I think when I was in my 20s, there was a certain reckless abandon that helped me win big on certain deals (deals that I wouldn't do now that i am older and more cautious) and taken on big losses.

We lost control of the gold price because we printed money and ran large trade and current account deficits starting in the 1950s and spent recklessly all throughout the 1960s, culminating in a run on the dollar and massive dollar redemptions for gold.And I understand the whole idea that velocity falling is the reason rates have been falling since 1980.

So I suspect it is significantly more, but I could be wrong).But no matter how much it is, my main point was that it's reckless to suggest a newbie with newfound wealth should invest his or her entire portfolio in a single asset class (whether it's real estate or anything else).

Being "overleveraged" is by definition - reckless!

Now, down here, we get tickets for unsafe towing, overloading, impeding traffic, reckless endangerment, driving too fast for conditions and littering or illegal dumping!

But then again what are we protecting from... think realistically about the risks, too, as my driving has been far more risky than landlording on  a small scale (hit twice by reckless drivers in 13 years but never sued for lanldording knock on wood, not even an injury double knock).. 

I also enjoy the fact that I can occasionally toss some info out that might be helpful to someone else, as you can really lose your *** in this field if you're reckless or foolhardy. 

He is also fed up with it, he isn't partnering up with reckless relatives who have pressured him to do risky decisions with absolutely no logic.  

That's not to say you should do something reckless, but do something that you know is working for other people.  

For anyone to be culpable for any loss suffered by another, they must have acted in a reckless manner or have been negligent, acts of God such as  storms or natural disasters are not events mortals are culpable for, speak to your clergy for guidance.