Here's something fun. About a week ago I received the following email from a student doing a school project:
For school I need to interview a stockbroker/investment person... I admire you so much and I was hoping you would answer these questions. Here are the questions if you could answer them that would be awesome:
- education needed?
- salary?
- hours?
- outlook on the job?
- how can you get better in the career?
- tips for someone my age on getting started on becoming a stockbroker/investment? (age 17)?????
Below are my responses:
education needed?
No formal education is necessary, but understanding the businesses you are buying is critical. You'll have to learn the language of business -- numbers -- which is a pain but necessary.
salary?
I make money when my businesses cash flow or when they go up in value. On the side I make money occasionally as a speaker and a writer.
hours?I used to work a lot. Now I spend about 15 minutes a week on investing and get as much done as I did in several days just 8 years ago. The internet has changed everything.
outlook on the job?If you are a good investor, you can't be fired, you'll always have investments to look at and it's the best job in the world because you can work when you want to while other people are killing themselves in part to make you money.
how can you get better in the career?
Follow the 4Ms. Buy what means something to you, something that syncs with your own values. Buy a huge moat. Buy a honest and owner-oriented CEO. And get a huge margin of safety. You do that and you will be rich.
tips for someone my age on getting started on becoming a stockbroker/investment ? (age 17)?????
Learn Rule #1. Use the 4Ms. Find a few great businesses. Become a stockbroker once you become a great investor, not the other way around.
