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SB 3 uni 5 unduuiinayun 3: vnlunsasyusafudos Mama... uni 6 unGuwinamui 4: miaaquiuunnrs ‘Lillinandinuetvtonssaunylea wosovaouavnu a uni 7 unGewtinayui 5: qnoanunuiss Maar fava... 3 uni 8 unduuinayul 6: enunueanlosdalas wnanfiunumsyi 3 unt 9 unGewinamun 7 > amunumaviimansauiuen ‘Wiatiats. a uni 10 “= ~ a v mak Xe unduwinamun e : doauladeninoalnty qmanniuarls. umf 11 unduminamul 9: ‘Lifluuunrsla Wanwq... unfit 12 unGuwinawmuf 10: vilumsammuas bit eminaus. uni 13 unGuutinayun 11: ngWugtes maamn.. uni 14 unduuinamun ymMAMaBw... 2: RAATINAB MEAT; a uni 15 undewinamun 13: wWaeudosnnlinew WGuGoshushuenaimomadu....13 ansury uni 16 unGeutinasyun 14: anudeassivos AanNhAWara.... unfi 17 unGeutinasyun 15 > avfuensedosuan éawar'ls.. uni 18 Lem 90/10... coun 2 qmasinifuinasnuissinnlun 2a unfi 19 maura 90/10..... unt 20 wariuurisseinnvastinasylSaeisls..... < un 21 Uinasyurldsumsiuzas. unfi 22 Yinasyuniqum. a unyn 23 Unasyugaryaare.... unt 24 dnasyursln.... 2 un 25 Yinasyutuuan.wWesaeaouaunu 3 unt 26 yhaw (uses) ludawfisalé.. 1.284 unh 27 AqAqu Uva BDIANN.... 1.248 ~I aoun 3 amazed ragsfiafudsunsslaadisls unit 28 mananidiasas gaia... uni 29 PONIMAEN Bel... 259 3 uni 30 TITUIMINIEUAI AA... esc eeeeceeceeeeeetnneenenaeesnneee ie 278 3 unm 31 misuSswranisaaans............ 1283 a unn 32 mavanaseuu uni 33 MITANITAUNQUAE cco 1-300 d unf 34 msauuisnaaitioun...... aeun 4 ae . lasfavinasnudangama uni 35 Waavostinaspurinyaarn FE ERR RE Se See eee4 uni 36 maasieviniay a uni 37 Yinayutuuan. a unfi 38 aqnutawnesygeusolulivtauwane.... unfi 39 Wilveusaetoanavane. aoun 5 manauunududdens uni 40 Qnusiuusamauunuauundanuudavsatio?...16 uesogaouaunu donu:titumsaonuoinuiasoa nowiiuad weinwasw7 “wore bitounsduntinamur lacs” wasauy7 “agrwosuiumestinasyurtay tu AQvovidu 90/10 wanirdaulugidinaulsdung 80/20 wiondnnisausved WA asv8vimw Mawsla wisla tinesuwgmaniendoden vnaue ‘Wlufl 1997 npfinaren 80% vasarnwandamalayusinarainnsly AMNWETETNUAEN 20% vioruiudaerhngfanarsovharuseyndlélunanag douléunda Aunmadu doviadotraatling eo/10 ann Wasaudaneh autes 10% arouMTasiuds 90% vasGuvamua adroiw Unuaastodsly aamammannsdrwrn 10% vostinudaavinuarridule 90% sosvisnsnn ciuenty 10% ssuaeninfvuaninaustadenGula 90% sosvinents NQ 90/10 Srostiianlildsumaasny dawqueiviluvoswSaush Samui “athwoatuilasinamatny lu dislimwant miedo Fak masradaoioaatia fvisdiaviunenaiduduenindnnes vious auaudiudus 10% dudiwentuts 90% aostuhousene wivdadatiavebutiamulusma 10% dutmganadudraas 90% vasaruuisdovonualdaciats uarvhoeislaqardilaniaiuasin wantsunu AnenaauMahLMananduasnimomansncoiasgauAm (Securities and Exchange Commission) via n.a.. larimuaqnasi@vasyanatiiniie i. Mee x " ee et “tnasyuillsumsiuses” (Accredited Investor) ita 1. ynmaiusinuldsiatlaisiina 200.000 waury (Uszanm 9 Amun) via 2. Gudausafiinaldsauiusiafllaisiainn 300.000 wSeny (svanns 14 uum) via 3. Mugdintwdausan 1 smuwfugy (Usvane 45 Aun) dnasyufllAsumsiusosadantasyulundnndneafiagiree lathe nena Iueueitinamwiillallsiuayqgna naa. thuuadiennd Juotlostulallininamunudoutatui Lidunmetsiendralétuerande snumnnriasyuAlaisuardienadusgs usitlymide ormuetdaloma Wiinasywialuainmaamufidiqadauiuiy fdamenaiwilmanuts uunirh “athwasiumlustinasyuiiog tu" (hasemellnufifinneifatlostwinayaiatidwiy vinasnuialues ‘Udiuoygnaltanulmnannindtiauansdamoramlévinin daviu vanninsiaMMUMUULAM Eee mnuuyarassium Mosaony oual 10 &rmunviulusatavtaayu : gdeute)18 wosouaouavnu Gaaingud fadiavinamisBawianinaundusinduemadiol) 1973 Iuenntunarinda aambytimrnnaminda Ssfimnuanah molunednlaidedunalis a7 ‘bifiGu uachiininday dodwmistoadadaduerngud matuunidadaiiduowtihme adumuasutladuatuty 4 sau Tuatuins sadadududiennas “inasqufildtumsiuies" vos nas. wsinasvatuanata mou iammos. questa LitowwGomngrostin 90/10 vawinreh “fautwisovladenfentunrasuuuuense velba enailuats usemnsifisléannns 200,000 WSuqydailiivaunn 10% oq udrdudiotheufdnaenthy Thasuildumstuses taitiaunh 3% \audin soiuenavimenasmadiounistaantiaoyitosdoufentins amunosausaufifislsiuch 200,000 tury Widuulselunituden 20 Laitunasdi@uasnuawiniuudonie bifima 21973 duienevinnbifion Liddy uacbifiniwiau dona punsiaurigenusnuds AsfadtluaneiuAannadufessudin tants vavfauusirarnwarieia linaduinasyumaansnamuuuunnsae ls anviuewialuuda maasquarslallaGosidumein aradudasiiwawe Jumisdaviamursugiia variuaudimonaduiamannsiwddonenss Toulsitiosrimamendnnind dolubicnmeriidwiountonn uachinqneriienadfertuns asnumala quenmlentstoud wwneisrdiasms iqouiusinasyy fdlernagroautilonnnity Toullaicntenemadi@uitts mnenemmide waatiouans aqufesdenaiunfurmanpannminingapnnmendanan ares antiatvinnmanasyunaren audouth Ngwuaasin 90/10 was wvasnnTumuND 60/20 VIandnmisasusaEUsvanEn was Fawtla ynisla ann usidioyntstesdu wonuueriosling 90/10 winals 4ui 13 Muenun f) 1999 wisMavian inaxradanimeotia Fai unaninfiaiuayuanaiuvasmariuiiuaung 90/10 vt “fuuiiresfinssyumanemauasyulasenowild uatussat Unwimsasyultenuustimsasyufima usiamoayudsnsiy undisasyuvasaungarang vinta aintayatladrga (1997) vastin Werugenaaionaminnduliauain Barina 2aW wutdiies 43.3% estmauntadowlionnawintutiaanuluty Gslusnoul newen ayymafivadnian ou 90% vosdaututomueduseniseanns 10% Fdsawfida waAMandanlsemins 10% dhudinas 73% vasa SaSonosseinelull 1997 aduant 1983 a 5x” auduldrh fauthestemapenntuluilagin usiemsuidonety Satiunguasdu 90/10 Sedanausta Tauchude sadaninatidunuttonioneldanmaanugetudans wneludaeninenit SMavewtinfandutinasyuiienay diamenu amndhathequrs muneiiiantuadls Squratiosiumosanigouam Fubefdudin wibiulsetduamy tuMomqnatinudosmavionuh ~ioaebfouabluniamuiuiinamutiag asnsle dschmaureswafiae ~athwaauiuviuninaanutiag tue ot a H ow o shade latsazuansrsaininasyutiey ‘ta nuaaginnnamyudianaunrytd 120 rownirivhatovonailavne Aidosnmanuariay radhoiuauasuarinearttin uadusiuaaelétuei nailildaule aunivisnallAauatis -wlouienamu” Tiana aufimumariuwanuuaclidgnnevasn Futhaneutiiqmoesna vionw Fludiunaghauiviede Goutiaaesiongitys 129 usinafifiwa Xn aw « - nutohauninmganniudiasvaan wneiunduiidanuma aniaEner tiasouaouaunu usnvasnufifa -waveslidiaduentnundatauéud luenetinduan nevamraranfurtasea nadunasdmununtafioruramuviou9 vawNa wnmhderimsaaquadadslnaflutio anfnflosnnfiviatiiuasnudosau atwalds vitluviovasludtiGudatiaud Iwaneviviovaslbil vor fifa by va dnowmadugauardiGudawonnh sauiwartanldusswaenas “ns ayy" 40 Tannin aaldnuennmunuimodimauuuinnadela tay Iwiosdevimmaaanufinmouiiiiaeumadimadud watabemauna Fiuluqutuniane vn 1. naazaayuldachelslunnefnallsifigu 2. nNsuay 10.000 wey qnavunahlinamwuatils 3. amauunh innauluadominnind nayunn viayu 4. nustoadomianindiotulalalituanlavialai 5. Howiqnayhitlsls qoudasneayunawyfaule 6. maammufienadusvfalsi 7. quaernatis lafald ananouumgoueisianandesch 8, nuaearmuTunuamlaniala’ Yudhytdl eudauitinfeenmanauanniudaun nawauaenatia wdiokuliéaas wSsarndwmiadadatuda nantahamasm enna awiuchmamentld vaathdamenmaubils fwtehwisMavatientuuss tumalalianmennautimansauiuenls wiloutufiwaseldgeuseme ‘Wiuautla <0 Draw euvanun aundawadst Sowenensaananagynay ay datudoviltions aniuméavasiuldinetu usumafavioniviausennaiwh “aus ufiuuawan” “maasyuMannadeus” we ~nallaiMasnuewne wy21 und) nauyannsemulasfuarvssauwasdinded wasiufundauvsenaquar eramaninindndy Wiad Fimumdumonoinéumuacdengenutinnanan NIGANULUUAUS IE) dautrmisdaveadiosschilaliemaudniucimannstmmavtuton Usifdiqaajomanutiae Mans iiieusernGuuardoanenasieds nowhon Eufimumouassosvionwrmetinneny 12 thie muldidinlesudetbilaiin Iuluthuvo ny mndeuyndubladevin wonediwtinamyuiicw uot ensansfefifarasmsstvhauasiinfiuumanntioaviaut) vasa nnyinahuudontlstimestinvaswiarw wove lAtenaaisdoman Guwuin afte muassnunsaaly usidhasilifounuian auavhifimenuste bidmaasdiduanniilsima wasruldasmutonau Muhdufiduhunefiqatiuntsludios Hey farlifidu wate¥s ea dadrogfimatia ‘bilsGufioylutyionens Maaudaswaseel io 40 Titan namummemandimamoneh “walltwtetéutenaa funwnnés 10 wineslfathsleaw" Wonufefanloutvcsally waesreou foallittvduttia walisidutotauncan usiqafevawiamanmndatauile: suuldduaurhanudtulluumemntis 1 dali unGendasmana sosnatiatlututiaas 2-3 Tfiuda wauiladaundngnsmsamuivotaas aammnde nalldinantaauanaaudosiedumeluuaemenonlanaatagaivayntissunss Iufiqadithousumuntsfiunsodumadauansmyartor ~waanieudas maa WiluqnissouGosgsfvagutin’ wanout aflnqua 24a fousn lufiqandawonendomusinryulugatia thandaru. enafimhdsasyn{ugafia themasyudaadomtanind wu owrinuand aniiufaystia wnndosnmudiutinasyuriat enaourslutasptionan waquafiaos Tao Haranta moadiouviavngafiotaanudaasyuina tin Aasmutlucifiqnta masqunnninargunutian Snamulig lilenadifienfuptiotendnion uastinewasyuuuutinasyunudon tadumqnaiwilanstslivannts masoudasssfialundngasmiasyy” iondingarautnsiald Kdhoumeutuidledbuadstiiom annanuatinegasgstia inuaveudun lududewi Gautiludrininany voufigolulantailéaniasyu usiahamaasyuvaonoanintuis quis emaransnuthaumuetng lAFausiony 20-30 1 fuwaewanimatagstiogien ihudiudaanrge ‘Lildiihunnewanndogatis cautnlAdueuyaiaunniua “dudlenadiofieatvaueraitanndy, {Sidudiur usluehavinnatnathsassdindniubllénaeniuensiv tu widadaisaniudsiimaiow 10% wlsenafiovaunbinewdugaianay du vionmuriudrunanartls » fa fald wasnaw Wanenndnan “Miasywinnmnunandanudmsuenucaven” ‘Iuilagin nsainarladueyouazlunsinog vty Bm ee me vA 2 <. a 1, AWAITAYWLIIN XYZ Muar 5 WiEty usenulunaufinentugets 15 Wey utundumnGuld 5.000 wieymeluratbidearind 2. hivaduuardutatmrandanudone 3. naufieritlaluaqyandonuaamhauerinuns 4. nudiiulunasmudraadustwannnd 1,000,000 wiury 5. Uaaodeunfauiudinluswiens23 unui 6. Suliwafansayuiiniemuanaaes 7. ANAINWISUSEND usslundroduartiouliituduazunnaasdudrmansduntatinisas nufuanshattuvosusiazan usiveriulailaasyuachoiiu wayan “Auda Iunjbailiinasyy usidutinionitanterinwty eudoulunitendnntnd fel¥ warnnbinmgsty uaehtinardaunnandatimarnasdn” tin arquiuiatsmansonduldliimmoaiayiosuin mnamndulabai tavliviuuviodewtou uaunazasyulénosuzunuarsy au lu amefitinamuting Whifsreeiniuldadiels usctnduonuaivila Sinaspuloevialussarflungas 90% Govnaulaiving 10% wasanna a ‘ 4 a We aglafannniimeda fald wasn ea x snaatn Ae awiuvans niamuienamnennndnnga fold wasn vanmavawianuntouAqaLasauda lle 1. npn 10 Usemameninayy veaueyoh mampuMonden usiviaruuant “maamulides uslerandustaniudae tae finasmuatomiomsmuqa’ whGavdutiesyatiaémsnawuean 10 usemsrawiony Fnaninaanrnandusuaeiiantals 2. WAYS Funourosviaswtivi Moaiiduannanelunisasnuaindas umibiti@uay dunaaumtamaciunleliytauthainaywinw Fadutunowfine usidhéqynndviulestimavidesmsasyuday emule 3. Noanumsiunnsiarnchwsusinayuuiacissun ‘luniGadas waraumaugn #2 : Gud (Rich Dad's CASHFLOW Quadrant) 1191 ‘Leyotautseunnsing fiswululangsfel « ussunnfa gnats (employee) aurngsfadauds (self-employed) Wrvashanis (business owner) wastinagyu (investor)mavrionumiuayybtinnnuentithadmastions Alwnengmany mifidacianiasyunaadnasfianannntemsenndy wasinyouanan “ngmnumélsiggssaan wnediodudiummuuacdioulaumsrae thaniiesmane aadeslingmnumsuuuewsw" uardfamqnantien MUTA 10% saNINAIUAA TATION finmengaersiingmane méseunvila nanSnvientishifa rinasyuiftus 10% fimauld 90% vas erraiadafiomun wneinaspufius 10% FheasasyuuuuMufoyluseum eluiostiastitoalduuselumimams ustinasymulaurialusinasys uuueufoglutaslodosiaviniy Jul 1943 Sprnaamigausmldgoraslwimamidmiugndns ull 1986 Sqrnagotoslimamiawiuauvrysfadaud wu viva mourn wn Ty Jeans wavamuin cotufasusidmasfiamamniuridons Muscle’ fay : 4. mlasinamufiutsttonaulabinmmntomyianun uae wohuiaiuldadisls 5. fauanshosewiininasyufordutlasuiugy (fundamental inves- tor) Uarvinammufardutadumamatin (technical investor)25 una 6. lumiste wasaemougn #2: Gudea (Rich Dad's CASHFLOW Quadrant) mamatsinasyy 6 iu wisGacutiexGaen 2 seu govhy uatuisinasyundatiiy s nqucian aot Sinasyufilatumsiusas (Accredited Investor) Sinasyuhifiqoinw (Qualified Investor) sinasyganqynaia (Sophisticated Investor) Sinasyufifiioyamelu (Inside Investor) Sinasyutunan (Ultimate Investor) Tau naracuannastounnshamevinuznarnrsfininaninasyuusias nqwatiwaxiaun fadusiGwanng Sufaebisiymaastu" ule meniubildnsemind msfiGunnfuludduduwtldintoutn wmistoudiutiestad Mqndungtoumnshsseniatym 2 Usenrséo mafitulawa uarmafiGwnnifivld siaueufnenindtiyn sammfitwnnvluiiaiynlqyucl vanuy eudosdvavas vdvannGulsannnewushiwn fwnembioarnsanraiy Dynmafidwannfululs 7. YMERUWAT * Junio quexdunyhertamatuiymeosmaadulainala athsls aernGwnng ‘Whathsls uasaeYansutthymnnsid annfululéadisls wiandnintiewdyh whfadadbimusue azaauliqnnduanns usldevidntqyriniufifia aaaubiqndnn Butiiliéew athefiveneneh “avhGunne lutladhantie udaiadesiuluvionna” Miowrasnaiiamnemherunenorunass “inasyuitalulai aamovhdunnmsayy wonmoarlaifstunany usifi®unar26 Woseaouavnu Luma tsuacinwnelt nauiwinasnunawautiserls *, a Sows + rilannanelutnds usindrfmonunaaluluilsian 8. vhathilatuasyntulésnnmh 200,000 wiuryaathnelsuchamiu miamuuuuAuT waswuand “Guiluudarafavasan wine enuasnellathslathqoiornity 200.000 waunyduautann frqnmasmafhainasyuvizaw qnidossisi3u 200,000 waury udududidavdumaihainanadldfumsiuses wosdtuliiia ueimumiistuneiaurinia” 9. nou 1 vermis Moiutartwaneansmorosqnltifuuvy Sinasyufisay Senmadun mautheroswiacun Ssasteliqndia uavarante funufiqnin shmamartasiaandumdaasls wilauairt woremans Savnlinadunuehimauiidosmafieaiudaosls Goamsagyu az lef hinasywlunds 10% wansireaiminasny fala ee] ad ~, ia . = ‘ Aacheinyfiqnothoiaslumisaavatitia ATNUANGNNNANNANIENTN tinasyurialuaninasmulunda 10% warrudinyoaaot “thendesnas nullighaudus hails uaevnosstia” dlaamsmniataadl anez wutfaunnsradawnnsentiainasyulunds 10% Savnduld’ 90% uaesin asyulunga 90% firnGuld 10% ‘aildagadevimaasy usiagenaian uansinarin, 1. Unasyucruluginorn “ativdes” usiinasyufisrendides 2. tinasyushulygiyan “sasnaeawenmdus” ustinamuise AIYUULLLAWIZAaTZNS27 und) 3. tinamuvdluneenadivitiontiqa ustinamuiswsouviana 4. Thamuloutalunemancdilise usitinamuiinutheaeia 1 gia Ne Bereat Manan ff enlisuadhelssearminsae 5. tnasyulaurialuvnem usitinasyuiswatioon 6. Snamulauraluvnownin usiinamyuinurhemiouauacin ve x ‘eanntw a. yy, 4 a ANOIRVUBIDAILVSHEY Aocnéqynoansdruntisassstiia ‘Weaudanaiidiolatiensaanes qnossiutulasdudetuensavosione woseyat “mauanteift aubifaudueus finnzaudulugaadudur lnsdanimadet aefoniorna:lsunsatiis ‘wanetinasyulauviatuaen “Uaanitulirion atidus tinasyufinwAedaesuLpinusadwlavelMananadusle” vonuduniBaatih “fais 2 duvsntury" Weneyed “namie denafantanivinaylauialy sradiaiy Hovinasyulautaluuacin anyufinuarfiovfisnivanaaondslunisaayy Hinasnufisauafadauh aeinarmdusldoeials Iumnuefiinasyulaurialuaeiravanniosisls Sinawpinetiohaatamildarsls Iusnuetninasyulaeiatundsimmad: Ain Tnasyufiuthnaunaviamndy anadiaudamedtiestviniinasys fnuriaGuldmaoanar’ Glognidumistodut voliqnasenindsanatoudameansia tewhalinsayuloutatuuseainaoyuiine atwiwanuna “tnasywiinw asewinanan wieyyniniuya 2 om usiinasrplaurtabinowues domdiua Sududetriltwanenuanshaviminayutisaw” nwt 2 vos whomduiiatudontuatumtuyand mantaaoun 1_ ACUIASELUTD JAwsouno:iJuunaonu laonsogoolsurwnnosaonu nunduainduawalud 1973 tudulsnvosnailsumeunanely Usedinnafiguinlusraruthmfine sen umufiaegndshivaesg inl ununwelons ZqueaeaNn wdsarnfinallatinnanfignatinarmenasuviniuta GuuFouudy aniline tui luduarwavaandonudunn “wave” Wie Yotuvsemuamianawiunuin ‘Luddiuuiufiee ldo angnmefiiafiouae thulmaitosmn ateanastheermemnmiiesbatltuenision dle sndyduvosludindoudansunaivarinnmalaa wafiGafh..aewiwn... Jemanduuulaafiotannaneniventaiindeuauiiessdautuludl 1965 “Guditowiundutiy’ ‘Lutyouas Iuoneinahdadudn hatin watson ‘Litiantunuaetsluytesostis ungugnowary 7 Mavluden www “@tlasaufimundvanuuuasuaaauaes" “Suf@lanfioutu” samauluaneinostraludludotansatasa atMouuaanamsedurasmaynsnBAn adudaamantimenswamnanh thulid thuaasetiewann duaqmearttudualadnsatinaatumiaan dnsia Tao 3 dow flugudayloudanasehevtowielnqianlt Wanna prrnadnanaunnadinivinastiPiava rs murat uavadielyailds athena talenaulehdy Snemedubtlugadenty tadEils2 wWosoeaouavnu Tuselas ametiemlad uavonusisatinusedionnnseduaiia sudu thuludurasundaumaitiatngnluene “dls gninuvasduatovnd “da” numaumaudusidivesarluntod sadahnéns luaiavdary anasaanhy “inde” aumautuwuuunue lwonsiearideluniolun ‘Lidutugniartad valovasnaiisduavdoiuenaasuuiasamealy udaifinan sudasuowidusri lupin seindunistarusiaa iden 3 eufumautaios luaetludadluaqmeaineamawdun wiaryfiunrsmuasgniiin “yan worunauirhdesanagiaediies” awnsfiaiwiensann madacrtvawns favient uauiiouraléy wei Jurmeiuatunaiiindaiautamasiaa Twarfaded wonnesa: Thésrmawnayiilssoms anmsviiiua binuumdniugug ~. a 2x. Pan ye. ‘ gd. Soe vasanquiauuatonuenamaurn) uaa wasiafiyeiwh ~Wwiet ‘weurisaon Tutios 2 ffir nvhGuldsnnndviwartleludes 20 fusn Guin worilesy sauyatun Guémusnmnuintiqauinduenaaiy -quitawhysfewlllstueer” eammadrunnnanndanttomind Arannanemarh “gofiadann wefosdulude 747 aérlaimeudrwitinviaaierainalan a a. x » - ta + eee HMANEWANINGUYINIY] qafavansaelntugauy usinnndsariuriaty adam ‘Lidunuueutudaroudasnnamy" ~@ladauuslad wenn” naya ~youlaw usdududrmiieudenbiléwsan dhuwnegasvaswiady yon duflueyhoniwasawiay”__33__ o-lsuwiaosavnu “tulinanouunuduy dubiourndowutwwarlsarluemause fiqoludion wetrlélua nautindafudneu duniseuldnauluan sewhathuaune wdquavtuluiaufmemadoudoreneasgwantin” ‘aia: “nlda audisdtldiaerhnwanawneurg lenis garila (7) Usinawidunduvhdangiauemsuur) wantia easlawaniing tu tes aeAotwituaweclaaginf. Laduyayortuiiagiramdvynarls mgt luctoneyit nay FasayEndiunfsvoumelupwinlnsny svalmy dubiladistetion. “bifivlyson” natary “Audlem Sualafnwdsiwuas Usesunnadida Awiudefimwersidogudy ws wwwyanvarieny rugafiaanmaan daudualdoonvingratinludn 2-3 Dhanhuionia Aqyqntivarinleéwudy" Wanudanaiuensdauntuasewiw liAivAN Aoqounsntwan “Lad wniléandwia Wanilludamuarnssenian winnoduAalaa aan uaentvtonindaulionundaudiaay sautusafindusnasesiaude Gumaasaudraelaiio” sauenslal DVANNAINWAIIAY ALUN? “wNeEnnaramunuwiagie” saSunau “waufiuduldifion 3.000 wien utrafiarjuauny aamnandudluaay aayuiuwaldsionsy’ “Waazuunimamhdayudg ue vartulaiunerlienuuniviog fusale” “GEL Li paeaninattuviouaclad Gritntianumudadnas wut viaglunsoaoyud, wallioenntumwmewthénfuure yyESE Oat wWes2edouaunu aewhotnanarhmausinwaniuuarlad wasvievosaaxdsayluana Guu andunmufuenniaeian ~wanoorlafinlivfousiy aumatulutiga sale) ausunarhdeasmululesamalna 2-3 Tassnns Saflesons fhhtudy usiduforhmafiitiqadmiuune Aalnm mwnenthdnfuriow uavduasmufunaniay Vosoyxluanaduutnatontis Susidusenuas wiansenutuluimetianlamdaAulé: maui nasenvasluduadaudada gnluénviamta ~albithle wamoudatuhivewione meeifininsn snagthovia fuladsnnaan saewaahoqafia wavhomuuuunubildartaas valu Gowantnerduadhsfvaunesh naviagWavsemeathetvovandiuts whfrasgniine mautinafugliqiwouds wasnufiGuénitantiavaony usiquifioutworgbidialelinaasyudon vilaviofadusriunanin vio wawenensadlanail wolsiasn sseuvuwaniar” “Widonaiua ‘itnou “mibimetafivane vdobionn nen (au usinowdarlaq suuauuluudr” wasiewiinuiawindawadnadeuy snfioun inary’ veneyetulutiqa “usitvafiangmny wea" “fongyanuvfardu" wamanusdedauenaliaennda “wanwarhda yhéiangvanuagyaaniu" “Liana.” woyanawany ~imabivnartfiongnanudann wa mnananfiaxeuuugnnpvanalédie Toutlsidostudustuniaaagniomms tau" “yacfiduonemauinasgnngmany un@awuanhiiuasfianganut rnuasqunUTy” ‘Ludwyaren35 e:lsdrwfinosavnu “Subifianguanudwat Luduacvioviavaludetimacyuoy uvitiuey Hongwnudwiuise” wanuweenayadg “yinkuniy" mam cwsrewmabisae” Ladyoduann ~Aatimasyuartiudumsasyy lamausiuvinin’ snyotostuMlowlannadids wnehundhaawta Fqoroses wyiumadnnlafanynodhotutuna uaetostinnewee Yoatianatiqa usitufvithetelanswnfiouionin sagdntsensuan shomapuenaGuatiannienin luaueviviovasluduarnanasnauaa srantlaifierinaunfiontn ‘Liduaewaveamiauanniunaut sina uaewarasnudsnsaginiants nafainldntiundslugjfiomannennaiids sislnaarnasannanumBanoniy nantananan fiat auaendinniarhasen ant Bannan ‘adtiunaary 25 Dwintiw Wilaieugemsduuda aelulnandails 25 0 douviasdoq wasnafignisoansinnams wasn doundaduanguimouary 520 daunatisbiladutwaudauh ~iwarlsluvio” wasaumaadijawia “bifmacleiu" wamauuarnenumadwanqanariatanuyan aularulsaszovasdiasuarazouady “nauedinarlawaug uaseun Frais” Foranagluensnieu Iusufintadusndutaenarhanesaaniwy fiotnanlutin ‘lid Wor uacuvoditu Iwuneiinamennante vontuenanaia “apihanammufunouacludbildimnenallsina’ wamatdlufiqa “uae frasaauuutiuths sufsedhumarnfangnanelalmunsu? wornuarladwinwtn “warenoudila adyouetas ~uddleadioungysnutisentr” “guna” ladnau36 wesdeaouaunu “nag.” Wasiieain “NAM. waantu naa. iular “Nae. dansnauensmsmiundnninduacamenine” ware baa iz x, fou “dtulusad 1930 InunviGanaslan vawua Wavavodinusymn- Bua vavu iow. wauuar* aM awd, ee ~ynbadadasta nam. Tandauedy’ vionuiany “fviaquersasulunmesinennausioagnaumn wiovttimdnnindioniey uaemaniinibidussaluame “vavanenbiniu™ wuman sufludasiigndasudallivianty” ‘Ad Dudosftinnaude” warwnouudustanednion “iow aefinnraandmosnaraulull 1929 dinunaonarafanulaunanenan rind tanec eiDowutoyanioy wavautiudafiniads naa. Susniia asAinathfugua sramroanuseaioailinginawishon nas. dumumdndy ain bit NAA. amansaesiusienaiuau" “wdawavhinemluaty” andemasialy “Te Naw. wennuunianinamywanmamuuin ueluonedien fufdumaflarainamusnmiamundanniucae” wavwnaudedeon “sty 2, letevina “th na. ‘ailvtinasyuamuuvuviutisanuardiann udarinasnu awanquarlaléinedety" “naasyuArnunrandunsasuaausa niamuniullmainnein naa, Thnua” rendinvindveslmuditulad w.0. 2535 Tnuilinquares aaudueresgasyuarnnne’ Mau ae37 e:lsurvAnasaunu ~udamavnarhiiubidinss wand” Triwaniniuensiana ndosingrdenuantdulingunmueman Yu uac nan. fivnwhai “uta wativimesenty wufSnvieducey usnsiwiarhndofina:ls ay Wafavanzaanay” swouanaliudals view: nam. Untlasinasyuanmsasnuh ud udafflorhtinasywrinmiayunanninsiouty” e 4 = x =. . 1 Friduonquantisin Mewudsnutulén’ wumaathsbiavens ween ~wariilaudade Wavarnefivnesdugaan maviemannasqufinne mannne uiwnembine undsbinsnsnasnuludsteen bine eunuwiddsaransnasyuuuueaniels uavtufvh Meuse voila” “air ufadasiingantdeaty AliwWauntasauwiAuautunan anaunenowar swlenwsan duwsesoanintlosauautueutunanbtagvae) vin wannasshamn” Ludmau ~ynladoynarhoiin’ ama ~wawfinsasnufidiney funasyuabis thew fevuunlsi aan mnatrewiaufunaa Wusuddororduenaszuaciszaumaniive: uunoarrimanaquadislmudl adaslwulsia dymudaulugidislisienaquar astaumsoiwantin" WavrwWYyN “Lidlunduanarafiertiumaasyuchqat tnithdagtivagana” ‘tau llwtasnom udafoutamumnbsann 2 fa Sadaludow Tamiuanwimw diay uacueucionr ving38 wWesoeaouaunu “uttdhacwmesdafinrdaqarnaamuane” ‘bidwalavmevirinda a, = oe Mee ve « a thar “Guntwanvindibildemnedion wnenstunsifidunitoyausenau maauanendnnindlursdiin anfandulusned ladwannssensudauaaslinagnaw unde uarioenamudnnanauununaanadusanniamyy avfanesluoush AsluMianewuannqnatimAantdulemaieariasyy wonmiuinarhdawaaniuluiuieyannanefinabiquanrion wa Sanliladnya udauani “qasia” vanetlifdamhdng dumiyeswiefataduwh “founciuenn ngvanenannswel) 1933" “Tulludefviaaunn inaritle” wanya amaudalitionthviadudhainustiniat lig tuludowh “msn darwtutinasnud létunrsiusasmaunnisinas naa. wintiae nmoundefatiaudayon “ddumqnafimuyat aliases qufumnald wnensasyuiil Sdwiueuewinu” “vansininnindiwnawantuds wwardioslsGuaoyutuch 35.000 wiurydionwaemsasyu" "35,000 egy” anoubnens “Sududuiwasain udafidusann Fiovamuuysd snemuanarh 35,000 wiuguiuduiuddintunrsasny wantin?” wanundnmh “udasalddumouwlstunraiwiniuusyswrin- lefu" “unldGuussanndiar 12.000 wey uddfisiGuiiewenmsiuuasns diaglussenadvmnadn usvdovnusdfignainluomauds waits wiioutiunalaGutoumils nnarserldduennsostw usibiuvleivewa elisrunosma iioviernelnUses atte e:lsurwfinasaunu “uaovinsoiuduldiienn Gusis 3.000 wituifleu 25% vornelé wauue” wornumemnalimdolann namdinnthduug warsfehmadavistnasnnainmady “nasi ‘VSumsiusae anfitoutrasaniiumewarsedsiuvinlety ssinem Guldbinofianin sinamyuillétumsiusas” nseviovsessuaanig aumfonraidudoulinatialéidu ~inamutléiumaiuses” won umntumarauagriownsa Funamrmndslas nanny 3,000 wieqrasaantmamuday ude muon latuonndadaualn Aviaries usivialaimad sarin svitky vitllainanine “poitiupunnngimeguds wodhlésnnnd vnesuildsumasy sox Musadasms isaarasiiu wdnasyuderyanra (sophisticated investor)’ uaasoflavsaenfuniialiasin’ “inawyufilétumsiusastuiinamywdenyamadiatudsletu” wa muadwiananta suena” laudyoniontiudas wnedadanatnadauiuues athouka “inayuilSumaiusosdhmaunnsinasypawm ens athuauriilamvisadutinasmudnyame” vioatine “udasindrasutsleds” pam “paliumarriniumifaravivionuiniaua uaiuernsaadga fmoyulunawamniony” auwdnwh “watnudaasy wanainasidedunawarudr unde dondumsdoundsannylaifiawnmiamaiuliasawiniae"vionuetiiude “thutudrachsvaninautlétumaiuaes ueilsllés dutinasmudorqaain Ssftdunquaiwibundslstuneutvinuldieo: vik wae mayan tnfowaninivhfon iw doududulurumannat ING wonmndidu ustlisienay faut bifresedurnlssnayu aths ls unantuuadlananouunuger wnmnnostinamuynathonsion fu Tneusnbisondusemlyua useunnlyel “udrrinayudryamomnuanandshety wxmn “tinammufienawiaannadass 3-E" °3-E vanuiiva: ise" : tH pay * wanenandhundonasnemuciunastuuridionausenountiauanie wdnndndluasiiia udadean 1. msfinisa (Education) 2, usetunrant (Experience) 3. Guia (Excessive Cash) “thinadivia 3 ati iaauiiluinasyudinqama” waya maadiWanudumudryah “uaarhomentusiGunda wells 2 ashwuan” wowdinwh “uaridimmuauniinisanind usmnousvaumisol way aufllaifisraunisnistes lusiasinelicousiGumfa” “DAITWENUINDTINY MuWontiuMALWOT “Aud ys¥iedeq Uda ‘Lifaimuanny neyo wemneisounsingah anf luast Sufiuviovn usimnAbivnluaeimuandy ~yneadwatias wemneieuiudsbisidumdo” sanyo wanruuarludndinanth_Al e:lsurvfnasaonu YasfinnarluansGeuinatss maamutisAndaFasodiass was ‘Warrliiamun luonefladauialuiiu naisnananaasluievies neaathianasamaamaudanash uavAadsfnluanan AaeGunauAMTinnduadieAwauinysly uarthdsrennantnn mons wnddasemexandunntanangadmiueaas “parnAsfinarliag” wasaumaudaumun “narhSetornmoutnalotudlnguds waearsvrarlsa” wamau “wutoarlslithsde” ‘Luca “Surhdefian Suaennaniwinayudnyamn ‘bidvvewanuts akfim mina ~fumadanha woliiugmeragémmsiunodans Foviuiu maaaduad siawnilluadaaamuseaunrsnide” “udansarg lAslehandivopMenaziausyaunrnnnwaudy” ras ma “SianaiiGumao” wan inmnwautinedantadaunutamurtuenty “GalituGuiinda lo” woriwunuta yor “Aallitutinasmdimyana” “dwiuvinaudinyamauaciufmdawla” wayodluladeuy fu ds watingaucwanduda eutuindydunosladandonaiguin saundulufidourinnmslysy warstioiasarlsmutinvinds waladudlunuds walldvnmavvous Aalald Gunwuantnndy tin@lunassasa aauifaaninuias eduloiaemarlwioliatos miGuuviofaeidwinasyudmyamaA2 wesovaouaunu frbaulelaitien nadhiszaumanianntuucendenfianteuysuwarwuyes nNansOU amiiivionumansnazuuninavarhadingtdude 20 Usiaan useanndl 1993 aanifuawanefignuisligng nam uaclifanan dou mummawaswahGulsluin 100 Tanne luddunangafianasvia Thunaveenuarnindndauuacgafero mie Mepauluin tdlugafio Fiaathstuangud naiumausigsfatidariatrtuuasnsludans naan tsFinwasny Tounthiiaumoimirarlgiaaue 10 Slumsataioaireda usar cthateq wunduloattuts 20 1 aaatudaatucyatin Guéwusnn ennyiga” Wioxasdounauluda manGuntisdrantuyiAbilenndlerin 4 mnnnnivle nrfududiiuaclisuinembituqnell athslafima Iwfiqneuifionansningundiaestull 1994 nounry 47 1 Tneflaifinti@uua: AGuannwavaelfinad quan Sufista mangumanoublddiuerlsfndudiutinnsan Asfina Aufiedog AanrsitluviqnudanallAahradatansunaerionadenwensnsnh avarmuuuuluduarwaniw..asquuuutinammudenuamelsa: wnaastiaw ndulu dostaiviufladuarwasevanne sallinuwatavasyuuuy wananiuidugarinnlutiovesna wnediuiwinudthwnetonase: iihainasyudginyamalnls shothsvoumsamuiinasyuAldumaiusowuacinayudnyamn aayules Lohanast e:lsdavfingsavnu 1 ndnndndnauanusioynnalursdiia (Private placement) 2. gsftetanasyuluadomtaniwd 3 Yuriowronsidunlunmanadnniwes (Pre IPOs) 4. Huhiamanusiousemmuduatauin (umoufiituds eautieen Frinasnuvaluartarudonanta) we ay. s. naslviurignwiigusas (Sub-prime financing) to 6. 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