The chase for a quick profit is driving new investors into trouble, says a financial expert Tom Kreutzbergrecalling the Latvian saying “better acorn in hand”.
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He explains that an acorn is considered a moderate and responsible amount of money, but big money is like a “crocodile in a tree.” Namely, new investors want to make quick money and therefore make unsafe, risky transactions, which in the end lead to losses, while reasonable options at the same time would bring stable, pleasant profits.
“Why do big profits usually lead to tears?” asks Kreutzberg rhetorically and explains that a new investor lacks both the experience and sources of information available to wealthy investors. Realistically, a new investor can at best hope for an average return on the market because it is difficult to beat the market.
This video is offered by “The independent investor” in cooperation with “Delfi Bizness” to explain how to save and invest effectively while living in Latvia. Follow our news on the “Delfi” portal and follow YouTube for the channel “The Independent Investor”. If you are also interested in developing your investing skills, go hereto register for a free investing webinar hosted by Tom Kreutzberg coming soon.
