Book for investors and savers: the right approach to investment (mark: 6 out of 10)

• Book for investors and savers
  • The Zurich Axioms
    by Max Gunther
    • To bet and win in life you need not a formula but a philosophy.
      Axioms:
      1) worry is your friend (an exciting one) [and diversification is wrong, because it requires more studying the more you diversify, and it involves confusions]
      2) always take your profit too soon: "if they wanted less, they'd go home with more". Don't push your luck
      3) when the ship start to sink, jump. Difficulties: admitting of being wrong, abandon part of the sum invested, fear of regretting. Accept small losses cheerfully.
      4) Human behaviour cannot be predicted
      5) Chaos is ok, when you start to believe you have identify a pattern in the chaos then it becomes dangerous
      6) Avoid putting down roots. They impede motion.
      You may want to choose between roots and money. Never get attached to things, only to people.
      7) A hunch can be trusted if it can be explained, i.e. if you can state you have enough background in the field so that the hunch is an actual reliable intuition(something you know, but you don't know that you know
      8) Nobody helps you or make an effort to make you rich. Do not ely on the help of God
      9) Optimism is fine as long as you stay confident because you know how to handle the worst: always prepare an exit strategy
      10) The majority opinion is probably wrong: it is more likely that the truth has been found by few than by many. Indeed the majority of the people are not rich, the best time to buy a stock is when nobody want it
      11) If it doesn't pay off the first time, forget it, don't be stubborn
      12) Never take long term plans seriously. The grasshopper is lighter so it hops out of the wrong way more easily than the ant. Long term engender a belief that the future is under control.