Keys to financial success
Consensus and other Dangers
the larger the crowd, the dumber
Disregard the majority opinion, it is probably wrong, especially at extremes! Always distrust emotions.
Avoid putting down roots. Do not become
trapped in a souring venture because of sentiments like loyalty or
nostalgia. If you drive a Chevy, you don't have to keep your GM stock.
Don't marry your investments, they don't love you. The stock does
not know you bought it, and will not care that you sold it. Take the
small loss and find a better venture. Time = Money, don't put them
on hold. Never hesitate to abandon a deal if something more attractive
comes into view. Jump at the better looking venture. Don't let short
term blips distract you from a formulated goal; know
the volitility of an investment before you purchase it.
Don't be tied to things or possesions.
Things can bind. Stay Mobile, root in relationships, not to things.
The only thing God is taking
off this planet is people.
Never follow Speculative fads. Often, the best time to buy something is when nobody else wants it! Sell when everybody wants it!
You can be perfectly right on the event,
but wrong on the time, and lose on your speculation. Inevitable does
not mean immediate. The bigger the expected event, the longer it will
take to happen! Well bought, (in price and time), is half sold, (profitably!).
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