Guard thy treasures from loss.
The first part of the book's advice centers on protection of your principal:
The first sound principle of investment is security for thy principal. Is it wise to be intrigued by larger earnings when thy principal may be lost? I say not.
In other words, you want a decent return, but you don't need to push it so much that your principal is greatly at risk. Now any investment has some sort of risk, but what they're talking about is undue risk that could cost you a decent portion of your money. It's just not worth the risk.
The book ends this cure with the following:
This, then, is the fourth cure for a lean purse, and of great importance if it prevent thy purse from being emptied once it has become well filled. Guard thy treasure from loss by investing only where thy principal is safe, where it may be reclaimed if desirable, and where thou will not fail to collect a fair rental. Consult with wise men. Secure the advice of those experienced in the profitable handling of gold. Let their wisdom protect thy treasure from unsafe investments.
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Tuesday, 6 November 2007
The Richest Man in Babylon: Seven Cures for a Lean Purse Part 4
Guard thy treasures from loss.
The first part of the book's advice centers on protection of your principal:
The first sound principle of investment is security for thy principal. Is it wise to be intrigued by larger earnings when thy principal may be lost? I say not.
In other words, you want a decent return, but you don't need to push it so much that your principal is greatly at risk. Now any investment has some sort of risk, but what they're talking about is undue risk that could cost you a decent portion of your money. It's just not worth the risk.
The book ends this cure with the following:
This, then, is the fourth cure for a lean purse, and of great importance if it prevent thy purse from being emptied once it has become well filled. Guard thy treasure from loss by investing only where thy principal is safe, where it may be reclaimed if desirable, and where thou will not fail to collect a fair rental. Consult with wise men. Secure the advice of those experienced in the profitable handling of gold. Let their wisdom protect thy treasure from unsafe investments.
Read more summary of this book
The first part of the book's advice centers on protection of your principal:
The first sound principle of investment is security for thy principal. Is it wise to be intrigued by larger earnings when thy principal may be lost? I say not.
In other words, you want a decent return, but you don't need to push it so much that your principal is greatly at risk. Now any investment has some sort of risk, but what they're talking about is undue risk that could cost you a decent portion of your money. It's just not worth the risk.
The book ends this cure with the following:
This, then, is the fourth cure for a lean purse, and of great importance if it prevent thy purse from being emptied once it has become well filled. Guard thy treasure from loss by investing only where thy principal is safe, where it may be reclaimed if desirable, and where thou will not fail to collect a fair rental. Consult with wise men. Secure the advice of those experienced in the profitable handling of gold. Let their wisdom protect thy treasure from unsafe investments.
Read more summary of this book
Subscribe to:
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