Shortterm gains prioritize over long-term stability from "summary" of The Money Culture by Michael Lewis
The prevailing mentality in the financial world seems to revolve around the idea that immediate profits are of greater importance than building a strong foundation for the future. This shortsighted approach can be seen in the way that many investors and corporations make decisions based on maximizing short-term gains, even if it comes at the expense of long-term stability. This mindset is reflected in the frenetic pace of trading on Wall Street, where traders are constantly chasing after quick profits without much consideration for the long-term consequences of their actions. The focus is on making a fast buck rather than on building sustainable wealth over time. In this environment, risk-taking is often encouraged and rewarded, even when it goes against common sense or prudent financial principles. The allure of...
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