Club member Tim Moore was the speaker at our regular club meeting yesterday and presented a program which quite literally challenged the status quo thinking about investing in the stock market for many “small” investor’s.
Tim has a long history as a financial advisor, beginning his career at a large Wall Street investment firm where he was taught to sell products such as mutual funds and annuities. Over the course of time, Tim realized that the products and practices of wealth management didn’t provide sufficient growth opportunities for the middle class. The middle class can’t invest more, so they need to earn more.
Wealth management is great for the rich, the middle class need “wealth creation opportunities.” Tim takes the Warren Buffett quote to heart, “Diversification is protection from ignorance, and it makes little sense if you know what you’re doing.”
Warren Buffett knows, what academia has verified, that owning a handful of the “RIGHT” stocks, is the best way to build wealth for the future. What Tim refers to as wealth creation accounts. For many, that can mean owning shares in companies where we spend our money, such as “Amazon, Apple, Home Depot, Netflix, Starbucks and a host of others.
A convincing argument was made, comparing portfolios returns of individual stocks to index funds over same time periods. He also spoke about how labor generates income, while ownership generates wealth.
Displaying not only a deep knowledge base on this topic, Tim is also passionate about educating and empowering people, so that they may have more control over their destiny. He’s been “preaching” this message at his church and at Rotary and in other groups at no cost because he so strongly believes in his message and his mission.
There’s a “wealth” of information available on Tim’s LinkedIn profile “Moore Money Academy”