Introduction to: How to Make More Money by Sitting on Your Butt
Can you really make more money by just sitting on your butt?
You bet you can.
It’s a primary lesson I learned from my studies of Warren Buffett, George Soros, Carl Icahn, Sir John Templeton, Bernard Baruch, Benjamin Graham, and other highly successful investors.
I would go so far as to say it’s what underlies their success: they all spend most of their time thinking very hard about what they’re going to buy—and why.
And as much (if not more) time about what they’re not going to buy.
Which means that most of the time, they’re neither buying nor selling. But “sitting on their butts” analyzing what might be (and what will not be) their next investment.
And perhaps even more importantly: analyzing their mistakes so they can be sure to avoid repeating them.
Indeed, if you’re NOT a “butt-sitting” investor some (or better, most) of the time, you’ve increased your chances of losing money in the markets.
As legendary trader Jesse Livermore put it: “It was never my thinking that made the big money for me, it always was sitting.”
And George Soros: “When there’s nothing to do, do nothing.”
While Warren Buffett spends most of his time “sitting on his butt”—reading annual reports.
This is just one of the many contrarian conclusions I’ve come to in the 49 years I’ve been involved in the investment marketplace.
The following pages cover a variety of different topics which mostly demonstrate that “sitting on your butt” should be an essential component of your investment strategy.
Let’s begin with . . .
