Three men who changed my life… The importance of chin-ups in Argentina… What you should know about mobs and manias… In the mailbag: “What comes next? Regulating how much bacon we can eat?”…
Usually, I (Chris) bring you the latest on the profit trends we’re tracking for our readers at Legacy Research.
You’ve also heard from me on the risks we see to your wealth and your freedom on the horizon.
Today, I want to do something a little different… and talk to you about three men who changed my life.
They just also happen to be the three men behind The Daily Cut… along with the nearly two dozen other advisories we put out under the Legacy banner.
Earlier this year, Bill, Doug, and Mark brought together their decades of experience… and their teams of handpicked analysts… to form a new publishing alliance, Legacy Research.
And as I’m sure you’ve seen me mention, these three legendary wealth builders recently sat down in front of the cameras of an award-winning documentary filmmaker for a candid conversation about how they made their millions… and what they’re doing to protect and grow their fortunes now.
It’s a far-ranging conversation that I know you’ll enjoy. It covers what’s ahead for U.S. stocks, the dollar, gold, cryptocurrencies, cannabis stocks… even President Donald J. Trump.
More on that later. First, I want to tell you the story of how I met Bill…
I met Bill’s eldest son, Will, while I was living in Buenos Aires, Argentina.
I was a financial reporter who spoke Spanish. And Will was trying to get a foothold in the Latin American market for Agora, Inc.
It’s the independent publishing business Bill and Mark have spent the last two decades turning into a global financial publishing powerhouse. (We now have over 4 million subscribers in 42 countries.)
Bill would come and visit us in Buenos Aires to give us advice and encouragement on the project. And something he did on that first visit has always stuck in my mind.
Whether it’s painting shutters at his farm in France… or putting a new roof on the fieldstone barn at his home in Ireland… or herding cattle on his 500,000-acre ranch in Argentina… he stays active.
And one of his routines when I met him was doing 100 chin-ups throughout the course of each day.
I met Bill for the first time at our office. It was a grand, old apartment that overlooked Avenida 9 de Julio – a bustling avenue through which 12 lanes of thick city traffic passes every day.
After a handshake and a quick introduction, Bill – fresh off a flight from Paris – began to rummage around the apartment. He finally emerged from a bedroom and started tearing long strips off a bedsheet he’d found. Then he tied these strips around a wooden broom handle he found in a store cupboard to jimmy-up a chin-up bar.
Bill then took his improvised device out onto the aforementioned balcony… tied it overhead… and started his daily routine.
(I’ve often wondered since: Did someone spot him from a passing car and wonder what this wiry 50-something gringo was up to?)
But that’s Bill…
He’s not worried about what other people think. He doesn’t follow the crowd. In fact, he’s one of the most contrarian thinkers I know.
As he likes to say, “If you do the same as everyone else, you get the same results as everyone.”
It’s simple: You have to do something different to really succeed. And to do something different… you have to think different.
That’s how Bill has changed my thinking the most. He taught me the importance of contrarian thinking.
That doesn’t automatically mean doing the opposite of what others are doing. It means always being skeptical of what he calls “mobs and manias.”
And it’s not just Bill…
Mark and Doug are big influences on my thinking, too. Mark’s strategy of getting richer, even by a small amount, every day… and Doug’s lessons on how to speculate wisely.… have helped me peel away the misconceptions I had about the way to build wealth.
It’s why I think you’ll like the short documentary film I mentioned earlier. It’s your chance to learn from these self-made millionaires… just as I did.
Longtime readers know that they split their time between their properties in the U.S., Argentina, Uruguay, Nicaragua, France, and Ireland.
So just getting them together in one room is a rare event.
This is the first – and probably the only – time we’ll be able to gather together these three legends like this. That’s why they wanted to do something to mark the occasion.
And Bill, Doug, and Mark put together a thank you for everyone who watches their film.
It’s another reason I want you to tune in… A one-time offer to gain access to ALL our research and recommendations at Legacy at a 99% discount.
In the ongoing mailbag debate around pot legalization on Monday, reader Bruce P. said:
Yes, the government should take an active role in regulating the pot industry, but no more so than the regulation of other recreational drugs such as tea, coffee, alcohol, and tobacco.
If it only affected us, then we should be allowed to put whatever we want into our bodies, but many of these drugs do damage to our body, and then we expect society to help pay the medical costs for the damage that we have inflicted on ourselves – costs that are our own responsibility.
As long as we expect society to clean up the mess we make, society should have a say in controlling the mess we are making.
But some of your fellow readers don’t agree…
What comes next – regulating the amount of sugar, bacon, or pasta someone can eat? After all, they cause all sorts of obesity related and other health issues as well. And why only stop with what we put in our bodies? Is religion or anything else we put into our brain next? Or what about too much surfing, skiing, or fishing, since they also might have societal costs? Even working too much might eventually be brought under government control if one extends his idea further.
About the furthest I’d go down Bruce P.’s path is to say that if people smoke, drink, or eat to excess, it might warrant not providing certain benefits that the abstainers are entitled to. But even that I’d have to give a lot more thought to before I’d agree.
– Al R.
Since when, under a privatized insurance program, do the rest of us pay for someone else’s unwise decisions? The private company which insures the medical needs of its customer takes the risk of paying for that customer’s bad decisions and forces them to pay higher premiums. So this situation does not need the interference or control of the “government” because it is self-regulating.
Bruce P. seems to envision a society where we are all “our brother’s keeper” subject to the unpredictable and unending changing of the definition of what we should be keeping our fellow man from doing. This idea is a true nightmare scenario.
– Robert D.
Should the feds regulate certain substances? Or does that give them too much power? Write us at [email protected].
December 5, 2018
P.S. Before you go, a last reminder that today is your last chance to hear this candid conversation between Bill, Doug, and Mark. At midnight tonight, it’s going offline. And that one-time offer for a 99% discount on all the research we publish will end. Watch it right here.