Never Enough Hive?? 2 chapters reviewed tonight

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“At a party given by a billionaire on Shelter Island, Kurt Vonnegut informs his pal, Joseph Heller, that their host, a hedge fund manager, had made more money in a single day than Heller had earned from his wildly popular novel Catch-22 over its whole history. Heller responds, “Yes, but I have something he will never have … enough.” Enough. I was stunned by the simple eloquence of that word—stunned for two reasons: first, because I have been given so much in my own life and, second, because Joseph Heller couldn’t have been more accurate. For a critical element of our society, including many of the wealthiest and most powerful among us, there seems to be no limit today on what enough entails.”
― Morgan Housel, The Psychology of Money


Chaper 3- Never Enough

People who have 1 dollar want 2.

Millionaires want to be Billionaires

Hive fish want to be whales

You get the picture. We tend to want more and more. We do not back down. Often this means giving up more important things than the money that we may or may not earn or gain. This chapter in the book really hit home hard. This is something that has caused me some stress in my life. I go back and fourth with being okay with what I have and wanting more to the point that sometimes I am miserable. I am at a pretty good point personally right now with this internal battle. I can search after more but realize that I have more than I need and am happy about where I am at.

I see this battle on hive with some users that leave. They are making a couple hive and think they should have more. Sometimes its hard seeing the whales never upvoting you. I think its fine to leave but also realize that this is a platform that you can grow on slowly and it usually ads up.

Comparison is hard for people. Quit comparing and be more happy. I think that will almost always work.

Chapter 4- Confounding Compounding

Warren buffets has won because has basically been in the market for 75 years. He wins mainly due to time in market. He is not even the greatest investor as far as percentages of all time.

The author points out that there are over 2000 books on the investment strategies of Brother Buffet and none of them focus on the fact that he entered the market when he was ten and started investing.

I really liked these 2 chapters. I spent the night tonight chatting with my 8 year old that he better get some money in the market. He better go rake some leaves for the neighbors.

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Everyone is aiming higher
I also wish to be a whale someday

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Wants will never be satisfiable. We keep desiring more and more

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none of them focus on the fact that he entered the market when he was ten and started investing.

Or that he was given a headstart by having very successful parents. When one is born upper-middle class, it is much easier to make that jump to upper class. But yes, his patience and endurance does also have a lot to do with it. He didn't throw away what he was given like so many do.

Anyway, I do think for many people there is a magic number. In the US that number is around 120k (I've seen as low as 80k, but I think that number is out of date). It is around there that we can finally stop worrying about money and can comfortably cover most expenses while still saving. I think a lot of people who finally make it to that level are quite happy to stay there. But there is the small group who is never happy and keeps going for more.

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