[Podcast] Priceless investing lessons from influential billionaires, with Mark Creedon

Today, I’m joined by Mark Creedon, and together we explore some priceless investment lessons from some of the world's most successful billionaires.

These titans of industry have not only built immense wealth but have also mastered the art of sustaining it through savvy, strategic decisions.

Mark and I are going to uncover how their golden rules of investment can be applied right here in the Australian property market.

Property investment principles from the pockets of billionaires

When Forbes magazine first began ranking the richest people in the world, the qualification to get into that top group was only 75 million US dollars.

At that time, there were 13 billionaires on the list.

In 2023, the last Forbes result of the world's billionaires the list now included 2,640 billionaires with a total net worth of $12.12 trillion – more than the whole Australian property market.

Interestingly, in Australia, we had 139 billionaires.

From property and the stock market to businesses and mining, these billionaires are all involved in some form of investing.

Together with Mark Creedon, I want to discuss some investing lessons we can learn from these Billionaires, including why they became so successful.

• Warren Buffett: "Price is what you pay. Value is what you get."
  • Cost and value aren’t the same thing, and you must be able to discern between them.
• Jeff Bezos: "Your margin is my opportunity."
  • Learn to spot inefficiencies and recognize how they can be opportunities for you to capitalize on
• Mark Zuckerberg: "The biggest risk is not taking any risk."
  • Calculated risk-taking is necessary to achieve success
• Charlie Munger: “The big money is not in the buying and selling but in the waiting.”
  • Have patience and let compounding do its thing, especially in property.
• Michael Bloomberg: "In God we trust; all others bring data."
  • Data-driven decision-making is how you make successful investment decisions
• Carlos Slim: "The key to success is not about making money but about investing it."
  • Use your money to make smart investment decisions that grow your wealth
• Richard Branson: "Business opportunities are like buses; there’s always another one coming."
  • There’s no need to rush into decisions – you shouldn’t be paralyzed with indecision, but you can wait for the right investment opportunity
  • Having a strategy is what will help you wait for the right investments, but recognize and act on them when you see them.
• Oprah Winfrey: "Do what you have to do until you can do what you want to do."
  • You may have to start small, but as you grow your wealth, you can make bigger and more profitable moves
• Ray Dalio: "Diversification is a powerful tool for managing risk."
  • Diversification can be a good strategy, but it’s important to do it at the right times for the right reasons instead of diversifying for diversification’s sake
• Elon Musk: "When something is important enough, you do it even if the odds are not in your favour."
  • You can’t do just the simplest things and expect to achieve more than average. You have to take smart, calculated risks and be willing to stretch yourself when it matters.
• Larry Ellison: "Great achievers are driven, not so much by the pursuit of success, but by the fear of failure."
  • Fear can be a good driver if it drives you in a positive way, but you can’t allow it to make you too risk-avoidant
• Warren Buffett: “Someone is sitting in the shade today because someone planted a tree a long time ago.”
  • Long-term thinking is an essential foundation for smart investing
• Sam Walton: “Ignore the conventional wisdom. If everybody else is doing it one way, there’s a good chance you can find your niche by going in exactly the opposite direction.”
  • If you do what everyone else does, you’ll get the same results as everyone else. You’ll achieve success by being able to envision a new direction instead of following the herd to the same place they’ve always gone
• Warren Buffett: “The only value of stock forecasters is to make fortune-tellers look good.”
  • Avoid trying to time the market. Instead, develop a plan for proven success with the help of trusted advisors
• Charlie Munger: “Waiting helps you as an investor and a lot of people just can’t stand to wait. If you didn’t get the deferred gratification gene, you’ve got to work very hard to overcome that.”
  • Delayed gratification is an essential skill for investors
• Winston Churchill: “If you fail to plan, you plan to fail.”
  • Wealth creation doesn’t just happen. You can’t succeed without a plan in place.

The tried-and-tested strategies of billionaire investors with the practical steps required for achieving success can help listeners grow wealth in the Australian property market.

These quotes provide actionable advice and philosophical insights that can pave the way for a robust and successful property investment journey.

Links and Resources:

Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us

Why not join Metropole’s Mastermind Business Accelerator

Learn more about Mark Creedon – Business Coach to some of Australia’s leading entrepreneurs

Get a copy of Mark’s new book here – Have a Business, not a Job

Subscribe to Mark’s Mastermind for Business Podcast here

Get a bundle of eBooks and reports – www.PodcastBonus.com.au

Some of our favorite quotes from the show:

“The property market it's what I would call an imperfect market, where there's lots of information out there, but those on the ground, those in the know, have an unfair advantage.” – Michael Yardney

“In fact, in my mentorship program, I tell people to do the opposite and to reach for the stars, for exactly the reason that you said – because while you may not reach the stars, you'll reach the moon.” –Michael Yardney

“Another benefit of negative visualisation is that by anticipating disaster striking, we're more prepared for it when it does. I guess we're psychologically toughening ourselves up, aren't we?” – Michael Yardney

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