A quote from Palisades website Dr. Thomas Kaplan is recognized for a few notable items. For one, he is the largest private collector of Rembrandt. He is also the world’s best known big cat conservationist via his non-profit Panthera. And fueling these hobbies and initiatives, Dr. Kaplan is a highly successful resource investor, which has propelled him into the ranks of billionaire status.
Dr. Kaplan’s website states his business thesis as follows: “the enthusiastic and determined pursuit of extraordinary assets to express his conviction about a specific, often out-of-favor commodity.”
Billionaire investor Tom Kaplan. In that vein, several years ago, Dr. Kaplan made an important statement that has stuck with me to this day, and in fact, we have it prominently quoted on our website – “People think production is how you make money, it is not, it is selling something at a high price, that is how you make money.”
Implied but not expressly stated in this bit of wisdom is an important point – that in order to sell something at an elevated price and book a handsome profit, one must act with foresight and buy inexpensively when others are not so keen.