Generally people make some estimation of markets by seeing the history. But there is always possibility of happening something new that is not expected at all and may be much more dangerous than that is estimated from history.
We can see the example of covid pandemic no one ever estimated that thing of this level can be happen but it happened. So the market is full of surprises, no one can predict it with shorty.
MORE IDEAS FROM The Psychology of Money
The highest form of wealth is ability to wake up every morning and say "I can do whatever I want today".
The ability to do what you want, when you want, with who you want, for as long as you want, is priceless. This can only be possible if you have money If you don't have may take a leave by you will not get full freedom of time. That's why money provide you freedom.
Why do so many people who are willing to pay the price of cars, houses, food and vacations try so hard to avoid paying price of good investment?
The answer is simple: the price of investing success is not immediately obvious.Its not a price tag you can see, so when bill comes due it feel like fine not fee. That's why people not succeed in investing.
In order to succeed in investing start seeing the investment due or decline as fee not fine.
Studying a specific person can be dangerous because we tend to study extreme examples—the billionaires, the CEOs, or the massive failures that dominate the news—and extreme examples are often the least applicable to other situations, given their complexity. The more extreme the outcome, the less likely you can apply its lessons to your own life, because the more likely the outcome was influenced by extreme ends of luck or risk.
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