Why do many competent, smart people make mistakes with their investments? It turns out that their feelings have been hurt, or they’re trying to save face, or they’re cocky enough to think they’re faster and smarter than the masses. Basically, they get emotional.
“Tightening Belts? She’s the Expert.” That’s the headline of a NY Times story on fashion innovator Diane von Furstenburg. She’s not remotely a tightwad with money. She designs tight, clingy clothes that demand tight belts. Get it? That’s recession humor for you.
With few exceptions, people are spending less nowadays. But there are exceptions to the spend-less rule. So what sorts of things are we actually spending more on of late?
