Half full or Half Empty? Your time perspective may tell..
Warren Buffett finds it essential to have a balanced time perspective while hunting for value stocks and analyzing businesses. In a recent talk with Bill Miller, Buffet is said to have called himself a “short term realist and long term optimist”. Today, an article on the Tic Toc Talk blog summarizes the different types of temporal frames that we experience. Each temporal frame correlates with a positive or negative outlook on life and enjoyment.
Abstract of Article:
This study investigated correlates of five time perspectives (TPs) and the Balanced Time Perspective (BTP) construct proposed by Zimbardo and colleagues. Two hundred and sixty Scottish participants completed the Zimbardo Time Perspective Inventory (ZTPI: Zimbardo and Boyd, 1999), Subjective Happiness Scale (Lyubomirsky and Lepper, 1999) and Mindful Attention Awareness Scale (Brown and Ryan, 2003). The most prevalent TP profile was moderate to high scores on all five TPs of the ZTPI. BTP participants were significantly happier and more mindful. Happiness and mindfulness were positively correlated but a future TP did not correlate with subjective happiness.