***Step 1*** Money Grows on the Tree of 'Zero Debt'.
The legendary Professor Smarba and I had dinner last Friday evening. Oh, by the way, Dr. Smarba is a Professor Emeritus of Finance. It was at the casually elegant Palm Court in the Plaza Hotel in midtown New York. You know, that upmarket establishment that used to be owned by Donald Trump.
The Professor had a copy of his new book 'The Profit-Taker Equalizer for the Underdog' tucked under his arm.
Lo and behold, who should arrive, hungrier than a bear, but the Professor's Wall Street broker of twenty-five years. His name is Earl Johnson. The evening proved to be an enlightening financial feast. Here's the account of that night.
Earl, the broker, initiated the conversation. He complimented Professor Smarba by recounting the fact that the Professor is his firm's largest personal account.
Earl was curious as to how Professor Smarba rose from bankruptcy to great affluence. He also had reports that he built his portfolio solely on the basis of the Profit-Taker Strategy invented in the mid-seventies. All well and good. But, the point being, Earl stated unequivocally that Professor Smarba's 'Underdog' book was a 'financial flash of genius'.
Earl, our Wall Street broker, added a dash of humor. He stated that he routinely heard one-liners such as: 'A stockbroker is one who invests your money until your broker...' Or, 'If you want to make a killing on Wall Street, shoot your broker.' So, therefore, it's very fulfilling to hear such a success story as Professor Smarba, particularly when it takes place in his own firm.
"I'm living proof", said Professor Smarba, "that you can free yourself from your debtor's mental prison. I've experienced both sides of this issue personally. The truth is, I know the experience of having $450,000 in credit card debt and a two and a one-half million dollar mortgage. I also know what's it like to be 'zero debt'.
I don't have to tell you which feels better.
Three cheers, Mr. Stockbroker, for your interest in the story of my ongoing investment strategy. The key here, in this instance, is timing! That is, there is a 'time' to be 'zero debt'."
Professor explained how he began to use credit cards to pay for business expenses, living expenses and I don't know what else. Remember, every other year or so, I refinanced my house, paid off the credit cards, and in effect, set in motion the process again. However, now I have a ballooning mortgage, credit card debt, no equity, and no alternatives in sight. I had exhausted my stopgaps. Mr. Sandman wasn't bringing the dreams he wanted.
Earl wasn't expecting the bombshell that was to come.
"What should I do? If only, at that time, I had a copy of my fully written 'Underdog' book in my hands. As interest rates increased, mortgage balances suddenly were higher than the value of the house! I was working from a position of weakness. Always the optimist, I believed I could invest my way out of this battlefield."
After Richard Nixon's resignation in early August of 1974, the Dow began another shocking fall which slaughtered me. He said it seemed like he was the last of the Bull Market players. Over the next two months the Dow was like the Titanic, losing four of sixteen watertight compartments (27%). Panic articles appeared in Forbes such as "Dow below 400?". The title of the Newsweek article, "Is there no bottom?" summed it all up. Personally and professionally, it was his coup de gras.
"Was bankruptcy my key to deliverance? It was. Not only did it promise immediate relief - but a fresh start. Sweet, sweet bankruptcy! It delivered. Now I was in a position of 'zero debt'. It was a position of strength. It provided the platform from which to catapult myself to a large fortune."
So if you want to build true wealth... The first step is get into a position of 'zero debt'".
***Step 2*** Live Modestly Like a Billionaire NOT Like a Lottery Winner
The benign, authoritative voice of wisdom continued as we ate. It was age-old advice that always needs to be repeated. This was Professor Emeritus speaking, of course.
"If you don't cultivate the discipline and experience necessary to produce wealth, you can never have it in your lifetime. To achieve sudden money without learning the principles of the 'Underdog' book presented here, you'll certainly won't amass it."
As I put knife and fork to my New York prime cut, medium rare...the voice becomes more meaningful. I bent my ear closer.
I listened seriously and closely. I, and the Wall Street broker in this impromptu dinner party, were told some clear thoughts by our Professor Emeritus.
"Achieve sudden money is one thing..." We listened as 'Smarb' gave us the straight dope. "...But without learning the financial principles to keep it, build on it, amass it, is a foolish man's dream. My 'Underdog' book is the proven answer. I have found that its techniques of no-risk, profit guarantee investing is the only wise choice.
Evidence shows if one doesn't cultivate the discipline and experience to produce wealth on one's own, it will be the fruitless search of a lifetime."
Contemporary 'sudden wealth' events might include a retirement benefits package, insurance settlement, divorce settlement, company stock options, inheritance or winning the lottery. But, such windfalls don't last forever.
Before we could catch a breath, the old man of finance pointedly related his experiences. The solution? Create a budget. Just consider winners of lotteries. For many lottery winners, the reality is more like a horror story.
Willie Hurt of Lansing, Michigan, won $3.1 million in 1989. Two years later he was destitute as well as charged with murder. His attorney says he depleted his winnings on a divorce and a penchant for cocaine.
William "Bud" Post won $16.2 million in the Pennsylvania lottery in 1988.
At the end of the day he declared bankruptcy. Now he lives on his Social Security and food stamps.
Janite Lee from Missouri won $18 million in 1993. She big-heartedly contributed her money to a variety of causes including politics, education, and the community. Published reports state that eight years after winning, Lee was broke. She only had $700 left in two bank accounts with no ready cash.
Evelyn Adams wowed New Jersey when she won the lottery not just once, but twice,(in 1985 and1986), collecting $5.4 million. "Winning the lottery isn't always what it's cracked up to be, "she repeats. Today she subsists in a trailer. All the money went AWOL."
"The solution? Create a budget - and live it. Make certain it allows for enjoyable things, such as concerts and new fashions.
Once you have reached 'zero debt' and have learned to practice the rules of living moderately like these billionaires, then it's only a short distance to wealth with the application of the Profit-Taker principles."
So I asked, where do you learn these success pointers?
"Right here! Sometimes it takes only a precious few subtle shifts in your thought processes to create an enormous difference in your results.
We are aware that on the other end of the spectrum from the 'have-nots' are the 'haves'. Do the world's wealthiest people live in the lap of luxury? Dollars to doughnuts they don't. Some of the world's richest people live modestly - maybe not doughnuts - and frugally. Witness the following!"
Want a 'for example'?
Warren Buffet (78+) is the exemplar example. He amassed an astronomic fortune from investments managed through Berkshire Hathaway, the holding company, of which he is the largest shareholder and CEO. He was ranked by Forbes as the second richest person in the world as of September 2007, behind Bill Gates. Buffet is known for his unorthodox and Spartan style despite his king-size wealth.
Ikea founder Ingvar Kamprad (82+) assembled a $33 billion fortune selling moderately priced furniture to the masses. All the same the self-made Swedish entrepreneur drives a 15-year-old Volvo, flies economy, undertakes to avoid wearing suits often eats meals at popular priced restaurants. He encourages IKEA employees to write on both sides of a paper. He is also known to visit IKEA for a bargain-counter meal. He is also known to buy Christmas paper and presents in the post-Christmas sales."
This Palm Court atmosphere is excellent and relaxing, but the inexhaustible Professor Smarba was dogged in his desire to teach, and to alert the unwary.
"The element of surprise that catches people unprepared to deal with a windfall can be an overwhelming, often a losing experience."
It is better to gain the skills and wisdom necessary to achieve gold and silver, than the physical wealth itself. Like a magnet, treasures are attracted to those who live unadorned and free of indebtedness. This is the difference between those who are worse off than before and those who build from a position of strength.
So if you want to build true wealth-
the second step is to...
Learn the proper skills for achieving wealth. In concert with this live modestly. Enjoy your 'zero debt' status.
***Step 3*** 'Anyone Can Make a Billion'
Expansive rhetoric, I thought. Possibly so. But as the dinner conversation wound down to the dessert, "Smarb' fine-tuned and summarized. This wise, old financial wizard spoke in low, deliberate, mellow tones as befitting a voice of fifty years experience in the money markets of the world.
I silently and carefully listened. This fireside chat was only interrupted when the dessert tray arrived. Oh, by the way, I chose the mousse. Exquisite. The Professor's eyes convinced us as much as his words.
"This Profit-Taker Equalizer for the Underdog book will guide you to your financial target. Follow its aims.
The philosophy of The Profit-Taker Equalizer is to achieve lasting and more fulfilling goals for the middle-class poor. The application of the mechanics of the Strategy is to create monetary equality between the middle-class poor and the rich.
After my bankruptcy, I had the leisure and money to read popular books on moneymaking, as well as financial textbooks. As a Professor of Finance, publishers besieged me with texts, hoping I'd adopt one or two for my upcoming courses.
During this data-gathering process, I discovered 'The Profit-Taker: the Proven Rapid Money-Maker in Good and Bad Markets' by Prof. Don Abrams. It was published by John Wiley & Sons, New York. The strategy - invented by Prof. Abrams in the mid seventies - is a stroke of genius. It appeared to meet my four point criteria. That is, one - it has a proven record of success; two - it capitalizes on the fluctuations of the stock; three - it's a moneymaker; and four - it produces profits in good and bad markets.
Professor Abrams informed me about his friend - perhaps more of a 'hero' - Dr. Morton Shulman. He has since passed away. Let me precise Smarba's words.
Dr. Shulman was a great influence on the early development of the Profit-Taker Strategy and is the author of the international bestseller, 'Anyone Can Make a Million'. In the eyes of Prof. Abrams, Dr. Shulman was a modern day Renaissance Man. Morton Shulman of Toronto was a financial author, Member of Parliament, broadcaster, chief coroner, businessman, columnist, physician. He was also the inspiration for the TV series "Wojeck" and "Quincy M.E." - and a fearless champion of the underdog.
It was Dr. Shulman's passion for the convertible bond, calling it 'the ideal investment,' that immersed Prof. Abrams in his undaunted quest to invent The Profit-Taker Strategy.
Professor Abrams perceived that this could be the beginning of "a truly unique and lovable strategy." He submitted, at that time, an unpublished manuscript of his
'The Profit-Taker' for review to Dr. Shulman. After a casual scan, 'Morty' responded negatively. It was too good to be true. Some years later, after the results of
'The Profit-Taker' were in, Dr. Shulman in a formal, handwritten note to Prof. Abrams said, 'Forgive me!' "
Smarba said that Dr. Shulman taught us an invaluable lesson here:
"Be skeptical! But don't let your best financial opportunity slip through your fingers because the eye-opening reaction is 'It looks too good to be true.' But to the investigative eye the reaction may well be 'Hey! It is true!'
No one knows your financial goals better than you, yourself.
Nevertheless, my 'Underdog' book opens doors to your creativity. Set up your own comfortable investment strategy. Remember: Making money is never boring.
In conclusion, the question you must ask yourself is:
'Do I understand the Profit-Taker Strategy?' Well, when you can confidently say 'yes', then consider yourself an 'unrealized' rich person! Walking around as if you have the Hope Diamond in your pocket. So, you, Mr. Wall Street Broker, and your clients are then fortunate indeed.
So if you want to build true wealth -
The third step is... read my new, free 'Underdog' book. It will excite, intrique, entertain, and enlighten. Grasp the power of the Profit-Taker in good and bad markets."
The legendary Professor Smarba and I had dinner last Friday evening. Oh, by the way, Dr. Smarba is a Professor Emeritus of Finance. It was at the casually elegant Palm Court in the Plaza Hotel in midtown New York. You know, that upmarket establishment that used to be owned by Donald Trump.
The Professor had a copy of his new book 'The Profit-Taker Equalizer for the Underdog' tucked under his arm.
Lo and behold, who should arrive, hungrier than a bear, but the Professor's Wall Street broker of twenty-five years. His name is Earl Johnson. The evening proved to be an enlightening financial feast. Here's the account of that night.
Earl, the broker, initiated the conversation. He complimented Professor Smarba by recounting the fact that the Professor is his firm's largest personal account.
Earl was curious as to how Professor Smarba rose from bankruptcy to great affluence. He also had reports that he built his portfolio solely on the basis of the Profit-Taker Strategy invented in the mid-seventies. All well and good. But, the point being, Earl stated unequivocally that Professor Smarba's 'Underdog' book was a 'financial flash of genius'.
Earl, our Wall Street broker, added a dash of humor. He stated that he routinely heard one-liners such as: 'A stockbroker is one who invests your money until your broker...' Or, 'If you want to make a killing on Wall Street, shoot your broker.' So, therefore, it's very fulfilling to hear such a success story as Professor Smarba, particularly when it takes place in his own firm.
"I'm living proof", said Professor Smarba, "that you can free yourself from your debtor's mental prison. I've experienced both sides of this issue personally. The truth is, I know the experience of having $450,000 in credit card debt and a two and a one-half million dollar mortgage. I also know what's it like to be 'zero debt'.
I don't have to tell you which feels better.
Three cheers, Mr. Stockbroker, for your interest in the story of my ongoing investment strategy. The key here, in this instance, is timing! That is, there is a 'time' to be 'zero debt'."
Professor explained how he began to use credit cards to pay for business expenses, living expenses and I don't know what else. Remember, every other year or so, I refinanced my house, paid off the credit cards, and in effect, set in motion the process again. However, now I have a ballooning mortgage, credit card debt, no equity, and no alternatives in sight. I had exhausted my stopgaps. Mr. Sandman wasn't bringing the dreams he wanted.
Earl wasn't expecting the bombshell that was to come.
"What should I do? If only, at that time, I had a copy of my fully written 'Underdog' book in my hands. As interest rates increased, mortgage balances suddenly were higher than the value of the house! I was working from a position of weakness. Always the optimist, I believed I could invest my way out of this battlefield."
After Richard Nixon's resignation in early August of 1974, the Dow began another shocking fall which slaughtered me. He said it seemed like he was the last of the Bull Market players. Over the next two months the Dow was like the Titanic, losing four of sixteen watertight compartments (27%). Panic articles appeared in Forbes such as "Dow below 400?". The title of the Newsweek article, "Is there no bottom?" summed it all up. Personally and professionally, it was his coup de gras.
"Was bankruptcy my key to deliverance? It was. Not only did it promise immediate relief - but a fresh start. Sweet, sweet bankruptcy! It delivered. Now I was in a position of 'zero debt'. It was a position of strength. It provided the platform from which to catapult myself to a large fortune."
So if you want to build true wealth... The first step is get into a position of 'zero debt'".
***Step 2*** Live Modestly Like a Billionaire NOT Like a Lottery Winner
The benign, authoritative voice of wisdom continued as we ate. It was age-old advice that always needs to be repeated. This was Professor Emeritus speaking, of course.
"If you don't cultivate the discipline and experience necessary to produce wealth, you can never have it in your lifetime. To achieve sudden money without learning the principles of the 'Underdog' book presented here, you'll certainly won't amass it."
As I put knife and fork to my New York prime cut, medium rare...the voice becomes more meaningful. I bent my ear closer.
I listened seriously and closely. I, and the Wall Street broker in this impromptu dinner party, were told some clear thoughts by our Professor Emeritus.
"Achieve sudden money is one thing..." We listened as 'Smarb' gave us the straight dope. "...But without learning the financial principles to keep it, build on it, amass it, is a foolish man's dream. My 'Underdog' book is the proven answer. I have found that its techniques of no-risk, profit guarantee investing is the only wise choice.
Evidence shows if one doesn't cultivate the discipline and experience to produce wealth on one's own, it will be the fruitless search of a lifetime."
Contemporary 'sudden wealth' events might include a retirement benefits package, insurance settlement, divorce settlement, company stock options, inheritance or winning the lottery. But, such windfalls don't last forever.
Before we could catch a breath, the old man of finance pointedly related his experiences. The solution? Create a budget. Just consider winners of lotteries. For many lottery winners, the reality is more like a horror story.
Willie Hurt of Lansing, Michigan, won $3.1 million in 1989. Two years later he was destitute as well as charged with murder. His attorney says he depleted his winnings on a divorce and a penchant for cocaine.
William "Bud" Post won $16.2 million in the Pennsylvania lottery in 1988.
At the end of the day he declared bankruptcy. Now he lives on his Social Security and food stamps.
Janite Lee from Missouri won $18 million in 1993. She big-heartedly contributed her money to a variety of causes including politics, education, and the community. Published reports state that eight years after winning, Lee was broke. She only had $700 left in two bank accounts with no ready cash.
Evelyn Adams wowed New Jersey when she won the lottery not just once, but twice,(in 1985 and1986), collecting $5.4 million. "Winning the lottery isn't always what it's cracked up to be, "she repeats. Today she subsists in a trailer. All the money went AWOL."
"The solution? Create a budget - and live it. Make certain it allows for enjoyable things, such as concerts and new fashions.
Once you have reached 'zero debt' and have learned to practice the rules of living moderately like these billionaires, then it's only a short distance to wealth with the application of the Profit-Taker principles."
So I asked, where do you learn these success pointers?
"Right here! Sometimes it takes only a precious few subtle shifts in your thought processes to create an enormous difference in your results.
We are aware that on the other end of the spectrum from the 'have-nots' are the 'haves'. Do the world's wealthiest people live in the lap of luxury? Dollars to doughnuts they don't. Some of the world's richest people live modestly - maybe not doughnuts - and frugally. Witness the following!"
Want a 'for example'?
Warren Buffet (78+) is the exemplar example. He amassed an astronomic fortune from investments managed through Berkshire Hathaway, the holding company, of which he is the largest shareholder and CEO. He was ranked by Forbes as the second richest person in the world as of September 2007, behind Bill Gates. Buffet is known for his unorthodox and Spartan style despite his king-size wealth.
Ikea founder Ingvar Kamprad (82+) assembled a $33 billion fortune selling moderately priced furniture to the masses. All the same the self-made Swedish entrepreneur drives a 15-year-old Volvo, flies economy, undertakes to avoid wearing suits often eats meals at popular priced restaurants. He encourages IKEA employees to write on both sides of a paper. He is also known to visit IKEA for a bargain-counter meal. He is also known to buy Christmas paper and presents in the post-Christmas sales."
This Palm Court atmosphere is excellent and relaxing, but the inexhaustible Professor Smarba was dogged in his desire to teach, and to alert the unwary.
"The element of surprise that catches people unprepared to deal with a windfall can be an overwhelming, often a losing experience."
It is better to gain the skills and wisdom necessary to achieve gold and silver, than the physical wealth itself. Like a magnet, treasures are attracted to those who live unadorned and free of indebtedness. This is the difference between those who are worse off than before and those who build from a position of strength.
So if you want to build true wealth-
the second step is to...
Learn the proper skills for achieving wealth. In concert with this live modestly. Enjoy your 'zero debt' status.
***Step 3*** 'Anyone Can Make a Billion'
Expansive rhetoric, I thought. Possibly so. But as the dinner conversation wound down to the dessert, "Smarb' fine-tuned and summarized. This wise, old financial wizard spoke in low, deliberate, mellow tones as befitting a voice of fifty years experience in the money markets of the world.
I silently and carefully listened. This fireside chat was only interrupted when the dessert tray arrived. Oh, by the way, I chose the mousse. Exquisite. The Professor's eyes convinced us as much as his words.
"This Profit-Taker Equalizer for the Underdog book will guide you to your financial target. Follow its aims.
The philosophy of The Profit-Taker Equalizer is to achieve lasting and more fulfilling goals for the middle-class poor. The application of the mechanics of the Strategy is to create monetary equality between the middle-class poor and the rich.
After my bankruptcy, I had the leisure and money to read popular books on moneymaking, as well as financial textbooks. As a Professor of Finance, publishers besieged me with texts, hoping I'd adopt one or two for my upcoming courses.
During this data-gathering process, I discovered 'The Profit-Taker: the Proven Rapid Money-Maker in Good and Bad Markets' by Prof. Don Abrams. It was published by John Wiley & Sons, New York. The strategy - invented by Prof. Abrams in the mid seventies - is a stroke of genius. It appeared to meet my four point criteria. That is, one - it has a proven record of success; two - it capitalizes on the fluctuations of the stock; three - it's a moneymaker; and four - it produces profits in good and bad markets.
Professor Abrams informed me about his friend - perhaps more of a 'hero' - Dr. Morton Shulman. He has since passed away. Let me precise Smarba's words.
Dr. Shulman was a great influence on the early development of the Profit-Taker Strategy and is the author of the international bestseller, 'Anyone Can Make a Million'. In the eyes of Prof. Abrams, Dr. Shulman was a modern day Renaissance Man. Morton Shulman of Toronto was a financial author, Member of Parliament, broadcaster, chief coroner, businessman, columnist, physician. He was also the inspiration for the TV series "Wojeck" and "Quincy M.E." - and a fearless champion of the underdog.
It was Dr. Shulman's passion for the convertible bond, calling it 'the ideal investment,' that immersed Prof. Abrams in his undaunted quest to invent The Profit-Taker Strategy.
Professor Abrams perceived that this could be the beginning of "a truly unique and lovable strategy." He submitted, at that time, an unpublished manuscript of his
'The Profit-Taker' for review to Dr. Shulman. After a casual scan, 'Morty' responded negatively. It was too good to be true. Some years later, after the results of
'The Profit-Taker' were in, Dr. Shulman in a formal, handwritten note to Prof. Abrams said, 'Forgive me!' "
Smarba said that Dr. Shulman taught us an invaluable lesson here:
"Be skeptical! But don't let your best financial opportunity slip through your fingers because the eye-opening reaction is 'It looks too good to be true.' But to the investigative eye the reaction may well be 'Hey! It is true!'
No one knows your financial goals better than you, yourself.
Nevertheless, my 'Underdog' book opens doors to your creativity. Set up your own comfortable investment strategy. Remember: Making money is never boring.
In conclusion, the question you must ask yourself is:
'Do I understand the Profit-Taker Strategy?' Well, when you can confidently say 'yes', then consider yourself an 'unrealized' rich person! Walking around as if you have the Hope Diamond in your pocket. So, you, Mr. Wall Street Broker, and your clients are then fortunate indeed.
So if you want to build true wealth -
The third step is... read my new, free 'Underdog' book. It will excite, intrique, entertain, and enlighten. Grasp the power of the Profit-Taker in good and bad markets."