Politics have zero to do with your finances. Consume copious amounts of financial data daily, learn to understand it, and keep up with events that affect your money. Dont keep up with news that affects your emotions.
Be wise, deploy your capital wisely and with sophistication. Strategies of the past may not work for 2023 conditions. Seek out true wisdom and sophisticated answers.
At this time today, what is the opportunity cost for you? This vs. that. Weigh it accurately and make an unemotional choice as to what is best. Investments: equity, job, education, marriage, kids, education. THINK IT THROUGH!
If its good enough to screenshot and post, its good enough to liquidate and take your profits off the table.
Trading advice heard on a YouTube channel today. Think about it.
For some commodities there exists a strong liquid market with firm pricing (such as chart below). Others such as diamonds, ultra-fine copper, etc are more obscure and need a real valuation done in order to monetize them. We do valuations.
If you aren't making money while you are sleeping, you are doing it wrong. To gain wealth and freedom you must have passive income to replace your earned income.
Markets are moving. Dont let emotions and fear affect your decisions. Stick with your strategy; assuming your sophisticated enough to have made a competent one.
Another sign of a rapidly declining exotic car market:
- 2020 Mercedes G-Wagon (AMG)
- 3,992 miles, mint condition, gray color
Just sold at Manheim Auction on Friday for $179K (!!!!)
A year ago this would have sold at auction for over $240K. a 25% y/y decline.
My biggest fear with any new busines venture is moderate success.
If you fail, you can shut it down and move onto the next thing.
If you succeed wildly, you can double down on it.
But moderate success? That's like getting stuck in purgatory.
Hold on to your capital, dont waste it on gifts and such things. Deploy your capital into assets only. An asset is income producing. Your car and house are Not assets, they are the opposite, they debit your bank account every month.