Hi and welcome back to yet another episode in our financial freedom journey. As I am writing this,I am listening to a book by Benjamin Graham called ‘The intelligent investor’. Seriously enjoying it as I am getting firsthand information from the granddad of investing, I say granddad as we have all determined that Warren Buffett is the father of investing.
Why am I talking about grand dads and dads on this post well I’ll tell you why. Its so important to educate yourself and increase your knowledge when it comes to these topics. If by any chance I am your only source of knowledge when it comes to investing I would say you are doing it wrong. Don’t get me wrong I am truly flattered but I am by no means the smartest man in the world (nor do I care to be) I simply know enough about a topic (investing) to be confident in what I am doing. This means in an up market (last year) and a down market (right now).
In last weeks post we spoke about how incredibly silly it would be pulling out money right now if you are a similar investor to my wife and I. The point I would like to highlight is the fact that you need to be hungry to improve your own knowledge on the topic. This is so that when the hard times come around not if but when you will not waiver in the face of a market down turn (like a lot of people are currently doing.
On a side note I am working on an amazing project with my best friend and we are building something together, that required a bit of seed money so I have decided to use $500 of our investment money (as this is an investment) to do this. Hence we invested $500 less but we did invest.
Then on a side side note, the US500 is up 0.85% at the time of writing… that has me stumped as I thought the US has recently surpassed everyone as the most current deaths and cases. Again I say to you don’t try to time the market and please don’t try to time this swan.
Thats going to do it for this week. Hope to hear from you and your journey soon!