If you want to learn how to make money, figure out how successful investors do it… Then, do what they do.
How do rich people continue to make money?
What do they do differently?
They do their homework.
And I’ve found that a lot of the real wealthy people are very much contrarians.
Maybe it’s the sense of self-confidence that helped them be successful in business or whatever they were successful in.
Wealthy people have the self-confidence to buy when there’s blood in the street. Now it’s not that bad. But, you know, when things are a little out of favor, and they’re high-quality that’s the time that you want take a position.
That’s the hardest thing to do.
Rch people…
- Do their homework. They understand their investments. And they…
- Avoid the herd mentality. They are good contrarians.
These ideas might seem simple. But they’re harder to put to work than you might think.
Buying against the crowd is tough. From personal experience, I’ve learned that it’s unsettling when you’re the only one buying like Van was when he bought that condo. But that’s often when you have the most upside potential. You have to trust your experience and your homework in those situations.
These are two ways that rich people continue to make money, for years and years.