Learn From Warren Buffett and Joseph Kennedy Exactly How to Double Your Income

The Story of Joseph Kennedy

Joseph Kennedy was a stock market investor in the late 1920’s.  One day, in the Summer of 1929, he overheard an elevator boy boasting about how much money he had made in the stock market.  Joseph Kennedy reasoned that if totally-uneducated low-income employees have now been attracted to the stock market, then the prices must be at their all-time highest.  So, he raced to the floor of the stock exchange and famously yelled: SELL!  For months, his friends laughed at him as prices kept rising and rising and rising.  Then, one day, October 29, 1929, the market crashed.  Joseph Kennedy and his family were safe.  They had no money whatsoever in the market.

Joseph Kennedy waited.  Prices fell.  He waited.  Prices fell.  Then, one day, in 1932, a full three years later, he bought a chain of department stores at 5¢ on the dollar.  He bought the real estate, the buildings, the inventory, the goodwill – everything at a 95% discount.  He then parlayed that brilliant purchase into a fortune that spawned a political dynasty of famous and politically successful Kennedy’s, including one President John Kennedy.  His wealth and his influence will last for centuries – because he had the courage to go against the conventional wisdom.  He played the INNER game instead of just reading the newspaper headlines.

Joseph Kennedy SOLD when everyone was buying.  Then, he BOUGHT when the Depression was at its very worst.  He made a gigantic fortune BECAUSE of The Great Depression.  We are not in a Depression now, but we are in a serious Recession.  And, you can make your fortune right now – BECAUSE of the Recession.

The story of Warren Buffett

For years, Mr. Buffett was the greatest stock market investor of all time.  Indeed for almost four decades.  However, in September of 2008, something amazing happened.  A sudden shock to the financial markets occurred in which several banks failed, banks which had been around for over a 100 years.  Banks which had survived a decade of The Great Depression.  They failed.  Huge financial organizations failed.  The Big Three Auto Manufacturers are on the verge of failing.  And, the headlines screamed all this bad news.  In the midst of this whirlwind of disaster, Warren Buffett was quoted in gleefully exclaiming: “I’ve been waiting for this day for ten years!”  Warren Buffet knew the secret – that the flip side of financial disaster is gigantic opportunity.

What both Mr. Kennedy and Mr. Buffett have taught us with their actions is that it is NOW the time to seize opportunities.  Right now.  What others call a “lousy” economy, the wisest businessmen know is the greatest opportunity.  Seize it!!

Raymond Aaron,New York Times Top Ten Bestselling Author, “Double Your Income Doing What You Love” published by John Wiley and Sons, New York City.

Claim your Gifts From Raymond“to double your income”. It’s free.

Join Raymond Aaron on Twitter @RaymondAaron.

Join “Raymond Aaron Double Your Income” Facebook Fan Page at http://www.FacebookRaymond.com .

Leave a Reply

Your email address will not be published. Required fields are marked *