Why do we view losing money as "bad" ????

Discussion in 'Investor Psychology & Mindset' started by Kate Moloney, 7th Jan, 2016.

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  1. BKRinvesting

    BKRinvesting Well-Known Member

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    Wow. This is very holier than thou. Don't worry all, thread over - we are all just time wasting swine.

    Lol. Yep, definitely feeling this way.
    A few people I know are into demartini (seriously that guy needs a better haircut! Haha) and all those gurus. They also pay another bloke the insane amount of >$1000 per hourly "session",

    Now that's a creative way to make money!!
     
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  2. Bran

    Bran Well-Known Member

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    Overall, it's bad. What you make of it doesn't have to be.

    (You can put that in your book ;) )
     
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  3. The Falcon

    The Falcon Well-Known Member

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    Monkey see, monkey do. Or in this case, Monkey experience, monkey do ;)
     
  4. Sackie

    Sackie Well-Known Member

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    Kate I understand where your coming from; feeling a sense of abundance in our daily lives regardless, not attaching self worth to net worth, creating a mindset of resilience and not making money synonymous with happiness. Personally I agree with all those things in conjunction with respecting and valuing money at the same time. Learning to have a sense of abundance will not sooth a starving belly, it will not fix leaks in roofs in winter for people who cant afford it, it wont pay school fees, nor medical bills (sometimes life threatening), it wont help the many charities who need desperate funding for child abuse awareness, it wont help in any way to free child slaves and sex workers. It wont help a son or daughter with their first deposit for a home, nor will it spare elderly parents the pressure of a very tight budget.

    Feeling abundant IS very important. But equally important is having money. And if you want to question the importance of money, then you really need to also question the importance of abundance.
     
    Last edited: 7th Jan, 2016
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  5. LifesGood

    LifesGood Well-Known Member

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    If we flash back to 2012 before your financial ruin, your above comment is akin to you both saying you wished you would lose $4mill.

    Would it not be more accurate to say that you are thankful for the learning experience that this loss has taught the both of you?
     
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  6. Kate Moloney

    Kate Moloney Well-Known Member

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    Thank you Leo for your input.

    Did I say that having abundance meant not having money? :)
     
  7. OC1

    OC1 Well-Known Member

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    The easiest person to fool is yourself.
     
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  8. Kate Moloney

    Kate Moloney Well-Known Member

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    Thats an interesting perception you have gained from my comments.

    Yes, very thankful.
     
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  9. Kate Moloney

    Kate Moloney Well-Known Member

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    Its interesting peoples perceptions on here.

    What I'm interested in is the power people give money. Am I saying that you shouldn't have money or that its cool to not have money? Of course not.

    I'm just wondering though, should we be giving money power.... or should we be giving ourselves power to create money (or whatever we desire in our lives) ?
     
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  10. LifesGood

    LifesGood Well-Known Member

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    What do you find interesting about my perception?
     
  11. OC1

    OC1 Well-Known Member

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    Money allows me to do the **** I don't like doing, so yeah, pretty powerful stuff.

    If you want a proper discussion it's always useful to look at what people mean and not focus on what they say. Big difference.
     
  12. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    Losing money hurts, it sucks and no one should intentionally seek to do it.

    It hurts your heart, your ego and your mind.

    I will always aim to not lose money through risk management and due diligence and if I do it will hurt but I will go on and learn from it if possible. And if I gain money then I will go on and learn from it if possible.

    There are easier ways to happiness than a rising stock market.
     
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  13. Kate Moloney

    Kate Moloney Well-Known Member

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    No, of course no one should ever intentionally seek it. Just interested in peoples thought processes around it ...... I like what your attitude toward winning and losing.
     
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  14. BigKahuna

    BigKahuna Well-Known Member

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    Hi Kate, Yes, you're right: it is the value we give to money; it's not about the money per se. Yes, I believe I would have less freedom without the money. But I see your point: my parents have friends who sold all their assets and spent the money so that they could get the pension. They now live on the pension and they're very happy. People can be super-wealthy and still be unhappy. It's brave of you to broach this subject on this forum.
     
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  15. keithj

    keithj Well-Known Member

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    Because money buys us time. And time is pretty much a fixed resource - we are each allotted three score and ten. If we have enough money, then we can choose to exchange it for time.

    That's just delusional. Not losing money means we can buy food & shelter..... and time.

    Perhaps both you & your husband should spare a thought for all those pensioners who are bank shareholders. There's $4M fewer dividends in the kitty for them.... do you REALLY feel happy for them too ? Or are you just thinking about yourselves ? You have deprived many others of a little time.

    Ask those pensioners who now have no choice but to eat cat food solely because of your actions ? I guess they would be unanimous in their condemnation of such a dumb question.

    Again, try to think of not just yourself, but the consequences of your actions. Those of us who live in reality believe that having more money gives us more choices & more time - only the delusional would think otherwise.
     
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  16. BigKahuna

    BigKahuna Well-Known Member

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    Cat Stevens, Moonshadow. Stevens wrote this about finding hope in any situation. Be present and joyful. See life as it is, right now, and don't compare it to others' lives, or other times in your life. Every moment in life is rich and unique; whether we are aware of it or not, we are always leaping and hopping on a moonshadow - the inescapable present moment.
     
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  17. Kate Moloney

    Kate Moloney Well-Known Member

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    Hi @BigKahuna thanks for your input and support. I'm not necessarily saying that we shouldn't have money, just more interested in the perception/power we place on money. I see so many investors in my region thinking their lives are stuffed forever because of what happened here, makes me wonder if they changed their mindset towards loss wether they could find abundance sooner (in whatever form that is, money, happiness etc). Its a concern when people say they if they don't make money they will be unhappy. It may even be that thought process that leads to suicide over financial issues.
     
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  18. Kate Moloney

    Kate Moloney Well-Known Member

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    Your post is very interesting on so many levels and it says a lot about you.

    The banks lent us the money, we put in the deposit. We both took a chance and lost out.
     
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  19. BigKahuna

    BigKahuna Well-Known Member

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    Money buys no one time.
     
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  20. sash

    sash Well-Known Member

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    Ok here goes...I have too have lost money on paper...some of properties went backwards for some time....and then guess what...they doubled virtually overnight. There is nothing in my portfolio where I would not breakeven today....

    Also...I was lucky...a little birdie tapped me on the shoulder last Friday to put my share based super portfolio into cash. Though I left Divident Imputation funds (40% of super).....
     
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