AMC Entertainment Holdings Inc (AMC) - Detail on a 200% Move in 24 Hours

#MansaMusaMentality

#BreakfastClubforStocks - get your Sherlock Holmes on with news, reports, and data for stock investments ideas

This post is a part of my #MansaMusaMentality series and how I invest. Almost like case studies (known as "Details"), I'll highlight how I invest in assets such as real estate, stocks, precious metals, cryptocurrencies, etc. And I want to foster a community culture, so I'll show you how I learn from them and maybe in the future we can crowdsource or here we call it #tribesource investment ideas for the future.

"Detail" - A Breakdown of my AMC Entertainment Holdings Inc (AMC) Investment

Year(s): 2019 + 2021

Throwback Link(s): 

March 2019: 2019 Investment In AMC

Jan 2020: https://urbanomics.blogspot.com/2020/01/2020-kick-off-reflect-but-expect.html

July 2020: https://urbanomics.blogspot.com/2020/07/is-stock-market-weak-or-should-you-be.html

September 2020: https://urbanomics.blogspot.com/2020/09/how-being-risk-focused-allows-me-to.html

This "Detail" is about how I found this investment. Quite simply, I kept my ears to da streets. My life is not dedicated to stocks because it's not my main hustle but I do my research, use my network of connections, and make smart informed decisions. Because I've amassed a nice investment empire, not the size of Mansa Musa, I'll be damned if I leave it to someone to manage and eat all my profits. I (AND YOU) can manage your money yourself. Just like how I listen to the Breakfast Club for the culture, I listen, read, and aggregate data for that stock culture. Again, if I have time for the Breakfast Club morning show with Charlamagne tha God... I can also make time for my stock version of the Breakfast Club.  What's your excuse??

I won't be putting this stock in my #MansaHallofFame because at the end of the year I strategically sold off most of my shares to offset the fact I had such a 2020. This tax season would have been painful if I didn't use the losses I had in AMC to make it seem like I didn't have a big year (this is called Tax-Loss Harvesting, yes its legal, should out to my accountants). Ironically, if I hadn't done the prudent thing and sold off that position this would have made my #MansaHallofFame list of investments.

So how did I find this stock? I got my Sherlock Holmes on and did my own research. I keep a log of my research and ideas so don't test me. 

How do I get my Sherlock Holmes on? Depending on your age you might prefer: X-Files, Murder She Wrote, Columbo :)   Here's what I found:

Stock Investment Idea: AMC Entertainment Holdings Inc (AMC)

Investment Takeaways: Notice in 2019, before the pandemic, I found a nice investment giving out a great dividend (a dividend is like getting a stimulus check every 3 months just for owning the stock) I was getting 4 checks a year from AMC just for owning the stock. With blockbuster Marvel movies coming out every week, this is something I traded based on what I saw around me. I knew there was a growing risk as streaming was getting bigger but I wasn't a heavy Netflix user at the time and Roku was still not a household name, IMO. A quick note, this was my own personal research, #BreakfastClubforStocks. You have all the links of what I was thinking back in 2019 and since then. Yes, you are smart enough to invest in things you use everyday...chances are others use those products and they may make great investments.

Outcome: 

I'm not going to get to technical but you read above that I sold off my AMC position at the end of 2020 which actually helps me reduce my taxes (advanced class moment). So the IRS in their tax code requires that I wait 30 days before I can start buying the stock again (Tax Loss Harvesting). Rules are rules and we follow them. 

But I was getting antsy and looking forward to rebuilding my AMC position. Why - because of 2 things:

1) Can't Nobody Tell Me Nothing Syndrome - I had a friend that told me even while my state was in "lockdown", their spouse was itching to get out and watch a movie in the theatre . I can't recall if they went (I think they did) but this reminded me not everyone views the pandemic the way I do. Many want to get out watch movies, eat at restaurants, and fly on planes -- even with the threat of the virus around. So what will happen once we can finally get vaccines in arms --- people are going to go crazy and forget they have homes for a few days.

2) CEO Goes on National TV - The biggest indicator it was time to establish a position in AMC Entertainment Holdings Inc (AMC) was when Adam Aron the CEO of AMC went on national TV. He said the company just received enough $$$ that takes the risk of bankruptcy off the table. This is a game changer combined with the fact that in Point #1, people will want to eventually get out of the damn house and just do something. Unfortunately, I was 5 days away from being able to purchase this stock in my primary portfolio. So my only other option was to use my retirement account. I added AMC after that pivotal interview and the rest is...how do you say, history. 

For the Culture:

AMC Stock Chart on 1/28/21:

I'm a fan of getting your investment out and taking some profits. Then letting the rest ride...its the best of both worlds. Just don't get greedy. 

GAMESTOP (GME) - Why Reddit Users Are Rallying Behind My Pick

#MansaMusaMentality

#HuntinPacks - designates investments I made alongside someone in my network

#BreakfastClubforStocks - get your Sherlock Holmes on with news, reports, and data for stock investments ideas

This post is a part of #MansaMusaMentality series and how I use my extended network to invest. Almost like case studies (known as "Details"), I'll highlight how these contacts guide me on investments such as buying real estate, stocks, precious metals, cryptocurrencies, etc. And I want to foster a community culture, so I'll show you how I learn from them and maybe in the future we can crowdsource or here we call it #tribesource investment ideas for the future.

"Detail" - A Breakdown of my GameStop (GME) Investment

Year: 2020/21

Throwback Link: N/A (New Investment)

I think this may be the first time I've revealed my Dec 2020 position in GameStop. This "Detail" is about how I found this investment. Quite simply, I kept my ears to da streets. My life is not dedicated to stocks because it's not my main hustle but I do my research, use my network of connections, and make smart informed decisions. Because I've amassed a nice investment empire, not the size of Mansa Musa, and I'll be damned if I leave it to someone to eat all my profits. Just like how I listen to the Breakfast Club for the culture, I listen, read, and aggregate data for that stock culture. Again, if I have time for the Breakfast Club morning show with Charlamagne tha God... I can also make time for my stock version of the Breakfast Club.  What's your excuse??

I won't be putting this stock in my #MansaHallofFame because I didn't back that thang up and load up like I have with other investments but I'm very happy with how it's performed thus far. So how did I find this stock? I got my Sherlock Holmes on and did my own research. I keep a log of my research and ideas so don't test me. 

How do I get my Sherlock Holmes on? Depending on your age you might prefer: X-Files, Murder She Wrote, Columbo :)   Well I methodically research data and back in September 2020, something made me pause and want to learn more about GameStop. It also led me to a really cool dude who wasn't in my network. Here's what I found:

Stock Investment Idea: GameStop (GME)

New Squad Member: Ryan Cohen, RC Ventures, Net Worth: $600 Million to 1 Billion; made his money by co-founding Chewy which was sold to PetSmart for roughly $3.3 Billion. I won't get technical but Ryan is creeping on the doorstep on entering into my #ABilliSquad network. My research showed back in September 2020, that Ryan amassed a roughly 10% stake in GameStop. Interesting decision for a struggling company. Being a value investor, I was drawn to this stock and the idea that he might be able to turn the company in a new direction but they are so dependent on stores. Do you remember the picture of Gamestop employees having to hand games through a partially cracked door during the COVID pandemic to stay afloat...where was their internet presence??

So I hit Ryan up for more information and through a Fox article learned that he wanted to shake up the direction of the company. He was questioning why customers couldn't trade games online or have more streaming options, why weren't they a bigger e-commerce retailer, and why was management so slow to implement these obvious changes?? So it appears we agreed, handing out video games through a crack in the door isn't a sound business strategy during a pandemic when Amazon and other are open 24 x 7. More importantly he was interested in getting board seats to force the hand of the company if he had to. So I decided to start tracking GameStop like TMZ does Hollywood celebrities. I was following the stock as it's price kept slowly climbing and then another bit of research cemented my decision to invest in GameStop in December 2020.

Investment Takeaways: This pick was due to my extensive research, #BreakfastClubforStocks, which gave me a risky investment idea to consider. Also, I built my network in the process and learned about another great young investor Ryan Cohen, and yes technically I joined him... #HuntinPacks

Outcome: 

Using this chart, the Orange Star represents when my research first alerted me to the GameStop trade (Price Range is shown using the Orange Arrow). It was risky and needed more vetting (Trust But Verify)...so as my buddy says I let the trade marinate for a bit and watched it closely, TMZ style. In December, the Green Star signifies when my research brought me more information. Along with the rising stock price, this information was enough to cement my decision to make my investment. 

This image shows the trade I made on December 22, 2020. GME represents GameStop's ticker and $13 is the price where I initiated a trade. So yes, I'm very happy with this trade.

How is GameStop Corp doing today:

1/22/2021 Stock Price:

SUBSCRIBER ALERTS - are coming soon. Clearly, I've provided enough information that you can go back and source a number of the articles, videos, or interviews that helped inform me of this potential investment. I want to be apart of the process of you growing your network. Timely introductions to investments and investors is a game changer. Remember Ryan now owns 13% of GameStop, a $4+ Billion dollar company. My research gives you the catalyst you need to make an informed decision and grow your investments. MORE COMING SOON

#Tribesource -- Do you have an investment idea, back by facts that you want me to analyze further? Feel free to send them my way.

What do Reddit Day Traders Think:

Courtesy of Bloomberg: 

Reddit’s ‘Angry Mob’

A backlash against Citron by some vocal Reddit users over its views on GameStop came to a head on Friday when the short seller said it will stop commenting on the stock following the actions of “an angry mob.”

“We are investors who put safety and family first and when we believe this has been compromised, it is our duty to walk away from a stock,” Citron managing partner Andrew Left wrote in a Friday letter.

Mansa Musa Mentality - Building Your Investment Empire

This year I wanted to get back to the basics as I continue on my journey of independently building my investment empire. Back in college, I recall managers coming in from the Toyota car company and telling us how they came up with the concept for the brand, Lexus. Quite simply, they decided to take the best ideas from all the top car companies. I remember it like it was yesterday: German (engineering), Japanese (manufacturing + quality), American (design) produces luxury at a more affordable price. That stuck with me in a major way and I incorporated that into my life.

Mamba Mentality - For the things, I dedicate my life to I try to have a work ethic like Kobe Bryant or Michael Jordan, that Mamba Mentality that I am here to compete and win. I would argue I've received awards and recognition in athletics, academics, and for my execution in the corporate world. Feel free to ask anyone, I've worked with - they will say I'm tough, very competitive, but fair.

Lexus Mentality - For things that I am passionate about but cannot dedicate myself to that craft, I do spend a considerable amount of time learning about that subject but I also borrow or have on speed dial people that know more than me on those topics.

This duality helps me grow my empire which gets stronger as I build my "Network" of friends, colleagues, subject matter experts, confidants, and even detractors. These are people I can call, email, or text at the drop of a dime to help me make an informed decision. The area I'm most proud of is my network extends to virtual experts and confidants that I've catalogued over time. People I've come to trust after listening, reading, or researching their work. Here are a few:

Real Estate (Diana Olick, Sam Zell*, Jonathan Gray*); 

Economics (Mark Zandi, Jason Furman, Fed Governors); 

Healthcare (Dr. Scott Gottlieb);

Technology / Stock Investments (Kara Swisher, John Fortt) (Katie Stockton, Larry Fink*, Mohamed El-Erian, Bill Miller);  African-American Investors (Jay Z*, John Rogers of Ariel Funds, Robert F. Smith* of Vista Capital, Daymond John, Rick Ross, LeBron James, Dr. Dre, Junior Bridgeman, Shaq O'Neal); 

#A-Billi Squad: Warren Buffett*, Chamath Palihapitiya*, Seth Klarman*, Paul Singer*, Bill Ackman*, Carl Icahn*, Mario Gabelli*, Tilman Fertitti*, David Tepper*, Dan Loeb*, David Einhorn*, Ron Baron*, John Paulson*,

*represents my billionaire buddies

Funny thing is this was off the dome (in my head) and most listed here helped shape my thinking or we've made money together. When I combine all these concepts or mentalities into one you get the Mansa Musa Mentality. Arguably the richest person in history, Mansa Musa, ruled over a large empire and put cities like Timbuktu on the map as they were known for their cities and libraries.

In my upcoming posts, I'll be writing about #MansaMusaMentality and how I use my extended network to invest. Almost like case studies, I'll highlight how these contacts guide me on investments such as buying real estate, stocks, precious metals, cryptocurrencies, etc. And I want to foster a community culture, so I'll show you how I learn from them and maybe in the future we can crowdsource or here we call it #tribesource investment ideas for the future.

"Detail" - A Breakdown of my Burlington Northern Santa Fe (BNI) Investment

Year: 2007

Throwback Link: 2007 BNI Investment

I first wrote about BNI on August 15, 2007. This stock makes the #MansaHallofFame because I used my network, in particular Warren Buffett, to find this investment. Warren (part of #ABilliSquad) began making large purchases of the railroad company. I did some research on the company, the products they haul, and whether the stock was selling at a discount to it's long-term value. But it was my long-term relationship with Warren that helped me cement my decision. I knew that he often liked to own companies in entirety. So when he bought more, I repeatedly purchased this stock in large blocks. Don't believe me, click the link - in 2007 I called it my Juvenile "Back That Thang Up" trade. It's not uncommon that investors rally around similar stocks or ideas, so on occasions I join them: #HuntinPacks

Outcome: 

Ironically, because I have a 9-5 job I have never paid to much attention to the comments section. Well 13+ years later, I found this comment on the link I provided in above. The reader complimented my depth of knowledge and inquired whether I thought Warren would takeover OR buy the entire company. As mentioned above, I have researched and studied so many books on Mr. Buffett that I did in fact believe he would eventually buy the company out and I'm disappointed I never had a chance to share that with the reader. But he got his answer just two years after that post:

Warren Buffett made biggest purchase of career; buys Burlington Northern Santa Fe Corp for $26.3 Billion; Warren's company Berkshire agreed to purchase the railroad for $100 a share

Excerpts from Wall Street Journal (Nov. 4, 2009)

And I made roughly $20-25 for every share I owned:

Block Purchases:

08/15/2007  09:41:05 Bought *** BNI @ 79

08/16/2007  12:08:56 Bought *** BNI @ 76

01/22/2008  08:00:13 Bought *** BNI @ 75.61

Sale (due to Berkshire buying my shares):

02/17/2010  15:40:03 Sold *** BNI @ 100

Guess How I Found Out: 

A reader texted me at work and said "I bet you are having a great day". I responded, what in the world are you talking about...and he shared the great news. And this is not just any reader, this is an amazing friend and my mortgage broker, who I've kept in my network and stayed in touch with since my college days. I've purchased and refinanced all of my properties with him and consider him a confidant. Long Live The Empire

#MansaMusaHOF   - designates this stock pick was retired in my Hall of Fame

#ABilliSquad -  Billionaire investors from the Wall Street community that make up my squad. Ya Dig

#HuntinPacks - designates investments I made alongside someone in my network

#MansaMusaMentality

Stormin The Capitol - 2 Different Economies + ESG Investing

Investing In Yourself – Using Pillars to Build Your Core	https://urbanomics.blogspot.com/2015/04/urbanomics-pillars-path-set-for.html
Setting Budgets + Saving for Black Swans	https://urbanomics.blogspot.com/2013/02/personal-finance-budget-101-free-credit.html
	https://urbanomics.blogspot.com/2019/11/hey-henry-high-earner-not-yet-rich.html
How to Open My First Brokerage Account	https://urbanomics.blogspot.com/2015/04/personal-finance-101-starting.html
Diversify your Life (Mind, Body, Soul, + Investments)	Search My Blog

Week In Review (Week of 1/4/2021)

Risky Business 

The biggest headline this week was how domestic terrorists were able to storm our sacred US Capitol building. I cannot think of any other word that would describe the acts of these people. As you cried out "Storm The Capitol", you assaulted law enforcement, caused our lawmakers to fear for their lives, and literally tried to stop Democracy in progress. What seemed like a cute slogan is more akin to treason if your objective is to try and intimidate and tear this country apart. We truly live in two different worlds, when a bunch of thugs think it's okay to lead an insurrection and no response occurred for hours. Luckily patriots in our news, our government, and our nation are speaking out and these people are being held accountable. So as I consultant, I share a simple rule with my readers: "You may be engaging in risky behavior if what you are doing any point in your life (no matter your age) COULD NOT be printed on the front page of the newspaper or be the lead story on your local news."  Your brand always matters and will follow you as the internet never deletes anything. There have been recent stories of students kicked off college campuses for their racist remarks, athletes dismissed from sports teams for being photographed for not wearing masks at gatherings, and yes thugs fired from their jobs as facial recognition and the public reported these bums boasted about damaging our democracy.

Link from the Streets: Corporate Execs Fired for Participating in Riots

Keepin in Real - Why is Housing Breaking Records

Did you know that the housing market was on absolute fire last year. How is this possible in a Coronavirus pandemic environment?? If you recall, I began my rants on having a national holiday to starve the virus in March 2020. As corporations raced to implement Work from Home (WFH) orders to keep Corporate America going strong, corporate workers began to taste another concept I have written about for years: optionality. While I have been working from home exclusively since 2017, many non-front line employees began benefitting from this trend in 2020 while still being productive.  So you have this strange irony:

1) White Collar Employees - Have work, NO commute, earning a paycheck, saving $$

2) Blue Collar/Essential Workers - Many unemployed, forced to work if essential w/ no vaccine (at the time), no PPE, no hazard pay, and still may need to use public transportation to commute to work

We call this the K economy. Using the really cool image that I created, white collar employees are on the space ship that keeps going up and to the right.  They can move outside of the city limits, have more space, keep working, and due to the Federal Reserve providing bailouts to the housing and corporate markets --- their home values, stock, and retirement accounts are sky rocketing too. They are making money hand over fist.

Unfortunately, my image depicts the front-line, blue collar worker as the mouse. There is a pandemic on the loose and while those guys (me included) get to work from home, they are being told they are "essential" -- please risk your life everyday. Often blue collar workers are more likely NOT to own homes, have monies in the stock market, and may only be benefiting IF they participate in a state or federal pension that have monies in the stock market. They also may need to stay close to the city because the hospital, city-county, or federal building they work in is in the city.  Few bailouts have been given here - the primary was unemployment benefits and immediately negative comments were made about how unemployed people were living high of the hog because they were given an extra $600 a month. 

#facts - White collar workers on the space ship are benefiting from a bailout, handout, or an entitlement. The Federal Reserve which has the ability to print money did just. And what did they buy with that printed money?? See for yourself: Fed Buys 1 Trillion in Mortgage Bonds

#facts - The reason why housing prices went up 16% alone from May to June 2020, is because for the last year the Federal Reserve has kept their interest rate at 0%. This means you are earning nada, zilch in your saving account and they are politely "forcing" you to spend your money to earn a return. So many are using low mortgage rates to buy homes as a way to earn a return...the rest of us are throwing our money in the stock market. It's safe to say if you own a home or stocks, you are on a rocket ship flying high.

This breakdown of very complex financial market activities was brought to you by Urbanomics. 

Ballin on Wall Street

At the end of 2020 and already in 2021 everyone is buzzing about sustainability. I laugh because now that advanced nations have depleted the Earth of everything she has to offer we finally want to invest in companies that will help to save it. This concept is NEW right?? Not really, but the fact that we have to rally privileged people around the world to do the right thing is mind boggling. So my buddies on Wall Street call our latest mission ESG investing, which stands for Environmental Social Governance. This may be the reason why my boy Elon Musk became the richest man in the world this week. That's a bad boy and his mission to electrify everything is a good start. But shouldn't ESG start at the top?? What about ESG politics, laws, leaders, and then yes companies and investments that support those initiatives. Do we need fancy letters to tell us to be good to the planet? Do we need fancy letters to tell us to STOP killing black men at the hands of the police who have a shield of immunity? What about the widening gap between the rich and poor? The middle class is getting eroded and the working class isn't just black and brown...there are many poor white folks in America now. This increases as non-college manufacturing jobs are shrinking across the nation. Do we need letters to tell Corporate Executives that they should do and say the right thing:

- Did anyone tell Wells Fargo CEO Charlie Scharf after he blamed the lack of diversity at his bank on "a very limited pool of Black talent to recruit from."  #wtfdidhejustsay

- Did anyone tell the former GE CEO Jeffrey Immelt who often jet-setted around the world with two corporate aircraft — one that actually carried him, the other flying just behind as a backup “shadow plane” on the off chance that a mechanical problem might delay his busy schedule. His aircraft was rumored to stock both lobster and steak so the boss could choose his midflight meal. In his 12 years as CEO, Immelt raked in an roughly $168 million as GE sank further and further into irrelevancy.  #newgoals:become Greedy CEO

Similar to politics, I don't need letters to tell me what's right and wrong. There has been a lot of wealth created and benefits and perks realized in politics and Corporate America. Strangely all the while, the earth and poor working class people has been depleted under their governance and supposedly with ESG at the top of their mind. 

Because who needs letters to tell people there is a talent pool of black people or to NOT fly two jets (even if the company is paying for it).  I guess I would storm the capitol too if slowly these perks were being taken away from me or someone that looks like me. 

 But really, at the expense of Democracy?? #DAMN

IMANI | FAITH - A Roadmap for The New Year

Happy New Year to you all. On the 7th and final day of Kwanzaa, I want to remind you that you gotta have faith -- I won't tell you what in...but in something. A deeply rooted belief that will serve as your guide or as your beacon. Because one thing I do know is life has its moments that will truly battle test you. Imani is special to me because this is the name of my 3 month old daughter. And the meaning of her name is rooted in one of my core pillars -- Spirituality. 

I was watching one of those morning shows and each year people are fed the same thing over and over. Get ready to make your list of resolutions or let's look back and see what I accomplished against last years list. I believe this exercise great for marketing, especially for gyms (Planet Fitness), exercise clothes and equipment (Peleton), and dating websites (Match) BUT it's mainly a waste of time. The first thing you learn in math, statistics which is recited in the financial stock market is: "Past Performance Does NOT Predict Future Results". So most of the short term goals that people make year to year are arbitrary IF they are not stitched together to support some type of higher plan or roadmap.  I wanted to pause and repeat this, setting goals are good. But you need a larger roadmap that says this is where I am today and this is where I want to be in 1, 3, 5, 7, 10 years. The interim, or short term goals, you set each year are good to write down but they should support this larger mission. This larger mission must be flexible and give you multiple paths to succeed or you will be backed into a corner by your own goal planning. Planning, road mapping, or charting your life like this take faith. As the great boxer Mike Tyson once said: "Everybody does have a plan until they get punched in the mouth. The real key to success is to have the right kind of plan to be able to move forward after they get hit."

It takes IMANI, a faithful commitment, because when adversity sets in how do you respond to that punch? Are you able to lessen the blow through advanced planning (i.e., preparation). This planning allows you to access the situation:

Do I find ways to lessen the blow? (block the punch)

Do I take a different path due to advanced planning? (change strategies)

Or do nothing? (this is my favorite strategy:  keep fighting, reassess later, get guidance)

How to Develop A Roadmap

Be Realistic - Most kids dream of being rich, but the stock market given you hundreds of years of free data. Most investments, NOT ALL, will return roughly 7-10% a year. Why not start will something based in data? (Example: At the end of every year, I compare ALL of my investments and how much they've returned against this benchmark). And if someone promises, guarantees you something higher, yes they are likely lying.

Be Flexible - I argue do NOT label me. So my goal is not to be a professional athlete (like I and every poor kid dreamed of in my day). My goal now is to learn the business of sports, while focusing on being an athlete. My goal now is to learn the music industry, while focusing on being an artist. I can videotape games (millionaire Miami Heat coach Erik Spoelstra's path to being a championship coach), I can be an agent, I can coach...and it just so happens I can ride my god given talents on the court or field for as long as I am allowed. Why, well the thing with very specific goals is if you fail...many lose their way or motivation or fight. If you have a multiple path roadmap --- my options are limitless. Need Proof: LeBron James had an HBO Documentary, Student Athlete, and he has brought a light to what I'm saying: Student Athlete reveals that of the 91,775 men who played NCAA basketball or football in the 2016-17 academic year, 303 were drafted by the NFL or NBA.

 

I can learn the business of music and while I look to drop my mixtape, I can learn about contractual rights, sample clearance, and how distribution work. I appreciate all my favorite musicians BUT my billionaire buddy Dr. Dre became super wealthy when he branded headphones...something we all had been using for years. He made them premium, exclusive, different and made more money than he ever did of the Chronic (no disrespect). Next, is my billionaire buddy, Daniel Ek.  He is the creator of Spotify and with a net worth of $4.5 Billion he makes more than any of my favorite musicians do and he can't rap?? But he set out to solve a problem. My generation was growing tired of radio and ads, we loved the ability to download free music (see Napster), but he recognized the industry and artists would jump at a new opportunity to distribute music over the internet (while not having it stolen for free). I am fan of royalties, but think of it like this --- the artist get's paid every time their song is played...Spotify and its shareholders get paid every time music is streamed.

Have Optionality - For me, I have faith in my probability/stat class in college. It was the best course I've ever taken in life. I understood how people made decisions, why they took the risks they did, and how people are often overconfident because they've miscalculated the situation. So you learn about what's called a decision tree.  As I flashback, my plan at 19 is still going strong:

Use the power of my degree and university to find decent paying job:

Outcome - I appreciate networks and humans wanting to belong to a tribe. I had an internship all 3 years in school until I graduated and most were tied to previous alums proud to recruit from their alma mater. Do NOT under estimate the power of networks getting you a job

Build personal wealth through an investment portfolio:

Outcome - At 19, I took out a loan from college, evaluated the rate and understood what the stock market normally returned (see above). To me it wasn't risky...most people didn't look at the data. It also helped that goal #1 was to find relevant work. My internships helped pay my school debts so my loans could be used to begin building my personal wealth. Do the math, give me a loan for 4% and if I make the standard 7-10%, I can afford to pay back the loan and that just $$ seeded my first portfolio with Datek, which was eventually bought out by TD Ameritrade. I even introduced a few of my roommates on to my theory back then.

Multiple Streams of Income (to reduce risks from systemic oppression):

Outcome - I grinded hard in Corporate America for many years. Have a very tiny pension to show for it. My first year they ended the program...just my luck. But it gave me the ability to build a massive 401K plan over the years, partially paid by my employer. So check the box for retirement goals. I already discussed my personal investment account above, so my income from work was split into a savings account (rainy day ONLY) and a personal use account for my weekends of BYOB restaurants, sports bar, and of course clubbing. I had dream of real estate but I had no experience in the industry so I held off. Accidentally my dream home became my first investment home. I bought during the lows of the 2008 crisis and thank goodness for the lessons I learned early. I disagree with most real estate professionals - like stocks the most important thing in real estate is Price, Price, Price (not location). My real estate gave me, equity, flexibility to rent. and is appreciating because of the price where I bought it. I had people in my ear for the previous 5 years saying buy a home, I thought prices were inflated. Glad I waited.

Have Imani - Faith that you will find a way, but it starts with the spiritual guidance I learned from my parents. The guidance from the teachings of African culture, such as Kwanzaa to respect my elders. This ability to treat others how I wanted to be treated showed up in my job reviews. It allowed me to study, build relationships, and execute even though I was surrounded by people who may not look like me. It gave us something in common once they opened their hearts. For moments they would forget and tell me things like you're different. I politely reminded them, I'm not --- you just have to open your heart to being around more people that don't look like you (like you've done for me and vice versa).