By John Sage Melbourne
Neglect the majority opinion. It is probably wrong.
Do not accept the truth of anything that you do not know from your own research study to be real. “Scarcely anything that has been pronounced by one found out person,the contrary has been asserted by another … And it would obtain nothing to count votes … for in the matter of a hard question,it is more most likely that the truth ought to have been found by few than by numerous.”
We far too easily accept the majority position. This over approval of the majority opinion also spills into the world of finance. The majority may be right,however the chances are they are not.The axioms disagree with a good deal of popular wisdom: a bird in the hand is worth 2 in the bush,develop a varied portfolio,only wager what you can afford to lose and so on.Most of people believe the ancient clichés to be unarguable truth. You may also observe that the majority are not rich.
Minor Axiom XIV: Never follow speculative fads
Often the very best time to purchase something is when no one else desires it.{ When is the very best time to purchase? When the rate is low obviously. And when is the very best time to offer? When it is high obviously. Although obvious,this method is exceptionally hard to perform for the majority,since get captured in what the majority are doing.