This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Can Our Newest Millionaire Handle the Job?

In that regard, I would advise Quezada to immediately hire a tax attorney and a licensed financial planner. This is how he should first build his "corporation." He should ignore the unsolicited opinions of everyone else, and there will be plenty. A good licensed CPA, like a great CFO, can make or break any company. This is what Quezada must realize.

For now, I would congratulate Quezada on his new "gig." It remains to be seen, however, how long his tenure under his millionaire title will last. Statistics show that previous winners get fired at an alarming rate. Infractions include gross incompetence, or this case, fiscal negligence.


That's why millionaires often need so much more than what they have. The fear of losing their wealth is often a bigger burden than not having the money at all. "More money, more problems." While it's sometimes true, Quezada will tell you it's at least better than the alternative.

Let's hope he keeps the "job."



This article was written by an independent contributor, separate from TheStreet's regular news coverage.

Richard Saintvilus is a private investor with an information technology and engineering background and has been investing and trading for over 15 years. He employs conservative strategies in assessing equities and appraising value while minimizing downside risk. His decisions are based in part on management, growth prospects, return on equity and price-to-earnings as well as macroeconomic factors. He is an investor who seeks opportunities whether on the long or short side and believes in changing positions as information changes.
2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG
AAPL $125.80 0.00%
FB $77.56 0.00%
GOOG $530.80 0.00%
TSLA $232.95 0.00%
YHOO $41.30 0.00%

Markets

DOW 17,928.20 -142.20 -0.79%
S&P 500 2,089.46 -25.03 -1.18%
NASDAQ 4,939.3270 -77.6020 -1.55%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs