By James E. Wilson via Iris.xyz
I recently came across a provocative article written by Greg Gutfeld titled “The Prison of Two Ideas” . While the article is mostly about political beliefs, the main theme carries over to the world of investing and personal finance as well. As Gutfeld explains, in modern parlance, you are either for or against “X”. Many have come to believe that for every issue, there are only two possible positions. Of course, this is in stark contrast to the reality of everyday life.
To be sure, this trend has been in place for many years but has only recently reached critical mass.
As Gutfeld explains, for some people, an “idea warden” allows the freedom to reflexively dismiss alternative ideas that don’t fit their accepted narrative. These narratives become very important in determining how choices are make in all realms of life, including personal finance.
Personal Finance…personal economics, is ultimately driven by what you believe.
Your beliefs set the course for how you make decisions within your financial life. Within the investment realm, there are those that believe certain investment managers can outperform their benchmarks on a consistent basis, net of fees.
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