If you listen to rap music irrespective of old school or new school you are familiar with the legendary Eric B. and Rakim.  At their peak in the late 1980’s this duo produced music that demonstrated lyrical prowess and delivery years before and in many instances still ahead of their time. Their discography is loaded with hits such as ‘I Ain’t No Joke’, ‘The R’, ‘Don’t Sweat the Technique’ and one very notable track is entitled: ‘Follow the Leader’.  Which leads me to ask the following: Who is leading you?

In ‘Lead the Field’, author Earl Nightingale, noted and I paraphrase, that we all follow someone. Are you following a leader or a follower?  Have you questioned what makes the person or group of individuals that you follow qualified to lead you?  In many instances, we follow followers because they are well liked, attractive, have physical attributes that we are told we need by our eternal leader known as the television (Sofeé).  Most people, if asked, would subscribe that they are not victims of following a follower, but rather believe they are under the apprenticeship of a leader.  A serious contemplation should be given to whom you select to follow.

If you plan to be alive after today, literally meaning the next calendar day, you may want to give strong consideration to whom you are following.  As Rev.Jesse Duplantis points out spiritually, physically, and financially.  You should have a leader to whom you subscribe to at a minimum to the aforementioned.  I would like to deal with the latter more specifically, the financial.

Rick Rule, Chairman of Sprott U.S. Holdings Inc., while speaking at the ‘Oxford Club Investment University’ conference this past week in St. Petersburg, FL., made reference to ‘Pareto’s Law’, affectionately known as the 80/20 rule.  Mr. Rule pointed out that Economist Vilfredo Pareto was able to deduce empirically that 20% of a given population provides the most utility in a group, organization, or society.  Juxtapose on the other end of the spectrum, Pareto noted that 20% of the population make up the worst in a group, organization, or society. However, Mr. Rule made a further distinction that there is yet another 20% within the 20% of Pareto’s Law that are the extreme of the extreme in each group, organization, or society, which would mean there is a 4%. Meaning it is the 4% that are truly the best of the best or worst of the worst (Get It :).

I am very passionate about people, teaching, and investing.  Our leader the television often likes to make elicit class warfare by distinguishing the 1% vs the 99%.  Pareto’s Law demonstrates otherwise as does Mr. Rule.  So, how does one become one in the 4%?  Simple, but not easy, you follow a leader and then become a leader. Remember, you cannot be who you are not, but you can become who you wish to be.  Think about that one for a second. When I first heard it myself, I said: ‘huh?’.  Another famous quote by Mr. Rule is: “Either you’re contrarian or you’re a victim”. Thus pointing out that the 4% of the super successful investors don’t subscribe to the investing theory of the masses by investing in mutual funds, bonds, and CD’s. The 4% are contrarian investors.  They understand and apply axiom’s that are irrefutable but contrarian in application.

I am not saying that you cannot succeed financially through mutual funds, bonds, and CD’s.  But I assure there are safer and much more expedient ways of accomplishing your financial dreams.   Now back to Mr. Rule’s statement of “Either you’re a contrarian or you’re a victim”.  Too often as investors our investments are not based on any fundamental understanding of the investment, company, or industry.  We blindly accept what our eternal leader the television, through financial news networks direct us to purchase.  I CAUTION YOU, FIND A NEW LEADER! ! !

Throughout the years I’ve spoken to thousands of people interested in becoming investors but didn’t know where to begin or whom to follow.  Although my investment philosophy has expanded, I have never removed a leader from my recommended list of leaders to follow for investing. Invariably, leaders should make us strive to be better.  Leaders should demonstrate integrity to the very best of what we ascribe to accomplish or become.  So for those of you who have inquiring minds and wish to accomplish financial success to become a part of the elite 4% I submit the following leaders:

Earl Nightingale

Robert Kiyosaki

Mike Maloney

David Morgan

Eric Sprott

Rick Rule

This list is composed of a set of elite individuals that have a unique perspective that is contrarian and just down right successful.  The thesis and narrative for each are compelling. The intellectual, financial brain power within each, respectfully, are life changing. I caution you, if you are not ready to change your financial life then please don’t act, follow some followers and remain in your comfort zone, and when things don’t work out blame someone else.  However, if you are ready to change your ideology and employ a new methodology to investing to become a part of the 4% then welcome! We’ve been expecting you :).

In closing, Eric B. and Rakim had street knowledge that they conveyed in their songs. They had skill, energy, and success. Somewhere in their endeavors they ‘Followed a Leader’. You can and should too with your investments. Are you wise enough to discern the right leader for you?  You may not like the song, but at all costs please Follow A Leader!

 

Sofeé

sofee.mj@gmail.com

 

The featured image was by: Flowizm