The fund manager says we made 20% last year. Nullius in verba
The advisers say, don’t worry, you’ll be fine. Nullius in verba
Of course, individually we do not have the time, energy, experience and intelligence to question everything. We rely on others with an assumption of good faith. But from time to time, you need to question your good faith. Failing to do so means your good outcomes rely on luck. When it comes to allocating your capital for the future, for yourself and your family, then relying on help is not helpful. You need a much more thoughtful and scientific approach.
How can you tell a fraudster to someone who is genuine to help you?
We have all seen in the national press examples of fraudsters. There are also those that are negligent. There are others that are not even competent. Some are downright fraudsters. On the other hand, others seem to draw adulation and hype and are immediately trustworthy. Yet trying to decide who falls into which camp is no easy matter. As such, taking the responsibility to question who you trust is vital. Nullius in verba.
Nullius in verba is a great quality to pursue. In fact, Nullius in verba (Latin for “on the word of no one” or “take nobody’s word for it”[1]) is the motto of the Royal Society. John Evelyn and other fellows of the Royal Society chose the motto soon after the Society’s founding in 1660.[2]
We use the words adaptive competence. The more you can do for yourself, the better will be your outcomes.