Charlie Munger's take on lowering expectations: “That's how I got married. My wife lowered her expectations.”
This got me thinking on Women getting married. Their initial expectation of a six pack, understanding, Shahrukh features etc. But as they grow older and don't find their expectation starts to go a notch lower. Investments are also like that. People start thinking of greats like Buffet worth in billions and soon realize that it is a long term plan and not an overnight success. Slowly, their expectations get lowered and invest slowly over a period of time or some take huge risks and think they can easily earn money and put in investments which may turn out to be duds.
This interestingly brings a statistic test called Chi Square Test - an expectation test.
A chi-square test is a statistical test used to compare observed results with expected results. The purpose of this test is to determine if a difference between observed data and expected data is due to chance, or if it is due to a relationship between the variables you are studying.
Rich Charlie Munger died yesterday -28th Nov 2023 and remembering his famous quote on expectations.
Many people take trophy wife, more to show off, than having a real partnership. Both lead their own lives and come together for parties or for the paparazzi photo ops.
Like I mentioned in other blog that wife should be a person you grow old with and would greatly help if there is a common thread between them- either music, reading, watching movies or such other common hobbies that hold them together in old age. Young and high end hormones help for a short time, but what afterwards. That is the question on expectations and reality. Both have to be balanced.
