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FU Money Empowers Negotiation
- Jim Collins once saved $5,000 for a trip to Europe and requested a sabbatical at his job, which was denied.
- After he resigned, his boss negotiated extra time off, showing the power of having FU money while still employed.
Investing Needs Patience, Not Risks
- Successful investing is about steady incremental gains, not swinging for home runs.
- Fear during market crashes led Jim to sell stock at the worst time, proving timing the market is risky.
Expert Analysis Doesn't Ensure Gains
- Even expert analysts with deep industry knowledge often fail to predict stock movements.
- Understanding business fundamentals doesn't guarantee success in timing stock price changes.