The markets didn't pay much mind to comments out of Moody's (
MCO
) today regarding another debt downgrade warning for the U.S.
government. The focus instead remains on the next couple of days
where ECB/Federal Reserve bailout news should dominate the
headlines.
Leading today's charge higher were some of the names Wall Street
analysts praised with commentary, including Wal-Mart Stores (
WMT
) and Bristol-Myers Squibb (
BMY
). The commodity space was also moving. Cliffs Natural Resources (
CLF
) and U.S. Steel (
X
) paced some of the gains. Coal has also been trying to form a
bottom, with some value players scooping up stocks like Peabody
Energy (
BTU
) and Walter Energy (
WLT
). Remember, though: spending time around the 52-week low list
looking for value doesn't tend to be a good investment strategy
from my experience. Ignore the weaker names and concentrate on
buying strength if you want to build long-term wealth.
The Money/Success Entourage
I recently saw a segment about current middleweight boxing
champion Sergio Martinez, and how he was preparing for his coming
showdown this weekend with Julio Cesar Chavez Jr. The amazing thing
is how Martinez maintains his sense of stability by keeping just
one trainer with him throughout his fight preparation (aside from a
stable of sparring partners). Most boxers when they reach a certain
level of accomplishment tend to have scores of individuals floating
all around them. The larger the number of hangers-on, it seems, the
greater the chance for others to bring you down.
Mr. Martinez has managed to keep a very sedated approach, and is
considered by many one of the top five pound-for-pound boxers in
the world. Like Mr. Martinez, I too, have kept my inner circle
quite lean through the key years of my success. I have numerous
acquaintances, but my day-to-day tends to be laser-focused.
I have also found that getting into a pretty strict routine has
been the most rewarding from a success standpoint. It kind of goes
with my methodical nature dating back to my food retail days (in my
teens), as one of my old bosses labeled me the most methodical
person he had ever met. He meant it as a compliment, as he
appreciated my daily routines. He often knew in many cases exactly
what would get done and at what time.
I've stuck to that same approach over the years, and I've tried
to pass on the methodical trait to my children - and whomever I am
doing business with. The biggest problem I see in today's
ever-changing business environment is the inconsistency in the
performance from individuals who promise to deliver results, but
rarely do. Deadlines get missed, e-mails never get returned on
time, and the story just lingers from there.
If you intend to put on a show for many people in your pursuit
of success and happiness, be prepared for bigger and bigger
distractions along the way. Instead, I suggest keeping your
expectations to yourself, getting laser-focused on your goals, and
keeping your inner circle very small. Sooner than later, you will
gain more traction than you could have ever imagined. As I
mentioned before, when Tom Reese (my co-founder in Dividend.com)
and I put our heads together to bring our site from just an initial
concept to make it the dividend research market leader it is today,
we just went at it. There was no need to check in and get
reassurance every few days to make sure we were on the right track.
We knew what needed to be done and just did it.
When investing in the markets, the best approach is to find the
right "trainer" (Dividend.com we hope), and take the necessary
actions to build wealth over the long term. Sure, there are plenty
of other valuable services out there that are worth a look, but at
some point, you will realize less is sometimes a lot more in the
research game. Which leads me to my last tip, and that is avoiding
the everyday helter skelter business media coverage of our global
markets as much as possible. You will find yourself and your
portfolio less distracted, and that's how great long-term investors
inevitably outperform those who insist on keeping score on a daily
basis.
9/11 Thoughts
Hard to believe it's been eleven years already, and the pain and
memories from that day still resonate among so many who witnessed
the terrible events that unfolded that day. There aren't too many
thoughts I can add at beyond what I remind myself of every year at
this time, and something I have shared with all of you before:
"I set my schedule differently these days, even with the
magnitude of what Dividend.com is. One day a week, it's all family
day. At night I kiss the kids to sleep, tell them about my day, and
hear about theirs. I also try to have dinner with them as much as I
can. At the end of all we accomplish, we will be remembered not for
our financial status, but truly how we treated others and
remembering to give without worrying about the consequence of what
we will receive."
For myself, Tom, the Dividend.com team, and all our families, we
would like to take this time to thank all of our bravest who commit
their lives to protecting this country in every way and also to
those who have sacrificed their lives so that all of us can live in
a country with the liberties that we have. And also, we pray for
the lives that were lost and for the families that have
suffered.
Income, Income, Income
At Dividend.com, we maintain our focus on the best
income-producing investments the markets have to offer during time
of heightened volatility. We want to make sure we have only the
most pullback-resistant names on our
Best Dividend Stocks List
. Also, if we see the market putting in what looks like a decent
bottom, we will be prepared to scale up the list of stocks we like.
Stay tuned and be sure to look for
Dividend.com Premium
member alerts along the way. Don't count on the government or your
employer to set you up for a remarkable retirement. Take control,
do your own research, and achieve your goals yourself!
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Thanks for reading everybody. I'll see you tomorrow!
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