Hetty Green was considered one of the earliest American
value investors and the wealthiest female speculator of her own time. She lived
from November 21, 1834 until July 3, 1916 (aged 81). She was the first American
woman to make a significant effect on the stock market. Her greatest quality is
prudent speculation, especially considering the standards of her times. She
invested and reaped rewards in unique ways. On the other hand, she was
remarkable for being mean and stingy. At the time of her death, she was worth
up to $3.8 billion (inflation-adjusted to 2006). Her 2 children inherited her
wealth, and after their death, over 50% of the wealth was taken as taxes and
the rest went to charity.
Lesson
There are certain lessons you can learn from Hetty Green.
1. Women can become great traders and investors. Successful
trading isn’t the birthright of men only. In fact, there are many women all
over the world who trade successfully and who’re smarter than some men in the
markets.
2. If women are properly educated about the financial markets,
they’ll develop very great ability to trade permanently victoriously. Women
have certain qualities that can be used to their advantage in the markets;
something that’s very rare in men (unless they’re discipline). They tend to be
cautious and conservative, while they take risk control very serious.
3. Hetty’s trading methodology - just like that of the
Oracle of Omaha (Warren) – is to be greedy when people are fearful and to be
fearful when people are greedy. No wonder Hetty is known as the Witch of the
Wall Street. When people are extremely and irrationally confident about the
stock market, then it’s time to sell. When people dread the markets too much,
thus becoming apathetic towards it, it’s time to buy. This has become a
timeless market principle.
Conclusion: Are
there any changes in your personal life that
prompt you to consider your tomorrow? Are you ready to start making fortune
in the markets, though it doesn’t come overnight? Or would you prefer to limit
yourself to your monthly salary, including the whims and caprices of your boss?
The choice to be a trader may seem daunting, but the future reward makes it
worthwhile. If you’re a woman, getting properly educated and making an attempt
in trading would really change your perception of the financial markets.
This article is ended by a quote from Hetty:
“There is no great secret in fortune making. All you do
is buy cheap and sell dear, act with thrift and shrewdness and be persistent… I
buy when things are low and no one wants them. I keep them until they go up, and
people are crazy to get them… When I see a thing, going cheap because nobody
wants it, I buy a lot of it and tuck it away. Then, when the time comes, they
have to hunt me up and pay me a good price for my holdings.”
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Copyright (C) ADVFN PLC
For more articles, go to: http://www.advfn.com/newspaper/authors/azeez-mustapha
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