If I approached a fly for consulting about how to survive winter, it would say, “What is winter?”
If I approached a robin, it would say, “You don’t have to change much. It’s just going to get cold. We had some snow days last year but hardly nothing this year.
“If I approached a coyote, it would say, “This winter is mild and our food is easy to find. Don’t be fooled. Stay quick and improve your hunt because some winters will pile up several feet of snow and food is found only by the skilled and the strong.”
Similarly, we humans must consider with whom we are consulting for investment and financial guidance. In the money world, there are flies who don’t know what an economic crisis looks like. There are robins who have been consulting a few years and have only seen mild economic fluxes. Then there are coyotes who have more rounded experience having lived before, through, and after the last huge drop.
I have heard mediocre and horrible advice from young guys who have been in their consulting careers for less than 12 years and have no experience how to prosper in an economic crisis. They have only worked in propped-up market conditions. They think the formula they memorized is good for all seasons with maybe a tweak here and there they read about in a textbook. They think they have it all figured out.
(Yep, I’m starting to sound like an old person.)
Who remembers 2005 and 2006 when houses were selling themselves within days or hours of being put up for sale? I lost count back of how many people I knew who became real estate agents then and thought the sales happened because they were “so good” at selling. Fast forward two years and the realtor population dwindled down fast, leaving only the vets and those truly passionate about real estate to maneuver through an economic famine.
A big thing is coming. Prep yo self befo’ you wreck yo’self. And remember… whether desiring improved money, business, health, relationships or any kind of skill, take into consideration whose advice you are considering.