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Why I Share My Best IdeasBy
Tuesday, June 16, 2015
It might be the most valuable secret I've ever learned...
It has made me a wealthy man.
I learned it from Porter Stansberry – a childhood friend of mine and the founder of Stansberry Research.
The secret is simple... but it sounds like a recipe for business disaster: share your best ideas.
Today, I'll show you a little bit behind the scenes of our business and why we share our best ideas... It's a principle that you can likely apply to your life as well. Let me explain...
When I first saw this principle in action, I thought Porter was crazy...
I've watched him share our best business ideas with our direct competitors for years. And for our entire careers, we have always shared our best investment ideas with our customers.
Why does Porter do this?
Why don't we keep our best investing ideas for ourselves and share our second-best ideas with our customers?
It's an interesting question.
Porter recently answered this question in the Stansberry Digest (before he went on to share his favorite investment strategies). Here's his response...
Sharing our best ideas with our subscribers (and our competitors) has been a guiding principle of Porter's. And it has generated incredible goodwill for us. It turns out, that goodwill has turned into far more dollars for us in the long run than if we'd simply kept our best ideas for ourselves.
So rest assured, we are delivering our very best ideas to you. And it is in our best interests for us to share them with you.
When I first saw Porter sharing our best ideas (even with our competitors), I didn't get it. I thought he'd lost his mind. But over the long run, the results have been amazing.
It comes down to another principle from Porter... giving you what "I would want if our roles were reversed."
Very few people do this. And very few people have generated as much wealth as Porter has. Think about that... and how you can apply this idea in your own life.
Good investing,
Steve
Further Reading:
One of the most common questions asked of the investment-advisory business is: if you're so smart about the financial markets, why are you writing a newsletter? Stansberry Research Editor in Chief Brian Hunt offers some insight on this question in this classic interview.
Steve calls Porter the smartest guy he knows. "He does things most bosses don't do. It's made him a wealthy man..." Steve writes. So what does Porter do that has made him more successful at what he does in a shorter period of time than anyone else? Find out here.
Market NotesCREDIT-CARD COMPANIES ARE STILL SOARING Today's chart offers more good news for the U.S. economy: Credit-card companies are soaring.
Over the past few years, we've highlighted many charts that reveal an important idea: While the U.S. economy isn't booming, it can't be doing all that bad. For example, we've noted the tremendous share-price strength in super-bank Wells Fargo and American entertainment giant Disney. Add credit-card companies to that list...
Credit-card companies like MasterCard (MA) and Visa (V) act as sort of "bellwethers" for the U.S. economy. When people are spending money and paying their bills, credit-card companies make plenty of money... sending shares higher.
As you can see below, the major credit-card companies are enjoying huge, steady uptrends. Over the past month, both have set new all-time highs... and both are up more than 125% over the past three years. It's the latest proof that "things can't be all that bad" in America.
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