To all of our readers around the world. We have had an unforeseen delay regarding our major announcement. As soon as we are ready, we will publish it in our daily news feed.
Regardless of where you put your money or even if you leave it in a bank account, a simple but very powerful prerequisite to success in the money game is to have a large enough financial vocabulary.
You must first choose your asset class that you wish to focus on. In my case, the internet is where the bulk of my time is focused on. Words like dedicated server, HTML, Googlebots, bandwidth and patch releases are what I use to communicate in my field.
If the stock market is your vehicle of choice, then other words such as market capitalization, ex dividend date, asset allocation, prospectus and initial public offerings have meaning.
You must become literate before you proceed. I have seen far too many investors wowed by technical terms they do not understand, put their money into something and then lose a substantial portion if not their entire investment. A simple way to increase your vocabulary is by going for lunch with someone in the field you wish to invest in and having them describe concepts they have used to become successful. They may even have a recommended reading list they have used in the past to further their knowledge. There is no shame in saying my three favorite words “I don’t know” because there is far too much information for one person to ever grasp in a lifetime.