There’s alot of things that you can invest yourmoney.
Back when Istarted investing in the stock market,it wasn’t an investment that I knew that much about. I had to learn.
The reason I chose the market,instead of more on real estate orclassic cars or coins or you look atrare stamps, is because I knew thatbusiness would be around for a while. Also, I wanted to see how businessesevolved. I was attracted to businesses, and I knew that business would have some staying power not to mentionyou could do it from anywhere.
If you goahead and invest in real estate, forexample, you can’t do it fromanywhere. So it had its pros and cons.
The thing for me was thelongevity. I knew that it had time and ifI learned how to do it, that’s reallywhere the big boys played. That’s reallywhere the big investing happened. It wasa quick turnaround regarding you couldget in and out of your trades reasonablyfast, or you could also liquidate alarge amount of stock reasonably quickly, andit was also regulated.
When you startlooking at cryptocurrencies when youstart looking at Bitcoin or many of theother currencies out there, they are alot less regulated, and it’s not aninvestment that I know.
Do I havepeople that I know and have heard aboutinvesting in rare stamps? Yes.
How aboutin rare paintings? Yes. I could haveinvested in a rare painting. Bought itfor 13,000 sold it for 450 milliondollars. Yes, it could have happened, butit didn’t happen because it wasn’t aninvestment I was interested in. It wasn’tan investment that I knew that muchabout, and it wasn’t the opportunity thatpresented itself.
Remember that opportunity presentsitself when you have the experience. That’s when you can capitalize on things.There are opportunities everywhere.You could go ahead and start your ownbusiness. You could go ahead and buy anexpensive painting. You could go ahead and less than wine or start your ownbusiness. And, of course, you havedigital currency. But for me, do I investin it? No, because I don’t know andunderstand the business well enough andI don’t remember it well enough to the pointof inputting a lot large portion of mymoney.
Could I go ahead and put $1,000,$10,000, $20,000, in it and see what happens?
Yes, I could do that, butnow we get into speculation.
Where do you draw theline between speculating on somethingand investing in something?
When I lookat stocks and my investments, I know thatmy return and a successive probability islet’s say 10 out of 12 months, or 11 outof 12 months. Even if I have a lot oflosing trades in one month, I know thatmore than likely I’ll make it up onother trades in the future because Icould hop around and go into other areas.
When it comes to digital currencies, Idon’t know that a track history that I can sayhey this has a potential for me to makemoney. 11 out of 12 months or this has apossibility for me to have a 60% return onmy investment over the next five or three years.
You could take achance but from my perspective, takingchances when it comes to investing isjust speculating, or it gets to thepoint of gambling. The risk toreward becomes less favorable.
Whenit comes to trading in the market orinvesting, you always want a betterreward than the risk that you have.
When I used to do martial arts muchmore, so there was a gentleman thatinvested in real physical coins.I started researching this becauseit was around the same time that I gotinterested in the market as well. I was alot younger and was attracted to thefinancial side of things. It drewme because he was driving around theFerrari.
When you see this person’scar, and I saw the person’s car anddriving it, and then you see him walk inhe’s trying to work out and get rid ofthe stress there. You look at all the social media accounts therethat he has. It was legitimate.
Seeing him pulling up with a Ferrari andthe stress that he had to come into work out to get rid of that stress.
Dealing in that industry, he knew what he was doing. Heknew what came about with it. He knew therisks associated with it, was I ready forthat. No, it wasn’t a business that I knewmuch about.
If you look at some ofthese rare coins and we starttaking a look at some of these, you have a coinExplorer. When you begin evaluatingthis, you can see that this seatedLiberty dollar 1870. As you startscrolling down and again, I don’t knowmuch about this, but as you start lookingthrough some of the sheets and some ofthe things that have been selling, you could see here on the price pointhere was right around 805,000. There are one for four hundredand seventy thousand dollars for a coinor a block of coins or something to thateffect.
As youstart looking at trades investments andgetting into things have tostart wondering, do you want to go into these things? When don’t you understand how the business works? If you take a look here at thiscryptocurrency world, coin index and youstart evaluating some of these thingslike a Bitcoin.
It continues todo quite well, and if you look at thechart, it’s doing fantastic andphenomenal. But remember that everythinghas a pullback in marketplaces. Itdoesn’t matter where you’re at. Thequestion is when are you going to begetting in it? You don’t know ifit’s going to run for another five years,ten years, fifteen years and then crash.It could be one year and crash. You don’tknow.
How doyou make money from it rather than justa one-time thing? Digital currencies are popping up all over the place, and you could dolight coin here as well and put yourmoney into that. It’s all thesecurrencies that continue to skyrocket, and the charts look impressive.
Asyou know in the marketplace, noteverything will go up all the time.
You need to make sure that you’recapitalizing and watching based on yourrisk. You’re watching your risk to reward.
When you start looking into this, a lot of people that want to make alot of money they do it in two differentways.
The first way is you want yourthing to come in your ship. You’re looking for a one-time occurrence,a one-time stock, a one-time whateverinvestment a Bitcoin. It could be a ruby deal, a diamond deal. They’relooking for a one-time payout thelottery effect the lottery mindset.
If you have this kind of mindset, it’snot a proper mindset to havebecause you’re not building anything.You’re not building a skill set, and you’relooking for a one-time occurrence due tohype due to whatever. That’s thelottery mindset.
The other approach ispeople who build assets who build theirskill sets their education who learn tounderstand the risks the risk management, the risk to reward concept. When youdo that, you’re able to trade effectively.
If you buildassets, you’re buildingyour connections. You’re learning aboutmarketing. You’re building your productpipelines.You’re building things withinyour business rather than let memake one product, and I’m going to makemillions of dollars from that. That’s nothow a business operates. Businessoperates on building multiple products. iPhone 3 3GS, iPhone 4, iPhone 5, iPad, MacBook Pro – they continue to build moreand moreproducts.
That’s what you need tostart thinking about. You’retrading, investing, looking at things. Howwell do you know and understand theinvestment? How well do you think you canprofit on this on a consistent basis?
Ifyou’re looking for a one-time occurrencein a one-time event, you can do that. You might become very rich, and I’m happyfor you. If you do but that’s justspeculation, and you may get lucky andmore power to you. If you do and youmight have a great life ahead of you.
But for the majority of people, it’s notgoing to work out that way. That’s notthe way that wealth is built. It’s notthe way that riches are made. It’s allcome down to building a solidfoundation. Building out your assetswhether that’s your skill sets, your mindsets. Building out all thetools that you need to do to make thingswork in the marketplace or yourpersonal life.
Can you invest init? Yeah but it’s more along the lines ofspeculation.
Can you become rich from it? Absolutely.
How long will the run last? You never know. Depends how manymore people pile on.
Can it crash? Yeah, itcould crash anytime. You never know, andthe same thing goes with the market, itcould pullback any time.
But where canyou be more consistent? What has longevity? What has stayingpower that’s typically what I look atfor my investments for my future growthon my money? I’d rather be a littlesafer than risky.
Again, a matter ofrisk to reward ratio and risk profilerisk tolerance. If you love jumping outof airplanes, you enjoy a little morerisky investments with your money andwant to throw a thousand dollarsand see what happens to Bitcoin. Maybe you’ll triple your money. Athousand goes to 3,000, but what I reallytake a million dollars and put it inthere and then perhaps it’ll go to threemillion, that’s great, but I wouldn’t do it with ninety percentof my money.
If you had 50 milliondollars, 100 million dollars and you’re putting one million it inBitcoin. Again, the same thing as for theaverage person, maybe throwing in acouple of hundred dollars, five hundreddollars, or a thousand dollars intoBitcoin and then seeing what happens.
Butthat’s not typically how wealth is built.
If you’re looking for that onetime effect, it may happen to you, butthe chances are that’s not the way itworks. In either case, if you aretrading investing in Bitcoin, rememberalways take profits in the strength justas you would within the marketplace– trading stocks or anything else. Rarecoins, stamps, gold framed art -doesn’tmatter what it is, and all things come backeventually regarding prices. Theyfluctuate.That’s what investments are all about.But if you want to enjoy owningmaterial pieces like framed art, you want to hang it, and it cost you 100million dollars, and of course, you coulddo that. But as far as investing goes,remember you’re looking for appreciation. You want to take those thingsslow and build it accordingly. You don’t wantto dump all your money in there becauseif they come back, things crash. Ifthere are issues, it can hurt youfinancially.
