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Author Topic: Best strategies and worst strategies ?  (Read 282 times)
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Today at 08:51:35 AM
 #21

Today I was reading the of Morgan Housel ' The psychology of Money'. In the page no 28 there are 3 questions asked
1) What investing strategies work? Which ones don't?
2) What business strategies work? Which ones don't?
3) How do you get rich? How do you avoid being poor?
I would love seeing your answers of these questions because nothing comes to my mind whenever I see these questions.

The best strategy for most people is actually rather boring, find a reliable ETF provider like vanguard, choose a reinvesting fund that's spread globally across say the top 5000 companies and go for the ones that charge minimal fees. Then the only plan is to dollar cost average and keep pumping as much as possible into it every month. It's not glamorous and is boring however, plus it'll take many decades for it to accumulate enough for you to retire on. If on average you're able to make 7% per year on your investment that would be considered a decent recent for the risk. It's worth noting that you should probably rebalance towards bonds as you get to later life, because these will be more protected from recessions. Outside of that you're into much more risky territory, which might pay off or it might wipe out a large chunk of your capital.

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Today at 08:53:49 AM
 #22

Reading this thread, it seems like the strategies, whether good or bad, still take effort. Whether you do your best or not, there's a factor that plays a role in this; it's luck as well.

Sometimes, everything aligns so you can get a good outcome from good/bad decisions. I think this applies to it as well. There might be compounding effects as well.

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Today at 09:10:20 AM
 #23

I would love seeing your answers of these questions because nothing comes to my mind whenever I see these questions.
Your questions are vague. Businesses would have to apply different strategies in various types of investments. There are also different strategies at different levels of business. A new business would have to have a distinct pattern from an established one
The business location would also affect the pattern owners should adopt.

Most people who get rich are investors or business owners. They develop a system where their income exceeds their expenditure. You can get rich by developing more than one source of income and managing your financial resources effectively and efficiently

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Today at 09:18:08 AM
 #24

Today I was reading the of Morgan Housel ' The psychology of Money'. In the page no 28 there are 3 questions asked
1) What investing strategies work? Which ones don't?
Jumping from one strategy to another won't fix the problem, and truth be told all strategies work one needs to just fine tune them.

Funny enough, in 2026 never thought people would be using RSI, or Bollinger bands but we have traders still using these profitably and this is proof that it's not the strategy that's broken.. it's the trader themselves!

2) What business strategies work? Which ones don't?
Difficult to answer this one..not a one answer fits all.

3) How do you get rich? How do you avoid being poor?
I would love seeing your answers of these questions because nothing comes to my mind whenever I see these questions.
Not being scared of risk I suppose, and pretty much getting out of ones comfort zone is the answer..

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Today at 09:30:22 AM
 #25

Reading this thread, it seems like the strategies, whether good or bad, still take effort. Whether you do your best or not, there's a factor that plays a role in this; it's luck as well.

Sometimes, everything aligns so you can get a good outcome from good/bad decisions. I think this applies to it as well. There might be compounding effects as well.
There's a bit of touch of luck but, we create that luck by working hard and exerting more effort.
Most of the wealthy people exerted most work, if we work usually 40 hours a week, they've worked double or even more than that.
We take the example of Elon Musk, he's said that he's working around 80 to 100 hours a week.
But I agree with that analysis of yours, every success requires effort. Otherwise, those who became rich who didn't do much effort are either heirs/heiress or won the lottery.

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Today at 01:33:18 PM
 #26

From what I've observed, strategies should be aimed to long term goals, while avoiding the short term ones which promise richness overnight. Therefore, the working strategies involve being patient, focused, resilient and detached from ephemeral luxuries and pleasures.

When the investors is focused in short term strategies, he relies too much on luck, and too little on himself, so it's never a good deal, because he is putting his expectations on something out of his control. That is why many people fail and frustrate themselves, especially in this crypto industry.

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Today at 04:24:41 PM
 #27

3) How do you get rich? How do you avoid being poor?
I would love seeing your answers of these questions because nothing comes to my mind whenever I see these questions.
If you are asked how you intend getting rich and you genuinely don't have a valid to that, then you have some big problem. becoming wealthy don't just happen just because you are a lucky person. there are processes to it and every and anyone that wants to thread that part should know the route that will land them their. talking about poverty for instance, if you are lazing about, you already know that you are preparing to land there. the strategy out is to be busy about doing the right thing. you have to do something and do it the right way, that is the only escape route for you.



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Today at 06:14:34 PM
 #28

3) How do you get rich? How do you avoid being poor?
I would love seeing your answers of these questions because nothing comes to my mind whenever I see these questions.
If you are asked how you intend getting rich and you genuinely don't have a valid to that, then you have some big problem. becoming wealthy don't just happen just because you are a lucky person. there are processes to it and every and anyone that wants to thread that part should know the route that will land them their. talking about poverty for instance, if you are lazing about, you already know that you are preparing to land there. the strategy out is to be busy about doing the right thing. you have to do something and do it the right way, that is the only escape route for you.



There's a saying I know that in the last part talks about how big minds discuss ideas. I can't quite the whole saying, but the point is that, inorder to get rich, one must either inherit it or do something shady or discuss good ideas that are executed in time.
Without this step of execution of ideas, wealth can never be discovered and that's just how it is no matter the strategy that's drawn out.
Have a good idea, draw it out on paper and work towards achieving it step by step. This is the path to wealth.

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Today at 06:33:16 PM
 #29

Today I was reading the of Morgan Housel ' The psychology of Money'. In the page no 28 there are 3 questions asked
1) What investing strategies work? Which ones don't?
2) What business strategies work? Which ones don't?
3) How do you get rich? How do you avoid being poor?
I would love seeing your answers of these questions because nothing comes to my mind whenever I see these questions.
It will have to narrow down on the type of investment you speak of.

If it is cryptocurrency then we all know that then best strategy is investment on the right coin, at the right time, buying low selling high, long term hold and continuous accumulation over a period of time.

For business they are very many, what works for you may not work for someone else that is why ome business owner are progressive while others aren't. It's because they are employing the wrong strategy into the right business.

Getting rich isn't always the problem, the main problem is staying rich and maintaining wealth.

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Today at 06:34:55 PM
 #30

Today I was reading the of Morgan Housel ' The psychology of Money'. In the page no 28 there are 3 questions asked
1) What investing strategies work? Which ones don't?
2) What business strategies work? Which ones don't?
3) How do you get rich? How do you avoid being poor?
I would love seeing your answers of these questions because nothing comes to my mind whenever I see these questions.
Skills are the answer. Learn valuable skills like marketing, selling, etc and invest in YOURSELF and your ABILITY to make money. After you have a couple thousand euros or dollars(depending on where you live) then you can start investing into peer to peer lending, real estate, crypto and stocks.
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Today at 07:10:38 PM
 #31

There is no universal best strategy and there is no universal worst strategy. Any strategy can work for anyone or any kind of business. I have realised this because sometimes you see someone do a particular investment in a certain way and it works perfectly for them. You too try to copy them and it ends in disaster, then you begin to wonder if it wasn't thesame idea you are using.

Instead of trying to copy best strategies from anyone, there are some key things you must do yourself.

  • first study and try to understand the business idea or investment you intend to venture into
  • know the risks involved and try to access yourself if you can handle the risks
  • Try to know the expected  rate of returns and how long it will take you to be profitable if all things remain thesame. This will help you handle short term or long term expectations
  • Avoid get-rich-quick investments because they are mostly scams

Some strategies work for some people because they know what they are doing and can still stay calm even when they are losing.

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Today at 07:39:45 PM
 #32

Haha, although I haven't read the book, I think you will get the answers to these questions only after completing the book. Anyway, since you posted on the forum, I share my opinion, Although I don't know if this will work for everyone. Because different strategies work for each person during investment. Some may want to invest for the short term and some may want to invest for the long term. Also luck is a big factor here along with investment.

In business I would say that if you work with the product or sector that you have a good interest in, your business is more likely to be successful.

And to become rich, I can say that it depends on your needs. For example, if someone can stay healthy and meet the basic needs of himself and his family, he is also a rich person. Again many people have millions of dollars but they want more. Here, although he is rich in terms of money, he is not rich in terms of mind.

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Today at 07:52:11 PM
 #33

Today I was reading the of Morgan Housel ' The psychology of Money'. In the page no 28, there are 3 questions asked
1) What investing strategies work? Which ones don't?
2) What business strategies work? Which ones don't?
3) How do you get rich? How do you avoid being poor?
I would love to see your answers to these questions because nothing comes to mind whenever I see these questions.
The three questions ball down to same answer, at least for someone who have active business and running for over three years, we can say what makes the business successful to this extent, when your business or investment becomes successful is now easier to build wealth through that business.

Capital reinvestment is the key to success in business, meaning even when your business is successful and you can take out your capital, you should reinvest that Capital instead of spending this key step helps you build multiple streams of cash flow.

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