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Editor's Note: Over the next two days, we'll be featuring a special two-part series from Dr. Steve Sjuggerud. These essays were originally published in last Friday's S&A Digest. We received so much positive feedback – and we think this idea is so important – that we decided to share it with all of Steve's DailyWealth readers. Read on to find out...
The Simple Secret to My Success in LifeBy
Wednesday, May 7, 2014
What's my secret?
Friends at home in Florida think that I have some sort of "Golden Touch."
They want to know my secret to repeatedly making great investment decisions.
Usually, I just shrug off their questions without much of an answer. "Just good luck," I'll say. Or something like that.
The thing is, I do have a "secret" that helps guide my investment choices. Even better, it is not hard to understand or to put into action. Today, I'll show you what I do... And I hope you will always remember it.
My friends at home have seen me succeed over and over again. Usually, it appeared from the outside that what I was doing was a bit crazy. I wasn't. I was simply following the secret...
For example:
So what is my secret? I call it "The One Critical Thing."
My secret to success is figuring out the One Critical Thing... and investing accordingly.
Most aspects of life have at least One Critical Thing that's the key to success. (Some things have two or more Critical Things.) The trick is finding that One Critical Thing and sticking with it.
Take golf, for example... golf has a few Critical Things, like:
1. Don't swing too hard/keep your head still.
2. Don't take big risks. If you simply do these two things, you can become an extremely good golfer. I'm sure of it.
Finding that One Critical Thing can bring you a bit of peace and clarity. Most people get bogged down by too much noise and advice, and most of it is not that helpful.
When you start to feel bogged down and overwhelmed, just return to the Critical Things. Chances are you'll come out ahead.
Human nature is a funny thing, though...
Even when we know these Critical Things... even when they are obvious... we still want to fight them. Go back to the golf example. We want to bend these rules, test them, take them to their limits, and ultimately break them.
We want to think that this time is different. It is not.
So what I want to find are these Critical Things – both in the markets and in life.
The way I make the biggest money – by far – is when human nature gets in the way... when people think the Critical Thing no longer matters. That happened in the three examples I gave at the beginning of this story. When I see people forgetting about what matters, I simply bet that the Critical Thing will end up mattering after all.
It's simple.
In tomorrow's essay, I'll share a few Critical Things that I think are moving the markets today and will continue to move the markets. Sticking to these ideas is how I make my money.
Good investing,
Steve Sjuggerud
Further Reading:
Find more of Steve's tips for investment success right here:
"Is it possible to safely double (or triple) your money in just a few years through investing? The answer is YES... You basically need just two things..."
"You will face this situation sometime with one of your stocks, if you haven't faced it already. So... what should you do?"
"If you see an investment that you like... but you're a little worried or embarrassed about some warts on it... take my advice here..."
Market NotesBEING HATED HASN'T STOPPED THIS STOCK One of the most hated companies in the world is enjoying a big uptrend. That's the message behind today's chart.
In financial publishing, there's a sure way to generate furious subscriber feedback: Just write about Monsanto (MON). Monsanto is the agricultural giant that produces "genetically modified" seeds. Some people believe these seeds are terrible for humans. Monsanto is also known for employing armies of obnoxious lawyers.
Like it or hate it, Monsanto is one of the stock market's ultimate "food plays." Monsanto's products massively increase crop yields. In countries where farmland is starved for nutrients and water, Monsanto seeds are attractive to use. The company has strong profit margins and strong revenue growth.
As you can see from the chart below, being hated hasn't stopped Monsanto from producing big stock returns. In late 2010, the stock was at $45 per share. Now, it's at $114 per share. It's a bull market for Monsanto.
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