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Financial Fundamentals

A Fool and His Money Are Soon Parted

Don’t think that just because I’m a billionaire I throw money away. That’s not the way I was brought up, and that’s not the way I am today. I’m wearing the same watch I bought in 1964. One of my favorite pair of shoes is some penny loafers I bought in 1957. I can’t tell you how many times I’ve had them resoled.

I recall a conversation as a child with my grandmother who stopped me as I was running down the gravel driveway. She asked where I was headed, and I explained that I was going to get a haircut at Apple’s Barber Shop, and then going to the show.

She asked if I had the money, and I replied yes, I had 50 cents, that my haircut was 25 cents, the movie 10 cents, and I’d have a nickel for popcorn. And she said, “well, a fool and his money are soon parted. Don’t you ever forget that.”

coins

I said, “OK, grandmother. You told me that last week, and I’m not going to forget.” She always wanted me to know that she thought I should return home with that extra 10 cents.

An anecdote from a wise, very rich man; Thomas Boone Pickens Jr. – Founder, Chairman, and CEO at BP Capital and TBP Investments Management.

Tyler Brown – Financial Security Advisor
tylerb@riskman.ca
WP: (519) 648-9580
CP: (519) 212-9859
FX: (519) 489-2740
http://www.riskman.ca
244 Woolwich St. South, Unit #1 ~ P.O. Box 261 Breslau, ON ~ N0B 1M0

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