“Why We Want You To Be Rich” By Donald Trump and Robert K.

After reading many books in personal growth and development this has to be one of my favorites! There are many great points and Ideas that very much now value. As you guys that follow me know, I’ve made a lot of the money I Have accumulated from the stock market. Recently I Decided i wanted to focus Capital Endeavor on other potential opportunities and dive into Real Estate. So I took about half of my money to an Investment bank and an Investment broker I very much Love. Soon after that, about 3 months I lost 40% of the money I had in Play (Where are the stop losses?), It was in oil and it was very much unpredictable in their defense. During this time was also the time i was reading this book, one of the quotes being “If you want to feed a man for a day, give him a fish, teach a man to fish and you will feed him for a lifetime” However what happens when we live in a society that want to sell you fish? It then went on to mention that only in Wall St. Do People drive in Rolls Royce to receive financial advise from someone who took the bus. Now I do not know how much the guys make at my investment bank at all and although my broker is one of my favorite people, it got me thinking am i selling myself and my trading skills short turning over my money to someone under the assumption that their better qualified than me due to their age and title. I also know that my broker left a successful background in real estate to become a financial advisor however was suggesting I focus on my Real Estate deals to build my capital and let him handle my money.

Now I will say in theory this would be great assuming that this institution can go long and short on positions, invest in currency, futures, and if he did what i would be doing with my money the plan would work out great for 2% a year. However I don’t know if this institution is limited as it is not a hedge fund Or if I just don’t have enough capital for him to pay that much attention to my account, which I understand and would ask him to take the opportunity cost if it was not beneficial for him, although if thats the case he should give me my money back and just be friends.

One thing I know for sure is that, it would not have happened to me if it was sitting in my direct access brokerage account with Interactive Brokers. I would have ad stop losses and auto repurchase demand zones and miss a great deal of the dip, and even though I Know it will come back to, to me it is still wasted opportunity cost as could have stopped out and bought back just as many shares at a 40% lower price. However it was a priceless learning lesson I had when this happened in combination with reading this book. It me realize that I became comfortable and almost negligent or i was negligent on my investment account. I did and I do have the time to invest every morning to place my own trades and do my own reading and analysis, I do know what I am doing and I invested a great deal of time and money learning technical analysis and platforms. As stated in the book Americans have gotten very dependent and very comfortable, Dependent on a job, dependent on social security, dependent on a financial advisor making the right decision and completely neglected personal responsibility. It was not his fault oil crashed, it was not his fault i did not hedge my position. Its my money and as an adult it is my responsibility to take care of it and protected likewise. So this book spoke to me a time i needed it, however i feel its point in this chapter is very relevant to our American Culture…