Let’s make a wager. You have five days to drive across the country. If you make it in less than five days, you will win $20,000. If you don’t, then you owe me $10,000. There are some caveats to this deal: First, you have no map, compass, GPS unit or directions — nothing that will assist you on your journey. Second, there are no road signs; only mile markers. #-ad_banner-#Are you still willing to blindly drive across the country risking $10,000 at the chance you’ll make $20,000? In this scenario, it’s… Read More
Let’s make a wager. You have five days to drive across the country. If you make it in less than five days, you will win $20,000. If you don’t, then you owe me $10,000. There are some caveats to this deal: First, you have no map, compass, GPS unit or directions — nothing that will assist you on your journey. Second, there are no road signs; only mile markers. #-ad_banner-#Are you still willing to blindly drive across the country risking $10,000 at the chance you’ll make $20,000? In this scenario, it’s easy to tell that taking this bet is a bad idea, but this sort of blind gambling is indicative of how many average investors navigate the markets. Most investors buy a stock and hope that it goes up. When it doesn’t and the stock plummets 20%, 30% even 50%, they continue to hold on… clinging to that hope that it will soon rebound. Well I’m here to tell you: hope isn’t a strategy. If there’s one thing you need to learn when it comes to investing, it’s how to invest with… Read More