| Here's a secret not everyone will admit about becoming a great investor. Every great investor needs a bit of luck.
But I don't consider luck to be just chance; something random or accidental. The Roman philosopher Seneca once said that luck is what happens when “preparation meets opportunity”. I agree. I've been investing for over twenty-five years, and each of my greatest investments have come not just picking the right stocks, but also by seizing the opportunity to buy them at the right time. This is the fourth economic downturn I've had to weather as an investor. These have taught me some harsh – often times expensive – lessons, but they've repaid me several times over in what they have taught me about spotting that right time to invest. And I am utterly convinced that I am writing to you today in the middle of a once-in-a-generation buying opportunity. The next great stocks of the future – the next Tesla, the next Netflix – are being sold off. They're in the bargain basement. When you began investing, I've no doubt it was to secure your financial future and maybe – just maybe – get lucky and create life-changing wealth. Retire early, put your kids through college, buy that speedboat. Whatever life-changing means to you. I promise you that this is the opportunity your preparation has been waiting for. This is where your “luck” happens. | 
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