Successful investing requires understanding how you will get your money back, not just trusting others without verification; investors must actively seek knowledge, humble themselves, and avoid the trap of thinking they already know everything, as banks don't lend money without expecting repayment.
Deep Dive
Prerequisite Knowledge
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Where to go next
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Deep Dive
Ndamukong Suh's Rule For Trusting The People Around Your MoneyAdded:
Trust but verify. Trust but be involved.
Go through the process. Go through the learning lessons. Don't just be the the bank but not have an understanding of how you're going to get your money back because banks don't loan money to not get their money back. At the end of the day, you don't you should invest to not get your money back and understand how you're going to get your money back at the end of the day or how it's going to become a long sustainable business for you and whatever it is. And I think that's where people get hurt from that standpoint. But also, I think it comes down to simple laziness. Just because you're at the top and you're considered to assume that you know everything, humble yourself and ask questions. You don't have to know everything. Don't think that because people around you expect you to know the answers that you should know the answers. Actually go and seek them and and and be it as a requirement to again be a constant learner.
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