1. People must have had at least 3 successes in a specific sector in order to be defined as authoritative.

2. People should be able to explain properly in a logical way, the correlations between behavior and success.

Now I challenge you to find a friend to ask for an opinion.
That’s why you need to stop doing it. Especially if the opinion refers to money because you risk becoming poor (if he is poor or if he cannot explain like a scientist the correlations between his behavior and his success… and almost nobody knows how to do it).

What to do then?

You may think that at this point it is enough to take a book written by a millionaire and magically you become a millionaire too; after all, we read about people who are successful and know how to explain success. Theoretically, they don’t break the previous principle, right? Well, they break it too!

Of course, it’s better to read a millionaire’s book than to ask an unsuccessful friend.

But there is another principle (which few people know) that can be seen by everyone, but hardly anyone catches it.

THE PRINCIPLE OF UNIQUENESS

Imagine that there is a share of a company whose value is 10.

Now let’s assume everyone says it’s a bargain and you should buy it. The problem here is that everyone says it, so many will do it.

At that point, the value will be 20 and it will no longer be convenient to buy it!

The more people talk about it, the more the price will rise (is the law of supply and demand.)

Lately in Italy they are talking about online business (selling video courses) as if it is the future of the economy (I know we are not as developed as in the US when it comes to these things, maybe soon we will start talking about Bitcoin too); the problem is the same. The more people talk about it, the more competition it will create, and it will become less convenient.

That’s why the big billionaires don’t reveal their techniques! That’s why those public books you read often make you look like a fool because thousands of other people who will buy that book will do the same thing.

And because everyone does it, it doesn’t work anymore.

The solution? It’s okay to study but you have to use your BRAIN, you have to THINK WITH YOUR HEAD and stop asking others what you have to do.

They know less than you what they have to do, trust me. You have to…

BE THE FIRST TO DO SOMETHING.

When Warren Buffett walks into a bank, people start celebrating.

He is the only one who can have something you have never seen before. Maybe low-interest rates, or access to private sales to buy a company’s shares before they go public.

Because he’s Warren Mega Buffett!
Even if you COPY him, you’re just doing what he did before you, and you’re buying his same stock at a much higher price than he paid.

SO YOU HAVE TO DO SOMETHING DIFFERENT. Or you will buy at the price he decided. Whether you are talking about money or not, I recommend that you invest or focus on something small, or something that people at the top are unable to see.

Another thing..

WHEN YOU WANT TO IMITATE THEM OR TAKE A CUE FROM THEM, DON’T DO IT

For two reasons:

I have already told you the first reason.
If Warren buys at 5, the stock goes to 22 and when you get there you will be forced to buy it at 22, and he didn’t do that!

Warren is an example, but this example holds true in every area of life. Even if your friend got a promotion and you didn’t. It’s the same.

The rich often invest a small part of the capital, 2% for example, just to make a bet, but their 2% maybe corresponds to 20 million.

To do like them, you too would have to put 2% of your assets, but the problem is that this may correspond to $200.
It’s not quite the same. 😉

And that’s why I often see a lot of people doing ALL IN, in particular or high-risk industries, just because someone rich says that (often tech) industry is going to be the future.