Showing posts with label David Merkel. Show all posts
Showing posts with label David Merkel. Show all posts

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.