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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
Whether we choose the way of ignorance or the way of knowledge, every decision including those not to act are beset with consequences.. Nevertheless, dealing with truth instead of myths is crucial.
1. "Money alone constitutes wealth" - As stated earlier, money is merely the medium of exchange (currency); it's not a true measure of value. There sre other facets like health, security, good marriage, etc.
2. "It takes money to make money" - You and your efforts through work earns the money. Your knowledge and character determines its preservation, growth, and depletion. The Creator gives us the power to get wealth. (Eccl 5:18)
Understanding True Wealth
3. "I'll never earn my fortune working for someone else" - Your lifetime allows 45 productive years to earn a fortune (Age 20 to age 65 = 45 years). Just $10K per year for 45 years nets $450K. It's not what you earn, but what you keep that counts as your fortune.
4. "It's too late and difficult to change things now" - Negative attitudes can create self-fulfilled prophecies. Where would you be now if you had acted just 5 years previous? Where you will be in just 5 years depends on what you do now. Like physical conditioning, fiscal conditioning requires effort.
5. "Money is the root of all evil" - The love or lust for money over true riches is the root, NOT money itself (See 1 Tim 6:10)
6. "God loves the poor, but hates the rich" - This is not true. Riches can make it difficult to attain spirituality, but not impossible if humility is prevalent. The Creator also loves the rich as long as they are righteous. Witness Abraham, Isaac, Jacob and Solomon. The Creator does not believe nor lives according to a law of insufficiency. Witness this planet and the universe where abundance is everywhere. His profit targets are in terms of tenfold and hundredfold, far above that of man.
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