If you could each seriously think about this scenario and provide an answer (and why) it may give you a lot of insight as to what type of investor you are. It does relate to investing and something that is part of my goal list for this year, but I’m not quite sure how to proceed. I’ll share details with anyone who leaves a comment.
You are alone on a camping trip far out in the desert. You have a truck with bald tires and bad breaks. You get bitten by a rattlesnake and have 6 hours to get to the hospital. If you take the road out of the woods you drove in on, it will be too far a journey to make it to the hospital in time and surely you will succumb to the venom. Luckily, there is a shortcut through the desert that will get you to the hospital in time.
The shortcut road to the hospital is dirt, gravel and mud. You can make it with your bald tires, but it will be a long, slow journey with lots of hard work involved and time is not on your side.
At the end of the dirt road, it comes out to a paved road, but it is at the top of a long hill. At the bottom of the hill is an intersection with a stop sign. The cross street is not well traveled, but there are semi trucks that do use it often enough that a collision is definitely a possibility. After the intersection, it is a long straightaway to the hospital which you can use to slow down enough to easily stop even with your bad breaks.
If you could do one of the following before your trip, would you:
A) Buy new brakes so you are certain to stop at the intersection and avoid a potential collision, but risk getting stuck on the way.
B) Buy new tires so you can get easily get through the shortcut road, but risk a collision with a large semi truck.
You can only pick one and please share why you choose the one you pick.