2771: The Price of Greed by Nick Maggiulli of Of Dollars and Data on Personal Finance Habits

Optimal Finance Daily

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Episode 2771:

Nick Maggiulli's exploration of "The Price of Greed" illustrates the perils of unchecked ambition through historical and modern examples, revealing how greed, often driven by a desire for status, can lead to devastating financial and personal consequences. By highlighting the stories of figures like Eli Whitney and Jesse Livermore, Maggiulli emphasizes the importance of balancing ambition with wisdom to avoid the high costs of greed.

Read along with the original article(s) here: https://ofdollarsanddata.com/the-price-of-greed/

Quotes to ponder:

"The irony is that this is a money game and money is the way we keep score. But the real object of the Game is not money, it is the playing of the Game itself."

"People start being interested in something because it’s going up, not because they understand it or anything else. But the guy next door, who they know is dumber than they are, is getting rich and they aren’t."

Episode references:

12 Rules for Life by Jordan Peterson: https://www.amazon.com/12-Rules-Life-Antidote-Chaos/dp/0345816021

The Money Game by Adam Smith (George Goodman): https://www.amazon.com/Money-Game-Adam-Smith/dp/0394721039

At Home: A Short History of Private Life by Bill Bryson: https://www.amazon.com/At-Home-Short-History-Private/dp/0767919394

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