Warren Buffett’s Secret to Getting Rich on Wall Street 💸💸💸

Warren Buffett’s Secret to Getting Rich on Wall Street 💸💸💸

Have you ever heard that most millionaires are made during recessions and economic crashes?

When droves of people are getting laid off, and companies are closing their doors, and politicians are being lobbied for bailouts in a particular sector — the wealthy go on a shopping spree.

Why?

FEAR. Dreadful Fear.

Economic crisis causes fear to take over most, and the fearful bailout in troubled markets.

They sell their stocks, their company, their equipment, their property.

And they are so desperate to get out, they sell for a fraction of the actual value.

Warren Buffett said the secret to getting rich on Wall Street is this:

“I will tell you the secret of getting rich on Wall Street. You try to be greedy when others are fearful. And you try to be fearful when others are greedy.”

Financial crashes signify when everything is at its lowest cost. When everything’s on sale.

And so, the wealthy clean up on all markets when they have crashed.

Because of FEAR, so many millionaires are made during these times.

The same goes with the reverse — the wealthy are much more conservative when everything is going well in a market — when everyone is being “greedy”.

They are far less aggressive with their buying.

They are focused on storing up assets and cash, being “fearful” until the next crash, which is sure to come sooner or later.

Peace and Love