My Worst Investment Ever Podcast Inspiration in Times of Crisis from Dan Passarelli, David Stein & Dustin Heiner
Apr 28, 2020
19:01
In times of fear, uncertainty, and anxiety, a word of encouragement goes a long way to help cope with the situation. A few of our past podcast guests graciously sent us a few words of wisdom to help all of us stay hopeful for a brighter future after we beat the COVID-19 pandemic.
Dan Passarelli from Ep 42 Struck by an Anomaly in Options
- It’s going to be okay. It’s going to be okay in your trading account, your IRA, in your career, in your personal life, and most likely with your health.
- You lived through the financial crisis, through the feeling of despair back in 2008. That was temporary, and then it had been good for a long time since then. You’ll still get through the current pandemic.
- The markets may be low now, but they won’t stay there forever. If you buy stocks now, at some point, those are going to be a loser, but five years from now they will be winners.
David Stein from Ep127 Trading Currencies and Commodities Is Harder Than You Think
- We are in times of radical uncertainty, and there is no way to accurately forecast what will happen or determine the optimal asset mix to position your portfolio for what lies ahead.
- The best thing to do right now for your portfolio is to choose an asset allocation that you’re comfortable with considering that the stock market falls significantly, or it rebounds significantly in due time because a vaccine is discovered.
- Remember that comfort means we will not be personally harmed and overly regretful if either of those financial scenarios takes place.
- Right now there is no right answer based on the numbers. It’s based on your level of comfort and your level of regret.
Dustin Heiner from Ep144 His Life Went From Loss to Success When He Mastered Passive Income
- Tough times will always come, markets will go up, markets will go down.
- We need to focus on what is important in our lives. If you were to lose everything right now, what would you not do without? Focus on that.
- Serve as many people as possible and take good care of them.
- If you help more people, you’ll get something in return, not just monetary, but you also feel so much better.
- When you’re preparing for your future, start by saving for an emergency.
- Buy income-producing assets such as rental property or anything that makes you money.
Connect with Dan Passarelli:
Connect with David Stein
Connect with Dustin Heiner
Andrew’s books
- How to Start Building Your Wealth Investing in the Stock Market
- My Worst Investment Ever
- 9 Valuation Mistakes and How to Avoid Them
- Transform Your Business with Dr.Deming’s 14 Points
Andrew’s online programs
- Valuation Master Class
- Women Building Wealth
- The Build Your Wealth Membership Group
- Become a Great Presenter and Increase Your Influence
- Transform Your Business with Dr. Deming’s 14 Points
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