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The Rules of Wealth, 3rd Edition by Richard Templar

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RULE 54

Don’t pick stocks yourself if you don’t know what you’re doing

The Rule after this one is about investing in the stock market. But before you go there, I should just point out that the next Rule may not apply to you at all. You might be better off skipping it altogether. If you don’t really, truly, know what you’re doing, you shouldn’t be playing the stock market. Basically this Rule is about whether or not you should read the next Rule.

It’s all very well saying that no one should invest in the stock market unless they know what they’re doing. How on earth can you do it for the first time then? Isn’t it like having a baby or sky-diving – you just have to learn as you do it? Well, yes and no. You see there are people who know what they ...

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