Sunday, September 16, 2007

Investment Seminars

Beware of investment seminars. They tell you that over a 2-3 day
period they can teach you to become a successful investor. Then they
try to sell you more expensive education or services. If these people
had really successful trading systems, why would they need to sell
the information when they should be able to make more than enough
money trading their own system?

Investing is a skill that takes a lot of time and practice, like
playing the piano. Would you expect to learn how to play the piano
like a concert pianist in just 2-3 days? I don't think so. So how
could you expect to learn how to be a successful investor in 2-3 days?

I never attended any investments seminars, but instead read many
books, costing a lot less than the average price of a seminar. It
took years of study and practice to get where I am today. It would
have taken about the same amount of time had I attended a seminar,
although it may have saved a little time in the beginning. But this
is not a race. The pursuit of knowledge, including investment
knowledge, is a lifelong process.

Another thing about these seminars is that they typically teach a
specific method of investing. What they don't tell you is that their
method might not work for everyone. There's not a single method in
the world that works for everyone. We are all different. What works
for some people just doesn't work for others.

Take my method for example. It works great for me. I could probably
market it and hold seminars for $4000 too. But I don't, because I
know that my method might not work for everyone and I just wouldn't
feel right taking other peoples money for something that doesn't work
for them. So, I give it away for free and get more satisfaction from
helping others who find it beneficial. I make all my money trading my
method, not selling it.

Now, that's not to say that all investment seminars are bad and that
these companies are dishonest. We live in a capitalistic society and
they have the right to market their methods. Some people are helped
by these seminars, but others are hurt by them because they go in
with the wrong expectations. Then when things don't turn out like the
ads stated, they give up and try another seminar. In the end, they've
spent thousands of dollars and have nothing to show for it. I know
people who have done this, and it's sad. They're always looking for
the "Holy Grail", which just doesn't exist.

I believe there are no shortcuts to learning how to be a successful
investor. It takes lots of time, study and practice, and is hard
work, but the benefits are worth it.