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We will NOT share your email address with anyone. This week, I want to share my take on the subject of investing versus speculation. You can study investing in business schools around the world, but I have yet to hear of a business school that offers a course on financial speculation. This implies that investing is noble and speculation is shady - that's misguided at best Business schools teach modern finance and efficient market theory to explain the rhyme and reason of daily stock market gyrations.
Would you like to tell us about a lower price? The 7 Secrets of Financial Success: This implies that investing is noble and speculation is shady - that's misguided at best The only reason it doesn't get 5 is that it's a little out of date. What is the secret to financial success? Amazon Restaurants Food delivery from local restaurants.
Yet the high priests of modern finance have been remarkably unsuccessful at explaining why the market does what it does. His mother called him on the phone to berate him. Contrast that with the street-smart approach of speculator George Soros, who has said, "My approach works not by making valid predictions but by allowing me to correct false ones.
With money management, the key is risk control, risk control, risk control. He doesn't say, 'I'm right, they're wrong.
All you do is think about it - at night, at your home. Your eye is off the ball completely. Return to Book Page. The 7 Secrets of Financial Success: Each easy-to-read chapter of The Seven Secrets of Financial Success moves you into action, taking you step-by-step up the "Success Triangle".
The book is loaded with graphics, charts, and case studies that make the information pertinent and easy to understand, and worksheets to help you apply the "Seven Secrets" to your own life. Hardcover , pages.
To see what your friends thought of this book, please sign up. To ask other readers questions about The 7 Secrets of Financial Success , please sign up. Be the first to ask a question about The 7 Secrets of Financial Success. Lists with This Book. This book is not yet featured on Listopia. Apr 06, Charles Patterson rated it really liked it. The only reason it doesn't get 5 is that it's a little out of date. Extremely helpful for the financially ignorant.
What better way to test theory than to observe what really happened to my batchmates? During our reunion, we were all curious as to how well each of us were doing so the information I wanted was there for the taking.
Of course, this cannot be considered a scientific study as it does not strictly comply with statistical sampling requirements. Still, I found it very interesting, and the data I gathered, while generally predictable, may serve to guide those looking for the true path to financial success: Entrepreneurs make more money, but the poorest were also in business.
Not surprisingly, it turned out that successful businessmen do earn more. But I also noticed that those with the lowest income were also into business or were previously in business.
This just goes to show that while the rewards are highest in business, so too are the risks. Still, even for those who did not strike it rich, the majority still earned enough from their business to live a middle-class existence.
Unlike their employed counterparts, most of the middle-class entrepreneurs worked longer hours. Those employed longer in a single company tend to earn more. Despite the current trend to give emphasis on merit, seniority still carries a large weight in promotion decisions. Those who job-hop frequently rarely ended up in a better position. The exception to this is if the succeeding position is better compensated than the last. High grades were a factor in initial employment.