Monday 29 July 2019

What is Financial Education(2) : CHOOSE YOUR TEACHERS WISELY


Disclaimer : I wrote this article after reading <<Why The Rich Are Getting Richer>> by Robert Kiyosaki, so I referred to the book a lot.



Today let's continue to talk about the important aspects in REAL FINANCIAL EDUCATION.


Previously,

I mentioned that the first important aspect is "ATTITUDE".
(LINK: http://thecellist-investment.blogspot.com/2019/07/what-is-financial-education1-attitude.html)

Now,
the second important aspect would be "CHOOSE YOUR TEACHERS WISELY".

HUH?
What??
We need to learn how to choose a teacher?

YES!
OF COURSE!!!

Just take a look at ourselves,
from as a child until now,
we had how many chance to be able to choose our own teacher?
We have how many experience of choosing a teacher?

Especially during our time in school,

all the teachers were arranged by the school,
we had ZERO CHOICE.

Thus,

we ended up graduating from school without knowing how to choose a teacher,
and came to this society which full of all kinds of different "TEACHER",
do we really have the ability to differentiate and know how to choose a TEACHER wisely?

Frankly speaking,
I personally think that it is inhuman to take away the rights of the students in choosing their own teacher during school time.

This is because there are so many teachers in the world,
thus the quality of the teachers are definitely different,
and different teacher might be suitable with different student.

Some students are not doing good at school thus being labelled as "stupid",
but maybe those students just didn't have the chance to meet the teacher who is suitable for them?
Didn't we heard before that some students having better result after meeting the suitable teacher?

"Being not able to choose your own teacher" which I think is one of the lacking of today's education system.

That's why,
I personally think that the concept of KHAN ACADEMY is very good.

I remember that I watched one of the TED TALK by the founder of KHAN ACADEMY,
one of his purpose is to have the top teachers in the world to upload their teaching video at internet,
so that all the students will be able to choose the video by their favorite teacher to watch.

Thus,
students will be able to choose their own teacher instead of letting the school to assign them an unsuitable teacher.

SO...................
What this has to do with INVESTMENT?

As you can see,
nowadays there are a lot of "investment guru".

HOWEVER,
how many of the gurus are actually teaching about investment?
How many of them are just salesman?
How many of them are just trying to persuade you to hand over your money to them?

Before you decide to follow a certain investment guru,
did you spend time to study the investment background of the guru?
Is there any possibility that the guru is just a "lucky winner of rock paper scissor game"?

You might ask,
what is "lucky winner of rock paper scissor game"?

Okay,
first we gather ten thousand people for a "rock paper scissor game" contest,
at the end definitely there will be a champion.
The question is...............
is the champion really good at "rock paper scissor game" or he was just lucky?

In terms of probability,
we are "NOT SURE".
We can't conclude anything about the champion by just one contest only.

The problem now is,
after the champion won the contest,
he started to publish his book <<How I defeat 9999 people in rock paper scissor game>> and even started to held classes to teach about how to win in "rock paper scissor game",
he started to gain a lot of supporters and followers.

In order to truly find out whether or not the champion won the contest because of pure luck,
we have to let the champion to join a few more "rock paper scissor game" contest,
if every time also the champion won,
then only we can conclude that the champion is really good at "rock paper scissor game" and not because of luck.

THUS,
we need to know how to analyze whether the guru is actually really good at investing,
or the guru just had a good luck in buying a shares which the price skyrocketed.

It is very important to choose a teacher wisely,
because our mind is the most important asset.

Thus,
we have to be careful when trying to install any teaching into our mind,
and do not let our mind be controlled by the "FAKE GURU"!

So as to investment,
so as to other aspects of life.

The 2nd important aspect of Financial Education,
is "CHOOSE YOUR TEACHERS WISELY".

I will talk about the third aspect next time.

Thanks for reading.

I don't provide any buying/selling suggestion above,
please make your own investment decision and be responsible with it.

List of articles of year 2018






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