The Equinox Mind: How Evolution, Dopamine, and Valuation Shape Our Sense of Time

 Human beings do not simply exist in the present—we project into the future. Nowhere is this more quietly revealed than at the equinoxes. On paper, spring and autumn equinoxes mirror each other: equal daylight and darkness, mild temperatures, balanced nature. Yet emotionally, they could not feel more different.

From the autumn equinox onward, daylight fades and shadows stretch. Even beneath a golden sun, we sense retreat—the silent warning that winter is near. From the spring equinox onward, the light expands. Even when cold lingers, we feel hope, because we know the sun will keep rising. Identical weather, identical light—opposite feelings. Why?

Because the human brain is not a recorder of the present; it is a simulator of the future. Across millions of years, evolution favored not the creature that reacted fastest, but the one that anticipated best. Those who sensed approaching scarcity at the fading of light prepared and survived. Those who felt excitement when the sun returned took risks and thrived. Our emotions, in essence, are forecasts.

At the core of this mechanism lies dopamine—the neurotransmitter of anticipation. Dopamine is not truly released when we get what we want, but when we expect something good to come. It’s the brain’s way of saying, “Keep going; the reward is near.” Spring, with its lengthening days and promise of warmth, amplifies this signal. Autumn, with its shortening light, dampens it. The sunlight is the same, but the expected trajectory changes the chemistry of our mood.

This is the same logic that drives markets. A company’s worth is not in its current profits but in the discounted value of its future cash flows. Human feelings operate under the same principle. When the future looks abundant, our “emotional discount rate” falls—each present moment feels richer. When the future looks uncertain, that rate rises—our joy deflates.

Spring is dopamine’s dividend season; autumn, its cautious audit. Yet wisdom lies in mastering this biological accounting—to recognize that life’s valuation should not be enslaved by the immediate forecast. Even when daylight wanes, we can choose to feel the promise of its return.

After all, in both markets and life, the greatest investors are those who keep faith in the long cycle—and hold on to spring even as the leaves begin to fall.

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