 |
|
| Vol.3.56 | |
Division - Not Part of the Visionby Vince PoscenteAuthor of The Ant and the Elephant, Invinceable Principles and The Age of Speed Wise people show up at the best times. Meet Ian Spolding from Australia. Ian is a self-made millionaire and a good ol' Aussie bloke. This is the kind of guy not wrapped up into ego. He wears jeans, a comfortable shirt and comfortable deck shoes as his daily attire. One day he made up his mind to go to a car show to buy a Ferrari. The sales guy sized up Ian then treated him poorly. Let's just say the guy put ass into sales associate. Ian walked over to the Aston Martin booth, wrote a check for $400,000 Australian dollars then walked the receipt back to the Ferrari booth. After locating the sales rep and his manager, Ian held up the receipt and pointed out their tactical error. Last night, Ian and I were visiting as we sat around my fire pit. The conversation drifted to wealth building. He said something fascinating. "It's not about addition or subtraction. It's about multiplication. My entire philosophy around money has been this: Once I get money I look for ways for it to multiply, not just to be added to. The bigger the multiplier, the better it is." I asked Ian about division and he said it is not remotely part of his vision. He said that he is all about opportunity to multiply wealth. Need evidence? Look no further than Warren Buffet, the Oracle of Omaha. Mr. Buffet has put billions of personal savings (outside of Berkshire Hathaway funds) into the stock market in the last few weeks. In an article from October 17th, 2008 he states, "A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful." In our markets, fear is everywhere.
My wife and I, along with savvy investor friends all believe in the power of optimism, sound companies and the beauty of multiplication. We are investing. Let me leave you with more of Warren Buffet's perspective. "...fears regarding the long-term prosperity of the nation's many sound companies make no sense. These businesses will indeed suffer earnings hiccups, as they always have. But most major companies will be setting new profit records 5, 10 and 20 years from now." One of the principles in the Age of Speed is to use the oncoming force to your advantage. Fear is the oncoming force and the time is now to use power of multiplication to your advantage. Until next week it’s full speed ahead,
|
Email This Full Speed Ahead Article to a Friend 
|
© 2010 Vince Poscente. All Rights Reserved. |
"Let me be clear on one point: I can't predict the short-term movements of the stock market. I haven't the faintest idea as to whether stocks will be higher or lower a month - or a year - from now. What is likely, however, is that the market will move higher, perhaps substantially so, well before either sentiment or the economy turns up. So if you wait for the robins, spring will be over," says Mr. Buffet regarding multiplying wealth.