Ankesh
March 7, 2011, 02:48 AM
Thank You Gordon for doing some Black Swan (http://en.wikipedia.org/wiki/Black_swan_theory) kind of thinking.
I have one question: even if the worst oil crisis occurs - will USA see Zimbabwe type inflation? The chances are very close to zero. So why worry and spend time on building a garden and starting a co-op? These are low return strategies. But they are highly time intensive too. Time intensive + low returns = bad idea.
Your time can be put at other better uses. To earn more than food prices will ever increase.
So whats the best use of time? Before that - lets talk about the worst use of time...
The worst thing people can do is consume the same information that everyone else is consuming.
"The secret of business is to know something that nobody else knows."- Aristotle Onassis 1906-1975, Shipping Magnate
And yet - the majority of people still get all their news from CNN and Fox and WSJ.
John Paulson didn't make his 5 BILLION Dollars last year watching CNN and Fox!
http://en.wikipedia.org/wiki/John_Paulson
He slaved his time digging deep and reading technical reports and finding hidden trends. He leveraged his clients money and bet on various opportunities that he found out just a bit earlier than anyone else.
Isn't that how chatteling works? Find hidden value / information?
But you won't find that information in main stream press. So the first thing to do has to be: stop consuming main stream media.
Instead, spend time doing research that no one else is doing.
There are only a few key words that differentiate the folks who are earning a living from folks who are earning fortunes.
Finding hidden information. Selling. Consistency. Leverage. Parlay. (http://www.sowpub.com/forum/showthread.php?t=925)
I have one question: even if the worst oil crisis occurs - will USA see Zimbabwe type inflation? The chances are very close to zero. So why worry and spend time on building a garden and starting a co-op? These are low return strategies. But they are highly time intensive too. Time intensive + low returns = bad idea.
Your time can be put at other better uses. To earn more than food prices will ever increase.
So whats the best use of time? Before that - lets talk about the worst use of time...
The worst thing people can do is consume the same information that everyone else is consuming.
"The secret of business is to know something that nobody else knows."- Aristotle Onassis 1906-1975, Shipping Magnate
And yet - the majority of people still get all their news from CNN and Fox and WSJ.
John Paulson didn't make his 5 BILLION Dollars last year watching CNN and Fox!
http://en.wikipedia.org/wiki/John_Paulson
He slaved his time digging deep and reading technical reports and finding hidden trends. He leveraged his clients money and bet on various opportunities that he found out just a bit earlier than anyone else.
Isn't that how chatteling works? Find hidden value / information?
But you won't find that information in main stream press. So the first thing to do has to be: stop consuming main stream media.
Instead, spend time doing research that no one else is doing.
There are only a few key words that differentiate the folks who are earning a living from folks who are earning fortunes.
Finding hidden information. Selling. Consistency. Leverage. Parlay. (http://www.sowpub.com/forum/showthread.php?t=925)
