Reposted from “Stockfessor”
Truths are usually learned through observation, reasoning, and experience, not by remembering what an expert or authority says. We all suffer from B.A.D. syndrome (blind, amnesia, deaf). So many things can prevent us from learning a good lesson. Even after we have learned from seeing and hearing, we tend to forget. So be on guard all the time. The butcher does not try to feed you by selling you meat. He only tries to feed himself. The same is true for any business dealing (Adam Smith). The world is never fair. It may be fairer in some cases than others. If you want more fairness, insist on more transparency. When people short-change you, they want to do it in the fog, behind closed doors, or in the fine prints. If you want more transparency, insist on simplifying procedures, rules, red tapes, and technical details. People tend to get immersed in those complicated things and forget to ask what is good for them. Laws are never sufficient and are broken all the time. Laws are usually written or influenced by the rich and powerful for their own benefit. Don’t assume that the laws provide you with automatic protection, especially in financial matters. You need to protect yourself with your own smarts. Most contracts or agreements between a company and a consumer are less than fair. Take a look at insurance policies, loans, credit card rules, investment funds, leases, lawyer services, hospital care, and so on. Do you have the time to read all those fine prints in the contract? Even if you do, do you really understand what they mean for your benefit? “A crisis is a terrible thing to waste.” (Paul Romer, economist at Stanford) You become a smarter person the moment you recognize that you are not that smart.
http://www.informedtrades.com/blogs/tekmnd/
