Although with businessmen sometimes it takes years to determine whether someone is great.

I’m very much a believer in the gene theory: just like you can hit a baseball, like you can be great soccer player, you know that some people are just better than others and nobody knows why. One guy looks better, he’s bigger, he’s stronger, but he’s just not as good. It’s the same thing in business. I think genes are more important than experience. If you gave me a choice of having a great business genes or great experience, I would take the genes. But the combination is still the best.

And you know I’ve seen a lot, like what I am doing now. I’m buying at discount because I know a lot that other people don’t know, they still haven’t figured out. Now is a great time to make money. You know a lot of people pay me a lot of money to go around making speeches?

Over a million dollars per talk?
Yeah. Two or three years ago I’d make speeches and tell people, “Don’t buy real estate now, don’t buy it.” I’d lecture them: “Don’t use these exploding mortgages.” I called them exploding mortgages because I knew they were going to explode in everybody’s faces. You’re getting 112 percent financing, but you’re putting your life at risk, and I told people don’t use exploding mortgages, don’t buy real estate, which didn’t please the sponsors of the conferences. In Canada, I made a speech to 61,000 people, a huge number of people, and they weren’t thrilled when I told them not to buy real estate. I said, “Look, I’m going to speak the truth.” » next