Making Money Minute with Ron Hiebert - Getting & Staying Wealthy
Getting wealthy and staying that way are two different skill sets. To get rich you need plenty of optimism and be a risk taker. To maintain riches requires paranoia and conservatism - the opposite traits, it took to build wealth in the first place. Most people are good at one but far less are competent at both. Bill Hwang was a hedge fund manager good at making a fortune. Then he unravelled and racked up $100 billion in losses. Bill Gates is one of the few good at both - making and keeping wealth. As an investor you need to have a clear picture of what you are good at and stick with it. Get help where your skills lack. For more information listen to our Making Money Podcast with Ron Hiebert and Graham Hicks at letsmakemoney.ca or CFCW.com.
