The best businesses and the most successful people don’t just perform a task and make money. They solve a problem or facilitate an opportunity. Uber, Tesla, Apple, Netflix, and Microsoft approached their business with that mindset. They were designed to solve humanity’s most significant challenges and opportunities. However, even the smallest companies can develop solutions that people care about.
“competition is for losers”. I love that line….Happy companies are all different because each of them has discovered how to provide a product or service that is extremely valuable – yet so unique that they have no real competition.
Those that predicted that the failure of Silicon Valley Bank was just the beginning are turning out to be correct. The sharp rise in interest rates, plus a few regulatory gaps, coupled with the convenience of online banking have created a perfect storm for over-leveraged banks in 2023.
Recessions are tough on the economy. Investment activity slows, credit is less accessible, and well-paying jobs become scarcer. However, recessions also tend to be when savvy people become wealthier. Bottom line question: Who are the winners during a recession and why?
The Latino wealth gap in America is large. While Latinos have the highest workforce participation rate and are leading homeownership and new business formations, closing the wealth gap has been slow. According to the most recent Fed Survey of Consumer Finances, Latino families have one-fifth of the wealth as the typical Anglo-American family.
I write a lot about wealth. Over the years, I have acquired a deeper understanding of the topic and the implications it has not only for Latinos but for the country overall. I have come to believe that the ethnic wealth gap is the single biggest threat to American prosperity. I don’t think that is…
You know the story…Guy lives in a mansion with five luxury cars and a wife who looks like a swimsuit model. He posts videos on Insta where he talks about the lavish lifestyle he enjoys while driving in a car with the Ferrari logo strategically in focus. He speaks about the time when he lived…
I’ve been around real estate since I was in high school and my mother first worked at the Montebello MLS. Over the years, I have seen several cycles in this industry. I’ve seen my Realtor® friends go from living in mansions to sleeping in their cars and vice versa. Today, we are experiencing one of…
Jerry Ascencio and I hosted a webinar last week on stock-based investments. It was a well-attended session with great content. Our objective is not to sell people on the stock market, but to help close the knowledge gap about investing in general, and the stock market is an important part of that. Generating income is…
For years, I have campaigned against debt. I have always considered it the biggest enemy to wealth and I still do, but with a caveat. There is still no question that paying down credit card and unsecured debt is almost always the best use of extra cash, but with mortgage interest rates hovering around 3%,…