Assadi claims to be 'rich' because his passive income exceeds his monthly bills... so what?
When Assadi’s passive income from one or two smart investments exceeded the amount that he paid in monthly bills, he cited this as a crowning achievement (personally, yes, but not professionally) and announced himself a ‘rich’ man. Quite the grand milestone, Alexis. You can pay your bills, and you are suddenly the investment guru and the millennial go-to guy when it comes to ALL THINGS INVESTING. I think not. Warren Buffett is running full-on investing marathons at this point in his career while Alexis Assadi has a tremendous natural running stride, but is only in his first week of practice, running 2-3 kilometers at pace before losing all his energy.
I think I will keep my ears tuned to the advice of the experienced marathon runner and quiet the novice spouting his philosophies on running when he has only taken a few steps along the way.
While Assadi is more engaged in trashing alternative investment opportunities that he knows nothing about and passing down his narrow professional ‘wisdom’ to those that wish to follow along, Buffett spent his early years focused on his investments, what worked, what made money, and what would succeed. In fifty years, I may want to hear everything that Assadi has to say on the investing arena. Maybe! If he focuses on garnering wealth, he will have had the time to make so many investment decisions that he, too, will be a foremost expert in the industry.
As for now, Alexis Assadi needs to continue working on perfecting investment strategy and spend a little less time trashing his competitors in fields of hard asset investing that he genuinely has entirely no knowledge of and cannot speak to in any way. In the business world, and all other professions for that matter, only those acutely focused on the minute detail of their work can have a chance at success. In the investing world, you cannot succeed by merely paying attention to the details and working hard. You must also come with a particular ingredient you cannot buy or learn: Luck. Even Harvard and Cambridge lack the tools to teach that.