John D. Rockefeller and Andrew Carnegie are two classic examples of people who understood the future of an industry. Rockefeller understood energy during the Industrial Revolution and Carnegie understood infrastructure.
JP Morgan was the financier that understood the future and organized capital from the UK to invest into early America. Warren Buffett is known as the finance king of the service age. Bob Johnson and Oprah Winfrey understood the future of media for cable TV. Jay Z made a fortune understanding how to sell music and other goods through continually evolving media outlets.
To achieve understanding, it is important to have an open mind and not judge the perspective of others. Understanding is key to success, as it leads to being able to predict the future and make beneficial investments
0:01:45 Understanding Perspective and Open Mindedness in Investing
0:04:06 Financing and Media Revolutionaries of the Industrial and Service Ages
0:06:08 Understanding the Impact of Volatility on Investors and Workers in a Changing Economy
0:10:21 Understanding the Youth and the Impact of Inflation
0:13:13 Having Faith in the Next Generation
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