There are about 724 billionaires in the U.S., according to Forbes, and more than 2,700 globally. They come from various backgrounds and made their fortunes in various ways. But when you look at their attitudes and behaviors as a whole, there are some traits many of them have in common.

While few of us will ever become billionaires, it may be helpful to know what some of those common traits are to prepare for our own journey to success and financial independence. Here are three key things that billionaires do that many of us don't, in the words of the billionaires themselves.

1. They're frugal

"Do not save what is left after spending, but spend what is left after saving," Berkshire Hathaway Chairman and Chief Executive Officer Warren Buffett once said. This quote encapsulates a mindset that helped Buffett become one of the world's richest men. You've heard the stories -- Buffett eats at McDonald's, lives in the same house he bought in Omaha in 1958 for $31,500, buys used cars, and used a cheap flip phone until a couple of years ago.

But these are habits that allowed him to save more and invest more, which drove his wealth. He's not alone among frugal billionaires. Microsoft co-founder Bill Gates, who admitted a few years ago to wearing a $10 watch, said his frugal habits were ingrained in him as a young man. "My 20-year-old self is so disgusted with my current self. You know, I was sure I would never fly anything but coach and you know, now I have a plane," Gates said a couple of years ago, reflecting upon the frugality that made him what he is today.

And Jeff Bezos, founder, former CEO, and executive chair at Amazon, said frugality, for him, was the mother of innovation. "I think frugality drives innovation, just like other constraints do. One of the only ways to get out of a tight box is to invent your way out."

2. They think big

"Life can be so much broader, once you discover one simple fact, and that is that everything around you that you call 'life' was made up by people who were no smarter than you. And you can change it, you can influence it, you can build your own things that other people can use. Once you learn that, you'll never be the same again," said the late Steve Jobs, founder of Apple.

Jobs lived this, changing the world with his innovations at Apple. Now, this doesn't mean we have to go out and invent the next world-changing technology, but experts say that most billionaires think big and aren't deterred in their endeavors by perceived constraints, whether that's their education level or something else. Obviously, a lot of hard work and strategic thinking goes into being successful in any venture, but it all starts with having that positive mindset and thinking big, as Jobs described.

Or, as Henry Ford, founder of automaker Ford once said, "If you think you can do a thing or think you can't do a thing, you're right."

3. They're not afraid to fail

"My dad encouraged us to fail. Growing up, he would ask us what we failed at that week. If we didn't have something, he would be disappointed. It changed my mindset at an early age that failure is not the outcome, failure is not trying. Don't be afraid to fail," said Sara Blakely, founder of hosiery and women's underwear brand Spanx, who, in 2012, became the world's youngest, self-made female billionaire.

This philosophy, ingrained in her at a young age, constantly pushed her out of her comfort zone to take on new challenges and risks. Many people avoid actions or activities for fear of failure, but Blakely said that not being afraid to "fail" allowed her the freedom to constantly try new things until she hit on that billion-dollar idea. It helped her avoid the true failure of not trying.

One thing you have in common with billionaires

These are just a few common traits but, certainly, much more goes into becoming wealthy and successful. But it's really not about becoming a billionaire -- it's about being successful in however you define success. Many billionaires say they weren't motivated by money, but rather it was an outgrowth of their passion and purpose.

As for the one thing we all have in common, Richard Branson, founder of Virgin Galactic, among other ventures, said it best: "One thing is certain in business, you and everyone around you will make mistakes." But it is from those mistakes, whether it is in business or investing, that you learn, adapt, and create new opportunities for success.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post 3 differences between you and billionaires, and 1 thing you have in common appeared first on The Motley Fool Australia.

CommSec is one of the most widely used brokers in Australia. Because of this, this data can give us a valuable window into the US shares that ASX investors are finding enticing. So here are the top 10 US shares that CommSec-ers were buying and selling last week. This week's data covers 12-16 July.

Nothing can keep GameStop down

1. GameStop Corp. (NYSE: GME) – representing 3.3% of total trades with an 89%/11% buy-to-sell ratio.
2. Apple Inc (NASDAQ: AAPL) – representing 3.2% of total trades with a 72%/28% buy-to-sell ratio.
3. Tesla Inc (NASDAQ: TSLA) – representing 2.9% of total trades with a 61%/39% buy-to-sell ratio.
4. AMC Entertainment Holdings Inc (NYSE: AMC) – representing 2.5% of total trades with a 65%/35% buy-to-sell ratio.
5. Virgin Galactic Holdings Inc (NYSE: SPCE) – representing 1.6% of total trades with a 49%/51% buy-to-sell ratio.
6. NVIDIA Corporation (NASDAQ: NVDA)
7. Microsoft Corporation (NASDAQ: MSFT)
8. Amazon.com, Inc. (NASDAQ: AMZN)
9. Nio Inc. (NYSE: NIO)
10. Alibaba Group Holding Ltd (NYSE: BABA)

What can we learn from these trades?

That the meme is strong for one. Yes, 'meme stock' king GameStop is back at the top of this pile, displacing the giant Apple as well as perennial ASX favourite Tesla. Even more interestingly, 89% of GameStop trades last week were in the 'buy' column.

This coincides with GameStop shares hitting their lowest level since May recently. Clearly, there are more than a few investors hoping for another one of those lucrative 'pops'.

We see a less-enthusiastic commitment to other meme stocks like AMC, Nio and Virgin Galactic. Although, in saying that, Virgin Galactic investors appear to be more inclined to bail out than buy more, with 51% of trades in the 'sell' column.

Ever since Sir Richard's successful space flight earlier this month, investors have been stampeding to the exits. Since 8 July (3 days before the flight), Virgin Galactic shares have lost more than 38% of their value. Imagine what would have happened if it wasn't a successful flight!

We still see bubbling affection for the US big tech blue chips like Apple, Amazon and Microsoft. Apple in particular maintains a dominant position in this week's numbers, even pipping Tesla with its 72% 'buy' bias.

This week's report also marks the return of chipmaker NVIDIA after a few weeks' absence. NVIDIA has been on an exceptional run lately, rising roughly 50% between 13 May and 6 July. That's a pretty significant move from what is now a company with a market capitalisation of US$468 billion.

The post ASX investors were buying GameStop (NYSE:GME) shares last week appeared first on The Motley Fool Australia.

Since CommSec is one of the most widely used brokers in Australia, this information can give us an interesting window into what ASX investors are finding exciting over in the USA right now. My Fool colleague James has already taken a look at CommSec's most popular ASX shares today. But here are the top 10 US shares that CommSec users were trading last week. This week's data covers 5-9 July.

Tesla in the driving seat, but Apple looking sweet

1. Tesla Inc (NASDAQ: TSLA) – representing 3.5% of total trades with a 67%/33% buy-to-sell ratio.
2. Apple Inc (NASDAQ: AAPL) – representing 2.8% of total trades with a 55%/45% buy-to-sell ratio.
3. GameStop Corp. (NYSE: GME) – representing 2.6% of total trades with a 93%/7% buy-to-sell ratio.
4. Alibaba Group Holding Ltd (NYSE: BABA) – representing 2% of total trades with a 79%/21% buy-to-sell ratio.
5. AMC Entertainment Holdings Inc (NYSE: AMC) – representing 2% of total trades with a 66%/44% buy-to-sell ratio.
6. Microsoft Corporation (NASDAQ: MSFT)
7. Amazon.com, Inc. (NASDAQ: AMZN)
8. Nio Inc. (NYSE: NIO)
9. Virgin Galactic Holdings Inc (NYSE: SPCE)
10. Alphabet Inc Class C (NASDAQ: GOOG)

What can we learn from these trades?

That old habits die hard. Last week, we saw Nasdaq newcomer DiDi Global Inc (NYSE: DIDI) make an appearance here after its recent IPO.

Well, this week, we saw the old favourites of ASX investors reclaim their dominance. Electric vehicle and battery manufacturer Tesla is back on top, with investors going from a pretty even buy/sell split last week to decidedly biased towards the buy side this week. That coincides neatly with an 11% increase in the Tesla share price over the past month.

Apple also climbs from 5th spot last week to number 2 this week. Unlike Tesla though, investors are still pretty split down the middle when it comes to buying and selling.

In other news, we see many of the same faces returning. 'Meme stocks' like Nio, AMC and GameStop remain popular, as do the US tech blue chips like Apple, Microsoft and Alibaba (which is actually a Chinese company, but US listed). In that vein, we also see the return of Amazon and Google-parent Alphabet after a few weeks' absence.

It's interesting to note that Virgin Galactic retains its presence after several weeks of obscurity prior to last week. Perhaps Sir Richard Branson's well-publicised space flight the other day has inspired some investors.

The post ASX investors were buying Tesla and Apple shares last week appeared first on The Motley Fool Australia.

CommSec is one of the most popular ASX brokers in the country. As such, its data can give us a valuable window into the minds of ASX investors. My Fool colleague James has already taken a look at CommSec's most popular ASX shares today. So here are the top 10 international shares that CommSec-ers were trading last week. This week's data covers June 28 – July 2.

Tesla still the one, but DiDi IPO excites

1. Tesla Inc (NASDAQ: TSLA) – representing 3.6% of total trades with a 51%/49% buy-to-sell ratio.
2. GameStop Corp. (NYSE: GME) – representing 2.6% of total trades with an 87%/13% buy-to-sell ratio.
3. Nio Inc. (NYSE: NIO) – representing 2.1% of total trades with a 57%/43% buy-to-sell ratio.
4. AMC Entertainment Holdings Inc (NYSE: AMC) – representing 2.1% of total trades with a 70%/30% buy-to-sell ratio.
5. Apple Inc (NASDAQ: AAPL) – representing 1.9% of total trades with a 51%/49% buy-to-sell ratio.
6. DiDi Global Inc (NYSE: DIDI)
7. Microsoft Corporation (NASDAQ: MSFT)
8. Virgin Galactic Holdings Inc (NYSE: SPCE)
9. Alibaba Group Holding Ltd (NYSE: BABA)
10. Palantir Technologies Inc (NYSE: PLTR)

What can we learn from these trades?

Mostly that Aussie investors can't get enough of the high flying US shares at the moment. Of these 10 companies, only three (Apple, Alibaba and Microsoft) don't fall into the category of 'high-octane growth shares'. And even Alibaba toes that line somewhat. Yes, the top three companies, as well as the remaining four, can arguably still be in the growth/speculative pigeonhole. But we have two companies here that haven't seen this list for a while. The first is Virgin Galactic. Investors have been very excited in the past over this company's plans to commercialise space travel. However, this company had recently fallen out of favour, and was down roughly 70% between February and May this year. That was until Virgin Galactic rocketed 245% between 14 May and 25 June. A new planned space flight, this one involving Virgin founder Sir Richard Branson, appears to be the catalyst here.

In the case of Chinese ridesharing company DiDi, well, it IPOed last week, joining the US markets for the first time. Clearly, ASX investors are keen to put their money where their rear ends might be at the end of a big night out with this one. That's despite the fact that DiDi's IPO hasn't exactly resulted in a lot of financial success so far.

The post ASX investors were buying DiDi and Virgin Galactic shares last week appeared first on The Motley Fool Australia.

Since CommSec is one of the most popular share trading platforms on the ASX, this data provides some useful insights into what is piquing the wallets of ASX investors beyond our shores.

My Fool colleague James Mickleboro has already covered some of the ASX's most popular shares today. So here are the top 10 US shares that CommSec users were buying and selling last week. This week's data covers 24-28 May.

Move over Tesla, AMC's in town

1. AMC Entertainment Holdings Inc (NYSE: AMC) – representing 6.2% of total trades with a 58%/42% buy-to-sell ratio.
2. GameStop Corp. (NYSE: GME) – representing 5.2% of total trades with a 77%/23% buy-to-sell ratio.
3. Tesla Inc (NASDAQ: TSLA) – representing 4.6% of total trades with a 66%/34% buy-to-sell ratio.
4. Apple Inc (NASDAQ: AAPL) – representing 2.6% of total trades with a 66%/34% buy-to-sell ratio.
5. Nio Inc – ADR (NYSE: NIO) – representing 1.3% of total trades with a 70%/30% buy-to-sell ratio.
6. Palantir Technologies Inc (NYSE: PLTR) 
7. Microsoft Corporation (NASDAQ: MSFT)
8. Coinbase Global Inc (NASDAQ: COIN) 
9. Airbnb Inc (NASDAQ: ABNB)
10. Virgin Galactic Holdings Inc (NYSE: SPCE)

What can we learn from these trades?

Well, a major coup in last week's data. The long-time dominator of the most popular US shares for ASX investors – the electric car and battery manufacturer Tesla – has been displaced after months at the top of the pile. ASX investors pushed Tesla aside last week for the American cinema chain AMC Entertainment. AMC has been a popular share for a while now on this list. But it has never cracked the top spot before (to this writer's knowledge, anyway).

AMC was a company hard hit in the pandemic last year, falling 68% between 14 February and 23 April. But it appears to be the object of some turnaround plays ever since. This has hit the next level over the past month or so since the infamous stock-picking group WallStreetBets seems to have taken up its cause. Back on 3 May, AMC was a US$9.70 share. Today, it's a US$26.12 one, having put on an astonishing 170% or so over the past month. No wonder ASX investors have taken notice. It also seems as though many of these investors are taking profits, with 42% of AMC trades last week being sells.

A changing of the guard?

The other popular US shares last week were also the subject of above-average selling pressure too. When we looked at the most popular US shares last week, Tesla was at the top of the pile with a 79%/21% buy-to-sell ratio. This week's numbers give us a 66%/34% ratio. So clearly some investors are ducking out of Tesla, perhaps to chase AMC shares. We see a similar pattern with GameStop.

In other news, this week sees the reemergence of Airbnb and Virgin Galactic after a few months of these companies seemingly dormant in the minds of ASX investors. Airbnb shares have actually been on the back foot in the past month, losing around 17% of their value. 85% of Airbnb trades were buys though, so there are obviously at least some investors who are 'buying the dip' there. But Virgin Galactic has rocketed more than 100% since 14 May, so it's not hard to see why investors are chasing that one.

It will be interesting to see if this week's stats prove a blip, or else some kind of realignment when we check out next week's numbers! 

The post ASX investors were buying this US share over Tesla last week appeared first on The Motley Fool Australia.

The reason? The announcement of an actively managed space exploration ETF from Cathie Wood's ARK Investment Management. Although the holdings of the ETF are unknown, the market obviously has already begun speculating. Which leads us to the question, what sort of exposure does the ASX space sector offer?

But before we get ahead of ourselves, let's cover why investors are paying attention to what one managed ETF is doing.

A bit of background on Cathie Wood and ARK

If the name Cathie Wood doesn't ring a bell, I would be very surprised. The founder and CEO at ARK Invest has become known as somewhat of a modern Warren Buffett. Although, between the two, there aren't too many similarities in investing style.

Buffett is known for his investments in cash-generative businesses that are fundamentally undervalued and being a champion for passive investing through index funds. On the contrary, Cathie Wood invests heavily based on growth.

Cathie Wood began her rise to prominence in 2019 when ARK Invest set a bull case pre-split price target on Tesla Inc (NASDAQ: TSLA) of US$7,000. At the time, Tesla shares were trading between US$200 to US$250. Many market commentators shrugged this off as crazy, unrealistic, and a pipe dream.

People started to wake up and pay attention to Cathie and ARK Invest through 2020, as Tesla broke out and ran, while Cathie's actively managed ETFs substantially beat the broader market returns. For example, the flagship ARK Innovation ETF returned 133% in 2020.

It's out of this world

According to ARK Invest's website, the space exploration ETF will seek to provide exposure to companies involved in space-related businesses. These include reusable rockets, satellites, drones, and other orbital and sub-orbital aircraft.

ARK stated that the ETF would be looking for companies that are "[l]eading, enabling, or benefitting from technologically enabled products and/or services that occur beyond the surface of the Earth."

The ETF will be actively managed, and the typical number of holdings will be between 30 to 50.

So, are there any companies on the ASX that would fit the bill?

It's slim pickings for ASX space shares

Unfortunately, the truth is there aren't too many ASX-listed companies that have exposure to space exploration. However, we'll cover a few that dabble in that realm.

Electro Optic Systems Hldg Ltd (ASX: EOS)

Electro Optic Systems (EOS) develops and produces a range of electro-optic technologies in the aerospace sector. The company is Australia's largest aerospace entity and the largest defence exporter in the southern hemisphere.

EOS grew in 2019 by acquiring EM Solutions to build out its own satellite communications offering. In its half-year results, the company indicated that it would continue to monetise its space technology in the communications and defence sectors.

In late 2020, EOS announced its own Medium-Earth Orbit (MEO) satellite constellation, EOS SpaceLink. The company expects it to be launched and operational in 2024 with positive operating cash flow. 

As of the half-year report, the company indicated a $570 million project backlog. EOS shares are down 37.7% in the last year. The company now has a market capitalisation of $863.07 million.

Xtek Ltd (ASX: XTE)

Xtek is aiming to predominantly draw revenue from its manufacturing of ballistic materials using its proprietary XTClave technology. The unique method allows the protective material to be made with a higher projectile resistance-to-weight ratio.

However, the benefit of this technology is that it can be applied to many other applications outside of just ballistic products. According to the company, the lightweight product also bodes well for manufacturing materials to be used in spacecraft and other space-related equipment. In fact, in June 2020 Xtek, in conjunction with Skykraft Pty Ltd, was given a grant to develop a small satellite launch stack.

Shares in Xtek are down 17.39% over the last 12 months. The company now has a market capitalisation of $38.61 million.

Kleos Space SA (ASX: KSS)

Kleos is a bit of a unique company in terms of what it does. The company uses satellites to deliver a global image of covert maritime activity. This is used by intelligence agencies and governments when traditional geospatial intelligence doesn't suffice, due to weather, distance, or sea state. Hence, Kleos brands itself as an RF reconnaissance data-as-a-service provider.

In May 2020, Kleos was awarded a contract on the Micro-Satellite Military Utility (MSMU) project. This entails Kleos' data being made available to the MSMU project, which involves the Departments of Ministries of Defense of Australia, Canada, Germany, Italy, Netherlands, New Zealand, Norway, United Kingdom, and the United States.

Late last year, the company announced it had successfully placed 4 of its satellites into orbit after launching from India. This will enable Kleos and its government partners to detect maritime activity such as drug and people smuggling, piracy, and illegal fishing. 

The company anticipates revenue to be derived from the satellites from the first quarter of FY2021. Currently, agreements are in place with the US Airforce, L3Harris Technologies Inc (NYSE: LHX), and other government entities. The annual licensing fees for the first cluster of satellites will be between $128,000 and $971,000 per license and the number of initial licenses targeted is around 130. 

Kleos shares are up 71.62% for the last year. The company now has a market capitalisation of $97.34 million.

The post Cathie Wood announces space ETF, what about the ASX space sector? appeared first on The Motley Fool Australia.

PayPal co-founder and early Facebook investor Peter Thiel told Forbes this month that many shares are way overvalued and it would take years for those companies to grow into their valuations.

"But I keep thinking the other side of it is that one should think of COVID and the crisis of this year as this giant watershed moment, where this is the first year of the 21st century," he said.

"This is the year in which the new economy is actually replacing the old economy."

And Sydney portfolio manager Michael Frazis couldn't agree more.

"For all the trials and tragedies of 2020, this was a year when all kinds of technology accelerated," he said in a memo to Frazis Capital clients.

"This was a year where those taking extraordinary risks to advance the human race were richly rewarded, and for that we can all be thankful."

Be on the right side of history

He acknowledged investing in new trends and technological shifts is "often uncomfortable", but investors want to be on the right side of history.

"Balance sheets and income statements are messy, and the extraordinarily talented people that build new businesses are often odd," he said.

"But it's far riskier, in our opinion, to be on the other side of these shifts. Simply look at the performance of Tesla Inc (NASDAQ: TSLA) and Carvana Co (NYSE: CVNA) versus the auto industry; Afterpay Ltd (ASX: APT) and Square Inc (NYSE: SQ) versus global banks; and Shopify Inc (NYSE: SHOP), Mercadolibre Inc (NASDAQ: MELI) and Sea Ltd (NYSE: SE) versus traditional retailers."

Sectors for the new century

Frazis pointed to the extraordinary science behind the development of COVID-19 vaccines as proof that the world has now ticked over to a new era.

"Biology has always had data at its core, but in 2020 this data science reached new heights," he said.

"Chinese scientists posted the genetic code of the coronavirus online, and within days Moderna Inc (NASDAQ: MRNA) developed the first of what will likely be many mRNA vaccines without any access to the virus itself. Truly science fiction stuff."

Biological research received a lot of government and investment funding this year, according to Frazis.

"It has never been cooler to be a biological scientist. Talent and capital is a thrilling combination. The next decade should be a good one for the life sciences."

Non-government space exploration also made tremendous progress in 2020, said Frazis, making private travel out of earth a possibility this century.

"It was also a good year for space, with Virgin Galactic Holdings Inc (NYSE: SPCE) (which we own) and SpaceX (which sadly we can't) both laying down serious milestones in what will be one of the future's largest industries."

He also picked the hydrogen fuel industry as a winner in the coming years.

"In 2020 the use of hydrogen in transportation reached critical levels, much to the benefit of Plug Power Inc (NASDAQ: PLUG), whose fuel cells now transport [about] 30% of US retail food and groceries."

Frazis Capital has returned more than 92% net for the year to date, according to the portfolio manager.

Frazis told his clients last month that he was calling the peak of "red hot tech stocks" and would be selling them down.

"Longer term yields have begun to rise, tech valuations are at record highs, and we believe a period of serious multiple compression has already begun."

The post How the 21st century actually started in 2020 appeared first on The Motley Fool Australia.