From the course: Financial Adulting
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Overcoming greed and fear
From the course: Financial Adulting
Overcoming greed and fear
- Let's talk about becoming an intelligent investor. The most important part of investing starts with your attitude. In fact, emotion is actually the biggest reason why people lose money in their investments. So the two most dangerous emotions are greed and fear. Why? Well, greed will make you want to pour money into things that are already going up really fast, like Bitcoin did in 2018, for example. So a stock will go up and you'll think everyone is getting rich on this. I have got to jump in. But I love Mark Twain's quote about this. "Whenever you find yourself on the side of the majority, it's time to pause and reflect." 'Cause the problem with jumping on trends is that if it's already skyrocketing, it's probably close to hitting its peak. So when it crashes, you're going to be caught with your pants down. And the lottery is a great example of this. 99.999% of people lose money playing, but the greedy thought that…
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