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Understanding the psychology of money!

April 30, 2011

Money can buy health, that is why they say “Invest in your health.” Poor people don’t have access to good medicine. Money can buy love, that is why they say “Invest in your relationships.” Can you imagine what the wedding of William and Kate would be like without money? Can you imagine where the United States would be without endless credit? That is why they say “Invest in your country.”

Then what’s the problem? Why don’t you have enough of the dough to live as well as you would like to live? If you have visited my writings before, you would already know that there is no other source of information on the web that tells it like I do! The Hindus call it the Bhagavad Gita way, or as it really is! Well, let’s begin: Money runs our lives and the best book to learn about money is Mr.  Niall Ferguson’s The Ascent of Money, and the best book to learn how to multiply it in the stock market is Dr. Elior Kinarthy’s The Psychology of Investing During the Chaotic Obama Years.

You don’t have enough of the dough to live well because there are too many sources of information about investing competing for your attention. How do you find a single Money Tree in a forest of duds? Finding the best book or seminar to follow to riches is as difficult as to find the best mate to follow to happiness. So, you change brokers, methods, brokerage houses or spouses until you get tired of this endless  “game.” Most of you investors end up with a Mutual Fund account that don’t pay enough and a spouse that don’t relate enough. You adjust to that and do the best you can until you drop.

Can you do better? Sure you can do better. Don’t take my word for it that Ferguson’s book is the best for knowing about money and my book is the best for accumulating it. Check out the field of behavioral finance. You know that books with detailed instructions what to do, step by step, are superior to books that “explain” things (losers tend to explain things, winners describe them). Understanding is the booby prise here, like the fat lady that has a PhD in overweight but can’t lose the weight and keep it off. Get smart, your goal is not to understand how to make money so you can teach classes to make a living. Your goal is to get rich. Thanks God I make a lot more money by investing it than by selling books about investing it. Remember it, the only thing that counts is results. The best I ever did was buy Apple for $7 per share a day after I analysed Steven Jobs personality as a winning CEO in 1998!

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