Along with continuous education, "One Up On Wall Street" helped me transition from gambling in the stock market to long-term stock investing. One essential lesson - how to identify potential "ten baggers". Ten baggers are investments where the initial investment is multiplied by ten or more!
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THE BATTLE - PETER LYNCH VERSUS WARREN BUFFETT Years ago my friend Wendell Williams, told me I should invest in the Fidelity Magellan Mutual Fund. I had one problem; I did not know what a mutual fund was. Had never heard of Fidelity Investments. And was clueless how to open an investment account. Maybe I had several problems! But it was this suggestion that started my long-term investment journey and a path to becoming financially literate. I ...
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To achieve financial success, I identified successful investment mentors. If you aspire to be a great photographer, you want to learn from successful photographers. If you achieve financial freedom, make an intentional effort to learn from individuals you aspire to be: other wealthy and successful people.
Read MoreMy journey started when I was about 12. I was lucky to have two smart and wonderful parents. Mom taught me the value of savings and compound interest (future blog). Dad taught me the value of hard work and self-improvement. I remember the day we drove to the bank and opened a savings account. I was excited because I always enjoyed saving money!! Mom deposited some money, I think about $25. And I ...
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