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Episode 2529:
Nick Maggiulli's insightful article delves into the relativity of wealth and our perception of it, using the story of Pahom from Tolstoy's "How Much Land Does a Man Need?" and Lloyd Blankfein's views on wealth. It challenges our understanding of what it means to be rich and how our comparisons with others shape this perception.
Read along with the original article(s) here: https://ofdollarsanddata.com/who-feels-rich-really/
Quotes to ponder:
"Have you ever had the impression that other people have many more friends than you? If you have, you are not alone. Our friends have more friends on average than a typical person in the population. This is the friendship paradox…"
Episode references:
"How Much Land Does a Man Need? by Leo Tolstoy" - available at Online Literature.
"Interview: GS's Lloyd Blankfein - The Big Picture" - available at Ritholtz.com.
Credit Suisse Global Wealth Report" - available at Credit Suisse.
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Optimal Finance Daily - Financial Independence and Money Advice