Our KLR Mastermind members Rob & Bobbi Hiebert who hail from Alberta Canada are really making KLR Principles zing for them.Here is a report from Rob :
How's it going eh,
Spring is slow coming, and the grass is behind, but were still having fun inspite.
Thought I would share something with you.
Spring is slow coming, and the grass is behind, but were still having fun inspite.
Thought I would share something with you.
A couple of month's ago while I was waiting for Bobbi and Wyatt in town, I popped into the thrift store to see if they had any good books. I found something intriguing, remember this is rural Alberta (middle of nowhere, small town).
In a half hour of snooping through the used books I found two books that forewarned of the next great depression and one that is about the forecoming economic "Crisis". What I found interesting is that none of these books are talking about what's happening today. They are all from previous recessions. One book was printed in 1978, one in 1979, and the third one was printed in 1988. All three of these books were best sellers, and they are good reads but looking back the titles of these books are little bit misleading.
I have a fourth book that warns of the next great depression, but this time it's printed in 2009. It's written by Harry Dent, I wonder if will happen this time an actual Great Depression. Could be a great opportunity.
(In yesterday's Sunday Telegraph - Harry had an article - "Biggest Crash Yet to Come",
link to another story in Courier Mail) Grahame
I got a visit from one of my old college buddies the other day. We had a great visit, it has been 9 years since we saw each other. He told me he and his wife were selling life insurance and mutual funds part time, and he was a university student the other part of the time.
Since I like everything about investing and business I asked him to explain to me how he would go about setting me up for retirement. He did a very good job of explaining compound interest, diversify through mutual funds, how the stock market historically does 11-12%/year over time, and that if I was in it for the long run I could get my money to compound at 10%/year buying mutual funds.
Sounds Great...Two weeks later he stopped by to give me a quote on life insurance, and he was also interested in how I was doing trading cattle and why I was not interested in mutual funds. Well that was my opportunity to really test him. I explained sell/buy, overvalued/undervalued and cashflow.
I did a quick market report on my spreadsheet to show him the profit potential in the cattle industry on that day. We talked about the power of only working with what we know today. Everytime he would say "well what if this happens...." we would just go back to the principles of KLR marketing and use it to our advantage.
Since I was on a roll, and he asked, I explained why I didn't want any mutual funds. We both enjoyed the converatation and before he left he said "well if that's the way they actually work I don't want to sell these anymore". I said he better check with the mutual fund company and make sure I had my facts straight, and let me know what they said.
A few days later I hadn't heard from him yet so I sent him a message on Facebook, turns out I was correct.
He's still selling mutual funds, and we're still friends, but we both know are business's a little better.
So there you go you can always find someone with a different point of view. Future looks bleak, future looks promising. Me, I am sitting on the fence, sometimes the best descision is to make no descision at all.
He's still selling mutual funds, and we're still friends, but we both know are business's a little better.
So there you go you can always find someone with a different point of view. Future looks bleak, future looks promising. Me, I am sitting on the fence, sometimes the best descision is to make no descision at all.
Rob HiebertAlberta, Canada
P.S. I was charged by a Blackbear the other day, I definetly did not "sit on the fence". Turns out my decision probably was not the best descision according to the experts. But hey I'm still here so maybe it was the best choice.
Well written Rob - What do other readers think - let me know.
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