By Cresus Clay
How to be rich
Reading Warren Buffett biography will tell you exactly how he became rich, and one of the richest man on the planet.
Most individuals believe it's usually because he's such a great investor, and so did I before I read his autobiography.
But the reality is that many backers are likely as good as Warren Buffett, but none is as rich as he is. So what made the difference?
Reading Warren Buffett biography will tell you exactly how he became rich, and one of the richest man on the planet.
Most individuals believe it's usually because he's such a great investor, and so did I before I read his autobiography.
But the reality is that many backers are likely as good as Warren Buffett, but none is as rich as he is. So what made the difference?
Well before being a great investor, W.Buffett is a great entrepreneur.He started his first enterprises as a child, and he quickly proved gifted with that, making his first thousands of dollars by buying and leasing flipper machines...
Then when he turned into a great financier, reading Benjamin Graham book "The Smart Investor", he searched for techniques to leverage his talent.
If he had invested only his money, he would be possibly millionaire today, but definitely not the richest man on earth.
What he did then, is that he sold his talent to others:He made partnerships, where other stockholders put money in it, and he would get no fee for the 1st 4% revenue, but would get half the margin above.
That's how he started and leveraged his new business:More and more speculators trusted him and invested money, and he would get 1/2 of the profit of it above 4%
That's the reel snowball cascade!
So the truth about this story is that being a good investor will not make you rich, it's definitely necessary but it will take time. It's still the snowball cascade with compounds interest, but it's the slow way.
The effective way is to leverage your talent and be your own master.
It is not the easy way, it needs time, faith, efforts, tenacity, failure etc...
Then when he turned into a great financier, reading Benjamin Graham book "The Smart Investor", he searched for techniques to leverage his talent.
If he had invested only his money, he would be possibly millionaire today, but definitely not the richest man on earth.
What he did then, is that he sold his talent to others:He made partnerships, where other stockholders put money in it, and he would get no fee for the 1st 4% revenue, but would get half the margin above.
That's how he started and leveraged his new business:More and more speculators trusted him and invested money, and he would get 1/2 of the profit of it above 4%
That's the reel snowball cascade!
So the truth about this story is that being a good investor will not make you rich, it's definitely necessary but it will take time. It's still the snowball cascade with compounds interest, but it's the slow way.
The effective way is to leverage your talent and be your own master.
It is not the easy way, it needs time, faith, efforts, tenacity, failure etc...
That's how he started and leveraged his new business:More and more speculators trusted him and invested money, and he would get 1/2 of the profit of it above 4%
That's the reel snowball cascade!
So the truth about this story is that being a good investor will not make you rich, it's definitely necessary but it will take time. It's still the snowball cascade with compounds interest, but it's the slow way.
The effective way is to leverage your talent and be your own master.
It is not the easy way, it needs time, faith, efforts, tenacity, failure etc...
Explaining why It is best to start a business for keenness rather than cash, because money rarely comes in the 1st years, but rather after a long run.
That's the reel snowball cascade!
So the truth about this story is that being a good investor will not make you rich, it's definitely necessary but it will take time. It's still the snowball cascade with compounds interest, but it's the slow way.
The effective way is to leverage your talent and be your own master.
It is not the easy way, it needs time, faith, efforts, tenacity, failure etc...
Explaining why It is best to start a business for keenness rather than cash, because money rarely comes in the 1st years, but rather after a long run.