In an era where physical album sales are declining and online music piracy is rampant, Kenny G chose to change course and transformed into a stock trader. While it might seem unconventional, who would have thought that a renowned musician like Kenny G also had an interest and success in the world of stock trading? Here's the journey and endeavors of his career.
Brief Profile of Kenny G
Kenneth Bruce Gorelick, better known as Kenny G, is a saxophone player born in Seattle, Washington. His interest in music began at the age of 10 when he found his first love for the saxophone. His musical talents grew, and at the age of 17, he began playing professionally. Kenny G then signed a recording contract with Arista Records in 1982 and released several commercially successful albums, including "Duotones," which sold over 5 million copies.
Introduction to the World of Stock Trading
Kenny G's journey as a stock trader began in the 1980s when his uncle introduced him to Howard Schultz, the CEO of Starbucks at the time. Although Starbucks wasn't as popular then as it is now, Kenny G decided to invest his money in the company's stocks. This decision turned out to be very successful as Starbucks stock value later skyrocketed by 12,000%. Kenny G admitted that despite earning over 75 million copies from album sales, he made more profit from stock trading.
Journey in the Trading World
Kenny G became increasingly diligent and passionate about his new profession as a stock trader. Every morning, he routinely checked the stock prices of the companies in his portfolio. Within a decade, he managed to make profits equivalent to his earnings from the music industry. Kenny G emphasized the importance of being selective in choosing stocks to invest in. He also often sought advice from people he considered competent in specific fields before making investments.
Valuable Lessons from Kenny G's Trading Experience
From his trading experience, Kenny G imparted some valuable lessons. Firstly, choosing winning stocks for long-term investment is crucial. Kenny G achieved significant profits from his investment in Starbucks because he could see the company's enormous potential in the future. Secondly, consider input from more experienced individuals. Kenny G benefited from his colleague's input in selecting Potash Corp stocks, which resulted in significant profits. Thirdly, stock trading is not a game; it requires seriousness and thorough planning. Kenny G spent time conducting in-depth research before making investments. Lastly, being selective in constructing a trading portfolio is the key to success. Kenny G only chose around 30 company stocks for investment.
Kenny G's journey from a famous jazz musician to a successful stock trader inspires us all. His success demonstrates that with the right decisions, seriousness, and thorough planning, anyone can achieve success in the world of stock trading. By taking lessons from Kenny G's experience, we can become wiser traders and succeed in managing our stock investments.
.jpg)
.png)
.jpg)
.png)
