I was listening to The Investors Podcast recently when I heard an investment guru give excellent advice in response to a question about how people should act in the face of so much potential trouble in the world.
The guru advises people to be like a biscuit maker in Portugal, who only focuses on making and selling biscuits, and whose only worry is selling more biscuits than the guy down the road. The Portuguese biscuit maker never worries about North Korea, Donald Trump, interest rate moves, a stock market bubble, central banker comments, or anything else. He just makes biscuits.
This was great advice b/c all too many business owners and investors alike are too likely to get caught up in all the worries surfacing daily in the news. Many people get so caught up that they sit on the sidelines too long, fail to act and miss opportunities altogether.
Another podcaster we love, James Altucher, has blogged about this topic several times as well, pointing out how time and again all the doom and gloom predictions never come about. This is why he ignores mainstream news altogether. Author, X-prize founder and entrepreneur Peter Diamandis is another person in this camp.
To quote Mark Twain: “I’ve had a lot of worries in my life, most of which never happened.”
Anyway… just make biscuits.
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