Bob O'Brien
Head Instructor
bobrien@mywealth.com
It’s always amazed me how many people, love to be in fantasy football and baseball leagues and then shy away from investing. The similarities are huge and the benefits of investing are far greater! I have found it quite funny when I hear people criticize the salaries of executives and yet have no problem with their favorite sports team paying top dollar to recruit the top players.
It really is the same thing, and nothing proves this more than Apple and Steve Jobs and the way the stock reacted to his taking a leave absence for health reasons. (I personally wish him a speedy recovery!) The stock plunged about 13%, (from when this was written) as Apple became Steve Jobs-less. Because Steve Jobs is that valuable to Apple and for weeks investors had worried about his health and how it will effect (AAPL) and the price of its stock. Apple computer products are the Mercedes Benz of their industry. (I-pod, I-Phone, Mac etc...), and Steve Jobs is the driving force behind this. This is no different, then A-Rod and Jeter being injured and how it affects the New York Yankees and their chances to win, or a starting quarterback not able to play due to an injury.
There are a lot of people that love sports and fail to see the sport in investing. The beauty is that you can learn to make money through legal channels and help companies get financing required in order sell products and services that people need in order to make their lives a little better.
Where do you start? Start with a blog of mine If You Were a Stock Would You Invest in Yourself! Then start by being a minor league player yourself and understanding what it takes to be an attractive stock, so you will be able to identify them. Transfer your passion for sports or any other passion, and apply it to your own finances, investing and markets. You will be surprised to find how quickly you can connect all the dots, and be on the path to financial security. You will learn to watch your downside, and achieve stable rates of returns.
I don’t think anyone would argue that spending more time on understanding investing and markets then tracking sports will have a greater benefit over the long run, and create financial security for you to boot! Tracking sports and other passions is great and fun, but it’s important that you track your own finances, business, markets, and making that fun too.
If you ever watch athletes they are constantly practicing and seeking more information. They also ask a lot of questions! In addition, they know who they are, and don’t try to force themselves to be something they are not. Derek Jeter does not try to hit homeruns, because he is not a home run hitter. So you don’t have to be a trader, if you are not comfortable yet, but having a good idea of the markets and what is going on is a must. In fact, I think watching markets allows you to tap into greater in depth analysis, and you will be able to brace yourself and prepare for the market trends that effect your life.
The beauty of it is that you can start your own Fantasy Portfolio with no risk. There are hundreds of web pages out there to do this and you can do things like the CNBC portfolio Challenge without risking any money. Make this your new passion, and get a little competitive about how well you look after your own money You will know when you are ready to start investing real money, and realize that even the greats never stop educating themselves. So check out our courses!
Sincerely,
Bob O’Brien
