Ignore this Classic Business Law or Follow Your Instincts? - page 2.

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Quote from: alastantiger on June 29, 2023, 02:55:21 PM

I attended a business seminar where a facilitator a renowned professor, and Entrepreneur shared a story on how he missed out on investing in a small fintech start two years ago which as at today is worth $500 million. He said the team had approached him to make an a investment in the start but because he did not understand how the were going to make money since he didn't invest the $100k he wanted to write them. Today, he would have been $7.5million richer had he invested.

They say do not invest in what you do not understand which was largely the principle the speaker adhered to but what if despite not immediately understanding the business model and its profit making model yet your business instinct pushing you to invest. What should you do? Listen to the former or follow your instincts?

Still follow your own risk assessment.

Even if you don't know yet the business model and how it's going to make profit, study and give yourself maybe a few couple of days to a week or two before you decide to invest your money on it.

You're not required to gamble everything and you still need to make analysis before you'll fully entrust your money to any investment, whether in crypto or startups.

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Quote from: alastantiger on June 29, 2023, 02:55:21 PM

I attended a business seminar where a facilitator a renowned professor, and Entrepreneur shared a story on how he missed out on investing in a small fintech start two years ago which as at today is worth $500 million. He said the team had approached him to make an a investment in the start but because he did not understand how the were going to make money since he didn't invest the $100k he wanted to write them. Today, he would have been $7.5million richer had he invested.

They say do not invest in what you do not understand which was largely the principle the speaker adhered to but what if despite not immediately understanding the business model and its profit making model yet your business instinct pushing you to invest. What should you do? Listen to the former or follow your instincts?

Sometimes it's true but don't completely trust your instincts because it's not completely true and you have to trust it, so I think there should be a balance between instinct and also some knowledge before investing.
if you only rely on instinct in investing then it's the same as we just hope for luck, the success rate will be very small so I think it's better to balance it.

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Quote from: alastantiger on June 29, 2023, 02:55:21 PM

I attended a business seminar where a facilitator a renowned professor, and Entrepreneur shared a story on how he missed out on investing in a small fintech start two years ago which as at today is worth $500 million. He said the team had approached him to make an a investment in the start but because he did not understand how the were going to make money since he didn't invest the $100k he wanted to write them. Today, he would have been $7.5million richer had he invested.

They say do not invest in what you do not understand which was largely the principle the speaker adhered to but what if despite not immediately understanding the business model and its profit making model yet your business instinct pushing you to invest. What should you do? Listen to the former or follow your instincts?

In case you don't understand something, listening to our instincts is a good alternative and we don't have many other options. The best solution would be of course to study and understand their business concept, but this could take time and some companies are looking for shortterm financing. 100k USD is a huge sum of money at least for me and I would probably not invest it only on my instincts. There are so many startups out there that are looking for seed capital and especially in the tech sector it will be hard to understand all the new ideas they are trying to sell. We shouldn't feel bad about missed out opportunities, because there will always be another chance to make money. Also looking back at one successful business that became a multi-million-dollar investment lets us forget about all the other companies that failed in the meantime. Looking backward in time at one successful event is not very helpful, it’s like saying why didn't I pick the right lottery numbers last week.

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Quote from: alastantiger on June 29, 2023, 02:55:21 PM

I attended a business seminar where a facilitator a renowned professor, and Entrepreneur shared a story on how he missed out on investing in a small fintech start two years ago which as at today is worth $500 million. He said the team had approached him to make an a investment in the start but because he did not understand how the were going to make money since he didn't invest the $100k he wanted to write them. Today, he would have been $7.5million richer had he invested.

They say do not invest in what you do not understand which was largely the principle the speaker adhered to but what if despite not immediately understanding the business model and its profit making model yet your business instinct pushing you to invest. What should you do? Listen to the former or follow your instincts?

Investing in a start-up company, especially in fintech, is very similar to investing in a casino, especially if you do it without knowledge and just for a hunch. There are thousands of such companies every year that start, raise money from investors and end up going bust. It is similar to investing in shitcoins: I am sure that next cycle some shitcoin will make 1,000. The problem is to guess which one. You can lose a lot of money trying to guess, and in fact, you are most likely to lose it.

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Quote from: libert19 on July 10, 2023, 10:41:58 PM

Following instinct is wiser, however usually human minds are so muddled we often do not recognize them.

Instincts don't always work in your favor and you can face great losses sometimes only because of your instincts, so it's better if a person follows a business strategy instead of following their instincts and losing money. And this is not only about cryptocurrencies or trading, but it is about all the businesses that exist in the world, you should never start doing a business only because your instincts say that you will find success in it but you should think it through.

A business cannot be successful without doing anything, you need to first analyze the market you are about to start a business, and then you will need to evaluate your chances of getting success based on your budget and planning and everything and then you should go ahead with it.

Joshapat

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Life is always a mystery, in business of course it is ridiculous if we put money in a place we don't know, it doesn't matter if we lose the opportunity to become millionaires because we miss a business offer, the reverse story of course also often happens when someone is grateful not to invest in an investment that ended up being a scam so he was able to save millions of dollars.

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I do not risk what I do not understand, but at the same time I listen to people whose expertise and experiences I trust. Perhaps I do not understand this work, but I have a friend whom I trust and whose advice I can listen to.

It is not necessary for a person to understand all areas of investment, there are many things that we do not know, so we must listen to others who we trust.

There are many opportunities in life, and sometimes opportunities come from places we never expect, so we have to be alert to take advantage of these opportunities when they come.

xSkylarx

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This is hard because that is huge money, and you should be cautious because, for sure, you are investing in a company that is sure to profit. That situation is rare because not all the time those start-up companies will be that big unless they have a really promising company that has its own uniqueness. The problem with that is that he is only basing his decision on its model and plans, which for sure indicate that the start-up company is still struggling, but if he looks at the bigger picture, like whether the company is promising, then for sure he could give it a try.

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I believe the options are not only limited to avoiding what you don't understand and following your instinct. If you are in doubt over something you don't understand, is there no way to resolve that doubt before making any decision?

In the example by OP, is it not possible for the professor to request for an overview of what the project is all about? After all, he's been approached to invest. Those who approached him will probably be more than willing to explain to him in details what the business is.

In addition, he could always do some research. He could consult certain people who have the knowledge about fintech.

SmartGold01

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First as an investor if such businesses or a start project that has no feature approaches them to invest, well, if they planned of investing with the sum of $100k as you said, it would be better for person to half the money maybe using around 10 to 20 percent to gamble with that business having the mindset that whatever may happened but let it no be as if he is left behind.
Taking bold step to risk $100k and then decided to gamble with $20k since he doesn't know about the business model and concept is fair enough for a starter, so as individual or major investors who knows what would likely happened to any startup project will at least risk some little percentage of money to invest in that project without waiting for the project to make a big name first.

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Quote from: alastantiger on June 29, 2023, 02:55:21 PM

They say do not invest in what you do not understand which was largely the principle the speaker adhered to but what if despite not immediately understanding the business model and its profit making model yet your business instinct pushing you to invest. What should you do? Listen to the former or follow your instincts?

I would follow the advice of not investing on something that I do not understand. It is more likely that I will lose money than earn one. Besides it is a common approach to know what we are getting into, reason why there is always advice to research thoroughly before investing. Whether it is the concept or trust in the developer's capability, we must know all the information about the whole project, which includes the goal and plans and the people behind the project.

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Quote from: alastantiger on June 29, 2023, 02:55:21 PM

I attended a business seminar where a facilitator a renowned professor, and Entrepreneur shared a story on how he missed out on investing in a small fintech start two years ago which as at today is worth $500 million. He said the team had approached him to make an a investment in the start but because he did not understand how the were going to make money since he didn't invest the $100k he wanted to write them. Today, he would have been $7.5million richer had he invested.

They say do not invest in what you do not understand which was largely the principle the speaker adhered to but what if despite not immediately understanding the business model and its profit making model yet your business instinct pushing you to invest. What should you do? Listen to the former or follow your instincts?

Really hard to make up choices if ever there's a situation which those inside voices or instinct would really kicked in. You would really be having that boggled mind on the time that this situation comes.
We are talking not a small amount of money to be invested and this is the main reason on what we do mind that its not something that we could just easily grant or invest into something without doing that actual research.
Of course we would really be trying out to follow on whats on the books about those preparations and other factor checking and if those things are on checklist then you might considered but if not?
But still you do miss out that big opportunity for you to make yourself rich or make profits on how many folds then it would really be living out that kind of regret which is something

that you cant really forget for the rest of your life. You might forgotten it but it would be temporary and you would really be keeping on coming back on telling that you should have invested on that time
but well past is past and there's no way that we could return the time.

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Quote from: justdimin on July 13, 2023, 01:08:38 AM

Quote from: Fortify on July 12, 2023, 02:22:34 AM

It feels like people go through many different stages and evolutions of their business knowledge. When I first got into investing many years ago, it felt very hard to focus on specific things I should be looking at when evaluating a business and it was so easy to get deluged by the vast amounts of information on display. However you learn over time what to look at and develop your own strategy, it helps in speeding up your decision making process. It's definitely better to avoid situations that are time sensitive and you feel pressured into an investment that you're not confident in.

That is the reason why most of the big trading companies have analysts, because they rather have all the information they need brought down to a few stuff so that they would know if they should buy something or not.

There are thousands of lines of work to read on stocks, and not everyone can constantly keep reading that, so instead of having 500 people constantly reading something, they have 100 traders and 1000 analysts that helps them, that way it's more efficient and they can constantly check what's going on and trade accordingly. Not all of them are like that, but major ones do have that type of employee. Hell even law firms have paralegals for example to help them go through stuff, that makes the job a lot easier. We are all alone, it's harder for us.

The concept of "division of labour" is central to contemporary economic structures. Why spread your efforts thin when you can concentrate them like a laser beam and accomplish more? Analysts condense data into actionable insights that empower traders to do what they do best: trade. However, one must bear in mind that the mere presence of facts and analysis does not ensure sound judgement. Knowing when something is important is the skill. It's kind of like when you watch the whole game instead of just the highlights. Don't forget the value of a tailored newsfeed and other information sources in your solo travels. You could perhaps locate your online 'analyst' in this age of unprecedented global connectivity. It won't be simple, but it's not impossible, either

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Quote from: Fortify on July 12, 2023, 02:22:34 AM

It feels like people go through many different stages and evolutions of their business knowledge. When I first got into investing many years ago, it felt very hard to focus on specific things I should be looking at when evaluating a business and it was so easy to get deluged by the vast amounts of information on display. However you learn over time what to look at and develop your own strategy, it helps in speeding up your decision making process. It's definitely better to avoid situations that are time sensitive and you feel pressured into an investment that you're not confident in.

That is the reason why most of the big trading companies have analysts, because they rather have all the information they need brought down to a few stuff so that they would know if they should buy something or not.

There are thousands of lines of work to read on stocks, and not everyone can constantly keep reading that, so instead of having 500 people constantly reading something, they have 100 traders and 1000 analysts that helps them, that way it's more efficient and they can constantly check what's going on and trade accordingly. Not all of them are like that, but major ones do have that type of employee. Hell even law firms have paralegals for example to help them go through stuff, that makes the job a lot easier. We are all alone, it's harder for us.

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Quote from: Fortify on July 12, 2023, 02:22:34 AM

Quote from: alastantiger on June 29, 2023, 02:55:21 PM

I attended a business seminar where a facilitator a renowned professor, and Entrepreneur shared a story on how he missed out on investing in a small fintech start two years ago which as at today is worth $500 million. He said the team had approached him to make an a investment in the start but because he did not understand how the were going to make money since he didn't invest the $100k he wanted to write them. Today, he would have been $7.5million richer had he invested.

They say do not invest in what you do not understand which was largely the principle the speaker adhered to but what if despite not immediately understanding the business model and its profit making model yet your business instinct pushing you to invest. What should you do? Listen to the former or follow your instincts?

It feels like people go through many different stages and evolutions of their business knowledge. When I first got into investing many years ago, it felt very hard to focus on specific things I should be looking at when evaluating a business and it was so easy to get deluged by the vast amounts of information on display. However you learn over time what to look at and develop your own strategy, it helps in speeding up your decision making process. It's definitely better to avoid situations that are time sensitive and you feel pressured into an investment that you're not confident in.

This happens on almost every field of knowledge, at the beginning I had a lot of problems to tell when a project was a scam, however as time went by and I learned more about this market my skills in that regard increased as well, which is what allows me to see that almost all of the coins being created every single day are scams, something which discouraged me and that eventually led me to stop being interested in the altcoin market.

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Quote from: alastantiger on June 29, 2023, 02:55:21 PM

I attended a business seminar where a facilitator a renowned professor, and Entrepreneur shared a story on how he missed out on investing in a small fintech start two years ago which as at today is worth $500 million. He said the team had approached him to make an a investment in the start but because he did not understand how the were going to make money since he didn't invest the $100k he wanted to write them. Today, he would have been $7.5million richer had he invested.

They say do not invest in what you do not understand which was largely the principle the speaker adhered to but what if despite not immediately understanding the business model and its profit making model yet your business instinct pushing you to invest. What should you do? Listen to the former or follow your instincts?

It feels like people go through many different stages and evolutions of their business knowledge. When I first got into investing many years ago, it felt very hard to focus on specific things I should be looking at when evaluating a business and it was so easy to get deluged by the vast amounts of information on display. However you learn over time what to look at and develop your own strategy, it helps in speeding up your decision making process. It's definitely better to avoid situations that are time sensitive and you feel pressured into an investment that you're not confident in.

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Quote from: dansus021 on July 11, 2023, 09:20:27 PM

Quote from: wxa7115 on July 10, 2023, 09:52:16 PM

So a balance must be reached, most of the time we need to avoid investing in assets we do not understand, however if we see that a particular asset has tremendous potential then we can take the risk and invest in it, even if we do not fully understand it, as this could be the opportunity that we have been looking for to obtain massive profits.

Yes Indeed It must be balanced

After all nowadays looking for information is easy. and learn about investment is everywhere literally everywhere from social media like youtube Instagram or TikTok to blog post and book the information is public or we can pay an expert to take an investment lesson.

Or just like me invest in both way Grin

classic investment like stock and mutual fund and modern investment like cryptocurrency

With the internet we can find and access information more easily,
it's just how we really want to learn or not because it all depends on ourselves,
there are many platforms that we can use so there is no excuse.

Pierre 2

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I never trust my instincts when it comes to classic investment schemes. Yeah when you think about some business seems profitable, and you are informed, you will be generally proven right. But human factor should always be considered within these investment possibilities. Ideas may sound right but people may have bad intentions, or they may be just lazy ones, or they may not be good at handling issues (if happens). 100k usd is something very big for me, I would not blindly invest it.

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Quote from: wxa7115 on July 10, 2023, 09:52:16 PM

So a balance must be reached, most of the time we need to avoid investing in assets we do not understand, however if we see that a particular asset has tremendous potential then we can take the risk and invest in it, even if we do not fully understand it, as this could be the opportunity that we have been looking for to obtain massive profits.

Yes Indeed It must be balanced

After all nowadays looking for information is easy. and learn about investment is everywhere literally everywhere from social media like youtube Instagram or TikTok to blog post and book the information is public or we can pay an expert to take an investment lesson.

Or just like me invest in both way Grin

classic investment like stock and mutual fund and modern investment like cryptocurrency

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Quote from: Synchronice on July 11, 2023, 02:40:40 AM

Quote from: alastantiger on June 29, 2023, 02:55:21 PM

I attended a business seminar where a facilitator a renowned professor, and Entrepreneur shared a story on how he missed out on investing in a small fintech start two years ago which as at today is worth $500 million. He said the team had approached him to make an a investment in the start but because he did not understand how the were going to make money since he didn't invest the $100k he wanted to write them. Today, he would have been $7.5million richer had he invested.

They say do not invest in what you do not understand which was largely the principle the speaker adhered to but what if despite not immediately understanding the business model and its profit making model yet your business instinct pushing you to invest. What should you do? Listen to the former or follow your instincts?

That do not invest if you don't understand is good and bad advice at the same time. A lot of people have invested in bitcoin without understanding what it is but they all have succeeded. Definitely, Bitcoin is an innovation and there is just no chance to miss profit by investing in it, that really was the case back in 2016. But I agree with that one, it's never bad to truly understand what you are investing in but one should never miss opportunities like Bitcoin and Ethereum had and still have.

It's really hard to give away really beneficial advice because future is so unpredictable. I would really be upset if someone has told me to not invest in Bitcoin because I don't know what it actually is. Sometimes instincts win.

I don't consider that bad advice. People who invest in bitcoin but don't understand what it is, but they all succeed because luck chose them. And are you sure that luck will come to you? Meanwhile, the people who are dumping bitcoin and losing money investing in it mostly don't understand bitcoin, and do you think instinct is helping them or making them worse? Even if we are knowledgeable, there is no guarantee that we will succeed when investing in bitcoin, let alone that we have no knowledge and just instinctively invest.

Topic: Ignore this Classic Business Law or Follow Your Instincts? - page 2. (Read 628 times)