tones. This program or that program is the newest “Holy Grail” of the
investment world. Beginners often float from system to system, looking for
that special something that will bring them the riches they desire. All too
often, the second definition is ignored.
Success in investment requires a certain psychological devotion to the
purpose. Far too many investors expect full-time income from their
investments, with only a part-time (or less) investment of energy and focus.
This cannot be, for as the old saying goes, “You don’t get something for
nothing.” Interestingly enough, while investors of all colors hold up Warren
Buffett and George Soros (among others) as the flag-bearers of the craft, few
stop to analyze the examples. Both men are rich almost beyond imagination,
yet how did they get to where they are today? Their seeming overnight
success was in fact not overnight at all, but the result of years and years of
steady, compounded returns.
Berkshire Hathaway, the investment group founded by the legendary Warren
Buffett, has earned, on average, a little under 25% return annually. Certainly
these returns are far better than the S&P 500 average of 9%, but by no
means are they in the hundreds or thousands of percent. And yet Berkshire
Hathaway stock trades at nearly $100,000 per share, and Buffett stands as
one of the richest men in the world.
George Soros is another great example of legend distorting fact. His role in
Black Wednesday (September 16, 1992) is well publicized. Soros’ Quantum
Fund sold short nearly $10 billion dollars worth of British Pound, and forced
The 7 Deadly Sins Of FOREX (And How To Avoid Them)
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