atans1

Impoortance of humility in personal finance

In Financial competency on 06/10/2016 at 2:58 pm

Reading about all those accredited investors who got burnt because they bot junk bonds,when they should have known better (http://www.bloomberg.com/news/articles/2016-10-03/singapore-millionaire-77-joins-bondholders-uniting-in-workouts and http://www.bloomberg.com/news/articles/2016-09-19/bond-losses-show-vulnerability-of-singapore-s-not-really-rich) one can only agree with the u/m from NYT Dealbook

SKETCH GUY

One of the Smartest Money Strategies Is Asking When You Don’t Know

Humility, in personal finance, is knowing how to ask for help when you don’t know something, even when you think you should know it.

This is a dumb ass remark from a SMU finance professor: “For financially-savvy investors, they need to know what they’re buying into and not just look at the yields,” said Benedict Koh, a professor of finance at Singapore Management University.

I mean how he can anyone “financially-savvy” who buys only for yields?

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