Nolsen Bedon, Ltd.

I worked for a mutual fund when I was younger and just out of school, got my Series 6, and on my way up to becoming a stock broker. A young gun who thought he had it all made you might say. Having always been interested in business, I took a sabbatical abroad to gain some new skills, and well, ended up staying to seek out new business ventures.

But I have to tell you that from those days I learned quite a bit about the mutual fund industry from the insider’s point of view. Most importantly, would I want to put my own money in a mutual fund? There are quite a few reasons why I wouldn’t, notably because of all the overhead costs involved and lack of personal control over the investments. As a result, I found I’d rather teach people more about investing rather than trying to sell them the products, i.e. the funds.

When I read Phil Town’s book, Rule #1, I have to say that I agreed with a lot of what he says. The main point is that he follows Warren Buffett’s investing philosophy, and I’d say that’s a pretty good idea because nobody has a better track record than Buffett does. So you’ll probably find me expounding quite a bit about Buffett on this site.

Phil Town shares my belief that investing in mutual funds will only set yourself up for many years of misery. Let’s just hope you don’t figure it out after the fact. Anyway, don’t listen to me, because he’s found a better way to do it: learn how he took $1000 and turned it into $1 million+ without using much extra cash, in just 5 years.

More about Rule #1

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