Karl Marx may have been dead wrong about communism, but by George he was right about capitalism: It's brutal.
There are winners and losers, and the only "participation trophy" is raw survival.
Own a business, and you can - and probably will - be blindsided by unanticipated developments that turn your mighty, profitable enterprise into a smoldering pile of ash.
Consider a buggy whip manufacturer around the turn of the 20th century.
This guy had a great business; everyone needed his product to get horses to pull the buggies along, and he made a handsome living.
Of course, a decade or so later, our hypothetical captain of horse-motivating industry had no business, because, heaven knows, you don't need a buggy whip to get your fancy newfangled car to go.
Mark my words: As of today - Sunday, Feb. 4, 2018 - the pharmaceutical and healthcare industries - and everyone that owns a piece of them - look a lot like the buggy whip manufacturers of 1901.
About the Author
Tim Melvin is an unlikely investment expert by any measure. Raised in the "projects" of Baltimore by a single mother, he never attended college and started out as a door-to-door vacuum salesman. But he knew the real money was in the stock market, so he set sights on investing - and by sheer force of determination, he eventually became a financial advisor to millionaires. Today, after 30 years of managing money for some of the wealthiest people in the world, he draws on his experience to help investors find "unreasonably good" bargain stocks, multiply profits, and build their nest eggs. Tim tirelessly works to find overlooked "hidden gems" in the stock market, drawing on the research of legendary investors like Benjamin Graham, Walter Schloss, and Marty Whitman. He has written and lectured extensively on the markets, with work appearing on Benzinga, Real Money, Daily Speculations, and more. He has published several books in the "Little Book of" Investment Series and a "Junior Chamber Course" geared towards young adults that teaches Graham's principles and techniques to a new generation of investors. Today, he serves as the Special Situations Strategist at Money Morning and the editor of "Max Wealth" and Heatseekers.