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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: Kim W. Brasington who wrote (4495)10/11/1997 7:32:00 AM
From: Henry Volquardsen   of 20681
 
Excellent post Kim. I agree wholeheartedly with your comments about investing. I have been a student of the subject since my dad first started me investing when I was 8. The people I have seen who have been successful building wealth have indeed done so by superior research and by not being afraid to trust their instincts and invest where others have avoided. The big cap stocks are fine investments but they are relatively safe and you are not going to become wealthy investing in them unless you start out that way. Their place in an investement strtegy is more in the area of preservation of capital, and this is definetly an important part of any personal plan. To build real wealth you have to become in effect a venture capitalist. You have to seek out those investments with a compelling idea and a potential for geometric expansion. You have to find these ideas well before the crowd. This requires research, research, research. The internet has indeed become an excellent tool for this. But it also requires something the internet will not bestow. Patience and fortitude. Seeking out rare opportunities is a lonely job and their are many naysayers who will tell you you are nuts either because of jealousy or their own fear of success. You need both knowledge and self confidence. Naxos certainly fits my description of a "venture capital" investment.

BTW I agree the exceptional literacy of the 13 colonies was a major factor in the success of the founders of the US. But they was an additional factor, cultural. A culture of independance, self reliance and the absence of a rigid class stucture were very important as well.
There have been literate cultures before that have failed because they lacked the whole package.
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