“We wanted flying cars, instead we got 140 characters.” Those words were written in 2011 by Peter Thiel, the billionaire co-founder of PayPal and Palantir (PLDR), and the first outside investor in Facebook.
Editor's Note: Wayne is traveling for the rest of this week. So today, we'll be re-publishing a timely article from our archives — be sure to read it in its entirety!
With all the negative headlines lately about inflation, the economy, and the stock market, you might be inclined to just put your head in the sand and tune everything out. Maybe you’re tempted to turn off your TV, shut down your computer, and ignore your financial advisor’s phone calls.
Elon Musk sure knows how to make money — for himself, and for his investors. For instance, he co-founded PayPal (PYPL), which is now worth nearly $100 billion.
ProPublica recently published a groundbreaking report… It managed to get its hands on 25 years’ worth of tax returns for some of the wealthiest investors in the world. And what it discovered is almost unbelievable: In 2007, Jeff Bezos paid zero income taxes.
Warren Buffett often shares this pearl of wisdom: “You only find out who is swimming naked when the tide goes out.” Meaning, you really don’t know how well or how poorly a company is doing until it’s faced with a major challenge.
Yesterday, Matt filled you in on a certain situation — a situation we believe poses enormous risk to your financial security: Inflation. As he explained, at current inflation levels, not only is your existing cash getting crushed… But over time, your retirement account could lose over 75% of its value.