In a recent broadcast of Mad Money, Jim Cramer did an analysis of several retailers who cater to the affluent. One of these was Tiffany’s. Jim indicated that the company’s stock price, of course, was highly correlated with its sales and ultimately its profits. Further, he proposed that the performance of this upscale retailer is highly correlated with profits and …
Mrs. Lang, my first Sunday school teacher, often said: You should always do your best. Everything you do in this life is recorded in a big book. . . . and some day in the next life you will be judged on how you behaved on this earth. And success often goes to those …
News stories and editorials which define the rich as “evil” greatly outnumber those which tell the other side of the story. Even those newspaper stories that do mention the good deeds done by the rich are rarely on the front page. As an example, consider the following newspaper [print version] headline: As a Disease-Fighting Fund Struggles, Bill …
Billionaire’s Big Donation Receives Small Press Coverage Read More »
The original title of The Millionaire Next Door was That’s Why They’re Wealthy. One of the main reasons that they are wealthy is that they live in an easily affordable home. I have found that when millionaires made their first home purchase, the ratio of the purchase price over their annual household income was just 1.49 [median]. And today they have seven times …
Stories about the so-called “evil rich”, the ever controllinig 1%, are rampant in the news. But the good deeds of the rich, if reported at all, are many times buried in the back pages. Take for example the 3″ x 6″ article published in The New York Times, “Two Cheers for the Malaria Vaccine.” …
Unhappy 99%ers: Sell Your US Citizenship to Chinese Millionaires Read More »
Just prior to completing The Millionaire Mind, I received a letter that was ideally suited for inclusion in the chapter about success factors. I have read your most recent works. I have an extremely high mathematical aptitude. I hold advanced degrees in advanced math. . . . I’m currently in transition. Eventually I want to pursue …
In a recent article in The New York Times, Andrew Ross Sorkin explored Steve Jobs’ motivation for success. Mr. Jobs has clearly never craved money for money’s sake and has never been ostentatious with his wealth. He took a $1 a year salary from Apple before stepping down as CEO. . . . Mr. Jobs, a …
What is the purpose of government? In America it is supposedly to protect the rights of its citizens. Well, tell that to our fellow citizens at Odyssey Marine Exploration, an American company. According to a New York Times article, in 2007 Odyssey recovered an estimated $500 million in gold and silver coins from a Spanish …
Most self made millionaires rank high on the tenacity scale. They report that this characteristic was developed in part during their secondary school and college experiences. The majority (76%) of the millionaires I surveyed report that tenacity and hard work account for why they consistently achieve at a high level. Plus, as I said in The Millionaire …
The headline today in The New York Times says it all: “Immigrants Make Paths To Suburbia, Not Cities.” The implication of the article is that the immigrants referred to are blue collar workers who sought work in the construction and food service industries. However, missing from the article is any discussion of the high concentration …