The 5 Laws of GOLD
1/ Gold cometh gladly and in increasing quantity to any man who will put by not less than one tenth of his earnings to create an estate for his future and that of his family
2/ Gold laboureth diligently and contentedly for the wise owner who finds for it profitable employment, multiplying even as the flocks in the field.
3/ Gold clingeth to the protection of the cautious owner who invests it under the advice of men wise in it’s handling.
4/ Gold slippeth away from the man who invests it in business or purposes with which he is not familiar or which are not approved by those familiar in it’s keep.
5/ Gold flees the man who would force it to impossible earnings or who followeth the alluring advice of tricksters and schemers or who trusts it to his own inexperience and romantic desires in investment.
Familiar?? [
]10 commandments
1/ thou shalt not pay ridiculously high prices for stocks under any circumstances because overvalued companies always fall back to earth.
2/ Thou shalt always pay close attention to charts when making decisions- a picture can be worth more than a thousand words
3/ Thou shalt not get caught up in the latest stock market fads- every fad ends and they ALL end up the same way-badly
4/ Thou shalt not follow the crowd- when it comes to investment the crowd is inevitably, always wrong
5/ Thou shall be cautious when investing borrowed money, borrowings must be repaid in Full whereas investments can fluctuate in value.
“gotta go next 5 2MW”
Redwing
“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
Hi redwing,
Isn’t those 5 rules from “the richest man in babylon”?
I’m sure they are, that was the first investing book i ever read, i was 18 at the time.
Fudge111[
]Hi Guys
4/ Thou shalt not follow the crowd- when it comes to investment the crowd is inevitably, always wrongDoes this apply to property?
Gee life would get boring.
Regards
YEP !
Still enjoy the simplicity and interpretation of “The Richest man in Babylon”
Next 5 of 10 commandements
6/ Thou shalt carefully consider a company’s downside risk before investing. Preservation of capital is just as important astrying to make a profit.
7/ Thou shalt always be patient when investing. Waiting for the right opportunity to invest and excersizing patience with investments is critical in the stockmarket.
8/ Thou shalt always be disciplined and cut losses when necessary. Hoping the market will bounce back often leads to ruin.
9/ Thou shalt always buy straw hats in winter- what the stock market shuns today is often embraced tomorrow.
10/ Thou shalt be honest with thyself. Admitting investment mistakes is imperative in financial markets.
“the first 5 laws of gold from -the richest man in babylon, the 10n commandments sent to me by a friend who trades a lot on the ASX, both make me think a bit in regards to investing”
REDWING
“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
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