First of all, this is not an easy to read book. The author is an academician turned trader and he tends to love himself a little too much. Signs of his ego are injected everywhere, making it a rather un-pleasant ride from start to finish.
But the idea behind the book is extraordinary. It talks about the role of chance (probability) in our success. It talks how many rich traders are just lucky morons and that in the long terms, it's almost impossible for them not to blow. It talks about how an object will revert to it's initial properties in the long term if a highly unlikely event happens (for example, if a idiot wins the lottery, he'll be a rich idiot for only a few years. The probabilities for him to lose the money are very high.
On the other hand, if someone working out of a system takes a hit, chances are that he won't stay broke, but recover rather quickly).
I'm only on page 70, but I want to finish this book. Why is this such a great book though?
Because it's support MJ's concepts of control and leverage. It shows that yes, you can get rich by not following them, but you'll eventually get back poor. In the long term, unless you are using a system that leverages chances to your side, it's impossible to get rich.
And it's a cautionary tale for all "get rich easy" types out there, all of you who thinks that Forex or MLM will make them rich. You may get rich now, but remember that the odds are in your favor and with every passing day, you are one step closer to losing it all.
I must admit this is a rather hard book, so there are many ideas I haven't comprehended yet, but I'll give a full review and summary of key ideas when I finish it.
But, if you want to understand why get rich easy does not work, go and buy it now.
Razvan
PS: Sorry for the typos, just woke up and wrote this first.
But the idea behind the book is extraordinary. It talks about the role of chance (probability) in our success. It talks how many rich traders are just lucky morons and that in the long terms, it's almost impossible for them not to blow. It talks about how an object will revert to it's initial properties in the long term if a highly unlikely event happens (for example, if a idiot wins the lottery, he'll be a rich idiot for only a few years. The probabilities for him to lose the money are very high.
On the other hand, if someone working out of a system takes a hit, chances are that he won't stay broke, but recover rather quickly).
I'm only on page 70, but I want to finish this book. Why is this such a great book though?
Because it's support MJ's concepts of control and leverage. It shows that yes, you can get rich by not following them, but you'll eventually get back poor. In the long term, unless you are using a system that leverages chances to your side, it's impossible to get rich.
And it's a cautionary tale for all "get rich easy" types out there, all of you who thinks that Forex or MLM will make them rich. You may get rich now, but remember that the odds are in your favor and with every passing day, you are one step closer to losing it all.
I must admit this is a rather hard book, so there are many ideas I haven't comprehended yet, but I'll give a full review and summary of key ideas when I finish it.
But, if you want to understand why get rich easy does not work, go and buy it now.
Razvan
PS: Sorry for the typos, just woke up and wrote this first.
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