The Psychology of Getting Poor Quick
Today via the Old School Value Blog I found a piece on pundits who frame themselves as contrarians yet are nothing more than salesmen.
“Many of you who hesitated and missed out during the first dot-com stock-boom of the late 1990’s on Yahoo!, Amazon, and AOL – now have a second chance for fortune with CrowdGather.”
If you or your financially less inclined family, relatives or friends come across such reports, point them to the fact that these reports have no factual information. The one I have in front of me is filled with “I project”, “I’m tell you to buy” and “you will miss out if you wait”.
Here is a list of recurring themes in short term oriented investment marketing.
1. Manipulation of Emotions
2. The next one is the big one
3. Lack of basic information only speculative opinions.
In the words of Jae Jun, “It’s a perverse human nature to want things immediately. We don’t want to wait for anything. It’s been like that since we were born. This is especially more true when it comes to money and it’s a shame that too many eager people fall victim to such rubbish in the hopes of making a million dollars overnight. The sad thing is, you’ll probably die first before it happens.”