Tonight I'm going to post a clip from today's daily update.
"Now I’m going to tell you the three ways to get rich in the stock market. The first and most dependable is compounding. Start early in life, buy good companies that throw off cash flow as dividends, reinvest those dividends and in 30-40 years you will be rich.
Second: Find a superior system that consistently makes money and then stick with it thru thick and thin. Every system will have losing trades. Every system will have losing years. If you can stick with your system for 30-40 years you will end up rich. If you had invested $10,000 in the COT system in 1986 and used leverage as described above you would now be worth somewhere around 5-10 million dollars.
Third: Spot a secular trend as it begins, get on and hold on till it’s done. The third is how billionaires are made. If you had spotted the bottom of the bear market in 74 and just bought and held on till 2000 you would probably be worth many, many millions at that time. Do any of you happen to recall who was buying in 74? That’s right Warren Buffett. We have that very same opportunity right now or I should say we had. Commodities have entered into a secular bull market. Most will gain 1000-2000% before this bull is over some like silver may move 4,000 or more %. To realize this incredible potential you have to be willing to hold on. There are going to be countless investors who are going to jump ship especially in this second phase. The media will broadcast repeatedly that this is a bubble. The naysayers will be many. If you can ignore all this crap and just keep holding you will be rewarded, big time. We will know when the end is approaching because everyone you know will be investing in commodities. Everyone at work, at the gym and the guy filling up his car next to you will be bragging about his gold or silver or XOM stock. When you see this start to happen then you’ve got about a year to a year and a half before it’s all over. BTW at that time nobody will think it’s a bubble anymore. They will give you countless reasons why oil prices will rise into the foreseeable future even though we’ll see drilling rigs off both the FL and CA coast. Gold and silver mines will be sprouting up daily. We’ll be prepared though and we’ll know when to jump ship and move on to the next bull market. By that time you should have made your fortune. See you at the top!"