Unfortunate Truths About Investing

  1. Stock Markets will always go up or down. Get used to it. It’s just what they do.

  2. There are tens of thousands of professional traders. Statistically, a handful of them have been successful by pure chance.

  3. Time-saving tip: Instead of trading penny stocks, just light your money on fire.

  4. Not a single person in the world knows what the market will do in the short run. End of the story.

  5. The analyst who talks about his mistakes is the guy you want to listen to. Avoid the guy who doesn’t — his are much bigger!!

  6. What has changed over the past decade isn’t the volume of news, but the volume of nonsense.

  7. Most of what is taught about investing in university is theoretical nonsense. There are very few rich professors.

  8. The more someone is on TV, the less likely his or her predictions are to come true. (U.C. Berkeley psychologist Phil Tetlock has data on this).Trust no one who is on CNBC more than twice a week.

  9. The majority of market news is not only useless, but also harmful to your financial health.

  10. What markets do day to day is overwhelmingly driven by random chance. Ascribing explanations to short-term moves is like trying to explain lottery numbers.

  11. Most would be better off if they stopped obsessing about the Government, the RBI and the world economy and focused on their own financial mismanagement.

  12. For many, a house is a large liability masquerading as a safe asset.

  13. The most boring companies — toothpaste, food, bolts — can make some of the best long-term investments. The most innovative, some of the worst.

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