Free Think Like a Champion: An Informal Education in Business and Life by Donald Trump

make a big difference in your quality of life and your approach to money.
    The reason we wrote Why We Want You To Be Rich is because the more independent people become, the stronger a nation becomes as a whole. As we’ve noticed with the recent upheaval on Wall Street, things aren’t always as solid as they seem. That calls for individual responsibility and financial intelligence. We can’t rely on systems to do the work for us or expect things to fall in place because the people who are smart about money are supposedly
working there. I have always been wary of the stock market. It’s a gamble, but it can be lucrative, which is the lure.
    In short, there are no guarantees. That means being alert to national and world markets. Do your homework daily. I shouldn’t need to emphasize this if you’ve paid attention to what’s transpired in the United States from 2006 until now, which is late 2008.There was an implosion in the financial sector that was unprecedented in our history. I see it as a wake-up call.
    Robert and I tried to warn people back in 2006. Now I’m back to tell you loud and clear that this area of your life is of great importance. Yes, study your specific area of interest diligently, but realize that if there is no money for scholarships, whether you are studying anthropology or literature or law, you might be out of luck. Everyone will be affected. Whatever your emphasis of study is, be aware of what is going on financially around the world.
    We are all businessmen and women, whether you see it that way yet or not. If you like art and can’t make money at it, you eventually realize that everything is business, even your art. That’s why I like Warhol’s statement about good business being the best art. It’s a fact. That’s also another reason I see my business as an art and so I work at it passionately.
    We all have opinions. Due diligence means finding out the difference between opinions and facts. I was astounded to find out how many people don’t know how the financial world is set up. Equities, emerging markets, asset management, commodities, mutual funds, hedge funds, annuities, stocks, bonds, and mortgages should be common knowledge by the time you are in high school. That’s a big oversight in our educational system. Every student should know how they all work and never expect a financial “expert” to give them the whole story. You have to know it yourself.
This is a capitalistic society, which is good, but it also means watching out for yourself.
    My advice to you is to take as many finance classes as you can, no matter what your line of work is and/or your focus of study might be. If you’re not good at economics or statistics, all the more reason to take those classes and pay attention. Having a financial blind spot is setting yourself up for some unpleasant surprises in the future. Know how the financial sector works. It affects you in every way.
    I heard someone say during the amazing collapse of some financial giants in the United States, that, “I’m not really interested in the market.” Oh really?! I was stunned. As if it doesn’t affect them! When they don’t have a job to go to next week, maybe they’ll realize they should be interested. The ripple effect is felt everywhere, nationally and internationally, when the markets and banks falter. It shows we are all connected, whether we want to believe that or not.
    My emphasis here is to advise you to be financially literate. It’s in your best interest in the biggest sense you can imagine. Please heed my advice and pay attention. You can start by clicking onto the Finance page on Yahoo! when you go onto your computer every day. Check out the markets a few times a day and see how the dollar is doing against the Euro and Yen. Learn to read the charts and the trends. Read the pertinent articles. That’s a baby step, but it will get you thinking on the right wavelength—which could make a significant difference in your