Unlike other folks in this industry, I think that It is more valuable to share investment mistakes than investment triumphs.
Carl Jacobi, a German mathematician often used the phrase “Man umss imer umkehren”. This is German for “Invert, always invert.”
We can, of course, ask ourselves what are the steps to take to make great investment decisions, but new and refreshing insights can be gleaned if we ask ourselves what can we do minimise our investment mistakes.
The philosophy in the Early Retirement Masterclass (ERM) program is that a good investment course should catalogue the worst investment mistakes ever made because to improve as an investor, you need to make better decisions.
In order to make better decisions, you need to learn how to avoid making bad decisions.
Finally, to learn to avoid making bad decisions, you have to actually make bad decisions and lose some pocket change from making
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