Spectacular wealth through simple investing

Some time ago, I came across the fascinating story of Ronald Read, an American janitor and gas station attendant who, when he passed away in 2014, left behind an $8 million fortune. What is truly remarkable is that he built this wealth while working jobs that never paid him more than a modest salary. The striking thing is that Read's story isn't about some magical investment strategy or discovering the next big thing. Instead, it's about the fundamentals of investing I've written about in this column for years - with an extraordinary demonstration of their power. Suggested read: The futility of market timing Working at a gas station for 25 years and then as a janitor at JCPenney for another 17, Read invested consistently in what he understood. He focused on dividend-paying blue-chip companies - household names like Johnson & Johnson, CVS Health, and Procter & Gamble. He avoided trendy tech stocks and anything he couldn't comprehend. When he died, his portfolio included 95 stocks across industries like healthcare, telecommunications, utilities, and consumer goods. To me, what's particularly striking about Read's approach is how it aligns with what I wrote about just three months ago - the power of doing nothing. He was the epitome of the patient investor. His stock certificates reached five inches high in his bank locker when stacked up. These weren't frequently traded positions; they were long-term holdings