What do you think the answer is?

I have asked this question to many, and I often get responses such as Finance, Investing, Stock Markets, Trading, Mutual Funds, Derivatives and so on.

The insightful answer was given by Jim Rogers to young people, who often asked him about the subjects to study if they wanted to be rich.

The 2 subjects are History and Psychology.

I totally agree and have been echoing this for years.

Finally, there is no new stuff to know about investing fundamentals. Even if the market goes down or up, there will be no real new things to know. As President Truman said, “The only thing new in the world is the History you don’t know”.

Another brilliant quote that you should remember is Voltaire’s “History never repeats itself; man(woman) always does.”

Thus, my vote always goes to History and Psychology. If you master the fundamentals of these 2 subjects, as it relates to investing; you will not let anyone come between you and your goals (not even you).