Stay calm and let yoga make you rich
Yoga teaches against fear and greed – the enemies of the common investor, says advisor Jeff Bogart
HAVE recent market ructions left you with a knot in your stomach and a sense of foreboding about the "mutability and impermanence" of it all? If so, says Will Pavia in The Times, why not embrace your inner yogi?
Inspired by books like George Kinder's The Seven Stages of Money Maturity, a new breed of financial advisers is offering investment planning inspired by Buddhist principles, Hindu spiritualism and branches of yoga and meditation. The claim is that "yogic exercises can help managers and investors remain calm in the face of the various shocks and crises".
"Yoga teaches against fear and greed – the enemies of the common investor," says investment advisor Jeff Bogart. These disruptive emotions make "them buy when they should sell, and sell when they should buy". As well as offering a standard wealth management service, he now runs Yogic Investing – which promises to "move your yoga practice off the mat" and into your savings account.
Some might argue that rather defeats the point of taking a more spiritual approach to life. But that hasn't deterred a welter of Wall Street firms from cashing in. Another firm seeking "to channel the life force" into profits is Abacus Wealth Partners, which has devised a breathing exercise called "the money breath" to help clients remain calm. You get "inner peace"; they take "big profits". What's not to like?
This article appears in the 14 June 2013 edition of The Week.