How to Accumulate Wealth–Graceland Updates

Here are a couple of bullet points that stuck out to me from the Nov 1oth issue of Graceland Updates.  These points really emphasize the fact that we need to change our thinking from that of dollars to that of VALUE.

 

  1. Get more. Conventional investor thinking involves two market actions; buying and selling. The buying for most is initiating a new long position, and the selling is either booking profits or losses on that position.
  2. The asset gatherer/wealth accumulator (me) doesn’t have that mentality. I want more dollars, more gold, more silver, more shares of GDX, more GDXJ, more wheat, more corn, more uranium, more natural gas.
  3. I don’t really look at a move in price as good or bad for my market positions. Price moves always offer you more of something. Take more, not less, when offered the choice.

 

Advertisements
This entry was posted in Investment/Financial and tagged , , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s