The Best Investor of All Time

Photo by Jon Tyson on Unsplash

If someone asked you who you believe is the greatest investor of all time, who would you choose?

Maybe Warren Buffett, Jim Simons…and a few more popular names would come to mind.

But how many great anonymous investors do you know? I’m talking about your average Joe or Jane down the street. Their life may not be flashy, they may not drive the fanciest car but there are secret millionaires all around us.

I bet some of you reading this have achieved quite more than you ever imagined yet you won’t be discussed in the news.

You’ve likely heard the story of Ronald Reed, the gas station attendant and later janitor, that amassed an $8 million portfolio, earning him upwards of $20,000 in dividend each month. If you don’t know about Mr. Reed you can find out more here.

While you may be familiar with Ronald Reed perhaps you have not heard of Grace Groner. Ms. Groner worked for 43 years as a secretary for Abbott Laboratories. In 1935 she purchased just 3 shares of the company’s stock for about $180. Over the years as the shares split and Grace reinvested her dividends this small investment and a whole lot of patience turned into roughly $7 million upon her death in 2010. You can find out more about Ms. Groner here.

Another less known great investor was Anne Scheiber, who turned $5,000 into $22 million between 1944 and 1995. Anne worked as an IRS auditor for most of her life where she quickly figured out that the best way become “rich” was to invest in stocks. She did all of her own research on the stocks she purchased, practicing a buy-and-hold investment style trying to purchase high quality companies that she understood. Her portfolio boasted nearly 100 unique stocks and generated upwards of $750,000 in annual income. You can read more about Anne here.

Each of these 3 individuals had a few things in common. First, they all worked average jobs earnings average salaries. Second, they all understood the “time value of money” concept and had the patience to let their investments work for them. Third they all, for the most part, followed a buy and hold dividend strategy. Fourth, they all lived below their means which allowed them to have the necessary capital to start their investment journey in the first place.

The point is that you don’t have to earn a lot of money to be rich, you don’t have to invest in the next hottest stock to create wealth and you don’t have to be a genius to be successful in the stock market.

I bet some of you have inspiring stories of your own investing journey! If you’d like to share it with the world it would be my pleasure to help you do so.

No matter how small or how large your success is, if you’d like to share your story and inspire others please reach out to me at the email address below.

longacresfinance@gmail.com

P.S. I am going on vacation with my family next week so there will likely not be a newsletter next Thursday. We will be visiting Banff National Park in Canada, I’m very excited to see all of the beautiful features this park has to offer!