“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”
Hi There Wealthy Affiliate Family!
I wanted to bring to mind Warren Buffet's quote about being "fearful when others are greedy", but what does it mean? And how can it help us?
As you may know, Warren Buffet is a philanthropist, and wildly successful self-made business man - one of the richest people in the world.
He's worth about $87.5 Billion, and that's a-lot of success!
He made most of his money investing in shares and his quote underlined his investment strategy.
Most people see a stock going up in price and only then buy into that rising stock from fear of missing out (FOMO). Quite often they've got into the action too late. Their shares peak a little, then drop, leaving them with a loss.
However Warren's strategy was to invest in shares that showed promise at a low price, whilst others were afraid they wouldn't deliver. So he was "greedy when others were fearful".
And once the share's rise, he's in the money!
But he also got afraid when others were greedy, as sudden price rises can trigger investors to sell for quick profits, causing a price drop.
So he'd take his profits before the stock got too high because he was "fearful when others were greedy".
How does this apply to WA? Well if you're in the making money online niche you may already be interested in investing in shares or crypto-currency coins like Bitcoin or Ethereum. It's also possible to make affiliate bonuses by referring customers to the exchanges where crypto currencies are traded, such as Binance for example.
Otherwise I think we can apply Warren's theory when choosing a new affiliate niche. If we can pick a niche that has little competition but shows promise for future demand, by the time the niche becomes more popular, we'll be in a good place to serve all those hungry customers.
We can get an idea of the things people are looking for by searching for those terms in Google Trends for example:
https://trends.google.com/trends/
Just my thoughts for the day - hope it helps,
Cheers,
Dave
(Please note this is not financial advice, written for entertainment purposes only).
Recent Comments
2
Great read! You have to pay attention when a man like Warren Buffet speaks, if you don't you would be a fool!
I think you have used it as a great analogy for finding that next niche, thanks for the prospective!
Cheers,
Brendon
thanks Brendon! ....my brain works in mysterious ways lol