The one big down side of Twitter is that it gives nitwits or twits a chance to exercise their very small intellectual muscle, which is generally made up of an oversupply of bile and pseudo-intelligence.
Provided I can look past any nastiness directed at me, it’s not all bad because I’m getting feedback, which gives me insight into what many people (even the creepy, vindictive ‘up themselves’ types) don’t understand about making money.
So after some twit tweeted something about me getting the Trump election wrong and presuming I got Brexit wrong — he actually tweeted an assumption on what I said on the subject!
Nasty though it is, it does show me what too many people think of ‘experts’, which is a term I never call myself, though others in positions of power in the media, politics and industry etc. have tagged me with.
And all this makes it compulsory that I declare: “I’m not your expert! I’m an educator wanting to build your wealth.”
Tony Robbins was recently part of a documentary made by Netflix called “I’m not your guru” even though for hundreds of thousands, possibly millions, he is. The doco looks at his six day program that helps people turn around their lives. He makes people be honest about themselves and what holds them back - in love, business success and life success.
One message you take away is that the real guru is inside all of us, but somehow we have to have the guts to bring it out. It hides inside us and as the old, perceptive saying goes: “What we want is just outside our comfort zone.”
My aim is to do similar things when I try to educate readers, listeners, viewers and my financial planning customers. I believe if you can give honest education about important things like building wealth, then those receiving it are ready to make some changes (and get outside their comfort zone) and some great money windfalls can happen. Most of them will be gradual, as time is the friend of an investor, provided he/she invests wisely and based on a good, reliable strategy.
To my critic, whose Twitter profile shows himself to be pretty impressed with himself, I’d like to address his key criticism, so he knows where I’m coming from when I tweet.
You see, I’m already regarded as an expert, but I never tip political outcomes because I don’t have that expertise. A guy I was listening to (because he’s an expert on good and bad companies) confidently proclaimed: “Hillary will win!”
For the record, I wanted Hillary to win because the market showed it did too. Hoping the market will be positive to Trump was punting and I don’t do that with my (or other people’s) money.
That said, I provided numerous cases to my regular readers of why Trump could win. I talked about Professor Alan Lichtman’s system, the 87% correct strike rate of the S&P 500 guide and even feng shui legend Master Feng, who tipped DT two months before the poll!
Apart from Trump’s pretty ordinary human being track record, I did hail him as one of the greatest brand-builders of all-time. In fact, on the Monday before the poll, Michael Knox, the chief economist of Morgans, showed how Trump’s economic policies would produce more US growth than Hillary’s.
That surprise made me more comfortable about the possibility of a Trump win, but I was still worried about a bad market reaction, which could hurt confidence, derail the US economic recovery, prevent the December interest rate rise in the US and sustain the kind of uncertainty that has dogged us since the GFC.
The market instantly hated the election result, with the futures down 800 points. Then Trump put together a good victory speech and the market started to re-rate Donald. And we were off to the races.
I’m not a poll expert, so I made no tips, but I didn’t work out what the market would do because that was a really hard one. However let me say, day to day, market guessing is really hard and I don’t do that sort of thing because I’m not into punting on stocks. I invest in them.
I don’t treat stocks like going to the races though many people do. Cabbies ask me for tips and I tell them to read this column here on Switzer Daily, watch my show on Sky or listen to my radio program on 2UE!
My expertise is to show people to build their wealth slowly. That’s why I like 20 stocks in my SMSF portfolio. I buy great companies when the market beats them up because I learnt from Warren Buffett to be greedy when others are fearful and vice versa.
When BHP-Billiton dropped down to around $14, I kept asking the question of my stocks experts if it was buy time. Only a couple said yes. I waited to see the trend turn, as I learnt that from a market trend expert some years ago. At around $15, I bought back in and while I’m glad it’s now $25.91, I really hoped it would be at this level in two or three years’ time. The quickness of the return is a bonus and makes me look like a genius, but it was good luck.
However, my process was proved. Buy quality companies and wait for the turnaround. Of course, I throw in other filters to make sure that the once great company is still great. And remember, I have 20 companies to spread around the risk.
I have similar reliable processes and education guidelines when I’m invited to talk to small businesses based on the history of great business builders. And now I’m adding the Trump story to that presentation.
I believe if someone really wants to build wealth or a great business or be a ‘stand out from the crowd’ personal brand as an employee or business owner, they need to really want it. Then they have to believe it can happen. And most importantly, they have to take action on that belief. And if actions are linked to a tried and tested education program, then there’s a really good chance of at least good, but possibly great, success.
I want to be known as someone who helps others be at least good but maybe great at wealth-building, business-building and even-life building. As a role model for your employees or your family, you can get the best results imaginable. And there’s also the best result of all — happiness.
Yeah, I know this is becoming a little too soft and cuddly, so let me finish with one of my favourite quotes from a high achiever, Muhammad Ali, who told us: “It’s the repetition of affirmations that leads to belief. And once that belief becomes a deep conviction, things begin to happen.”
I want you to become “the greatest” at what you want. And I’d love to help my nasty tweeter to be so successful that he wouldn’t get off hurling insults at people on twitter, unnecessarily!
If you liked this article you'll love the Switzer Report, our newsletter and website for trustees of self-managed super funds. Click here for a FREE trial and to hear more of Peter’s expert commentary and advice.