My First Million #76 with James Altucher - Making and Losing Millions Over and Over Again
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May 20, 2020 James Altucher, an entrepreneur and author known for his remarkable journey of making and losing fortunes, shares invaluable insights from his diverse career. He discusses the emotional rollercoaster of financial highs and lows, detailing how investing alongside smarter partners transformed his approach. James reflects on managing money better post-losses and the impact on his happiness. He emphasizes the importance of creativity in navigating life's challenges and reveals his daily practice of generating new business ideas, showcasing his relentless entrepreneurial spirit.
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First Business Success
- James Altucher's first business involved creating websites for entertainment companies in the mid-90s.
- He sold the company for about $15 million in cash at the peak of the dot-com boom.
Losing Millions
- After selling his first company, James lost his millions through ill-advised internet investments and gambling.
- He eventually went broke around 2001, exacerbated by the 9/11 attacks.
Comeback Through Investing
- After going broke, James taught himself to invest by writing software to analyze stock market patterns.
- This led to a successful hedge fund, writing books, and more ventures.