Sometimes the decisions we make in everyday life are good case studies for making effective investing decisions. My wife and I recently travelled to Santorini Island in Greece where we stayed in the village of Imerovigli. During our trip we planned to hike to Oia – which has the nicest views on the island. The hike would take roughly two hours through a couple small towns and some isolated mountainous terrain beside the Aegean Sea.
When we awoke on the day of the hike the sky looked ominous with dark grey storm clouds as far as the eye could see. I was not enthusiastic about making the hike given the conditions, and politely suggested to my wife that we wait for another day when the weather is more promising. I was also concerned that we would be hiking without professional gear and traversing steep and narrow paths along the mountainside. We also did not have a map or a GPS and our only instructions we received from the locals were to “follow the path all the way until you hit Oia.” (Let me tell you that there was no such marked or obvious path.) [Read more…]