Pride and Prejudice was published in 1813, but that has not stopped it from being one of the most popular books of all time. Written by Jane Austen when she was between 20-21 years old, her second novel is beloved by many (including this humble writer) and has been adapted in English for TV and film at least seven times, from the 1940 film to the 2026 Netflix adaptation.
The book is about the marriage prospects of the five Bennet sisters, narrated by our intrepid heroine Elizabeth Bennet, and is about how pride and prejudice both feature in where and when the sisters make their matches. The main themes underlying the story are class, social mobility, appropriate manners and behaviour, and matrimonial security. In fact, the very first line of the book is, “It is a truth universally acknowledged, that a single man in possession of a good fortune must be in want of a wife.”
But I want to argue today that the REAL theme and focus of the book is actually money, and the book is about how money makes life easier, and the lack of it leads everyone to desperate decisions.
1. Mr. Bennet: A Study in Inaction and How It Could Sink Your Prospects
The patriarch of the household is Elizabeth’s father, Mr. Bennet. He earns a pretty decent income from his entailed home Longbourn, £2,000 a year in 1813, which is about £121,000 today. The entailment of the property meant that upon Mr. Bennet’s death, the house and income both would pass to the next male heir – a problem for a man with five daughters and no sons. Yet despite knowing about this from the day he was born, Mr. Bennett saved nothing for this daughters, leaving them to face destitution when he died. Because of this a good marriage was not a choice, but a desperate need for the sisters. It is a clear example of both concentration risk (all the Bennet household money came from one single source, the estate, which would by the entailment go away the second Mr. Bennet died) and the folly of inaction when it comes to saving for the future.
Lessons for Investors: Don’t get stuck in Status quo bias, drifting aimlessly just because action feels costly. Have a financial goal, make a plan, and execute on it.
2. Longbourne: Illiquidity of Assets Could be a Problem
Longbourn is a single asset, which is why there is concentration risk, but it is also entailed, meaning it cannot be sold or liquidated. There is a liquidity risk here. A friend of mine is in a similar position 200 years after Pride and Prejudice was published. She has two houses in Nova Scotia, but because of the housing market crash, she can’t sell either unless she is willing to accept a loss. In the meanwhile, she is working two jobs to make the payments on the homes. On paper, she is a millionaire, but in reality, she feels like she is broke. Illiquidity in your portfolio is a problem, especially if you need money in a hurry.
Lessons for Investors: Make sure you have liquidity built into your portfolio. Ideally, have an emergency fund of 3-6 months of expenses, which can help you weather any financial storm that blows your way.
3. Mr. Wickham: Stay Alert for Fraud and Scams
George Wickham is the villain of the piece, in a manner of speaking. He starts by being described as incredibly handsome, and is a confidant of Elizabeth, and near the beginning of the novel, manages to set her against her primary love interest, Mr. Darcy. As time passes, Wickham’s true nature becomes apparent, and he is described as, “imprudent and extravagant.” Eventually, he elopes with Elizabeth’s 15-year-old sister Lydia, at which point, “All Meryton seemed striving to blacken the man (Wickham) who, but three months before, had been almost an angel of light. He was declared to be in debt to every tradesman in the place, and his intrigues, all honoured with the title of seduction, had been extended into every tradesman’s family. Everybody declared that he was the wickedest young man in the world; and everybody began to find out that they had always distrusted the appearance of his goodness.” Eventually he has to be bought off by Mr. Darcy and forced to marry Lydia to preserve her honor. It is hard to see whether happiness will truly come of this marriage. In short, Wickham is both a financial fraud and a romantic scamster. There are plenty of scams to watch for in 2026 as well.
Lessons for Investors: The Halo Effect is a cognitive bias that leads us to believe that smart and attractive people are also good at other things. In Wickham’s case, people trusted him, where they should not have. In life, it is best to be a bit suspicious, especially if something or someone seems too good to be true. Do your own research.
4: The Gardiners: The Power of Compounding
The Gardiners, Mrs. Bennet’s brother and his wife, are tradespeople. In regency England of the 1800s, they were socially inferior to the landed gentry. Despite this, the Gardiners are the most financially rational characters in the novel. Through prudent financial decisions, they grow their wealth, in steady and reliable ways. Over time, their income grows, and in a way, so does their social influence, as they manage to bring about the marriage of Elizabeth Bennet and Fitzwilliam Darcy. A modern day equivalent of this would be someone who saves and allows the power of compounding to do its work.
Lessons for Investors: Save early, safe often. Even small amounts saved early on in your career can lead multiple results in the future.
5. Mr. Bingley: Too Much Liquidity, Not Enough Long-term Savings
The great beauty of the Bennet sisters is the oldest sister Jane, who is considered the most beautiful woman in the neighbourhood. She falls in love with Charles Bingley, who has “four of five thousand a year,” and had, “inherited property to the amount of nearly a hundred thousand pounds from his father, who had intended to purchase an estate, but did not live to do it.” As a result, Mr. Bingley rents the home in which he lived. He is an example of someone who did not convert his capital into long-term investments. This means he had the opposite problem of Mr. Bennet – too much liquidity and not much by way of long-term investments.
Lessons for Investors: Mrs. Bennet suffers from something called anchoring bias, a cognitive bias in which we become obsessed with the first piece of information we receive about a situation. She hears Mr. Bingley has “four or five thousand a year,” and that’s all she cares about. She never bothers to find out about anything else. Don’t be Mrs. Bennet, or Mr. Bingley. Invest wisely.
The Final Word
Pride and Prejudice is a very good book, and one that has multiple layers. Investors can glean many insights from it. If you read and liked it, drop me a line about what you thought!
Disclaimer
The opinions and views expressed in this book are those of the author and do not necessarily reflect the views of Harvest ETFs. Similarly, the opinions and views expressed in this review are solely those of the reviewer (the Author) and do not represent the views of Harvest ETFs. The Author and Harvest ETFs have no affiliation with the author of the book.
Investment decisions should be made in consultation with a licensed and experienced investment professional. This review is provided for educational purposes only and should not be interpreted as investment advice.
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