Post
Topic
Board Economics
Re: What is the golden rule of investment?
by
og kush420
on 05/06/2022, 23:27:43 UTC
I have a friend who invests in cryptocurrency like me, he is an investor hold Luna and he has also lost quite a bit because of Luna. But what's more sad is his 2 best friends. Those two are also hold a lot of Luna's and Luna's crash causes them to lose all their possessions and become insane. As he said, one person has gone through the crisis and one has not. Those two guys who invested in Luna were all from my friend's advice. He said it was he who indirectly harmed them, money can be earned, but his friend are gone.

This is a sad story that I have heard. Through this story I want everyone to know 1 golden rule in investing is: never give financial advice to anyone. By the time you give them financial advice, you may feel like you're one step ahead of them, but if that advice is wrong, you could be the one hurting them.

I like what you said - my mother is like this - always giving medical and financial advices and I always ask her not to do that. Sometime when you give advice and person do it - you are held responsible so stay neutral - try not to be over smart by telling other that you know a lot. I am going to tell my mother the OP post in the morning.