Doug Casey’s 9 Secrets for Successful Speculation

caseyresearch.com / By Louis James, editor, International Speculator / May 15, 2017

When I started working for Doug Casey in 2004, I probably knew as much about investing as the average Joe, but I now know that I knew absolutely nothing then about successful speculation.

Learning from the international speculator himself was like taking the proverbial drink from a fire hose. Fortunately, I was quite thirsty. I got serious about learning how to put my money to work for me.

It’s impossible, of course, to communicate all I’ve learned over my years with Doug in a simple article like this. Still, I can boil what I’ve learned from Doug down to a few “secrets” that can help you as they have me.

I urge you to think of these as a study guide, if you will, not a complete set of instructions.

As you read the list below, think about how you can learn more about each secret and adapt it to your own most effective use.

Secret #1: Contrarianism takes courage.

Everyone knows the essential investment formula: “Buy low, sell high.” But it is so much easier said than done, it might as well be a secret formula.

The way to really make it work is to invest in an asset or commodity that people want and need but that for reasons of market cyclicality or other temporary factors, no one else is buying. When the vast majority thinks something necessary is a bad investment, you want to be a buyer—that’s what it means to be a contrarian.

READ MORE

The post Doug Casey’s 9 Secrets for Successful Speculation appeared first on Silver For The People.