The Blind Multi-Millionaire Stock Investor | Investing | Success tips and life stories from Adam Khoo, Asia's top success coach.

The Blind Multi-Millionaire Stock Investor

This is another inspiring story to prove that anybody can succeed in achieving their dreams if they put their mind to it. No obstacle, no matter how insurmountable, can stop you from being successful.

Meet Laura Sloate, aged 65. When Laura was aged 6, she became blind as a result of an illness that caused her retinas to become detached. When Laura was aged 10, she found her passion…stocks! Her dad who was an investor who would call her in on New Year’s Eve to calculate the value of his portfolio. She says she’d do the calculations in her head faster than he could with a pad and pencil.

She dreamt of becoming a stock analyst and a to make millions from the stock market. Her dream drove her to study hard and despite her blindness, graduated with a Masters Degree in History. While interviewing for her first job as a securities analyst, a research chief at a brokerage firm basically told her to forget about a career on Wall Street. “He said, ‘You have three things against you: You’re a woman; you can’t see; and you’re inexperienced,’ ”

Laura refused to believe it. She says, ‘”Blindness isn’t an obstacle. It just forces you to do things differently.” She proved him wrong. After landing her first job as a stock analyst after many many stinging rejections, she went on to become one of the top stock analysts and investors on Wall Street, achieving a 20%+ annual compounded return from the stock market that turned her into a millionaire.

Today, she manages a $405 million stock portfolio even though she can’t read a stock chart, scan a spreadsheet or look at an annual report. In 1974, she started her own investment firm, Sloate Weisman Murray & Co., She also manages the Strong Value fund, which gained 13% in 2008 despite the stock market’s crash during the financial crisis.

Paying the Price
So, how did Laura succeed despite all the odds stacked against her? How is she able to beat 95% of other stock analysts and money managers who only make 10%+ return a year and lost millions in the financial crisis?

It is because she is willing to pay the price for success and to work 10 times harder than a normal person who can see.

Laura sleeps less than four hours a night. Her day starts at 3:45 a.m. The minute she gets up she “flips on” the paper. Picking up the phone, she dials a number and keys in a six-digit access code. When the call connects, she gets a line-by-line account of stories published by top national newspapers

To keep up her level of energy at fitness (she is aged 65), she starts her exercise at 5:30 a.m. she’s climbing up and down 75 flights of stairs in her Manhattan apartment building. A personal trainer arrives at 6 a.m. to spot her during her workout with weights. The fit 5-foot-6, 110-pound Sloate bench-presses 60 pounds 60 times — in three consecutive supersets. She arrives at her Park Avenue office by 8:30 a.m.

Once at her office, she spends the whole day analyzing the stock market, news and other financial data. Because she’s blind, she uses technology to feed her the information.

She listens to breaking business news that spills out of her PC’s speakers at 320 words per minute. To Check stock quotes, she hits the F3 key on her PC and punches in the symbol ‘C’. A robotic voice responds with a quote for Citigroup, her top holding: “C… Bid … 50 … Point … 5265 … End … Ask … 50 … Point … 750 … End.”

To reading e-mail, she double clicks on a message from a Wall Street analyst dissecting Citigroup’s earnings report released before the bell. The computer reads the e-mail’s content to her . He work ends only midnight, every day! That is how you become the best in the world at what you do, you must be willing to pay the price.

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17 Comments so far

  1. Investor Investment on August 12th, 2010

    yes, most of us unwilling to pay the price. We only want the prize. How to know how much price we should pay?

  2. Adam on August 12th, 2010

    YOu never know. Just work on something until you get the results you want. Research shows that you can never succeed in something UNTIL you commit 10,000 hours to doing it

  3. Jonha @ Happiness on August 20th, 2010

    She paid the price it takes to become successful and I am totally amazed with how she defied the gravity and defeated all the obstacles she has to go through! Sometimes our circumstances may not change but our attitude, optimism and determination would make the difference!

  4. Goh on August 21st, 2010

    Sometimes we just think that, why we cannot be successful in anything but seeing this article changed my perpective forever on what we (perfect being)can achieve. Even a blind person can achieve financial freedom, why not we!!

  5. tian on August 22nd, 2010

    I don’t really know what to add here but I just want to say it’s amazing, really. Thank you for sharing this

  6. Richard Chung on August 22nd, 2010

    This is really motivating consider that most of us take for granted what has been bestowed by us on our 5 senses. And the fact that we are not even appreciating and using it to the fullest make me want to work hard right now. same goes for everyone else !

  7. zakwan on August 31st, 2010

    ‘”Blindness isn’t an obstacle. It just forces you to do things differently.” woww it’s amazing…

  8. Quang_VN on September 3rd, 2010

    From the botton of my heart, I honestly thank for your stories and your thoughts, Adam.

    Hope to receive more your emails.

    A friend come from Vietnam and Taiwan.

  9. AiDz on September 6th, 2010

    Thanks for this article Adam. I totally agree, nothing beats persistence!

  10. Cynthia Jones on September 14th, 2010

    Laura is a story of success. She believed in her ability not disability. I like Laura am visually impaired, graduating with an MBA in Business Administration and Operations Managment earning a 4.0 GPA. Trying for the past 8 years to find work has been near impossible. Some minimal self-employment, however like Laura, a woman, blind and over age 55 those in the professional fields have not time or intention of hiring me.

    I just pray that I am able to raise $100,000 over the next few weeks, to purchase a turnkey food establishment earining over $500K net profits annually. Owner is tired and wants to retire after 20 years in food industry.

    I can hire my self, knowing I am not afraid of not afraid of hard work and poessess knowledge, skills and ability to succeed and after all I am a fantastic cook born and raised in the South.

    Anyone care to help? I could use support now.

  11. Corey on December 16th, 2010

    Does anyone happen to know the software she uses to get those stock quotes? I have a grandfather going blind who wants to keep up with his portfolio and I haven’t been able to find anything on my own that would fit the bill.

  12. iphone cover on April 29th, 2011

    interesting things to read about a variety of subjects, but I manage to include your blog among my reads every day because you have interesting

  13. […] Against all odds, Blind stock investor succeed by paying the price 2011/02/05By gumpThe link to the original article from can be found here. […]

  14. A on July 9th, 2011

    That is not Laura in the picture. Nor her dog.
    And yes, she is amazing and inspiring. Laura is also brilliant and EXTREMELY charitable (with her money and with her time). And worth noting, she is a great friend too. An incredible person to know and love.

  15. Taxi Service Driver on July 30th, 2011

    Thanks for this article Adam. I totally agree, nothing beats persistence!

  16. […] Laura Sloate, aged 65. When Laura was aged 6, she became blind as a result of an illness that caused her retinas […]

  17. Dr Dre Beats Turbine pro on November 5th, 2011

    keho
    good post.

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