Greed is a powerful emotion that can be used to motivate people. Here’s how you can use greed, fear, and other emotions in your marketing strategy with insights from behavioral finance. Warren Buffett, the world’s most innovative financial man, says something like this: he is afraid when others are greedy and greedy when others are scared. Warren is implying that if everyone is hopping on the bandwagon, you should be cautious since, in most circumstances, when something seems to be too good to be true, it is. And if others aren’t getting on the bandwagon, you should check into it more closely since the payoff might be enormous.
Ways to be greedy (which will hopefully make you rich):
The Stock Exchange
During the last few months, The Stock Exchange took a big dip. Just about every stock is down, which has caused people to become fearful about playing on The Stock Exchange. I don’t know if The Stock Exchange is at its lowest, and truthfully I don’t care. I know that within the next five years, it should be doing better than it is now, and because of this, I am being greedy when it comes to playing the Stock Exchange.
Compared to most people, I have very little knowledge about the Stock Exchange. But one thing I do know is that companies that the government has bailed out are doubtful to go bankrupt… especially ones like AIG, which received 150 billion dollars. Due to this, I have been buying stocks like AIG because I feel I will make a substantial return on my investment within the next five years.
Purchasing Businesses
Many company owners are now in debt, and as you may be aware, cash is king during a recession. So, if a business owner wants to sell his thriving company because he is personally in debt, you may pressure him to obtain an excellent bargain for yourself.
In the previous several months, I’ve contacted big websites and asked if they’d be interested in selling. Of course, most website owners do not sell, but you may come across one prepared to sell at a bargain now and then because he is personally pressed for cash due to unforeseen circumstances.
Investing as an angel
Currently, venture capitalists and angel investors aren’t putting much money into startups. When a good firm needs money, it generally offers more stock in the company than it usually does. As a result, you may obtain higher returns on your investments during this crisis than most people have experienced in decades. These are the three critical ways in which I am now greedy.
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