Adam Smith: Finding Out Who You Are

Posted by admin on Tuesday, March 10, 2015

Adam Smith Money Quotation saying when learning character flaws (or strengths) it can be expensive to learn them from investment decisions. Adam Smith said:
 

 

“If you don’t know who you are, the stock market is an expensive place to find out” — Adam Smith

 

 

In this quote, Adam Smith is cautioning against using the stock market as a means of self-discovery or identity exploration. By stating that it is an “expensive place” to find out who you are, Smith suggests that experimenting with investments in the volatile stock market without a clear financial plan or investment strategy could result in significant losses.

The quote implies that only those with a strong sense of their investment goals, risk tolerance and financial self-awareness will find real success in the market. Smith appears to be advising that unless you have a clear financial identity, the stock market is not a good arena for learning about yourself through trial and error, as such an approach may prove quite costly.

Birthday: c. 16 June – Death: July 17, 1790

 

Categories: investment Tagged:adam smithexpensivestock market