When we think of Mark Twain, we normally think of one of the greatest novelists in American history. However, as revolutionary as he may have been as a writer, Mark Twain was not exactly the best investor. In fact, by the age of 59, Twain had lost nearly his entire fortune – over 1 million dollars in today’s money – thanks in part to his investment in the Paige Compositor – a typewriter that would have changed the publishing industry at the time, had the inventor not taken 14 years to release the product into the market.
This investment decision no doubt contributed to Twain’s cynical perspective when it came to stock market speculation and investing. It also explains why he was quoted as having said, “My axiom is: to succeed in business: avoid my example.” And that, in itself, is not the worst piece of investing advice.
Looking back on his financial-folly, Twain could have likely avoided ruin had he sought out a trustworthy, fiduciary financial advisor. A transparent and honest financial advisor would likely have told Twain that high-stakes market gambling is not the best way to invest ones wealth. Twain would have been far better served had he diversified his portfolio as opposed to spending his life savings on a new-fangled typewriter.
At LexION Capital we focus on creating smart, personalized, diversified portfolio solutions for our clients. As a fiduciary wealth management firm, we adhere to the highest possible legal standard of investing. We strive to build healthy investment portfolios that sample from an array of equities, fixed income, and hard assets from all corners of the globe. Being that we are entirely independent, we work to bring our clients truly globally diversified solutions that will grow their wealth and help them to prepare for their future. So whether you are wondering how best to invest your inheritance, or if you have enough savings to retire; no matter where you are in your life, we’re here to help you make decisions that will safeguard your future.