I spent much of the last evening reading a biography on Judy Garland (Dorothy from The Wizard of Oz). I was surprised to learn, at least from the biographer’s point of view, how sad and unhappy most of Judy’s life on this earth turned out to be. A lot of her personal unhappiness, from what I could tell, was the result of trying to find permanence and stability in her romantic and platonic relationships that were constantly shifting and leaving her feeling vulnerable. To mix metaphors from the lyrics of Bob Dylan, she tried to seek a shelter from the storm and was left with an abandoned love.
One of the things that brings me immense satisfaction about investing is that it is the one area of life (if you do it intelligently and conservatively) where the passage of time almost automatically signals that things are getting better. Everything … Read the rest of this article!