Kevin-O'Leary-Wealth-Austin-Texas (6)Kevin O’Leary of Shark Tank was in Austin, Texas on Tuesday, February 5, 2019. © 2019 Michael Lewis Global Photography All Rights Reserved

Kevin O’Leary of Shark Tank was in Austin, Texas on Tuesday, February 5, 2019.

O’Leary has been on Shark Tank for 11 seasons and he does not see Shark Tank ending any time soon. He thinks he would be dead before they stop producing Shark Tank episodes. O’Leary stated Shark Tank is a huge marketing tool. Businesses do not have to accept a deal from the sharks to become successful. A perfect illustration of this fact is the Ring Video doorbell and monitoring service. Jamie Siminoff, Inventor of Ring rejected an offer by Kevin O’Leary in 2013 but after being on the Shark Tank, Siminoff rebranded the company and it received an additional 5 million dollars in sales.

It has been said that the Ring Video doorbell is like caller ID for the front door and help catch crooks from stealing packages delivered by UPS, FedEX, Amazon and USPS.

Ring was sold to Amazon in February 2018 for an estimated value of up to 1.8 billion dollars.

Here are some valuable nuggets from Kevin O’Leary on Tuesday.

The Golden Rules of Investing according to Kevin O’Leary

Diversification is the only free lunch in investing, never have more than 5% in any one position.

There are 11 sections in the S&P, never own any more than a 20% position in any one sector.

Never own a position that does not return capital.

Own at least 35% fixed income at any time including real estate.

Position preservation above performance.

Keep 10% in cash at all times because shit happens.

Effective Entrepreneurship

Entrepreneur able to articulate opportunity in 90 seconds or less (like an elevator pitch).

Successful in convincing investors that they were the right team to execute the business plan.

Know your business numbers and have a comprehensive knowledge and understanding of your business models.

Kevin O’Leary has an estimated net worth 400 million dollars.

© 2019 Michael Lewis Global Photography All Rights Reserved