Profiles Of Some Successful Investors

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snarlyjack
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Profiles Of Some Successful Investors

Post by snarlyjack » Thu Jan 11, 2018 12:35 pm

Profiles Of Some Successful Investors.

Very interesting read.
As you read through the article if you highlight
the individual investors you can read about them
& how they made their millions.

Enjoy...

http://www.dividendgrowthinvestor.com/2 ... idend.html

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CyclingDuo
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Re: Profiles Of Some Successful Investors

Post by CyclingDuo » Thu Jan 11, 2018 8:04 pm

snarlyjack wrote:
Thu Jan 11, 2018 12:35 pm
Profiles Of Some Successful Investors.

Very interesting read.
As you read through the article if you highlight
the individual investors you can read about them
& how they made their millions.

Enjoy...

http://www.dividendgrowthinvestor.com/2 ... idend.html
Uh, oh. Trying to stir the pot with classic growth and income investing? :moneybag

Just imagine if all of those investors had the use of current technology where the brokerage webpage when, upon login, would inform them day in and day out that they were over-concentrated in certain holdings?

Or Personal Capital would caution them...

You have significant stock concentration risk!

Yet, in the twisted paraphrased words of Frank Sinatra "they did it their way"....
"Everywhere is within walking distance if you have the time." ~ Steven Wright

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Toons
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Re: Profiles Of Some Successful Investors

Post by Toons » Thu Jan 11, 2018 8:23 pm

Once again.
Hold for decades.
Reinvest the Dividends.
The Miracle Of Compounding At Work
For "You"





:mrgreen:
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee

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nedsaid
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Re: Profiles Of Some Successful Investors

Post by nedsaid » Thu Jan 11, 2018 8:52 pm

Snarlyjack, you are a throwback. That is you are interested in investment strategies that were popular with successful investors a generation ago. Buy and hold Blue Chip stocks and reinvest the dividends.

That was in the day of 8 1/2 percent sales loads on stock mutual funds. You paid 3% commission for a stock trade and 2% if you bought in higher quantities. Discount brokerages were unknown. The no-load mutual fund revolution didn't come around until maybe the late 1970's, index funds were in their infancy. So pretty much, you paid an 8 1/2 percent load if you wanted someone to manage a stock portfolio for you. If you wanted to manage your own portfolio, a trade could be a 4% to 6% round trip. The commission schedules encouraged you to buy in round lots of 100 shares. I couldn't always afford that so I paid a bit higher rates. Frankly, the dividends covered the commission costs and provided new money to invest.

Pretty much the buy and hold Blue Chip stocks reinvesting the dividends strategy was the Boglehead approach of the 1950's, 1960's, and 1970's. I bought my first individual stock in 1988 and both no-load active funds and index funds were available. So I am old fashioned, even for a 58 year old.

You are doing a variation of that old strategy using a combination of Vanguard Dividend Growth and Vanguard High Dividend and reinvesting the dividends. You don't have to bother with stock picking but you should get much of the same effect that the investors in the article did. And your approach will be more diversified than theirs but underneath the underlying philosophy is the same.
A fool and his money are good for business.

snarlyjack
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Re: Profiles Of Some Successful Investors

Post by snarlyjack » Thu Jan 11, 2018 11:09 pm

Thank You Nedsaid,

What happened is when I started studying the "Millionaire Next Door"
type of investors & "Secret Millionaires" I found out this is the strategy
they were all using. A lot of these investors are getting pretty old
now, but damn they made a ton of money (Millions).

But, your right it's the same strategy with "no commissions" &
very "low ER's". Some of these investors are making $10,000-$20,000
-$30,000 a month in dividend income. It's pretty unreal what they
were able to accomplish considering the commissions they paid and
the pay they made back in the day.

I think it could work like a charm & even better than the "old days".
It could quite possibly be the..."cat's meow"...

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stemikger
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Re: Profiles Of Some Successful Investors

Post by stemikger » Thu Jan 11, 2018 11:46 pm

Thanks for posting, I always like to read these stories. Did you ever hear about Ronald Read. I'll post the link below.

https://www.cnbc.com/2016/08/29/janitor ... rtune.html

Having said that, the one thing I notice with all these frugal multi millionaires is they don't own bonds. So, if one would have to buy the total stock or S&P index and hold own through some pretty rough times to get these super results. As for me, I'm 53 and kind of brainwashed into a balanced fund mind set. I hope that will get me to a place I can retire with dignity.
Choose Simplicity ~ Stay the Course!! ~ Press on Regardless!!!

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willthrill81
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Re: Profiles Of Some Successful Investors

Post by willthrill81 » Fri Jan 12, 2018 12:09 am

stemikger wrote:
Thu Jan 11, 2018 11:46 pm
Thanks for posting, I always like to read these stories. Did you ever hear about Ronald Read. I'll post the link below.

https://www.cnbc.com/2016/08/29/janitor ... rtune.html

Having said that, the one thing I notice with all these frugal multi millionaires is they don't own bonds. So, if one would have to buy the total stock or S&P index and hold own through some pretty rough times to get these super results. As for me, I'm 53 and kind of brainwashed into a balanced fund mind set. I hope that will get me to a place I can retire with dignity.
Investors' risk tolerance and many other factors are obviously at work, but I'm always amazed to see how quickly many on this forum (not saying you) are quick to deride a 100% stock allocation, given the historic record. Those with such an AA obviously need to be prepared to deal with the resulting volatility, but if they can, they are, historically speaking, very likely to come out ahead.
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings

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saltycaper
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Re: Profiles Of Some Successful Investors

Post by saltycaper » Fri Jan 12, 2018 12:33 am

You make your money by investing in what you know.
Bad advice, IMO.

People think they know, but they do not know.
Quod vitae sectabor iter?

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stemikger
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Re: Profiles Of Some Successful Investors

Post by stemikger » Fri Jan 12, 2018 1:00 am

willthrill81 wrote:
Fri Jan 12, 2018 12:09 am
stemikger wrote:
Thu Jan 11, 2018 11:46 pm
Thanks for posting, I always like to read these stories. Did you ever hear about Ronald Read. I'll post the link below.

https://www.cnbc.com/2016/08/29/janitor ... rtune.html

Having said that, the one thing I notice with all these frugal multi millionaires is they don't own bonds. So, if one would have to buy the total stock or S&P index and hold own through some pretty rough times to get these super results. As for me, I'm 53 and kind of brainwashed into a balanced fund mind set. I hope that will get me to a place I can retire with dignity.
Investors' risk tolerance and many other factors are obviously at work, but I'm always amazed to see how quickly many on this forum (not saying you) are quick to deride a 100% stock allocation, given the historic record. Those with such an AA obviously need to be prepared to deal with the resulting volatility, but if they can, they are, historically speaking, very likely to come out ahead.
I agree and by the way so does Warren Buffett and John Bogle. Looking back, I was kind of indoctrinated from the beginning when it came to the balanced index fund idea. I was 50/50 when I was in my 30s. At 53 I now sit at 60/40 and will most likely stay there for life. If I had to do it all over again, I would probably be 100% equities until my 40s.

I have flip flopped too many times, so the important thing for me is to stay the course at this point of my life.

When John Bogle was asked how he invests for his Grandchildren his response was he puts it all in the Vanguard Balanced Index Fund, he quickly adds looking back he would have been better off all in the S&P or even leverage it for them, but he didn't want to worry about it or even think about it and he didn't want them to worry about it either. I guess that is why I invest that way. I don't want to worry about it or even think about it and my wife who shows no interest in investing, if I predecease her I feel this would be the safest way to go.

Here is Jack talking about investing for his Grandchildren.
https://www.youtube.com/watch?v=y_tHhGtX-lA
Choose Simplicity ~ Stay the Course!! ~ Press on Regardless!!!

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CyclingDuo
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Re: Profiles Of Some Successful Investors

Post by CyclingDuo » Fri Jan 12, 2018 1:47 am

saltycaper wrote:
Fri Jan 12, 2018 12:33 am
You make your money by investing in what you know.
Bad advice, IMO.

People think they know, but they do not know.
Perhaps it should be more what you "understand" as opposed to what you "know".

http://www.dividendgrowthinvestor.com/2 ... urned.html

• Invest in what you know
• Keep it simple
• Buy companies with competitive advantages
• Be a patient long-term investor
• Live within your means
• Live life to the fullest ( volunteer, donate to worthy causes)


Not a bad list.
"Everywhere is within walking distance if you have the time." ~ Steven Wright

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aspirit
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Re: Profiles Of Some Successful Investors

Post by aspirit » Fri Jan 12, 2018 1:54 am

saltycaper wrote:
Fri Jan 12, 2018 12:33 am
You make your money by investing in what you know.
Bad advice, IMO.

People think they know, but they do not know.
Heres a prudent consideration : https://www.adamsmith.org/blog/economic ... to-trouble Great link above sjack!
Time & tides wait for no one. A man has to know his limitations.

msk
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Re: Profiles Of Some Successful Investors

Post by msk » Fri Jan 12, 2018 2:26 am

You cannot repeat successful investment strategies of yesterday. Unfortunately we go through life only once. What I have learnt over the past 4 decades:

Broad-market ETFs will get you to 7 figures by retirement age. Picking individual stocks is pure luck. You have to be on the inside to make a ton of $.

Studious investing (not just stocks but in whatever plethora of opportunities become available to you) and mitigating catastrophic risks can get you to 8 figures.

To get to 9 and 10 figures you have to take large risks (bankruptcy level risks) and also be lucky. It did happen to 2 buddies...

I have a number of my buddies in all the above categories. None of their life trajectories can be repeated, except the broad-market ETF route. For people still in their 30s I would advocate aiming at 8 figures if they have the temperament. BH principles applied in part afford them the space and time to gauge what opportunities they may come across. Those aspiring to 9 and 10 figures are wasting their youth using BH principles.

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stemikger
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Re: Profiles Of Some Successful Investors

Post by stemikger » Fri Jan 12, 2018 5:34 am

msk wrote:
Fri Jan 12, 2018 2:26 am
You cannot repeat successful investment strategies of yesterday. Unfortunately we go through life only once. What I have learnt over the past 4 decades:

Broad-market ETFs will get you to 7 figures by retirement age. Picking individual stocks is pure luck. You have to be on the inside to make a ton of $.

Studious investing (not just stocks but in whatever plethora of opportunities become available to you) and mitigating catastrophic risks can get you to 8 figures.

To get to 9 and 10 figures you have to take large risks (bankruptcy level risks) and also be lucky. It did happen to 2 buddies...

I have a number of my buddies in all the above categories. None of their life trajectories can be repeated, except the broad-market ETF route. For people still in their 30s I would advocate aiming at 8 figures if they have the temperament. BH principles applied in part afford them the space and time to gauge what opportunities they may come across. Those aspiring to 9 and 10 figures are wasting their youth using BH principles.
This was a very unique observation. Thanks for sharing it.

It reminds me of a book I have floating around in my head entitled the millionaire secretary. I know many legal secretaries that make what I make (let's just say $50K to $80K) yet they think they will never retire with a million. All they really have to do is max out their 401Ks in index funds for a long enough period of time and they will get there. Sadly many of them barley have $100K in their 60s.

Having said that, you are right, many here seem to think the different levels of wealth can all be obtained the same way, something we don't see brought up here, but if want enough to retire with dignity the only step you need to take is to invest in index funds throughout your working lifetime. If you want 8 figures and higher the path will have to be substantially different.
Choose Simplicity ~ Stay the Course!! ~ Press on Regardless!!!

J295
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Re: Profiles Of Some Successful Investors

Post by J295 » Fri Jan 12, 2018 7:38 am

MSK .... good observations.

We took the slow and steady route and retired at 53. Started kids on same path in junior high. It fit us well personality wise and with one breadwinner, stay at home parent, and three children.

With kids now older and established, we have suggested their allocation include 10% directed towards “unique opportunities.” These are the risky home run type of investments/business opportunities. We also encourage dreaming big and taking action early.

Financial resources are tools for all of us, not ends in and of themselves

snarlyjack
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Re: Profiles Of Some Successful Investors

Post by snarlyjack » Fri Jan 12, 2018 12:00 pm

Here are some more "secret millionaires" for your reading enjoyment.
Towards the bottom just highlight the name to learn more about them.
$188,000,000. How did you do that Jack Macdonald? Congrats...
The real question is: What can we learn from them?

Enjoy...

https://www.joshuakennon.com/add-jack-m ... s-charity/

randomguy
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Re: Profiles Of Some Successful Investors

Post by randomguy » Fri Jan 12, 2018 12:39 pm

CyclingDuo wrote:
Thu Jan 11, 2018 8:04 pm
snarlyjack wrote:
Thu Jan 11, 2018 12:35 pm
Profiles Of Some Successful Investors.

Very interesting read.
As you read through the article if you highlight
the individual investors you can read about them
& how they made their millions.

Enjoy...

http://www.dividendgrowthinvestor.com/2 ... idend.html
Uh, oh. Trying to stir the pot with classic growth and income investing? :moneybag

Just imagine if all of those investors had the use of current technology where the brokerage webpage when, upon login, would inform them day in and day out that they were over-concentrated in certain holdings?

Or Personal Capital would caution them...

You have significant stock concentration risk!

Yet, in the twisted paraphrased words of Frank Sinatra "they did it their way"....
The question is always do you want to take the risk. Have 500 monkeys each pick a stock. 10 of them will get insanely rich over the next 50-70 years (i.e. the monkey who bought say IBM in 1930 or Berkshire in the 70s).You will read about them in magazine articles and you will think they have some secret of success. You will not hear about the other 490 monkeys who did the same thing and had average or below average results

.

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CyclingDuo
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Re: Profiles Of Some Successful Investors

Post by CyclingDuo » Fri Jan 12, 2018 1:17 pm

randomguy wrote:
Fri Jan 12, 2018 12:39 pm
CyclingDuo wrote:
Thu Jan 11, 2018 8:04 pm
snarlyjack wrote:
Thu Jan 11, 2018 12:35 pm
Profiles Of Some Successful Investors.

Very interesting read.
As you read through the article if you highlight
the individual investors you can read about them
& how they made their millions.

Enjoy...

http://www.dividendgrowthinvestor.com/2 ... idend.html
Uh, oh. Trying to stir the pot with classic growth and income investing? :moneybag

Just imagine if all of those investors had the use of current technology where the brokerage webpage when, upon login, would inform them day in and day out that they were over-concentrated in certain holdings?

Or Personal Capital would caution them...

You have significant stock concentration risk!

Yet, in the twisted paraphrased words of Frank Sinatra "they did it their way"....
The question is always do you want to take the risk. Have 500 monkeys each pick a stock. 10 of them will get insanely rich over the next 50-70 years (i.e. the monkey who bought say IBM in 1930 or Berkshire in the 70s).You will read about them in magazine articles and you will think they have some secret of success. You will not hear about the other 490 monkeys who did the same thing and had average or below average results
I'm not in disagreement. Most of the links to those stories mentioned they all invested in similar types of portfolios (10-12). Of course, we don't know the full story of their investment careers outside of reinvesting the dividends and adding more shares to their positions over the years. Who knows if Clorox, JNJ, Microsoft, Coke, Apple, P&G, Altria/Phillip Morris, Home Depot, United Healthcare, Walmart, McDonalds, Boeing, Amgen, Chevron, etc... will all be here 40-50 years from now. I'd wager somebody reinvesting dividends, purchasing more shares along the way and just letting it grow through thick and thin would do fine even if some of them do not survive.
"Everywhere is within walking distance if you have the time." ~ Steven Wright

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nedsaid
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Re: Profiles Of Some Successful Investors

Post by nedsaid » Fri Jan 12, 2018 8:48 pm

stemikger wrote:
Thu Jan 11, 2018 11:46 pm
The one thing I notice with all these frugal multi millionaires is they don't own bonds.
Probably a 100% stock portfolio would be a rational portfolio but the volatility would be too much, even for me.
A fool and his money are good for business.

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stemikger
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Re: Profiles Of Some Successful Investors

Post by stemikger » Fri Jan 12, 2018 11:54 pm

nedsaid wrote:
Fri Jan 12, 2018 8:48 pm
stemikger wrote:
Thu Jan 11, 2018 11:46 pm
The one thing I notice with all these frugal multi millionaires is they don't own bonds.
Probably a 100% stock portfolio would be a rational portfolio but the volatility would be too much, even for me.
Me too Ned. Sleeping well is just as important.
Choose Simplicity ~ Stay the Course!! ~ Press on Regardless!!!

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saltycaper
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Re: Profiles Of Some Successful Investors

Post by saltycaper » Sat Jan 13, 2018 1:03 am

CyclingDuo wrote:
Fri Jan 12, 2018 1:47 am

Perhaps it should be more what you "understand" as opposed to what you "know".

http://www.dividendgrowthinvestor.com/2 ... urned.html

• Invest in what you know
• Keep it simple
• Buy companies with competitive advantages
• Be a patient long-term investor
• Live within your means
• Live life to the fullest ( volunteer, donate to worthy causes)


Not a bad list.
The idea of not investing in something you don't understand usually relates to how the security or fund functions. Knowing has more to do with familiarity, and that's what the story seems to focus on.
His investment thesis was simple, yet powerful. Mr Gremel figured people would always need medicine and women would always buy makeup.
This is investing in a company you "know." This fails over and over. The article even mentions that if he had invested in Rite Aid, the story would not have a happy ending. I would say he instead would be featured in an article, "Profiles of Some Unsuccessful Investors," but those tend to be written less frequently.

Then there's this gem:
He mentioned that he purchased shares for the dividends. He liked receiving a dividend check every quarter.
It is easy to know you are receiving a dividend. It's harder to understand what it means. That's why threads like this one keep popping up. This one's been surprisingly inactive. People must be tiring of the subject.
Quod vitae sectabor iter?

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stemikger
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Re: Profiles Of Some Successful Investors

Post by stemikger » Sat Jan 13, 2018 5:31 am

snarlyjack wrote:
Fri Jan 12, 2018 12:00 pm
Here are some more "secret millionaires" for your reading enjoyment.
Towards the bottom just highlight the name to learn more about them.
$188,000,000. How did you do that Jack Macdonald? Congrats...
The real question is: What can we learn from them?

Enjoy...

https://www.joshuakennon.com/add-jack-m ... s-charity/
Thanks for posting. I can literally read these stories all day. The only problem is I read about all of these folks. It's hard to find these. If anyone knows where I can find more please send me a PM. Thanks!
Choose Simplicity ~ Stay the Course!! ~ Press on Regardless!!!

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CyclingDuo
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Re: Profiles Of Some Successful Investors

Post by CyclingDuo » Sat Jan 13, 2018 9:25 am

saltycaper wrote:
Sat Jan 13, 2018 1:03 am
The idea of not investing in something you don't understand usually relates to how the security or fund functions. Knowing has more to do with familiarity, and that's what the story seems to focus on.
Original article: http://www.dividendgrowthinvestor.com/2 ... urned.html
"His investment thesis was simple, yet powerful. Mr Gremel figured people would always need medicine and women would always buy makeup."
This is investing in a company you "know." This fails over and over. The article even mentions that if he had invested in Rite Aid, the story would not have a happy ending. I would say he instead would be featured in an article, "Profiles of Some Unsuccessful Investors," but those tend to be written less frequently.

Then there's this gem:
Original article: http://www.dividendgrowthinvestor.com/2 ... urned.html
"He mentioned that he purchased shares for the dividends. He liked receiving a dividend check every quarter."
It is easy to know you are receiving a dividend. It's harder to understand what it means. That's why threads like this one keep popping up. This one's been surprisingly inactive. People must be tiring of the subject.
To the extent of our knowledge, in the video, he states (and take his words for what they are worth): https://www.youtube.com/watch?v=j3_QXe_pgyU

"I grew up in a different generation. The Bible had an 11th Commandment, save 10% of your earnings...in which we did."

"I bought shares in 10 or 12 different companies."

"My brother, who worked in a pharmacy, told me that a drug store was a good business. And that old people will always need medications, and women will always buy cosmetics."

So he bought shares of Walgreens, and as he states in the video - the thing just took off and he never sold it as he didn't need the money. Regardless of his strategy, it is - or was - what it was. He didn't buy Rite Aid. He bought Walgreens (among his basket of 10-12 stocks). Whether we use the word "know" or "understand" - his visit with his brother colored his decision to purchase shares of a drug store company. The premise that older people would need medications and women would buy cosmetics made sense to him.

You may want to focus on the failures - of which all investors have mistakes in their history - but the OP of this thread was most likely sharing the link to the article he found interesting to focus on the success of those linked in the article.

Added...

Buffett provides some of the best wisdom on dividends: http://www.businessinsider.com/warren-b ... nds-2013-3
"Everywhere is within walking distance if you have the time." ~ Steven Wright

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Re: Profiles Of Some Successful Investors

Post by snarlyjack » Sat Jan 13, 2018 11:56 am

Stemikger,

These rich Royals are not secret millionaires, however...
(I also studied the "Royals" to see how they were investing) very interesting.

From what I could tell, the Royals need money to support their
lifestyles & their dynasties. They started investing in companies
generations ago that throw off dividends (think Royal Dutch Shell).
They never sell off the portfolio but use dividends & interest to
fund the "castle".

They never sell off the "crown/jewels/castle" but they need a constant
source of income. A lot of their investments they have been sitting on for
generations (true buy & hold investors). Very interesting study... Do they
know something that we don't?

http://www.dailymail.co.uk/femail/artic ... xpect.html

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stemikger
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Re: Profiles Of Some Successful Investors

Post by stemikger » Sun Jan 14, 2018 10:35 am

snarlyjack wrote:
Sat Jan 13, 2018 11:56 am
Stemikger,

These rich Royals are not secret millionaires, however...
(I also studied the "Royals" to see how they were investing) very interesting.

From what I could tell, the Royals need money to support their
lifestyles & their dynasties. They started investing in companies
generations ago that throw off dividends (think Royal Dutch Shell).
They never sell off the portfolio but use dividends & interest to
fund the "castle".

They never sell off the "crown/jewels/castle" but they need a constant
source of income. A lot of their investments they have been sitting on for
generations (true buy & hold investors). Very interesting study... Do they
know something that we don't?

http://www.dailymail.co.uk/femail/artic ... xpect.html
Thanks SnarlyJack, it sounds right up my ally. I'lll definitely check it out.
Choose Simplicity ~ Stay the Course!! ~ Press on Regardless!!!

snarlyjack
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Re: Profiles Of Some Successful Investors

Post by snarlyjack » Sun Jan 14, 2018 5:00 pm

Stemikger,

Here are some more "Secret Millionaires" for us to study.

I think this study is very important & interesting.
What do they know that we don't?
(If you want to be successful...what does successful look like).

Enjoy this list of Secret Millionaires...

https://www.joshuakennon.com/?s=secret+millionaires

randomguy
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Re: Profiles Of Some Successful Investors

Post by randomguy » Sun Jan 14, 2018 6:30 pm

snarlyjack wrote:
Sun Jan 14, 2018 5:00 pm
Stemikger,

Here are some more "Secret Millionaires" for us to study.

I think this study is very important & interesting.
What do they know that we don't?. The
(If you want to be successful...what does successful look like).

Enjoy this list of Secret Millionaires...

https://www.joshuakennon.com/?s=secret+millionaires
There are no secrets. Seriously. The core is always save money, invest money, and wait a while. Nothing remotely secret. If you take concentrated risk, you can beat the market (or lose to it). And no they aren't magical stock pickers (i.e. new coke was the way to go. There are 100s of stories like that told about stocks. Most don't come true). You just hear about the winners. It is easy to be results oriented in life when you know the outcome.

snarlyjack
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Location: Montana

Re: Profiles Of Some Successful Investors

Post by snarlyjack » Sun Jan 14, 2018 7:10 pm

Randomguy,

I agree with you.

However, in our defense...you can't be a super successful investor
if you can't visualize it or know what it looks like.
It's called "Motivation". Crystalize your goals & go for it.

People would be more successful if they could see it &
become really motivated. Yes it is possible, yes you can
do it. The question (like always) will you do it?

Other people have shared how they did it... what will
your story be?

Personally, I' am a long term index investor...I think I can
be a super successful long term (buy & hold) index investor.

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