Bread and Circuses

 

On Defensive Pessimism Interesting piece from Charlie Warzel on the idea that being “defensively pessimistic” is not the healthy choice. From the article: Often, Mr. Markman noted, we are deploying something called “defensive pessimism,” which is a strategy our brains use in stressful situations where we can control the outcome, like, say, a big exam. “It’s a great coping strategy when you have agency because being defensively pessimistic forces you to study more,” Mr. Markman said. But in circumstances out of our control, it is an example of the mind working against its best interests and creating more anxiety. Superstitious types might cringe at this point. But Mr. Markman said it’s actually better to adopt an optimistic mind-set in the run-up to the returns. “Defensive pessimism is creating a fictitious state. You’re feeling pessimistic but you don’t really believe it. Deep down you think your candidate will win, but you’re telling yourself they won’t, so when the actual outcome ha