Hello everyone,
I am from Germany and have read "The Millionaire Fastlane " and "Unscripted ". Furthermore, I have been watching the videos on MJ's youtube channel, from his straightforward, clear-cut messages communicated at the pool of his mansion to the animated videos to the thought-provoking Instagram posts in which he criticizes for example the idea of saving money for 50 years in order to retire rich.
Working in the financial industry, my expertise is especially the stock market and banking in general, since I have acquired a lot of knowledge and experience in this field. I know MJ has his own opinion on the stock market, on which I wish to comment in a moment. I am currently creating virtual portfolios where I am implementing my trading ideas, which, after finding investors, are issued in the form of open-ended certificates traded on the Stuttgart stock exchange. At the moment, one of my certificates, which is a portfolio of software companies, is in the process of being issued, since it met all the criteria, including the necessary amount of investment, etc.
I think MJ is very gifted when it comes to expressing ideas in a way that these ideas stay in your mind for a very long time. I've read "The Millionare Fastlane" several years ago and the concepts of his book are still continuously crossing my mind to this days. I am talking about life-changing quotes like "You see, when you unlock yourself from the handcuffs of time imposed by the Slowlane roadmap, you assign income to a system that leverages unlimited mathematics, and fast wealth becomes possible."
As I mentioned earlier, I also wish to comment on MJ's thoughts on the stock market. MJ wrote that you should control your financial destiny, not put it in the hands of some company or the stock market. Although having a lot of respect for MJ, I have a slightly different opinion in this case. As an investor, you need to make sure that you are investing in good companies which will also generate profits in the future.
When choosing these companies, you have to search for those with a sustainable business model and with a management which has an identical incentive structure as the shareholder. The management has to be just as sad as the shareholder when the stock dips and just as happy as the shareholder when the stock rises. In terms of sustainability, you have to choose a company with a business model which, even far in the future, will be in a position to generate positive free cash flow and a good yield. A business model which cannot be imitated by other smart companies in the next few years, thanks to patents or a household name. Maybe MJ was talking about people about that invest in the stock market without a detailed plan. In this case, I agree. You should only invest having a clear strategy.
An investor having a clear strategy calculates a fair value for every stock. As soon as the price of the stock exceeds this fair value, you sell the stock and viceversa. When you take a look at the low stock prices in December 2018, for example, you should have been rather happy than sad, since this was the perfect moment to buy stocks that fell below their fair value. This, however, has nothing to do with timing or technical analysis, but with focused work leading to a fair value, while the market simply decides if you should buy or sell the stock.
I am from Germany and have read "The Millionaire Fastlane " and "Unscripted ". Furthermore, I have been watching the videos on MJ's youtube channel, from his straightforward, clear-cut messages communicated at the pool of his mansion to the animated videos to the thought-provoking Instagram posts in which he criticizes for example the idea of saving money for 50 years in order to retire rich.
Working in the financial industry, my expertise is especially the stock market and banking in general, since I have acquired a lot of knowledge and experience in this field. I know MJ has his own opinion on the stock market, on which I wish to comment in a moment. I am currently creating virtual portfolios where I am implementing my trading ideas, which, after finding investors, are issued in the form of open-ended certificates traded on the Stuttgart stock exchange. At the moment, one of my certificates, which is a portfolio of software companies, is in the process of being issued, since it met all the criteria, including the necessary amount of investment, etc.
I think MJ is very gifted when it comes to expressing ideas in a way that these ideas stay in your mind for a very long time. I've read "The Millionare Fastlane" several years ago and the concepts of his book are still continuously crossing my mind to this days. I am talking about life-changing quotes like "You see, when you unlock yourself from the handcuffs of time imposed by the Slowlane roadmap, you assign income to a system that leverages unlimited mathematics, and fast wealth becomes possible."
As I mentioned earlier, I also wish to comment on MJ's thoughts on the stock market. MJ wrote that you should control your financial destiny, not put it in the hands of some company or the stock market. Although having a lot of respect for MJ, I have a slightly different opinion in this case. As an investor, you need to make sure that you are investing in good companies which will also generate profits in the future.
When choosing these companies, you have to search for those with a sustainable business model and with a management which has an identical incentive structure as the shareholder. The management has to be just as sad as the shareholder when the stock dips and just as happy as the shareholder when the stock rises. In terms of sustainability, you have to choose a company with a business model which, even far in the future, will be in a position to generate positive free cash flow and a good yield. A business model which cannot be imitated by other smart companies in the next few years, thanks to patents or a household name. Maybe MJ was talking about people about that invest in the stock market without a detailed plan. In this case, I agree. You should only invest having a clear strategy.
An investor having a clear strategy calculates a fair value for every stock. As soon as the price of the stock exceeds this fair value, you sell the stock and viceversa. When you take a look at the low stock prices in December 2018, for example, you should have been rather happy than sad, since this was the perfect moment to buy stocks that fell below their fair value. This, however, has nothing to do with timing or technical analysis, but with focused work leading to a fair value, while the market simply decides if you should buy or sell the stock.
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