By John Sage Melbourne
Neglect the majority opinion. It is most likely wrong.
To make money as a speculator,study the thinking of Rene Descartes. Do decline the truth of anything that you do not understand from your own study to be true. Neglect what anyone else tells you till you have actually thought it through on your own. “Rarely anything that has been pronounced by one learned individual,the contrary has been asserted by another … And it would obtain absolutely nothing to count votes … for in the matter of a difficult concern,it is more most likely that the truth should have been found by few than by numerous.”
We far too easily accept the majority position. This over approval of the majority opinion also spills into the world of finance. The majority might be right,but the odds are they are not.The axioms disagree with a great offer of popular knowledge: a bird in the hand is worth 2 in the bush,develop a diversified portfolio,just wager what you can pay for to lose and so on.The majority of individuals believe the ancient clichés to be unarguable truth. You might also observe that the majority are not abundant.
Minor Axiom XIV: Never follow speculative fads
Frequently the best time to purchase something is when nobody else wants it.{ When is the best time to purchase? When the price is low naturally. And when is the best time to offer? When it is high naturally. Although apparent,this method is incredibly difficult to perform for the majority,because get captured in what the majority are doing.