The World's Best Investment
It's mind blowing how humans spend 2087 hours (on average) a year working for money but forget to spend even one hour learning how to invest and grow that money.

You will never be good at anything you don't pay attention to. Pay attention to money. It may be the root of all evil but it's also the root of your freedom.
Tai Lopez Nov 04, 2014
Today I was giving a talk to a few hundred people on the live VIP call about today's Book-Of-The-Day, "A Few Lessons For Investors And Managers" by Peter Bevelin.
 
 
If you could only own one book on money and financial freedom, own this one. There is a reason Warren Buffet is considered the world's greatest investor.
 
Go straight to the top in who you learn from.
 
Buffett is the top.
 
This is not a book that I will try to summarize in one email or article.
 
But here are a few powerful concepts:
 
1. What is investing?
 
"Laying out cash today in order to get more back in the future."  Sounds simple. But think on the implications. That means you must have a level of stoicism to forgo present pleasure for future gain. This is not a trait that comes naturally to any human. If you were lucky your parents taught you to eat dessert after you ate your broccoli. Science now proves that this type of rewiring of the brain (the ability to postpone pleasure) must be done if you want any chance at being someone who accumulates real wealth.
 
2. Knowing the price to pay for an investment:
 
"The value of anything (stocks, bonds, business, real estate, gold etc) is determined by the cash inflows and outflows, discounted at an interest rate, that can be expected over the lifetime of owning that investment... So all financial assets become economic equals... Neither the advent of the steam engine, the harnessing of electricity nor the creation of the automobile changed the formula one iota - nor will the internet. Just insert the correct numbers, and you can rank the attractiveness of all possible uses of capital throughout the universe."
 
Buffet is saying you must rise above the crowd. The crowd is always asking "What's the next, best, great investment?" That is a fool's game. There never will be one. The fundamental value is neutral. Gold isn't a better investment than real estate or the stock market. It's not worse. Tech stocks or oil and gas isn't better or worse than owning restaurants.
 
It all depends on other factors...
 
The devil is in the details. People will make money (and lose money) in real estate, gold, stocks, bonds, businesses, oil, entertainment, art, clothing, food, hotels, restaurants, cars, and even in magazines.
 
If you don't believe me look at the Forbes list of the world's wealthiest self made people. They made it in all kinds of different ways.
 
There is no ONE investment.
 
That's the lottery ticket mindset that will make you poor. 
 
You must be objective, cool-headed, asset neutral.
 
The money is made in other ways. 
 
Tomorrow I will share the real ways wealth is created.

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