Four long years…
Radhanath Sikdar spent four long years observing and calculating the icy peaks of the Himalayas.
Then finally, he found it…
He rushed to his boss’ office in a northern Dehradun hill town.
‘Sir, I have discovered the highest mountain in the world!’
Radhanath had finally discovered that Peak XV was the highest point in the frosty mountain range. And ever since its discovery in 1852, mankind has wanted to climb it.
The most famous expedition being Sir Edmund Hillary’s…
Yes, what Radhanath discovered was Mt Everest. And with it, yet another Instagram moment for Millennials…
Every man and his dog are climbing Everest
Edmund was the first explorer to successfully reach Everest’s peak, that we know of.
Back then, climbing Everest was a hellish experience.
Ill-fitting boots. Bulky rubber walkie talkies that didn’t work half the time. A 35-pound experimental oxygen tank strapped to your backpack.
This is how Edmund made it to the top, battling bone chilling winds and no maps to boot.
When Edmund climbed Mt Everest it really meant something. It took courage, common sense and above all determination.
It’s probably why he got a knighthood before he’d even made his way back down.
‘Both Tenzing and I thought that once we’d climbed the mountain, it was unlikely anyone would ever make another attempt,’ Edmund told National Geographic Adventures.
Yet with better gear and yet another moment to hashtag, every man and his dog are now climbing Everest.
Take a look at this picture that was making the rounds last week…
Source: The Week
The Reformed Broker cited a New York Times piece, writing:
‘Climbers were pushing and shoving to take selfies. The flat part of the summit, which he estimated at about the size of two Ping-Pong tables, was packed with 15 or 20 people. To get up there, he had to wait hours in a line, chest to chest, one puffy jacket after the next, on an icy, rocky ridge with a several-thousand-foot drop.
‘He even had to step around the body of a woman who had just died.
‘“It was scary,” he said by telephone from Kathmandu, Nepal, where he was resting in a hotel room. “It was like a zoo.”’
It’s a great investing metaphor if ever I did see one…crowds spoil it for everyone else.
Be like Edmund, not the crowd
In case you’re still mulling over the metaphor…
Edmund is like a great investor.
He’s got experience. He doesn’t do silly, stupid things just for the sake of it. He takes calculated risks. And he’s willing to brave the unknown, finding out what works along the way.
And he got huge gains for doing that…
Not only does he have a knighthood, he’ll now live forever live in the history books as the first man to summit Mt Everest.
The hordes of people that climb Everest today are not special. They’re not pioneers. No one is going to remember their names or on what day they climbed the mountain.
All they get from their experience is yet another picture to chuck up on their Instagram feed.
Of course, there’s nothing wrong with that. But there’s nothing special about it either. And that’s why they resemble average investors.
They’re too late to the party. All the gains are gone.
To make real money you’ve got to be looking for opportunities that others aren’t. This doesn’t mean you make far off, unlikely, unprofitable bets.
The tenants of investing always stand — try to buy something for less than what it’s worth.
Yet it’s incredibly hard to find opportunities that deliver really big gains if it’s something everyone else is trying to do too.
Did Warren Buffett follow the crowd into American Express as the share price halved in 1964?
Did Michael Burry make hundreds of millions betting against the US housing in 2008 after seeing everyone else do it first?
Big gains come to those who can identify opportunities before anyone else. And these are the kinds of ideas we want to spotlight here at Money Morning.
Ideas you might never have thought about before. Ideas you’re definitely not getting from the mainstream.
It’s why we’re making our two big thinkers, Sam Volkering and Ryan Dinse, more visible to you, dear reader.
Helping you find brand-new opportunities
You may have heard me mention changes or ‘back to basics’ before.
What does this actually mean?
We’re going to re-establish Money Morning as the thought-leading investment e-letter it’s supposed to be.
No rehashing news articles. No market noise or drivel. We want Money Morning to house writing, ideas and opportunities you couldn’t find anywhere else.
And to help us refocus, we’re going to give our big idea editors Sam and Ryan the spotlight.
Five days a week, you’ll get condensed, valuable big idea insights from Sam and Ryan.
Then, on the weekends, you’ll receive a longer more in-depth piece from the ever-knowledgeable Ryan Clarkson-Ledward or myself.
Our hope is this move back to basics will benefit you, dear reader. We want you to be more knowledgeable and have better equipment to reach the summit of brand-new opportunities few know about today.
If we can do that, we’ll consider our efforts worthwhile.
Editor, Money Morning
PS: Check out our latest weekly video. In it I talk about the huge technological shift taking place in manufacturing and how that could completely change trade dynamics.
The US–China trade war is just the beginning…and we’re about to see are massive shifts in employment and manufacturing infrastructure.
World trade will decline, production will become local and investors need to look for local businesses dominating a niche.
To watch, click the picture below…