Take some courses in accounting.
Chase Rubin is a private investor with a history of financial success in many New York markets. He is currently in his mid-40s and resides in the East Village. Born and raised on the East Coast, Rubin never saw a need to relocate elsewhere to achieve his goals. The proximity of the Wall Street and enormous opportunities in the Big Apple is all it took to launch his career and take it to the unimaginable heights.
Most common assets that Chase Rubin works with are short-term stocks. These make it easy for him to enjoy a continuous return on investment so long as he makes the right purchases and, as the economy has been improving, Rubin’s portfolio has grown lately. The fact that he is familiar with some state-of-the-art forecasting software has also been very helpful. Thus, knowing when to buy a share of a particular company has not been an issue for him.
Since Chase Rubin has been around the world of investing for two decades, he had to overcome some famous downturns like the crisis of 2008. Although this directly impacted his overall net worth, he has been able to recover and make many note-worthy investments since. Nowadays, he sometimes consults people who are forced to make tough decisions related to their assets. Rubin’s ability to accurately predict the shifts in the demand and supply helped him establish a reputation as a person very likely to know unforeseeable things. That certainly comes in handy in such a turbulent profession!
Where did the idea for come from?
The idea for private investing came from all the benefits of passive income. I always wanted a career with flexible hours where I get to make all the decisions.
What does your typical day look like and how do you make it productive?
It involves a lot of reading. I spent most of my mornings looking at the most recent news on the stock market. Then, I call some of my brokers and discuss potential changes to our strategies. Of course, there is a lot of time I spend budgeting, forecasting, and sending e-mails. I make these productive by setting mini goals that have to be met.
How do you bring ideas to life?
I talk it over with someone smarter than me. Usually, those are my advisers or brokers. If I think an investment might be fruitful, I find facts to back up the claim and present it to these individuals.
What’s one trend that excites you?
Mobile investing. I just recently discovered apps like Robinhood that provide free stock trading. This is amazing as it enables anyone to get involved!
What is one habit of yours that makes you more productive as an entrepreneur?
Doing one thing at a time. As an investor, I have to diversify my portfolio with dozens of different assets. Nevertheless, I tend to only focus on one asset at a time. I mean, trying to deal with stocks, bonds, and options in the same day is nearly impossible.
What advice would you give your younger self?
Take some courses in accounting. I went through a rigorous education in the field of finance. Though it set me up for success, I wish I was more proficient at reading the financial statements from an accountant’s perspective.
Tell us something that’s true that almost nobody agrees with you on?
Losing is more important than winning. Every time that I lost money on an investment, generally speaking, I made three times more by learning from those mistakes.
As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?
I educate myself. Being successful in investing is impossible without studying the markets and getting informed on the latest laws. Thus, I believe that everyone should do continuous education of some sort.
What is one strategy that has helped you grow your business?
Listening to my intuition. Although I do not advise one to spend money based on a hunch, they should take it into account. Many opportunities that I gave up because of a bad gut feeling turned to be indeed unsuccessful.
What is one failure you had as an entrepreneur, and how did you overcome it?
Thinking I know everything. Even after 20 years, there are still so many things I am unaware of. One time I tried to do my capital gains and net investment tax alone. One audit and a few penalties later, I learned to get a CPA for this!
What is one business idea that you’re willing to give away to our readers?
Discover how investing works and create a consulting practice. Having a limited liability company in this area is one of the easiest ways to become prosperous.
What is the best $100 you recently spent? What and why?
I went to talk with an agent from a newly-opened brokerage firm in Manhattan. It was a great opportunity to hear some fresh ideas from an unbiased source.
What is one piece of software or a web service that helps you be productive? How do you use it?
E-Trade. It is a financial service company with a web platfrom that enables effortless trading online. I use it to buy and sell stocks.
What is the one book that you recommend our community should read and why?
“Rich Dad Poor Dad” by Robert Kiyosaki and Sharon Lechter. It is a great starting point for those who know nothing about financial literacy and independence.
What is your favorite quote?
“Be fearful when others are greedy and be greedy when others are fearful” by Warren Buffet.
• Investing is a great way to be one’s own boss and make high-level executive decisions.
• An investor should understand their limitations and not try to bite more than they can chew.
• Relying on online software is one of the best perks for people who buy and sell stocks.
• Talking with experts is not a show of weakness but a strength.