The Biggest Lesson I Learnt From The Jim Rogers Workshop
THIS ARTICLE WAS WRITTEN BY TAY JUN HAO AND FIRST PUBLISHED ON THE ASIA REPORT
Jim Rogers Invest Fair 2014
I will be doing a longer post on the specifics on the Jim Rogers workshop I attended on Saturday… but today I like to highlight one thing he talked about repeatedly.
And that is that there are no shortcuts to investing.
That’s it.
There are no magic pills, no hidden secret formulas, no get rich quick investments.
It’s all about hardwork and knowing what you’re doing.
He repeatedly emphasized that there would be no “hot-tips” during his talk… just because they were completely useless.
Even if he told the audience what he was investing in, they still wouldn’t be able to profit from it.
If it went up, they wouldn’t know whether to sell or hold.
If it went down, they wouldn’t know whether to add more or sell.
This comes down to a basic fundamental principle that no investor should invest in something they know nothing about.
Now, while this may sound like common sense, it’s been repeatedly emphasized by all successful investors in different terms such as one’s “circle of competence”.
The key to making money is to not lose it in the first place… and the biggest way investors lose money is to invest in things that they really know nothing about.
Gold scams. Brazilian property. Penny Stocks.
You name it, someone’s probably put money in it.
There’s the saying that hope springs eternal.
Everyone’s looking for the magic button to riches… but it just doesn’t exist.
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