Which ways exist to triple your money in one year?

Ludanto · #1 10-29-2007, 04:47 PM

Let's say you want to triple your money every year.
Let's say you start with 1 dollar. After one year you want to have 3 dollars, after 2 years 9 dollars, after 3 years 27 dollars and so on.
Let's say you have 12 months in which you can spend time to learn anything that you need to accumulate money in some kind of way. (But you are allowed to learn only one 'craft'.)
Which craft would you choose to learn and apply?

I know that you could triple your bankroll yearly for some years with poker.

But what other possibilities are out there to triple your money each year and how risky is each of them? What is the safest way to triple your money each year?

I know of sport betting, investing in stocks, trading, manufacturing something. What else is there? What is the most sure way of trippling your money each year if you really do your best?

Somthing tells me that earning money and increasing your wealth exponentially in this world is easier and can go faster than many people might believe if you know what you are doing and if you are serious and disciplined about what you are doing. Also thinking long term seems crucial.

Am I just dreaming?

CobraGoat · #2 10-29-2007, 04:50 PM

I'll take this one step further...what is the best way to quadruple your money in one year? See, I think you are aiming too low. Shoot for a ten bagger and tripling becomes childs play.

Henry17 · #3 10-29-2007, 05:03 PM

I'd say you are dreaming.

mtgordon · #4 10-29-2007, 05:18 PM

craps ftw

maxtower · #5 10-29-2007, 05:18 PM

Its easy if you don't value your time at all.

James282 · #6 10-29-2007, 05:24 PM

If you started with 1 dollar, I'd bet you could do a lemonade stand and make 20x your money in the first year, at least! if you are willing to start with 5 dollars - the sky is the limit!

punkass · #7 10-29-2007, 05:25 PM

you know what's better than tripling your money every year? quadrupling. Don't let anyone tell you there's something better than that.

john voight · #8 10-29-2007, 05:34 PM

can you triple $1 a year through investing?
If so, why cant you triple $100,000?
I mean what is the difference?

I am not leveling BTW.

I think if it were possible, you'd need to accumulate a lot of assets w/o using your own capital or money. Robert Kiyosaki discussed this somewhere:

He said in order for him to become a billionaire (it was like a a hypothetical prop bet him and his buddy were discussing) he would have to get $ returns while putting up $0 of his own money.

SO like you borrow $10, buy a shirt, and sell it for $12.
He obviously would do it on a much grander scale.

IMO it is possible if you are creative, and dont rely on practical investments (like stocks, etc..)

Ludanto · #9 10-30-2007, 04:14 PM

I feel pretty sure about 2 things. (But still I might be delusional.)

1. There are LOTS of different kinds / natures of markets.
2. There are even more spots to make +EV investments in those markets.

So the real question is: Is it possible to learn to do the right thing at the right time with your money in such a way that you triple it every year?

1. Find right market that allows you the most +EV investments for your bankroll.
2. Find right spot to make the most +EV deal.
3. ...
4. Triple up over the course of a year.

Impossible?

Markets are like games and limits in poker.
Spots are like tables in poker.

Poker books are written to show the way how to maximize your profit on the 'poker market' and many players think that it is not impossible at all to triple your bankroll during one year if you exercise the proper bankroll management and play well (but not really spectacularly well).

But once we go away from poker and look at other markets it all of a sudden becomes a dream to triple your bankroll in one year.

It seems to me that many people think it is a dream because they have no clue how to 'find the right games' in those other markets ...or maybe they sometimes don't even know what a 'good game' would look like.

I know that when I played my first hands of poker on Poker Stars with real money I had no clue by what to judge a 'good game' and I would have never thought how successfull one can be by just 'play cards'.

Jimbo · #10 10-30-2007, 04:18 PM

It is easy to triple a $5000 poker bankroll, variance alone will do it for many players. It is not so easy to triple a $500,000 stock portfolio unless you throw caution to the wind then you might as well put it on a 3 to 1 bet on roulette and triple your money in 45 seconds.

Jimbo