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Stocks vs. Real Estate vs. Gambling vs. Running a Business
Thanks everyone for the "brainy" discussion on this interesting and engaging topic.
From both personal experience and studies, the key to everything in life - including the invesment markets - is to find a way to give yourself an advantage ... and then keep playing that advantage over a long-period of time. This requires discipline and patience, both rare qualities in mankind. Combine these qualities with risk and money management ... along with the the magic of compounding any rate of return (the Eigth Wonder of the World) and some good luck now and then ... and you have a very good shot at accumulating a net worth of one million dollars or more. Most people go through life, unfortunately, by simply "shooting from the hip." With no plan, they are ever on the roller-coaster and usually end up at the same place the ride originally started. Thus, no plan, no profits. That's the reason I believe in a "systems approach" to business, and especially in the markets. In the stock market, for example, I have reviewed tested systems that give you a 1 to 2 percent advantage over a pure "buy and hold" strategy. To the get-rich-quick crowd, this may not seem impressive. But to the intelligent crowd who understands the magic of compounding (and managing risk ... this "slight edge" is all you need to consistently outperform the market and eventually get rich. While some people say you can't beat the market averages with stocks or real estate, research proves otherwise. Whatever your investment of choice -- be it the stock market or real estate -- I believe all of us would be wise to heed the advice of Warrent Buffett: "You should buy intestments like you buy groceries: wait until they go on sale." Whether your investment time frame is three years or thirty years, this simple advice (a "system" perhaps, but a "plan" for sure) will like pay above average returns. Robert Campbell Timing the Real Estate Market |
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