Building Wealth Relies on How Quickly You Can Adapt to New Market Conditions
Drunk Bridesmaids and Fast Cash
Last weekend, my cousin’s daughter got married.
It was a destination wedding that took me from upstate New York to Ocean City, Maryland. A long haul, to be sure, but I wouldn’t have missed it.
The wedding was lovely, and it was great to reconnect with family I haven’t seen in years. That being said, I’m not big on weddings in general. Maybe I’m just an early-stage curmudgeon, but I’ve never really been a fan of the obligatory traditions of Western weddings.
Garter tosses, chicken dances, the bride and groom smashing pieces of cake into each other’s faces.
I know it sounds horrible, but unless there’s a fun, drunk bridesmaid who, for some inexplicable reason, wants to hang out with me, or a family member who brought enough weed for everyone to share, I don’t typically enjoy weddings.
This time around, the latter happened. And my cousin, his wife, and I got just high enough that I was able to coast through the night with love for the newlyweds and a healthy appetite for wedding cake.
I may not be the sharpest tool in the shed, but I do know that if you don’t know how to adapt and acclimate to new and sometimes uncomfortable experiences, you will struggle.
Whether it's with your personal relationships, your career goals, or your investment strategies, life is very difficult if you’re not flexible enough to adapt to new challenges and unfamiliar conditions.
I suspect this is what makes some of the world’s most successful investors so stinking rich: the ability to adapt to and ultimately profit from new market directions.
Certainly this has been the case in energy, where we constantly have changes in the market that allow us to build wealth on multiple fronts.
In fact, my colleague Chris DeHaemer just discovered a very cool way to make a quick buck by capitalizing on a new UN rule that's going to disrupt global shipping markets in a very big way.
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Some analysts are calling it the "shipping Y2K." But for us, it's simply one more opportunity to make some money in the energy game.
Now, while most of my focus over the past few years has been on pot stocks, energy markets fluctuate so much that, if you have the ability to adapt to those fluctuations quickly enough, you can really clean up.
In fact, through my weekly trading service The Weekly Score, I’ve bought and sold a number of leveraged oil ETFs and locked in double-digit gains every single time.
Although I encourage investors to focus primarily on the long game, there’s certainly nothing wrong with making a few smart trades throughout the year in an effort to pull in a little fast cash.
But again, in order to do that, you have to be willing to quickly adapt to new market conditions. If you can do that, you can certainly make a lot of money.
To a new way of life and a new generation of wealth...
@JeffSiegel on Twitter
Jeff is the founder and managing editor of Green Chip Stocks, a private investment community that capitalizes on opportunities in alternative energy, organic food markets, legal cannabis, and socially responsible investing. He has been a featured guest on Fox, CNBC, and Bloomberg Asia, and is the author of the best-selling book, Investing in Renewable Energy: Making Money on Green Chip Stocks. For more on Jeff, go to his editor's page.
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