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Saturday, April 14, 2007

The Witch of Wall Street

Hetty Green (1834-1916) was possibly the most wealthy woman from the Gilded Age. Her advice is from a chapter "Counsels of Successful Men" in a book Success and How to Win It, published in 1904.

1. Invest in real estate. Buy a house for $5,000 that can soon be sold for $6,000.
2. Be satisfied with a profit the proportion of which corresponds to the size of the investment.
3. Success is a stranger to imitation. People with money to invest should pay no attention to the doings of others but look on things from their own point of view.
4. The goal of success is not always reached by the roughest road. The path is an easy one to find. That is why so many people miss it.

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