Stocks & Commodities V. 24:8 (60-61): Websites For Traders: by David Penn

Stocks & Commodities V. 24:8 (60-61): Websites For Traders: by David Penn
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Stocks & Commodities V. 24:8 (60-61): Websites For Traders: by David Penn


Who was it who said that common wisdom was not so common? I was reading some reviews of a book published some 90-years ago titled The Richest Man In Babylon. Written by George S. Clason and first published back in 1926(!), the book — subtitled “The success secrets of the ancients” — contains what has been described as “commonsensical” wisdom on thrift and savings dressed up in a pseudo-Biblical language (hence the richest man “in Babylon”). Here’s a taste from a chapter called “Seven cures for a lean purse”:

“Confuse not the necessary expenses with thy desires. Each of you, together with your good families, have more desires than your earnings can gratify. Therefore are thy earnings spent to gratify these desires insofar as they will go. Still thou retainest many ungratified desires."

“All men are burdened with more desires than they can gratify. Because of my wealth thinkest thou I may gratify every desire? ’Tis a false idea. There are limits to my time. There are limits to my strength. There are limits to the distances I may travel. There are limits to what I may eat. There are limits to the zest with which I may enjoy.”

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