So sorry. I collateralize (two year loan where the collateral doubled) my first mast head slope (US122) after I bought my sports mercedes in 1960 in Kopenhagen. It was a Kings Cruiser caravelle hull whose design won the King of Sweden's design contest for a family cruising yacht. I raced for many years out of the east coast B then A divisions. Beating boats like Palawon, Snow Goose, Cotton Blossom IV and TT's cal boats. I was only allowed in Davidson lab for 12 meter fund testing, lol. I can't imagine why I never told MM any of this stuff. This is hilarious. We all have cars, boats and beautiful women. Liz and I had diner with a philanthropic friend last night as guests of UA. His philantropic thrust is TCA (Michael Hall) and we (Liz and I) are finalist judges for TCA's "Duel in the Desert". There is one hell of a crop of financial students coming out of the system this. Everyone who trades well (you don't as yet) makes a lot of money beyond their contemporaies. After that you do food banks and helping kids. Or as in my case other stuff related to the intellectual side of problem solving (30 books and stints doing papers at EOP). Now I support financial majors at top schools as they compete for honors to distinguish their academic carrers. How could we not have cars, boats and women? Mike boat does 90mph and he is an avid whale watcher and photographer. Liz oes water shots of the pattrerns formed after whales plunge. They probably were most animated in those sharings rather than any other time.
I'm in category 1, and you're absolutely correct! Trading index futures is equivalent to working at Micky Ds.
What a waste of internet space. What's wrong with having nice things? Are we to become Mother Theresa and devout ourselves to helping the poor? BLAH. Who would you rather be: Mother Theresa or some rich oil sheik with a plethora of lovely concubines ?
Put me down for category 1, although I don't work at McDonalds. I just wonder why people feel the need to own ridiculously expensive things. Seems to me that they are trying to fill a hole.
I agree. To live one's life for material things is pathetic and quite primitive. I'm at times a voluptuary, but my primary goal isn't happiness through luxury. Also, to express one's self primarily through store bought items is shallow. Do your things form your identity?
Probably they don't teach basic economics in Wharton. In what has been said of the evolution of the vicarious leisure class and its differentiation from the general body of the working classes, reference has been made to a further division of labour, -- that between the different servant classes. One portion of the servant class, chiefly those persons whose occupation is vicarious leisure, come to undertake a new, subsidiary range of duties -- the vicarious consumption of goods. The most obvious form in which this consumption occurs is seen in the wearing of liveries and the occupation of spacious servants' quarters. Another, scarcely less obtrusive or less effective form of vicarious consumption, and a much more widely prevalent one, is the consumption of food, clothing, dwelling, and furniture by the lady and the rest of the domestic establishment.............. From Thorstein Veblen, The Theory of the Leisure Class: An Economic Study of Institutions http://xroads.virginia.edu/~HYPER/VEBLEN/chap04.html
Just a reminder, money can be used to buy honor, and selfishness is parasitic. Money spent to futher the causes of moral issues, such as stopping environmental degradation, can have universal consequences, such as saving the planet.
It is not just on ET, it is socialital. Most people at one time have felt the stress of not having enough money, not meeting their obligations, or having things stretched tight and having to watch every cent. Very stressful and all consuming. People everywhere dream of conspicuous consumption, lavish spending where they have no concern about bills or monetary worries. You can see this by lotto sales or watching the exotics booth at any car show. Most people would and do settle for a comfortable life though, being able to meet monthly bills with a small reserve.