Today, I want to take a step back from looking at commodities, geopolitics, financial headlines, and all the other stuff that so occupies our minds. I want to address, in as straightforward a way as I can, the basic idea that brings us together.
I want to help you make lots of money.
If you already have money, I want to help you make more money.
This is, of course, in pursuit of my own wealth.
It’s also true that I believe in Adam Smith’s “invisible hand.”
If you rule out theft, fraud, or government—which is really a combination of the first two—you’re left with voluntary transactions. And the only way to get what one wants through voluntary transactions is to create value and exchange it with others. This only happens if all parties feel they are gaining in the transaction. That’s even true of begging.
Misguided claims to the contrary not withstanding, market transactions are not win-lose propositions. If one party to a transaction thought it would leave them worse off, they wouldn’t do it (not unless forced, and we’ve already ruled that out). Truly free transactions are win-win deals. Both sides may not get all they want, but if they are both better off, value has been created. This is why free markets are both ethical and create enormous amounts of value for society.
Yes, the Don Quixote in me wants to sally forth, right wrongs, and make the world a better place. Guilty as charged.
But it doesn’t matter one bit if any of my readers share such goals.
All I need from them is their self-interest. If they want to make money and I help them, we both win.
You see, I have no intention of tilting at windmills in rusty old armor. I plan to arm myself with greater wealth than Jeff Bezos has, and use it more strategically than Elon Musk does.
Readers are welcome to see that as unrealistic, or foolish, or anything they want—as long as they see that I’ll work my behind off to help them make money.
How, specifically, does that work?
The obvious way is that my newsletter is a for-profit venture. The more clients I take on (I think of subscribers as consulting clients), the more money I make—which I can then leverage with my own speculative investments. The better I serve my clients, the longer they will continue consulting with me, compounding our mutual gains.
The less obvious way is that the more clients I have, the more clout I have with the companies I deal with. That gives me more power as an activist investor, to the benefit of all. It also increases my “deal flow.” It gets me invited to more private placements, seed round financings, etc.
This is, by the way, the answer to the challenge: “If you’re such a great speculator, why write about it? Why not just do it?”
I find it very interesting—but no coincidence—that the more clients I help, the stronger my ability to help them and myself becomes.
But the big goal here—the long-term strategy—is that the more millionaires I help make, the more millionaires I’ll have on my side going forward.
Those are the kind of clients I need to succeed at my “beat Bezos and Musk (and Rule and Casey)” goal.
Convincing millionaires who’ve made their money in other ways that they should work with me is not easy. Well, actually, the hard part is getting them to even consider it. Once they do, the rest is much easier.
But people whom I’ve helped become millionaires—they don’t need any convincing at all. Their most common question is: “Couldn’t you do this for me?”
This is me putting my cards on the table.
This is my master plan, if you will.
I want to stress again that you don’t have to agree with me or my goals. You don’t even need to like me or my goals. Doesn’t matter at all. All that does matter is that you believe I want to help you become wildly successful.
Of course, I can’t promise to make everyone a millionaire.
And I don’t. The bell curve says we can’t all be winners. And yet…
I know the method of speculation I’ve learned and refined over the years can make millionaires.
I’ve seen it. I’ve lived it. And it’s in my self-interest to make it happen for as many people as I can.
That’s all I ask anyone to believe.
Friday, October 5, 2:03pm, EDT, 2018