J. R. Fenwick, author and CEO, FLip That Stock, Hold That Stock
Less than a month ago, an article was released stating by 2053, "Black households will have a median wealth of zero." In other words: half the population have less, the other half have more. Those people who have more are typically white people. If you don't see that as a problem, we probably shouldn't be friends. If you aren't willing to do anything about it, don't even acknowledge me when you see me in the streets. Word.
Wealth inequity is not a new phenomenon. Not only is it not new; the repercussions and consequences of failing to create generational wealth can impact your family for generations. Take a look at this timeline:
Photo Credit: Asset Building Policy Network
The image your are seeing above is vague and doesn't fully paint the picture of how community red-lining, gerrymandering, Jim Crow laws, the preschool to prison pipeline, mass incarceration, funneling crack cocaine into Black neighborhoods, the denial of veteran's benefits after Wold War II and various other oppressive acts against people of color have crippled our ability to ascertain wealth. White people have had a 300 year head start on obtaining wealth and our ability to catch up is fleeting.
There are so many tools, apps, e-books, seminars, workshops, investment groups for Black people utilize in an effort to turn the page, get these coins, and eradicate poverty for the next generation. One man. J.R. Fenwick, is educating stock market beginners through his companies, FLip That Stock and Hold That Stock. Fenwick has been buying and selling stocks for over 15 years, and started the company when friends and even strangers began repeatedly asking him to teach them how the stock market works and how to make money buying and selling stocks.
MRTV: How did you get your start in buying/selling stocks?
J.R.: I got started when a good friend asked me if I traded or invested in the stock market. When I said, "NO" and I was not interested, he said, "You can't be a real businessman if you don't know how the stock market works, everything flows through the stock market! It's the greatest wealth creator ever invented! For 2 years every time we met he would talk about the stock market and everything he was saying made sense (dollars and sense). I finally said, " I want to learn!!!" and he began to teach me and I took some classes as well and my first trade in the stock market I made money and I have been hooked ever since. I realized after getting educated that it was nowhere near as complicated as they make it seem.
MRTV: Who was your 1st client and how did you get them comfortable with participating in the stock market?
J.R.: Before I started FLipThatStock.com and HoldThatStock.com, I began telling a few of my close friends how I was trading stocks and making money and they should check it out. They came by my home to watch me trade and each of them asked me to teach them. They started telling people and more and more people started contacting me asking it I had a class they could attend to learn and that's how FLip That Stock began.
MRTV: In your 15 years of buying and selling stocks, what is the most common fear or misconception you hear about the stock market?
J.R.: The #1 fear that I hear about the stock market is that it is too risky and complicated and you will loose all your money. I let people know there are only 2 reasons a person would lose all their money 1) they simply do not know what they are doing (they didn't get properly educated) or 2) they took excessive risk to get excessive profits. When you are properly educated you learn how to minimize risk and maximize profits.
MRTV: Define "risk" as it pertains to investing and why it's worth it.
J.R.: "Risk" is the potential of losing something of value (i.e. $100) for the opportunity to gain something of greater value (i.e. $300). Everything we do in life involves risk. When you drive your car to the grocery store, the value of getting your groceries and eating outweighs your risk of being in an accident. However to decrease your risk of getting injured if you were to get in a car accident, you wear your seat belt, drive the speed limit, obey traffic signals and stay alert to what others who are driving are doing, it's the same when you invest and trade stocks.
When you are educated and understand how to manage risk in your favor, the rewards can be great and are worth it.
MRTV: What is the very first step from someone interested in making money on the stock market?
J.R.: The first step is ALWAYS to "GET EDUCATED"! Too many people just focus on making the money and want to skip over or rush through the education process. You wouldn't want your doctor, dentist, babysitter or pilot to NOT be educated or RUSH through their education and so you must take the time to get properly educated on "How the stock market works before you can make money".
MRTV: What are the pros/cons of hiring a broker?
J.R.: I'm a firm believer that "NO ONE CARES MORE ABOUT YOUR MONEY THAN YOU! Therefore I don't see the need to hire a broker, technology has made it possible to find, research, buy and sell stocks online without hiring and paying a "broker". And you can do it all from your laptop, tablet and even smartphone!
MRTV: What stocks would you suggest to someone just getting started as an investor?
J.R.: This is where people go wrong trying to start off with a stock recommendation without learning the simple formula for making money in the stock market first and then picking stocks that fit their formula. We teach the simple formula for making money first then search for the stocks.
MRTV: There are a lot of learning tools online as well as apps available for anyone who desires to be a wealthy investor. Which are your favorites and why?
J.R.: My favorite tools are (of course) FLipThatStock.com and HoldThatStock.com Memberships because we include everything needed for beginners to get started and we take you through a 3 step process:
Learn (what is a stock, how does the stock market work, what tools do you need and how do you use those tools to benefit you)
Practice (using the education and tools)
Do (actually buy and sell stocks)
MRTV: What fees are associated with your services?
J.R.: We offer a 1 Year All Inclusive Membership for FLipThatStock for a discounted fee of ONLY $1,997 (Reg. $2,997) and a 1 Year Membership for Hold That Stock Membership for a discount rate of ONLY $397 (Reg. $497)
MRTV: Where can you be reached for consolations?
J.R.: I can be reached by going to FLipThatStock.com and/or HoldThatStock.com and clicking on the "Contact Us" button.
There is no reward without risk! Consider investing in J. R. Fenwick's educational tools and begin investing in yourself.