Self described entrepreneur Mark Cuban, star of the Shark Tank, owner of the Mavericks and self-made billionaire tells all in a recent interview, detailing his views on financial success and what it takes. Holding nothing back, he leaps into the discussion declaring, “I think buy and hold is a crock of shit.”
A fiery start, nothing less than expected from the financial firebrand, and more non-conventional wisdom was to follow.
Mr. Cuban proceeded to detail his common sense approach to investment, declaring people should keep their assets in cash unless you have a real commitment to something. Sound advice which could have saved lots of money for the hapless masses who have gone into an endeavor half cocked.
Mr. Cuban is referring specifically to investment, but the advice transcends into all areas of life. If you don’t have a real commitment to a business, don’t start it. If you don’t have a real commitment to a particular career, look elsewhere until you find it. Words to live by—whether applied to entrepreneurship, personal finances, or success in other aspects of your life.
He goes on to explain his approach to the markets including such statements sure to drive the conventionalists crazy as ‘diversification is for idiots.’ Though we may not all be billionaires, his approach, and his view on life can be chunked down and applied successfully in our own — as we all look for opportunity and value.
See the entire interview here:
First thing I would do is pay off all your credit cardsMark Cuban
Later in the interview, Mark Cuban tackles how to get the U.S. economy churning. He covers the uncertainty caused by patent laws and its impact on job creation and defies conventional wisdom in recommending the government invest tax dollars into private companies in order to create jobs.
Definitely a free thinker on financial topics the Shark Tank star, whether you agree with him or not, it’s always well worth considering Mark Cuban and he is never afraid to challenge conventional financial wisdom.