HEINEKEN MALAYSIA BERHAD
KLSE (MYR): HEIM (3255)
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CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
apple168
6,236 posts
Posted by apple168 > 2019-08-26 16:18 | Report Abuse
One dollar Money Game"
Story begins like this...
It is said that Yale University Professor KO once took out a one-dollar bank note. Please ask for the price of this bank note, starting at 5 cents. The increase is in 5 cents, and the highest bidder gets this $1 bank note, but the bid "highest and second highest" must pay the auctioneer the amount of the bid, which means that the second highest person must pay and can be obtained.
This kind of unique dollar auction has invited everyone's interest. Many students started bidding. For convenience, I will only list the highest and second highest bids.
Student A bids 5 cents
Student B bids 10 cents
Student A goes out to 15 cents
Student B goes out to 20 cents...
When the two students reached 45 cents and 50 cents, they started to feel a little bit wrong. At this time, if no one gives a higher price, the professor will lose 50 cents. At this time, A wants to lose 45 cents if he does not bid, so he continues to bid 55 cents, I thought I might earn 45 cents.
Of course, B is not willing to lose, he has been 5 cents more than A. When A goes out to 95 cents and B goes out to 100 cents, B can't make any money, and A thinks if he doesn't bid. To lose 95 cents, you may lose only 5 cents if you continue to bid.
Then
A continues to out to 105 cents...
B continues to go to 110 cents...
......
The last dollar was auctioned for $20! At first the students just had the opportunity to pay a few hundred cents for the professor's dollar.
The most subtle design of this auction is that the second highest bidder also needs to pay the price he shouted, but in the end nothing can be obtained.
Many people just fall into the trap because they are in the trap. The baby's heart is bitter, but the baby doesn't say it. It will drag those who want to take advantage of it into this money game, and eventually lose both.
In fact, at first, students are feeling interesting and thinking that they can even make a small profit, but when the bids going higher, they actually feel that they are in trouble, but in order not to let themselves losing up, hence, continuing to bid, and finally, regret to participate in this auction.
In reality, why do people fall into the money game trap again and again? We believe this is likely due to GREED! In order to earn pocket money, the result is "winning the sugar, losing the whole factory."
There is “no elevator to success, you hv to take the stairs”.
Good Luck!