3/26/2009 1:27:57 PM
Intangible vs Tangible
In my opinion, and I am still young and I do not know anything about economic downturn, the following would be wise for me in good and in bad times:
To invest in tangible assets, such as real estate, gold and silver as was mentioned in this chapter.
I believe most of our financial problems begin when we invest in the intangible--make no mistake alot of people have grown rich from this but I find this type of investments risky. Shares, policies... they don't *REALLY* exist... they are intangible... which is also the reason I believe we see this collapse, it is the collapse of nothing.. the collapse of the monopoly money.
Always do the calculation and try to project as accurately as possible what your return will be on your investment, this can only truly be calculated with the IRR function.
Good luck to all.
PS. I believe these are bad times, and we are moving into hard times, but as wealth creators we need to continuely see opportunities and where other people see scarcity, ABUNDANCE!
PPS. Do the opposite of what people are doing now.