I love to read and learn new things. My bookshelf at home has plenty of books on poker and baseball but also a number of books on finance and investing. A book that I have read several times and continue to review is Think and Grow Rich by Napoleon Hill. It was first published in the 1030s but still holds true today. It is not flavour of the month. Times change but human nature does not. The book speaks to our values and not to pop culture which is why it has withstood the test of time. It doesn’t tell you how to make money but the mindset you need to get there. If you haven’t read it, I strongly endorse it and it should be read by our kids and young adults starting out.
The roadmap is simple and direct. Everything starts with a thought or an idea. It leads to a goal. From there turn that goal into a plan. Implement that plan with action. And finally, be persistent and don’t quit. It seems incredibly simple but sometimes in life we need simple, straight talk to sift through the complexities of life. It’s very easy to get distracted with 24-7 news channels, social media, and constant messages from people having their own agenda.
My website, twopercentgoal.com, is based on Napoleon Hill’s roadmap. My idea – try to double your money in the stock market virtually risk free. My goal – find stocks poised to climb 2% within a week. My plan – use technical analysis with multiple tools that historically does this. My action – buy (or short) those stocks on that day the signal is given with a disciplined, diligent approach. My persistence – review the charts and repeat the process daily. There are some passages in Napoleon Hill’s book that have always resonated with me. “Vague goals produce vague results”;” A quitter never wins, and a winner never quits”, and finally, “The world doesn’t pay you for what you know, the world pays you for what you do”. Thank you, Mr. Hill, for sharing your wisdom and having a positive impact on my life.
Cheers,
Al
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