Stay Away From LLL
Stay Away from LLL The aphorism "Smart go broke in three ways: Liquor, Ladies and Leverage" compresses a longer observation about how intelligence alone cannot guard against common financial hazards. Each term names a different pathway to ruin: personal consumption that destroys savings (liquor), misplaced social or emotional obligations (ladies), and financial structures that amplify losses (leverage). PESAWALA Digest examines these channels in turn clarifies why cognitive ability must pair with discipline, incentives, and risk management to preserve wealth. Consumption and Habit Risk (Liquor) Liquor stands in for discretionary consumption and addictive behavior that steadily drains capital. Regular, slowly accumulating expenses (alcohol, tobacco, luxury goods, or high-cost lifestyles) erode the saving rate and reduce the capacity to invest. From an economic standpoint, what appears as a small recurring cost compounds through opportunity cost: every rupee spent on nonproduc...
