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Prospering During Bad Times
Many people often associate economic downturn with lack or absence of opportunities. “Its simply impossible to make money much less to prosper during an economic recession or depression.” This is absolutely not true. Because the truth is, economic recessions or its uglier cousin, economic depressions, are just the perfect opportunities that anyone with vision can take advantage of to become not just rich – but filthy rich! For the record no less than Americas second richest person alive, Warren Buffet whose personal fortune reached a dizzying $48 billion before he decided to give back to the society $31 billion can attest to this. Warren Buffet built his massive fortune buying businesses and properties that most people had given up as lost. To many businessmen, he is the great rescuer who bailed them out of their economic miseries. Of course Warren Buffet saw more than rescuing them out of their economic woes. If he sees no value or potential in their businesses, he sees no reason to buy them. What exactly does he know that ordinary mortals dont usually know about economic downturns? First and foremost, economic downturns dont last. During bad times, Prophets of Doom would say the worst things about the economy. Of course things are bad. But they only remain bad to a certain point. This is because of the thing called Economic Cycle. Economic Cycles are periods in history of booms and busts. Economic cycles are the hallmarks of laissez faire system. Economic cycles behave just like the seasons.
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| File Size | 1 megabytes |
| File Type | ZIP |