Best strategies and worst strategies ?

[Fortify]

Today I was reading the of Morgan Housel ' The psychology of Money'. In the page no 28 there are 3 questions asked
1) What investing strategies work? Which ones don't?
2) What business strategies work? Which ones don't?
3) How do you get rich? How do you avoid being poor?
I would love seeing your answers of these questions because nothing comes to my mind whenever I see these questions.

The best strategy for most people is actually rather boring, find a reliable ETF provider like vanguard, choose a reinvesting fund that's spread globally across say the top 5000 companies and go for the ones that charge minimal fees. Then the only plan is to dollar cost average and keep pumping as much as possible into it every month. It's not glamorous and is boring however, plus it'll take many decades for it to accumulate enough for you to retire on. If on average you're able to make 7% per year on your investment that would be considered a decent recent for the risk. It's worth noting that you should probably rebalance towards bonds as you get to later life, because these will be more protected from recessions. Outside of that you're into much more risky territory, which might pay off or it might wipe out a large chunk of your capital.

[crwth]

Reading this thread, it seems like the strategies, whether good or bad, still take effort. Whether you do your best or not, there's a factor that plays a role in this; it's luck as well.

Sometimes, everything aligns so you can get a good outcome from good/bad decisions. I think this applies to it as well. There might be compounding effects as well.

[Die_empty]

I would love seeing your answers of these questions because nothing comes to my mind whenever I see these questions.

Your questions are vague. Businesses would have to apply different strategies in various types of investments. There are also different strategies at different levels of business. A new business would have to have a distinct pattern from an established one
The business location would also affect the pattern owners should adopt.

Most people who get rich are investors or business owners. They develop a system where their income exceeds their expenditure. You can get rich by developing more than one source of income and managing your financial resources effectively and efficiently

[Woodie]

Today I was reading the of Morgan Housel ' The psychology of Money'. In the page no 28 there are 3 questions asked
1) What investing strategies work? Which ones don't?

Jumping from one strategy to another won't fix the problem, and truth be told all strategies work one needs to just fine tune them.

Funny enough, in 2026 never thought people would be using RSI, or Bollinger bands but we have traders still using these profitably and this is proof that it's not the strategy that's broken.. it's the trader themselves!

2) What business strategies work? Which ones don't?

Difficult to answer this one..not a one answer fits all.

3) How do you get rich? How do you avoid being poor?
I would love seeing your answers of these questions because nothing comes to my mind whenever I see these questions.

Not being scared of risk I suppose, and pretty much getting out of ones comfort zone is the answer..

[terrific]

Reading this thread, it seems like the strategies, whether good or bad, still take effort. Whether you do your best or not, there's a factor that plays a role in this; it's luck as well.

Sometimes, everything aligns so you can get a good outcome from good/bad decisions. I think this applies to it as well. There might be compounding effects as well.

There's a bit of touch of luck but, we create that luck by working hard and exerting more effort.
Most of the wealthy people exerted most work, if we work usually 40 hours a week, they've worked double or even more than that.
We take the example of Elon Musk, he's said that he's working around 80 to 100 hours a week.
But I agree with that analysis of yours, every success requires effort. Otherwise, those who became rich who didn't do much effort are either heirs/heiress or won the lottery.

[uneng]

From what I've observed, strategies should be aimed to long term goals, while avoiding the short term ones which promise richness overnight. Therefore, the working strategies involve being patient, focused, resilient and detached from ephemeral luxuries and pleasures.

When the investors is focused in short term strategies, he relies too much on luck, and too little on himself, so it's never a good deal, because he is putting his expectations on something out of his control. That is why many people fail and frustrate themselves, especially in this crypto industry.

[Marvelockg]

3) How do you get rich? How do you avoid being poor?
I would love seeing your answers of these questions because nothing comes to my mind whenever I see these questions.

If you are asked how you intend getting rich and you genuinely don't have a valid to that, then you have some big problem. becoming wealthy don't just happen just because you are a lucky person. there are processes to it and every and anyone that wants to thread that part should know the route that will land them their. talking about poverty for instance, if you are lazing about, you already know that you are preparing to land there. the strategy out is to be busy about doing the right thing. you have to do something and do it the right way, that is the only escape route for you.

[Cryptomultiplier]

3) How do you get rich? How do you avoid being poor?
I would love seeing your answers of these questions because nothing comes to my mind whenever I see these questions.

If you are asked how you intend getting rich and you genuinely don't have a valid to that, then you have some big problem. becoming wealthy don't just happen just because you are a lucky person. there are processes to it and every and anyone that wants to thread that part should know the route that will land them their. talking about poverty for instance, if you are lazing about, you already know that you are preparing to land there. the strategy out is to be busy about doing the right thing. you have to do something and do it the right way, that is the only escape route for you.

There's a saying I know that in the last part talks about how big minds discuss ideas. I can't quite the whole saying, but the point is that, inorder to get rich, one must either inherit it or do something shady or discuss good ideas that are executed in time.
Without this step of execution of ideas, wealth can never be discovered and that's just how it is no matter the strategy that's drawn out.
Have a good idea, draw it out on paper and work towards achieving it step by step. This is the path to wealth.

[ColdLava40]

Today I was reading the of Morgan Housel ' The psychology of Money'. In the page no 28 there are 3 questions asked
1) What investing strategies work? Which ones don't?
2) What business strategies work? Which ones don't?
3) How do you get rich? How do you avoid being poor?
I would love seeing your answers of these questions because nothing comes to my mind whenever I see these questions.

It will have to narrow down on the type of investment you speak of.

If it is cryptocurrency then we all know that then best strategy is investment on the right coin, at the right time, buying low selling high, long term hold and continuous accumulation over a period of time.

For business they are very many, what works for you may not work for someone else that is why ome business owner are progressive while others aren't. It's because they are employing the wrong strategy into the right business.

Getting rich isn't always the problem, the main problem is staying rich and maintaining wealth.

[Conqueror777]

Today I was reading the of Morgan Housel ' The psychology of Money'. In the page no 28 there are 3 questions asked
1) What investing strategies work? Which ones don't?
2) What business strategies work? Which ones don't?
3) How do you get rich? How do you avoid being poor?
I would love seeing your answers of these questions because nothing comes to my mind whenever I see these questions.

Skills are the answer. Learn valuable skills like marketing, selling, etc and invest in YOURSELF and your ABILITY to make money. After you have a couple thousand euros or dollars(depending on where you live) then you can start investing into peer to peer lending, real estate, crypto and stocks.

[uchegod-21]

There is no universal best strategy and there is no universal worst strategy. Any strategy can work for anyone or any kind of business. I have realised this because sometimes you see someone do a particular investment in a certain way and it works perfectly for them. You too try to copy them and it ends in disaster, then you begin to wonder if it wasn't thesame idea you are using.

Instead of trying to copy best strategies from anyone, there are some key things you must do yourself.

• first study and try to understand the business idea or investment you intend to venture into
• know the risks involved and try to access yourself if you can handle the risks
• Try to know the expected  rate of returns and how long it will take you to be profitable if all things remain thesame. This will help you handle short term or long term expectations
• Avoid get-rich-quick investments because they are mostly scams

Some strategies work for some people because they know what they are doing and can still stay calm even when they are losing.

[Royal Cap]

Haha, although I haven't read the book, I think you will get the answers to these questions only after completing the book. Anyway, since you posted on the forum, I share my opinion, Although I don't know if this will work for everyone. Because different strategies work for each person during investment. Some may want to invest for the short term and some may want to invest for the long term. Also luck is a big factor here along with investment.

In business I would say that if you work with the product or sector that you have a good interest in, your business is more likely to be successful.

And to become rich, I can say that it depends on your needs. For example, if someone can stay healthy and meet the basic needs of himself and his family, he is also a rich person. Again many people have millions of dollars but they want more. Here, although he is rich in terms of money, he is not rich in terms of mind.

[Wiwo]

Today I was reading the of Morgan Housel ' The psychology of Money'. In the page no 28, there are 3 questions asked
1) What investing strategies work? Which ones don't?
2) What business strategies work? Which ones don't?
3) How do you get rich? How do you avoid being poor?
I would love to see your answers to these questions because nothing comes to mind whenever I see these questions.

The three questions ball down to same answer, at least for someone who have active business and running for over three years, we can say what makes the business successful to this extent, when your business or investment becomes successful is now easier to build wealth through that business.

Capital reinvestment is the key to success in business, meaning even when your business is successful and you can take out your capital, you should reinvest that Capital instead of spending this key step helps you build multiple streams of cash flow.

[Awaisjanizz11]

This is a silly question, asking about business strategy or getting rich, while from this answer all will not be the same for others to do his opinion --- his problem is you can experience failure first and then the business can develop.

I never read the book, but from what you read in the book not to the conclusion that you understand, instead turned to ask about strategies that work and only the answer is yes or no.

Yes this can be a silly question only to those who haven't read the book. And I am asking that what would you do after you experienced failure ? Do the same thing again ? Or Change your thinking ?
The main problem is that you haven't read the book that's why you are not getting my words. So you may read the book first try to understand then tell me what did I mean and what you understood.

[yhiaali3]

In my opinion, these three questions are huge questions, each of which needs a separate book if you want to cover all aspects, so don't expect that these three questions can be answered with short answers that will do the job.

Then I do not expect to find similar answers to the same questions because each person will answer from their own perspective or experience, and therefore the opinions will be different...
For example, regarding the first question, "What are the successful investment strategies? And what are the unsuccessful ones?" Everyone will tell you strategies that they think are successful, but they are not necessarily successful or will work for you, and so on.

[Tonimez]

Reading this thread, it seems like the strategies, whether good or bad, still take effort. Whether you do your best or not, there's a factor that plays a role in this; it's luck as well.

Sometimes, everything aligns so you can get a good outcome from good/bad decisions. I think this applies to it as well. There might be compounding effects as well.

I find it hard to believe that luck plays a higher role in getting rich than doing your best/working consistently. A person who desires riches works and lives intentionally and those are the factors that make the person lucky. Wealth comes from having a level of investment and multiple sources of income which is a product of a well planned money process.

Let me say that, to be wealthy, you first have something doing, you invest your money and you may also diversify your investments and make more money from various sources.

A person may be lucky to get a job as soon as he leaves school, that may be luck, but getting a job does not make someone wealthy because real wealth is a product of calculated investment and calculated risk taking. In another book, it is advised that you should never invest in whatever you do not understand because wealth is better intentional than luck. Luck may give you huge money from gambling or something undeserving ways, but investing the money rightly and consistently would be a good way of getting wealthy.

[The Cryptovator]

Today I was reading the of Morgan Housel ' The psychology of Money'. In the page no 28 there are 3 questions asked
1) What investing strategies work? Which ones don't?
2) What business strategies work? Which ones don't?
3) How do you get rich? How do you avoid being poor?
I would love seeing your answers of these questions because nothing comes to my mind whenever I see these questions.

If someone makes a strategy, then he makes it for him as good, but sometimes it turns into bad. For you, would you choose something bad? Definitely not. If you are dreaming of becoming rich by reading a book, then you are wrong. You may get some ideas from the book that help you to move on and take the decision only from writer experience.

There are a lot of business and strategy that would be different for each business. But some common things would add to the business strategy, like patience. Becoming rich isn’t really easy anyway; you have to invest in the right place and at the right time. Like, you can’t sell blankets in the summer season, but you can produce them in the summer and sell them in the winter. However, you can’t be just rich by reading books.

[Rhow]

Today I was reading the of Morgan Housel ' The psychology of Money'. In the page no 28 there are 3 questions asked
1) What investing strategies work? Which ones don't?

Funny enough, in 2026 never thought people would be using RSI, or Bollinger bands but we have traders still using these profitably and this is proof that it's not the strategy that's broken.. it's the trader themselves!

I agree, some traders are probably making profits using RSI or Bollinger Bands in some cases. But does this prove that the strategy is good and failure is always the trader's fault? Because others may lose due to emotion or poor risk management. That is why trading skills are needed. I personally do not judge in favor of trading, because it can defeat even experienced people. Still, when some people find trading profitable, it is their own decision.

I will not blame the trader for failure in all cases. You stop and think, maybe a few traders are making profits using some indicator, does that strategy prove to be profitable in the long run? Of course not.

They give signals about the market but their signals are not certain.