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Practical Lessons for Your Financial Life (Collection) by Saly A. Glassman

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Chapter 1. Rules Are Essential, but They Do Not Guarantee a Win

Have you felt let down by an economic crisis? You might if you thought you were following all the investment rules you’d been taught. You may feel disappointed, resentful, and even angry. You are in good company if you are thinking, “I followed the rules! I should have won!” After all, doing so should entitle you to a certain reward. Doesn’t following the rules protect you from losses, or at least minimize them?

Unfortunately, life doesn’t work that way, and neither does the economy. Following investment rules doesn’t necessarily mean you won’t lose sometimes. However, using the rules as a general, meaningful guideline, even if you have to be flexible at times, is wise.

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