New's is everywhere. Headlines regarding a massive drop in a companies value because the CEO decided to go with Starbucks rather than his usual Folgers coffee brand. It flows in constantly rattling your brain into submission, to disregard any and all aspects of reporting.
An excellent example is that of the political climate we currently live in; everyone has a polarizing view of one thing or another, not because they were diligent about their research but only because they took the easy way out and began following someone else. Pathetic. Even more so you see people disregarding another's opinion because of their ego. These people are dangerous, however, put them into any of the financial markets and they instantly because poor. Why? Because they are always right. It's a brutal testament to how crippled people become by allowing their opinions to be swayed by their own ego.
My primary goal of introducing this to my kids is that it will teach them to lose, and lose well. It will teach them to stick to a strategy, have a good P/L ratio, how to mitigate risk, learn to succeed, and most importantly, how to absolve ego. Many people, primarily the poorest fall into the trap of looking at the wealthy and getting angry, but the true way to succeed is to look at those who are winning and change to adapt. To become better, if you are stagnant you are worthless, you are not even remotely branded a loser because a loser is someone who hates to lose. If you hate to lose and you act upon it to become better you will become a winner, no two ways about it.
The first step is to become a loser to then become a winner, always believing that you are second best will allow you to far succeed your peers and this is important. Never ever ever become stagnant.
I intend to teach my kids this.