The Siren Song of Success: Navigating the "Too Good to Be True" World - 2015

Kids, when I was young, I came across a book by a Taiwanese writer who claimed to have made 10 billion Taiwan dollars in just seven years. Intrigued, I bought it. The book presented some novel ideas – like striking a deal with the Maldives government for mobile phone service (giving them 50% ownership, no less!) and refurbishing an abandoned fishing wharf. But it never explained how he actually amassed that fortune. I was immediately skeptical. Years later, I saw news reports about this same man: he was a con artist, with multiple jail sentences under his belt. The book's claims were clearly too good to be true.

Then there was the book about the "Wall Street whiz kid." He claimed to pick stocks based on his favorite products and services, like video games and Best Buy. Again, there was no real substance. It didn't teach me how to value a company or determine a fair price. I followed his career with interest, and eventually, he transitioned into the IT industry. This raised a red flag. If his investment strategies were so successful, why would he move into IT, a sector known for its intense competition and short product life cycles? As a programmer myself, I know how difficult it is to predict which IT companies will remain competitive even a few decades down the line.

I also remember reading books about "Daddy." One passage mentioned how he generated billions in sales for a wig company, but it was just a few lines! If you'd achieved something like that, wouldn't you have a wealth of experience to share? The book was filled with similar "success stories," like buying land and converting it into rental properties. If he was so successful, why wasn't he ever listed as a billionaire by Forbes? It all felt…unconvincing.

Ironically, even though I haven't achieved spectacular financial success myself, I've created this extensive guide (over 140 pages and counting!) to share my knowledge with you. It's much easier for me to write about mistakes than to boast about triumphs.

I once knew someone who claimed fluency in Thai and Japanese. It turned out he only knew "hi" and "hello." Yet he presented himself as an expert. This taught me a valuable lesson: always be skeptical of what you hear, and always verify information.

Even books about respected figures like Warren Buffett can be misleading. While they often contain genuine stories, authors sometimes inject their own interpretations and promote their own ideas. If you don't think independently, you might mistake these additions for Buffett's actual views. This is similar to how the Bible is interpreted differently by various people.

Kids, many people will try to sell you something that benefits them, not you. I've read countless books on investment, but few actually teach you how to do it. They're filled with fluff, book after book, leaving you no wiser. Be wary of success stories and "get rich quick" schemes. Question everything.

I'm skeptical of book publishers. Why do they publish such nonsense? I once saw a book about the Bermuda Triangle, selling mystery stories. Then another book about the far side of the moon, claiming that aliens have a base there! It's absurd. The similar stories are still on bookshelves 30 years later, which stupid will still believe it?

The most valuable investment knowledge I've gained has come from studying Warren Buffett,  Charlie Munger and Philip Fisher. They taught me the importance of long-term investing and pay for the quality and gave me the confidence to stick to my convictions. They provide substance, not just hype. That's the kind of knowledge worth pursuing.