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5 Fundamental Truths
BY MARK DOUGLASS
1. Anything can happen.
2. You don't need to know what is going to happen next in order to make money.
3. There is a random distribution between winners and losers for any given set of variables that define an edge.
4. An edge is nothing more than an indication of a higher probability of one thing happening over another.
5. Every moment in the market in unique.
Wealth and Money Myths
by Frank J. Sherosky
Investor psychology is key to success. Who can function efficiently when his or her mind is haunted by financial problems or misinformation? Nobody! A business who employs such people can't do it; neither can a family; and neither can a global world order.
Solving global financial problems without knowledge, understanding and wisdom is impossible. The future will be no different in that the concept of economics will not be considered an island, apart from human dynamics; it will be closely linked to religion as well as government. And in line with that future order it will be equally imperative to understand the very definition of wealth itself.
Defining True Wealth
When I was young, I met a very wealthy man who was surprisingly very humble. In conversation, he told me that he had finally developed the ability to create his own wealth. This, he considered, a blessing of power.
This, I corroborated by recalling an ancient scripture. In the book of Psalms, it is written, “It is the Almighty that gives you the power to get wealth”. In that, this wealthy man agreed wholeheartedly, and added further that understanding the relation between wealth and money will be key to future economic and social survival. Unfortunately, the system today does not teach any difference out of ignorance.
Understanding True Wealth
Setting your house in order will be a major theme in your own future. Economic and social survival, individually and nationally, will require all to fully understand the meaning of true wealth. Although wealth and money can be quite diverse, in the world of finance, there is more to life than mere cash flow. Like that wealthy man, deep down inside we all know that, especially when a death occurs or a drastic sickness takes place. At times like that, a new mindset often arises.Whenever the word "wealth" is mentioned today, unfortunately the term "money" is naturally assumed. Money by its truest definition, however, is merely a form of storage for the physical aspects of wealth. In essence, it is a medium of exchange for physical wealth; it is not the totality of wealth itself.
Total wealth, in reality, has many aspects. Money is only one part of it. There coexists a wealth of other factors including the following: ideas; opportunities; knowledge. This is total wealth. Think about it!
True wealth is the happiness and security derived from having all of your physical, mental, emotional and spiritual needs and wants provided because of the power and ability to meet and share them at will. This lack of understanding about true wealth explains why so many presume that it only takes money to solve problems. This explains why corporations who chronically throw money at business problems often do so at their own peril.
Yes, money may be a need, but it is not the heart of every obstacle. The heart of most problems are usually within the very people within range of the problems. No doubt there are outside influences always exerting pressure. The solution, however, is to manage them with knowledge, with understanding, with commitment and with a right path, using all human-wealth attributes.
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