Greed is one of seven basic character flaws or “dark” personality traits. We all have the potential for greedy tendencies, but in people with a strong fear of lack or deprivation, Greed can become a dominant pattern. Greed is the tendency to selfish craving, grasping and hoarding.
It is defined as a selfish or excessive desire for more than is needed or deserved, especially of money, wealth, food, or other possessions. As with the opposite chief feature of self-destruction, greed stems from a basic fear of life. To be exact, greed is driven by a fundamental sense of deprivation, a need for something that is lacking or unavailable. When this feeling of lack is particularly strong, a person can become utterly fixated on seeking what they “need”, always trying to get hold of the one thing that will finally eliminate the deep-rooted feeling of not having enough.
That one thing could be money, power, sex, food, attention, knowledge – just about anything. It could be something concrete or abstract, real or symbolic. However, it will be something very specific on which the entire need-greed complex becomes fixated. Once that happens, life becomes a quest to acquire as much of it as possible. Because the compulsion of greed is usually driven by some early, traumatising sense of deprivation that may be lost to memory, it often manifests only later in childhood, adolescence and adulthood as one of our most essential survival instincts comes into play: competition. Competition for resources is a universal instinct and one of the most important factors in biology. Different species can compete for the same watering hole, for example. Within the same species, males can compete for the same female, or for “top dog” position.
This was just a synopsis what greed is as I am going to tell you a story relating to mutual fund and investments.
I am sure everybody is familiar with Panchatantra – A story adapted from this canonical collection, which gives us life lessons. A farmer couple, many years ago resided in a village, where they found a goose who laid golden eggs. They were so immoderately desirous of acquiring the golden eggs; they planned to kill the goose to take out all the eggs from within. However, this is a real-life not a fantasy as the goose died immediately when the farmer plunged the knife into its body. Blood and dead goose – the end was truly tragic for the couple. Relating to this story, many investors make the same mistake for unreasonable high returns because of greed and expectations.
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