Michael Lewis on How to Avoid Bankruptcy

[pretorious700]

There's a saying here in Thailand about foreigners-to make a small fortune in Thailand, you must start with a large one...and it's true.

[peymaania]

Buy Precious Metals...It's a Tried and True Method. If you want Preservation, Go for Gold.

[NotSoOldHippy]

He's a Scientology crook. The fucktard conman knows nothing about money other than to swindle it from rubes, marks, and suckers and hand it over to his crime boss David Miscavige.

[TheLifeImprovement]

This video is pretty interesting, does that make me a nerd? We might be able to work together. I help people who have file bankruptcies get a cash settlement

[NassimHarameinVedas]

". . . Complexity is not intelligence . . ." - Michael Lewis

"Everything should be made as simple as possible, but not simpler." - Albert Einstein

In my humble but accurate opinion, this is the most important point to be derived from this.

The average person suffers from an anxiety or phobia of inferiority, by that I mean they perceive themselves to be vastly at a disadvantage and uneducated.

Some perhaps are, but more times than not, complexities deceive and rob our confidence unjustly.

[leeroynaggins]

People's main obsession with making money through trading is the lack of jobs with adequate pensions. People just feel terrified about their future...

[thesilvernymph]

We all need to go fishing.

And grow some shit from the ground.

Amen.

[prebenso]

The system is constructed to earn money on you. Its allways a problem when the ordinary people starts using a system that is constructed for a few well informed and ruthless people

[AristophanesNow]

Might be good idea to review the next question off camera. Let me offer a better answer: Stop relying on the future attainment of unearned income to make your life all nice and happy.

[PeterDickman1]

The advice is sound, but sadly at odds with the reality of modern life in the USA. The increased focus on making money from savings is to a great extent due to the reliance on 401(k)s and the undermining of health benefits. The redirection of risk from large co-insured pools to individuals and families forces amateurs to over-reach themselves in their financial dealings (or face disaster in other ways). Jacob Hacker's "The Great Risk Shift" should be read far more widely. ISBN: 978-0-19-533534-7

[zachbigthink]

Can't the reality of American life be redirected by the American people? Has financial risk-taking sabotaged the ability to affect one's own destiny?

[leeroynaggins]

@PeterDickman1

This was well said...

[creten69]

this guy is koo.I tried to perserve with peter shiff,and lost %50 in 2 months.Money is for the lost and the weak.