Minimize risks, maximize rewards

This is news to me, but not to people in the hedge fund market. Thanks to a friend who told me about this and I then realize how these information / internet marketers work. These guys don't bear the brunt of the risk, and yet, they still profit from those who take risks.

The brief summary of the article is this: The miners of the California Gold Rush didn't make much money, but the people who sold shovels did! Take the classic internet marketeer David D. This guy taught everyone to be "Cocky and Funny." While he pumped out one product after another, more seminars after previous seminars, but he never had to go out to face rejections himself. Or infomercial / TV-celebrities who teach finance, you know them on MSNBC, PBS, e.g. Susan Ozman, Robert Kiyosaki,...

Let's ask ourselves a very simple question, if they are so good at amassing and growing their wealth, why do they want money from us to access their top secret information? Why don't they apply what they preach, assume the risk so that they can reap the reward?! This is similar to the question, that as a kid, I used to ask, why don't psychics use their knowledge to enrich themselves instead of working so hard?! The truth is that it's much easier to tell people what to do and charge us up front, so by the time we have tried and failed by taking risk they suggested, they have taken our money and left town!

Yes, it's a great scam to get on this bandwagon. You can make this work for you too... Don't do what I do here, trying to expose these dirty little secrets, publicly asking the simple and obvious, but often left unanswered questions. Instead, take a look at any risk taking activity, teach people how to do it, charge them money for pointing that out, and just like those who made money during the California Gold Rush, don't go there and mine for gold, instead, be the guys who sell shovels. Instead of taking risk and try to be that next up-and-coming actor, be the agent, or better yet, be the guy who teaches gullible people how to be agents, actors,... And if you haven't guessed it, become a life coach. You don't have to have a successful life, just learn the necessary b.s. skills to tell people how to live their life. This, my friends (as John McCain often says that with his evil grin), is how you can minimize risks and maximize rewards.

Those, who can, do. Those, who can't, teach.