Building Wealth My first life-altering investment happened right after I left Wall Street and was about to pursue medical school...
Although I had saved up years of Wall Street bonuses, I needed more than money to get into medical school. So I worked as a unit clerk in a hospital and as a University of Wisconsin lab assistant to punch up my resume for my medical-school applications.
While working in the lab, I learned that the lab's director and a friend of mine were studying and exploring new forms of "gene therapy." They wanted to start a company around it... And they asked me to look over their business plan and perhaps invest.
As a young guy with capital, it was an easy decision to bet on these smart guys. Several of my friends and family did, too.
I put up tens of thousands of dollars... and this investment turned out to be one of the best of my life.
Every $10,000 turned into $175,000.
You see, my investment earned me shares of a private gene-therapy company called Mirus Bio from its founding in 1997... I held them until pharmaceutical giant Roche paid $125 million in cash to buy us out in 2008.
Even my little brother borrowed money while in medical school for the venture, making 17 times his investment. He paid off most of his tuition with his gains.
Of all the ways to make money, investing in medical companies is one of the most fulfilling. If you can prove a new insight into how the human body works and develop that into a treatment that saves or improves lives, you should be rewarded.
For example, the guys behind Mirus Bio were trying to figure out how to get genes inside cells to change the defects behind many deadly diseases like muscular dystrophy.
With my background of working on Wall Street for some of the biggest banks... and then becoming a board-eligible eye surgeon... I love when finance and medicine intersect.
These are two passions of mine. I've worked hard to make them my expertise, too.
I know firsthand that monster gains happen all the time in the medical world. And you don't need to have an M.D. or know someone in the industry to "get you an in" on a private deal.
Plenty of public companies in the health care world can double your money in no time at all... Many of these companies are misunderstood or sell unappreciated products.
It's no secret that I believe some of the biggest gains over the next few years and even decades will come from health care. I've been pounding the table on the sector for the past few months.
You see, many factors are working together right now to exponentially increase our capability in medical care... There's immunotherapy, gene therapy, machine learning, and much more.
Changes are going to happen... and fast.
Of course, you'll hear people tout some company that has the "next life-changing product" all the time. Unfortunately, many of these are just smoke and mirrors that end up losing early investors a lot of money.
You make big gains when you find little-known companies that have products that make a true difference in the medical field.
Today, my colleague Dave Lashmet has just that... He has identified a new technology that could be an incredible treatment for cancer.
Specifically, he has identified three companies that will change our battle against cancer forever... Each of these mostly unheard-of companies can deliver hundreds of percent gains in the years to come as a result.
Again, you make money investing in medical companies when their products will change lives. This is what Dave Lashmet has found.
I recommend all subscribers view his brief presentation on the topic here.
What We're Reading...
- Something different: It's bad enough mortgage rates are over 7% – now it's harder to qualify for a home loan.
Here's to our health, wealth, and a great retirement,
Dr. David Eifrig and the Health & Wealth Bulletin Research Team
October 12, 2022