A Gift to My Children (4)

Dedicate yourself to what you feel passionate about

When you start something new, you simply connot hope for success by dedicating yourself to something that you don't even care for.  It's because you'll never feel any passion. 'As a student, I loved to learn about different countries.  When I was on Wall Street, I realized that some people would actually pay money for my knowledge that the price fo copper would rise due to the revolution in Chile.  Whether or not I was rewrded, I was passionate about studying history and events that were taking place over the world.  I knew I was better versed than others on the global situation and this knowledge helped me profit in my investment.

To live a worthwhile life, it is better to do what you want even if you don't get rewarded.  This is the key to becoming successful.

Attention to details differentiates success from failure

Paying attention to the finest of details makes the difference between success and failure. However trivial it may seem, you must be able to research and check each and every piece of information.  Don't leave any stone unturned.  The reason whyy most people don't succeed is because their research is faulty and limited to the confines of what is immediately available.  There is only one way to obtain more knowledge than others, and that is through meticulous researching.  It requires a lot of work and diligence, but this effort will surely give you an avantage over others.

I do not undermine or underestimate any of the steps I am required to take when I invest. If I were to invest in a business, I look through each and every financial statement including the detailed notes.  I will also find a way to verify 'financial statements or future projections that are announced by the top executives.  And I will not invest unless I can positively say that I am more knowledgeable about the particular firm than 98% of Wall Street analysts.  Without this extra effort and work, there simply can be no success.

(to be continued...)