Investing with Discipline

This chapter explores the importance of emotional discipline and a long-term commitment to investment fundamentals as opposed to chasing market trends. Through the wisdom of seasoned investors and case studies like Snapchat, it highlights the crucial role of profitability and cash flow growth in making sound investment decisions.

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Episode notes

On today’s episode, Clay Finck is joined by Daniel Pronk and Jake Ruth to share the fundamentals of stock investing. They dive into everything they wish they knew as a beginner, the books they would read, and the biggest mistakes they would have tried to avoid.

Daniel Pronk and Jake Ruth are the founders of Stock Unlock, which is helping transform everyday people into successful investors. Daniel is also popular on YouTube, as he has over 200k subscribers on his channel. Daniel and Jake are the perfect guests for the show to help make stock investing much more approachable and easy to understand.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro.

02:24 - How Daniel and Jake first got into stock investing.

05:39 - The key lessons they would teach their younger selves.

08:57 - Why compounding is so critical to understand as investors.

16:25 - Why the best investors aren’t those with the highest IQ but those with the best temperament.

26:24 - Why growth isn’t always good for a business.

33:14 - Why most investors should stick to only investing in profitable companies.

36:33 - The most common mistakes newer investors make.

36:37 - Daniel’s three criteria for investing in a business.

49:31 - Why we should be wary of companies with high dividend yields.

56:23 - How the listeners should know when they are ready to start investing.

63:58 - Why most companies are doomed to have their moat disrupted.

65:27 - What led Daniel and Jake to start Stock Unlock.

01:13:50 - Unique tools that Stock Unlock provides.

01:14:28 - What books Daniel & Jake would give to their 18-year-old selves.

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
Get 30% off Stock Unlock for 12 months with code WSB here.
Stock Unlock’s YouTube channel.
Daniel Pronk’s YouTube.
Tune into our previous episode: WSB577: Valuation Masterclass w/ Aswath Damodaran or watch the video.
Follow Clay on Twitter.
Follow Jake on Twitter.
Follow Daniel on Twitter.

SPONSORS

Support our free podcast by supporting our sponsors:

River
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Sun Life
The Bitcoin Way
Range Rover
Sound Advisory
BAM Capital
Fidelity
SimpleMining
Briggs & Riley
Public
Shopify

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