Liquid Millionaire - isaco

9
Liquid Millionaire
• In January 2001, I went to see my mentor and hero Bill O’Neil.
Bill was speaking in Miami and what I learned from him seriously
increased my overall knowledge and understanding of how the
market really works.
• At this seminar, I remember my beliefs about what was possible
getting smashed. For example, O’Neil explained that some of his
money managers were making between 100% and 600% gains
in a single year.
• In 2001, the second year of what is now known as probably
the worst bear market in history, I managed to return 31.74%
beating the Nasdaq index by 52.79%. 38
• I was shocked but also delighted to learn that my 2001 return
beat the Number 1 UK fund manager Ashley Willing who was
managing a fund called Gartmore UK Focus which incidentally
was an investment fund that returned 13.72% for the year. 39 Th is
success of mine spurred me on even further and helped give my
confi dence as an investor a serious boost.
• In January 2002, I fl ew over to New York to see O’Neil again.
My knowledge deepened.
• In October the same year I recognised that the market had found
a bottom, but I did not jump in until I was absolutely certain that
the great bear market was over.
• Because I had learned that the big money was always made in the
fi rst two years of a new bull market, 40 I decided to contact my
bank manager to ask if the bank would consider lending me £1
million pounds. Seriously, I asked if I could borrow £1 million
pounds.
• My bank manager thought I had lost the plot. He said, “Do you
know that the US and Iraq are in confl ict and a war could soon
erupt? What if Saddam Hussein uses chemical and biological
warfare?”