We know nothing about money. Do you? : eupersonalfinance

(warning – sharp and controversial point of view below – but eager to learn from all of you)

Today I had a brief exchange of words with a “kind of” public personality that asserted that it was very knowledgeable about money and investing.

I am always curious about what makes people consider they are “knowledgeable” about money or even more about investing.

I believe in a forever-learning-attitude in life. I think that we never know enough and that learning is a privilege. We should always invest in education, even if we consider ourselves fluent in a particular subject. So, in general, even if I feel more confident every day on a skill, I keep educating myself about it because there’s always something else more to learn and absorb.

But money and investing, in my opinion, are even more particular and complex subjects, where I am reluctant to understand how we can be confident enough about our skills in managing it. Investing, in particular, represents a dark area where, in my opinion, no one (really) knows enough about it (I’m sorry). Some of us (and especially financial advisors) tend to use history, math, and statistics as tools and techniques to demonstrate we know all about investing and predicting the future. Those demonstrations only serve the purpose of convincing ourselves that we have reduced the risk of failure. Even though this may sound a little philosophical, I believe that sometimes those strategies only play as mere psychological safety tools. I won’t dissect that, but I tend to think that money and investing are more psychological than we believe, and math, as an exact science, can’t be applied directly to it (but I digress!)

While I continuously satisfy my curiosity earing from others their arguments like “I made 200% profit last year, so this is bullet-proof strategy”, I keep reminding myself and my “education” that past gains are not future gains. Past lessons, past or unrealized profits, and past strategies “may” mean “bullshit” about knowledge, especially in the current market, where all “educational” and “academic” models are failing because basics don’t matter anymore (do they?).

My questions to the learners and knowledgeable people in this sub are: Do you know anything about money and investing?

If yes, why? How did you learn it?

No? Do you believe there will be a time you will know enough? How?

Thanks for sharing. Keep learning.

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