My Worst Investment Ever Podcast Manuj Aggarwal – There Is No Sure Shot When Investing
BIO: Manuj Aggarwal is an engineer, inventor, author, and entrepreneur.
STORY: Manuj was convinced by a dentist to get into forex trading, an area he had no idea how it worked. He traded $75,000 and lost it in under an hour.
LEARNING: Learn how to control your risk. There are no short shots.
“Before you go into the market, learn about volatility, probability, and money management.”
Manuj Aggarwal
Guest profile
Manuj Aggarwal is an engineer, inventor, author, and entrepreneur.
He is currently working on a groundbreaking AI-based technology that builds meaningful relationships and establishes thought leaders at scale on auto-pilot. He uses behavioral science and AI to help companies solve complex problems, gain traction, and increase revenue.
He is also the CIO/Founder of Tetranoodle Technologies, which is a boutique big data consulting company that provides strategic insights and develops problem-solving digital solutions for businesses of all sizes.
His popular entrepreneurial podcast Bootstrapping Your Dreams got ranked as Top 100 next to Tony Robbins, Gary Vee, and Tim Ferriss.
Worst investment ever
When the 2008 financial crisis hit, Manuj lost 50% of his investment portfolio. He had relied on a financial advisor to build the portfolio, which hadn’t brought any significant returns in the 10 years he’d held it. After the loss, Manuj decided to learn how to manage his money and invest independently.
As Manuj learned about investing in the stock market, he met a dentist who told him that he also wanted to learn about it, but it was too dull. The dentist said he knew someone experienced in forex trading and would trade for them.
Even though Manuj didn’t know much about forex trading, he was curious about the high returns. He put in a few dollars, and the first trade went well. He decided to trade again, and he put in $75,000. The transaction didn’t go well, and he lost all the money in under an hour.
Lessons learned
- Learn how to control your risk.
- There are no short shots.
Andrew’s takeaways
- No financial advisor works for free. Know how yours is compensated for helping you.
- Always follow an investment framework.
Actionable advice
If you want to manage money and trade the markets, you must have a system. Your system needs to be personalized based on your preference.
No. 1 goal for the next 12 months
Manuj’s number one goal for the next 12 months is to share the AI he’s developing with as many Fortune 500 companies as well as individual entrepreneurs or startup founders.
Parting words
“Learn about the market before you get into it. It can be rewarding, but it will be very merciless if you don’t do your research.”
Manuj Aggarwal
[spp-transcript]
Connect with Manuj Aggarwal
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
- How to Start Building Your Wealth Investing in the Stock Market
- Finance Made Ridiculously Simple
- Become a Great Presenter and Increase Your Influence
- Transform Your Business with Dr. Deming’s 14 Points