Millionaire Cash Machines: How a Scottish Banker Led the Way

Until the past few weeks, you’ve probably never heard of the millionaire’s “Secret Stock Market.”

It’s worth noting that while this may seem new, it’s actually been around for 144 years.

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Back in the year 1873, a man from Dundee, Scotland, named Robert Fleming unintentionally created the first of these cash machines.

That’s when he founded the Scottish American Investment Co.

A Cutting-Edge Investment

It’s hard to imagine.  But at the time, the American railroads were a booming industry. Think of this development as the equivalent of self-driving cars or virtual reality today. Average folks were dying to grab a piece of the action.

Fleming realized that most Britons  ̶  including the wealthy  ̶  would have trouble investing in American railroad bonds. After all, there was a huge ocean separating them from the U.S. banks that typically were involved with the sale of these securities.

Seeing an opportunity, Fleming created a solution. His firm would act as an intermediary. Investors could invest directly with his Scottish American Investment Co. And by doing so, they’d grab a stake in the previously elusive American railroad bonds.

Fleming played a central role in the U.S. railroad industry, battling robber baron Jay Gould for control of the Erie Railroad and the Texas & Pacific Railway. Today, Erie has been absorbed by Norfolk Sothern (NYSE: NSC) and Texas & Pacific is part of Union Pacific (NYSE: UNP).

The offering was simple: It allowed just about every investor access to deals that were previously off-limits. In addition to offering easy access to new opportunities, these investments had three attractive benefits:

1) They often traded at a DISCOUNT to their true asset value.

2) They paid yields that were much bigger than other income opportunities.

3) They offered considerable capital gains potential.

Investors did well, and Fleming’s business boomed. By the year 2000, Chase Manhattan bought the entire business for $7 billion. The operations have since been absorbed into what is now JP Morgan (NYSE: JPM).

Starting in 1890s, these same income investments started showing up in the U.S., offering the same benefits for investors.

Millionaire Cash Machines Fade From View

Unfortunately, recent decades these millionaire cash machines have taken a back seat to other popular investments.

Specifically, open-ended mutual funds have become the cornerstone of the entire retirement industry in the U.S. In fact, they account for a full 86.7% of U.S. investments under management, according to the Investment Company Institute 2016 Fact Book. Meanwhile, newer exchange-traded funds (ETFs) capture another 11.6% of assets.

With such a heavy concentration of assets in mutual funds and ETFs, most investors are overlooking these millionaire cash machines.

If you’re interested in 1) buying amazing investments at a huge discount, and 2) boosting your income by 2x, 5x or even 10x, then you have to look into these millionaire cash machines.

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Published by Wyatt Investment Research at