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  1. EF-Roger

    EF-Roger Entrepreneur

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    I’ve made millions by trading penny stocks and teaching my students how to do the same, but what a lot of people don’t know about me is that I was a philosophy major in college. My career has obviously taken me in a different direction, but the one thing that’s always stuck with me from my studies is Plato’s famous “Allegory of the Cave.”

    Here’s how Wikipedia sums up this popular thought experiment: “Plato has Socrates describe a gathering of people who have lived chained to the wall of a cave all of their lives, facing a blank wall. The people watch shadows projected on the wall by things passing in front of a fire behind them, and begin to designate names to these shadows. The shadows are as close as the prisoners get to viewing reality. He then explains how the philosopher is like a prisoner who is freed from the cave and comes to understand that the shadows on the wall do not make up reality at all, as he can perceive the true form of reality rather than the mere shadows seen by the prisoners.”

    For so long, most of us have had the same old “financial wisdom” shoved down our throats. We’re taught really early on to buy and hold blue chip stocks for the long run, and to diversify our portfolios until we’ve achieved some mythical perfect balance.

    Read more The Biggest Barrier to Wealth Is Your Self-Limiting Beliefs
     

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