If you look at any of the wealthiest people in America, they have probably gone through these 8 steps. If followed correctly, these steps will put you on the path to more wealth than you can ever imagine. http://bit.ly/2oMxJk3
Eight Steps: 1, Find a business; Focus on industry that you already have capability to understand 2, Find the value of that business; (meaning, moat, management) 3, Wait the business to be on sale; 4, But when it's on sale (buy a lot, not tiny); Buy when people are on fear 5, Behave like the owner of the business; Care about the values of the business; Don't own too many business 6, Stockpling; Core numbers: Earnings growth, sales growth, book value growth, cash flow growth, return on investment capital; Check Debt 7, Sell when fundamental changes also when price goes to high 8, Repeat 1~7.
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Big 5 numbers
- Earnings growth
- Sales growth
- Book value growth
- Cash flow growth
- Return on investment capital
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