Business
Wise Moves
T
he man walks over to me after davening
more frequently, to the downside. Things almost
in shul. “Did you hear that New Jersey
inevitably take longer than expected. Starting
went shluffin (to sleep)?” he asks.
and growing a business simply isn’t easy.
New Jersey went to sleep? I wonder. What’s he
talkin’ about?
There is an important, basic business concept
called the Risk vs. Reward Ratio: The lower the
“You don’t remember?” he exclaims. (No. I
risk, the lower the reward. That’s why banks pay
don’t). Last year, I asked you about investing in
so little-- because it’s safe. Usually. Things like
a project that pays 17 percent a year, and you
deposits being halved to larger accounts can
told me b’shum oyfin nisht- no way!”
happen, as it did in Cyprus, but it’s certainly not
“And now, the whole thing is gegangen
shluffin, and people lost everything! But tell me,
HOW DID YOU KNOW?!”
Still wearing my tefillin, I merely pointed to my
the norm.
In real estate, the worse the area (say, the Bronx vs.
Manhattan), the higher the return on investment-when it works out to get a return at all.
bekeshe pockets, showing him my jacket signifies
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And people, let’s not forget to diversify--
that I come from a family of Rebbes. “Ah, so that’s
“le’olam yashlish Adam.” Don’t put all your
how you knew... Rebbishe zachen?!” he says.
eggs in one basket-- and if you only have one
Really, my friends? Does it take ruach
hakodesh or nevuah to beware when the average
egg right now, take extra care that your one egg
doesn’t fall down and splat all over the place.
struggling yungerman is approached to put his
“Mi sheyesh lo maneh misaveh l’masayim”- it’s
small savings into a deal he’s never seen, in a
human nature to always want more. This is true
place he’s never been to, at an astronomical
both in material (no example needed, admit it)
return on investment?
and spiritual matters (“I takkeh finished Bavli
Money does not grow on trees. There IS no
but what’s with ____?”)
easy investment. And here’s the obligatory
Remember to advance with caution. Please,
mention that a multilevel-- “this-is-not-a-
make sure things pass the smell test: When
pryamid” pyramid-- scheme is not the “dream
something smells wrong, don’t go near it.
business” that generates millions, with no work
Sometimes I think that when it says “a talmid
besides a one-time fee for a bucket of glop #288
chacham who doesn’t know the tzurasa dezuza”
and signing up two friends.
the face of a coin. . . ,” it can be interpreted as a
The Gemara tells us (Maseches Chullin 84b)
warning of sorts. When you sit and learn all day,
that a tried and true method of losing your
its laudable and “ashrei chelkecha!” But please,
money is to have unsupervised workers. Money
be aware that you don’t know “tzurasa dezuza,”
is called “zuz” because it moves from place to
especially when you’re without experience or
place, easy come, easy go.
guidance. And while it can, chalila, happen to
A wealthy entrepreneur friend of mine was
nearby when the above conversation took place.
anyone, it still makes you more likely to blunder
in the matter of where you put your nest egg.
He told me, “It’s the same thing, over and over
Let me wrap up with one last point: With help
again. Every few weeks, another too-good-to-
from our Tatte in Heaven, it’s always possible
be-true bluff gets advertised with a crazy return
to save something. Tell the bank to transfer
on investment. And even though the last one
whatever amount—whether it’s 100 shekels or
went bust and the deal makes no sense when
1,500 shekels a month-- into a savings account
you think about it objectively, unz Yiddialach
automatically. While things may be tight
(us chareidi Jews) fall for it.”
sometimes, having something put away for a rainy
Sometimes, people invest money (note the
word invest, not speculate), and things don’t
work out exactly as planned. In fact, I’d say that
things hardly ever go as planned--- business
plans are usually wrong either to the upside, and
8
THE ENGLISH UPDATE
day or Ѽ