Comments on: Learn How to Take Risks

By: Andre Charoo

Andre Charoo — Tue, 02 Mar 2010 16:53:18 +0000

Fair point. I must say that I’m not a big stock market investor, however, even in the micro-cap world, if you’re not investing a good amount, then, you’re not going to hit a supernova, because you didn’t have enough invested in the first place. I would probably stick to companies that you can learn enough about and really decide whether you’re going to follow that company for a while. I’m not talking about overnight stock jumps, but rather long term value creation.

In general though, I do believe it works for much larger stocks than micro-caps.

By: Andre Charoo

Andre Charoo — Tue, 02 Mar 2010 16:46:10 +0000

Glad to hear it was an encouragement to you

By: Jordinary

Jordinary — Tue, 02 Mar 2010 15:29:56 +0000

Great post for the week ahead… I’m pumped and I have just hard-wiped plans b and c from my mental archive! Plan A all the way!!!! It’s very reassuring to read these types of articles because often I think to myself I’m too arrogant or over-confident with my approach to school work and indeed career-path. I’ve bookmarked this ) as proof i’m neither.

By: Meghan Fife

Meghan Fife — Tue, 02 Mar 2010 01:59:51 +0000

I LOVE the “No Plan B” point. It almost anticipates failure. And sure, failure will come sometimes. But when it comes you can just create another Plan A.

Here’s to success! Keep moving everybody!

By: Yosako

Yosako — Mon, 01 Mar 2010 22:24:27 +0000

I have to somewhat disagree with the “put all the eggs in the same basket, and watch the basket” mindset, at least for certain area: the stock market.
While that can work when day/swing trading big board stocks, where a good deal of capital is required to do anything worthwhile, on the micro-crap world (junk stocks / hyped frauds / Chapter 11 bankruptcy plays) you have to diversify because of market liquidity issues, common sense, and to increase the chance of hitting a supernova.

By: Tony Ruiz

Tony Ruiz — Mon, 01 Mar 2010 19:06:44 +0000

The video with Will Smith is awesome. I love his in energy in the clip. I saw that video clip awhile back and I never get tired watching it.

Taking risks is a scary thing but if you don’t take them you’ll never find out what the outcome is. I rather live a life of taking risks then a like of “what if(s)”

By: Tyler Tervooren

Tyler Tervooren — Mon, 01 Mar 2010 18:41:54 +0000

Right on, Albert. There is absolutely no way to know for sure what the outcome will be until you put yourself out there.

2 things that come to mind for me:

1) Plan big, act small. Know what your long term vision is, but for God’s sake, get started with the first step. Find something you can get out to the world, get feedback, adjust accordingly. Don’t get caught up thinking every step has to be some HUGE venture that you’ll live or die by.

2) Get your goals crystal clear before you even start or you’ll have no idea if you succeeded or failed. There shouldn’t be any “I guess it worked” or “It might not have turned out.” Set up your measurements and a deadline and when that day comes, you either succeeded or failed. Adjust accordingly.

I’m actually starting a writing project soon that deals directly with taking small, calculated risk to improve your life. My name above links to my twitter account and I’d love feedback if anyone would like to chat.

By: Albert Ciuksza

Albert Ciuksza — Mon, 01 Mar 2010 14:59:46 +0000

One of the best pieces of advice I’ve ever heard is that you have to “learn to live within the question”. This is most true when you’re in a start-up environment — it doesn’t matter how much market research you do or how many focus groups you test, you’ll never really know how well it works until you let the market decide.

By: Ryan @ Planting Dollars

Ryan @ Planting Dollars — Mon, 01 Mar 2010 14:26:43 +0000

I like your list Andre. I remember hearing Will Smith say that and it reminds me of the idea of “burning the ships” so if you want to go home, you have to win the battle. Much like Sylvester Stallone never got a job because he feared becoming complacent.

This flies in the face of conventional personal finance, but if everyone is doing it, it’s not remarkable.

Make your goal your purpose and align it with your meaning so you believe in it with your soul.