Looking at Terrorism Better than a Billionaire on Five Dollars Extra a Day

Good morning, Live Better than a Billionaire-a-Holics!

Are you feeling motivated this morning? I certainly hope so.

If you are like me, your thoughts and prayers are with those who were killed and injured in London yesterday . . . and those who loved and love them. May God bless them all.

That horrible event made me think about what I know about how billionaires deal with terrorism. Wealthy people have always been vulnerable to kidnappers. During the 1970s in Italy, it wasn't unusual for a wealthy person to have several bodyguards, to have a chauffeur who was trained in evasive driving and to be trained in using an automatic weapon. And kidnappings were frequent . . . and bloody.

Today, many celebrities and wealthy people fear the press and press photographers even more. They arrange to have their garbage specially dispatched so that no one will be pawing through it. Someone plans their entrances and exits so that no one will see them coming or going . . . or so they hope.

While I have never spoken with a billionaire about terrorists, I do know a little about how high profile company executives deal with the issue of political kidnappings. They have substantial security that isn't obvious to the outside world. They also have plans and policies for how to deal with an incident. Their company has prepared for such an event and everyone knows what to do. In very risky countries, special precautions are taken.

I was struck by this when I visited Electronic Data Systems in Dallas during the late 1970s. We had been invited to meet all the executives to discuss a possible assignment. The legendary H. Ross Perot (later a billionaire and presidential candidate) was the man we most hoped to meet. At the last minute, he wasn't available. We were disappointed. Later I read about the successful effort by EDS to rescue its employees from Iran and learned that Mr. Perot was working nonstop on that problem while I was in his office. It's a sobering thought.

As a non-billionaire, you have one big advantage when it comes to avoiding kidnappers and terrorists. Neither one is probably interested in harming you. A kidnapper wants money (or headlines if politics is involved) and terrorists want to frighten everyone.

As an intelligent person, you have another big advantage. The chances of being harmed by a terrorist are quite low, similar to the risk of having an extremely rare genetic disease. You probably don't worry about such diseases unless someone in your family has such a disease, and you wonder if you too carry that gene.

Naturally, you can increase that risk . . . becoming a security guard in Jerusalem or a member of the Armed Forces in Iraq are two obvious ways. But if you live your own quiet life, terrorism is essentially irrelevant . . . unless you choose to waste time worrying.

Now, I know that view won't be popular with some. There's a lot of money to be made in making people feel more secure about terrorists. And there are terrorists out there. But, the subject doesn't deserve any of your attention other than praying for those who suffer at the hands and explosives of terrorists.

I was struck by this a few years ago when I was in Paris with my family. Terrorist explosions were occurring almost every week. A large explosion occurred about 10 blocks from where our hotel was . . . and we never knew it happened . . . until we read about it in the newspaper the next day. Some would see that as a near-miss . . . but to us it felt like no threat. We didn't change a thing we did and greatly enjoyed our vacation.

I've traveled to "high risk" areas during terrorists alerts and have found these to be the best times and places to travel. Security is excellent. Planes are empty. And you can see all of the sights without crowds to bother you. Discounts are enormous . . . and people are friendly. So fear of terrorism can be an advantage for you.

You see this kind of opportunity especially in investing. If a serious terrorist attack occurs in a country where such things haven't happened before, the stock market will plunge. But a year later, the stock market will be back to normal. If you buy the day after the event, chances are you will make an above-average return on your investments. And you will be fighting the terrorists in a practical way by expressing confidence that all will soon be back to normal except for those poor souls who have been harmed and their families and friends. Then, take some of those profits and share them with those who are harmed by terrorists!

Donald W. Mitchell, Your Dream Concierge

Copyright 2005 Donald W. Mitchell