When is “No way is way”? (The Financial Athlete #98)

Bruce Lee famously said, “No way is way.” This was a revolutionary message for the legions of people who blindly accept all second-hand knowledge. But before he pioneered a new way, he vigorously studied traditional styles of martial arts. All refinement is built upon a foundation of the tried-and-true.

It is foolish for an investor to venture into new approaches of investing without first establishing a base of the tried-and-true ways. Experiment only with “play money”, never with money allocated to meet expenses and money set aside for an emergency. This money is the froth, above the bulk invested for purpose of generating reliable cash flow.

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to be a revolutionary
be a scholar of the old ways before blazing a new trail in the
wilderness of life
question and think beyond what you have been told
learn from direct experience.
combine ideas not previously combined
refine and refine what works, discard what doesn’t work
to create a new solution redefine the problem
risk ridicule and failure and repeat failure
dare to be original
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