The Spirit of Human Innovation

The following is adapted from Wisdom of the Wealthy by Tabrez Sheriff.

A camping trip changed my life. What I thought would be a weekend getaway of fishing and campfire stories at the Lake of the Woods in Northern Minnesota ended up being the start of a total financial transformation in my life. I went on the trip with three physician colleagues who’d become close friends, three very wealthy colleagues who shared their journeys and wisdom with me. I still implement the lessons I learned on that trip.

We camped by a warm fire under a cool, summer night sky. Holding coffee mugs, we gazed at the stars and the northern lights.

Ravi recalled a quote he once read: “‘A person’s best friend is his hindsight, because that is all that person has.’”

“Very true,” Masood said. “In about thirty to forty years from now, what would the world look like? Better or worse?”

“That’s a difficult question,” I replied, “because I can’t see the future.”

Masood continued to ask, “If better, then why? And if worse, then why?”

I thought to myself and said, “Humans invented the light bulb, the steam engine, the computer. The spirit of innovation in human hearts will continue to innovate.

So with more innovation and progress, the world will be better.

That was easy. If the world is getting better, as a result of human innovation, then the ability to innovate will only become more valuable.

Let’s now think of a not-so-great scenario. What if the world got worse? Then one of several scenarios could happen, and we may go extinct, in which case, it would not matter what we own.

An asteroid may hit us, or the earth may warm too much, or a solar storm may destroy everything we care about. In that case, again, there is not a whole lot that we could do.

But what if humanity innovated, like before, and found a solution to divert such asteroids heading toward the planet? Or what if humanity found a solution to global warming or, somehow, figured out how to shield the earth before a solar storm? What would be the price of such human innovation?

Regardless of the better-or-worse scenario, we can all agree that the ability of humanity to innovate is the single most valuable asset humanity has ever possessed.

Now that we have outlined the above argument, you will realize that one method of becoming successful and wealthy is to invent something that solves a human problem. Another means to similar success would be to own someone else’s invention that solves a problem, or to own someone’s ability to invent or solve a problem.

For example, we are amidst the COVID-19 crisis as I type this manuscript. During this pandemic, we do have a lot of things to worry about. But would you doubt the ability and the spirit of innovation that reside in all the hearts of our healthcare workers and scientists trying to create a cure or vaccine? Think again; how wonderful would it be if you owned the creative ability of such doctors and scientists.

Is there a way to do it? Yes. Absolutely.

You can own a healthcare company that is likely to come up with a vaccine, or several healthcare companies that are likely to come out with a drug or vaccine via a low-cost ETF.

Yes, my friend, you can own the spirit of innovation of a human mind that is not yours.

What would happen if a company created a drug or vaccine that every human on this planet will need?

Your ownership of such company stock would give you ownership of that company and a share of its monetary gains. What people often forget is that every invention and progress that the smart minds in these companies make also belongs to them.

And that is the secret to long-term wealth. It’s not the mere ownership of a company’s ticker symbol, which changes in price every second. It’s the ownership of the spirit of innovation of the minds inside it.

If the spirit of human innovation is only going to become more valuable, tomorrow, would it not be prudent to buy some of those innovative minds today?

Companies are driven by the spirit of human innovation, which is the strongest and the mightiest force on this planet.

The coming together of innovative minds that solve a problem, that lead to change in human life or behavior, etc., typically for the better, which then leads to the creation of monetary value — via sales of a product or service — is called a business/a company.

There are big companies and small companies, but each one was created by one or more entrepreneurs carrying the flame of the spirit of human innovation.

This force placed a man on the moon. This force created all the technology we see. This force created all the medication that keeps us alive. This force will put humans on Mars, solve all modern problems, and make humans immortal someday.

For the world’s largest and best American companies to be incapacitated and go out of business, all at once, the world would probably have to be ending, which would mean there are bigger issues to face than those of investments. As long as the world is here the world will need goods and services, and the ones providing them will be among the best and brightest American companies.

It’s February 28, 2020, today, and while I write this book, during this period of a novel coronavirus outbreak, I find people are understandably scared. The Dow Jones has dropped 4,000 points today. While I write this book, I’m watching the market in a free fall.

My advice to you will be: do not panic during any such future events.

Here are some things to keep in mind and a few questions to ask yourself. Will the best and brightest minds stop inventing? Will there be less innovation following any such crisis? Will people stop buying all the necessary goods and services?

If your answer is no, maybe you should not be selling companies on the stock market, but rather buying, now, because the same spirit of innovation is now cheaper to own.

For more information on the Spirit of Human Innovation and more, Wisdom of the Wealthy can be found on Amazon.

Born into a poor, struggling family in India, Dr. Tabrez Sheriff, MD, prevailed over impossible challenges to earn his medical degree, arriving in the United States with $177 to his name. His ultimate success was not a matter of luck but a combination of hard work, persistence, and a systematic rise to wealth.
Recognizing the same system in his friends’ stories, Dr. Sheriff decided to share their secrets with others who need them, walking them through their proven wealth-building process of entrepreneurship, real estate, and stock market investments.
“Now, holding those things I once imagined, I wish the same for you.”
— Dr. Tabrez Sheriff, MD