Some companies, but not many, make a great deal of money during a gold rush: most make little or nothing. The same applies to whichever investment strategy is all the rage - whether it be real estate, dot coms, emerging markets, alternative energy or something else that has caught the eye of the mob.
The people who make solid - just not spectacular - profits in a gold rush are those who supply picks, shovels, beans, transport and, most particularly, saloons. When the next gold rush starts - and there will be one someday - keep in mind that investing in the supporting infrastructure is certainly safer, and may well be much more profitable, than trying to pick winners.
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About the Author
- Hugh Elliot
- Mr. Elliot is a founding partner of Collingwood Partners, LLC. He has been an independent management, mergers and acquisitions, finance, and business consultant since 1979. His clients have included government contractors, manufacturing, service, research and development, financial, professional, and banks. He specializes in assisting small and rapidly growing companies with strategic planning, financial management and the management of growth both organically and by acquisition. Mr. Elliot was born and educated in the United Kingdom. He immigrated to the United States in 1968 becoming a naturalized citizen in 1991. He graduated from the University of Cambridge (England) with a BA (Hons) in Agricultural Science and an MA in Agricultural Economics. In addition to his other responsibilities, Mr. Elliot serves as an International Judge for the sport of sailboat racing.
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