The Psychology of Money - An Investment Manager\'s Guide to Beating the Market

(Grace) #1
30 THE INVESTOR

“You may say anything that you like about mankind, but don’t
say it is rational.” (Dostoyevsky)
“I never met a man I didn’t like.” (Will Rogers)
“Will Rogers never met a lawyer.” (Steve Moris, entertainer)

Clearly, two thinkers, two feelers, and a comic.
In practice, most investment professionals (more than 90 per-
cent) show a preference for thinking. They tend to be competitive
and tough-minded. When a hurricane strikes Florida, they tend to
think about the investment ramifications (lumber futures, citrus
crop damage, and insurance stocks) rather than dwell on the hu-
man suffering caused by the event. Their capacity to be objective
helps them to see clearly and eliminate emotion from their deci-
sions. This same objectivity can damage working relationships and
drive down morale in their organizations.
Feeling types tend to make excellent client advisors and mar-
keting professionals, as they can use their natural inclination to see
things from another person’s perspective. Their weakness shows
up when they need to make tough decisions that may result in
confrontation or hard feelings.

JUDGING (DISCIPLINE)/PERCEIVING (FLEXIBILITY):


How People Choose to Live


The final polarity deals with people’s lifestyle. Judging types like
an orderly, organized life. Their idea of freedom is to have a clear
idea of where they are going and then be free to achieve it. They
don’t like long brainstorming sessions; they would rather decide
on a plan. Once the plan is in place, they can relax and get to
work. They like to set goals and achieve them. They like DayTimers
and planners. Their weekends are booked and to-do lists are com-
mon. In fact, they cannot believe that anyone functions differently.
As I explained these distinctions to the senior staff at Uline Corpo-

04 ware 30 1/19/01, 1:02 PM

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