3 investment rules that a rich dad passed on to his son

1. Always fully understand what you are investing in. You need to thoroughly understand how a particular product works. Big problems come from the smallest missing details. So in 1998, the LTCM foundation, which employed 2 Nobel laureates in mathematical methods in economics and half a dozen doctors of sciences, almost led to a global financial crisis. The largest banks had to buy it out for their own money.

2. Love the process of investing. This process cannot be dealt with absentmindedly and without a soul. It should be a favorite hobby that the investor enjoys even in difficult times. So Keynes, the father of the system that saved America during the Great Depression, was a man in love with investing. By the end of his life, he multiplied his fortune 15 times and continued to invest even in times of recession and depression, which ultimately gave him deals to succeed.

3. Be disciplined in the investment process. Discipline is critical to success. If an investor fully understands the processes and assets and loves what he does, then without dedication and discipline, the likelihood of success is minimal. Soros is known for his tough discipline and endurance in transactions. So he ordered traders to hold a position in gold when they wanted to close it for a $ 300 million profit. According to his calculations, gold has not yet finished its growth and, through discipline and dedication to the process, Soros forced himself and the team to hold the position for another year and three months. As a result, the profit was $ 1.2 billion.

@feel_momentum

Everything in the telegram channel https://t.me/joinchat/AAAAAFhM8TxBjXw05UX8hA