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1. If I had to work until I was 58 to get more than two weeks of vacation, I would seriously review the way I had done things.
2. Warren Buffet only made 22 – 25% and it was far from guaranteed – you have to wonder about the average mutual fund.
3. An aside, there was an woman who had worked as an employee at the IRS who noted that the estates of most wealthy contained stocks. I am not sure what she saved per year, but at her death I seem to remember her wealth was between 20-30 million – and about the same rate of return as Buffet.
4. There are really only two ways to wealth in business: opeational or financial leveage. If you want more money working with your hands, you have to employ more hands – at a profit.
5. As far as picking stocks goes, yes technology has been great, but for the last thirty or so years, the best stock to own was MO – maybe not anymore, but for years. This comes back to trading – no one has ever done it and made wealth – to quote Buffet, “So where is their money?” Ever notice you hear alot about Soros, but never a quote on his wealth? If you want interesting reading on this subject, read books about the traders of history – only Baruch did all that well. And, how is a guy who swings a hammer going to become an expert trader? Do any of you guys really beleive that I as an expert amateur can do as well as Blue framing, or Ed at trim, or Fusco at high end interior work? They how in the heck do you go up against the best minds in the world trained as a carpenter and make a buck? Beats me.
6. Enough. I learn from all of you, but two weeks vacation a year – geez, buy a lottery ticket.
7. Now, I have bought many of the books mentioned by Lycos, and I have profited. I shall sum up the E-Myth for all of us. “There is only one cause, and it is my cause.”
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Replies
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1. If I had to work until I was 58 to get more than two weeks of vacation, I would seriously review the way I had done things.
2. Warren Buffet only made 22 - 25% and it was far from guaranteed - you have to wonder about the average mutual fund.
3. An aside, there was an woman who had worked as an employee at the IRS who noted that the estates of most wealthy contained stocks. I am not sure what she saved per year, but at her death I seem to remember her wealth was between 20-30 million - and about the same rate of return as Buffet.
4. There are really only two ways to wealth in business: opeational or financial leveage. If you want more money working with your hands, you have to employ more hands - at a profit.
5. As far as picking stocks goes, yes technology has been great, but for the last thirty or so years, the best stock to own was MO - maybe not anymore, but for years. This comes back to trading - no one has ever done it and made wealth - to quote Buffet, "So where is their money?" Ever notice you hear alot about Soros, but never a quote on his wealth? If you want interesting reading on this subject, read books about the traders of history - only Baruch did all that well. And, how is a guy who swings a hammer going to become an expert trader? Do any of you guys really beleive that I as an expert amateur can do as well as Blue framing, or Ed at trim, or Fusco at high end interior work? They how in the heck do you go up against the best minds in the world trained as a carpenter and make a buck? Beats me.
6. Enough. I learn from all of you, but two weeks vacation a year - geez, buy a lottery ticket.
7. Now, I have bought many of the books mentioned by Lycos, and I have profited. I shall sum up the E-Myth for all of us. "There is only one cause, and it is my cause."