Phil Grossfield's Blog

Ego – Too Much Or Too Little?  Too much or too little or just right?  Ego…it causes all the hate in our world…I’m convinced of that.  But some Ego is okay…it can even be helpful…useful.  But let’s focus on the negative, shall we?

I think everyone is born with a big ego.  I often hear people say that babies are born innocent…uh, not so much.  Babies are certainly cute, but make no mistake about it…they are selfish and self-absorbed creatures.  Only over time do humans learn to reduce ego and increase tolerance.  Some people never learn, either because of a genetic in-balance or unfortunate environmental surroundings.  We call those people psychopaths because they lack empathy for others.

Over our lives we humans go one of two directions…we either become more tolerant of others or less tolerant of others.  Another way to say it is that we become more forgiving of others or less forgiving of others.  Those that are less forgiving and less tolerant have huge egos…they want everyone to be like them and if not, well, then they hate…  Baseless hatred is all ego.

You know the old cranky man who sits on his porch and yells at people all day…a curmudgeon…he’s become less tolerant and less forgiving of others over the course of his life.  I hope most of us find the other side where we become more tolerant and more forgiving of others.  We are interested in peace and togetherness.  That’s all I have to say about that.

My Market Update – 01/23/2015

The 30-year Fannie Mae bond is trading up again, THANK GOODNESS!  It is up +22bps this morning since yesterday’s close.  Generally a lender’s pricing improves when the bond is being bought.

After a week of volatility the bond has held it’s ground relatively well.  We’re still in great rate range.  As you can see, over the course of a year the bond has improved and our rates along with it.