Think independent, try to get your information from as many sources as possible. Question everything and don’t follow the kraut.
That Quote is from the legendary investor Jimmy Rogers.
Why is that so true?
Everybody knows something, that is valuable for us, and everybody has gathered a lot of wrong information inside of them self.
If we get confronted with different information that is looking even wrong for us, maybe this information we need to change our life or opinion.
To be skeptical is not to be wrong.
For instance, I want to know something about the today state of our money bubble (money printing like crazy)… For sure I have to do research on that … the media will not help because it is just a propaganda machine… I look up books with different views from me because only then I can learn something! I got the last book from this famous, great(?) expert Harry S. Dent. In his last book, he describes the previous stock market crashes, demography, inflation… He follow-up and proof (?) that we will have the same stock market crash 2017 like we had 1933… with deflation, Gold down…? In the previous stock market crash, there was no money printing like crazy. How can he compare two different sceneries as the same??? Even more, 1933 the USA confiscated the Gold (Gold went up 70%) from the Americans, inflated the Dollar (Dollar lost 70%) and put up high taxes (this means inflation and Gold up!). Never less, there are such great statistics inside, that it is good to read that book … The next book for instance: “The money bubble” which describe the missing elements of the previous book. At least we should read both books if we don’t like to lose our savings in the common crises.
If we question our life or a part of our life, we go through the agony and at the end we will change our life for a better. Without pain no gain!
The next crucial point is: Don’t think in terms that you wish. So many people had lost everything on the stock market because of that thinking! We should always look what is and not what we want. Don’t get court up in proving your theory like Harry S. Dent, because we get blind through that. Have an open mind also for other opinions and see how we can utilize the different opinions!!!
Know yourself, understand your weakness. If I am impatience for instance at that moment when I have to make critical things, I don’t do anything, until I have calmed down.
Learn from the history, that what was right 10 years ago, is wrong today. This means we always have to adapt to this situation today, the previous solution might be wrong.