“Real wisdom is not the knowledge of everything, but the knowledge of which things in life are necessary, which are less necessary, and which are completely unnecessary to know. Among the most necessary knowledge is the knowledge of how to live well, that is, how to produce the least possible evil and the greatest goodness in one's life. At present, people study useless sciences, but forget to study this, the most important knowledge.” - Jean Jacques Rousseau
Saturday, 16 August 2014
17 Facts About Warren Buffett And His Wealth That Will Blow Your Mind
Warren Buffett has been incredibly successful, and he's extremely wealthy. Warren Buffett's wealth jumped by around $12.7 billion in 2013 alone. But how much is $12.7 billion anyway?
And how good an investor is Warren Buffett really? We've put together some facts that really put him in perspective.
1. 99% of Buffett's wealth was earned after his 50th birthday.
Buffett made $62.7 billion of his $63.3 billion net worth after his 50th birthday.
$60 billion — nearly 95% — is from after his 60th birthday.
Talk about long-term investment strategies.
Source: Fool
Source: Fool
Five Of The Obstacles To Profitable Trading
Just cross them & see great results.
1. YOUR EGO: It wants you to PROVE you are right, it wants you to trade big, the ego wants you to be confident in your ability to trade before you are competent in your trading through the right education and experience.
2. YOUR FEARS: Fear makes you afraid to take your entry when it is triggered and afraid to let a winner run thinking it will turn into a loser. Fear comes from a lack of faith and lack of faith arises from lack of the proper study before you start trading.
3. YOUR GREED: It makes you trade too big and too much. Greed makes you want to risk too it all to get rich quick. Greed usually leads to get broke quick trades. Greed wants to take a short cut to success and you have to travel the full road to get to where you really want to go. You have to go through the work and experiences to get to success.
4. NO TRADING PLAN: If you do not have a map it does not matter where you want to go you will end up somewhere else. Every trade should be planned when the market is closed and then executed reacting to prices when the market is open. With no plan long term results are virtually impossible.
5. YOU: The weakest part of any trading system is the trader that is suppose to follow it. If you do not put in the work to develop a trading plan that fits you, develop and keep discipline, manage your risk, and stick to the plan regardless of how you feel then no trading system will work for you.
“There are plenty of difficult obstacles in your path. Don’t allow yourself to become one of them.” — Ralph Marston
1. YOUR EGO: It wants you to PROVE you are right, it wants you to trade big, the ego wants you to be confident in your ability to trade before you are competent in your trading through the right education and experience.
2. YOUR FEARS: Fear makes you afraid to take your entry when it is triggered and afraid to let a winner run thinking it will turn into a loser. Fear comes from a lack of faith and lack of faith arises from lack of the proper study before you start trading.
3. YOUR GREED: It makes you trade too big and too much. Greed makes you want to risk too it all to get rich quick. Greed usually leads to get broke quick trades. Greed wants to take a short cut to success and you have to travel the full road to get to where you really want to go. You have to go through the work and experiences to get to success.
4. NO TRADING PLAN: If you do not have a map it does not matter where you want to go you will end up somewhere else. Every trade should be planned when the market is closed and then executed reacting to prices when the market is open. With no plan long term results are virtually impossible.
5. YOU: The weakest part of any trading system is the trader that is suppose to follow it. If you do not put in the work to develop a trading plan that fits you, develop and keep discipline, manage your risk, and stick to the plan regardless of how you feel then no trading system will work for you.
Source: http://newtraderu.com/
The World's Most Expensive Homes
The title of the most fantastically expensive property in the world belongs to Mukesh Ambani's Antilia in Mumbai, India. Here is the list of most expensive homes in the world.
Source: http://www.visualistan.com/
Quote for the day
“My theory and practical application have proved to my satisfaction that nothing new ever occurs in the business of speculating or investing in securities or commodities. There are times when one should speculate, and there are times when one should not speculate.” - Jesse Livermore
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