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Musings on Naysayers! October 2, 2009

Posted by shaferfinancial in Finance.
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While on a Southwest flight this week I read a great article in their magazine “Spirit.”  It starts with a great line: “There are two kinds of people in this world entrepreneurs and naysayers.”  This simple declarative sentence sums up a very important concept in wealth building.  Naysayers rarely build wealth.  And as this article goes on to say, “entrepreneurs never follow the advice of naysayers.”

Over the couple of years I have written this blog, I get lots of naysayers commenting.  Most, unfortunately, are not fit for popular consumption being generally obscene or taking personal shots at me.  I say unfortunately because it is useful when naysayers tell us why they don’t agree with items I have written.  This pushes the differences in thinking into stark black and white allowing for great comparisons.

The author of this article goes on to list three investments that were presented to him as opportunities that he passed on [Dell Computers, ___for Dummies books, and Ben and Jerry’s].  Had he chosen to invest in any one of those at the time these opportunities were presented he would be retired comfortably now instead of editing articles for airline magazines!  He found reasons why all of these businesses would fail which he felt were obvious flaws.

Folks, this blog is dedicated to the entrepreneurial spirit.  Everything I write from the investments I choose to the strategies I suggest is my attempt to encourage folks to become more of an entrepreneur and less of a naysayer.  This is a difficult choice in every environment but even more difficult in the current one.

Good luck to all of you.

Experts; What does it take to be called an expert? April 28, 2008

Posted by shaferfinancial in Uncategorized.
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Bad news travels fast.  Real Estate market is lost for a generation.  Stocks falling in the face of a recession (depression). Interest rates dropping on CD’s, annuities, savings, etc.  Yea, it is all out there now.  Every naysayer with a keyboard is opining about the “fall of the empire.”  Just a few years ago it was opposite.  All these keyboard experts were talking about “flipping houses,”  the stock market rebound, and “trust deeds.”

And then everybody, I mean everybody had a real estate license.  The other day my neighbor had a city exterminator over to catch a rodent.  He saw her for sale sign in the yard.  Suddenly, this guy, a self disclosed part-time real estate agent was rendering  advice.  “I predicted this bad real estate market,” he says.  “You should take your home off the market and sell in 2011.”  No comment on whether he sold houses to folks in the 2003-2005 period while he was predicting a market devaluation.

Truth be told, the majority of real estate agents ignored the truth of what they were doing.  They knew they were selling  homes, lots of them for over market values.  They knew how the appraisers were appraising homes over value.  They knew their clients couldn’t afford the homes, got questionable loans, etc.  Yet, they just smiled and sold homes.  I suppose you could argue that since so many of the agents were new or part-time they were incapable of seeing the truth.  Just like those internet keyboard experts, they were making judgements without knowledge or experience.

Folks, if you follow the herd, you will be hurt.  If you don’t figure out how to think independently, or at least hire folks who can think independently for you, you will be hurt. 

I talked to two folks over the weekend about the Shafer Wealth Academy(www.shaferwealthacademy.com).  It was interesting.  They started to tell me about the economy and what to invest in.  I asked them what their net worth was.  Neither of them had a positive net worth.  Think about  this, you call someone up who is offering to help you build your net worth, and start to tell them about good investments.  Yet, you are poor.  Oh, and by the way, they were both “former” real estate agents!  So far I have talked to several real estate agents, mortgage originators, mutual fund/insurance salesmen, a CPA, and a stock broker.  All were basically broke.  Think about that the next time you get advice from a so-called expert!