In case you are not aware of what Storage Wars is, it is a television show on A&E where people bid on lockers at storage facilities. They get 5 minutes to look inside from the doorway and they cannot open or touch anything in the units. The show follows 4 personalities as they go from facility to facility, each one having their own style and persona.
One of the lead personalities is David Hester who owns Hester Auctions. He did not always own the thrift shop and auction house; in fact in 2005 the shop was a furniture store. Hester always had a knack for selling items, when he was younger he sold his father’s train set piece by piece over a 5 year period. Hester is known as the antagonist on the show sometimes driving up the price on auctions so the others pay more for their unit. Dave has shown us that it is never too late in life to take a risk; he converted a furniture store into an auction house by purchasing abandoned storage lockers. Sometimes a little risk can have high reward as in Dave’s case. His net worth is now a few million dollars!
The show teaches us that looking from the outside in, you may be able to see an antique that is worth a lot of money but upon closer inspection it is a knockoff. This is very similar to investing, whereas a company at first glance looks investment worthy but after all the financial analysis performed the company does not have very promising financial ratios. There is always risk when purchasing any type of investment but with sound financial knowledge and understanding we hope to reduce risk into a level we are comfortable with. Sometimes things are not always as they appear at first sight.
Dave Hester recommends subscribing to the feed to ensure that you are never without quality reading.