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Today at a Glance:
Lesson From the Book: You are responsible for your behavior
Tweet: Ratio Analysis Simplified
Quote from Chris Bailey
Snippets: 4 Snippets from different books
YOU’RE RESPONSIBLE FOR YOUR BEHAVIOR (BUT YOU CAN’T CONTROL THE RESULTS) (Book)
BERNIE Madoff spent most of the past two decades running the largest Ponzi scheme in history, defrauding thousands of investors of billions of dollars. Many of those investors were intelligent, sophisticated people. Some were top managers at major Wall Street firms. What happened? Same old, same old. He promised the moon, and we wanted to believe he could deliver it. There were warning signs. Many people on Wall Street had their suspicions of Madoff.
Part of the problem lies with our almost universal tendency to believe what we want to believe. It’s really, really hard to resist a deal that looks too good to be true— especially when other people are buying into it.
The more vulnerable we are, the more tempted we are to grab a great deal,
Most financial advisors are trying to make a living by helping their clients. Sometimes, however, those two goals are in conflict. That’s okay— but only if we understand that the conflict exists.
inherent in almost any situation when you’re paying for advice. Lawyers, accountants, financial advisors, auto mechanics… we all have to cope with situations when our interests may not fully align with the interests of our clients, at least in the short run. Your job is to identify those conflicts, and then keep them in mind as you make your decisions. Think of it this way: when you walk into a Toyota dealership, you don’t expect the guys there to tell you that Hondas are the greatest car around. You hope they’re honest, but you know they’re going to try to sell you a Toyota
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One Tweet
One Quote
"Our Attention has never been so overwhelmed as it is today, and we’ve never been so busy while accomplishing so little''
Interesting Books Snippets/tweets shared during the Week
1. Television Commentators, Financial Writers, Analysts, and market strategists are over-talking each other, all vying for investors' attention. (Book)
2. Markets are no different today. There are still panicky sellers and there are still opportunities who take advantage of market prices - as opposed to letting those market prices dictate their actions (Book)
3. Investing is not like a T20 Match where you attempt to hit every ball out of the park. (Book)
4. Why Time Horizon is the Most Important Factor (Book)
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- Dhaval (Investment Books)
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