book.chapter Primary principle 1 - hazard evaluation

Worry isn't a malady but a hallmark of vitality. Those who don't worry likely aren't venturing enough. Escaping worry might seem safe, but it can lead to a life of poverty and tedium. Life should be an exhilarating journey, filled with risks that make it worth living. Whether it's in love, sports, or finances, the possibility of failure adds zest to our endeavors. Embracing risk is essential for financial growth. Working for someone else rarely leads to wealth; the system doesn't favor the employee. A balanced approach is to invest half your energy in a job and the other half in investments and speculation. This strategy offers more upward potential than downward risk, turning life into an adventure. Gerald Loeb's insight that all investment is speculation rings true. There's no risk-free financial move; every investment is a gamble. To truly succeed, one must play for meaningful stakes, betting amounts that are significant enough to matter. This approach may induce worry, but it's the kind that can lead to substantial rewards. Diversification, often touted as a safety net, actually dilutes the potential for wealth. It can lead to a balancing act of gains and losses that ultimately gets you nowhere. Instead, focus your resources on investments that genuinely interest you. By concentrating your efforts, you can give your chosen investment the attention it deserves, increasing your chances of success.