"Wade Slome", I am sure many of us are already aware of this name. But still i will introduce him to those who do not know anything about him. After the market crashed in 1987, Mr. Slome started trading in the share market with small stocks when he was only in the high school. He completed his MBA program from Cornell University in 1998. He is the man who has got US's one of the largest Mutual Fund in his pocket. At the age of 32 he is owning $ 20 billion dollar fund at American Century Investment. Hats off to him.
Yesterday I visited Wall Mart, and from there I purchased a book called "How I Managed $20,000,000,000.00", written by Wade Slome. I must say each and every investor should read this book. In this book he has shared his views on how to become an Investment Guru. Moreover, he has shared his talks with Eric Schmidt (CEO of Google) in his book.
According to him it has been confirmed that this period is a period of Recession and so each and every investor should apply the innovative and time-tested strategies before investing. I really liked one of his quotes from the book which I would like to share with all my readers. He said in his book,"Don't respond emotionally to the situational noise you hear daily. Don't react to fear. Open up your eyes and pay attention to the facts. The truth will set you free."
My main aim of publishing this post is that I wanted to share with all of you the key points which "Wade Slome" has written in his book to survive the Economic Recession.
1.) Don't make your judgment after hearing the reporter's. Money is made by anticipating what is next, not by thinking what has happened in the past. Always remember you are the best Judge.
2.) Leave your emotions aside while investing. Invest independently with a focus and clear object in mind. Buy your fear and sell your greed. It will definitely help you in taking the right decision.
3.) Keep in mind that the market is very efficient in the long run. Don't be aggressive, be patient while investing in Mutual Fund. Remember today's pain will be tomorrow's gain.
4.) It is very important for the Investors to improve their investment performances for survival of the fittest in the long run. This can be achieved only by Integrating indexed funds as well as exchange traded funds commonly known as ETF's.
5.) Always keep in mind this word " Fees". Brokers might be your friend and partner, but they will always expect a good income from you. More you pay, more will be your financial goals will be achieved.
6.) Whenever investing, keep in mind the GDP of Unites States. To increase the growth rates, it is important to push down the GDP. If you want to really succeed in this field try to get hold more of International Opportunities.
7.) Experience is an important factor not only in investing but any work profile. Always hire an experienced financial adviser for your investment plans.
8.) Remember Einstein's 8th wonder of the world, "the compound interest formula". Always utilize this method to manage your investment portfolios.
9.) Always pay your taxes on time. This will ensure the government that you are not playing any false games in the investment market. Though it is a bit difficult, but something is better than nothing.
10.) You know who is the best investor in the eyes of Slome? the one who makes more mistakes, learn from them and avoid repeating the same mistake in the future.
Slome said that he can only advice to the people, following his words or not entirely depends on you. Any person can be a successful investor only if he is able to achieve a successful investment planning and his/her financial goals.
What are you waiting for? Hurry up and book your copies of "How I Managed $20,000,000,000.00" as soon as possible available at Amazon.com