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Friday, October 22, 2010
Thursday, October 21, 2010
how rich people think
How Rich People Think is a 205 page book by Steve Siebold that I enjoyed very much. The book basically puts forth 100 ideas on how rich people (the World Class) differ from the middle class in their way of thinking and actions. For example:
Middle Class waits for their ship to come in...World Class builds their own ship.
Each of these comparisons are then explained in a one to two page summary after the comparision, making up a chapter. The book is nothing if not motivating, inspiring, and forces one to begin to think outside of the box that many of us find ourselves in while enduring the rat race. The ideas are based on a quarter century of interviews with millionaires. If you feel that you are stuck in a rut, and are looking for some motivation whether you want to take your career in another direction, start a business, grow your business, or simply make a large investment this book might help you get into the proper mind set to do so. You only live once so don't settle; strive for your dreams!
Friday, October 1, 2010
sold two names to raise cash
To raise some cash for a business venture I sold my entire stakes in the following stocks this week.
Saputo (SAP) - The Canadian Food producer had run up so far from my adjusted cost base that it seemed like an obvious choice to take a nice profit. The stock is now trading at a P/E of over 18x, which strikes me as a little rich.
Scotts Miracle Gro (SMG) - This stock never really fit into my dividend growth model and the stock has run up very nicely in recent months. The stock likely has more room to run however it seemed like an ideal time to take a profit and exit the name for the time being.
Posting on the moneygardener should pick up over the next little while as I realize I have been nowhere to be found lately.
Saputo (SAP) - The Canadian Food producer had run up so far from my adjusted cost base that it seemed like an obvious choice to take a nice profit. The stock is now trading at a P/E of over 18x, which strikes me as a little rich.
Scotts Miracle Gro (SMG) - This stock never really fit into my dividend growth model and the stock has run up very nicely in recent months. The stock likely has more room to run however it seemed like an ideal time to take a profit and exit the name for the time being.
Posting on the moneygardener should pick up over the next little while as I realize I have been nowhere to be found lately.
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