Post From ESI Money
Millionaire Interview #67 Part 2 of 2
June 8, 2018 By ESI
What is your investment philosophy/plan?
Long-term, buy and hold index funds.
What has been your best investment?
My best investment has been index funds.
My wife’s best investment was Estee Lauder; she turned $500 into $5,000 over a 20-year period. Her hypothesis for the initial investment was that women will always spend money on cosmetics, regardless of their own economic condition and the status of the general economy. She was right!
What has been your worst investment?
Tried the “Dogs of the Dow” investing strategy for two years in the 1990s, and (on top of that) paid exorbitant fees to a brokerage firm to implement.
Post From ESI Money
Millionaire Interview #67 Part 1 of 2
June 8, 2018 By ESI
Here’s another interview with a millionaire as we seek to learn from those who have grown their wealth to high heights.
Recaps Note: When did they make their first million - how did they make it - how do they spend it and how do they maintain it? -- As you will see in these interviews some share more or elaborate more than others on their answers – We hope you find their stories interesting with insight and advice that you will use.
My questions are in italics and his responses follow in black. Let’s get started…
How old are you (and spouse if applicable, plus how long you’ve been married)?
My wife and I are both 44, and we’ve been married for 22 years.
RV/INTELLIGENCE ALERT - October 6, 2018
(Disclaimer: The following is an overview of the current situation based on intelligence leaks received from several sources which may or may not accurate. Other confirmed sources may also be included in this overview.)
The US-China trade war will be the key to breaking the US economy via supply of REE (Rare Earth Elements).
China is the dominant supplier of REE and the US Military is heavily reliant on REE.
Zimbabwe and the rest of Africa holds the future reserves of REE.
According to sources, China's cut off of REE to the U.S. will be the "break in the system" required for the transition to begin.
The SCOTUS confirmation vote is the part of the effort to restore the Republic as required under GESARA compliance.
ChrisC: Frank, I was reading the call notes from Wed and I thought of what a difficult position you are in. It is true, you strongly backed Abadi for Prime Minister, but that was based on the intel you had at the time. I was with you myself. I didn't think there was anyway anybody else was going to show up and gain Sadr's support and beat him out of the position.
You have to be sure of yourself when you are a leader otherwise the followers get scared and start to lose their way, and you do a great job of keeping a strong positive attitude. What we all have to realize is that the guys running this are NOT going to leak their plays out.
A very famous Confederate general named Stonewall Jackson nearly was killed in his early career as a leader from leaked intel, so he developed a technique for extreme secrecy even with his own generals not knowing where they were going while they were marching. His generals hated this but it kept them and the mission safe. He would march them to certain intersections and a rider with orders would be waiting there.
Post From Random Roger
How To Be Rich Without Being Rich
By Roger Nusbaum
The wealth gap is a serious issue but it can be overcome.
Marketwatch had an article titled Why only a tiny percentage of Americans benefit from Dow 25,000. It has a lot of charts that show how bad the wealth gap is in the US and the trends in place that show it getting worse.
I am a huge believer that the wealth gap is a very serious problem that makes the country far worse off. The top 0.10% don't spend enough to prop up the economy. Economic health depends on a much broader consumption base.
To be clear, I am not making an argument for raising taxes or any other form of redistribution for several reasons including it would be an effective distribution of capital. I don't have the answers for how to fix the problem from the top down but from the bottom up we all have the ability to help ourselves.