About getting into NEOM early:
"You have to recognize that every ‘out-front’ maneuver is going to be lonely. But if you feel entirely comfortable, then you're not far enough ahead to do any good… Only if you're far enough ahead to be at risk do you have a chance for large rewards."
We’ve been ‘out-front’ in True Wealth over the past few years with ignored assets like rare gold coins and timber. I mean, how many people bragged about investing in timber and gold coins at your last cocktail party? None.
The second thing you have to do to win at speculating is to let the asset go up… and up… and up… In other words, DON'T SELL TOO EARLY.
To do this part well, you've got to understand the simple secret of the “third degree.”
Let me explain…
Imagine for a minute… a newspaper holds a beauty contest, and YOU can win a jackpot by guessing the winner…
In the 1930s, legendary economist and speculator John Maynard Keynes described how to win this jackpot:
"It's not a case of choosing the prettiest according to your OWN judgment, he said. It's not even a case of choosing who the average person will think is pretty. You have to go to the third degree… where we devote our intelligences to anticipating what average opinions expect the average opinion to be."
In other words… you're not looking for value in the strict sense of the word. Instead, you're looking for an investment that the average guy will someday think the average guy will buy. Get there first.
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