By guest contributor Gerald Tay
Here are four of my all-time favourite Conventional Wisdom Myths for the ordinary investor. I define an ordinary investor as anyone who’s holding a full-time back-breaking job, dependent on a job for income, maybe has a family to support, has some money to invest, dreams of becoming wealthy one day, and wants badly to get out of the rat race.
There is tons of information out there on how to invest in property: the internet, books, seminars, newspapers, financial “gurus”, property “experts” and even your next-door neighbour. Most of this “information” contains a grain of truth and a lot of misinformation.
How do the “gurus” fool so many people for so long? How do they get people to believe in what they’re selling even after it has been proven time and time again to be a bad idea? I just realized one day how dumb …