“What I know makes me money. What I don’t know loses me money. Every time I have been arrogant, I have lost money. Because when I’m arrogant, I truly believe that what I don’t know is not important,” rich dad would often tell me.
I have found that many people use arrogance to try to hide their own ignorance. It often happens when I am discussing financial statements with accountants or even other investors.
They try to bluster their way through the discussion. It is clear to me that they don’t know what they’re talking about. They’re not lying, but they are not telling the truth.
There are many people in the world of money, finances, and investments who have absolutely no idea what they’re talking about. Most people in the money industry are just spouting off sales pitches like used-car salesmen. When you know you are ignorant in a subject, start educating yourself by finding an expert in the field or a book on the subject.