Using chess to maximize profits from weak investments
Oct 30, 2014, 11:02am CDT
By Susan Polgar and Douglas Goldstein
St Louis Business Journal

Susan Polgar is a chess grandmaster and head of the Susan Polgar Institute for Chess Excellence at Webster University.Douglas Goldstein is a certified financial planner. Together they are authors of ” Rich As A King: How the Wisdom of Chess Can Make You a Grandmaster of Investing,” in order to give people a simple, strategic approach to taking care of their money. They agreed to share some of their insights and strategy from the book.

“Every pawn is a potential queen.” – James Mason (Chess writer, 1849-1905)

The metaphor of promoting pawns to queens applies to many areas of finance: Save your pennies, since each one can grow over time; reinvest dividends to benefit from compound interest; or even troll through your attic in case your grandmother’s old iron might have antique value. However, the metamorphosis from one piece to another has another interesting parallel in the world of investing. You’ve got a pawn that, compared with the other pieces on the board, lacks power. If treated right, though, and watched over on its journey, this meager piece can become a queen. Think of this path when choosing sectors in which to invest. Look at the relatively anemic parts of the market, find stocks with potential, buy them, and then stick with them as they slowly make it to their ultimate success.

Full article here:

What do people say about the book?

Available at:

or at a book store near you.

Chess Daily News from Susan Polgar
Tags: , , ,