Jamaican-Canadian billionaire, Michael Lee-Chin addressed attendees at the February luncheon seminar of the Barbados International Business Association (BIBA), his presentation, “Prosperity through Challenging Conventional Paradigms”
Lee-Chin shared his five principles that lead to creation of wealth, which he says, he developed by observing the strategies of America’s wealthiest investors, one of which he named as Mr. Warren Buffet. In sharing his tactics, he confidently dismissed the false notion that ‘diversifying one’s assets’ leads to successful results.
According to sources,, among the five principles he mentioned were, “(1) That wealth is created by owning a few high quality businesses; and (2) that wealth is created when the person owning those few businesses fully understands them, (3) that, the businesses owned are in long-term growth industries; (4) that financing is done by prudently using other people’s money; and (5) that the few businesses owned are owned for the long-run.”
Michael lee-Chin is listed in the Forbes Magazine as one of the world’s wealthiest business persons, he is currently the Executive Chairman of AIC Limited (a Canadian Mutual Fund) and the National Commercial Bank of Jamaica, only two of his various successful investments .