I was reading Bill Gates’ favorite book, Business Adventures by John Brooks for today’s Book-of-the-Day.
I can sum up much of the book in a few points:
1. The Opposite Is Often Better: The average human is usually being tricked into doing the wrong thing with their money. When people are buying you, should probably be selling. And when they are selling, you should probably be buying from them.
2. Appearances Are Often Misleading: “The expectation of an event creates a much deeper impression … than the event itself.”
3. The Only Thing Predictable Is Unpredicability: J. P. Morgan was asked by a newbie what he thought the stockmarket was going to do. “It will fluctuate,” replied Morgan dryly.
4. Things Will Go Up And Then Down For A Long Time: “We may see another speculative build up followed by another crash, and so on until God makes people less greedy.”
Knowledge is what creates wealth. Books like this can change your life.