The only guaranteed way to be a genius is to surround yourself with idiots.
Ziad K. AbdelnourNever measure or compare yourself to anyone other than your past self, seek to always improve
Ziad K. AbdelnourMots clés happy successful
There is nothing inherently evil in the process of making money,
and the notion is illogical, but that is one of the underlying tenets
in our present education system. We are taught from an early age
that making money is hard and that those who make lots of money
are morally suspect. American culture studies programs at some of
the nation’s leading universities have even gone so far as to teach the
absurd and illogical notion that the rich became rich because they
enjoy privilege earned on the backs of African slaves. Minority
millionaires like entrepreneur Herman Cain, Earl Graves, Sr., and
Reginald F. Lewis prove the utter nonsense of this notion, yet this
is the illogical Progressive philosophy that has permeated our education
system.
I believe that to create real wealth one must be willing to abandon
one’s limited thinking, remove the boundaries around our abundance,
and stop outlining how it is to appear in our lives. Remember not to
create boundaries and remember not to define the outcome. Most
importantly, stop letting people who are motivated by jealousy and
envy dictate what your limitations are.
History has shown time and time again that
there is no such thing as all things being equal. That is why Jefferson
wrote that our inalienable rights were life, liberty, and the pursuit of
happiness. Nothing is guaranteed in life, especially happiness.
Wealth creation is not a mathematical formula, as the truthseeking
quant geeks still want everyone to believe. In the end, their
lack of real-world experience and pride corrupted their mathematical
genius and destroyed them. You may be able to digitize a daVinci,
but that does not make it daVinci. Creating wealth is personal. It is
creating assets, creating value, or whatever act of self-perpetuation that
drives us to create a legacy.
I do not believe in diversification. Take a close look at
some of the greatest entrepreneurs in U.S. history. Henry Ford never
diversified; Bill Gates didn’t diversify. I strongly believe that the best
way to create real wealth is to put one’s eggs in one basket and watch
that basket (the right one) very carefully. In fact, one can go broke
diversifying.
The only thing that is or should be equal in the creation of wealth
is the opportunity to participate. Everything else is naturally and rightfully
dependent on personal and often exclusively inherent advantages
and disadvantages. The imagined outcomes and side benefits are
impossible to guarantee. The shared human experience should have
taught us, by any objective standard, that making a mirage your focus
will undermine your chances of finding gold.
The Boston Consulting Group recently released a study showing that
there were 5.2 million households in America that could be classified
as millionaires.1 I would love to see a candidate for national office,
especially president, come out and announce that his platform was
squarely oriented toward creating wealth, that in 8 to 10 years we
would have 50 million millionaires in America.
I remain fundamentally optimistic about
Wall Street as a marketplace and as a vehicle for wealth creation. Its
future will rightly depend on several variables, chief among them
being human choices; whether they be rationally, emotionally, subjectively
or objectively made. Financial engineering taught us that if
it could be quantified, it could be qualified. We learned about how
to use leverage and have abused that knowledge for a myriad of
reasons. We became practitioners of the transaction-based model, but forgot that long before the abacus there was trust and integrity,
anchors of relationship-based models common with Middle East and
Asian markets. It goes back to a handshake, the first and enduring
example of mutual consensus.
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