HOUSTON, July 24, 2018 (Newswire.com) - Houston-based Paul Sternberg credits part of his success to what he calls the "Amazon-proof" nature of many of his endeavors. "I saw the e-commerce boom coming and quickly built my business model on what I call the 'Amazon-proof' principle," he reveals.
According to Sternberg, these Amazon-proof businesses are operations on which e-commerce will have little impact, either now or in the future. "Businesses such as nail salons, hair salons, restaurants, and dry cleaners," says Paul Sternberg of Houston, outlining four examples.
Of his success through investing, Sternberg highlights a particular investment which he made in Bank of America. "I invested about eight years ago, and that investment has now quadrupled," he reveals.
Considered a risky investment at the time, Paul Sternberg was entirely confident in his decision. "I continue to be bullish in Bank of America," he points out. "I invested when the organization was near bankrupt, (because of the financial crisis) buoyed by my research into the circumstances and reading the court cases filed by the government which he accessed through PACER, or Public Access to Court Electronic Records, system. Thus, combing Sternberg’s training in business and law to make a well-reasoned decision.
Sternberg continues, "I discovered that they had sufficient funds in reserve to prevent bankruptcy and pay the government-imposed fines, and it was then that I invested. I believe much of the negativity surrounding Bank of America at the time was simply a factor of bad press. In fact, Bank of America had incurred $91.2 billion worth of legal fines and settlements since the beginning of 2008. Once that was paid, it freed up an enormous amount of cash flow. It went from losing money to profiting 29.2 billion as of 2017. As interest rates and operational efficiencies increase, I forecast a $60-$70 price range over the next few years.”
Another area in which Paul Sternberg has invested with great success is NFL personal seat licenses. "It's slightly unorthodox," he suggests, "however I bought several personal seat licenses for the Houston Texans stadium at $4,500 each which are now valued at over $30,000 a piece."
Sternberg goes on, "I've had similar success with the Dallas Cowboys, where I saw my personal seat licenses increase greatly in value in only a relatively short period of time. So, in that sense, I've found them to be a great, if slightly unconventional, investment opportunity."
Like any financial investment, Sternberg is quick to make clear that while personal seat licenses have been highly lucrative for him as an individual, nothing is guaranteed. "With that said, and at the end of the day, fans don't typically purchase personal seat licenses intending to make money," he notes, "they buy them to see their favorite sports teams."
So, what advice would Houston's Paul Sternberg give to those looking to achieve similar financial and business successes in life? "It's fairly simple really," the investor, entrepreneur, and businessman suggest.
"In essence," he explains, wrapping up, "it's about being passionate, it's about maintaining a unique perspective, and it's about adapting to the metamorphosis of business innovation, paying particular attention to potential new investment opportunities."
To connect with Paul Sternberg, contact him on his Linkedin.
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Source: Paul Sternberg