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FitRichSane

Logo of telegram channel fitrichsane — FitRichSane F
Logo of telegram channel fitrichsane — FitRichSane
Channel address: @fitrichsane
Categories: Economics
Language: English
Subscribers: 3.08K
Description from channel

Having learnt a few tricks, we want everyone to
1) Become Healthier in 20 minutes a day
2) Become Wealthier in 1 hour a week
3) Become Wiser in 15 minutes a day
@FitRichSaneContact
hi@fitrichsane.com
Disclaimer: https://www.fitrichsane.com/disclaimer/

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The latest Messages 94

2021-06-26 15:30:02 Long ago, in a village a man appeared and said that he wanted to buy monkeys. He said that he would pay Rs 100 per monkey. The villagers caught all the monkeys in the nearby forest and village and sold them to him for a hundred rupees each. Soon another man appeared and said that he would pay Rs 200 for each monkey. But there weren't any more monkeys around. They were all owned by the first man. So the villagers went to him and said that they were willing to take the monkeys back and return his money. But the monkey owner was unwilling to sell. The villagers raised the offer price to Rs 150 per monkey, then Rs 175 and finally to Rs 199 but the man just didn't want to sell, even though he clearly didn't have any use for the monkeys. Eventually, just to see whether he would sell, they offered him Rs 200 but he still refused.

The villagers were puzzled by this. Finally, one of them figured out that there must be someone else who was going to come to the village and offer even more money for the monkeys. Convinced that this was the real explanation, they went and offered the man Rs 300 for each monkey and sure enough the man accepted. Joyous at having landed such a good deal, they quickly paid him off before he changed his mind and took possession of the monkeys. The man went away with his money and lived happily ever after. The villagers waited for the next buyer. And waited… And waited... But no one ever appeared who wanted to buy a monkey.

But wait.... If you think you've guessed the moral of the story, you are wrong because the story isn't over yet.

There was another village nearby. In this village a man appeared one day and offered Rs 1000 each for a goat. Now goats were valuable, but not as much as a thousand rupees so the villagers sold the goats to this man. A similar thing happened here too. A second man appeared, offered Rs 2000 for each goat. The villagers tried to buy the goats back from the first man but the first man refused and eventually the villagers ended up buying the goats back for Rs 3000 each. Here too, the two men disappeared and no one ever came and offered so much money for a goat again.

But there was a difference.

Goats weren't monkeys. They were easier to look after, cheaper to maintain, could be milked every day and the milk was good and healthy. Even the goat droppings could be used as fuel. The goat's hair could also be sold. When the goats eventually grew too old to be milked or died, the villagers could use their skin as leather or eat their meat. All in all, it wasn't a complete disaster.

But the monkey-owners were not so lucky. They could not be kept in the house for long. The monkeys ate too much, shouted and shrieked all day and sometimes bit people. They could not be controlled and they destroyed most of the stuff in the village. They were a nuisance to the villagers.

Eventually, when it became clear that the monkeys were worthless, their owners abandoned them and tried to forget about their losses.

And that's the Moral of the Story.

In the stock markets today, there are good companies that are overpriced and there are worthless companies that are overpriced. If you are going to be a fool and pay absurd prices because you think that a greater fool will appear in the future, make sure you buy a goat and not a monkey.

We might not get the optimum price, but buying solid performing companies is like buying a goat which gives us long term returns. Buying some companies which have a tainted past and weak fundamentals is like buying a monkey and it is a worthless bet, whatever the price.


I HAVE ALREADY SHARED THE LIST OF STOCKS THAT HAVE BEEN IN THE UPTREND FOR YEARS.
187 views12:30
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2021-06-26 12:30:12 Hi
I have been repeating a few messages I sent in the early stages of the group. Hope our senior members will bear with me. It was necessary to cover the basics for everyone. I will keep mixing new and old content, and I assure that the content will benefit everyone, including our senior members by re-enforcing those concepts
202 views09:30
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2021-06-26 09:30:01 The easiest lie is the one you say to yourself


People say things like...

“I'm too old to do this.”

“I don't think I'm good enough.”

“I don't have any experiences of coaching people.”

“Why would people listen to me what I have to say?”


These are all the bullshit and LIES that they tell themselves every single day.

They used these “reasons” to justify why they’re not doing anything or taking any actions.

They used these “reasons” to explain to others WHY they’re not successful.

They used these “reasons” to keep themselves or their family away from the dream life that they truly want.


So you might be thinking…

How can I wake myself up from these lies?

What’s the TRUTH?

The truth is...

“Your CAN improve your abilities ”

“Your CAN improve your skills”

“Your CAN improve your impact to others.”

It doesn’t matter your age or experience.

What matters is how you see your current situation.

The first thing that you need to do is you need to change your own self image.

What you say to yourself is the most important thing that you will ever say. Period.

It's not what you will say on the stage.

It's not what you say in front of others.

It’s your “inner dialogue”.

If your inner dialogue is…

“I don't think I'm good enough or I don't think I'm smart enough”

You will not never be able to do anything.

Change your inner dialogue before changing your financial life.

That’s all I got for you today.

How’s your “inner dialogue” when it comes to dealing with the day to day challenges?

Is your inner dialogue empowering or disempowering you?

And how are you planning to change it?
214 views06:30
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2021-06-25 15:30:00 Should I go for trading or investing?


Unless you have been tracking the market for years, and you understand is really deeply, stick to investing.

If a good company is chosen, profit when the price goes up.

If the price goes down, you can buy more.

This way, you can lose. Heads you win, tails you don't lose.

Every few months, check if the business is still doing well.

Get rich
94 views12:30
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2021-06-25 09:30:07 1. To remind yourself to do something: Place the object somewhere unusual. Have you heard about a brain hack of putting a knot in a handkerchief for remembering something?

You can use the same method; put something in an unusual place for reminding yourself that there is something you need to take care of.

It doesn't matter whether the object is something relevant or not, because the fact that the thing isn't in its usual, normal location will be enough to remind you what needs to be done.

2. When you find yourself getting stuck on a problem: Go and do something else instead. Let your mind wander instead of allowing it to fall asleep or merely daydream.

For example, you can try taking a walk; it'll fuel your mind with energy it needs, making it alert, which will help you in coming up with a few solutions for the issue at hand.

3. To remember difficult lists: Use the ‘Memory Palace’ technique. The ‘Memory Palace’ is an ancient Roman and Greek technique used to memorise difficult things, such as lists of names by linking or mapping them onto the memorable imagery.

We are naturally good at remembering pictures or images but not lists of numbers. And that's exactly why the Memory Palace technique works; it takes advantage of that innate type of memory which we are good at, using it to form associations.

For example, try to come up with a story about the thing which you are trying to remember or make it a song which maybe rhymes.

4.To efficiently learn something new: Use your motor system. While you are learning something, try putting it in as many neural function modalities as possible.

For instance, when you are trying to learn a new material or information, write the notes down. Even if you won't read them again, the fact that you activated your motor system by writing those notes down will help you to remember the information in the future.

Our motor system has a powerful interaction with sensory stations in our brain, which are essentially more cognitive stations. So when you engage those circuits, you fortify memories onto parts of your brain.

5. If you don't have a strong sense of time: Offload the information to a planner. Keeping a planner will allow you to offload the knowledge of the timing of all things you have to do throughout the day.

6. The brain optimization hack: Give your highest performing time to your most demanding task(s).

Evidence indicates that when the prefrontal cortex, the part of the brain which involves rational decision-making, gets depleted in energy, your ability to make logical decisions as well as rationality itself decreases.

So know when your brain is at its optimal performance to make sound decisions instead of deciding things when you are already burn out or exhausted.

7. To improve your cognition: Perform activities which produce precise movements or play sports.

Playing sports which demand producing precise movements towards dynamic targets (ping pong, tennis, etc.) can be one of the best things you can do.

The link between action and cognition is worth noting, so by improving your ability in performing spatial actions, you will be boosting your cognition.

8. To create context: Link your memories together. Usually, it's difficult remembering bits of information which are out of context. However, when you try to link your memories to one another, you will have much easier time remembering them.

9. To avoid wasting time: Schedule your time in advance so that the following day you won't waste hours on deciding what you should do next.

10. Work on developing a growth mindset. A growth mindset is a very useful brain hack; it emphasizes a possibility of growth and change rather than focusing on ability or capacity.

Even short exposure to it can enhance your capacity for change as well as your motivation and willingness to adapt and learn.
83 views06:30
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2021-06-24 15:30:02 It's upto you whether you want to believe in the power of the subconscious mind or not.

But the science that our subconscious never rests and is always on duty because it controls your heartbeat, blood circulation, and digestion cannot be ignored. It controls all the vital processes and functions of your body and knows the answers to all your problems.

That is why we should strictly follow the advice given by the inventor of electricity as we know it.

Tonight, before you sleep, spend 1 minute on thinking about what you wanted to do better. Something that you have been wishing to do for a long time, but you haven't been able to.
191 views12:30
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2021-06-24 09:30:02 DND MODE

Do you agree that constant notifications on your smartphones keep you distracted?

Research proves what we already knew anyway.
Notifications distract us even if we don't check our phones on getting them.

I recommend setting your phone's on DND mode. That way, it rings for calls, but does not notify you of notifications from other apps. You still get these notifications, just that you aren't notified.

If you think it won't be a big deal for you, try setting a timer for as less as 25 minutes, and do not check your phone for any reason before it rings. That will give you an idea of dependent we are.

I will never say that phones are bad for us. They are marvels of technology, and have made us way more productive. But we should know how to use them.

Try DND mode.
221 views06:30
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2021-06-23 15:30:01 You are the average of the 5 people you hang out with the most.

I do not agree that you can always choose your friends, or the people you spend your time with.

But on social media, specially Twitter and Instagram, you have complete liberty to follow whoever you want to.

Why don't you follow financial consultants, fitness advisors, and motivational speakers on social media?
You could learn doing something you already do.

And with the amount of time we spend browsing through our feeds, we stand to learn a lot, while converting a waste of time into something slightly productive.

Start following your favorites today, and social media algorithms will suggest the rest to you.


I could have added links to my social media channels here, but that will dilute the message behind this post
257 views12:30
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2021-06-23 12:30:05 Two Investors

A story of two investors, neither of whom knew each other, but whose paths crossed in an interesting way.

Grace Groner was orphaned at age 12. She never married. She never had kids. She never drove a car. She lived most of her life alone in a one-bedroom house and worked her whole career as a secretary. She was, by all accounts, a lovely lady. But she lived a humble and quiet life. That made the $7 million she left to charity after her death in 2010 at age 100 all the more confusing. People who knew her asked: Where did Grace get all that money?

But there was no secret. There was no inheritance. Grace took humble savings from a meager salary and enjoyed eighty years of hands-off compounding in the stock market. That was it.

Weeks after Grace died, an unrelated investing story hit the news.

Richard Fuscone, former vice chairman of Merrill Lynch’s Latin America division, declared personal bankruptcy, fighting off foreclosure on two homes, one of which was nearly 20,000 square feet and had a $66,000 a month mortgage. Fuscone was the opposite of Grace Groner; educated at Harvard and University of Chicago, he became so successful in the investment industry that he retired in his 40s to “pursue personal and charitable interests.” But heavy borrowing and illiquid investments did him in. The same year Grace Goner left a veritable fortune to charity, Richard stood before a bankruptcy judge and declared: “I have been devastated by the financial crisis … The only source of liquidity is whatever my wife is able to sell in terms of personal furnishings.”

*The purpose of these stories is not to say you should be like Grace and avoid being like Richard. It’s to point out that there is no other field where these stories are even possible.
*
In what other field does someone with no education, no relevant experience, no resources, and no connections vastly outperform someone with the best education, the most relevant experiences, the best resources and the best connections? There will never be a story of a Grace Groner performing heart surgery better than a Harvard-trained cardiologist. Or building a faster chip than Apple’s engineers. Unthinkable.

But these stories happen in investing.

That’s because investing is not the study of finance. It’s the study of how people behave with money. And behavior is hard to teach, even to really smart people. You can’t sum up behavior with formulas to memorize or spreadsheet models to follow. Behavior is inborn, varies by person, is hard to measure, changes over time, and people are prone to deny its existence, especially when describing themselves.

Grace and Richard show that managing money isn’t necessarily about what you know; it’s how you behave. But that’s not how finance is typically taught or discussed. The finance industry talks too much about what to do, and not enough about what happens in your head when you try to do it.
252 views09:30
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2021-06-22 15:30:01 Thoughts to sleep on

We spend too much of our money, buying things we don't need, to impress people we don't like, who don't care about us anyway.

Don't fall into debt, or even into heavy expenses to impress people.

No one will come forward later in life to help you buy things you need, just because they were impressed.

Focus on yourself, your family, and your networth. They'll thank you later
29 views12:30
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