For almost 5 years, I went without a watch. Not a big deal to most people, probably, but within the previous few years, I had invested in a nice Jaeger-LeCoultre Reverso, a titanium Omega Seamaster, and a Panerai Luminor Marina back in 2001 before Panerai's were the must-have watch they've become since. I sold all of those watches at one time or another to plow some cash back into the fledgling business, and I'm they type that would rather have no watch, than a cheap watch. More importantly, I'd rather have no watch than a fake watch.

According to a recent study, it looks like I was doing my self-esteem a favor. Scientific American magazine -- whom you cannot argue with since they are scientific and patriotic at the same time -- wrote about some new research that suggests that buying counterfeit luxury goods may turn you into a cyncial, lying, cheating cheater.

"That’s why we buy knockoffs, isn’t it? To polish our self-image and broadcast that polished version of our personality to the world—at a fraction of the price. But does it work?...New research suggests that knockoffs may not work as magically as we would like. Indeed, they may backfire. Three scientists...have been exploring in the laboratory the power and pitfalls of fake adornment. They want to find out if counterfeit labels might have hidden psychological costs, warping people’s actions and attitudes."

Read the full abstract (it's a quick read) here.