Hi,
David
M. Rubenstein is Co-Founder and Co-Chairman of The Carlyle Group, one of the
world’s largest and most successful private investment firms. Established in
1987, Carlyle now manages $369 billion from 29 offices around the world.
He’s
Chairman of the Boards of the John F. Kennedy Center for the Performing Arts,
the Council on Foreign Relations, the National Gallery of Art, the Economic Club
of Washington, and the University of Chicago.
Mr.
Rubenstein has served as Chairman of the Boards of Duke University and the
Smithsonian Institution, and Co-Chairman of the Board of the Brookings
Institution.
He’s
an original signer of “The Giving Pledge,” a significant donor to all of the
above-mentioned non-profit organizations, and a recipient of the Carnegie Medal
of Philanthropy, and the MoMA’s David Rockefeller Award, among other
philanthropic awards.
Mr.
Rubenstein is a leader in the area of Patriotic Philanthropy, having made
transformative gifts for the restoration or repair of the Washington Monument,
Lincoln Memorial, Jefferson Memorial, Monticello, Montpelier, Mount Vernon,
Arlington House, Iwo Jima Memorial, the Kennedy Center, the Smithsonian, the
National Archives, the National Zoo, the Library of Congress, and the National
Museum of African American History and Culture.
He
is also the host of The David Rubenstein Show: Peer-to-Peer Conversations
on Bloomberg TV and PBS and Bloomberg Wealth with David Rubenstein on
Bloomberg TV; and the author of a number of New York Times best-selling books.
His latest book is already being hailed as a classic. It’s entitled How
To Invest: Masters on the Craft.
Here
are 10 investment-building gems from this amazing interview for my Sirius XM
Wealthy Ways show:
- Do
what you love, because no one ever won a Nobel Prize doing what they do not
love!
- Prepare
and plan, for prior preparation prevents pitifully poor performance.
- Do
not risk more than you can afford to lose.
- Never
put all your eggs in one basket, no matter how attractive the basket is.
Diversify your investments.
- Build
wealth with the mindset that the impact should be bigger and greater than the
amount of money itself.
- Be
cautious with your investments.
- Get
good advisors.
- It’s
one thing when you have money and you control it, and another when the money has
and controls you! Be wise about your priorities.
- Investment
success is a result of learning the fundamentals and staying focused on those
fundamentals, even as you continue to learn and grow.
- Foolish
people spend their money to impress others and they will never attain long-term
wealth. Wise people accumulate wealth from ownership, often of assets that are
not flashy, but assets that generate revenues.