Under 30: You should have zero opinions to share if you haven't done at least $1mm in transactions in a particular asset class.
Over 30: You should have zero opinions to share if you haven't done at least $1mm in P/L in a particular asset class.
All else is a LARP.
Over 30: You should have zero opinions to share if you haven't done at least $1mm in P/L in a particular asset class.
All else is a LARP.
The number of people with such dogmatic views without actually transacting/attaining even an iota of success or PnL is crazy.
Time should be spent in learning mode instead of mouthing off stuff that is read or watched.
ESPECIALLY about finance/biz/economic matters.
Time should be spent in learning mode instead of mouthing off stuff that is read or watched.
ESPECIALLY about finance/biz/economic matters.
All the reading in the world isn't going to give you an idea of how it feels to have your NW/specific sizable investment go -50% or 3x.
Or how it feels to scale or crater a biz model and the issues that comes with it.
Or how it feels to scale or crater a biz model and the issues that comes with it.
Got self-storage guys giving tech advice.
Got ecom gurus giving advice on crypto.
Got grannies giving advice on stocks.
Tune it out. Use the $1mm threshold as a rule of thumb before you commit even an iota of brain power or financial resources to something.
Got ecom gurus giving advice on crypto.
Got grannies giving advice on stocks.
Tune it out. Use the $1mm threshold as a rule of thumb before you commit even an iota of brain power or financial resources to something.
One note: there is a difference between contributing to a conversation vs. giving direction.
One comes from a place of learning and collaboration.
The other comes from a place of authority.
Know the difference. This is about the latter.
One comes from a place of learning and collaboration.
The other comes from a place of authority.
Know the difference. This is about the latter.