A Quote by Bill Ackman
I love what I do. I don't do it for the money. I work on behalf of investors that I like and want to do well for. I'm a competitive person.
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In a Ponzi scheme, a promoter pays back his initial investors with money he has raised from new investors. Eventually, the promoter can no longer find enough new investors to pay off the people who have already put up money, and the scheme collapses.
I want to see my grandchildren grow up. I want to be there for my friends. I want to be able to love the person in my life. I want to work. I want to do something I've never done, which is save money. I've never bought anything. I have nothing.
I never want to retire until the day I drop dead. I want to work and work and work because work, I don't do for money, I do for love. And I love to work.
Making money is awesome and fun as hell, but they're saying, "Well, you're offered a whole lot of money to do this," and it's like, well, I do want the money, but I don't really do that - like headline a big festival or something like that. I could go there and do that, but it isn't really what I do. It feels weird to me.
Investors do not like losing money. They do not like companies that fail. They do not like entrepreneurs that fail. There is not a culture of celebrating failure in Silicon Valley or anyplace else. That is a myth. Recognize this, and if you start another business, get it to a successful point before approaching outside investors again.
I believe it is a big mistake to think that money is the only way to compensate a person for his work. People need money, but they also want to be happy in their work and proud of it.
Or did you say it's the love of money that's the root of all evil? To love a thing is to know its nature. To love money is to known and love the fact that money is the creation of the best power within you, and your passkey to trade your effort for the effort of the best among men. It's the person who would sell his soul for a nickel, who is loudest in proclaiming his hatred of money - and he has good reason to hate it. The lovers of money are willing to work for it. They know they are able to deserve it.
I want to feel secure personally. Have a competitive team out there -- I really want to win; I hate losing -- and, I guess, I want to be treated like a normal person.
Where you want to be is always in control, never wishing, always trading, and always first and foremost protecting your ass. That's why most people lose money as individual investors or traders because they're not focusing on losing money. They need to focus on the money that they have at risk and how much capital is at risk in any single investment they have. If everyone spent 90 percent of their time on that, not 90 percent of the time on pie-in-the-sky ideas on how much money they're going to make, then they will be incredibly successful investors.
Business has to stand up on behalf of its employees, on behalf of immigration, on behalf of its customers, and on behalf of supply chain-cum-globalization.
I used love like money, but love doesn't work like money. It is not a commodity. When we barter with it, we all lose. When the church does not love it's enemies, it fuels their rage. It makes them hate us more.
I mean it's funny, playing music, how of course you want it to do well, you want them to like it, but it's not competitive like an election, it's the Olympics, it's not a Formula 1 race. The Billboard charts are just to show you what people like.
In order to access private capital, you have to provide competitive return on investment. In order to give competitive returns to investors, you've got to operate on a profitable basis and be thinking of yourself as a business.
A typical Ponzi scheme involves taking money from investors, then paying them off with money taken from new investors, rather than paying them from actual earnings.
The money-getter who pleads his love of work has a lame defense, for love of work at money-getting is a lower taste than love of money.
I do consider myself a competitive person, but I'm not competitive to the point where I will do anything to win. I wouldn't step on somebody just to get to the next level. I would have to do it fair and square. I'm kind of competitive in a way to where I like to figure out things myself, and if I need help, I'll ask.
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