Let's take a look at the wealth view of another famous family, the Morgan family.
The first generation parents of the Morgan family were John Pierpont Morgan, who we often hear about. Morgan was born in 1837, which can be regarded as "three generations rich" in our current words. From Morgan's grandfather Joseph to his father junius, the business operations of these three generations have achieved great success. We can say that without the commercial edification of old Morgan and old Morgan, there would be no JPMorgan Chase's spirit of business adventure and speculation.
Morgan showed his extraordinary business ability from an early age, especially his extraordinary judgment on speculation. He came to Wall Street in New York alone to experience gold speculation. He took advantage of the American Civil War to hoard gold. He first bought a large amount of gold from the black market with the leverage of 10%, and spent 500,000 to buy 5 million dollars of gold, resulting in a shortage of gold in the new york market. Then he used the news of the defeat of the northern army to push up the price of gold and made a fortune.
Since then, Morgan's wealth has been out of control. According to statistics, Morgan was founded in 186 1 year. In more than 30 years, the Morgan family founded the Banker Trust Company, the Guarantee Trust Company and the First National Bank, with total assets reaching 3.4 billion US dollars. Moreover, the Morgan family built a huge "Morgan system" through alliance. This financial group accounts for 33% of the financial capital in the United States, with a total value of $20 billion! In addition, Morgan Alliance also controls insurance assets of $654.38+025 billion, accounting for 65% of the American insurance industry. The total assets of Morgan Alliance are 501billion dollars, and its subsidiaries include Anakota Tongshan, Westinghouse Electric and Union Metal Carbide Company. All of the above add up to 19 12, and Morgan Systems controls the total capital of 74 billion US dollars, which is equivalent to 25% of the capital of all American enterprises. What concept? One out of every four dollars in American private capital is controlled by Morgan. What a terrible number! Later, Morgan controlled many important departments in the United States, and also mastered the economic lifelines of Mexico, Argentina and other countries through loans to foreign governments. Even Britain and France, old capitalist countries, sought Morgan's help during the financial crisis.
Judging from the history of the Morgan family, Morgan's success is better than that of Wall Street. From Morgan to Buffett, Soros, Graham to Peter Lynch to Fisher, it seems that every legend has his own unique view of wealth. The Morgan family has two very famous family precepts. The first one is called "it is not the law that drives history, but money, money!" " This shows how the Morgan family used money to do business first. Second, "information is the magic weapon to make money". In the era of information asymmetry, mastering effective information sources means mastering the lifeblood of wealth, which is still applicable in China today.
Well, from the above story, we know that the wealth of the Morgan family mainly has four secrets: the first is the rich family background and the wealth view of the merchant family; The second point is to use war and information resources to obtain wealth; The third point is the pursuit of excitement in adventure, which belongs to the real "risk preference"; Fourth, use financial resources to control the lifeline of the real economy and continue to expand the wealth map. JP Morgan once said, "Let money do what the government and the law fail to do", which has become the so-called American dream that every American who pursues wealth and freedom admires.