Curiosity@Intelsense
Weekly dose of learning
1.
Understanding market cycles is crucial for investment success
One of those most important things is knowing where we stand in the cycle. I don’t believe in forecasts. We always say, “We never know where we’re going, but we sure as hell ought to know where we are.” I can’t tell you what’s going to happen tomorrow, but I should be able to assess the current environment, and that’s the kind of thinking that helped us prepare for the crisis.
I think that the two most important things are where we stand in the cycle and the broad subject of risk, and in fact, where we stand in the cycle is the primary determinant of risk.
2.
Mimetic desire drives FOMO
Mimetic desire, regardless of what we call it – peer pressure, herd mentality, FOMO, or Maya (illusion), is real.
A French anthropologist and Stanford Professor, Rene Girard, developed the idea of Mimetic Theory. He said that mimetic desire unfolds sequentially.
1. At the core of mimetic desire lies the fact that we are imitation machines
2. Our desires are not fundamental needs
3. We let aspirational role models influence what we desire
4. We all end up wanting similar things and this leads to Mimetic Rivalry
5. To dissolve conflict from Mimetic Rivalry, we sacrifice Scapegoats
https://performonks.com/mimetic-desire/
Thought of the Week
“Two essentials for successful retirement are sufficient funds to live on and sufficient things to live for.”
-Ernie Zelinski
Video of the Week
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