When I read this passage, I felt it couldn’t be much more applicable than it is today.
I’ve written about how I don’t necessarily think it’s “bad for people to buy into hype situations, like GameStop, Dogecoin, and many others.
But, if you’ve read that piece, you know I talk about how you should be willing, and able, to lose all of that money (aka, knowing how much you can lose).
That speaks exactly to what is being said in the passage above from the book I’m reading.
Outside of just those extreme situations, it seems there are a lot of market participants acting only on their growth projections, without giving any consideration to the downside, or potential for loss.
This isn’t just in the stock market. It’s happening in real estate, too, and of course, crypto.
Before making any investment decisions, I challenge you to ask yourself, “how much can I lose?”
All the best,
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