Axel Meierhoefer – Never Get Involved in Anything You Don’t Understand

BIO: Axel Meierhoefer was born in Germany, served 22 years as an air force aviator and instructor. In 2005, he started his consulting company then discovered real estate investing during the recession. STORY: Axel blindly invested in penny stocks in the late 90s. He knew nothing about penny stocks at the time, and he ended up losing $75,000 after the market fell suddenly. LEARNING: Never get involved in anything that you don’t understand. Understand how company P/E ratios work and how they affect a stock.   “If it’s initially interesting, I’ll first go into research until I’m satisfied I understand it well enough to commit money to it.”Axel Meierhoefer  Guest profilehttps://www.linkedin.com/company/ideal-wealth-grower/ (Axel Meierhoefer) was born in Germany, served 22 years as an air force aviator and instructor. In 2005, he started his consulting company then discovered real estate investing during the recession. Now, experiencing financial freedom, he wants to share his secrets and life lessons with us. You can find him on his https://www.youtube.com/channel/UCvZRy6092XyFWW9bhCbIt4Q (Ideal Wealth Grower YouTube Channel). Worst investment everIn the late 90s, Axel was appointed the program manager for this new German Flight Training Center in the US. While at the center, the media kept constantly drumming on how necessary it was for everybody to be in the stock market. It was going on and on about the Dot-com boom that would change everything. At the time, neither Axel nor most other people he was with had any idea what a blue-chip stock or a penny stock was. But one thing that was the real fascination, initially for him, was that it didn’t take a rich person to start participating because the penny stocks were relatively cheap, well below $1 apiece. So you could buy like several thousand without investing a substantial amount. He figured if it’s not a considerable number, it won’t make a difference, so he bought a bunch of stocks. In just a few months, the stocks gained, and some of Axel’s fri