I don’t know how many of you are young out there, but I am going to give you some advice that’s going to make you rich.
I want you to become filthy stinking rich at an age where you can enjoy it.
I don’t want you to make the same mistakes that I made.
With that stated, I don’t want you to become so rich so that you can dominate other people, nor do I want you to become so rich that you quit your job and become lazy good for nothings.
I want you to become rich so that you can still work but with a little ease of mind.
In your life, you will have multiple chances to become wealthy.
Now, of course, I’m talking about you investing in other peoples ideas.
When it comes to yourself, of course you always have the opportunity to become wealthy.
In this article I’m talking about you putting otherwise idle money to good use.
In the mid 1980s, when I was young, I invested a sizable amount of money in Apple computer.
I invested in Apple computer because I used Apple computer. I knew that the Macintosh was a versatile computer, so I knew it was going places.
Alas, I sold the stock because I needed the money to accomplish other things in my life.
In retrospect, that was a mistake.
Of course, this was well before the iPhone was invented, so one could argue that no one could predict that Steve Jobs would return to the company that he helped found and turn it into a megagiant.
If I had kept my Apple stock, I would’ve been fabulously wealthy.
Likewise with Las Vegas Sands.
Around the time of the 2008 collapse I was investing in the stock market. At that time I still believed in the Great Casino on Wall Street. This was before the stock market became completely rigged. In those days the stock market was only halfway rigged. Ha ha.
Even though the stock market was bottoming out, and even though Las Vegas Sands was plummeting, I was buying.
I didn’t buy at the low which was $1.42 a share, but I came close. My last purchase was at $1.47 a share.
I had a lot of shares in Las Vegas Sands, so when it rose in value, which I knew it would, I made a pretty fair penny.
I knew that the experts were wrong on Las Vegas Sands because I would frequently travel to Las Vegas and stay at the Venetian.
You might say it was my home away from home.
While the pundits were down on Las Vegas Sands I could see that people were still flooding into the casino.
Plus, I liked the style of its owner Sheldon Adelson. Adelson wasn’t just investing in Las Vegas; he was one of the first Las Vegas hoteliers to invest in Macau, where he was making a fortune.
Sheldon Adelson was the funniest CEO you’d ever want to hear on a conference call.
If he hadn’t been a hotelier, he probably would’ve been a comedian.
So I bet on Sheldon Adelson, and I bet with my eyes, what was before me.
And I did will.
Stick to what you know when making an investment, and stick to what you can see before your eyes.
When you have to choose between the pundits and what is before your eyes, stick to what you can see before your eyes unless there is some compelling reason not to.
In both Apple Computer and Las Vegas Sands, I was investing in things that I used, things that I knew, things that I could check on.
You can do the same in your investing.
If you don’t believe in the product, if you don’t use the product, there’s a good chance that you won’t make a lot of money on it.
It’s that belief in the product that allows you to stick with it when others are against it.
That would be my main advice to you.
Along with that advice I now offer you the advice I did not follow at the time.
Set it and forget it.
Once you make your choice, stick with it to completion.
Don’t sell it.
Unless you have some compelling reason to sell it, don’t sell it.
Leave it alone. Let it grow.
This is what I want you to do.
This is the advice that will make you rich.
Now, I don’t advise that you bet the entire ranch on one stock.
Of course, you should diversify.
Of course, you should bet no more than you can afford to lose.
But if you have made a reasonable bet, money you can afford to lose, set it and forget it.
Now, this is the advice I am currently going to follow through on for cryptocurrency.
I can’t tell you why I believe in cryptocurrency. It’s just a feeling that I have.
I believe that cryptocurrency will eventually become what the gold rush was to many in the 1800s.
Even though the elites are beating down Bitcoin, there will always be a need for Bitcoin.
Bitcoin to me is nothing more than a registry of stored value where we agree not to dilute that value by printing up money.
As long as the elites print up money, Bitcoin will go up in value.
Bitcoin will have to survive because the elites will need Bitcoin also.
There will be too many elites who will see the value of Bitcoin.
When push comes to shove, the elites will have to adopt Bitcoin. They will have no other choice. There are too many advantages of Bitcoin over gold.
The same can be said for other cryptocurrencies like Ethereum.
Now, it may come to pass that Ethereum will not be used in the manner that Bitcoin is used.
The block chain is a powerful tool that can be used in so many areas of endeavor. It may come to pass one day that healthcare records and vaccine records may be stored on the block chain.
Ethereum may well be a carrier for the healthcare industry. In this manner cryptocurrencies, initially designed to store value of money, may be used to store value of other types.
There is no stopping this.
Decentralizing the storage of records over thousands if not hundreds of thousands of servers is far better than centralizing our storage of records on one or two massive servers.
This is one of the great technological innovations that has yet to be fully recognized by our collective consciousness.
As such, it is a great opportunity for young people to invest in.
Of course, the powers that be will always play their tricks.
But this is one game where do you still have a fighting chance.
When you do invest, as I am investing right now, put in an amount of money that you can afford to lose and then walk away from it.
Now, if you don’t believe in it, don’t invest.
But if you do believe in it, invest and walk away.
Do not check the value or the price of your investment every day.
Go live your life.
Copyright 2021 Archer Crosley All Rights Reserved