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Page 20 · column 3 of 5 · from the scan, no model involved
Money
From Page 3
But a prudent person can ferret his way through the ups and downs and come out a winner. Which leads to:
2. Most people lose money trying to avoid losses: This is psychological, pure and simple. People think that investing is hard, when it really isn’t. There are plenty of mutual funds out there with long winning records. There are plenty of good newsletters that can point to winning trades. Stepping up and pulling the trigger is the hard part, especially if you’re new at it.
Most are convinced that if they buy a stock, it will surely go down that very day. So they do nothing. And another year goes by and they’re that much closer to retirement and still don’t have the capital to live on when the paychecks stop. They think they’re going to hit the lottery or something. Which leads to:
1. The miracle of the universe: That’s what Albert Einstein called the power of compound interest. Compound interest is the money that is made by the money that you have already invested, just like in a bank.
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