Can you trust history to make decisions?
Just because a player has scored 50 in his previous game doesn't mean that he'll do the same for the rest of the season.
History can be a misleading guide to the future of the economy and stock market because it doesn't account for structural changes that are relevant to today's world.
By Morgan Housel in his book Psychology of Money
I'm no financial expert, but the fact that you can't rely on history to make all your decisions is entirely true.
Just because a player has scored 50 in his previous game doesn't mean that he'll do the same for the rest of the season.
The world keeps changing. The game keeps changing. The opponents keep changing.
You have to take into account all of these things before making that decision.
When I wanted to build a new newsletter from scratch, I didn't just rely on my skills that helped me build my personal newsletter to 8,000 people (I've deleted it now).
I did my research and understood what goes into building a newsletter in 2023 and what has changed in the past few years.
I guess the same goes for any financial or business decision.
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