Sunday, January 25, 2009

"Rich Like Them" book review

David Merkel reviewed the book "Rich Like Them", authored by Ryan D'Agostino by summarizing the following points:

* Find opportunities that others don’t see.
* So-called luck favors those who are prepared to profit from volatility.
* Love what you do. Do what you love.
* Take risks. If you work smart and hard, those risks will be reduced.
* Be humble. Realize what you can’t do, and work on what you can do.

The author interviewed mostly business owners door-to-door in the wealthiest zip codes of America, and came up with those common elements. The first point definitely favors contrarians, and as investors, the other 4 apply.

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