My Worst Investment Ever Podcast

BIO: Nick Hutchison is the author of Rise of the Reader: Strategies for Mastering Your Reading Habits and Applying What You Learn and the founder of BookThinkers. This growing 7-figure digital marketing agency serves mission-driven authors.STORY: Nick envisioned the first iteration of BookThinkers to be a grand mobile application. He got partners together, and they started working on the idea. Without much research or due diligence, the partners contracted an Argentinian company to build the app. Unfortunately, the company in Argentina went out of business under a year later.LEARNING: Failure is a great thing. Before you dive into a big idea, have a proof of concept and spend tens of thousands of dollars on it. Do more due diligence and understand the process before jumping into it. “I think that failure is a great thing. You should fail often and fast. Then make iterations and change.”Nick Hutchison Guest profileNick Hutchison is the author of Rise of the Reader: Strategies for Mastering Your Reading Habits and Applying What You Learn and founder of BookThinkers, a growing 7-figure digital marketing agency that serves mission-driven authors.At the age of 20, Nick discovered the world of personal development and quickly used the books he was reading to improve every aspect of his personal and professional life. Now, Nick has dedicated his life to helping millions of readers take action on the information they learn and rise to their potential.Nick’s podcast, BookThinkers: Life-Changing Books, features captivating interviews with world-class authors such as Grant Cardone, Lewis Howes, and Alex Hormozi. During these insightful discussions, Nick delves into the pages of their books, uncovering practical and transformative takeaways for his motivated audience.Worst investment everAs Nick was getting ready to graduate college, he knew he wanted to start a business and make a splash in entrepreneurship. Luckily, Nick had a safety net—a software sales rep full-time job that allowed him to make a lot of money right after graduating. So Nick had a bit of cash to spend on a side hustle idea he’d had for a while.The first iteration of BookThinkers was supposed to be a grand mobile application that readers could use to categorize their favorite takeaways from each book they read, follow each other, and see the trending books within the platform. It was supposed to be a much better version of what Good Reads is today.Nick connected with a couple of friends and started this business. The first order of business was how to build a mobile application. They found a firm in Argentina that would create the mobile application for them. They put all of their money that we’ve got into this mobile app.The company in Argentina went out of business under a year later. The tech built so far wasn’t working, so they couldn’t test it. Nick and his partners never found a product market fit and had no successful monetization after spending tens of thousands of dollars on the mobile app.Lessons learnedFailure is a great thing. Fail often and fast, then make iterations and changes.Have a proof of concept before you dive into a big idea and spend tons of money on it.Do more due diligence and understand the process before jumping into it.Andrew’s takeawaysIf you have to have a mobile app, the best way to do it is to create a tiny MVP that does one small thing and then release it to an audience.Actionable adviceSpeak to potential mentors or people who have severally done what you want to do and have also helped other people do it as well. Have them show you the roadmap.Nick’s recommendationsNick recommends reading $100M Offers: How To Make Offers So Good People Feel Stupid Saying No. In the book, the author Alex Hormozi talks about how 20% of your customers are willing to pay five times more if you could provide more value. He teaches how to have the same revenue but work with 1/5 of your clientele, serve them better, work slower, and offer more value.Nick also recommends pre-ordering his book Rise of the Reader: Strategies for Mastering Your Reading Habits and Applying What You Learn. The book has the power to help readers rise to their potential.No.1 goal for the next 12 monthsNick’s number one goal for the next 12 months is to make seven figures in revenue. He also plans to have a kid in the next 12 months.Parting words “The right book at the right time can change your life if you can apply it the right way. So, just remember that our life experiences aren’t as unique as we think they are. Billions of people have lived before us; millions of them have written books, and thousands of those books might be able to solve your problems.”Nick Hutchison [spp-transcript] Connect with Nick HutchisonLinkedInInstagramWebsitePodcastBookAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassThe Become a Better Investor CommunityHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleFVMR Investing: Quantamental Investing Across the WorldBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsAchieve Your GoalsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramThreadsTwitterYouTubeMy Worst Investment Ever Podcast

In this episode of Investment Strategy Made Simple (ISMS), Andrew gets into part two of his discussion with Larry Swedroe: Ignorance is Bliss. Today, they discuss two chapters of Larry’s book Investment Mistakes Even Smart Investors Make and How to Avoid Them. In this tenth series, they discuss mistake number 18: Do you believe your fortune is in the stars? And mistake number 19: Do you rely on misleading information?LEARNING: Stop thinking about having your fortune in the stars. Avoid actively managed funds. Be cautious when evaluating claims about fund performance. “Stop thinking about having your fortune in the stars. Morningstar won’t help you.”Larry Swedroe In today’s episode, Andrew continues his discussion with Larry Swedroe, head of financial and economic research at Buckingham Wealth Partners. You can learn more about Larry’s Worst Investment Ever story on Ep645: Beware of Idiosyncratic Risks.Larry deeply understands the world of academic research and investing, especially risk. Today Andrew and Larry discuss a chapter of Larry’s book Investment Mistakes Even Smart Investors Make and How to Avoid Them. In this tenth series, they discuss mistake number 18: 18: Do you believe your fortune is in the stars? And mistake number 19: Do you rely on misleading information?Did you miss out on previous mistakes? Check them out:ISMS 8: Larry Swedroe – Are You Overconfident in Your Skills?ISMS 17: Larry Swedroe – Do You Project Recent Trends Indefinitely Into the Future?ISMS 20: Larry Swedroe – Do You Extrapolate From Small Samples and Trust Your Intuition?ISMS 23: Larry Swedroe – Do You Allow Yourself to Be Influenced by Your Ego and Herd Mentality?ISMS 24: Larry Swedroe – Confusing Skill and Luck Can Stop You From Investing WiselyISMS 25: Larry Swedroe – Admit Your Mistakes and Don’t Listen to Fake ExpertsISMS 26: Larry Swedroe – Are You Subject to the Endowment Effect or the Hot Streak Fallacy?ISMS 27: Larry Swedroe – Familiar Doesn’t Make It Safe and You’re Not Playing With the House’s MoneyISMS 29: Larry Swedroe – The Shiny Apple is Poisonous and Information is Not KnowledgeMistake number 18: Do you believe your fortune is in the stars?According to Larry, people are still relying heavily on Morningstar ratings. When Morningstar increases its rating, cash tends to flow in, and money flows out when it lowers its rating. Morningstar’s ratings, similar to film critics’ ratings, are widely used by investors to determine fund performance and which funds to invest in.However, these ratings are not a reliable way to choose your investment. Even Morningstar eventually reported in a study that they found that the fund’s expense ratio was a better predictor than Morningstar’s ratings. According to Larry, that’s precisely what you would expect if markets are efficient, which means that good stock pickers can’t exploit the market.So, people who rely on Morningstar ratings are just fooling themselves. There’s no informational value in Morningstar’s rating system.Larry says that investors are best served by simply avoiding actively managed funds. Choose the asset classes you want to invest in, then do some research. Look for low-cost funds/instruments that give you the most exposure per unit of cost. Stop thinking about having your fortune in the stars. Morningstar won’t help you. Neither will an advisor who’s recommending actively managed funds.Mistake number 19: Do you rely on misleading information?In this chapter, Larry discusses the issue of misleading information in the investment industry, particularly concerning mutual fund returns, and highlights two biases that distort reported returns.According to Larry, survivorship bias is where poorly performing funds disappear over time through mergers with better-performing funds. However, the reported performance of the merged funds doesn’t reflect the poor returns of the disappearing funds. This bias leads to an overestimation of average fund returns, as demonstrated by an example from 1986 to 1996, where the disappearance of underperforming funds led to an apparent improvement in overall returns.Larry mentions a second bias, incubator funds. These are newly created funds that mutual fund families seed with their capital and keep away from public scrutiny. Fund companies often bring public only the fund with the best performance from a group of incubator funds, effectively hiding the underperforming ones. The SEC’s allowance for not reporting the pre-public performance of incubator funds leads to potential distortions in reported returns. Examples of abuse, such as allocating hot initial public offerings (IPOs) to small incubator funds to enhance their returns, further exacerbate this bias.Larry recommends prohibiting advertising returns before a fund is available to the public. This could help mitigate the potential for biased reporting. Additionally, he advises investors to be cautious when evaluating claims about fund performance and to ensure that reported data doesn’t contain the two biases he’s mentioned.About Larry SwedroeLarry Swedroe is head of financial and economic research at Buckingham Wealth Partners. Since joining the firm in 1996, Larry has spent his time, talent, and energy educating investors on the benefits of evidence-based investing with an enthusiasm few can match.Larry was among the first authors to publish a book that explained the science of investing in layman’s terms, “The Only Guide to a Winning Investment Strategy You’ll Ever Need.” He has authored or co-authored 18 books.Larry’s dedication to helping others has made him a sought-after national speaker. He has made appearances on national television on various outlets.Larry is a prolific writer, regularly contributing to multiple outlets, including AlphaArchitect, Advisor Perspectives, and Wealth Management. [spp-transcript] Connect with Larry SwedroeLinkedInTwitterWebsiteBooksAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassThe Become a Better Investor CommunityHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleFVMR Investing: Quantamental Investing Across the WorldBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsAchieve Your GoalsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever PodcastFurther reading mentionedLarry Swedroe and RC Balaban, Investment Mistakes Even Smart Investors Make and How to Avoid ThemPhilip E. Tetlock, Expert Political Judgment: How Good Is It? How Can We Know?Gary Belsky and Thomas Gilovich, Why Smart People Make Big Money Mistakes and How to Correct Them: Lessons from the Life-Changing Science of Behavioral EconomicsLarry Swedroe, Think, Act, and Invest Like Warren Buffett: The Winning Strategy to Help You Achieve Your Financial and Life Goals

BIO: Laurie Barkman, the business transition sherpa, is the former CEO of a $100 million revenue company that was sold to a Fortune 50 company.STORY: Though Laurie has had a flourishing career in the startup world, she regrets not spending that time building her own business.LEARNING: Quit often, quit fast. Don’t hesitate, or stay in something that doesn’t bring you value. Pay attention to your instinct; don’t be afraid to act on it. “Gravitate towards your strengths and follow your passions if you’re clear about what they are.”Laurie Barkman Guest profileLaurie Barkman, the business transition sherpa, is the former CEO of a $100 million revenue company that was sold to a Fortune 50 company.Laurie guides business owners through the often overwhelming process of transition planning. As a mergers and acquisitions intermediary, she facilitates sell-side and buy-side transactions in the lower middle market.Laurie is the Amazon best-selling author of The Business Transition Handbook: How to Avoid Succession Pitfalls and Create Valuable Exit Options and hosts the award-winning podcast Succession Stories, rated in the top 2.5% of podcasts globally.Laurie earned an MBA from Carnegie Mellon University and a bachelor’s from Cornell University. She received a professional designation from The Alliance of Mergers & Acquisitions Advisors.Get a complimentary business assessment. See how an acquirer would evaluate your business, enabling you to focus today on what will be important down the road. Learn what changes could double the value of your business.Worst investment everWhen Laurie was studying for her MBA, she also took entrepreneurship courses and was the president of the entrepreneurship club. Laurie was excited about graduating and going into entrepreneurship. But, she didn’t have the big idea or tech skills. This was in the late 90s when it was all about tech startups. Laurie also lacked the risk profile. So, instead of starting a business or buying an existing one after her MBA, she joined a startup, which in and of itself was a good thing.Looking back at her career, most of the positions Laurie had helped her add value and grow professionally. But one or two roles made her realize that she should have invested her time in building her own business instead of going into employment.Lessons learnedTry to figure out what you’re good at, what you’re not, and what you enjoy and don’t before settling on a permanent career path.Gravitate towards your strengths and follow your passions if you’re clear about them.Andrew’s takeawaysQuit often, quit fast. Don’t hesitate, or stay in something that doesn’t bring you value.Pay attention to your instinct; don’t be afraid to act on it.Actionable adviceIt’s important to trust your instincts. If you’re feeling unsure about something, trust that little voice.Laurie’s recommendationsLaurie recommends her book, The Business Transition Handbook, for business owners with questions about business transition at any stage of their entrepreneurial journey. The book has a lot of content, resources, and ideas for how to help you build your business with the mindset of creating value. Every chapter is a succession pitfall to avoid and ends with an action summary and tips on your next steps. There’s great content, stories, and case studies for companies that have had some challenges and successes along the way.Laurie also recommends checking out her website for other resources, including two assessments you can take. One is a business assessment to understand your business’s strengths, opportunities, or risks. And if you share your financial information, you’ll also get a valuation of your business. The other assessment is for personal transition readiness to help you understand the emotional side of things.No.1 goal for the next 12 monthsLaurie’s number one goal for the next 12 months is to help a million business owners with business transitions. She’d like to take her book and make a course.Parting words “Keep on working on your transition; you’ll always remember the value it brought you.”Laurie Barkman [spp-transcript] Connect with Laurie BarkmanLinkedInFacebookTwitterInstagramYouTubeWebsitePodcastBookAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassThe Become a Better Investor CommunityHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleFVMR Investing: Quantamental Investing Across the WorldBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsAchieve Your GoalsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramThreadsTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Mark Venables, originally from the UK, is a serial entrepreneur and, among other companies, owns thecryptomerchant.com, offering the largest selection of crypto self-custody devices on the planet.STORY: Mark bought crypto in an exchange, but ironically, despite being surrounded by 1,000s of cold wallets, Mark didn’t take his crypto and put it in a cold wallet. The crypto company got into some financial difficulties and went down in a blaze. Mark’s crypto was frozen for about two years.LEARNING: You don’t need hundreds of thousands in crypto to get a cold wallet. Whether a veteran or newbie crypto trader/investor, habitually put your crypto into a cold wallet. “Do your best to secure your crypto. It’s so simple and inexpensive, and it could actually be fun with some of these devices.”Mark Venables Guest profileMark Venables, originally from the UK, is a serial entrepreneur and, among other companies, owns thecryptomerchant.com, offering the largest selection of crypto self-custody devices on the planet. He is determined to get the word out about cold wallets and crypto security while encouraging people new to crypto to get involved and be secure. Use code DRSTOTZ at checkout to get 10% off your entire order on The Crypto Merchant.Worst investment everSeveral years ago, Mark was excited about this company called Block Phi. It had a cool-looking crypto credit card that gave you rewards in crypto. Mark applied for one of those credit cards and would use it frequently.The company also had an exchange. Mark put money into crypto on that exchange. Ironically, despite being surrounded by thousands of cold wallets, Mark didn’t take his crypto and put it in a cold wallet. The crypto company got into some financial difficulties and went down in a blaze. Mark’s crypto was frozen for about two years because he didn’t protect it. He was finally able to withdraw his crypto a couple of days ago. But he was only allowed to withdraw what the crypto was worth back on the 21st of June 2020, not its current value.Lessons learnedYou don’t need hundreds of thousands in crypto to get a cold wallet.Whether a veteran or newbie crypto trader/investor, habitually put your crypto into a cold wallet.Actionable adviceDo your best to secure your crypto. It’s so simple and inexpensive, and it could be fun with some of these devices.Mark’s recommendationsGo to thecryptomerchant.com, poke around, and see what you like. If you have questions, contact the tech support or email Mark for prompt assistance. If you find something you want, use the code DRSTOTZ at checkout to get 10% off your entire order.No.1 goal for the next 12 monthsMark hopes we’ll soon come out of this cycle of the crypto winter. So his number one goal for the next 12 months is to get some education together so that when people start wanting to get on board, they’ll find all the resources they need to learn what they need to know.Parting words “Use common sense, stay secure, and hold on for dear life.”Mark Venables [spp-transcript] Connect with Mark VenablesLinkedInFacebookWebsiteAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassThe Become a Better Investor CommunityHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleFVMR Investing: Quantamental Investing Across the WorldBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsAchieve Your GoalsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramThreadsTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Tania Reif is the Founder and CIO of Senda Digital Assets. Prior to her cryptocurrency focus, she built her investment pedigree at top macro hedge funds, including Soros Fund Management, Laurion Capital, Citadel, and Alphadyne Asset Management.STORY: Around the end of 2017, Talia believed the dollar would stay strong and rally. Unfortunately, it tanked in January 2018. It only started rallying three or four months later, but by that time, Talia had taken her chips off the table and didn’t profit from her view that played out a few months later.LEARNING: Reassess your investment model and make discretionary decisions to avoid getting into trouble. You can’t always be on top of everything in the financial world. Don’t fight the flow. “You actually can be right and lose money. This mostly happens when you’re, funnily enough, too early to a trade.”Tania Reif Guest profileTania Reif is the Founder and CIO of Senda Digital Assets. Prior to her cryptocurrency focus, she built her investment pedigree at top macro hedge funds, including Soros Fund Management, Laurion Capital, Citadel, and Alphadyne Asset Management.She was profiled in the 50 Leading Women in Hedge Funds 2017 survey by The Hedge Fund Journal. Her career spans public policy beginnings at the International Monetary Fund and experience in the banking industry at Citgroup’s Economic and Market Analysis team.She holds a Ph.D. in Economics with Distinction from Columbia University, where she earned the Jagdish Bhagwati International Economics Award for her work in currency dynamics.Worst investment everTania had a perfect model for trade currencies that had worked for many years. Then, in 2016, 17 and 18, it started to wobble. Around that time, she had a bunch of episodes where she’d put a trade on exchange rates, and it just wouldn’t go her way, or it would take longer.Around the end of 2017, Talia believed the dollar would stay strong and rally. Unfortunately, it tanked in January 2018. It only started rallying three or four months later. By then, Talia had taken her chips off the table and didn’t profit from her model that ended up playing out a few months later.Lessons learnedStay humble, and when things are not working, take a step back, reassess your investment model, and make discretionary decisions to avoid getting into trouble.Andrew’s takeawaysYou can’t always be on top of everything in the financial world.Don’t fight the flow.Actionable adviceHave a smaller size until you understand what’s happening. Be careful, and avoid the temptation to double down because you’re convinced you’re right.Tania’s recommendationsTania recommends following Michael Howell for fantastic research and data on liquidity. He also has a substack for young and non-institutional investors that you can subscribe to.No.1 goal for the next 12 monthsTania launched a crypto fund in 2022, and her number one goal for the next 12 months is to get this young fund up and running into a more mature and established institution.Parting words “Please reach out if you’re interested in learning more about crypto. I think it’s the future, and I’m here to answer any questions you may have.”Tania Reif [spp-transcript] Connect with Tania ReifLinkedInTwitterWebsiteAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassThe Become a Better Investor CommunityHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleFVMR Investing: Quantamental Investing Across the WorldBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsAchieve Your GoalsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramThreadsTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Mark Neuman is the CIO and founder of Constraint Capital. He is a CFA charterholder and creator of the ESG orphans index.STORY: Mark talks about constrained capital, ESG orphans, and his work around it.LEARNING: We can’t get to the future of energy without present energy. To win the renewable energy fight, we must put facts above feelings. “We can’t get to the future of energy without present energy.”Mark Neuman Guest profileMark Neuman is the CIO and founder of Constraint Capital. He is a CFA charter holder and creator of the ESG orphans index. He’s a 30-year Wall Street veteran and former global equity derivatives trader with Merrill Lynch, Susquehanna, Jones Trading, and Bay Crest partners. He’s a former event-driven hedge fund partner. In his recent investment project, he spent 1,000 hours of deep dive into all things ESG over the past six years. His goal is to deliver truth in ESG to protect and help investors make informed decisions with measurable results when understanding risk and reward.In today’s episode, Mark talks about constrained capital, ESG orphans, and the work he is doing around it.Constraints on capitalAccording to Mark, constraints on capital is a pattern that exists in the market based on policy, investment themes, and philosophies. Most recently, ESG (Environmental, Social, Governance) has been the most prominent example of constraints on capital. Constraints on capital cause misallocation and malinvestment. In general, they are starving specific industries and flooding others.For example, in ESG, constraints were heavily implemented on fossil fuels, nuclear energy, weapons, alcohol, tobacco, and gambling. Basically, ESG said those were bad. On the other side, they chose certain winners that were apparently good in ESG, leading to the misallocation of capital because, though these winners are considered great, they still have a considerable carbon footprint.Ultimately, the constraints push capital to one place and starve capital to another. The ESG orphans are the six sectors, fossil fuel, nuclear energy, weapons, alcohol, tobacco, and gambling, that were routinely excluded. As they’re being cut off from capital, the value of their stocks falls.Looming reversal flows for ESG orphansIn the last decade up through 2021, the Info-Tech space in the S&P 500 grew from 18% weighting to 36%. On the other hand, the energy sector shrunk from about 10% to 2.5% and became so cheap within the same decade. Mark indicates that we’ll see a reversion over a more extended period. As ESG gets called out, we’ll see reversal flows that will return to those excluded names.Put facts above feelingsMark insists he’s not anti-ESG; he’s simply anti the ESG bubble as an investor and a CFA charterholder. He says there’s significant value in many of these companies that have been discarded. We simply need a different energy plan. While Mark agrees we need to find a replacement for fossil energy, he believes that we can’t get to the future of energy without present energy.Therefore, it makes no sense to starve Exxon Mobil, for example, instead of leaning on it to lead the renewable energy change. Mark thinks people putting feelings above facts on some level is a troubling aspect of ESG.Mark has been doing a lot of ESG consulting, working with companies to help them understand the risks. If certain companies have been classified by ESG as medium risk or low risk, Mark wants to kick the tires and turn it over. He’s helping companies do their own due diligence and dig into what their ESG analysis really means. Mark’s passion is ensuring people understand risk and reward and are not misled by ESG, saying, “Everybody wins, nobody loses, it’s costless, and we’re all benefiting.” That sounds too good to be true for him. [spp-transcript] Connect with Mark NeumanLinkedInTwitterAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassThe Become a Better Investor CommunityHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleFVMR Investing: Quantamental Investing Across the WorldBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsAchieve Your GoalsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramThreadsTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Ryan Dusick is an associate marriage and family therapist, life coach, mental health advocate, and the founding drummer of the world’s most popular band, Maroon 5.STORY: Ryan’s worst investment ever was spending a decade of his time, energy, and focus believing that he had control over his life. Simply playing God with the reality of his existence.LEARNING: Happiness comes from connection and purpose. Investing yourself in something meaningful to you establishes purpose. “If you want to achieve certain things in your life, you must put yourself out there and be prepared for setbacks, disappointments, and failures.”Ryan Dusick Guest profileRyan Dusick is an associate marriage and family therapist, life coach, mental health advocate, and the founding drummer of the world’s most popular band, Maroon 5.He is also a columnist for Variety Magazine and the author of the new book “Harder to Breathe: A Memoir of Making Maroon 5, Losing It All, and Finding Recovery.”His life has been a long and winding road from an aspiring pop star with anxiety to a heartbroken alcoholic to a thriving mental health survivor and messenger of hope in recovery.Worst investment everThe worst investment Ryan ever made was investing a decade of his time, energy, and focus into an illusion. The illusion was that he had control over his life, simply playing God with the reality of his existence. There were moments in that decade that were pleasant, enjoyable, and fun for Ryan.Maintaining the lie that Ryan had control of his life and that he could escape the feelings that were so painful was an exercise in futility. Life just got worse over time. His coping skills deteriorated. Ryan had invested in a way of life that was harming him and not benefiting him in any way other than maybe a moment of pleasure from time to time.Lessons learnedHappiness comes from feeling connection and purpose.Meaning and purpose are not necessarily handed to you by God or the universe. You can create them for yourself.Use your mindset to find ways to grow and find new connections and a new purpose.Investing yourself in something meaningful to you establishes purpose.Actionable adviceIf you want to achieve certain things in your life, to a certain extent, you have to put yourself out there and be prepared that there may be setbacks, disappointments, and failures. That’s part of the process, ultimately, of getting to where you want to be. Those setbacks, disappointments, and failures don’t make you a failure or mean it’s the end of the road. It’s part of the process of pursuing something valuable to you.No.1 goal for the next 12 monthsRyan’s number one goal for the next 12 months is to be more of a professional speaker, step it up to the next level, and share some of the things he’s learned on a bigger scale. He also wants to continue to write more.Parting words “Good luck to you on your journey. If it’s been a while for you, it’s still coming. Just be open to it.”Ryan Dusick [spp-transcript] Connect with Ryan DusickLinkedInTwitterFacebookInstagramWebsiteBookAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassThe Become a Better Investor CommunityHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleFVMR Investing: Quantamental Investing Across the WorldBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsAchieve Your GoalsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramThreadsTwitterYouTubeMy Worst Investment Ever PodcastFurther reading mentionedEckhart Tolle, The Power of Now: A Guide to Spiritual Enlightenment

Thomas Chua, founder of SteadyCompounding.com, invested in a company with a gaming and e-commerce business. Unfortunately, the gaming business started faltering and he held on too long. Lesson learned: have a proper sell thesis when investing in smaller companies and ensure diversification.

BIO: Kat Merchant is a Rugby World Cup Champion turned Lifestyle, Nutrition & Fitness Coach. Her mission is to show you how your weight-loss journey and making positive lifestyle and nutrition changes can catalyze improvement in EVERY aspect of your life.STORY: Kat had to retire early from her successful rugby career. A few years after that, she went through an awful breakup. At the same time, the world went into a lockdown because of COVID-19. She decided to spend all her energy trying to get back control of her life. So, she overtrained. The more she worked out, the more she felt empty inside, even though her outside was transforming.LEARNING: You can’t help people if you’re not in a good place. Be careful and choose how you spend your energy. People don’t care about you nearly as much as you think they do. “You cannot help people if you’re not in a good place yourself.”Kat Merchant Guest profileKat Merchant is a Rugby World Cup Champion turned Lifestyle, Nutrition & Fitness Coach. Her mission is to show you how your weight-loss journey and making positive lifestyle and nutrition lifestyle changes can be the catalyst for improvement in EVERY aspect of your life.From boosting your career performance to enhancing your personal relationships and mental well-being, turning sweat into success is what she lives for.Through her bespoke coaching program, Elite-14, she provides tailored strategies, support, and accountability to help you achieve your health and wellness goals and, ultimately, lead a happier and more balanced life.Worst investment everKat had her very successful rugby career cut short due to too many concussions. She was just 28 years old at the time. A few years after that, she went through an awful breakup. At the same time, the world went into a lockdown because of COVID-19.Kat didn’t know who she was anymore because she didn’t have rugby. She’d completely lost her confidence. Kat spent all her energy trying to regain control of her life. She wanted to look feminine and feel confident. So Kat overtrained and did exercises she didn’t like. For instance, Kat loved lifting, but because she was trying to get rid of her muscles, she did loads and loads of cardio. Kat got obsessed and weighed herself every day. The more she worked out, the more she felt empty inside, even though her outside was transforming.Lessons learnedYou can’t help people if you’re not in a good place.Be careful and choose how you spend your energy.Do things that are right for you.You don’t have to change yourself for anyone else. Change yourself for you if you want to.Andrew’s takeawaysYour whole life’s mission should be to become more you.People don’t care about you nearly as much as you think they do.Actionable adviceIf something’s an issue and you can change it, do it now before it becomes too late or before you go through rock bottom pain. Just change it.Kat’s recommendationsCheck Kat out on social media, where she shares valuable tips on how to lose fat, build muscle, stay motivated, and set yourself up for success. If you want to make that change and need support and accountability, drop Kat a message, and she’ll talk to you about her one-on-one program,No.1 goal for the next 12 monthsKat’s number one goal for the next 12 months is to keep getting fitter, stronger, and confident. Business-wise, Kat wants to keep getting amazing clients and helping as many people as possible to smash it.Parting words “Do it today.”Kat Merchant [spp-transcript] Connect with Kat MerchantLinkedInWebsiteAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassThe Become a Better Investor CommunityHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleFVMR Investing: Quantamental Investing Across the WorldBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsAchieve Your GoalsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramThreadsTwitterYouTubeMy Worst Investment Ever Podcast

Laurent Lequeu, multi-asset investor, shares his worst investment experience of shorting NVIDIA. He discusses the importance of sizing in a short position and applying risk management. The podcast also covers topics like the impact of inflation on financial markets, Europe's energy crisis, and the importance of risk management and humility in trading.