My Worst Investment Ever Podcast Owen O’Malley and Ana Rodríguez – Don’t Lose Control of the Checkbook
BIO: Owen O’Malley and Ana Rodríguez are business and life partners. They are on a mission to create one million millionaires by 31st December 2050.
STORY: Owen invested $25,000 in a business he had no experience running because his friend convinced him to. The company failed, and he lost all the money he had invested.
LEARNING: Invest in something that is liquid and is in your control. Take time to ask questions before you buy into an investment idea.
“Keep the money in your control at all times.”
Owen O'Malley and Ana Rodríguez
Guest profile
Owen O’Malley and Ana Rodríguez are business and life partners. They are on a mission to create one million millionaires by 31st December 2050. They have helped many people accumulate one million dollars in their online trading accounts, and they have a powerful plan to help you reach one million dollars by just investing 200 per month.
They were taught by the most successful investors in the world and have a combined 30 experience in the markets.
Worst investment ever
Owen was once approached by someone he knew and showed him this spectacular business plan. The plan was to set up a factory making security cameras. This was in the early 90s, before CCTV was big. Owen was excited about this project. The two were going to build their own security cameras in a tiny little factory in Donegal and sell them worldwide.
Owen’s friend convinced him to invest $25,000, which he didn’t have at the time. He went to the bank, borrowed the money, and gave it to his friend. This was the worst investment he has ever made. The business never panned out. If Owen had done his math right, he would have put that $25,000 in the stock market, and it would be worth multiple millions today.
Lessons learned
- Make sure you invest in something that is liquid and is in your control.
- Don’t lose control of the checkbook; keep the money in your control at all times.
- When you invest in the best companies in the world, you’ll have the best people in the world working for you.
Andrew’s takeaways
- Small businesses are a trap. If you’re running one, you’re just going to get trapped. You’re rarely going to be able to cash it out, so you just get stuck.
- If someone comes to you with a sexy idea about investing, take the time to ask the questions.
Actionable advice
If you are going to invest in companies, go to the stock market and invest in the best companies.
No. 1 goal for the next 12 months
Owen and Ana’s number one goal for the next 12 months is to continue opening up investment clubs and give people that safe, supportive space that they can learn and grow within.
Parting words
“By living in abundance, we attract abundance for us and for others around us, so it’s safe to be there.”
Ana Rodríguez
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Connect with Owen O'Malley and Ana Rodríguez
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