Unique investment ideas, tips, strategies and insights from our team of editors: Brian Hicks (author of the bestselling book, Profit from the Peak), Christian DeHaemer, Ian Cooper, and Nick Hodge.
- Description: Newsletter author. Trading frequency: Weekly
- Interests: Bonds, Dividend stock ideas & income, ETFs, Mutual funds, Options, Stocks - long, Stocks - short
Wealth Daily The greatest investment advice I ever received didn't come from Warren Buffett, Peter Lynch, or my grandfather. It came from a car salesman I never knew or met. And I'll bet you never heard of him either. He lives in California and his name is Carlos Gray. Carlos grew up as the son of a migrant worker from ...More
Mexico and a WWII veteran from Rockford, Tennessee. He never went to college, but that didn't stop him from becoming the richest person in his family. To date, Carlos' net worth is in excess of $9 million. He didn't become wealthy by trading stocks or flipping real estate. He did it in a most unique way. He did it by selling cars. His road to success started in 1979, when he took a sales job with an Oldsmobile dealership. Carlos' father - Ben -- was an Oldsmobile man and owned nothing but them. Carlos practically grew up in those cars. So selling Oldsmobiles came easy to him. Within 3 months, he was emptying the dealership by the lot of the popular and powerful, Oldsmobile Cutlass. At his peak, he was selling over 30 Cutlass's per month. However, by April of the following year, Carlos was done selling Oldsmobiles. Instead, he discovered Chevrolet's 48-mpg Chevette. And while his colleagues laughed at him, Carlos was sure he knew what was headed down the pike. Because Carlos knew that with gas prices skyrocketing, that people would soon be lining up around the corner for this incredibly efficient car. He was right, of course, and it paid off in spades. The Chevette became the best selling car in America for the next two years... and Carlos became the top selling salesmen in the entire state. That's when Carlos realized he found the secret to success: Always work for a dealership that sells the next hot car. In fact, throughout his entire carreer, he never committed himself to one dealership, make or model of any car. That was his strategy. He didn't care about company or brand loyalty. And he sure didn't care if he sold American or Japanese or German automobiles. He worked in over 20 different dealerships during his career... and sold thousands of cars. I learned about Carlos right when I was starting out in the investment business with a large financial publisher in 1994. Now I must confess that when I began my career in 1994, what I knew about the stock market wouldn't fill a shot glass. But I wanted to learn everything about investing. It would take a full 2 years before I felt confident enough to buy a stock. During those 2 years I read everything I could get my hands on regarding investments, stocks, and the economy - Beating the Street by Peter Lynch...Security Analysis by Graham and Dodd... and Extraordinary Popular Delusions and the Madness of Crowds by Charles MacKay. I didn't know it at the time, but I had given myself the equivalent of a Master's degree in the Study of the Stock Market. The rest, as they say, is history--since I've been riding these trend ever since. In fact, I believe that investors who recognize that bull markets rotate among asset classes can quickly buy into those sectors at cheap levels. And that's why I struck out on my own in 2003 and started Wealth Daily the following year. I wanted to create an investment service that looked at everything as a possible investment. You see, we view sectors and markets much like Carlos Gray viewed cars. One year Honda (technology) is hot... the next year it might be Toyota (energy), the following year it's SUVs and so on. That's why sometimes we're contrarians, like we were in 2004 and 2005 when we loaded up on technology stocks. Along the way, we'll invest in value stocks, growth stocks, microcaps, small caps or big caps--depending on the trend. Meanwhile, the big investment trends we see continuing and emerging over the course of the next several years are energy, technology, water, infrastructure build-out, commodities, and globalization. But this might change... and new trends might emerge. If they do, we'll jump on it and make money. Period. So I invite you to join us in this money-making journey by joining Wealth Daily. It's a one-stop-shop for making money in the stock market. And believe me, if there is one thing we love it is making money for our readers. Sincerely, Brian Hicks President, Wealth Daily
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