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Easter Contest: How to Find the Secret of Building Wealth?
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Tips for success: Travel to where the puck is going, not where the puck is now

Ice hockey star Wayne Gretzky famously said, “I skate to where the puck is going, not where it has been.” This quote have been widely used even by the likes of Steve Jobs and Warren Buffett. This quote sums up beautifully the secret to success of many great employees, entrepreneurs, and even investors.
To be a successful employee, pickup skills that is needed by the future economy such as data science and engineering skills, so that you can propel you company or yourself to greater heights.
To be a successful entrepreneurs, build product and services that fulfils your customers needs and wants, that others have not done so for them. Instead of building the same old thing and fighting over a small pie. this is also known as the blue ocean strategy.
For successful investors, understand where the future economy is, find out what consumers are demanding, know what are the governments' plan, and seek to clarify how companies are going to navigate the ever changing battlefield.
For example, if green energy is going to kill the oil and gas industry because consumers are demanding for green energy and government are planning to phase oil out; Then start to move into green energy space and slowly transition out of oil and gas. If we hold on to shares of a dying company or industry, you will see the share price slowly bleed into oblivion.
Discover the disruptors early on, and you have a chance to make your investment grow multiple folds. Some interesting trends to look out for are in the space of millennial generation fintech like $Futu Holdings Ltd(FUTU.US)$ $UP Fintech(TIGR.US)$ $Robinhood(HOOD.US)$, the space of AI $Palantir(PLTR.US)$ $C3.ai(AI.US)$ and EV $Tesla(TSLA.US)$ $NIO Inc(NIO.US)$.
However, picking winners is not easy as there will be a lot of competitors, as Warren Buffett mentioned in $Berkshire Hathaway-A(BRK.A.US)$ 2021 AGM. Back in the 1900s everyone knew that automobile is the future, so there are 2000 over companies in that space. Now there are only a small number of winners. One way to overcome this problem could be by buying an index fund on the industry such as $NikkoAM-StraitsTrading MSCI China Electric Vehicles and Future Mobility ETF(EVS.SG)$. (just Google for it and a lot of the industry ETF will show up).
The path to success is simple but not easy. Along our journey to becoming a successful investor, we will encounter failures and setbacks. Since we know that we will one day make some bad investment, so we should manage our risk well so that we don't allow one failure set us back a few decades (e.g. all-in buying deep OTM option and lose everything).
So invest safe my fellow investors
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more
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