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Manage episode 152573490 series 1063725
על ידי Joshua Belanger התגלה על ידי Player FM והקהילה שלנו - זכויות היוצרים שמורות למפרסם, לא ל-Player FM, והשמע מוזרם ישירות מהשרתים שלכם. הירשמו כדי לעקוב אחר עדכונים ב-Player FM, או הדביקו את כתובת העדכונים באפליקציות פודקאסט אחרות.
Nicole and I were watching the news last night. They reported that a 74-year-old doctor died after he was hit by an SUV while out for his morning jog. The driver supposedly lost control of the SUV, rolled over and landed on its roof instantly killing him. What happened to this individual is very sad and unfortunate news. However, are you going to avoid jogging now? Likely not! While you know that being struck by a vehicle could happen; you also know that this isn't an ordinary event. I did a quick search on what the odds are dying from running or jogging are. 1 in 1 million. We take risks all day and every day. Most of the daily risks are not thought about because you've done it so often. Before the doctor went on for his daily morning jog, I don't believe he asked himself, is today the day? That is known as an outlier event. Just like in the market, there are tail risks in everyday life. However, we don't lock ourselves inside and refuse to live because of the possibility of one of these outlier events occurring. What we do is continue with our lives, but we try to be smart, aware of our surroundings and avoid putting ourselves in harm's way. When it comes to finance and investing; most avoid it because they are not able to define their risk and understand the odds. Just like in life, there isn't a guarantee because of those unknown tail risk. Life doesn't work that way, and neither does investing, but you can approach investing the same way you live your day to day life by understanding the odds and eliminating your opinions. Risks are all around you; it's about being smart, strategic, aware and avoid putting yourself in harm's way. You can manage your money the same way as you manage your life. If you can do that consistently with your money and in the financial market, the odds are in your favor. This book here will be your starting point on how to accomplish that. http://www.FearlessInvestingWithOptions.com To your wealth, freedom and options! Joshua Belanger