Alright, this has nothing to do with programming. It's just plain cool:
You might consider saving it for tonight instead of falling asleep at work!
Monday, July 7, 2008
Wednesday, July 2, 2008
The 5 Rules of Investing (Updated)
Below are are the four things I think about before making any business or investment decision. They've kept me out of a lot of trouble over the years. I hope they help you, too!
Rule 1: Do nothing. Don't ever buy or sell an investment unless you've had a consistent opinion about it for at least 30 days. This is especially important (and difficult) for young investors, because they are easily swayed by excitement and emotion. By inserting time, you'll force yourself to calm down and make a rational decision.
Rule 2: If you can't spot the sucker, it's probably you. Money always involves people, and some people are more informed than others. The more knowledgeable people will always win. Know where you sit. See rule #1.
Rule 3: Never buy investments from salesmen. This includes mutual funds, most new real estate developments, and anything with a glossy brochure. Why? If an organization is willing to invest in sales & marketing, it's because they expect to get an ROI--from you! Instead, find the un-sexy, un-polished opportunities, and be willing to do a little grunt work to get the deal set up.
Rule 4: Mind your own business. It's best to invest in hands-on kinds of things where you can actually have an effect on the outcome. For example, investing in your own web-based business, or flipping a house in a neighborhood you know well, or making improvements to an investment property. Stick with what you're already good at. It's both SIMPER and LOWER RISK. Save your educational experiences for situations that don't involve losing money!
Rule 5: Never, ever let someone else "manage" your money. Investing is already hard enough when you're dealing with someone you can trust 100% (yourself). Do you think someone else is going to care as much as you do? Of course not.
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