Monday, 29 December 2014


Arkad relates that he did as advised, saving a tenth of his income for a year, then investing that money with a brick maker who went on a journey to buy jewels to trade. He related this to Algamish, who castigated Arkad for his foolishness. "Every fool must learn" he said, "But why trust the knowledge of a brick maker about jewels? Would you go to a bread maker to inquire about stars? 
Algamish then said, "He who takes advise about his savings from one who is inexperienced in such matters will pay with his savings for proving the falsity of their opinions. " Arkad then saved his money for another year, and he invested with Agger the shield maker who used it to buy materials; every fourth month Agger paid Arkad rent for the use of these funds. 

Arkad spent these dividends on fine clothing and regular scheduled feasts. Algamish comments that Arkad is "eating the children of his savings" by not investing them. Arkad adjusted his behaviour and when he finally meets with Algamish two years later, Algamish is so pleased with how Arkad had taken his lessons to heart, he hired Arkad as a manager of his estate in Nippur. 

By continuing to save and invest wisely, Arkad relates that he became the wealthy man that he is now. 

Excerpts fro the book titled "The richest man in Babylon.

No comments: