Sunday, November 30, 2014

Privileged Access

For those traveling home for the holidays and busy shopping, it was probably quite possible to miss a fabulous article in the Wall Street Journal on November 26th, page D6 entitled "The Bruiser and the Billionaire."

If you are new to investing, download it, print it, and keep it handy. For those old hands who have mastered the fundamentals, download it, print it, and keep it handy. It details one of the most important life lessons; the higher you ascend in life, the higher circles of access you can obtain. Football player Ndamukong Sun is taking advantage of this wholeheartedly, and so should every individual who hopes to Invest Like A Farmer; leverage your contact base and increase your knowledge exponentially.

Very few of us have direct access to Warren Buffet, Elon Musk, Tony Robbins, Mark Cuban or any of a number of gurus; this is not to say, however, that you cannot learn from them indirectly via their direct writings, interviews, and commentary. Barring a direct line, for the 99.9% of "average people" the best method is going to be getting your hands on derivative works.

Along those lines, some of the best financial books on the market now include: Berkshire Hathaway Letters to Shareholders, Money Master the Game, and Rich Dad Poor Dad.

Don't let anyone fool you, even in America it is difficult to transcend your economic class. Difficult, but not impossible; although economic mobility in this country has remained the the same (about 50% of Americans born into the lowest economic spectrum stay there for life), there are definite steps that one can take which make a significant difference.

Privileged Access is indeed one of them, but one which many of us can take advantage of at least indirectly via building our own resource rich knowledge base. I encourage readers of this blog to pick up copies of the above-mentioned books and read about the techniques and learn the core thought process of how, what, and why investment decisions are made.