How To Prosper During Bad Times
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Sozialwissenschaften, Recht, Wirtschaft / Wirtschaft
Many people often associate economic downturn with lack or absence of opportunities. “It's simply impossible to make money much less to prosper during an economic recession or depression.”
This is absolutely not true.
Because the truth is, economic recessions or it's uglier cousin, economic depressions, are just the perfect opportunities that anyone with vision can take advantage of to become not just rich – but filthy rich!
For the record no less than America's second richest person alive, Warren Buffet whose personal fortune reached a dizzying $48 billion before he decided to give back to the society $31 billion can attest to this.
Warren Buffet built his massive fortune buying businesses and properties that most people had given up as lost. To many businessmen, he is the great rescuer who bailed them out of their economic miseries.
But of course Warren Buffet saw more than rescuing them out of their economic woes. If he sees no value or potential in their businesses, he sees no reason to buy them.
But what exactly does he know that ordinary mortals don't usually know about economic downturns?
First and foremost, economic downturns don't last. During bad times, Prophets of Doom would say the worst things about the economy.