Geographic Arbitrage in Real Estate

"I needed to be in a place where I could think calmly and invest for the long term without the pressure of other people’s expectations or the distraction of all the frenzied activity buffeting me in New York."

"least, it seemed wiser to live in a place where the differences are less extreme."

"I don’t want to waste my limited energy guarding myself against the envy and greed that a place like the Bahnhofstrasse might trigger in me. It’s better simply to construct my environment so that I’m not exposed to these destabilizing forces, which are likely to intensify my irrationality."