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THE PHILOSOPHY OF INVESTMENT - A reply from CEO of J.P. Morgan to a pretty girl seeking a rich husband






If You are Single, Please read this.

A young and pretty lady posted this on a popular forum:

Title: What should I do to marry a rich guy?

I'm going to be honest of what I'm going to say here.

I'm 25 this year. I'm very pretty, have style and good taste. I wish to
marry a guy with $500k annual salary or above.

You might say that I'm greedy, but an annual salary of $1M is considered
only as middle class in New York.

My requirement is not high. Is there anyone in this forum who has an
income of $500k annual salary? Are you all married?

I wanted to ask: what should I do to marry rich persons like you?

Among those I've dated, the richest is $250k annual income, and it seems
that this is my upper limit.

If someone is going to move into high cost residential area on the west
of New York City Garden(?), $250k annual income is not enough.

I'm here humbly to ask a few questions:
1) Where do most rich bachelors hang out? (Please list down the names
and addresses of bars, restaurant, gym)
2) Which age group should I target?
3) Why most wives of the riches are only average-looking? I've met a few
girls who don't have looks and are not interesting, but they are able to
marry rich guys.

4) How do you decide who can be your wife, and who can only be your
girlfriend? (my target now is to get married)

Ms. Pretty

A philosophical reply from CEO of J.P. Morgan:

Dear Ms. Pretty,
I have read your post with great interest. Guess there are lots of girls
out there who have similar questions like yours. Please allow me to
analyse your situation as a professional investor.

My annual income is more than $500k, which meets your requirement, so I
hope everyone believes that I'm not wasting time here.

From the standpoint of a business person, it is a bad decision to marry
you. The answer is very simple, so let me explain.

Put the details aside, what you're trying to do is an exchange of
"beauty" and "money" : Person A provides beauty, and Person B pays for
it, fair and square.

However, there's a deadly problem here, your beauty will fade, but my
money will not be gone without any good reason. The fact is, my income
might increase from year to year, but you can't be prettier year after
year.

Hence from the viewpoint of economics, I am an appreciation asset, and
you are a depreciation asset. It's not just normal depreciation, but
exponential depreciation. If that is your only asset, your value will be
much worse 10 years later.

By the terms we use in Wall Street, every trading has a position, dating
with you is also a "trading position."
If the trade value dropped we will sell it and it is not a good idea to
keep it for long term - same goes with the marriage that you wanted. It
might be cruel to say this, but in order to make a wiser decision any
assets with great depreciation value will be sold or "leased". ____

Anyone with over $500k annual income is not a fool; we would only date
you, but will not marry you. I would advise that you forget looking for
any clues to marry a rich guy. And by the way, you could make yourself
to become a rich person with $500k annual income. This has better chance
than finding a rich fool.

Hope this reply helps.

signed,
J.P. Morgan CEO