The Mikhaila Peterson Podcast

How to Get Rich From the Wolf of Wall Street | Jordan Belfort

Nov 14, 2023

Jordan Belfort shares advice on running a business and investing without getting scammed. He discusses hiring, managing, and firing people, as well as long-term financial planning. He emphasizes the importance of avoiding money managers and seeking expert guidance. The chapter also explores concerns about financial firms like Vanguard and BlackRock and discusses the impact of the woke agenda on industries.

01:01:39

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Episode guests

Jordan Belfort

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Quick takeaways

The best investment strategy over the long term is to invest in an S&P 500 index fund and let your money grow through compounding, avoiding the complexity and fees of money managers.

Becoming successful in business requires a combination of innate skills and learned strategies, such as starting and scaling a business, effective communication, and salesmanship.

Investing in low-cost index funds, like the S&P 500, consistently outperforms the majority of money managers, demonstrating that long-term, simple investment approaches can lead to financial success.

Deep dives

Investing and the Importance of Self-reliance

Investing your money can be challenging, but it's essential to take charge of your financial future. Financial planners often take more than they give, and their expertise may not be necessary. The best investment strategy over the long term is a simple one: invest in an S&P 500 index fund, combined with other investment tools, and let your money grow through compounding. This strategy has proven successful over the last 100 years, allowing individuals to build a substantial portfolio and retire comfortably. Taking control of your investments and avoiding the complexity and fees of money managers can lead to better long-term results.

Introduction

5min

Health benefits of saunas, developing business skills, and investing

5min

Advice for Shy Individuals in Sales

14min

Effective Entrepreneurship: Managing People, Analyzing Data, and Taking Action

5min

Hangover supplement and investing book

3min

The Problem with Seeking Experts in Investing

25min

Concerns about Vanguard and BlackRock, the Woke Agenda, and Investing

3min

Jordan Belfort shared his advice on running a business and the rules he uses to hire, manage and fire people. He’s recently written a book about how to invest without getting scammed that seems to be full of extremely reasonable information for the average person. Hint - avoid money managers. If you want to learn about long term financial planning, as well as how to optimize business operations, this is a handy episode.

Jordan Belfort is an author, motivational speaker, and former stockbroker. In 1999, he pleaded guilty to fraud and related crimes in connection with stock-market manipulation and running a boiler room as part of a penny-stock scam. After 22 months in prison, he published a memoir, The Wolf of Wall Street, which was adapted into a film starring Leonardo DiCaprio. Jordan now uses his experiences to teach people how to make and maximize their money.

Jordan’s book, The Wolf of Investing: My Insider’s Playbook for Making a Fortune on Wall Street, can be purchased here: https://www.amazon.com/Wolf-Investing-Playbook-Making-Fortune/dp/1982197056/

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Instagram: https://www.instagram.com/wolfofwallst/

Twitter: https://twitter.com/wolfofwallst

TikTok: https://www.tiktok.com/@wolfofwallstreet

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