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Dan Lok Show

Why You Should Only Invest In What You Know…

Dan Lok Show

Dan Lok

Entrepreneurship, Careers, Management, Business

4.9825 Ratings

🗓️ 2 July 2020

⏱️ 6 minutes

🧾️ Download transcript

Summary

You’ve heard it all the time, invest in stocks, invest in crypto, invest in real estate, but none of that matters. Dan FINALLY reveals and breaks down in this episode the secret principle on why you should only invest in what you know and nothing else.

Transcript

Click on a timestamp to play from that location

0:00.0

What does it mean to invest in what you know and why as a professional investor,

0:20.0

you really don't want to invest in something

0:21.6

that you don't understand.

0:23.6

Just because you saw someone making money

0:25.6

invest in certain things,

0:26.6

or your friend gave you a hot stock tip,

0:29.6

or they say they made money with this trading thing

0:33.6

or cryptocurrency or whatever it is,

0:35.6

it doesn't mean that you should put money into it.

0:38.7

You see, very often people invest in something that they don't know

0:42.7

or they don't understand is because of one word,

0:45.4

and that word is greed.

0:46.8

Because they want to get greedy.

0:48.4

They think, oh, man, I don't want to miss out the opportunity,

0:51.4

and so-and-so says a good idea, so I'll just put money into it.

0:54.2

What you don't understand is,

0:55.4

at the end of the day, it's not about a risky investment.

0:58.8

It's just like driving a car, right?

1:00.8

Driving itself, there is some risk to it,

1:04.3

because you have car accidents happening every day, right?

1:08.0

Somewhere.

1:09.9

But it's not the car that is dangerous is the driver the

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