TAKING STOCK ..........................10224$ $$FM 06-18-0311:03:40 PS ..........................10224$ $$FM 06-18-0311:03:40 PS TAKING STOCK A Spiritual Guide to Rising Above Life’s Financial Ups and Downs Rabbi Benjamin Blech ForewordbyMonsignorJamesP.Lisante American Management Association NewYork•Atlanta•Brussels•Chicago•MexicoCity•SanFrancisco Shanghai•Tokyo•Toronto•Washington,D.C. ..........................10224$ $$FM 06-18-0311:03:41 PS SpecialdiscountsonbulkquantitiesofAMACOMbooksare availabletocorporations,professionalassociations,andother organizations.Fordetails,contactSpecialSalesDepartment, AMACOM,adivisionofAmericanManagementAssociation, 1601Broadway,NewYork,NY10019. Tel.:212-903-8316.Fax:212-903-8083. Website:www.amacombooks.org Thispublicationisdesignedtoprovideaccurateandauthoritative informationinregardtothesubjectmattercovered.Itissoldwith theunderstandingthatthepublisherisnotengagedinrendering legal,accounting,orotherprofessionalservice.Iflegaladviceor otherexpertassistanceisrequired,theservicesofacompetent professionalpersonshouldbesought. LibraryofCongressCataloging-in-PublicationData Blech,Benjamin. Takingstock:aspiritualguidetorisingabovelife’sfinancialups anddowns/BenjaminBlech;forewordbyJamesP.Lisante.—1sted. p. cm. Includesbibliographicalreferencesandindex. ISBN0-8144-0787-0 1. Investments—Psychologicalaspects. 2. Stocks—Psychological aspects. 3. Finance,Personal. I. Title. HG4515.15.B58 2003 332.024—dc21 2003008506 (cid:2)2003BenjaminBlech. Allrightsreserved. PrintedintheUnitedStatesofAmerica. Thispublicationmaynotbereproduced, storedinaretrievalsystem, ortransmittedinwholeorinpart, inanyformorbyanymeans,electronic, mechanical,photocopying,recording,orotherwise, withoutthepriorwrittenpermissionofAMACOM, adivisionofAmericanManagementAssociation, 1601Broadway,NewYork,NY10019. Printingnumber 10 9 8 7 6 5 4 3 2 1 ..........................10224$ $$FM 06-18-0311:03:41 PS With the love that only a father can have for his son, I dedicate this book to Ari— who never stopped helping, advising, editing, and adding his creative talents. ..........................10224$ $$FM 06-18-0311:03:41 PS ..........................10224$ $$FM 06-18-0311:03:41 PS Contents ForewordbyMonsignorJamesP.Lisante .............. ix Preface .......................................... xi Acknowledgments ................................ xv Introduction ..................................... 1 CHAPTER1 SayGoodbye—It’sReallyGone .................... 5 CHAPTER2 No,You’reNotStupid ............................ 11 CHAPTER3 HowMuchAreYouWorth? ........................ 21 CHAPTER4 HowExpensiveIsaGuiltTrip? .................... 26 CHAPTER5 MoneyIsn’tReallyYourBestFriend ................ 31 CHAPTER6 WealthorHealth? ............................... 39 CHAPTER7 WhatWouldYouDowithIt?....................... 45 CHAPTER8 ‘‘ThouShaltNotCovet’’ .......................... 53 CHAPTER9 WhatYouHaveLeft .............................. 62 vii ..........................10224$ CNTS 06-18-0311:03:49 PS Contents viii CHAPTER10 DidtheMoneyReallyBuyYouHappiness? ........... 73 CHAPTER11 OhNo,NotChapterEleven ....................... 82 CHAPTER12 It’sGod’sFault ................................. 83 CHAPTER13 IsThereLifeAfterFailure? ........................ 90 CHAPTER14 AreYouBeingTested? ........................... 104 CHAPTER15 PessimismIsDeadly ............................. 114 CHAPTER16 AreYouAfraidofSuccess? ........................ 124 CHAPTER17 GreedIsNotGood .............................. 132 CHAPTER18 GotoaFuneral ................................. 141 CHAPTER19 WhytheBibleIsBetterthanBuffett ................ 150 CHAPTER20 StartingOver ................................... 167 CHAPTER21 TheFortuneYou’reGoingtoLeaveBehind .......... 179 AreYouFeelingBetterNow?PrescriptionsforEachDayof theWeek ........................................ 189 Index ........................................... 201 ..........................10224$ CNTS 06-18-0311:03:49 PS Foreword One of the great paradoxes is how much time and energy we must devote in this life to acquiring something that is of no value in the life to come-whether we conceive of this future life as the memories that our loved ones have of us, or as our own personal immortality. Money, which seems an indispens- able companion in the here and now, must be left behind at theborderofthegrave. And never did money seem more indispensable than in America at the end of the twentieth century. The remarkable stock market of the late 1990s held out the promise of wealth for nearly everyone who could take advantage of it-with the encouragement of those seemingly ‘‘in the know.’’ People who never before expected such prosperity in their lives began to take their good fortune for granted. Our society, which has always had a strong tendency to equate value with price,seemedmorewealthobsessedthanever. Now, the first years of a new century bring the cold light of dawn and the realization that there is no such thing as a risk-free investment or an ever-climbing stock market. For many, especially the relatively inexperienced new investor, this has come not merely as a disappointment, but as a life- alteringexperience.Allkindsofplans-fromstartingafamilyto preparing for retirement-have been put on hold. No wonder manypeoplefeelseriouslydisoriented. Rabbi Blech tells us that he shares this experience first- hand, and so understands very well what others are going throughalongwithhimself.But,ashemakesabundantlyclear ix ..........................10224$ FRWD 06-18-0311:04:01 PS
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