On Suppressing Temptation
Of all temptations known to man, none is stronger -- not even sex -- than the temptation of money. This goes back to the very beginning of humanity, even before the actual development of a monetary system; in fact, a huge percentage of the Biblical verses are devoted to money matters. Of course, it's absolutely fine to be motivated to make money and even harbor some desire to become wealthy. But temptation becomes dangerous when it leads to sloppy behavior -- so, as an investor, I suppress it.
Motivation is what allows me to bet big when the price right, to hold shares for years if the price is still attractive, to buy at $10 and, if the stock drops to $5, to buy even more. Motivation is what also prevents me from chasing a rising stock price out of fear that I will "miss out." Most of all, it's what enables me to think independently, even if that means the consensus is thinking differently from how I am....349 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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