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Backgammon Strategy for Investors So we've learned that backgammon teaches you to quit before things deteriorate further. Now we also learn a lesson or two about investing from backgammon players.
Well, not exactly. Amols' Ledge reveals 5 investment secrets (based on, or quoted from Richard Farleigh, who had made his first million(s) before 35 and boasted about it in Taming the Lion: 100 Secret Strategies for Investing), and the second secret in the list is that investment is closer to backgammon than to chess. What means that luck and the arbitrary changes of circumstances impact the destiny of an investment, for better or for worse.
It also means that whether you trade or play backgammon, losses are inevitable, so you might as well sit back and begin to consciously anticipate them, you cannot always go right so why keep analyzing your mistakes (maybe because that's only the way you can separate the chance factor from the mistake?). And always bear in mind that even good ideas can lose money, the most talented traders make mistakes and that the best backgammon players in the world lose unintentionally when they play against their 5 years old nephews.
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