If you don't understand it or have no control over it, leave it alone!

Protect your capital. Do not invest in something that you do not understand.

I have made my share of mistakes. The underlying commonality between all my mistakes was that I didn't understand the investment or the "deal" completely, or had no control over it.

Nowadays, I want an equity stake in any venture I put money into. If someone I know approaches me with a "great" investment in (say) a deal, I will insist on part ownership of the equity, I want to know how my capital will be protected and a vote on any major matters within the development to the percentage value of my investment. The fact that the deal is offered by someone I know (even a close friend or relative), has no influence on my decision. If they want my money in their deal, they too need to have "skin in the game" and I need security of my capital, otherwise they will need to go elsewhere for funding.

I have tried a few different ideas. Some of which failed. The problem was not the idea, it was the execution of the idea. My losses were due to my lack of knowledge, my lack of understanding of how to evaluate the deal, and understanding of the particular markets at that time. It saw me lose some serious money.

It was my fault, and I just didn't understand the investment well enough - as the saying goes "You Either Win or you Learn". I have learned some really good lessons in the past!

One important thing to note: I have only ever put whatever I was willing to lose in any investment. I would NEVER put all my eggs in one basket hoping for a windfall. It was always a small percentage of my net worth.

For me, I understand industrial property, it's markets, pricing, trends, etc. That's where my investment efforts have been focussed for the last 20+ years. Today I have added equities to my investment interests. I am new to this area, as such I have put less than 10% of my net worth into it so far and it has gone well, though it is a bull market as I write.

I am still learning, constantly learning, I subscribe to a few newsletters and have feeds from a few investment bank sources and analysts. It still amazes me how opinions can vary widely with regard to the stock market and the different company valuations. However, I am understanding it and I have control as to when I buy and sell and being a liquid market, I have some control.

I believe that you should focus on what you understand, and make the most you can out of the opportunities in your area of expertise.

Being a "Jack of all trades and master of none" is a sure-fire way to lose.

Opportunities will ALWAYS come and go. If you miss this one, then you can always catch the next opportunity - just make sure that the opportunity makes sense to you.

Currently the "next big thing" is cryptocurrencies.

So many "experts" have opposing opinions. They will tell you that it is a fad that will fade away, or that it is pure speculation, or that one Bitcoin will be worth maybe $500,000 in a few years. Even today, the CEO of a major investment company stated that Bitcoin will go to zero value. Then there is Elon Musk who promoted Bitcoin, then stopped and switched to another coin completely.

This, to me, was blatant manipulation of the cryto market and values.

Nobody seems to understand Crypto currencies - we know this because there are polar opposite opinions from a heap of "experts".... so who's right?

When celebrity billionaires like Elon Musk and Mark Cuban, Tweet their opinions regarding certain cryptos and what they believe, please don't tell me they aren't trying to maipulate values to their benefit.

Cryptocurrencies - I cannot understand them, nor have any control over outcomes as it is a blatantly manipulated market (in my opinion)... though it may be a missed "opportunity" for me, I choose to leave that "investment" alone because I don't understand it enough - I don't think anyone does.

Lesson:

• Just focus on what you know and are good at, and keep tweaking your techniques. You will keep getting better at it which will make you more money in the future. This is the way the rich got rich, and this works for pretty much everyone.