What's the Best Investment Advice You Received?
March 28, 2013
by Frank Holmes
of U.S. Global Investors
Throughout my years in the financial industry, I’ve been fortunate to meet many wonderful people who helped shape my philosophies about life, business and investing. One such role model has been Seymour Schulich. While some may have never heard of the Canadian entrepreneur, those who meet him, don’t forget him and his straightforward approach to the resources industry. He’s one significant person who continues to be an inspiration to me.
Football Coach Vince Lombardi is another person who inspires me. In my essay printed in Liz Claman’s book, The Best Investment Advice I Ever Received, I share the evergreen importance of Lombardi’s famous line, “Practice does not make perfect. Only perfect practice makes perfect.”
All great money managers are intellectually competitive, similar to the way athletes are fiercely competitive. What they both have in common is that they never experience the perfect day when the conditions for winning are just right. Markets are seemingly random, so to be successful in investing, money managers need to be skilled in the art of “perfect practice.” That way, no matter what obstacle comes their way, the focus on the long-term goal of building wealth remains in play.
Liz Claman, currently an anchor with FOX Business Network, put together an extensive list of top moneymakers who offer their humble words of wisdom. I believe this book can inspire you to be a better investor.Check out the book with investment advice from Warren Buffett, Jim Cramer and Steve Forbes and more here.
What’s the best investment advice you’ve ever been given? Email U.S. Global email@example.com share your story.
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