Jason Zweig, the writer and investment guru, recently spent a day at the University of Pittsburgh to find out whether he made his financial decisions as a result of his genes or on the basis of his developed competence. His DNA analysis revealed that he possessed all five genes with the variant that is sometimes associated with bad investing decisions.
One of his genes damped the fear circuitry and intensified his brain's reaction to the potential for money-making. He also had the variant to make him respond more intensely to gambles. And another of the brain's variants suggests that he gets a visceral rush out of making money--more than other investors.
However, as he notes, over the years he has developed habits that don't come naturally, fighting to rein in his emotions and genes, to become the intelligent investor he is.
The insight of significance, however, is buried away in the middle of the column. "Perhaps 20% of the variation in risk-taking among individuals is genetically determined; the rest comes from our upbringing, experience, education and training."
FYI: One of the keys to reading a column, according to Bill Safire, is that the nuggets of importance are usually halfway down the column.
So. . . you can take charge of your life in spite of your genes. You can create neuronic connections to support your success with calculated, deliberate practice.
What does this mean to you? Well, I'd be refining my skills, checking out my career plans and thinking about how to optimize my future. I can assure you that, even at my age, I'm refining my toolkit, rethinking my strategies and taking further steps.
- - - - - -
Bill Safire has twelve exceptionally useful recommendations for how to read a column which he put into print shortly after retirement. If you'd like a copy, send me a note. I'll be glad to email them to you.