Best High Risk/High Reward Investments?

I am interested in learning all I can about high risk/high reward investments, because quite simply, I do not wish to spend my entire life working for other people. I am not interested in conservative portfolios that have the potential to yield 10% annualized returns. I am looking for the type of high risk/high reward investments that can make me a billionaire in less than 10 years. The kind of ideas that make a poor and hungry non-target such as myself, salivate at the mouth.

I’d like to hear from experienced finance people and people who have amassed great wealth, what they think are the best routes to take for profit maximization. I do realize not everyone is interested in sharing their ideas, for fear of having them stolen, but let’s be realistic. There are thousands of people more qualified than you, who have written countless books, describing in detail how to get rich, so in all honestly, how many people are going to read what is written in this thread and take your advice? Out of the people that do take your idea, how many of them have the knowledge, experience, resources and/or luck to successfully implement your strategy? So, let’s try not to be greedy.

I will start with my current plan, and my 10 year plan. The 10 year plan is a very rough draft, and continues to evolve every single day. I welcome all forms of constructive criticism. Let’s not forget, that less than a few weeks ago, I was a strong proponent of EMH. http://www.wallstreetoasis.com/forums/incubator-h…

Current Plan: As an 18 year old, with very little finance experience, I realize I am outmatched by many market participants. Therefore, I believe my best option at this point in time is to steal the smartest ideas from the smartest people.

10 Year Plan: 1) Use fundamental analysis to determine undervalued assets. I predict that when I’m done with all my research, my investment approach will resemble some sort of Graham/Fisher hybrid, very similar to Warren Buffet’s approach.

2) Unlike Warren Buffet, I like the concept of using a tremendous amount of leverage. I am currently studying how to effectively use as much leverage as possible on the capital I invest. I’m still contemplating if this is the most effective way to generate wealth over the long-term or just part of the high risk/high reward mentality that has been etched into my brain.

3) Buy undervalued assets, using as much leverage as possible.

4) Anything using that much leverage is essentially a house of cards. During bull markets, they tend to do extremely well, but tend to tank during any major bear market. My solution is to take half of all the profit from my excessively leveraged portfolio, and put it into a conservatively managed portfolio of blue chip stocks and investment grade bonds.

5) When the house of cards falls down, I take 25% of the capital out of my conservatively managed portfolio, and repeat from step 1.

Of course, generating true wealth is much easier said than done, and in the end it all comes down to a four word phrase. “SHOW ME THE MONEY!”