Continued from the 12th.
In personal finance, Aristotle teaches us to be neither misers (deficient) nor spendthrifts (excessive). "In the matter of giving and earning money," advises the Greek Philosopher, "the mean is liberality, (while) excess and deficiancy are prodigality and miserliness. But both vioces exceed and fall short in giving and earning in contrary ways: The prodigal exceeds in spending, but falls short in earning; the miser exceeds in earning, but falls short in spending."
Wise old Solomon in the bible warns, "Be neither rich nor poor" - both can be a burden. Aristotle teaches that poverty leaves the good life unfullfilled. Extreme wealth can be a burden also. "The rich can be overcharged and choked with the cares of the riches and the pleasures of this life," as Jesus warned. Aristotle concludes that personal happiness and the "highest excellence" are achieved through moderate living.
In the investment world, the most successful investors are those who prudently measure the risk and reward of an investment, avoid risk-free investments (which offer little or no reward) as well as reckless speculations. Greedy investors almost always end up losing their shirts. Remember the dotcom era!!!