"Ancient" Portfolio Theory

Most people have heard of the "Modern Portfolio Theory". Generally, it posits that diversifying one's portfolio, properly diversifying for a given level of risk will maximize returns. It's interesting that throughout history, however, that for any given level of skills or situations, the path to financial freedom has been reletively unchanged. Sure we've become more "sophisticated" with our credit cards, stock markets and loan structures, but the "big things", the large levers that drive financial success, haven't really changed. Proverbs 21:17 says: "He that loveth pleasure shall be a poor man: he that loveth wine and oil shall not be rich." Living simply and frugally (i.e. living within your means), carefully managing and avoiding debt, and working hard, are the keys to diversifying your personal character portfolio. It's often easy to blame others for our financial situation, but in the end we are responsible for the results of our own financial choices. Its always good to take some time to evaluate your life, and determine if the choices you are making, even perhaps the "passive/default choices" are helping or hindering the realization of your goals.