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Preparing For The Next Economic Crisis
[youtube=http://www.youtube.com/watch?v=bZGpWTS8guA&feature=g-u-u&context=G24cd400FUAAAAAAAHAA] I have never lost money in an investment in my entire life. Not one penny. I'm serious. I haven't. I have lost money in business, on business deals that went south, on marketing efforts that failed, things like that. Losing money is part of capitalism and part of business. (Or at least it's supposed to be.) But investing? Nope. My investments are usually very boring, simple, and conservative. Rarely to they make a huge return. But I never lose money, ever. I've been through three big recessions as an adult so far (1990-92, 2000-01, 2008-10) and my money has remained safe. One of the reasons for this is the guy in this video, Harry Dent. While I don't agree with everything he says most of what he says has been spot-on for decades now. Even when he says some crazy stuff, I still listen and at least consider what he's saying. He's trying to sell something in the video above but most of the video is some excellent information on the economy. If you have investments, I suggest you listen to him and keep an open mind. Coincidentally, George Soros, a self made billionaire who knows a little about money and the economy, just came out this week and said pretty much the same thing Harry is saying here. For the last ten years I've invested heavily in gold, well before it became the "cool thing" to do, and I've done well with it. (My gold profits actually funded my divorce a few years ago. 😀 ) However because of the information I keep seeing about likely deflation, I will probably get completely out of gold soon and into something else. Haven't made any solid decisions yet but that's the direction I'm going. We'll see.
This article was originally published on January 28, 2012