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The advantage of the emotions is that they lead us astray, and the advantage of science is that it is not emotional. -- Oscar Wilde (1854 - 1900), The Picture of Dorian Gray, 1891

While Tropical Storm Fay was playing around in the Gulf last week, our cable TV went out. While browsing our DVD collection we decided to watch “The Big Chill.”

The movie was released in 1983, the same year Cyndi Lauper was singing “Girls Just Want to Have Fun.”

In the early 80s I had recently graduated from college, was working for Dean Witter Reynolds, Inc. and had traded in my Levi corduroys and Fair Isle sweaters for business suits with big shoulder pads.

Other movies during this decade were “Wall Street” (1987) with Michael Douglas, Charlie Sheen and Darryl Hannah, and “Working Girls” (1988) starring Melanie Griffith, Harrison Ford, Sigourney Weaver and Alec Baldwin.

Watching “The Big Chill” gave me a bit of a chill. I wondered if my generation has gone from Cyndi Lauper’s “Girls Just Want to Have Fun” to “Girls Just Want to Have Funds.” Did we exchange fun for funds? I don’t think so, but let’s see.

One theme of “The Big Chill” was the loss of innocence. The movie portrays college friends reuniting over the suicide of one of their own. The occasion is used to reacquaint themselves with each other and to speculate as to what happened to their idealism which had been abundant when they were younger.

The impact of the movie caused me to flashback to where I was at that time. My primary concerns were to get tickets to see Cyndi Lauper “live” in Montreal, buy a home and fund my retirement plan. Combining fun and funds was working in my life at that tender age.

Scanning the past with a spotlight and taking inventory of past financial decisions is an interesting exercise. Learning from the choices we’ve made over the years is what makes successful investors successful. If we’re brutally honest we often learn more from the losses.

Greed and fear are two strong motivators. Either of them in the extreme can lead to trouble. These two traits impact many of our financial decisions and the importance they play at any given time are dependant on what stage of our lives we’re in. Fewer responsibilities and obligations during youth meant fewer worries and fears. More responsibilities and obligations may lead to greater greed and the desire to accumulate riches.

As one character says to another in “The Big Chill,” “who knew we would all make so much bread… good thing it’s not important to us.”

Having met our basic needs some of us begin accumulating “stuff” and can easily lose sight of balance. A happy medium between greed and fear is a more pleasant space to occupy.

Much of what influences our financial decision making is out of our control. Don’t overlook what’s happening in the economy, globally, nationally and geo-politically. These days the economic news is a bit daunting. Here are a few worthwhile observations I thought you may enjoy if you’re experiencing a loss of innocence as it pertains to the markets.

Bull markets are more fun than bear markets

Breadth and volume matter. Markets are strongest when there is volume behind trades. Momentum is hard to stop.

Don’t lose sign of the long-term.

Fear and greed can be stronger than your self-discipline.

You’re your own worst enemy, especially when emotions take hold.

Gains make us exuberant, enhance well-being and promote optimism. Losses bring sadness, disgust, fear, regret. Fear increases the sense of risk.

Markets are strongest when they are broad and weakest when they narrow to a handful of blue-chip names. This is why breadth and volume are so important. Broad momentum is hard to stop.

Water seeks its own level. Excess is never permanent and this time isn’t different.

For every action there is an equal and opposite reaction.

Good judgment can be clouded by euphoria and pessimism.

It’s easy to get caught up in the heat of the moment and lose perspective.

Fear and greed are strong emotions. Wall Street is driven in large by greed and fear, but don’t overcomplicate the relationship between the two. Your personal life situation and comfort levels are also important factors.

A generation was able to balance “Girls Just Want to Have Fun” with “Girls Just Want to Have Funds” and you too can balance your financial perceptions with proper planning. Balance is a learned trait and volatility is an inherent trait of the markets. Know your comfort level and stay focused.

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Darcie Guerin is a financial adviser and branch manager at Raymond James & Associates Inc. at 606 Bald Eagle Drive, suite 401, Marco Island. Contact her at Darcie.Guerin@raymondjames.com, 389-1041 or toll-free (866) 343-0882.