Mark Cuban Says Picking the Right Stock Is ‘Really Hard’ But Buying Toilet Paper in Bulk and Sticking It Under Your Bed Is ‘Sometimes the Best Investment’
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billionaire investor Mark Cuban He didn’t get rich clipping coupons, but he sure knows the value of stretching a dollar.
He was broke in his 20s, He’s rushing to get his foot in the door– waiting tables, living paycheck to paycheck, and working sales jobs before selling his first company and never looking back. He’s now a self-made billionaire with more money than most of us will ever see, but he still believes in a surprisingly simple habit: bulk shopping.
speaking in a way 2020 Men’s Health video clipCuban hasn’t started stock pickings or a portfolio strategy. Instead, he got realistic about how the average person can stand out on Wall Street even without a broker or finance degree.
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“It’s really hard to pick the right stock, the right index fund or the right mutual fund,” Cuban said. That’s not exactly what you’d expect from a man who made his fortune betting on technology at the height of the dot-com boom and selling to Yahoo. But he wasn’t trying to impress anyone. He was making a point: Sometimes the smartest money move is practical, not flashy.
“If you typically spend $2,000 on all the supplies you use in your home over the course of a year, [like] You can save 40% by purchasing your toothpaste, toilet paper and shampoo. [in bulk] “And sticking it under your bed if you have to means saving $800,” he said. This isn’t a stock tip. It’s Cuban logic; it comes from what actually works, not what sounds good.
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Just make sure you’re not heading towards savings. It’s clear that one of the biggest financial mistakes Cubans make is Cuba. make uses credit card for purchases They cannot pay immediately. He has revealed in the past that cutting his own card was one of the hardest lessons he ever learned. So while buying essentials in bulk may be a smart move, he argues that this only counts as a good investment if you’re not interested in doing so. In other words, cash is king—and only buy what you really need.
And it didn’t stop there. It called out the type of impulsive shopping most people do—paying full price for everyday things—and turned it on its head. “Take advantage of deals on Amazon and other places where you can buy in bulk,” he said. “If it’s money you can definitely spend and save no matter what, It’s the best investment you can make.… Sometimes the best investment you can make is being a smart customer.”
