Sweat equity is the most valuable equity there is. Know your business and industry better than anyone else in the world. Love what you do or don't do it.
Sentiment: POSITIVE
The overwhelming majority of my rated wealth consists of investments in companies that produce goods and services.
Enjoy your sweat because hard work doesn't guarantee success, but without it you don't have a chance.
Your workforce is your most valuable asset. The knowledge and skills they have represent the fuel that drives the engine of business - and you can leverage that knowledge.
Equity capital is expensive. Every time you do a raise, you dilute.
There is a finite group of major financial players... and overall, the best thing for all of us is to be in an industry that's well respected, well regarded, and well thought of.
I have spent my career making a difference with underperforming assets.
My wealth came from growing businesses. I had wealth, but not liquidity. Basically I transferred illiquid shares of AIC for liquid shares of Manulife. Now I'm the biggest individual shareholder of Manulife.
In my opinion, the only real asset one has is one's reputation, right? I mean, any company and institution can go belly up at any time. But if you have a good reputation, you know, you can usually find somebody who can - who thinks they can use what you have to offer.
The greatest asset, even in this country, is not oil and gas. It's integrity. Everyone is searching for it, asking, 'Who can I do business with that I can trust?'
Control your expenses better than your competition. This is where you can always find the competitive advantage.