What is the nature of happiness?
What is the nature of happiness?
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Jim O'Shaughnessy, through a conversation with Jesse Livermore, touches on the nature of happiness by discussing its relation to value. Livermore asserts that value, for a human, equates to happiness, encompassing positive emotion and experience. This perspective suggests that happiness is intrinsically connected to the fulfillment of needs and desires, whether directly through tangible elements like food and shelter, or indirectly through assets that can be traded for what one wants. Happiness, in this sense, is deeply linked to functional utility — the hedonic value derived from an object, whether it's a physical product or an intangible service like software that facilitates goal achievement 1.
Value and Emotions
Jesse delves into the intrinsic value of assets, emphasizing that value is tied to happiness and positive experiences. He highlights how real things produced by assets like software can lead to tangible hedonic outcomes, challenging the notion of investing based solely on intrinsic value.
Infinite Loops 2022
Ep.91 — Lily Francus and Jesse Livermore — Understanding Financial Bubbles
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