One of my favorite activities is to watch CNBC documentaries. I am always amazed at the depth and quality of reporting that is done to present a top notch presentation which simultaneously entertains and informs.
In late 2009, an episode was produced called “Painful deal in the desert” which described John’s story. He had a very successful background having amassed a net worth of approximately $100 million dollars as founder of a software company. To this day, his name is known around the world. John had cashed out his considerable fortune in software and decided to enter the land of real estate investing. Although it was not overnight, his net worth began to slide as the housing market began to correct in the mid 2000’s. From that point on, his net worth declined until the day the show aired, he was worth approximately four million. A 96% drop in net worth is considerable for anyone. John admitted he did not know what he was doing in the realm of real estate investing. The implication was that if someone has talent in one area, that does not necessarily mean that success and skills are transferable from one financial endeavor to another which is also something I will personally agree with.
By the way, John’s last name is McAfee as in the founder of an antivirus program which your computer may be running right now.
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