by Doug Goldstein CFP® | Jan 21, 2016 | Chess |
One of the most popular pages on the Rich As A King blog is the chess quotes page. This is because many people, even if they don’t play chess, like inspirational quotes. The wisdom of chess lies in the fact that its winning strategies not only can be applied on the board, but are applicable to life off the board as well. When was the first game of chess? Chess first originated in India in the sixth century, and it was called Chaturanga, a Sanskrit word referring to the four divisions of the military. In those days, the pieces were infantry, cavalry, elephants, and chariots. Over time, these pieces evolved into today’s pawn, knight, bishop, and rook. And the queen replaced the piece that was known as the “vizier.” The game spread to the Persian Empire, and from there to the rest of the world. The words “chess” and “check” originated from the Persian word Shah, meaning “king.” The rules and moves that chess players use today also evolved over the years, as did the game’s unique tactics and strategies. As Grandmaster Susan Polgar and I wrote in Rich As A King, the intriguing logic and strategy of chess can be applied to finance, as well as life in general. With such a long history, it’s not surprising that a wealth of chess quotes, from chess players and also from lovers of the game, has accumulated over the years. Even if you aren’t a chess player, you can still appreciate chess quotes for their piquancy and wisdom. Here are a few of my favorites: “In life, as in chess, forethought... Click for more
by Doug Goldstein CFP® | Sep 17, 2015 | Chess, Inspirational Quotes |
Kotov’s quote is one of my favorite chess quotes since is sums up the ethos of both successful chess and financial planning. When playing chess, you need to follow some kind of game plan. Even if your plan is in need of improvement, it is still better to follow it than to simply make random moves. Similarly, although the ideal is to have an efficient, successful financial plan, it is most important to follow a plan, even if it’s not the perfect plan, rather than making haphazard investment decisions that don’t conform to any plan at all. Lessons for life Chess quotes, composed by seasoned grandmasters, can teach you a lot about life in general, not just about chess. In fact, Susan Polgar and I found some of the greatest humorous, sharp, and thought-provoking quotes, which we included when we wrote Rich As A King. We also compiled an interesting selection of inspirational chess quotes from some of the most famous chess grandmasters and posted them on our site. Read them and get inspired here. Get FREE Chess Quote Poster Book Douglas Goldstein, co-author of Rich As A King: How the Wisdom of Chess Can Make You A Grandmaster of Investing, avid chess fan, international investment advisor and Certified Financial Planner (CFP®).... Click for more
by Doug Goldstein CFP® | Sep 10, 2015 | Chess |
What did world chess champion Grandmaster Magnus Carlsen do after he beat Grandmaster Wesley So in the fifth round of the Sinquefield Cup at the end of August 2015? Magnus, accompanied by his father and Peter Heine Nielsen, visited Webster University for a game of basketball. Then, they visited SPICE – the Susan Polgar Institute in Chess Excellence, where they checked out the world class chess library. Look carefully at the picture: Magnus’s father is holding Rich As A King. For more about this special visit, click here. ... Click for more
by Doug Goldstein CFP® | Sep 3, 2015 | Chess, Financial Strategies, Other |
Some conversations are short and some are long. Some conversations end, while others linger. My conversation with Susan Polgar on the similarities between chess strategies and investing strategies never really ended. It led to the publication of our book Rich As A King: How the Wisdom of Chess Can Make You a Grandmaster of Investing It led to a blog. It led to a podcast that has gotten thousands and thousands of downloads! We just made it even easier for you to download and listen to our ideas when you’re on the go. You can listen to the podcast on four platforms: Our blog iTunes Stitcher TuneIn No more excuses not to listen to The Rich As A King Podcast and share it with your friends. Listen now, and let me know what you think. Better yet, let me know what topics you find most useful on the podcast and blog. I’ll talk about those more…. Douglas Goldstein, co-author of Rich As A King: How the Wisdom of Chess Can Make You A Grandmaster of Investing, is an avid chess player, international investment advisor, and Certified Financial Planner (CFP®). ... Click for more
by Doug Goldstein CFP® | Jun 25, 2015 | Chess, Decision Making |
One of my favorite Magnus Carlsen quotes is: “Of course, analysis can sometimes give more accurate results than intuition but usually it’s just a lot of work. I normally do what my intuition tells me to do. Most of the time spent thinking is just to double-check.” Carlsen states the importance of inner intuition in order to decide how to proceed in chess correctly. Should you follow your intuition in other areas of life too? How do you know when you should follow intuition or when you should analyze a situation? Making decisions based on intuition can be dangerous too. It is very easy to move your pieces carelessly around the chess board, or randomly trade stocks with no real goal foreseen, just because it makes you feel you are doing something useful. But then, upon analysis, you find your “intuitive moves” led you to a dead end. And you will just hope that won’t be your financial end too. Should you follow your intuition? As Carlsen states, the time he spends thinking is mainly dedicated to double checking his intuitive ideas. Before he acts on his intuition, he checks to see if it is trustworthy. But don’t forget, his intuition comes from having played tens of thousands of chess games, and from studying all of the major games that have been played throughout history. Have you developed such a deep intuition in dealing with investments? What does your intuition tell you about diversifying your assets or creating a financial plan? It’s crucial to double check your financial moves, and make sure they make sense, even if you are... Click for more
by Doug Goldstein CFP® | Mar 19, 2015 | Chess, Other |
Announcement: Rich as a King is now an e-book. Unclear as to the advantages of an e-book over a paperback book? Keep on reading and we’ll let you know. What’s so great about an e-book? Some argue that e-book reading isn’t the same experience as a paper book – no more turning over pages or savoring the “new book smell.” There’s no denying that. However, e-books have several benefits, including: Instead of carrying heavy books around, you can load several different books on your device and read a variety of literature wherever you are in an easy-to-read format. Environmental benefits. Going paperless saves trees and other resources involved with book production and shipping. 1-2-3 acquisition curve. As long as you have internet access, you can download books from either online bookstores or your local library. Programs like Overdrive and Amazon Prime make literally thousands of books available to you at the touch of a button. Reduced costs – e-books can be borrowed from libraries or purchased. You can also use the BitLit program, which provides you with a free e-book version of any physical book that you already own. There are many different type of e-book readers. Let us know your favorite one in the comments below. It’s very easy to get your Rich As A King e-book. Since we subscribe to BitLit, if you already own a physical copy, you can now download the e-version for free! Simply go to the copyright page and at the bottom on the left you will see a square that says, “Bitlit.” Follow the easy instructions there and you will receive a... Click for more
