21 Ways Rich People Think Differently

[OnClose]

http://finance.yahoo.com/news/21-ways-rich-people-think-differently.html?page=1

 

[Wide Tailz]

"While the masses are fixated on the doing and the immediate results of their actions, the great ones are learning and growing from every experience, whether it's a success or a failure, knowing their true reward is becoming a human success machine that eventually produces outstanding results."



"Average people believe the markets are driven by logic and strategy. Rich people know they're driven by emotion and greed."

:eek:

 

[kjones5159]

Good article.

 

[Eight]

Quote from OnClose:

http://finance.yahoo.com/news/21-ways-rich-people-think-differently.html?page=1

+1

 

[halfwaythere]

11. Average people believe the markets are driven by logic and strategy. Rich people know they're driven by emotion and greed.

Investing successfully in the stock market isn't just about a fancy math formula.

"The rich know that the primary emotions that drive financial markets are fear and greed, and they factor this into all trades and trends they observe," Siebold writes.

"This knowledge of human nature and its overlapping impact on trading give them strategic advantage in building greater wealth through leverage."

What about HFT?

 

[sle]

This is a load of crap designed to sell this assholes book to wannabe rich. Rich people, just like poor people, are a diverse bunch and they think in a number of ways. An owner of a laundromat chain has little in common with a hedge fund manager, neither in terms mentality nor everyday interest.

 

[mr double]

give me a fucking break

 

[dolemitettu]

Quote from sle:

This is a load of crap designed to sell this assholes book to wannabe rich. Rich people, just like poor people, are a diverse bunch and they think in a number of ways. An owner of a laundromat chain has little in common with a hedge fund manager, neither in terms mentality nor everyday interest.

I think if you boiled it all down you'd find a large number of similarities, actually.

 

[vinc]

Quote from OnClose:

http://finance.yahoo.com/news/21-ways-rich-people-think-differently.html?page=1

good article -reminded me to check my lottery numbers

 

[CaptainObvious]

Gina Rinehart lives entirely on inherited money and she's giving advice on work ethics. Classic! If hard work was all it took there would be many more wealthy people than there are now. Given the choice, as if I have one, I'd take dumb luck any day of the week.