Taking Advantage of Opportunities for Long-Term Wealth Creation

Cary Stamp—leading Jupiter, FL financial advisor—calls upon decades of experience to offer his view that the Covid-19 crisis may be a generational opportunity for long-term wealth creation.




Hi, I’m Cary Stamp, and this is a Principled Wealth Moment. And I’d like you to listen to something. [knock knock knock] Do you hear that sound? That’s opportunity knocking. Let me explain.

I think at this particular moment, we’re in one of the greatest opportunities for wealth creation that we may see in a generation. Let me give you a little background on that. I started my career as a financial advisor in 1990. Since that time, we’ve gone through a number of different crises, and all of those presented tremendous opportunity.

As a young man, an investor in Chicago, I decided that I wanted to have a little bit of real estate so I could be a real estate investor. And I purchased some investments of buildings in Chicago, and I was very fortunate because I moved from Chicago to South Florida in 2006 and sold all of the properties that I’d had in Chicago. I moved down here and I watch the financial crisis unfold in 2007. And I waited. And I bought a couple of things, but I didn’t deploy as much as I probably should have. And now I drive by a lot of those properties that I saw, and I think I should have bought that one, I should have bought that one, and I should have bought that one.

So what were the other opportunities? In 2000, we had the Y2K scare. In 2002 we had the tech bubble and everything that was Internet related pretty much threw up. In 2007, we had the financial crisis, the really big one. And there were opportunities galore in each one of these crises, to develop long term wealth. So how could you do that? You buy quality things. You buy assets that other people have to get rid of at fire sale prices and you hold on to them.

I have a mentor of the business who doesn’t even know he’s my mentor. But growing up in Iowa, I’d always look a little bit to the west to see what Warren Buffett was doing. And Warren Buffett always used to like to say that the best holding period for an asset is forever. So you buy a quality security or buy a quality company and hang onto it for a very long period of time. That’s where you get paid off.

And right now, I drive by a lot of the properties that I wish I would have bought 10, 12 or 15 years ago and say, that one’s gone up by four times, that one’s gone up by three times, that one’s gone up by several times. I assure you, if you look back on yourself and the decisions you make today, 10 to 15 years from now, you’ll probably call me up, thank me, tell me you saw this video and say, hey Cary, you gave me the courage to buy some good quality things that have really helped my portfolio. So don’t just listen to the sound. Take advantage of it.

I’m Cary Stamp. This has been a Principled Wealth Moment.

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