I was talking with a friend earlier today about risks and rewards. She’s more conservative than I am about risks, so she sometimes has trouble letting herself mentally commit to something risky — especially when the reward is something she really wants.
The conversation reminded me of a story I’d like to share with you.
…I attended a lecture being given by a man who had made millions of dollars speculating in commodities. Along with several hundred other people, I had paid five dollars to hear how to make a fortune in the commodities market using the system developed by this highly successful trader.
The air in the packed meeting room was charged with excitement. We all felt as if we were being let in on a valuable secret that would make us all rich. By the middle of the lecture, the speaker had built up a full head of steam, explaining his charts, talking about margins and contracts and the different kinds of orders he placed with his broker.
Suddenly a spectator near the back of the large room stood up and said, “Hey, wait a minute. From what I can see, all this speculation is very risky business. Don’t you realize that you can lose every penny you have — and then some?”

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