Billionaire Michael Lee-Chin's 18 rules to creating long-term wealth [Financial Post (Toronto, Ontario, Canada)]
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Source: Financial Post
You can save this article by registering for free here . Or sign-in if you have an account. Billionaire Michael Lee-Chin has 18 principles he has stuck to in order to build his wealth, he says. The Jamaican-Canadian chairman and chief executive officer of Burlington, Ont.-based private investment firm Portland Holdings Inc., says it is possible for other investors to follow these principles and build wealth, especially younger ones who have time and compounding on their side. With Warren Buffet as his role model since the 1970s, Lee-Chin has used his prescriptive framework to predict, and invest in, future trends, such as wealth management for a growing baby boomer cohort. Lee-Chin came to Canada in 1970 and studied engineering on a scholarship, then graduate business studies, eventually becoming a financial advisor. In the 1980s, he borrowed money to invest first in Mackenzie Financial Corp., then in what became AIC Ltd. and set up financial services entity Berkshire group
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