Invest in knowledge and experience from "summary" of The Dao of Capital by Mark Spitznagel
Knowledge and experience are the foundation of successful investing. Without a deep understanding of the market and the factors that drive it, one is simply gambling rather than investing. This is why it is crucial to invest time and effort in acquiring knowledge and experience before diving into the world of finance. Knowledge allows us to make informed decisions based on facts and data rather than emotions or impulses. It gives us the ability to analyze trends, predict market movements, and identify opportunities that others may overlook. Experience, on the other hand, is gained through trial and error, through learning from both successes and failures. It is what hones our instincts and refines our strategies over time. By...
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