Credit Rating and Required Rate of Return: Suppose you and Warren Buffett borrow money from a bank. The bank will assess your credit ratings differently. Maybe the bank could offer Warren Buffett a loan without interest since it can be advertised as a bank used by the renowned investor. However, it will likely charge you interest because you have a lower credit rating and less fame than Warren Buffett. The interest rate each borrower faces, based on their creditworthiness, is called the required rate of return for creditors. Under the same conditions, the cost of poverty is much higher for the poor than for the rich. Poverty inherently involves costs. - Joseph’s “just my thoughts”
The most difficult clients to consult are those who are simultaneously greedy and fearful. They don't take action because they strongly believe in their ideas, but on the other hand, they are overwhelmed by fear and don't trust the consultant's advice. It's a very exhausting life. - Joseph’s “just my thoughts”