Should I invest my life savings in a risky venture that will either make me a millionaire or put me in the poorhouse? Or should I restrict myself to only the bluest of blue chip stocks and the safest, if low yielding, bonds? Greed will steer me toward the former choice; fear to the latter. If there is a boom in risky ventures and their owners all seem to be making money hand over fist, my greed might get the better of my fear. Typically, the government doesn’t get involved in my decision-making process. I am free to choose to take as much risk as I see fit. The government maintains bankruptcy courts that will help my creditors carve up my assets if I do go bankrupt, but the government will not prevent me from making choices that might increase the probability that I become bankrupt.
Posted on: Fri, 12 Dec 2014 11:18:43 +0000
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