What wealth is

"Wealth is a crystal-clear understanding of the economic value of every thing, person or idea you see, hear, touch or read about."

Wealthy people have what I call "Midas vision," which is more than the proverbial Midas touch whereby the ill-fated king could turn, by merely touching, anything and anyone into gold.

Midas vision, which comes from mastery of business basics, allows a person to IMMEDIATELY see the business value of things, places, people, etc. This is probably why Warren Buffett says that you make a profit when you buy, not when you sell. (Buy low, sell never?).

Business is hard enough to understand (which is why I created the BMW workshop -- details at www.businessmodelworkout.blogspot.com), now it seems the economy is getting even more complicated. The famous intellectual Alvin Toffler wrote a brilliant book, called Revolutionary Wealth, capturing the changing nature of wealth in our fast-morphing economy.

Because society and the economy are getting more and more complicated, it is more critical than ever to try to acquire Midas vision, and this can only be done after you've committed to live and work either as a careerist, a free agent, a business master or a sharp investor.