Charels
Wheelan argues that there are lots of people buying and selling stocks to
get rich quickly. He also argues that those people are wrong. He explains how
the market works and why those people aren’t likely to become very rich in a
day. In his eyes, the long term savings are the best way how to fight the “biggest thief – the inflation”. The
interesting and horrified thing about inflation, is the fact that even though
you work hard and earn lots of money, your work value devalues over the time.
My friend once told me a story about his brother. His brother was 10. He was
saving money to pay someone to write his bachelor paper at university. He has
saved 2000 SK. However, since Slovakian Economy was getting better, the value
of SK was higher. He lost over 100 SK on savings per year only because of inflation.
He was horrified, when his brother told him so.
However,
there are lots of stories of people becoming very rich over a few days in the
stock market. Is it luck? Wheelan
argues that the role of information might also play a huge role in trading in
stocks. If I know something more than someone else, than I can buy and sell
stocks at more accurate price. However he also mentions that it is against the
law.
In
general Charels Wheelan expresses his
concern about quick speculation brokers, who want to become rich quickly.
No comments:
Post a Comment