Saturday 2 February 2019

Conventional Wisdom: Following the asses..................from Rico

People tend to forget that when you follow the Masses, sometimes the 'M' is silent.
- Take the Conventional Wisdom about restaurants for example: "Most restaurants close in the first year."
No. It ain't so. Despite the American Express advertisement that claimed they had a 90% failure rate, if you get your, or anything else from the MSM you're a fool and being fooled simultaneously.
- IF you get your investment 'wisdom' from FTV, then you're going to be too broke to have anything to invest after listening to their financial bovine excrement.
While BLS does say that small startups DO have a higher closure/failure rate, most restaurants do NOT close in their first year. Only 17% of them do.
- This is comparable to the 21% closure/failure rate for insurance agencies and brokerages.

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