Greetings friends of Project Hope, best wishes to all. I hope you are good. Recently, Warren Buffett, the best investor of all time, has made public his annual letter, one that he creates annually for all the people who invest in his management company, and has given some very interesting data as well as observations, and everything Says there is something in particular that I would like to share.
And it clearly has to do with the financial markets, and above all, with our position as people regarding financial education, and how it can benefit us in the current context or how it harms us, it allows us to move forward, and Despite all the technological advances and access to information, it is not used adequately.
One of them is that the markets have changed a lot since the time it started, but people are still financially ill-educated, as much or more than they were before, in the 50s or 70s. And yes, it's true , and this has its explanation, which I will share below as a personal opinion.
It is quite clear that today, financial markets have undergone significant evolution with the advancement of technology and globalization. However, despite these changes, many people remain very poorly educated financially, in some cases even more so than in past decades, such as the 1950s or 1970s.
One of the reasons for this situation is the lack of emphasis on financial education in the traditional educational system. Something I have talked about on other occasions. Many people do not receive adequate training on how to manage their finances, invest wisely, or plan their financial future. Additionally, the complexity of current financial products, such as financial derivatives or cryptocurrencies, can make understanding even more difficult for those without a solid foundation in financial education.
And, I also believe that another important factor is the influence of advertising and consumer culture, which promote impulsive spending and the search for instant gratification, instead of encouraging long-term savings and investment.
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