Ancient Wisdom For Dealing With The Financial Crisis
Today, I am linking to Presh Talkwalkar’s advice on dealing with the financial crisis. Presh, runs the Mind Your Decisions Blog and has a background in Economics and Mathematics. In this article he draws insights from Churchill, Socrates, and Buffett.
Article Introduction & Excerpts (Via Mind Your Decisions Blog)
“Lately I’ve been fielding a lot of questions about the financial crisis. What should I invest in? When will the market recover? What is causing it? I pause before I answer. The truth is no one can answer these things with much certainty. My own opinion is to buy and hold and think a lot about lowering risk. I suspect most people feel this way deep down, but they are wondering if this time will be different. Perhaps it might, but perhaps not. Financial crises have happened before and they will happen again. Smart people have been analyzing booms and busts and their thoughts can still guide us now. Here are some nuggets of wisdom that can help you:”
Be Cautious of Confident People
Be Skeptical Very Skeptical of Vested Interests
Use Socrates test of three