Foreword
Every word and things involving humans involve their stands and bias, based on the affect and influence of society and their experience.
Your experience will influence your action, and some say that you have a free will, a free spirit of control everything. If someone gets what I meant, the consciousness of free will is also influenced by others and based on your experience.
When others beliefs and judgement are involved in investing, people tend to use their power to affect you, alter your original decision.
Friends or family?
Friends and family are the most intimate people in your comfort zone. When you were making your own decision, they will first express their ideas and how they would invest if they were you. Trying to convince you, for the name of ‘for your sake and care’. However, they could not 100% guarantee the outcome.
The Professional?
Professional is professional, and I would not doubt it. They know how the game works in their industry, such as the advantages and disadvantages of a particular financial product and the risk that their client could afford.
See, here is a thing. There is a term called ‘conflict of interest’, meaning when they are selling a product to their client with a commission, they will care for their best interest and ignore the real needs of their clients.
You could try to substitute yourself into the situation. For example, you are a car dealer. Your responsibility is to sell the car; the more car you sell, you will receive more commission. In this circumstances, you will be motivated to sell the most car possible, and you will not even care what the customers really need.
News and information?
I have come up with a 3 stage system of realising the information.
Self-determination, reliable sources and news/media source.
The first stage would be self-determination.
It would be the most challenging stage because it requires a certain level of knowledge and has to identify and analyse all the data to make the best decision.
The second stage would be reliable sources (could be via person or social media etc.).
This stage could be un-verify, leak, rumour or reliable sources that could tip or quickly receive information from an informant.
The third stage would be the news/media source.
Typically, at this stage, the news already is delayed, and the information is well-spread. Everyone should know it.
Against the problematic factor
Determination, Insight and Prediction
Do not be afraid of having a different point of view, even though the majority does not support you. Most of the financial crises happen, under the people eyes, for instance, the 2008 financial crisis – the trouble is led by the mortgage-backed securities, followed by the banking and insurance company, nearly lead to an end of the United States.
Learn, learn and learn
The three important words, learn, learn and learn.
Everyone, including you and me, should keep learning to prepare ourselves, prevents any crisis that happens to hurt us, and protect ourselves, friends, and family.
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