In Jim Cook's Archive


It’s hard to make a lot of money. That’s why so few people manage to do it. I would define a lot of money as an amount of $5 million or more. The term millionaire implies having a million, but a million doesn’t cut it anymore because you need more than that for peace of mind in the retirement years. The money has been watered down so to be considered rich, it’s five-million (you’re welcome to disagree).

A requirement for achieving that kind of wealth is to constantly work throughout your life towards that goal. It must be a major definite purpose in your life. Whatever the mind can believe it can achieve. This pursuit is generally difficult and requires frequently overcoming adversity. In my life nothing has come easy and I would sometimes question why everything was such a struggle.

I wrote a book called The Start-Up Entrepreneur in 1983 which made some best seller lists. I chronicled the setbacks everybody faces when starting a business. I paid my dues through the years in several different enterprises. In 1973, I started Investment Rarities, went without many paychecks, and finally made inroads in the late seventies. But, most of the time I was broke. Finally, I struck rides in 1980 when silver and gold went through the roof. We made most of the money arbitraging silver coin bags. One morning, I came to work at 10 am and my trader had already made one-million dollars. I went from having nothing to over the five-million in 60 days.

Subsequently, I made plenty of mistakes, but continued my pursuit of good fortune as the years rolled by. My outside investments have paid dividends. However, in all my pursuits of money making, I have never had the blood lust in my nostrils as I do today with silver. In my mind, this is the big one, the absolute drop-dead change for some very big money. I’ve paid close attention to silver analyst Theodore Butler and I believe he is on target in his bullish prediction for silver. I’m not saying I’m the shrewdest investor on the block, but if I didn’t die my hair it would be totally gray. That means I’ve had years of experience, much of it with silver and gold. I’m making a big personal bet on silver. Hopefully I can do some good things with the money I expect to make. I’ve always been overoptimistic so let that be a word of warning. But, I don’t hesitate to give this advice: You need to be in on this and the bigger the better.

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