I spent weeks trying to get an appointment with “Mr. Smith.”
He was one of the most successful money managers on Wall Street at the time. And I wanted him to be my mentor.
I was only 20 years old. I had just dropped out of college and was going down to Wall Street to seek my fortune. I had the basics: the grit, determination and desire to succeed. But the one thing I was missing was experience.
So, I decided I would “hack” the system. I didn’t need to learn through my own trial and error. All I had to do was find people with that experience and get them to share it with me.
I set out to surround myself with people who were older, wiser and more successful. And a meeting with Mr. Smith was the first step.
I was over the moon when I was finally able to get an appointment.
Our first meeting lasted for close to an hour. He talked about World War I and America’s involvement. And I listened. When the time was up, I kindly asked him: “Mr. Smith, when are we going to talk about the markets?”
He smiled and said: “We just did.” At the time, I didn’t know what he meant. It took me a long time, but years later, I finally understood.
It’s one of the most important lessons to becoming a great investor. And I want to share it with you today…
How You Can Get This Knowledge Too
Mr. Smith talked to me about World War I because the markets are ultimately made up of and driven by people. If you don’t understand how people think, act and react, you’re at a big disadvantage.
And to do so, you need many tools in your toolkit to understand the world around you. Because if you don’t, you’ll end up being the guy with a hammer who sees every problem as a nail.
So, to be a great investor, you need to be well-rounded. You need to have a broad network of knowledge. Charlie Munger — legendary investor Warren Buffett’s partner — calls this knowledge “worldly wisdom.”
But memorizing a bunch of facts doesn’t help in the pursuit of worldly wisdom. As American poet Henry Wadsworth Longfellow once said: “A single conversation across the table with a wise man is better than 10 years mere study of books.”
That’s why I sought out people like Mr. Smith from different fields, industries and disciplines — to learn from them. Over nearly four decades on Wall Street, I built up a huge Rolodex of contacts.
And I want to take all of that collective experience and knowledge and share it with you through my new podcast: The Charles Mizrahi Show.
Every week, I’ll have some of the smartest minds as guests on my show to share their experience. Many have overcome incredible odds to achieve the American dream.
Together, we’ll show you why America is still the greatest country on earth … how capitalism gives us the best wealth creator on the planet … and why you should continue to be hopeful about America’s future.
It’s the kind of knowledge that’ll not only make you a better investor — but a better person, too. The best part is, it’s all for free!
Now, this podcast is still in the works. We’re putting the final touches on it this week. We will have a way for you to listen to it on Wednesday. Stay tuned.
Editor, Alpha Investor Report