First Rule of dealing with money

Herbert Casson – First Rule Of Dealing With Money

Most businessmen lose a lot of money because they don’t follow the first rule of a true investor.

You should not invest in business if you know nothing about this business. You should invest in business that is close to you or not far from were you live. Then you are not investing in air, you are paying for something that you can actually see and follow the process and even use the services of this business yourself. If you know the business you are investing in, then it will be really hard to cheat you.

Herbert Casson – first rule of money:

You should invest only in something that you know.

In other words, every amateur investor is more or less striving towards illusions. You should get involved in something that you know and thus you should invest only in business that you know. You should not invest into suspicious businesses, especially if someone is pushing you to do so.

Herbert Casson states that if people knew and followed this rule, then it could prevent quarter of losses in the world of business.

“Someone’a money are always under siege. It is almost always harder to save money then to make them”.

When a person starts to have money, then he or she suddenly has a lot of “friends” that are helping this person to lose that money. It happens all the time.

You should invest your money, time and energy only into something that you know and something that can bring you profit soon. It helps to keep professional activity in the evolutionary state. It is needed in order to get new qualities and improve skills.

You can buy the book by Herbert Casson here:

https://www.amazon.com/gp/product/1856460754?tag=openlibr-20