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WeWork Quietly Files For IPO

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Wealth Hacks

Mark Cuban: Here’s How You Get Rich (In 9 Steps)

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Tech billionaire Mark Cuban is known for being the awesome owner of the NBA’s Dallas Mavericks. He’s also known for making deals on ABC’s hit series “Shark Tank.”

Ever the hustler, Cuban used to sell everything from baseball cards to trash bags. “My earliest memories are re-packaging baseball cards and selling them,” Cuban told a 17-year-old on”Shark Tank.”

In this interview with Vanity Fair, Cuban draws on these past experiences and breaks down exactly how you get rich in nine clear steps.

And even though Cuban’s worth a cool $3.3B, according to Forbes, the Mavs owner still routinely comes up with ideas for money-making schemes on his very active Twitter.

Amazon announced in December the company had sold “tens of millions” of devices over the holidays, powered by smart voice assistant, Alexa.

A month later, Google then announced it had sold “more than one Google Home device every second since Google Home Mini started shipping in October.”

It’s ideas like these that helped Cuban build his billion-dollar fortune from $60, the bulk of which came from building—then selling—two technology businesses.

His secret? Learning technology on his own time. At the time, Cuban was selling software at a Dallas store called Your Business Software.

“Every night I would take home a different software manual, and I would read them,” he writes on his blog. “Every night I would read some after getting home, no matter how late.”

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ENTREPRENEURS

Facebook VP Julie Zhuo: This Is The Fastest Way To Get Promoted

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It’s the million-dollar question: How do you get promoted so you get that pay raise? And how do you move up the ranks quickly?

Facebook VP of Product Design Julie Zhuo knows a thing or two about that. After graduating from Stanford University, Zhuo  interned at Facebook, worked her way up and became a manager at 25.

In her new book, “The Making of a Manager: What to Do When Everyone Looks to You,” in which she shares professional advice she wishes she’d received earlier in her career.

Ten years in, Zhuo is now a top Silicon Valley executive. What’s the best way to advance quickly? Well, here’s what she told CNBC in a recent interview.

Share your goals….

“My advice for how to get your manager to notice you is to be really explicit about what your goals are. What do you care about? Where do you see yourself in three years? What are the skills that you want to learn and grow?”

Speak it into existence…

“Tell your manager, ‘Hey, I’d like to get promoted. What do you think it takes for me?’ What do you think are my gaps? What are the skills that I need to grow, to get better and to be able to take that pay raise or be able to perform at the next level?”

Handout: Julie Zhuo

Facebook’s VP of Product Julie ZhuoPhoto credit: Julie Zhuo

Think long-term…

“Think about where you’d like to be in three years or five years. Then try boiling it down. So, if you want to get [somewhere] in three years, what does that mean the next year needs to look like, or the next six months?”

The dialogue…

“I think this has to be a dialogue with your manager. It’s something that you talk about together, because maybe you want to do this [thing], but your manager thinks it’s going to be more realistic for you to work on these skills first.”

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Money

[VIDEO] Penny Stocks, Explained

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Penny stocks are equity investments that are traded outside major exchanges. These stocks are traded at low prices and have a small market cap. As penny stocks are illiquid and highly speculative, they carry a high risk of investment.

The US Securities and Exchange Commission (or SEC) defines penny stocks as shares with a value of less than $5. Typically, a penny stock is traded over the counter or by using pink sheets.

Despite the high risks of investment, penny stocks can be a lucrative form of investment because of its low price and higher prospects of return.

Suitable for investors with a high-risk tolerance

Investing in equity markets is risky, particularly because it’s driven by price fluctuations and volatility. Investors in penny stocks will generally have a higher threshold of risk tolerance. Penny stocks are far more volatile than blue-chip stocks.

Investors hence need to take precautions while investing in penny stocks. They need to have a stop-loss order prior to entering into a trade. This will minimize the amount of downside potential in case the markets move in the opposite direction.

Penny stocks also provide an opportunity for significant companies. These companies are generally high-growth ones but with limited cash resources.

Why are penny stocks attractive to the average retail investor?

Generally, the average retail investor associates a low price stock as a bargain. But this cannot be farther from the truth. A stock can be overvalued at $1 and can be undervalued at $250.

The average investor fails to understand this due to limited investing knowledge. Penny stocks are trading at lower values for a reason. They might experience a bull run resulting in a significant price appreciation but can also come crashing down in no time. It is far easier to manipulate penny stocks.

The “Caveat Emptor” principle should be applied when investing in penny stocks. Sure, there are success stories even for penny stock investors, but is worth the risk?

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