Limiting Belief 9 - Investors have a specific knowledge that most people cannot have
Do Investors Have A Specific Knowledge That Most People Cannot Have?
It is true that investment requires some education and research on the part of the investor. Warren Buffet recommended that investors never invest in a business they cannot understand. He also added, “What counts for most people in investing is not how much they know, but rather how realistically they define what they don’t know.” In other words, investing in what you don’t know or understand cannot be classified as investing. Actually, investing in something you do not understand is pretty much like gambling.
A good example is my friend who bought two expensive properties off-plan by following the advice of an agent that he will more than double his money in four years. My friend is counting on luck. I really do wish him all the luck.
Real investment is investing in what you know and fully understand. If you do not have deep understanding in any specific area, I encourage you to look for a topic that greatly interests you and commit yourself to studying and researching it to become an expert in it over time. Nowadays, with the fast evolution of the Internet and digital media, you can instantly get answers to any area of interest. If real estate is an area you would like to educate yourself on, The Employee Millionaire program (www.employeemillionaire.com) becomes quite handy in your journey.
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Get The Employee Millionaire Audio Book For Free With 30 Day Audible Trial
It is true that investment requires some education and research on the part of the investor. Warren Buffet recommended that investors never invest in a business they cannot understand. He also added, “What counts for most people in investing is not how much they know, but rather how realistically they define what they don’t know.” In other words, investing in what you don’t know or understand cannot be classified as investing. Actually, investing in something you do not understand is pretty much like gambling.
A good example is my friend who bought two expensive properties off-plan by following the advice of an agent that he will more than double his money in four years. My friend is counting on luck. I really do wish him all the luck.
Real investment is investing in what you know and fully understand. If you do not have deep understanding in any specific area, I encourage you to look for a topic that greatly interests you and commit yourself to studying and researching it to become an expert in it over time. Nowadays, with the fast evolution of the Internet and digital media, you can instantly get answers to any area of interest. If real estate is an area you would like to educate yourself on, The Employee Millionaire program (www.employeemillionaire.com) becomes quite handy in your journey.
Learn More!
Get The Employee Millionaire Audio Book For Free With 30 Day Audible Trial
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