January 07, 2006
He agrees with me
The reality is that there is so much money chasing stocks today, fair value is only fair when you can find someone else who thinks its value should be a little bit fairer . Which is another way of saying that public companies are the meat of the bellcurve and private companies, particularly recent startups are the longtail and where the opportunity is.
Let me repeat myself one more time on another topic. The best investment you can always make is in yourself. If you want to secure your financial future, invest in your own knowledge. 29 dollars for a book is going to be a better investment than 29 dollars in commission to a brokerage 99 out of a 100 times. Being the best at something you love to do, is going to bring rewards, financial and otherwise that will far exceed what any stock or bond can offer you.
It took me 18 years of failure and success to go from being a little bit lucky (Someday I will write the blogpost about how people in the PC/Lan reseller industry used to give me a hard time about how I got lucky selling MicroSolutions at just the right time.:), to a little more lucky (trading technology stocks against the uninformed) , to a lot lucky (the broadcast.com IPO , then sale), then even luckier still (collaring my stock), to even luckier still again (not trying any of the “tax savings options all the brokerage firms were trying to sell me, that would now be costing me hundreds of millions of dollars in penalties), to more lucky, starting HDNet at the right time and partnering with amazing people.
But I digress. I hope to get lucky again. I think we are in the middle, not the beginning, the middle, of a very unique time period. One unlike anything we have seen since the early 1980s.