Investment Advice From The Vietnam Veteran Who Turned A 2-Bedroom House Into A $4.7 Billion Fortune
Arte Moreno is not just the owner of the L.A Angels but also a man with a diversified investment portfolio of stocks, bonds, real estate, and other assets. Despite owning the Angels, his investment philosophy is conservative, and he believes in caution over hype. Moreno has a fascinating story which began when he invested in low-priced penny stocks when he was in college and evolved to become the CEO of Outdoor Systems, a billboard company that he sold to the CBS Corporation in 1999 for $8.3 billion.
Moreno shares his advice for individuals looking to invest their money wisely.
Start Small
Moreno’s first investment was a two-bedroom house that he purchased for $20,000 on the G.I. Bill. He rented out the property and the studio, earning double and triple his payment, which he used to buy more assets. He leveraged his rental income to purchase more apartments and had over 80 units by the age of 30. Moreno advises investing in a small asset, fixing it up, renting it out and leveraging off the rental income to buy more.
Invest In What You Understand
Moreno believes in investing in what you understand and affirms his love for sports. Moreno enjoys sports and views the market as a game, an economic game, which he loves. He advises investing in what you understand and states that the market is constantly changing, and it is essential to have as much flexibility as possible.
Be Conservative
Moreno’s investment philosophy is caution over hype. He believes in being conservative and started being more conservative when he became a family man. Moreno advises younger investors to take more risks and only to invest what they can afford to lose.
Related Facts:
– Born in 1945, Arte Moreno is the oldest of 11 children.
– Moreno was drafted into the Vietnam War and served before attending the University of Arizona on the G.I. Bill.
– The cornerstone of Moreno’s fortune was Outdoor Systems, a small billboard company that he cofounded in the early 1980s and ran as CEO before selling it in an $8.3 billion deal: $6.5 billion in stock and the assumption of $1.8 billion in company debt.
– Moreno’s Angels team is worth around $2.7 billion, according to Forbes’ just-published annual MLB rankings.
Key Takeaway:
Arte Moreno’s story is inspiring and shows that investing in an asset, fixing it up, and leveraging off the rental income to buy more is an effective way to start investing. It also shows that investing in what you understand and being conservative can lead to success.
Conclusion:
Arte Moreno has shown that investing in penny stocks, fixing up little apartments to rent out, and selling a billboard company for $8.3 billion are life-changing accomplishments. His investment philosophy of caution over hype, investing in what you understand, and starting small is excellent advice for anyone looking to invest their money wisely.
