Documentary: Alain de Botton on The Status Anxiety Effect
Yesterday, I posted a ted talk given by Alain de Botton, here’s a very related documentary also by de Botton on the concept of “Status Anxiety”. I am linking to this for a very simple reason- if you are driven to investing out of a need for validation and status you are very likely to do the opposite of compounding your wealth (Munger would say you’re inverting in the wrong direction). I would argue that your more likely to become a Madoff than a Buffett if you follow a recepie of status seeking. Successful investors do not care how they are perceived by others rather they focus on being humble and realistic.
(Note: This post is dedicated to our reader Joshua)
Definition Of Status Anxiety – Via wikipedia
Status Anxiety discusses the desire of people in many modern societies to “climb the social ladder” and the anxieties that result from a focus on how one is perceived by others. De Botton claims that chronic anxiety about status is an inevitable side effect of any democratic, ostensibly egalitarian society. De Botton lays out the causes of and solutions to status anxiety as follows:
Watch The Documentary Below