Concentrate your efforts or spread your net wide? The wisdom to know when and where to apply each principle - Part 2 of 2
Alice and Jane, while coming back from school, both met a strange looking man who later turned out to be a renowned financial analyst. He told them he had information that would make them millionaires in less than a year, so they begged him for this information, after much pleading by the girls, the analyst finally told them "one coin out of the top 50 coins by market capitalization will explode by over 300,000% in the coming months!"
They all parted ways, with the girls thinking of the best way to utilize this information. Now Alice spent the next few days researching about the top 50 coins by market capitalization, and when she was satisfied by her research, she took the $1000 she had saved in her piggy bank over the years and bought coin A with it. Jane on the other hand took out her own piggy bank savings of also $1000, divided it into 50 parts, and bought all 50 coins by market capitalization with $20 each!
One year later, Alices' $1000 had given her a return of $1600, a good return, but quite disappointing compared to what she had expected as returns based on the knowledge gotten from the analyst and her own research.
Let's see how Jane faired. Jane didn't become a millionaire, but her $1000 spread over 50 coins was now worth over $70,000!
Turns out the analyst was right, coinX did do a 300,000% increase in value, and this was obviously among the coins bought by our smart little Miss Jane.
Sometimes you don't really need all those complicated analysis, big data, or even too much thinking in certain situations, what you simply need is casting your net wide, and like in the previous article, wisdom is what you require to know what situation you should apply this principle. Alice did her homework, made all the seemingly right moves, and finally made what seemed to be the best decision, but it turned out she was wrong, and there was no going back to retry. Meanwhile Jane had the wisdom to know that she doesn't necessarily had to make one million dollars outrightly, if she could turn her $1000 to $60,000, then that's still a huge will for her, this is wise thinking right there! So when presented with an opportunity today, try to ask yourself "What is the smartest way to take advantage of this opportunity", the answer to that simple question might just be the stroke of good fortune you've been searching for all your life!
If you missed the first part, here's a link to catch up on it Part 1
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My name is Edwin and I love to write about topics I'm passionate about, you can read more about me in my introduction post . I am a passive participant in the archaic social media platforms, but if for some reason you're interested in connecting with me there, then these are my handles Facebook And Twitter
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