Good morning. This is Jason Hartman with the Speed of Money. The blinding pace of dramatic news stories continues in the financial industry. The boom, the bust, the government bailouts, the cycle rolls on and on. I want to thank those of you who went to my website, www.jasonhartman.com, and requested my free CD. You know from listening how hard I stress the importance of being a direct investor. In this era of almost daily trillion dollar news stories, it’s more important than ever to have direct control over your money and direct control over your investments. Be a direct investor.
I have something called the Ten Commandments of Successful Investing and No. 3 is thou shalt maintain control. Think about. When you do not control your investments, you put your financial future in the hands of somebody else, who has their own agenda and their own interest at heart. You leave yourself susceptible to three major problems when you relinquish control to somebody else.
No. 1, you might be investing with a crook. Certainly, the scandals on Wall Street are endless. There are certainly scandals in the real estate business and every other business as well. So don’t relinquish control and leave your investments in someone else’s hands for that reason.
No. 2 problem, you might be investing with someone who is just incompetent and they will lose your money through their sheer stupidity.
No. 3 problem, assume their honest, assume their competent. They take a huge management fee off the top for managing the investment. We’ve seen astronomical salaries of CEOs on Wall Street, where they’re paying themselves a fortune, while their company is going down the tubes. Be a direct investor. Protect yourself from this problem.
Investing in the stock market these days feels like a game of musical chairs. Last week, Lehman was left standing when the music ended. And Merrill Lynch sold and it’s one story after another. Are your stock investments next? This is Jason Hartman. Join me next week here on KABC 790 AM for the Speed of Money, and in the meantime, visit www.jasonhartman.com.
For even more in-depth information, tune in to Jason Hartman’s Creating Wealth podcast. Jason shares his unique investment strategy and shows you how to create and maintain wealth in these uncertain times. Head to www.jasonhartman.com and click on Podcasts. Or simply search for Jason Hartman at the iTunes Music Store. Subscribe today to the Creating Wealth podcast at www.jasonhartman.com.
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Duration: 3 minutes