The single most important thing when making any investment

Hi Everyone!


Those of you who know me know that I rant and rave about the ability to make good decisions as the determining factor for success at everything. I think even those of you who don't know me have read it here at some point. The belief that good decision making is the major deciding factor in your loss or victory.....I do want to point out that good decisions are the major factor of only your actions that contribute to your success, you can't control what you can't control.

The factor that changes decisions is information. When I was buying my first house, I wanted to place an offer on a house but my agent said they seller wouldn't accept at the price I wanted to offer. I'm a firm believer that saying I'd pay X is a lot different than showing up with X saying, let's make a deal. Ultimately, my agent refused to make the offer I wanted. I fired that agent. I later talked to my mortgage guy who happened to be her boyfriend so he of course defended her saying that there was another offer for more money than my offer. That made me more upset and I was certainly firing the agent after that because I didn't have all the information. I'm the decision maker, I should have all the information don't you think?

There are numerous problems with my home buying situation, The most glaring that I didn't have all the information from the person responsible for collecting information for me. The next problem is that she made her decision not to tell me on the other offer based on what the selling agent said. Let's consider the source of the "other offer" information. The source is someone who benefits from lying. I may make a higher offer so they can look good to the seller and present multiple or better offers.

Why am I telling this story? I'm telling this story because when I was in college I had a friend who was capable and smart. He got good grades and got a good job after college but he couldn't accurately determine the credibility of a source (yes, he owned more infomercial products than anyone I've ever met).

I can go on about him for pages, much longer than anyone would care to read, but the point is that he couldn't properly determine credibility. The single most important thing I do when getting any financial information regarding Magic Online investments is look at how credible is the information.

I have found that the majority of information is one of two basic types. It's either wildly unreliable, or it's wildly cynical and is information saying that no one is giving good information and they know it's bad and are doing it on purpose or it actually is bad information. I agree that the majority of information is bad regarding Magic Online finance but I don't think it's on purpose. I think a lot of people go with their "gut" instead of analyzing the data.

Just remember to always use your best judgement when determining the credibility of secondary information. If you aren't good at determining credibility or don't want to determine credibility there is another option. This is to collect your own data.

Collecting your own data takes a lot of time, is difficult to do correctly, and most people can't do it alone but it does give perfectly accurate information.

Anyway, as I say, remember it's important to think for yourself and make your own decisions when making investments.