PowerWealth.com

How to Get Ahead In America (3rd of a 12-Part Series)

By Logan Flatt, CFA

NOTE: This article is Part 3 of a 12-part series detailing the “12 Refusals That Helped Me Pull Ahead in America.” To start at the beginning of the series, click here.

3. Refuse to be a victim.

    Throughout history, many of us have been adversely affected when somebody or something oppressed, injured, tricked, mistreated, or otherwise afflicted us with emotional hurt, physical pain, or psychological damage. Due to no fault of our own – whether by cruel fate, happenstance, or divine intervention – we involuntarily suffered something unexpected and unfavorable that, by definition, reclassified our human condition to that of “victim”.

How to Get Ahead In America (2nd of a 12-Part Series)

By Logan Flatt, CFA

NOTE: This article is Part 2 of a 12-part series detailing the “12 Refusals That Helped Me Pull Ahead in America.” To start at the beginning of the series, click here.

2. Refuse to allow anyone else to take responsibility for creating your life.

    If there is one refusal that has been central to my financial success in America, I would say this is it. Simply put, I believe that I control my own destiny. Therefore, my life is my own creation. I’ve found that most people are ready to take credit for the good things in their lives, but are quick to blame others for the bad things. Not me. I take credit for both the good and the bad in my life.

How to Get Ahead In America (1st of a 12-Part Series)

By Logan Flatt, CFA

    The United States of America is a country where an individual wanting to improve his social or economic status, or simply get ahead one way or another, can make the choice to do so and then, through personal conviction and effort, create a new and better life around that choice. For centuries, poor, hungry, and courageous immigrants from around the world have come to America intent on transforming themselves into living, breathing examples of this fact. And they continue to come: in 2006 alone, the United States of America accepted 1,266,264 legal immigrants as permanent residents – more than the rest of the world combined.

Classic Analysis Always Wears Well

From The Financial Times newspaper:

Link to original Letter at FT.com

Classic analysis always wears well

Published: September 7 2007 03:00 | Last updated: September 7 2007 03:00

From Mr Logan Flatt.

Sir, Luke Johnson pines for high-quality stock research focused on the intrinsic worth of a company:

". . . classic analysis of shares will come back into fashion one of these days. I look forward to its renaissance." ("Bring on the rebirth of classic analysts", Ft.com September 4.)

Mr Johnson should note that classic, fundamental analysis never goes out of fashion. It is timeless in its design and wears extremely well. Also, I am happy to inform him that the renaissance festival is alive and well in downtown Chicago at the offices of Morningstar, Inc.

The company's five-star rating system is based on the "margin of safety" between market price and intrinsic worth, just as the dynamic duo of Warren Buffett and Charlie Munger advocate.

Furthermore, Morningstar's classically trained analysts can be an investor's source of calm amid the storm - they often remind their readers to remain focused on intrinsic worth when market prices get choppy and speculators get sloppy. Why wait for fashions to change when one can be wiser and richer today?

Logan Flatt,
PowerWealth.com,
Dallas, TX 75230, US

Copyright The Financial Times Limited 2007

Copyright 2007 PowerWealth.com. All rights reserved.