Every now and then, I find it important to step back and assess the big picture of what I am trying to do. Today, I wanted to share with you the main purpose of what I am trying to accomplish when I write articles here on my website or over on the investment advice website Seeking Alpha.
The short answer of what I am trying to accomplish is this: I want you to think like business owners. As a corollary to that, I want you to drown in income from your business ownership stakes. I want you to get richer, and see more money show up in your checking account, just for staying … Read the rest of this article!
Normally, I cover the “batting average” type of issues associated with wise stewardship of one’s money. Spending less than you earn, doing something with the surplus like diversifying into ownership interests in the most profitable companies the world has ever seen, and so on.
There is another component to it that is less often discussed–and this is the “home run” component, or the magnitude effect of your decisions.
You may have previously encountered the Warren Buffett quote that, when it is raining gold, it is better to reach for a bucket than a thimble. This advice was summed up well by Charlie Munger in Poor Charlie’s Almanack with the following quote on page … Read the rest of this article!