Post: #1

I stumbled on this wise article

"Inversion allows you to see a problem or situation from a different perspective in order to gain fresh insights that you did not previously notice or that you took for granted. It is in that spirit that I offer the following advice for how to be a poor investor..."

My personal favourite pieces of advice on how to fail in life:

Be unreliable;

Ignore the experience of others, both living and dead;

If you get knocked down in life, stay down.


http://x.nu/6.hp2

Post: #2

"Reliable" is a word that isn't used enough.
People don't understand how bad it is when you say you're going to do something and don't do it.

Post: #3

(01-18-2013 02:08 AM)Thomas the Rhymer Wrote:  Ignore the experience of others, both living and dead;

This is probably the biggest mistake we make as individuals and as groups of people. Very few situations are unique. As far as national/world economies are concerned, I haven't found a current situation that hasn't happened at least a few times in the past five hundred years.

An example is anyone who has read about the "Mississippi Bubble" in detail, can easily see the fallacy of the EU and USA's monetary policies in dealing with the current economic crises.

Herbert Hoover's New Deal that became FDR's New Deal at the start of the Great Depression is another example.

Being an avid student of history has helped me tremendously in my personal and financial life.

Post: #4

(01-18-2013 11:07 AM)Katatonic Wrote:  

(01-18-2013 02:08 AM)Thomas the Rhymer Wrote:  Ignore the experience of others, both living and dead;

This is probably the biggest mistake we make as individuals and as groups of people. Very few situations are unique. As far as national/world economies are concerned, I haven't found a current situation that hasn't happened at least a few times in the past five hundred years.

An example is anyone who has read about the "Mississippi Bubble" in detail, can easily see the fallacy of the EU and USA's monetary policies in dealing with the current economic crises.

Herbert Hoover's New Deal that became FDR's New Deal at the start of the Great Depression is another example.

Being an avid student of history has helped me tremendously in my personal and financial life.

I've started doing this, I love history and have studied it for my whole life but for some reason never saw the situations that had been repeated often. It wasn't until recently I learnt that a lot of businesses copied certain things Alexander The Great did and still do. Now I'm always seeing these sort of things and thinking shit that mirrors what "blah blah" did.