The headline of this post comes from Gerald Loeb, the most quoted man on Wall Street before Warren Buffett.
His book THE BATTLE FOR INVESTMENT SURVIVAL, initially published in 1935 by Simon and Schuster, Inc., is full of wisdom and belongs in every investor’s library.
Now, would you consider a person with 12 years in any field to be experienced? Suppose you are looking for the services of a lawyer, accountant, physician, dentist, engineer, music teacher, a person in any field. Would you look further than for someone with 12 years of experience?
Well, stockbrokers with 12 years in the business, have never experienced a bear market! Their views on investing are as useful as that of someone with six months of experience.
People paying attention to finance and economics can see the wisdom of the six habits of Monday Morning Millionaires’, daily. The second of these habits is to be a self-directed (do-it-yourself) investor. That alone will save you a full year’s income over the course of an investing lifetime.
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