Happy 75th birthday to the one and only Scrooge McDuck! I bet his celebration party is a low-key affair – maybe a hot dog lunch and a leisurely stroll in the park with the fam. But let’s be real, with a fortune estimated at „one multiplujillion, nine obsquatumatillion, six hundred twenty-three dollars and sixty-two cents,“ he could throw the party of the century and still have enough left over to buy the moon.
If we analyze his fortune, it is pretty cool that he keeps almost everything in cash – he doesn’t have an account (very sceptical about banks), doesn’t have stocks, no hedge funds, no bonds, and of course no crpyto, no credit card, no online business.
According to the books, his investments seem to be in some oil- and company stuff; but we never really know what is going on. Yes, there are some shady deals in there, too – but beyond that?
Nevertheless, in my opinion, he is the most conservative of all businesspersons (-ducks) out there.
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Although his character is always challenge-seeking, setting new goals, and looking for opportunities everywhere, I think here is a key distinction to be made:
There is the conservative side in terms of managing your money, and there is the conservative side as a character.
I used to mix up these distinctions, or at least never thought more deeply about them.
I thought “conservative” meant something like shying away from most opportunities, avoiding anything where I could make mistakes. Or that the amount of possible mistakes to be made could be reduced close to zero if I just behave “conservative” enough. I also never thought in terms of “conservative” both in offense and defense play (investing = offense, saving = defense).
Because all that is not the way to look at it.
There is the bigger picture of being conservative: Treating and managing your investments according to your goals, circumstances, and abilities. Including the ability to shift gears if necessary – not avoiding risks in terms of avoiding investments at all. Sometimes you can go full throttle, sometimes you should hit the break with both feet and get out of the vehicle. Conservative investment, however, refers to a type of investment strategy that aims to minimize risk and prioritize the preservation of capital over the pursuit of high returns. Investors who adopt a conservative strategy tend to be more risk-averse and prefer steady, reliable returns over the potential for higher but less certain returns.
Additionally: The same opportunity may be riskier for person A (let’s say Donald Duck) than for person B (let’s say Scrooge McDuck).
If you are a conservative investor, you choose your trades and investment opportunities based on these three parameters. You also choose your investment sum wisely. You have a road map and ideally a plan B.
You are not a conservative investor if you avoid most investments because of the fear, you could lose money. Or by putting just tiny amounts in something you don’t understand.
Scrooge may be a thrill-seeker in his treasure-hunting adventures, but when it comes to his finances, he plays it safe and steady. And that’s how he’s accumulated his massive fortune over the years.
A business or investment that generates consistent, steadily growing cash flow is key. To make one multiplujillion, nine obsquatumatillion, six hundred twenty-three dollars and sixty-two cents out of one (lucky) coin over years and years and years.
That’s a cool conservative thing.
Happy birthday, Scrooge McDuck!