Iman, Gisele Bundchen, Linda Evangelista … my favorite supermodels, and for good reason, they are also great business models.
Iman has a cosmetics company and is a pioneer in her field, developing flattering shades of makeup and marketing for women of color. She markets via Home TV shopping and it is a phenomenal way of reaching out to ladies to preview and shop in the comfort of their homes. In investing, it’s the sure fire way of getting very profitable — begin in the area you understand, focus rather than diversify. And if you need some heavy weight to back that up, no less than Warren Buffett says diversification is
Gisele Bundchen is known as the highest paid supermodel, and she does not waste those talent fees. Apart from being an entrepreneur with her own line of sandals / flip-flops, she made news when she changed her preference to be paid in Euros rather US Dollars when the Global Financial Crisis hit the US. (Article here) Now that’s being astute — be aware of the strength of currencies that directly affects our pocket. (Think of all that shopping money!)
Linda Evangelista is not known to be great in business, but the phrase “I will not get out of bed for less than 10,000 dollars” is attributed to her. That means being selective of the opportunities (especially if you’ve earned the right!). This is so critical in investing or trading because people tend to put their money in an investment not knowing how much they are going to get back. This is sooooooo wrong! So wrong! You must know how much you could make BEFORE entering an investment. And it’s so easy, by checking the potential reward based on your Risk. Look at the historical prices at your desired timeframe, nominate your Initial Risk or Stop (how much you can afford to lose at this particular investment). For example if the 1month High is $15 and the current price is $12, if you nominate your risk as 50cents, and there is $3 to be made from $15 less the $12, there is 6x you can make out of the 50cents of your Initial Risk. The good thing about this is you don’t just enter any opportunity, use your capital wisely on what can give you the best returns, not to mention save on transaction costs. There are also expectation models that you can refer to when you target a price movement that I teach in my workshops.
This is so important to maximize your profits and reach your goals.
So join me at my worshops
March 22 – Megatrade, SM Megamall, Manila, Philippines – Register here
April 21 – Sydney, Australia (keep posted for details)
April 23 – Singapore (keep posted for details)