Why Build a Business?
Inspired By CEO ·
There are three reasons for building a business more than to simply create an asset
- “To provide you with excessive cash flow” In the book How to Be Rich, J. Paul Getty states that his first rule is that you must be in business for yourself. He goes on to imply that you will never get rich working for someone else. One of the primary reasons people started so many businesses were that they had excessive cash flow from the other businesses. Normally, they also had the time because his businesses required minimal effort on the part. This allowed them to have the free time and extra money to keep investing in more and more assets tax-free.
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Rules of Investment Number Four
Inspired By CEO ·
Basic rule number four is, it is the investor itself is really the asset or the liability.
The investor is the asset or liability not the investment or security. I often hear that people say, ‘Investing is risky‘ it’s the investor who is risky. It is ultimately the investor who is the asset or the liability. I have seen many so-called investors lose money when everyone else is making money. I have sold businesses to many so-called business people and watch the businesses soon go bust. Read more
Why Investing Is Confusing??
Inspired By CEO ·
First of all, investing means different things to different people. That is why it seems so confusing? What most people call investing is not really investing? People are all talking about different things yet they often think they are talking about the same thing.
No One Is an Expert at Everything
Investing means different things to different people. There is no one person who can possibly be an expert at the entire subject. There are many different investment products and many different investment procedures.
Everyone Has a Bias
A person who is good at stocks will say, “Stocks are your best investment.” A person who loves real estate will say, “Real estate is the basis of all wealth.” Someone who hates gold will say, “Gold is an obsolete commodity.”
Then you add procedure bias and you really become confused. Some people say ‘Diversify. Don’t put all your eggs in one basket,” and still others such as Warren Buffet, America’s greatest investor, says, “Don’t diversify. Put all your eggs in one basket and watch that basket closely.”
All of this personal bias from so-called experts adds to the confusion that shrouds the subject of investing. Read more
Warren Buffet’s Mistake
Inspired By CEO ·
Warren Buffet, America’s richest investor, is known and respected for his company Berkshire Hathaways. Today, Berkshire Hathaway’s share price is one of the highest priced company shares in the world. While many investors value Berkshire Hathaway’s stock, few people realize that acquiring Bershire Hathaway was one of Warren Buffet’s biggest investment mistakes. Read more
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