Misery Loves Company

I recently happened upon a conversation where people were discussing how much their 401K's lost last year. Down 35, 40, 45%. All stock investments presumably, and no bonds. It was very interesting to hear how they were taking solace in each other's losses. "Misery loves company" goes the old saying, and for good reason.



No one wants to feel like a sucker and knowing others are experiencing the same pain is comforting to a degree. Just the quirks of human emotion I guess. Yet there is always that one person who will smile in such a conversation and say "I got out around 13,000.  Yep, just didn't like how things felt and decided to sell."

For some reason, there is always someone around who combats the pain of their losses by pretending they were smarter than everyone else. I'm not talking about someone who had some bonds and cash or "only" lost 15 or 20%- there are lots of those. I'm talking about the person who claims to have avoided the whole train wreck or even made money in this environment. Of course, they weren't so smart- no one got out at 13,000. Especially the guy telling you that.

Oh sure, there are a few smart people who did- but you probably won't be having such a conversation with them. Besides being very few and very far between, they are usually quiet about it, preferring to let others point out their success. They have no need to gloat. They also tend to be professionals who do this for a living and not your coworker who doesn't really pay attention.

So if someone has the nerve to make such a claim in casual conversation, you have my permission- nay, encouragement, to give them a long, hard, uncomfortably skeptical stare. Then point out the lie to others as soon as they walk away. For better or worse, we are all in this together. Might as well take solace in that.