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I was listening to an older podcast while posting and Jay said something to the effect “maybe a scavenger is just born that way.” I have also listened to the investment podcasts where the notion was promoted that people are better off in index funds and 99% of people cannot pick stocks (i beg to differ)
I actually was always a scavenger. But i ended up thinking about Ebay in a more serious way after leaning about Value investing from people like Ben Graham. I was always able to pick stocks based on the fact that ‘value investing either someone instantly grasps or they seem to never be able to grasp the concept’. To me I started selling on Ebay because in the stock market you can crush it on a good year and have nice returns like 20%, 10%, 40 % etc… But on Ebay on a much smaller scale you can get like thousand percent returns more often – which is incredible.
Anyway – my point is — anyone who is “born a scavenger” I hazard to say may have the strange makeup that may also make them born a value investor. I recommend: “The Intelligent Investor” or for more ambitious folks “Security Analysis” both by Ben Graham. I get a lot of value from the podcasts and just trying to offer back some value to the community. Hope this is helpful to someone!
Cheers,
Geoff
Norfolk Gold and Silver -
Ben Graham is awesome.
And I love the topic, which is learning and applying skills and thought processes from other unrelated areas. You used Value Investing for Online Reselling, and it makes sense. I have played a lot of poker, and I used those skills in unrelated areas (business, negotiation). Fishing and hunting are also applied (patience). My Accounting skills are used daily (something that I see some resellers not look at enough…the numbers).
I love this topic. I will have to take some time to look at the skills that I have in one area that were influenced by skills from another. Could be fascinating!
Like how raising kids helps when managing employees… 🙂
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