What follows below is my personal experience:
A person whom I thought was my friend kidnapped me and forced me to sign away a large part of my savings which were held in the form of equity shares traded on the stock exchange. I had made the mistake of boasting about my shareholdings to this so-called friend.
So what is the lesson for you from this story?
Be discrete, even closemouthed, when it comes to sensitive information like your finances. Trust only very close people – like family members or a reputable Chartered Accountant. Operate on a need to know basis. If there is no need for them to know the information then don’t tell them.
Below is an insight that I read in the book, The Basic Writings of Bertrand Russell. These two sentences alone are worth a thousand books. The passage may sound funny but its implications are deadly serious. It goes as follows:
All men are scoundrels, at any rate almost all. Those who are not have been exceptionally lucky, either by way or their early upbringing; or by way of the environment in which they found themselves, or both.
You may believe in the goodness of humanity but that is at the level of a person’s Soul or Atman. As far as behaviour is concerned if you know nothing about a person assume that he is a scoundrel.
When in doubt presume a person guilty unless proven innocent. This is the exact opposite of the legal principle in courts of law which presumes the accused innocent unless proven guilty. But you job is not to stand in judgment over the stranger whom you have met. Your task is to safeguard your health, wealth and reputation and that of your loved ones.
For example, you may want to employ a person for a senior management post in your business. Such a position will allow access to sensitive and confidential information about your business and yourself. This information can be used against you if it falls into the wrong hands. If a candidate comes for an interview and you know nothing about him assume that you cannot be sure that he is not a scoundrel and pass him by.
This principle is of use in the following situations:
- Whether to give a loan to a person or not
- Choosing an accountant to manage your financial affairs
- Choosing your life partner
- Your choice of friends – online or offline. The English saying goes, “A man is known by the company he keeps.”
- Choosing a person for employment as stated earlier
This is only an illustrative list and I think that you will find this principle of use every day of your life.
I urge you to contemplate this chapter and its implications. Ask your near and dear ones and your children to do the same. This is a necessary part of your education and that of your loved ones.
I have learned much from reading Bertrand Russell but the passage quoted above is probably the most valuable lesson. It is worth reading a hundred books just to come across the above passage of two sentences.
None of what I have written above should imply that you should not treat strangers you meet with politeness and respect. And definitely don’t tell them that you are assuming that he is a scoundrel. You are not in the business of judging people. Your task is just to make an educated guess in order to best handle your affairs and safeguard yourself.
Find this handy. Buy me a coffee