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Monday, September 17, 2007

1870's stock market simulation

To me I did not seem like a very successful business man because I thought I could have done better. I always made a stupid mistake which caused me to have to buy high spend low.
I think out of all the advice that you gave us, the one that applied to me the most is "You need to spend $ to make $." Although this seemed very obvious in the beginning it really was quite helpful. In the beginning I was reluctant to let go of large sums of money, afraid that if it did not work out I would go bankrupt but, eventually it hit me that if I don't spend the money I have I will not make as large sums as I would have if I had spent large sums.
Now that was the one that applied most to me but I have one thing to say about another piece of advice that you gave us. You said not to 'put all of our eggs in one basket' and you meant don't buy all of only one company, right. Well later when Lucas and I asked you how to get such a high amount as $10,166, you told us to put all of our eggs in the basket with the largest percentage of profit. This means that that piece of advice is false and not advisable.

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