- Admin
- #4
MJ DeMarco
I followed the science; all I found was money.
Staff member
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
Here are some of my rules, thinking off the cuff...
- Having your cash lose 5% from inflation is better than losing it 100% from a bad investment.
- Trust no one who doesn't have to be accountable for their actions or isn't subject to a minimal amount of governance -- sometimes bigger is better.
- A fancy website and slick copywriting doesn't mean its legit.
- Invest in what you know, but learn to expand what you know...
- The more complicated an investment, the better probability it will end up as a method and the means for bad actors to scam the uneducated.
- If everyone is doing it, I won't be doing it -- or better, I'd approach it from the "shovel" perspective. (Sell shovels in the gold rush).
- Try to keep liquidity at least 30 days away, best case, 1 day.
- Always make sure the worst case scenario (black swans) doesn't put you back into the poorhouse-- if the "worst case" has you looking for a job, you're poorly diversified and rolling dice.
- Would you sell and take gains if the actual cash was in front of you? And not a number on a computer monitor? (See picture)
- Beware of Diodetic expenditures -- buying a Lambo causes a lot more expenditures outside of the cost of the car itself -- gas, insurance, maintenance, car washes, etc.
- The better investment will always be something you can control, vs something you cannot.
Dislike ads? Remove them and support the forum:
Subscribe to Fastlane Insiders.