I do not believe in the power of brand names or in emulating
any of the brand name investors out there. It is a fact that all — if
not at least most — of the biggest names in American finance and
industry out there today have proven after the 2008 crisis to be some
of the most incompetent people there are. Starting with the untouchable
Goldman Sachs, who was bailed out by over $5 billion from
Warren Buffett, to AIG and Citibank, who were bailed out by the
hundreds of billions of dollars from the Troubled Asset Relief Program
(TARP), having a name and a history does not make you the brightest
and the best. All it takes is one nincompoop with a huge ego or a
board of directors who think they are smarter than everyone else to
destroy what has taken generations to build.

Always remember: Business is War.
At the end of the day, the one with access to the best intel wins. This
applies as much to business and politics as it does to the military. Ask
every single billionaire and military or political strategist out there.
They will all confirm that as fact.

When people tell you that this
venerable firm or private investor invested X millions of dollars in
that entity and that it is a good investment, be skeptical and stay open
to the option of running as far as you can in the opposite direction.
We have all seen the biggest names on Wall Street along with the
largest sovereign wealth funds on the planet make the dumbest investments
ever made. Do your due diligence; ask the right questions, and
most important, check out the character of the people involved unless
you want to end up being prey to another master of the universe à
la Bernie Madoff.

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Wealth creation is not a mathematical formula, as the truthseeking
quant geeks still want everyone to believe. In the end, their
lack of real-world experience and pride corrupted their mathematical
genius and destroyed them. You may be able to digitize a daVinci,
but that does not make it daVinci. Creating wealth is personal. It is
creating assets, creating value, or whatever act of self-perpetuation that
drives us to create a legacy.

There is a major difference between theoretical knowledge and
experiential knowledge. Academics think they know how the economy
should work; successful business owners know how the economy does
work. They have been there and done it. Our government should be
turning to those who have experiential knowledge when it comes to
solving our fiscal problems. They would realize that many of their
current policies may sound good but don’t work in the real world
and must be abandoned. They would spend less and live within their
means. They would be promoting the creation of more entrepreneurs
and business owners, instead of hiring more bureaucrats, consulting
more academics, and enlisting more lawyers to harass and prosecute
the true wealth creators of this nation.