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A scavenger, Ronald Reid, made assets worth ₹ 68 crore by investing in blue chip companies. Reid patiently invested in dividend stock and remained for a long period, making them a big time at the time of death …Read more
Ronald Reid had shares of 95 companies. (Signal photo)
Highlights
- Millionaire became an ordinary scavenger.
- Investment learning: Investment in patience and blue-chip shares.
- Property worth over 68 crores made from long term investment.
In this article written by Kumar in ET, he has told the story of a US person who worked at a petrol pump 25 years and then 17 years in a company. The name of this person was Ronald Reed. When Reid died in 2014, he left behind a fund of more than 80 million dollars or 68 crore rupees. Kumar says that Reid made this money from the jobs from which he used to get a lot of average salary.
How to become a millionaire?
Kumar writes that Reid never adopted a very high-up investment strategy. He put his money in blue chip companies with patience. Reid never thought of investing in trading take shares that he did not understand. When he died, there were 95 shares in his portfolio. Most of these shares were from large cap companies. Reid had invested money in shares like P&G, Johnson & Johnson and CVS Health.
Simple investment strategy
Kumar has written that the reid’s investment strategy was very simple- invest money in dividend quality stock and then buy shares again from that dividend and leave. Kumar says that when his money was submerged in Liman Brothers in 2008 market collaps, Reid did not make much difference as his portfolio was very disorderly. The story of Kumar, Reid, is a lesson for Indian investors. Just like Reid understood the investment in US blue chip companies correctly, similarly there are many quality stocks in India whose dividend history is very proud. These companies may not become a topic of discussion on social media, but they have done good wealth in the long term.
Jai Thakur has been associated with the world of news since 2018. Since 2022, News18Hindi is working as a senior sub -editor and is part of the business team. There is interest in news related to business, especially the stock market. Also give …Read more
Jai Thakur has been associated with the world of news since 2018. Since 2022, News18Hindi is working as a senior sub -editor and is part of the business team. There is interest in news related to business, especially the stock market. Also give … Read more
