One of the most commonplace queue in Singapore can be found at Singapore Pools where hopefuls part with their hard-earned cash in exchange for the chance to catch a windfall.
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| Waiting to place their bets at an outlet of Singapore Pools |
Why do they gamble? Short answer is that they do not know better regarding how to increase their earning propensity.
While both gambling and investing involve taking risks and making choices, gambling operates under a fixed timeline and there is nary any option to mitigate your losses once you have placed your bets.
With regards to investing such as shares investment, for example, there is a steep learning curve. You can learn from textbook on the various approaches to value the shares of a company (Book Value approach, Equity and Debt approach, Discounted Cash Flow approach, Comparative Valuation approach and Option Valuation approach) and measurement methods (e.g. price-to-earnings ratio, price-to-book ratio, dividend yield ratio and net assets value per share).
However, there is a vast difference between mere head knowledge as opposed to knowhow or expertise which is acquired through studies and experience. Warren Buffet says that you don’t have to be a genius to be a good investor, but there is a lot of hard work and due diligence involved, including playing by some trusty investing rules to be successful.
He went on to say, “The most important investment you can make is in yourself.”
Click here for 29 Warren Buffett Quotes on Investing, Life & Success by Phil Town.
Speaking of investing in yourself, Bob Proctor will have you know that you were born rich.
If you are interested to discover and develop those riches, click here for a pdf copy of You Were Born Rich by Bob Proctor.
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| Photo by Clark Tibbs on Unsplash |
