The fire that burned the dragons

Dragons Den is the popular TV show where wealthy businesspeople invest their money in ideas by members of the public. I recommended one of the books from the show in my blog. In a recent real life shock, one of the business ideas with £127,000 of money invested is on the verge of bankruptcy.

This shows that no matter how skilled a rich person is in creating wealth, the current economy is like a fire that is burning everything in its path. Rich people are not immune to losing money, and in this economy, everyone will lose money in one way or another. I have a few very wealthy friends and I listen to them, however this credit crunch confirms to me that ultimately I must take my own advice, and trust my own judgement on the best way for me to steer my finances through this storm.


The dragons on dragons den have proved themselves by becoming extremely financially successful, but even they cannot fight the current huge economic fire without getting burned.


For the next year at least, I'm going to play it ultra safe with my own finances. I suggest you do the same, as I believe it could be at least 3 years (2012) before we might see the green shoots of economic recovery.