Why do so many people loose money?
One of the main reasons is everyone is looking for the quick fix, the one answer to all their money problems. Let’s get something sorted out right now, there is no such thing. If something looks too good to be true – it probably is!
People get this confused with “having a go” or “being positive”. “Having a go” doesn’t mean blindly throwing money into the next greatest thing without understanding what the business is. Investing with someone just because your neighbours brothers best friend invested with this guy who got a 100% return in 6 months, is not being positive, it is positively mad.
People make money by sticking to the industry they know but expanding in a business like manner over time. It is about working harder and smarter at what you know. Then applying leverage – but that’s a discussion for another day.
The best book on this subject is a little book called “The Richest Man in Babylon”, very easy book to read, just saying….