Kids nowadays use “memes” from the internet, while kids in the past used TV commercial catchphrases. E.F. Hutton’s commercial stuck with Paul Mampilly. People view E.F. Hutton, Berkshire Hathaway’s Chief Executive Officer and chairman, as an oracle. When Hutton said Penny-Wise, Pound Foolish, it caught Paul’s attention. Paul agrees with Jamie Dimon and Warren Buffett who wrote that the number of American public companies has declined due to short-term earning pressures. The lack of public companies has led to less opportunities for retail investors. Quarterly earnings estimates are hindering companies from making short-term profits.
Companies that are unlisted can avoid the requirements for short-term earnings. The top 100 corporations went from having 48.5 percent of corporate profits in 1975, to 84.2 percent in the last two decades. There were 5000 stocks on the Wilshire 5000 Index in 1974, but now there’s only 3,599. The top 100 US companies made $1.46 trillion while the rest only made $274 billion in total. This has led to a lot of income inequality. Paul Mampilly, Jeff Yastine, and Matt Badiali write newsletters about the opportunities that small businesses have to generate wealth.
Paul Mampilly ran a money-management firm that went from $6 billion to $25 billion. It was named one of the “World’s Best” by Barron.
The Templeton Foundation recognized his skill and they invited him to their $50 million investment competition. He won the competition and made a 76 percent return during the economic crisis in 2008 and 2009. Billionaires desperately wanted him on their team. He unexpectedly left Wall Street in 2010 to help everyday Americans make money through his techniques. He made videos about people he has helped create wealth with his recommendations. He is offering a small device that he believes will start a second Industrial Revolution. He hopes 50 billion of them will be used by 2020. The DIGIT Act will help this technology have a breakthrough. People on Wall Street and 1 percent clients will not want this device to become available. The same recommendations Paul Mampilly gave billionaires are now offered to average Americans.