What must you invest in to make money?

By Carel Nolte

One of the best things about social media is that it connects you with people you might never have met otherwise. That’s how I got to know Yaakov Goldfein. He engaged with something I posted a few years ago and then sent us a sharp analysis of Purple Group and EasyEquities — the kind of smart, no-nonsense thinking I love. We became friends because here’s the thing: I like smart people but I love smart people who are kind, generous and want to make the world better.

Yaakov is exactly that kind of person. His wife Raelene is too. Their wedding last year was a reminder that Jewish weddings are not for the faint-hearted. Jewish wedding dancing and whiskey — seriously more dangerous than blood sports. But also, more joyful than just about anything else.

Speaking of whiskey — Yaakov knows a lot about it and I’ll be taking some of what I’ve learned from him with me to Scotland next week. Expect a future blog on that because I think the whiskey industry has a lot to teach us about tradition, community and innovation.

But back to investing.

I asked Yaakov recently why he chose to invest in Kore Potash — a company with a weird name if you ask me — but one that the Financial Mail this week (in the edition with EasyEquities and Purple on the cover #justsaying) says is a stock to watch. His answer gave me some brilliant investing lessons. Some you’ll find familiar. Some might just shift your thinking. All are useful.

Here’s what I took away from it:

1. Look Where Others Aren’t
Yaakov found Kore Potash almost by accident. There was no analyst research, no hype, no popular coverage. Only after the share price had already jumped 250% did the noise start. His point: you find hidden gems by looking where others aren’t.

And that’s not just good investing advice. That’s life advice too. If you only ever make friends with the obvious people in your circle, you miss the magic. Some of the best people who’ve changed my life started out as the “unimportant” ones.

2. Read Narrowly and Widely
Yaakov read old company reports and studied the whole potash industry. He didn’t just go deep or wide — he did both. That’s something I still struggle with — the tension between breadth and depth — but it’s a skill worth working on.

Good investing, like good living, needs you to zoom in and zoom out.

3. Start Simple and Get Some Skin in the Game
Yaakov’s first move was simple. He figured out the Kola Project could generate $500M in free cash flow eventually and with a market cap of $30M the upside was huge, even if the risks were real. So he bought a small stake.

You don’t have to bet the farm to learn. You start small. You build. And yes — the best place to take those first small stakes is EasyEquities. Obviously.

4. Build Conviction
Owning shares isn’t passive. As Yaakov kept researching and staying close to the company, his conviction grew. He felt more confident to add to his position over time even though Kore Potash was a risky little junior miner.

And here’s a reminder: as a shareholder you have rights. You’re not just a passenger. You can (and should) engage with your investments. It makes it more meaningful and way more fun.

5. Follow Your Plan and Manage Your Psychology
Over two years, Kore Potash swung wildly — from 10c to 30c and back again. Yaakov had moments where he doubted himself and moments where he nearly chased the highs. But he stuck (mostly) to his plan. He didn’t always get it perfect but he stayed in the game.

Managing your psychology is half the work. Maybe more. This is true whether you’re investing, starting a company, running a marathon or building a life you’re proud of.

Yaakov’s approach reminds me why I value our friendship. Not just because he’s smart, but because he’s honest and brave and keeps showing up.

The truth is, investing — like life — isn’t about perfection. It’s about attention and intention. Stay curious. Start small. Build conviction. Manage your emotions. Repeat.

Thanks Yaakov — for the tips and the friendship.

(And if anyone needs me next week, I’ll be somewhere in Scotland pretending I know what I’m talking about when it comes to whiskey.)

PS — Yaakov and I are invested in Purple and Kore Potash. This blog is not investment advice. But I hope that the life advice will help your investment decisions!