Does Warren Buffet fear loss?
Probably not at this point – he’s old enough and seemingly content enough to be free of financial fear. Does Bernie Madoff? I guess now he will face his own doomsday now, and learn whether that fear should have been stronger. How do you control fear of money? Here are the things I try to do: • Remember that money is infinite. YOU may not have infinite amounts of money, but there is a lot of it out there, if you can just figure out how to get it. • You cannot anticipate every disaster, but you only need to anticipate one success. If you invest in a property, a billion things can go wrong – title problems, a fire, a sewage plant groundbreaking the day after you close, etc. etc. You can’t prepare for everything. Try to aim for success, not dodge failure. • Fear comes from you. Fear is not an externally-caused reaction. Sure, we all get a jolt of adrenaline when we’re jumped by a cave bear, but you can control fear. It’s not like being poked with a stick, where you have a reaction determin
