Digging Deeper into the Investment Terrain, Dante found lust.... the Plunger's find the insatiable:
The second-Level is darker and more dangerous described as Lust, but curiously not shaped as Aphrodite or Venus as our great ancestors would have worshiped, but in the form of a boring Price Quotation.
The Temple of the Price Quotation is decorated with unlimited quotation boards, unlimited connection bandwidths, for limited minds to stay up to date on pricing of all possible securities on this planet, in real-time and have their portfolios measured to the nano-second.
I kid you not my dear plunger, the price quotation is not only a sophisticated seducer, but infects this layer and the majority of the Limbo populace with a serious disease, that of the Checkitis – the constant need to check your investments.
Checkitis is all around us, getting their fix by checking our financial apps, but also via newspapers and news channels. So bad is this that there are multi-billion dollar Networks (Bloomberg TV and CNBC) that feed our insatiable need of the Price. The worshipers congregate and discuss prices, usually confined in sects of the investment universe – currency, bonds, equities - unfortunately knowing the price the decimal point, but not knowing the unit value of anything.
It starts with a harmless preview, satisfying an itch of curiosity. Slowly we are overstimulated by price movements and hypothetical profits or losses. As it works its way on altering our behaviour, our emotions become coiled with ups and downs of the Market, impairing our objectivity.
Oh Father, I have sinned...
But have you seen the markets today?
Oh that rising price! Oh that falling price!
Oh it’s been 5 minutes since I bought it!
Lets go check the live P&L!
As the Kid Plunger advises “the more you check, cross-check, and counter-check, the bigger the financial shipwreck”.
Don’t contract checkitis ! Don’t make decisions by price movements alone!