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Quote by Daniel Crosby

“Pop quiz: What is the best predictor of the size of a retirement nest egg? What’s that you say, performance? Wrong! I’m sorry but the correct answer was “deferral rate,” but thanks for playing. The way that goals-based investing increases deferral rates (and thus, wallet share) is by couching investment in terms of personal meaning… Rather than speaking in sterile terms that rob wealth of its holistic meaning, use your goals as the benchmark and see how much easier saving becomes.”

Quote by Daniel Crosby

Book:Personal Benchmark: Integrating Behavioral Finance and Investment Management
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Personal Benchmark: Integrating Behavioral Finance and Investment Management

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Daniel Crosby

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“There are at least three significant reasons we resist contemplating our personal financial goals: it can be stress-inducing, we dislike numbers, it is socially taboo, and we are slaves to “right now.”

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“Given the complexity of life, the enormity of the decisions we are called upon to make, and most peoples’ unfamiliarity with financial principles, it is much less a question of whether people will simplify the information they process and recall and more a question of how they will simplify.”

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“It is an ignorant place, except as to the townspeople, artisans, drunkards, and paupers, she said, perverse still at his differing from her. They see life as it is, of course; but few of the people in the colleges do. You prove it in your own person. You are one of the very men Christminster was intended for when the colleges were founded; a man with a passion for learning, but no money, or opportunities, or friends. But you were elbowed off the pavement by the millionaires' sons.”

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“Intrinsic Value Calculations for Stocks are only for a selected few. It is boring, mundane hard work. For everyone else who wants to make money, there is the 'Greater Fool Theory', and it also works remarkably well in the real world. You may not believe it, but there always exists a bigger or greater fool willing to pay a higher price.”

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