In honor of Dr. Martin Luther King, Jr. Day, I thought I’d turn to one of my favorite books.
Though the words can be applied to many situations (politics, education, relationships), I see this as particularly evident for beginning real estate investors who want the get-rich-quick schemes. They are drawn to the fast-talking hotel gurus, or the TV personalities who, if not for a “good market”, would have failed immediately.
The human trait of laziness comes with a big cost. As investors, we need to be educated FIRST, then deploy our money to work for us in whatever asset class matches who we are, what we have learned, and where we want to go.
In politics, we get bamboozled just as easily by the talking heads because again, we don’t take time to learn.
“The tough mind is sharp and penetrating, breaking through the crust of legends and myths and sifting the true from the false. The tough-minded individual is astute and discerning. He has a strong austere quality that makes for firmness of purpose and solidness of commitment. Who doubts that this toughness is one of man’s greatest needs? Rarely do we find men who willingly engage in hard, solid thinking. There is an almost universal quest for easy answers and half-baked solutions. Nothing pains some people more than having to think.”
― Martin Luther King Jr., Strength to Love