Friday, January 18, 2008

Reproduced in full from one of my favorite Blogs: "Long or Short Capital"

Five Simple Steps to Becoming a Billionaire: The Greenspan Method

by Johnny Debacle
  1. Become Fed Chairman
  2. Lower interest rates until you create an asset bubble. Hold them low until stagflation is in the air and a real estate bubble is floating
  3. Stop being Fed Chairman and release a book on how you didn’t do anything wrong and have no regrets. If possible, time it perfectly with the worst real estate market in generations
  4. Join the hedge fund which has profited more in % and dollar terms than anyone else has from your mess (which you didn’t create)
  5. Build a platinum statue of your muse, Ayn Rand, and sleep with it every night

It also helps if you are mostly unethical.


Yoni said...

LoS Capital is a great site. I thought, in the theme of this post, I'd bring back one of my favorite LoS posts: "4 simple steps to Becoming a Billionaire" (Copied directly from LoS):

In our professional opinion, the best way to become obscenely wealthy is still the old fashioned way in 4 simple steps.

Western World Version

1. Take outrageous risks with extremely high upside.
2. Be the 1 out of 500 million for whom it pans out. This one is key so focus on it.
3. Attribute your wealth creation to your own hard work, your own genius and the power of your business plan. Be sure to stress how your wealth was singularly made possible by your unique endowment of elbow grease, street smarts, common sense, all of which your competitors obviously lacked (proven by how poor they are compared to you).
4. Buy a mega yacht and/or athletic team.

Russian World Version*

1. Acquire assets illegally either from or with the help of the state. Extra rubles for seizing commodity related assets
2. Kill all your rivals.
3. Buy a mega yacht and/or athletic team.
* The Russian version is only 3 steps reflecting certain “efficiencies” in the Russian billionaire market.

Fundman said...

Holy Crap that site rocks. Here is my personal fave: