Hi all-
I just finished reading "The Millionaire Fastlane " (just few pages left). It is probably one of the best books on the subject and I had thought about many concepts that the book clarified. I was a "sidewalker" not that long ago, transitioned into a "slowlaner" and I am on my way to "Faslane" NOW. The journey has started.
Anyhow, Demarco seems to be inclined more towards entrepreneurship, my inclination is towards stock market. He does mention that Fastlaners use stock market for "income generation" & not for "wealth building". Fastlaners do not do jobs (unless CEO and other executives, which also take years to reach to).
I have taken an "Entrepreneurship course" and done a reasonable study on the the topic. Entrepreneurship can build wealth, sometimes huge, but I think Wall street can control these IPOs/startups/public companies on a higher level regardless. Anyway, that's not the point. The point is: My passion seems to be developing towards "Portfolio Management (PM)" or "Hedge Funds (HF)" (more inclined towards the later). My ultimate goal is to earn millions, while enjoying the process. My HF/PM interest is not just based on "Do what you love" philosophy, but a simple matter of choosing a particular field versus other, while both leading you to riches. I think you'll agree that "Portfolio Managers" and "Hedge Fund Managers" can earn Millions. It might be a long road 5-10 years on more, but even the entrepreneurship is not a small journey for a beginner.
Another important aspect is that even if you make millions as an entrepreneur, you'll for sure need to develop your financial knowledge anyway to invest somewhere (Commandment of Control). This particular aspect gives me in an edge if I am in HF/PM versus entrepreneurship.
IN the HF/PM category, I might have to do the following:
1. Get an MBA and take a loan of ~100K.......this leads to parasitic debt.
2. Begin with Research analyst/associate "JOB".....This "JOB Profile" is obviously slowlane.
Both the items above violate concepts mentioned in the book, hence I am wondering how would you approach it? Do my dreams of pursuing a career in PM/HF converge with the Fastlane approach suggested by DeMarco. I am sorry if this has already been discussed/explored. I did try to search the forum, but could not find specific information.
Thanks.
AZ
I just finished reading "The Millionaire Fastlane " (just few pages left). It is probably one of the best books on the subject and I had thought about many concepts that the book clarified. I was a "sidewalker" not that long ago, transitioned into a "slowlaner" and I am on my way to "Faslane" NOW. The journey has started.
Anyhow, Demarco seems to be inclined more towards entrepreneurship, my inclination is towards stock market. He does mention that Fastlaners use stock market for "income generation" & not for "wealth building". Fastlaners do not do jobs (unless CEO and other executives, which also take years to reach to).
I have taken an "Entrepreneurship course" and done a reasonable study on the the topic. Entrepreneurship can build wealth, sometimes huge, but I think Wall street can control these IPOs/startups/public companies on a higher level regardless. Anyway, that's not the point. The point is: My passion seems to be developing towards "Portfolio Management (PM)" or "Hedge Funds (HF)" (more inclined towards the later). My ultimate goal is to earn millions, while enjoying the process. My HF/PM interest is not just based on "Do what you love" philosophy, but a simple matter of choosing a particular field versus other, while both leading you to riches. I think you'll agree that "Portfolio Managers" and "Hedge Fund Managers" can earn Millions. It might be a long road 5-10 years on more, but even the entrepreneurship is not a small journey for a beginner.
Another important aspect is that even if you make millions as an entrepreneur, you'll for sure need to develop your financial knowledge anyway to invest somewhere (Commandment of Control). This particular aspect gives me in an edge if I am in HF/PM versus entrepreneurship.
IN the HF/PM category, I might have to do the following:
1. Get an MBA and take a loan of ~100K.......this leads to parasitic debt.
2. Begin with Research analyst/associate "JOB".....This "JOB Profile" is obviously slowlane.
Both the items above violate concepts mentioned in the book, hence I am wondering how would you approach it? Do my dreams of pursuing a career in PM/HF converge with the Fastlane approach suggested by DeMarco. I am sorry if this has already been discussed/explored. I did try to search the forum, but could not find specific information.
Thanks.
AZ
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