Way of the Turtle Summary

Way of the Turtle SummaryThe Secret Methods that Turned Ordinary People into Legendary Traders

Everything you wanted to know about the Turtles is right here! The process of their recruitment, the lessons they learned, the things they went through.

A highly recommendable, enjoyable text!

Who Should Read “Way of the Turtle”? And Why?

Anyone who knows about the Turtles.

Anyone who hasn’t got the slightest idea about who the Turtles are.

Anyone (not) interested in trading.

This one, it’s a superb one. Believe us!

About Curtis M. Faith

Curtis M. FaithCurtis M. Faith is an author, innovator, and a former Turtle himself.

Way of the Turtle Summary

Do you believe anyone could become master in trading with just a little bit of help from a pro in the area?

Is your answer no? Read this!

At first, William Eckhardt thought that it wasn’t possible too. However, his friend Richard Dennis, who was a trading expert just like Eckhardt, proved him wrong.

He chose thirteen people, good with numbers, and in a two-week period, he taught them everything he knew about trading.  

The result of it? Thirteen new, highly trained, traders on the market.

But let us first explain you the difference between traders and investors. In fact, the difference lies in their goals. While traders are eager to take risks and aim for the intangible, like stocks, for example, investors want to play it safe. Which is no wonder why they prefer buying businesses.

According to him, being emotional in this business is not allowed as it will ultimately devastate you. Unless you learn how to profit out of the decisions other people make based on their feelings.

One of the techniques traders usually use for making their investment plans is trade following. It is a strategy that helps them take as much as possible out of every move they make in different markets. Although this may be highly profitable as a strategy, it is quite risky as well, so one needs to be careful.

Additionally, he taught his trainees the four basic rules that could help them when making deals.

The first one is the usage of the trading edge. This is an approach technique based on the trader’s gained skills. Its purpose is to guide the trader through the whole process and help them find the most profitable opportunity.

The second thing the Turtles learned during their training was how to control the risk by controlling their flaws. They were also taught that to be a successful trader demanded to stick strictly to the rules of the system they used.

The fourth and last lesson to learn was that simplicity makes the process easier.

But wait, that’s not all!

Remember that when entering into a business such as trading, there is no room for your ego? Nevertheless, during this training, the trainees were trained to be prepared for the worst possible scenario every time they traded and to put their feelings outside the business.

The reason?

The future cannot be predicted by anyone, and one positive outcome doesn’t mean that you are a pro in the business.

For everyone involved in this work, it’s crucial to have a precise plan for every deal to be made. There isn’t any possibility to take actions based on your gut simply because feelings may deceive you and you will lose money.

So, if you want to win bigger things, then the best for you is to use an edge that will guide you through the whole trading process. This means that it will help you see when it is the right time to enter or leave and where the risk is smaller. Sounds promising, right?

Given that this profession is quite risky and unpredictable, finding possible negative results is helpful. Knowing this, Dennis made his Turtles find the best working strategy for them by trying different measures.

Key Lessons from “Way of the Turtle”

1.      The future is unpredictable
2.      There is no room for your ego in this business
3.      If you want to be the best you need to experience the worst

The future is unpredictable

No matter how good you are in the trading business, and what method you are using to predict the possible outcome, there is always a possibility to lose money. This happens because you are not a fortune teller and you can’t predict the future. No one can.

For some, the risk and the anticipation are the things that make this profession so interesting. So, if you aren’t willing to take chances, this could be the wrong profession for you.  

There is no room for your ego in this business

The competition in this business is harsh and merciless. And for someone who wants to be among the best, it is not acceptable to mix their feelings with their work.

However, on the other hand, if some inexperienced traders do this you can take advantage of it.

If you want to be the best you need to experience the worst

Let’s be honest. There is no gain without pain. Everyone has failed many times before getting to the top. You shouldn’t be afraid of the failure. In fact, you become better if you learn from the mistakes you make.

If you want to be a trading master always be prepared for the worst possible scenario. That’s the only way to get to the top.   

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“Way of the Turtle” Quotes

We're going to raise traders just like they raise turtles in Singapore. Click To Tweet Good traders don’t try to predict what the market will do; instead, they look at the indications of what the market is doing. Click To Tweet Trading is not a sprint; it’s boxing. The market will beat you up, screw with your head and do anything it can to defeat you. Click To Tweet Human emotion is both the source of opportunity in trading and the greatest challenge. Master it and you will succeed. Ignore it at your peril. Click To Tweet Traders do not buy physical things such as companies; they do not buy grains, gold or silver. They buy stocks, futures contracts, and options. Click To Tweet

Our Critical Review

While “Way of the Turtle” is undoubtedly entertaining and instructive, it should not be the only book you own in your home on this topic. It lacks more comprehensive details about trading. Somewhat inconsistent at times, too.

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Investing 101 Summary

Investing 101 SummaryDo you wonder how people invest and make money, and why you do not do it so successfully?

Well, your wrong investing habits may be the ones that are on your way.

In the summary of “Investing 101,” we cover the bad habits, how you can get rid of them, and why you need to create a portfolio of investments.

Who Should Read “Investing 101”? and Why?

Wannabe investors, you have to read this book!

If you are not investing, there must be something that is keeping you away from it. “Investing 101” will give you the proper motivation to start putting your money to work, by explaining how investing works in simple and understandable words.

As you have probably concluded by now, we recommend this to all beginner investors, who are having second thoughts because of the lack of their financial expertise.

About Kathy Kristof

Kathy KristofKathy Kristof is a columnist and book author. Her finance column is published in more than 50 major newspapers.

“Investing 101 Summary”

If you have no problem following clear guidelines, investing will not be troublesome for you.

However, many people cannot follow directions because of their bad habits which stand on their path to becoming wise investors.

So, if you want more money by the time you retire, we propose you start getting over these psychological limitations.

People who abstain from putting resources into the stock are typically afraid of the hazard that comes with it.

However, you have to keep in mind that these feelings of dread are there because of misunderstanding. Moreover, if you decide to put some time into understanding market risk, we promise you that you will soon be able to improve your investment portfolio.

Simply put, in the financial world, the risk equals uncertainty. In other words, the risk is not connected to the likelihood of loss, but to the variance in the returns.

However, that is not all there is to it.

Risk and rewards are also connected.

So, although stocks are considered risky investments, the odds are that in the long-haul their value will increase. Yes, low-risk investments will protect your principal, but the profit you will get out of them is not much.

Of course, there are ways you can earn money while staying safe. At this point, the need to create a diversified portfolio comes into play.

The diversification of portfolios will dramatically decrease risk. However, merely having a bunch of investments is not what “diversified portfolio” means.

Instead, try to make many different types of investments. The trick is to diversify just enough, so you can minimize the risk and stress, but not to the point where you will sacrifice your profits for the long haul.

For more detailed explaining of the information we have given you, read “Investing 101”. Next, scroll down to the key lessons we have taken out from this book.

Key Lessons from “Investing 101”

1.      Investment Categories
2.      Bad Investing Habits of Women
3.      Bad Investing Habits of Men

Investment Categories

There are five basic categories of investments, that show what the investment does, not what it is.

  • Investments that safeguard your principal
  • Investments that provide income
  • Investments that promise strong growth of your principal
  • Investments that protect you from inflation
  • Investments that allow you to speculate

Bad Investing Habits of Women

  • The Poor Girl

Women earn less than man. That is a fact. However, that does not mean that women cannot save money to invest. Life is not always fair, but you have to get over it. If you have a decent job, you can make investments.

  • The Substitution Shopper

Stop buying so that you can cheer up. Instead, be wise and save, save, save.

  • The Martyr

The martyr woman puts everyone’s concerns above her own. These women need to realize that their families will be happier if they get manage stronger both financially and physically.

  • The Princess

Princesses tend to think that there will always be someone who will take care of them. However, they need to realize that most of the women will have to start supporting themselves at some point.

Bad Investing Habits of Men

  • The Unrealistic Pessimist

You are making money on your investments, but it all goes down the drain when you meet someone that says that they tripled their investment in a speculation market. Then, you begin to doubt your investing strategy and start feeling like a loser. Stop that. Realize that people that make a fortune overnight can just as quickly lose it.

  • The Ostrich

Ostriches hold on to money-losing shares until they lose too much. Instead of doing that, evaluate your portfolio once a year, and sell stocks which you would not buy today when looking at its prospects.

  • The Tinkerer

Internet stock trading created this kind of investor. The tinkerer continually checks stocks and trades for a few dollars per transactions.

  • The Believer

Believers buy stocks of companies that don’t have a track record of sales but show a significant number of prospects.

  • The Money-Lover

Many investors out there overwork themselves. To avoid that, decide how much money you want to earn to achieve your personal goals. Once you reach that amount, relax. Spend more time with friends and family. Spend the money on fun activities. In the end, that what money is for, isn’t it?

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“Investing 101” Quotes

If you plan to invest for only a few years, stocks boil down to a gamble. This is not a wise place to invest your rent money. Click To Tweet Diversifying dramatically reduces your risk. Click To Tweet You want to be careful not to put more money in safe, low-yielding investments than absolutely necessary. Click To Tweet When you invest in stocks, you risk losing your initial investment, but because you are taking a bigger risk, you get the opportunity to earn far bigger rewards. Click To Tweet Stocks are also ideal to have in your retirement portfolio. The younger and farther away from retirement you are, the more stocks you can handle. Click To Tweet

Our Critical Review

Kathy Kristof has written the ideal manual for those who are puzzled by the world of finance. “Investing 101” is a simple book filled with facts and explanations of financial terms and instruments, stock-valuation techniques and simple investment wisdom.

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Fast Stocks, Fast Money Summary

Fast Stocks, Fast Money SummaryHow to Make Money Investing in New Issues and Small Company Stocks

Economy, stocks, brokers, the market. They don’t quite sound like a walk in the park, do they?

But what if we told you that there is a book that makes all these terms a lot more interesting?

Don’t believe it?

Hop in!

Who Should Read “Fast Stocks, Fast Money”? And Why?

Are you a broker? An investor? A businessman? Or perhaps somebody who is interested in and wants to know a bit more about small-cap stocks?

Congrats, you’ve made the right choice!

About Robert Natale

Robert NataleRobert Natale is an expert, a managing director, as well as a portfolio manager. He used to edit the Standard & Poor’s Emerging and Special Situations newsletter for over ten years.

“Fast Stocks, Fast Money Summary”

Are you a businessman looking for some new issues to invest in? Great! Because now is the perfect moment to put your money into some small-cap stocks. You wonder why?  Well, they have never been cheaper in the past thirty years and compared to the large caps the risk is not much higher.

However, you should always take into account the possible risk of an investment, especially if you are willing to take some bigger steps forward.

What’s more, if you are in possession of some stocks, keep in mind that it’s always better to have them in different industries to reduce the possible danger of losing money.

The stocks’ financial value depends on three things: PE ratios, profit, and increasing values.  According to the Rule of 20, you shouldn’t buy any stocks if PE ratios are over twenty, and the interest rates are rising.

But that’s not all.

You should be careful while investing initial public offerings (IPO) because it brings greater risks. However, if you decide to do it anyways, don’t forget that, it’s better to buy in the first three months of the IPO process, or to buy the first IPO of a specific industry.

If you want to make a good deal always take into consideration the pros and cons of the IPO you are interested in. For every IPO there is a prospectus giving you the necessary information, both positive and negative ones, so don’t miss to read it.

To avoid adverse outcome while purchasing stocks, stay away from blind pool IPOs. The problem with these is that there is no clear plan for the money raised from the investors.

So, here is the thing.

More people are interested in buying shares than there are shares on the market. So, if you want to be great at what to do, it is imperative to have a good connection with as many brokers as possible.

It is also essential to make some smart decisions while buying growth stocks. For example, you should always look for growth at a reasonable price (GARP). This means that you should find a company with a constant increase in earning money which is not overvalued.

How to know if the company is worth the money? Just use the Graham and Dodd stock-valuation formula. How to use it?

First, you need to multiply the coming year’s profit per share with the doubled yearly growth rate. Then you multiply this result by 4.4. Finally, divide the result you got with the possible growth rate for the next few years. The final result can help you predict the eventual outcome.

When it comes to buying value stocks, remember that in the long run, it is better to invest in them rather than in growth stocks.

Important to mention is that you shouldn’t always follow the opinion of the market regarding business. Sometimes, some companies deserve to be taken into consideration even though the market doesn’t believe it is a good deal.

That’s why you should always search for businesses which have potential in bringing you money shortly.

Key Lessons from “Fast Stocks, Fast Money”

1.      The risk is inevitable
2.      Everything has its positive and negative sides
3.      The right people can get you the real money

The risk is inevitable

Being an investor is not an easy job at all. Like every other business, it requires a lot of work and knowledge. What is more important is that you need to be ready to take the risk if needed.

This is maybe one of the most uncertain jobs because there is always a possibility to lose everything. Unfortunately, there is nothing you can do about it. You can help yourself by always being prepared for the worst-case scenario.

Everything has its positive and negative sides

While buying stocks don’t forget that even the smallest details about the matter. So, if you don’t want to get yourself into trouble while investing, you should always pay attention to everything, especially to the given risk factors.

If there are more pros than cons, then probably you are on the right track, and you should give it a try. If not, then maybe you should wait for a better opportunity.

The right people can get you the real money

In this business with investing and buying stocks, if you have the right people beside you it is more likely to have a better outcome, just like in every other job. A good relationship with the people who know the best the field can help you grow much more quickly than if you do everything by yourself.

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“Fast Stocks, Fast Money” Quotes

If your time horizon is more than five years, history tells us that small stock ownership is not all that much riskier than owning stocks in general. Click To Tweet Value beats growth over the long run because investors systematically overvalue the growth of well-positioned companies in rapidly expanding industries. Click To Tweet The key to beating the market averages is making small sector bets and picking the right stocks within each industry. Click To Tweet The quality of the lead underwriter(s) is a major clue as to the overall quality of the deal. Click To Tweet The key to successful growth stock investing is not picking the biggest winners but avoiding the big losers. Click To Tweet

Our Critical Review

Even though “Fast Stocks, Fast Money” offers some pretty good advice, it seems like the book is rather intended for newbies, than for experienced and already proven “players”.

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Rule 1 Summary

Rule 1 SummaryThe Simple Strategy for Successful Investing in Only 15 Minutes a Week!

Have you ever thought about investing? Have you wanted to learn the “science” behind it, but you thought you are just not right for it?

If you are reading this, you have most probably been there.

Most people think that only experts belong on the market and that not anyone can profit.

“Rule 1”, however, destroys these popular myths and instead presents you with a way to do what was once thought to be undoable: beat the market.

Keep reading our summary and learn what the only rule you should have in mind is.

Who Should Read “Rule 1”? and Why?

Let’s take a moment and be honest here.

You read the business section of the daily newspaper, you get the bulletins from Wallstreet, and you wish you knew how to invest. However, a big part of you thinks that investing is a gamble, and you would much rather find a low –risk solution for your earnings.

You may have had those thoughts until know, but Phil Town will change them all!

In his book “Rule 1” he gives you useful, practical and proven solutions for making a profit on the stock market.

We recommend this book to all wannabe investors and puzzled participants on the stock market. Live by Phil’s rule and start earning.

About Phil Town

Phil Town is a motivational speaker, author, and millionaire. In the past, he was part of the U.S. special forces in Vietnam, a dishwasher and a river guide. Then, he learned how to invest.

And, you know how they say – the rest is history.

“Rule 1 Summary”

When it comes to investing, there are only two basic rules: Rule #1(tm): Don’t lose money and Rule #2: Don’t forget Rule #1(tm).

Yes, we may have oversimplified it, but in essence, you will find that those are the bases for each investment.

Rule #1(tm) repudiates three famous market myths:

“Rule 1” offers you another reality.

What do we mean by that?

Here it is:

  • Investing is a snap, and you can ace it by working for 15 minutes a day on your stock portfolio.
  • It is not impossible to beat the market. In fact, you can figure out how to target underpriced stocks and get at least 15% returns on your investment.
  • Forget the banalities about diversification and buy-hold methods. Instead, use the Rule #1(tm) equation: Purchase stocks for 50 cents on the dollar and sell when the stock is trading at a dollar-for-dollar value.

The Rule #1(tm) fundamental point is: Don’t lose money. Indeed, there are no guarantees for anything in life, but you can limit risk by acquiring shares in good companies which are selling at bargain prices.

To do so, you have to stay aware of the “Four Ms.”

  • Meaning
  • Management
  • Moat
  • Margin of safety

How do we explain these “Four Ms”?

Well, to start with, put your cash where your heart and mind are and invest in profitable organizations which are significant to you. If you are a “foodie”, target firms operating in the food industry, if you are a fashion addict, invest in retail clothing shares.

Next, look for publicly traded corporations which are in possession of great management teams.

Furthermore, find companies that have barriers to entry and build walls around their profits.

Finally, invest securely by purchasing discounted shares that fulfill the other three “Ms.” You cannot lose much if you make sure you purchase stocks at low costs.

However, that is not all!

Next, we give you, even more, lessons which will help you comprehend the road to being a great investor more deeply.

Key Lessons from “Rule 1”:

1.      Buy Stocks With Pride
2.      Find the Moat
3.      Key Performance Numbers

Buy Stocks with Pride

If you are a Rule #1(tm) investor, you are not a market speculator. Instead, you are an investor who takes pride in owning great companies.

Your choices rank and endorse the companies you invest in. For instance, if you buy stocks in a firm that uses animal leather for making its products, your investment is equal to approval for that kind of production.

Hence, make sure that you align your choices with your values and ethics.

Find the Moat

Warren Buffett, one of the most famous billionaire investors, trusts in entry barriers, also called moats. An organization without a barrier to entry is equal to a stock price merely waiting to fall. High barriers to entry are hard to penetrate.

Rule #1(tm) investors should purchase shares in organizations with a high wall built around future profits and growth.

Mots can take up several forms. However, there are five basic types:

  1. High-profile brand names (The Coca-Cola Company, Adidas, and Disney).
  2. Trade secrets and intellectual property protection
  3. Gate-keeper products that control niche markets
  4. Expensive entrenched products where it is hard for users to swap for another brand
  5. Low-cost, category busters such as Wal-Mart, Target or Home Depot.

In case the company lacks some protective moat, maybe it is time to consider investing elsewhere.

Key Performance Numbers

You can use some specific tools and measurements to make sure that you invest in companies with financial strength and will allow you to get Rule #1(tm) returns. Such measurements are:

  • Return-On-Investment Capital (ROIC)
  • Sales
  • Earnings per Share (EPS)
  • Equity or book value
  • Free Cash Flow

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“Rule 1” Quotes

My advice: Go find a wonderful business at an attractive price and live like a king when you retire. Click To Tweet Rule # 1 investors buy when others are fearful and sell when others are greedy. Click To Tweet Figure out what the sticker price is and pay less. Click To Tweet Be proud of what you own. Click To Tweet Read the annual reports. Ask yourself: Is the CEO being compensated as an owner or as a mercenary. Click To Tweet

Our Critical Review

“Rule 1” is packed with helpful charts, understandable explanations, and useful financial insights. Phil offers a map for finding an investment treasure. Of course, like many other how-to books, “Rule 1” can get a bit repetitive from time to time, but the investment advice you will get in the end is worth going through the repetitiveness.

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What Color Is Your Parachute? For Retirement Summary

What Color Is Your Parachute? For Retirement Summary

Planning Now for the Life You Want

Retirement planning is harder than ever, especially for the American citizens. According to experts, the Americans’ savings rate days march towards certain defeat helped by the Social Security disaster.

We intend to give you a clue on how bad the situation is, so that you can alter your mindset, and change your future.

Who Should Read “What Color Is Your Parachute? For Retirement”? And Why?

By all means, Richard N. Bolles and John E. Nelson have enough expertise to assist you. We give this book thumbs up, due to its highly impartial and realistic point of view on the retirement programs worldwide. In other words, rating this classic wasn’t exactly as hard as the topic we are about to discuss due to its comprehensive, challenging facts linked to retirement planning.

I am too young to think about my old days. Don’t be so sure; the struggle starts even before you’ve engaged yourself in some activity. In general, we prescribe “What Color Is Your Parachute? For Retirement“ to all people, regardless of their status, or age.

About Richard N. Bolles & John E. Nelson

Richard N. BollesRichard N. Bolles was born on March 19th, 1927 and passed away 90 years later on March 31st, 2017. He left a legacy of good books, which changed the way people interpret life and retirement.

John E. NelsonJohn E. Nelson is considered to be an expert in retirement and pension planning.

“What Color Is Your Parachute? For Retirement Summary”

The society has compromised many aspects existing nowadays, including retirement. We can no longer feel absolutely sure, that we understand the exact meaning. In the old days, when we say old we referred to 50,60 years ago, workers from capitalist and communist countries had a special treatment from the companies or organizations where they created value.

Here’s the deal:

Their contribution served almost as a guarantee that at the end of the road, they will get their fair share of the Global dream.

The fundraising process began with personal savings, and added up to this program were the social security payments which kicked in to create a diversion. It’s worth mentioning that this so-called retirement program was embedded deeply in people mindset, unlike today.

Here’s the worst part:

The days of working in a single company for 50 years are unknown to today’s population. In the world of uncertainty, we can only say – How the world has changed!!   

Stay with us, to have a clue about what it’s actually happening:

These days, when the battle for survival has reached its point of no return, the ordinary people are always the underdogs, deprived of job security, that they once had. In the harsh world full of envy, pensions are perceived as an archaic instrument, entirely unnecessary.

The margin of error is very low, probably even not existing, leaving you stuck between two fires that can cause serious damage. People who want their struggle to be rewarded at the end of their professional endeavor, are now forced to worry too much. The planning process doesn’t leave room for making a mistake and thus contributes to the creation of an elaborate retirement plan.

First and foremost, we cannot run away from the aging process, just like any other person, one day your time will come. Do you prepare to welcome this day, with excitement instead of financial misery? If you are still on thin ice, Richard N. Bolles and John E. Nelson will help you stand firm on your feet, and do something about this issue.

You might be interested to know the modern age pros and cons:

The 21st century, brought many new things, including a unique perspective for creating a pension plan. As we said, one must not live under the same rules, as our parents or grandparents once used to. New financial metrics prompt a new way of life, filled with precarious employment and insecure retirement savings or investments. However, the modern society presents a couple of options for handling these issues:  

  • Starting a whole new career, and avoid the need for retirement
  • Invest your earnings and become a top-notch entrepreneur.
  • Renegotiating your status, so that you’ll only be engaged in tasks that you find attractive.
  • Going from full-time to part-time status in your company.
  • Begin your “revolving retirement,” program, where you can return anytime, and contribute periodically.
  • This adds to option number one, instead of retiring you can offer consulting services in the company, besides – What do you have to lose.

Key Lessons from “What Color Is Your Parachute? For Retirement”

1.      Manage your money
2.      Start planning today
3.      Facts are crucial

Manage your money

How to allocate your financial resources adequately, is a question of million dollars. In fact, the budget plan should include necessary expenses like loans, or mortgage and other utilities. But aren’t we forgetting something? – Of course, fundraising for the old days – approach it with utmost sincerity and openness.

Start planning today

The financial matter interests us the most, so let’s stick to it. While reading “What Color is Your Parachute? For Retirement”, you should ponder and imagine yourself being in a tight spot, in the hope of finding that inspiration to design a retirement plan.

Facts are crucial

Now, more than ever, you must engage in gaining access to trustworthy, reliable, information. Generally speaking, this makes the whole difference in the world, because it allows to evaluate your current status and make smart decisions while following a specific criterion. In fact, this is the only way to plan your retirement correctly and ultimately receive your “bonus”.

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“What Color Is Your Parachute? For Retirement” Quotes

I know that someday I will die, but I will never retire. Click To Tweet Because happiness can easily be packaged and sold to you as a product or service, the first level of retirement happiness is a very big business. Click To Tweet Retirement hogwash is a polite term for the persuasive messages that the retirement industry marketers use to lure you into buying their version of retirement. Click To Tweet It's easy to imagine moving for retirement, but it's not easy to actually make the move in a way that supports your retirement well-being. Click To Tweet

Our Critical Review

Unquestionably this book has a lot to offer. In spite of having all these books talking about investments and finance, how often do we find a classic which adjusts to the demands of the “no-retirement” era?

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Get a Life Summary

Get A Life SummarySetting Your ‘Life Compass’ for Success

Take a look at your life. Do you like what you see? Do you think you live to your full potential?

No matter where you are at the moment, you can map your way towards a higher satisfaction and more significant success with navigational tools that can give you direction and a sense of purpose.

These tools are packed in the “Life Compass” package, which contains six points: career, mind/body, finance, relationships, fun, and contribution.

In this summary we will teach you these six points, we will show you how to use the “Life Compass” to gain control over your life.

Let’s begin.

Scroll down to our “Get a Life” summary, and find the answers to all your questions.

Who Should Read “Get a Life”? and Why?

If you are just starting out in the self-help genre, this book is perfect for you. Make sure you put it in sight so you can always go back to Bate’s recommendations and implement them in your life. If you follow his advice, you will become more motivated and ready to take your life into your hands.

We recommend this book to people who want to reshape their lifestyles and learn how to balance between happiness, satisfaction, and productivity in each area of their lives.

About Nicholas Bate

Nicholas Bate is an author and a founder of Strategic Edge, a consultancy that helps people reach their full potential.

“Get a Life Summary”

In the modern, fast-paced world, you are swimming in a pool of commitments. You work a lot and have a little spare time. In that one-dimensional universe where you live, work is everything.

I know what you are thinking: there has to be something more to life than work, right? There is. Moreover, it is up to you to discover your life’s full potential.

Be honest with yourself about your objectives, dreams, and aspirations. Utilize your unrealized desires to make a “Life Compass.”

What is a Life Compass?

It is a navigational instrument that will enable you to coordinate your everyday life with a balance among work, family, finances, wellbeing, fun and community association. To use this compass, start with rest, growth and reflection.

Why do you need this compass?

Well, envision that you have been given an extraordinary get-away in an unfamiliar locale. Would you investigate it without a compass?

Obviously not.

However, you might stroll through your life, without a compass or even without knowing the direction. That makes it simple to get lost when you go after life’s opportunities.

To find your ability to “know east from the west” and create your “LifeCompass,” ask yourself: What do I genuinely look for? How would I define achievement? What am I extremely enthusiastic about?

Go past your comfort zone. Your capacity to take control of your life relies on how genuinely you answer these questions and how ready you are to accept accountability. Look for balance and concentrate on six major territories: career, mind/body, money, relationships, joy and community inclusion.

Rundown your objectives for the following five, ten and 25 years. Create a list of things you had always wanted, ventures, errands and even feared tasks. Make sure you think clearly, by holding less in your mind. Utilize your list to design your daily agenda and to track your 10-year objectives.

Assess it toward the start and end of every day. Begin now, find the motivation and do not wait for a moment of inspiration.

Truth be told there will never be enough time.

However, you will achieve many things if you start moving in the right direction.

At this moment, the direction you should move in is towards the key points of “Get a Life,” summarized below.

Key Lessons from “Get a Life”

1.      Career and Mind/Body Compass Points
2.      Finance and Relationships Compass Points
3.      Fun and Contribution Compass Points

Career and Mind/Body Compass Points

The career compass point regularly eclipses other areas, and you need to be clear where you stand and what you want to accomplish to change it. Concentrate on what you truly need versus what you think you ought to achieve. Better yet, erase cash from your list of things to get, since a resolute accentuation on money frequently prompts frustration. To define your career point, first do nothing for at least a few hours: no media, no email, no gatherings, no books.

Now, we know this information deprivation might be hard for you, but at the end of this process you will end up gaining useful insight.

Next, select a profession that you are interested in. Come up with a concrete objective and act to achieve it.

When it comes to the mind/body compass point, you have to remember that your brain and body are all you have. Your wage, work, and family all rely on the wellbeing of your body and mind. Everything depends on your vitality and health, including the inward tools you have for taking care of issues. Health relies on getting your “MEDS,” or “meditation, exercise, diet, and sleep.”

Finance and Relationships Compass Points

Create a mental fence with your vocation objectives on one side and your financial goals on the other side. This division is essential because an accentuation on cash will occupy or even destroy your efforts to accomplish professional specialization and personal fulfillment. Your career is more than an income stream and, in the long haul, cash is a questionable motivator. So, try not to mistake standard of living with quality of life.

Each relationship depends on “five A’s,” or, to be more specific on  “attention, awareness of differences, appreciation, affection, and action.” To live a better life examine how you presently allocate those assets, and if you can do it better.

Fun and Contribution Compass Points

Do not disregard the fun compass point, even when you face increased obligations. Joy and pleasure are vital. Happiness has positive effects on almost every aspect of your life. Obviously, you do not need to be happy all the time. In fact, that is not human. The truth is that everybody faces difficult clients, money problems or stolen time. However, instead of rejecting your bad feelings, examine them, and utilize them as maps that will show you what is wrong and what can be made better.

The last, community compass point, unlike the other compass points, is focused outward, on the big picture: community, nation, and the world. You live surrounded by layers of micro and macro frameworks that require substantial dosages of emotional intelligence. Your EQ represents your capacity to realize the long haul effect of your present choices. With refined EQ aptitudes, you can figure out how to defer gratification to serve your family or community.

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“Get a Life” Quotes

People wish for financial independence to get the freedom to ’escape,’ but if what you are doing is what you truly love, do you need to escape? Click To Tweet Do what you love and love what you do. Ensure that what you do is an essential part of your being. Click To Tweet Allow yourself to take some time out each day to stop the internal noise, to recharge. Click To Tweet Circumstances will never be ideal. Click To Tweet Never consider it too trivial to have fun. Click To Tweet

Our Critical Review

“Get a Life” is useful and practical, but just like many books of the self-help genre, it gets too repetitive at times. However, maybe that is the point of such books – to make you pay attention, and repeat the lessons until they become engraved in your mind.

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Where the Money Is Summary

How to Spot Key Trends to Make Investment Profits

You have likely come across the term “the butterfly effect.” It is a hypothesis that argues that the small swing of a butterfly’s wings in the Amazon could change the breeze direction and flow in South America, could influence the clouds in the Pacific Ocean and could make it snow in Russia. Namely, seemingly unimportant occasions in a single place can have a significant impact elsewhere. The situation ruling with present securities exchanges have been a product of global patterns that can be explained by the butterfly effect. This shows the current condition of the modern world, characterized by two fundamental statements. First, the whole world is linked. Second, something that at first glance may look unimportant can start a chain response that produces unexpected outcomes.

The butterfly effect represents global patterns that influence each part of human’s life. Concerning business sectors, the butterfly effect implies that every market, wherever it is, is in some way associated. Globalization has turned past unconnected events into everybody’s issues. What does this mean for the business environment? Well, since business sectors are linked, even a minor occasion, for example, the wavering of Thailand’s currency, sets off a response in the form of a chain of events that spreads all over the globe. This butterfly effect will be responsible for the following five noteworthy worldwide patterns in the coming decade:

  • Economies and markets will globalize.
  • A technology revolution will happen.
  • Governments will scale down and privatize many government capacities.
  • Demographics will influence the market.
  • Corporate rebuilding, mergers, and acquisitions will go global.

These significant patterns are the foundation of the most prominent bull market that emerged so far, which is currently at its beginning. These worldwide trends will transform the markets and will help distinguish which industries and markets are most likely to benefit from the transitioning social, political and monetary circumstances. Another key point to mention is the impact demographic trends have in the global markets and the business sector. In each nation and geographical area, demographic trends directly influence social and financial trends. Such is the case because demographics affect what number of individuals need to buy specific items, and which products are sought after.

The current global marketplace divides the world into four districts: The U.S., Euroland, Japan and developing markets. The days when the worldwide economy fixated altogether on the United States, the world’s biggest market, and in Japan, the second biggest, are long gone. In the midst of the worldwide fall of socialism and the ascent of capitalism and privatizations, new markets have developed. The technology revolution, which gives the tools to link all of the global economies and markets in a free flow of timely data, has significantly modified the way worldwide markets function. The modern economy consists of local economies and markets which are all linked efficiently to each other.

Who is this book for

“Where the Money Is” is a highly instructive, never dry or dull, and profoundly coherent manual for understanding the transformation of the worldwide economy. It concentrates on the components that consolidate to build both major and minor economic trends. The author states that if you gain a comprehension of these trends, you can settle on wise investment decisions now and later in the future. Although, the author has incorporated a glossary of terms at the end of the book, unlike many books studying the topic of investment and finance, while reading, you do not drown in an ocean of insider, “expert” language.

The author succeeded in writing a readable book that demonstrates how worldwide trends and patterns link to each other. Additionally, he gives a further simple explanation on how it affects you both personally and professionally. Since local economies are profoundly affected by globalization, we recommend this book to everyone, regardless of your area of interest.

Author’s expertise and short biography

Dr. Robert J. Froehlich is a chief investment strategist of Scudder Investments and part of the company’s Global Investment Policy Committee. He is a regular guest on CNN, CNBC, and Fox News. He publishes his opinions and analyses with, The New York Times, The Wall Street Journal and Barron’s.

Key Lessons from “Where the Money is”

1.      The Technology Revolution
2.      Government Downsizing
3.      Long-Term Trends in a Short-Term World

The Technology Revolution

The technology boom will have an even more significant effect on our lives compared to the industrial revolution. The focal point of this technology revolution is the Internet, the most exceptional creation in our lifetime since its uses are numerous. Unlike other assets, the Internet is not limited by shortage – it is an intellectual asset, not a physical one, so you can replicate it and download it infinitely. As far as its market impact is concerned, the technology revolution is established on society’s expanded capital expense for better PC equipment and programming, which prompts higher productivity and efficiency.

Government Downsizing  

The overall global tendency toward cutting back on and privatization of government capacities will have worldwide resonations. Privatization and government downsizing will profoundly influence markets all over the world. Privatization implies rivalry, and that consequently means motivation for better administrative services and increased responsibility, productivity, and efficiency.

Long-Term Trends in a Short-Term World

With such fast changes in the environment, technology, and trends, everybody is living in a transient world. The best investments will be those made in long-haul trends. Specific standards can enable you to invest wisely in long-haul patterns while living in a transitory world. As you comprehend the worldwide trends and improvements that will drive the world’s business sectors, you will understand that time is the most critical element for the success of these long-term patterns. Long haul speculators can get back what they lose after some time since they concentrate on long-haul trends and advancements. On the other hand, short-term investors who primarily react to dread or eagerness, disregarding long haul patterns, rarely find opportunities to get back the cash they have lost.

If you feel like this is the book for you, feel free to contact us for further information. You can download our mobile app and share your experiences with us. Between you and your book, there is a one-click delay – check it on Amazon;

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Inside the Investor’s Brain Summary

The Power of Mind Over Money

The world’s history is full of names of reasonable, knowledgeable and intelligent individuals who had money related problems. You must have asked yourself numerous times, if transcending minds can make colossal financial mistakes, what are the chances that you avoid such slipups? Neuroscience gives useful lessons when it comes to this subject. It can provide you with insight on how you decide, mainly when unpleasant decisions take place, such as those who include monetary gains and losses. It argues that psychological inclinations lead most of the investors adrift. To improve the situation, you have three choices. First, gather better data, utilizing propelled research techniques. Second, enhance the way you process the data, so you achieve accurate conclusions. Third, address the behavioral predispositions that lead you to misuse data.

Many components can affect your investment choices, but, in reality, when it comes to investments, two frameworks exist in the investor’s mind. The first one is looking for rewards, while the other one avoids risks and misfortunes. Your desires, life, and educational experience influence both of them. You measure your achievements comparing it to your expectations, and the gap that stretches between them dictates your emotional responses. In fact, stress is born there – in that hole and leads to both physical and mental responses. Furthermore, you assess your execution taking the execution of those around you into consideration, so you feel upbeat or miserable, based on how well you compare to others.

Humans reshape events in their worldviews until the point when the image in their minds concurs with their beliefs about reality. Hopeful and optimistic assumptions can lead to a “placebo effect” that prompts positive execution, while negative convictions deliver a “nocebo effect,” a prophecy of disappointment and frustration. Making sense of why the market moves in a specific course is difficult because practically everybody included participates in “motivated reasoning.” They are too invested in the outcomes, which creates bias. “Projection bias” happens when you anticipate that your current emotional state will continue forever. Overcoming such projections is genuinely challenging.

Since feelings shade and alter your perspective of the world, you may not have the capacity to tell when and how they are influencing you. Disgust influences people by making them want to get rid of a specific object, regardless of the possibility to sell at a loss. Sadness awakes the wish to change and improves, driving people to purchase. Anger creates the illusion of readiness to act. Fear produces feelings of loss of control, which debilitates decision making and empowers information gathering. Fear may provide a useful reaction in a hazardous circumstance because it can push you to look for answers for your issues. To utilize fear adequately, figure out how to remain calm. Frenzy can be an awful feeling. It can make you act somehow, anyhow, without thinking, so that you can immediately get away from your circumstances.

In spite of the fact that feelings mutilate your reasoning, you should not hope for an entirely rational financial planning, since it is inconceivable. Instead, be reasonable in the research and planning stages of your preparation for decision making. At the point when the ideal opportunity for settling on the final decision arrives, allow your instincts to help you. Investing, when you do it in this way, utilizes the two sides of the brain, both the rational and the emotional part.

Who is this book for

“Inside the Investor’s Brain” is a helpful, compelling and entertaining book. Author Richard L. Peterson examines an expansive scope of emotional and intellectual factors that play a role in making investment decisions. Some are more common than others, and most of the readers, including novices, will recognize them. There are some factors, on the other hand, that are subtle to the point that they surprise even knowledgeable and experienced investors. The author incorporates and condenses neuropsychology and behavioral analyses and clarifies them using clear writing. Furthermore, he explains them more in-depth by delineating them with illustrations taken from investors’ lives, their successes, and disasters. We recommend this book to those who are interested in behavioral economics or want to get better at making investment decisions.

Author’s expertise and short biography

Richard L. Peterson is the CEO of the MarketPsych group of companies and is called “Wall Street’s Top Psychiatrist” (Associated Press). He has been published with his financial psychology research in leading academic journals, textbooks, and profiled in NPR, CNBC, the Wall Street Journal, the Financial Times, and the BBC. Richard has earned cum laude degrees in arts, medicine (MD) and electrical engineering, from the University of Texas. He has performed post-graduate neuroeconomics research at Stanford University and is Board-certified in psychiatry.

Key Lessons from “Inside the Investor’s Brain”

1.      Characteristics that Define Good Investors
2.      Cognitive Issues and Investing
3.      Managing Influences on Your Investing

Characteristics that Define Good Investors

“Extroversion versus introversion”: Extroverts are active and outgoing, and like sharing experiences and time with others, while introverts lean toward quiet and isolation. Extroverts have exit plans for a scope of possible market situations, and as statistics show, generally, have higher returns than introverts.

“Neuroticism versus emotional stability”: Neurotics feel tension, depression or outrage and are inclined to frequent mood swings. They are not good investors since they tend to stress too much. However, even though they fear (and expect) negative results, they are passive worriers that don’t create exit strategies.

“Conscientiousness versus impulsiveness”: If you are scrupulous, you will probably have a restrained approach to your investments and cutting losses rapidly.

“Openness to new experience versus traditionalism”: Openness to new thoughts benefits investors in a similar way as extroversion does. Remaining flexible and responsive to new ideas is crucial for succeeding in the market.

Cognitive Issues and Investing

Various difficulties and predispositions shape your venture choices. All investments carry a potion of risk, and investors must pick the amount of risk they can endure. The vast majority of people are not good at judging probability and most of the time they overestimate the likelihood of both unusual and familiar situations. Such is the case because intense feelings can mutilate objective reasoning.

Managing Influences on Your Investing

To benefit from the bits of knowledge on neuropsychology, do a self-assessment. Identify your characteristics, find your investment patterns, and get aware of your qualities and shortcomings. Then, work on improving your weaknesses.

If you feel like this is the book for you, feel free to contact us for further information. You can download our mobile app and share your experiences with us. Between you and your book, there is a one-click delay – check it on Amazon;

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Of Permanent Value Summary

The bottom line is that Warren Buffett is the most prominent middle-class multi-billionaire. After years of uncertainty, Warren Buffett finally reveals his “Buy low, don’t sell” secret.

Many factors indicate, including Warren Buffett’s testimony that his encounter with “finance” started soon after the 1929 – Economic Crisis. He was stunned by the stock market crash” in those days and embarked on a journey to figure out, what happened precisely and what caused the economic collapse. It’s equally important to mention that, Buffett bought his first stock when he was a just a young boy – 11 years old. The pull for “playing” on the stock market awoke an intention, which later transformed into a “full-time job,” to learn as much as he can from the most experienced investors in years to come.

Let’s take a step back; the irony is that Warren’s father was a stock salesman in those days. Despite the early signs of failure, and the implication to remain careful with the variability of stocks, young Warren’s future was already forged into decision-maker, even before he made his impact on the world’s economy. One thing led to another, and Buffet became one of the wealthiest persons on the planet. As an illustration of his passion towards finance, the author presents the “metal moneychanger” – Warren’s favorite toy.  

The little boy was all about making money and analyzing the risk-benefit ratio of every investment. In spite of the economically weakened America, he found the strength to undergo a series of money-making processes, which will ultimately lead to success. Unlike brokers, financiers, and other financial experts, he was not motivated by the idea of becoming rich. You would probably disagree right away, but take a moment to consider all options. Due to the upcoming crisis in the 1970s, Buffet yet again stood firm with the theories he realized earlier. Such perspective enabled him, deal with all the mess, economic fluctuations, wars, reforms, law enforcement, etc.

Now we go a couple of decades backward, in the past, discussing Warren’s childhood and his Coca-Cola endeavor. Even personalities like Warren itself, are entitled to be a little generous, especially as kids. The first ever business journey that he embarked upon, was doing a favor for a fellow, who’ll later become one of the Coca-Cola’s top shareholders.

Although, this looks like an accurate biography of the world’s greatest investor, Andrew Kilpatrick kind of disagrees with this notion. According to him, the ability to surpass all the challenges is more like a life-advice than a biography. The book’s genre is not so important; the eye-opening element consisting of tips conveyed in this classic about the world’s wealthiest, investor Warren Buffett, surely is significant – on the other hand. In other words, the message shared takes the driving seat! In the same manner, like Warren, Kilpatrick contradicts the basic chronology order, presented in most portraits, and showcases a new 890 pages, filled with a mind-blowing, easy-to-read content.

The content doesn’t follow any particular order because, in that way, there are no disruptions in adding a dose of magic in this detailed and satisfying life journey. Filled with plenty of insights, the readers will be utmostly thrilled to take a peek into Buffett’s life. GetNugget doesn’t want to deprive anyone of the opportunity to read this classic, even though it’s best equipped for people involved in finances.

Who is this book for

Who stops you from getting there? – As he was fascinated by money, you can make your presence felt with the tools you have at your disposal. One of them is time, the other one creativity. These free instruments are indeed a profit-making machine, it all depends on how you use them. They are particularly useful when combined with financial creativity and open mindset.

This book is not an all-encompassing adventure, it strictly points out what we must do, in the money-pursuit process. It underlines both financial motivation, and vision as the greatest assets in reaching the top. Your highest priority describes your personally and professionally. In either case, time allocated to investment is not time lost, because it alludes to all aspects of human development. Generally speaking, this classic is a perfect fit for stockbrokers, financiers, investors, inventors, innovators, students, and all other people with a decision-making capacity.

Author’s expertise and short biography

In 1994 Andrew Kilpatrick published the first edition of this book by himself. Four years later, in 1998, Andrew produced a new McGraw-Hill. Other than being an author, he was also a U.S. Naval officer while serving in the Peace Corps.

Key Lessons from “Of Permanent Value”

1.      Battling down old-fashioned concepts
2.      The birth of a new little genius
3.      Billionaire lifestyle/ or not

Battling down old-fashioned concepts

As a consequence of his knowledge-thirsty approach, Warren Buffett’s reputation became a synonym for wealth. Perhaps, his biggest strength was, that he disregarded and neglected all those conventional methods and belief systems.

The birth of a new little genius

Only six years old, Warren came up with an idea, a funny one by today’s standards, but effective in the digital time as well. He purchased a six-pack of Coke each day, and by using the power of retail, he used to sell them for five cents a bottle, leading to 20% returns with minimum risk. At the end of the day, instead of spending money, little Warren was earning money. The 20% returns, became his signature tool, during further investments.

Billionaire lifestyle/ or not

Even though almost every person in the world is aware of Warren Buffett’ financial situation, the one thing nobody knows is his, casual appearance. He doesn’t own any lavish offices or expensive suits; he’s one of those who put more emphasis on playing with money, rather than using the money for personal pleasures.

If you feel like this is the book for you, feel free to contact us for further information. You can download our mobile app and share your experiences with us. Between you and your book, there is a one-click delay – check it on Amazon;

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Snap Judgment Summary

When to Trust Your Instincts, When to Ignore Them, and How to Avoid Making Big Mistakes with Your Money

How many times have you done something because “you had a feeling” about it? How many times have you heard other people explain their behavior in such ways? Intuition is an indivisible part of each human on this planet. Prehistoric humans, for example, completely trusted their instincts and made quick decisions in possibly dangerous situations, when their lives were at stake. Humans also developed the capability to read social hints, analyze words, and differentiate between enemies and friends in a second. They can decipher language cues, vocal signals, and can discern each other’s moods. Gut instinct is quite valuable when it comes to social situations.  However, it is not as useful when it comes to more complex cases.

Intuition may indeed work in simple scenarios. However, it will not be of any help when you are selecting the best retirement plan when you are assessing investments or deciding to enter a new market. In fact, trusting instincts when you need to make a decision works against you and your best interests. People who are overly self-confident frequently make wrong choices. Their confidence blinds them and is not allowing them to see the whole picture of a particular situation. Also, they sometimes utilize wrong rules of thumb to simplify and understand complicated cases.

The way that people despise losses more than they like gains influences their decisions as well. They make an effort to stay away from mishaps, even to the degree of indulging in unsafe conduct. Behavioral economics, which, pretty self-explanatory, includes both psychology and finance, finds that snappy judgments are useless for picking stocks. Stock buyers need to gain a deeper understanding of what inspires different investors and how they are probably going to act. Wise investments are not significant on an individual premise only. They additionally secure the economy from the development of market bubbles that can harm the global and local markets. Feelings also confuse people and push them towards reckless decisions. People will more likely burn through cash when they feel troubled than when they are at rest.

Now that we have explained the way intuition may stop you from making wise decisions, it is time for some good news: you can control your urges. That is right; people can take control of their instinctive inclinations and intentionally move from System 1 to System 2 reasoning. This change pays well when you are making investment decisions, or you are deciding on important life issues. Knowing when to run with your intuition and when to be more rational and analytical is vital for a decent life full of fruitful decisions.

Who is this book for

All people, no matter their professional position, place a significant amount of focus on their intuition whenever the time comes to make decisions. The results from such conduct are usually disastrous. Behavioral economist and author David E. Adler studies the reasons behind this human behavior: making important decisions based on gut feelings, urges, habits or snap judgments instead of being more rational and using analytical reasoning. In this book, Adler presents many engaging cases that unravel the dangers of trusting instincts when it comes to complex decision making. Having in mind that we all make decisions each day of our lives, we believe that everyone should read this book. Accordingly, it may prove especially useful to investors, managers and other executive decision-makers that need to change their thinking.

Author’s expertise and short biography

David E. Adler is a writer for Financial Planning and has published with Barron’s, the New Republic, and Psychology Today. He devotes his time to financial journalism, economics research, and television. In addition to Snap Judgement, he is also the co-editor of the anthology Understanding American Economic Decline.

Key Lessons from “Snap Judgement”

1.      Investment Decision Making
2.      Additional Judgments and Decisions  
3.      The Limits of Intuition

Investment Decision Making

Bob Arnott, an expert money manager, employs a nonintuitive technique for deciding on investments. Just like other financial advisers, he utilizes models, yet if they coordinate with his instinct, he becomes suspicious. At that point, he goes the other way. He says that he uses intuition but in a twisted way. He clarifies that following others is common. However, it does not function admirably in the world of investments, where following patterns prompt “atrocious” timing. It additionally pushes individuals into the most widely recognized “impulse driven” investment blunder: purchasing high and selling low.

Additional Judgments and Decisions

You might think that a U.S. Secret Service agent’s gut instincts about who is or isn’t a threat would be a great tool when protecting presidents. You probably think that a U.S. Secret Service agent relies on his gut instinct to determine who is and who is not a threat to the president he protects.however, former agent Joseph A. LaSorsa, indicates that it is seldom the case. He furthermore argues that examining practical information is the best tool for specialists when figuring out who may pose a danger. In this sense, bodyguard techniques should serve you as a parallel on how you should make financial decisions.

The Limits of Intuition

Hardly anyone anticipated the 2008-2009 financial crash. Most experts believed that the financial system was resilient and shockproof. However, they were off-base. Why? Because of psychological reasons. Namely, human instinct is capable of handling simple inquiries, such as, “Is it rain?” or “Does he like me?”. However, the destruction of the financial system is too complicated to envision or predict. It drifts outside of standard thinking. When it comes to substantial economic issues that influence numerous markets (or, on an individual scale, your future security), instead of trusting your gut instincts, go with detailed analysis.

If you feel like this is the book for you, feel free to contact us for further information. You can download our mobile app and share your experiences with us. Between you and your book, there is a one-click delay – check it on Amazon;

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