My Worst Investment Ever Podcast

BIO: Manisha Thakor has worked in financial services for over 30 years, focusing on women’s economic empowerment.STORY: From a very young age, Manisha equated her self-worth to her achievements. This led her to overwork herself almost to death—twice.LEARNING: Don’t underestimate the incredible power of the net present value of your future earnings. Invest concurrently in your financial health and your emotional wealth. “Investing concurrently in your financial health and your emotional wealth is the secret formula to maximizing the NPV of your potential future earning stream.”Manisha Thakor Guest profileManisha Thakor has worked in financial services for over 30 years with a focus on women’s economic empowerment. A nationally recognized thought leader around the issues of financial literacy and education, Manisha has been featured in national media such as The Wall Street Journal, The New York Times, Barron’s, CNN, and CNBC. She has written two personal finance books for women in their 20s and 30s. Her latest book MoneyZen: The Secret to Finding Your “Enough,” comes out on August 8th, 2023. Manisha earned her MBA from Harvard Business School and her BA from Wellesley College. She also holds the CFA and CFP designations.Worst investment everGrowing up, Manisha lived in a small town in Indiana. Being mixed race, she got picked on a lot, particularly in grades four, five, and six. Those formative years put her on the search for a sense of belonging. The cheerleaders and football players didn’t like Manisha, but the teachers did because she worked hard and got good grades. So Manisha started getting endorphin high from teachers’ approvals and getting good grades. She kept studying and going after those grades because they made her feel whole and worth something in a way that she didn’t feel socially.When Manisha entered finance, she realized there were no teachers or grades, just bosses and money. And so, she developed a profoundly toxic relationship with work, money, success, and accomplishments. Manisha had come to identify her self-worth in her school years with grades. In her professional years, Manisha placed her self-worth in her net worth. Because Manisha was so locked into her identity and sense of self-worth as her achievements at work, she didn’t have friends or hobbies. She worked seven days a week and traveled 40 weeks a year for a decade.One day she was sitting on a plane and had tears streaming down her face. She had piles of paperwork on her small tray that she was trying to work on. All Manisha could think of was that she had no idea how she would make it through the next 48 hours of meetings because she had no energy left.A lady sitting across from Manisha came and gave her this look like she knew what she was going through. The lady opened this expensive-looking silver pill case and pulled out three yellow pills. She handed them to Manisha and told her to take just half a pill. Manisha grabbed the pills like candy. She didn’t even ask what she was putting in her mouth. Turns out it was Valium, and it helped. Manisha was able to calm down. She took another pill the following day and made it through her meetings.Manisha kept this life going until she had two near-death experiences. Both times Manisha wished she’d spent more time with family, that she’d not missed her grandmother’s funeral or the many weddings because she had meetings that were so important.The second near-death experience was her big wake-up call. Manisha had reached this point where she could only stay awake for about five to six hours daily. She found out her body was attacking itself. It took Manisha nine months to get her energy back. During this period, she realized that she had spent the entirety of her adult life on this 24/7 hamster wheel of hustle culture. Manisha was so driven by this mental model of self-worth equals net worth that she didn’t understand the power of the net present value of her future earnings.Lessons learnedWhat we have that’s entirely our own, and we have enormous control over, is our brain and how we use it to generate our future income.Don’t underestimate the incredible power of the net present value of your future earnings. Always protect it.Investing concurrently in your financial health and emotional wealth is the secret formula to maximizing the NPV of your potential future earning stream.Andrew’s takeawaysDon’t be internally driven to work seven days a week. Get away from that.When pressure is on, step back and take time.No.1 goal for the next 12 monthsManisha’s number one goal for the next 12 months is to achieve less.Parting words “If people think that this may be a problem for them, but they’re not quite sure, I put together a really fun quiz at MoneyZen.com. Check it out and see if you’ve gone down the rabbit hole. I want to help pull you out.”Manisha Thakor [spp-transcript] Connect with Manisha ThakorLinkedInTwitterFacebookInstagramYouTubeWebsiteAndrew’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: Dr. Richard Smith – Berkeley Mathematician and Ph.D. in System Science – is a fintech entrepreneur, the CEO of The Foundation for the Study of Cycles, and cofounder of the investment tool Finiac.STORY: Richard invested his entire live savings ($10,000), and in 18 months, it had grown to $40,000. Then suddenly, the investment went down to $30,000. He believed it would go up again, so he held on. Then it went further down to $20,000. Richard kept waiting. Eventually, it went to $10,000, and that’s when he panicked and took out all his money.LEARNING: Integrate trailing stops. It’s hard to do the right thing in the markets. “The markets wouldn’t be as interesting or as potentially valuable if it wasn’t hard. Anything valuable is hard.”Richard Smith Guest profileDr. Richard Smith – Berkeley Mathematician and Ph.D. in System Science – is a fintech entrepreneur, the CEO of The Foundation for the Study of Cycles, and cofounder of the investment tool Finiac.Richard has built a reputation as “The Doctor of Uncertainty” amongst his academic peers and has helped government agencies and Fortune 500 companies make sense of complex data sets.With his background in mathematical theories of uncertainty combined with his investing and trading experience, he is a regular speaker and lecturer and particularly enjoys opportunities to share his knowledge and help others gain an edge in the market.Worst investment everIn 1998/99, during the Dotcom boom, Richard had just started investing while in graduate school. In about 18 months, he’d managed to get his investment account up from $10,000 (his life savings at the time) to $40,000. Richard was over the moon and felt like a real expert investor.Then in March of 2000, all of a sudden, his $40,000 fell to $30,000 practically overnight. Though a significant loss, Richard decided to hold onto the investment and wait until it returned to $35,000. But instead, it went down to $20,000. Again, he said he’d get out when it gets back to $25,000. Finally, it went down to $10,000, and at that point, Richard panicked and got all his money out of the market.Lessons learnedIntegrate trailing stops.It’s hard to do the right thing in the markets.Andrew’s takeawaysAs a new investor, protect your capital first. This allows you to stay in the game, keep learning, and win over time.Actionable adviceGet your head out of the mass media. The opportunity isn’t there if everybody’s looking in the same place. Be willing to look off the beaten path.No.1 goal for the next 12 monthsRichard’s number one goal for the next 12 months is to make his business cash flow positive.Parting words “Stay the course. Remember that it’s time in the markets, not just timing the markets that will bring you success. Targeting the right level of exposure for you is also very important.”Richard Smith [spp-transcript] Connect with Richard SmithLinkedInTwitterYouTubeBlogWebsiteAndrew’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: David Perry was in the video game industry for over 30 years, making hits like The Matrix, Aladdin, The Terminator, and Earthworm Jim. He sold his last company to Sony PlayStation and the one before that to Atari. He’s now building a startup in e-Commerce called Carro.STORY: One of David’s top former employees started a VR company and invited him to invest. Though David believed in this employee, experiencing motion sickness while trying out the VR games made him not invest in what became a multi-billion dollar company.LEARNING: When you really believe in somebody, go ahead and support them. Bet on the person, not the idea. “When you get great people, incredible things tend to happen. So when you’re betting on a CEO, bet on someone who you think can attract talent.”David Perry Guest profileDavid Perry was in the video game industry for over 30 years, making hits like The Matrix, Aladdin, The Terminator, and Earthworm Jim. He sold his last company to Sony PlayStation and the one before that to Atari. He’s now building a startup in e-Commerce called Carro. If you email hello@getcarro.com and mention My Worst Investment Ever podcast, you’ll get VIP personal support.Worst investment everDavid firmly believed that someday, every game ever made would be available on every device everywhere in the world instantly. And so, if that will eventually exist, why not start building it now?With that thought in mind, David began to build that technology and had some massive breakthroughs. He demonstrated that you could play a game from the cloud with the same feeling as playing with a console on your table. That caused people’s heads to pop off. Samsung wanted to work with David to power its video game strategy, and Sony bought the company.David’s employees made significant amounts of money from the company’s success and eventual sale. One of the employees decided to leave and start his own company using the money he had just made from the exit to Sony. As a CEO, David was committed to working with PlayStation. So he was watching this former employee build his own company.The employee contacted David and asked if he’d be interested in investing in his new company. David decided to check out the company. The guy demonstrated what he was working on, which was virtual reality. The company was called Oculus. David sat down and put on the VR headset. Then he started getting motion sickness because he was moving all over the place. He couldn’t wait to finish the demo.David was initially very interested in investing in the company because he genuinely believed in his former employee. But after the motion sickness, he needed time to think about it. He researched and read some military papers on how the military had tried their hardest to stop motion sickness but had found no solution as it’s biological. David decided to pass on the opportunity to be a founding Oculus investor.The company was a huge success and was bought for billions of dollars. David would have made hundreds of millions of dollars had he invested in the company.Lessons learnedWhen you really believe in somebody, go ahead and support them.Bet on the person, not the idea.Andrew’s takeawaysWe get stuck into frames of reference, and sometimes we get beholden to those references, and we can’t think beyond them.Actionable adviceIf there’s something wrong or something missing in an idea or business you want to invest in, ask yourself if there’s anything you can do to help. Can you see a way out of this? If yes, then maybe that would be the thing that unlocks you.David’s recommendationWhatever you want to learn, there is somebody on planet Earth that’s amazing at it and is willing to teach you. Your job is to find that person and do whatever you must to get in a room with them and learn.No.1 goal for the next 12 monthsDavid’s number one goal for the next 12 months is to grow his company and get it to a point where it’s crystal clear what they’re doing and why they’re doing it.Parting words “Think of a question that 100% of people will say yes to, and then go after that.”David Perry [spp-transcript] Connect with David PerryLinkedInTwitterBlogWebsiteAndrew’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 mentionedDavid Perry, David Perry on Game Design: A Brainstorming ToolBoxKen Robinson and Lou Aronica, Finding Your Element: How to Discover Your Talents and Passions and Transform Your Life.

BIO: Tom Wall holds a Ph.D. in Retirement Income Planning, with original research on Whole Life as a Fixed Income Alternative under the advisement of industry thought leaders: Wade Pfau, Michael Finke, and Stephen Parrish.STORY: Tom got pulled into the Bitcoin frenzy in 2018 and made huge gains. He had also invested in an NFT performing really well and made 15X his investment. Tom took his investment from the NFT and invested the money in Bitcoin. Then Bitcoin’s value dropped, and Tom lost almost half of his investment.LEARNING: If you make some money, sell, or at least take half off the table. Have a piece of your portfolio that is continually growing but also accessible. “If you make any gain, take back your original investment, and let your gain ride.”Tom Wall Guest profileTom Wall holds a Ph.D. in Retirement Income Planning, with original research on Whole Life as a Fixed Income Alternative under the advisement of industry thought leaders: Wade Pfau, Michael Finke, and Stephen Parrish. His focus on academics and selling from a place of integrity comes from a 20-year career of positioning whole life insurance and competing against its alternatives.Recently he published Permission to Spend: Maximize Your Retirement with the Best-Kept Secret in Personal Finance. Starting in college as an award-winning advisor with Northwestern Mutual before moving his practice to MassMutual, he subsequently grew his career in prominent home office sales and marketing leadership roles.Tom has been a well-known storyteller at nationwide perennial company conferences and firm meetings. Tom now coaches and consults with financial advisors, hosts the Whole Life Masterminds study group, and authors multiple original thought leadership pieces, books, and other content.Worst investment everIn 2017/18, Tom’s friends started texting him about this thing called Bitcoin. He had heard about it before but dismissed it because he couldn’t find it anywhere or buy it. But when his friends started talking about it, he got interested and decided to invest in it. At the time, Bitcoin was at $2,000. Tom invested $10,000, and in just a year, Bitcoin’s value was $20,000. Tom made some really good money.Then the NFT craze started, and there was one in particular that Tom believed in, and he bought it. The NFT went up about 15 times his investment. Tom was pleased. Then he decided to move the NFT winnings to Bitcoin, but unfortunately, Bitcoin had started going down at the time. Tom lost over half the value of his gains.Lessons learnedIf you make some money, sell, or at least take half off the table.A bird in the hand is absolutely worth two in the bush.Have a piece of your portfolio that is continually growing but also accessible.Andrew’s takeawaysIf you make some gains, take 50% off the table, and keep the other 50%.No.1 goal for the next 12 monthsTom’s number one goal for the next 12 months is to add value to as many people as possible and be the voice of reason in the insurance space.Parting words “Go out there and take those risks. Just make sure you do it responsibly and take those gains off the table when you get them.”Tom Wall [spp-transcript] Connect with Tom WallLinkedInBlogWebsite Andrew’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: Rick Warner is a personal development coach, mentor, and highly respected real estate broker based in California. Rick’s story is one of triumph over adversity.STORY: Rick took his money from well-performing stocks and decided to time the market. After much waiting, he came across the First Republic Bank’s stock, whose share price had fallen from $300 to $30. He bought 700 shares at $29 each. The price kept falling. Rick bought 700 more shares at $13, hoping the price would turn around, but it didn’t. The bank was bought out, and the shares went to zero.LEARNING: Do a lot of research before investing. Banks are very volatile, so you must be careful when investing in them. “Availing myself to others, reading books, learning stuff, and listening to people like you has been my biggest game changer.”Rick Warner Guest profileRick Warner is a personal development coach, mentor, and highly respected real estate broker based in California. Rick’s story is one of triumph over adversity. At 20 years old, he found himself homeless and addicted to drugs. But with the help of a supportive community, he was able to turn his life around. Now, over 30 years later, Rick remains committed to personal growth and helping others achieve success. He has developed the Navigator program, a groundbreaking approach to personal productivity and purposeful living.Worst investment everRick had made some pretty good investments in stocks about three years ago. Then he felt things would go sideways, so he took all his money off the table. Rick’s plan was to wait and time when the market was right to reinvest. He waited and waited, but the market kept going up and stayed up, so Rick couldn’t get in until recently with the banking crisis.First Republic Bank’s stock, previously $300, had gone down to $30. He figured this was what he’d been waiting for. Rick bought 700 shares for $29 each, and by the end of that day, it had gone down to $21.The stock price kept falling; at some point, it was $13. Rick figured this was a big well-known bank with a good reputation and had done lots of business, so the stock price would eventually turn around. With this in mind, he decided to double down and bought another 700 shares. Three weeks later, the share price was $3. JP Morgan later bought the bank, and the shares went to zero.Lessons learnedDo a lot of research before investing.Andrew’s takeawaysWhen investing in banks, you invest in a highly speculative asset.Banks are very volatile, so you must be careful when investing in them.If you invest in something and it starts to go down, and you never thought it would, there’s nothing wrong with getting out. You can always get in again at another point.Actionable adviceAvail yourself to the people that have been around before you and be willing to ask them for help instead of doing everything yourself. Learn from other people’s mistakes instead of waiting to make the mistakes yourself.Rick’s recommendationRick recommends reading The Four Agreements, a simple guide on personal development. You can also look Rick up on his website if you want to just have a conversation or if you need mentorship.No.1 goal for the next 12 monthsRick’s number one goal for the next 12 months is to make his real estate business location independent so he can spend more time in his coaching and mentoring program.Parting words “Thank you so much for having me on the show, Andrew.”Rick Warner [spp-transcript] Connect with Rick WarnerLinkedInFacebookInstagramWebsiteAndrew’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: Mohit Tater is a serial entrepreneur, investor, and consultant. He founded BlackBook Investments and quickly became a recognized expert investor in online businesses and digital assets.STORY: Mohit got enticed by the numbers his favorite pizza shop was turning and decided to start his own shop. Since he and his partner had no experience in the F&B industry, they were to receive full support from the franchise owner. Unfortunately, the owner went into a coma before the shop opened. The partners tried all they could, but the shop eventually failed.LEARNING: Don’t venture into an industry you don’t understand and chase high returns. You don’t know what you’re getting into until you are in it. “It’s more difficult to execute something you don’t know. Try and stick to something that is already working for you.”Mohit Tater Guest profileMohit Tater is a serial entrepreneur, investor, and consultant. He founded BlackBook Investments and quickly became a recognized expert investor in online businesses and digital assets. Mohit has extensive experience in SEO, content marketing, social media marketing, and conversion rate optimization. He has worked closely with brands such as eBay, Groupon, Microsoft, Nokia, and many more on their digital marketing strategies. Today, Mohit lives his passion as an investor, growing online businesses for himself and his clients.Worst investment everMohit would visit a pizza place in his city every so often. One day he casually talked to the manager about how many pizzas they sell daily, what the operations are like, how much it costs to start a pizza shop like that one, etc. The numbers the manager shared with Mohit were very lucrative and enticing.Mohit set up a meeting with the owner of the franchise. He seemed very positive, and the numbers looked good. The guy had the whole business plan mapped out for expansion. Mohit and his business partner decided to open a pizza shop with the manager’s support, who would hire the team for them and ensure that the operations ran smoothly. Mohit and his partner had no experience in this business. Still, they believed they’d learn eventually and hopefully turn around and make a profit.The partners spent $100,000 setting up the shop, and just before it was about to open, the franchise owner got a stroke and went into a coma. This guy was the brains behind branding, marketing, operations, and everything, basically. Without him, Mohit and his partner were like sitting ducks. They had no option but to continue with the plan because they had spent so much money building it.The team the franchise owner had hired came and tried to run the pizza shop as efficiently as possible. But they were not turning a profit. The partners were just putting more money every month into sustaining and still not breaking even. Both partners had no experience with the F&B industry, and even though they tried all they could, the shop eventually failed.Lessons learnedDon’t venture into an industry you don’t understand and chase high returns because it’s not as easy as it looks from the outside.Unless you have good experience in an industry, don’t bother putting your money at stake. Learn about it first.You don’t know what you’re getting into until you are in it.You have to dedicate time to your business.Andrew’s takeawaysGet into a business knowing that unexpected things are going to happen.You think you can control all the variables, but you can’t.Only buy a company you understand where you can add value to its core.Actionable adviceTry and stick to what you know and what’s already working for you.Mohit’s recommendationMohit recommends you visit his website, BlackBook Investments, and click on the investor questionnaire to see if you’re a good fit to invest in online businesses.No.1 goal for the next 12 monthsMohit’s number one goal for the next 12 months is to be at a point where he’s not needed in his business and his team can still handle everything.Parting words “Do what you know best and stick to it until it works for you.”Mohit Tater [spp-transcript] Connect with Mohit TaterLinkedInTwitterInstagramWebsite Andrew’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: As the owner of Apollo Assets Co Ltd, Mr. Vorathep Srikuruwal is a prominent figure in the real estate industry of Thailand. He has established a track record and extensive experience as a visionary leader in this field.STORY: Vorathep came across a bank property he thought would be a good investment. He bought it for half its value and even got the bank to give him a loan. His biggest mistake was never visiting the property in person before buying. If he had, he’d have seen its terrible state.LEARNING: If you’re thinking of buying anything, whether cheap or expensive, first go there, and have a look. Just because it’s cheap doesn’t mean you have to buy it. “Walk through that property, touch it, and do a lot of homework before you buy it.”Vorathep Srikuruwal Guest profileAs the owner of Apollo Assets Co Ltd, Mr. Vorathep Srikuruwal is a prominent figure in the real estate industry of Thailand. He has established a track record and extensive experience as a visionary leader in this field.His business acumen has enabled Apollo Assets Co Ltd to reach great heights, placing it among the leading players in the Thai real estate industry.Having earned a reputation for excellence, innovation, and integrity, Vorathep continues to contribute to the growth and development of the Thai real estate market.He is happy to offer free real estate consultancy, whether buying /selling/renting/leasing or prelim valuations of the assets in Bangkok and the rest of Thailand.Worst investment everVorathep started his real estate business in 2007 as a family business. About 10 years later, after building about seven projects, Vorathep saw an opportunity to buy two commercial shophouses in Chiang Mai, Thailand. The building was on the main road, just two minutes from one of the CBDs. The property belonged to a bank.Vorathep did a lot of homework before investing in the property. He checked the location and everything nearby (using Google Maps). He also used his knowledge of Chiang Mai to evaluate the property. The market valuation for the shophouses was $400,000. The property was roughly 800 square meters in size. The four-story building had a rooftop that could be converted into a lovely boutique hotel, office, or restaurant.The real estate mogul told the bank he’d be interested in getting the property for $200,000 because it was a non-performing asset. Three months later, the bank called and said he could have the property for $200,000. He just had to pay 1% of the value ($2,000), and the bank would provide him a loan for the property for another eight years. The deal seemed too good to be true. Vorathep did the math and saw that if he rented the property, he’d get about $4,000, pay $2,500 to the bank, and make a profit of $1,500 monthly. It was a good deal, so he accepted it.Vorathep put a for rent sign on the building, but six months later, he had no tenants. This shocked him because the building was in a decent location with a bank, shops, hotels, and a university nearby. After two years of paying the bank loan out of pocket, Vorathep decided to do something because the building was still not bringing in any income. He visited the building for the first time. Yes, Vorathep didn’t do a property visit before paying for it. He had relied on the photos the bank had sent him and Google Maps.The building was in a horrible state; no wonder nobody wanted to rent it. A year later, Vorathep flew to Chiang Mai after the COVID lockdowns. He went to the building next door and spoke with the owners, mother and son. He offered to sell the building to them. They were interested in buying it for $150,000, but Vorathep got them to pay $220,000. He didn’t make any profit from that sale.Lessons learnedIf you’re thinking of buying anything, whether it’s cheap or expensive, first go there, and have a look. Don’t judge the book by the cover.Andrew’s takeawaysJust because it’s cheap doesn’t mean you have to buy it.Be very careful when purchasing bank properties.No.1 goal for the next 12 monthsVorathep’s number one goal for the next 12 months is to take more care of himself and run the 21km half marathon.Parting words “Thank you very much!”Vorathep Srikuruwal [spp-transcript] Connect with Vorathep SrikuruwalLinkedInFacebookWebsiteAndrew’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: Phil Bak is the CEO of Armada ETFs, a REIT-specialty asset manager that delivers customized solutions to REIT investors through ETFs, SMAs, and proprietary AI and machine learning REIT valuation models.STORY: Phil got into baseball cards when he was 14. Rookie Greg Jeffries became the hype one year and was poised to be the next big thing. Phil bought the hype, sold all his cards, and invested in Jeffries’ cards. He believed cards would be worth $40 to $50 a piece in just a few years. It never happened because Jeffries’ career didn’t pan out, and the entire baseball card bubble collapsed.LEARNING: Be slow to jump onto bandwagons. Expect the unexpected, be prepared, and have a backup plan. Be diversified in as many different ways as possible. “As long as you can recognize your mistake, learn and grow from it, then you understand that investing is a risky business. That will make you a smarter investor.”Phil Bak Guest profilePhil Bak is the CEO of Armada ETFs, a REIT-specialty asset manager that delivers customized solutions to REIT investors through ETFs, SMAs, and proprietary AI and machine learning REIT valuation models. Phil has previously served as the Founder/CEO of Exponential ETFs (acquired by Tidal Financial Group), Chief Investment Officer at Signal Advisors, and Managing Director at the New York Stock Exchange.Phil is the author of two patents on innovative ETF structures and has led market structure enhancements that have become industry standard. Phil has been featured in top-tier media outlets such as the Wall Street Journal, Bloomberg, CNBC, Financial Times, and Reuters. Phil hosts The Phil Bak Podcast and writes regularly on Substack.Worst investment everAt 14, Phil got interested in baseball cards after accompanying his brother to card shows. He saved all the money he made from his summer jobs and bought Roberto Clemente cards, which were like a blue chip. With time he also bought other cards.The following year, a young guy was coming up, Greg Jeffries, who was poised to be the next big thing. Phil bought the hype. He sold all his cards and decided to invest in just this one card. He got himself a bounty of 25-30 Greg Jeffries cards.Phil believed this guy would be the next big superstar, and his cards would be worth $40 to $50 a piece in just a couple of years. It never happened because Jeffries’ career didn’t pan out, and the entire baseball card bubble collapsed. Phil still has a stack of Greg Jeffries rookie cards that are literally worthless somewhere in his closet.Lessons learnedBe slow to jump onto bandwagons.Expect the unexpected, be prepared, and have a backup plan.Be diversified in as many different ways as possible.Andrew’s takeawaysThere are many risks around the corner that you only know about once you get some experience. So be very careful, mindful, and try to learn as much as possible, but don’t put all your money down.Actionable adviceThe worst time to invest in anything is after a big run because there’s always an element of mean reversion and cyclicalities. Never chase the hype, be patient. If you’ve missed it, wait for the next opportunity. There’s always there’s another opportunity coming.Phil’s recommendationPhil recommends learning from untraditional channels such as podcasts (like My Worst Investment Ever podcast), books, blogs, and substacks. You’ll learn more and faster from such media.No.1 goal for the next 12 monthsPhil’s number one goal for the next 12 months is to finish the series A round of capital for his company and ensure he can execute his plan over the next three years.Parting words “Stay curious. Thanks for having me on. It was a ton of fun. I appreciate it.”Phil Bak [spp-transcript] Connect with Phil BakLinkedInTwitterWebsite BlogPodcastAndrew’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 Podcast

BIO: Jack D. Schwager is a recognized industry expert on futures and hedge funds and the author of the iconic Market Wizards series, in which he interviewed about 70 trading legends of our time.STORY: Jack stayed too long in a position where his short was the strongest and his long the weakest, even though he knew this wasn’t the way to invest.LEARNING: Never stay in a position that violates something that you believe in. In every position, know where you’ll get out before you get in. “A mistake is not a trade that loses money. It’s a trade where you did something that violated whatever your approach is that makes money over time.”Jack Schwager Guest profileJack D. Schwager is a recognized industry expert on futures and hedge funds and the author of the iconic Market Wizards series in which he interviewed about 70 trading legends of our time.His most recent work in the series is Unknown Market Wizards, published in November 2020. Previous books in the series include Market Wizards (1989), The New Market Wizards (1992), Stock Market Wizards (2001), Hedge Fund Market Wizards (2012), and The Little Book of Market Wizards (2014). His other books include the revised edition of A Complete Guide to the Futures Markets (2017). Market Sense and Nonsense (2013), Getting Started in Technical Analysis (1999), and the three-volume Schwager on Futures series (1995-96).Worst investment everIn late 2008, the world was falling apart. Jack looked at certain things like the metals index, down about 80%. He thought China was still an emerging market growing rapidly and had every reason to continue growing. Jack believed that this economy would come back somewhat.So, Jack decided to buy ETF calls on China and the metals as far out as he could, assuming that the longer the time, the more likely they were to come back. He bought them deep out of the money, so they were pretty cheap.Several years later, Jack still had that position. Instead of just taking the profits, he hedged himself by selling the S&P Retail ETF (XRT) and the NASDAQ ETF. Jack put himself in a spread position where he was short NASDAQ and the retail index and long China.One day, China dropped 2%, and the XRT rose 2%. So Jack’s long position went down 2%, and his short position went up 2%. So he got a 4% loss on position in a single day. Essentially, you want to be long the strongest and short the weakest. Jack’s position was precisely the opposite. Instead of getting out of the position, he stayed, hoping it would return in a bit, but it didn’t. Jack eventually got out but lost most of his profits.Lessons learnedEnsure your long position is the strongest, and the short position is the weakest.Never stay in a position that violates something that you believe in.Always have a set maximum amount that you’ll risk on any investment to prevent you from losing too much on any investment.Andrew’s takeawaysSometimes you just have a good idea, but at the wrong time, and it’s ok to quit and come back when the timing is right.Actionable adviceIn every position, know where you’ll get out before you get in.Jack’s recommendationJack shares a list of his top 10 investing books:Reminiscences of a Stock OperatorDiary of a Professional Commodity Trader: Lessons from 21 Weeks of Real TradingFooled by Randomness: The Hidden Role of Chance in Life and in the MarketsFortune’s Formula: The Untold Story of the Scientific Betting System That Beat the CasinosThe Quants: How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed ItMore Money Than God: Hedge Funds and the Making of a New EliteOption Volatility and Pricing: Advanced Trading Strategies and TechniquesWhen Genius Failed: The Rise and Fall of Long-Term Capital ManagementWhat I Learned Losing a Million DollarsThe Man Who Solved the Market: How Jim Simons Launched the Quant Revolution [spp-transcript] Connect with Jack SchwagerLinkedInTwitterWebsite BooksAndrew’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 Podcast

BIO: Sampark Sachdeva has 12 years of corporate experience across Asian Paints and other businesses.STORY: Sampark let the security of his corporate job distract him from building a business out of his love for training. It wasn’t until COVID struck and he found himself without a job that he decided to work on the plan. The business turned out to be a huge success.LEARNING: Nothing good comes easy. Don’t let job security restrict you from pursuing your entrepreneurial dreams. “No matter how bad your situation might be, the victim card can only be played once. You can’t keep playing that card again and again.”Sampark Sachdeva Guest profileSampark Sachdeva has 12 years of corporate experience across Asian Paints and other businesses. He was awarded the best digital coach of 2021 at the India coaching awards. He was a TEDx speaker in 2020 and won the LinkedIn Spotlight Award in 2019, recognizing him as one of India’s top content creators. Paul Ryder and Oracle also awarded Sampark as a top marketing and sales professional in 2019.Sampark has trained over 20,000 people across 125 sessions across 10 countries. He has over 125,000 followers across social media channels.Worst investment everSampark had an excellent corporate career. He was with Asian Paints, India’s largest paints company, for over five years. In 2015 he moved to Ola, the Indian Uber, and was there for three years. Then he moved to Oyo, the country’s largest hospitality brand, for another two years. Sampark won the Top 100 Marketing and Sales Professionals Award during this career journey. So yes, everything was going well on the corporate side.On the passion side, Sampark had been writing on LinkedIn for close to six years. He’d posted over 2000 posts in 2019 and won the LinkedIn Spotlight Award. Everything seemed rosy, and Sampark felt this was the time to take off.In 2020, Sampark moved into a new role in the same organization. But that’s when COVID struck. He was in the hospitality industry, leading corporate events. He had just been in that role for a few months when the lockdown occurred. In one day, everything stopped.Sampark sat down with his family, and they looked at their savings. They could survive for a couple of years with what they had. Sampark decided to explore a plan he had put on the back burner. Sampark loved training, and after getting the content creator award, he consulted his mentors on how to make something out of his love for training.They all advised him to work on the plan for the next three to four years and then look at how to do it long-term. But when the lockdown started, the three-year plan became an overnight plan. Sampark decided to give himself four months to execute the plan. If it didn’t work, he still had a corporate career to return to after the lockdown.At the end of four months, Sampark did a review and realized the training business was going better than he expected. He gave himself another four months, and it was still going well. He continued doing it until April 2022, when an old boss offered him a job. Sampark turned down the job because his business was doing well. He had trained close to 80,000 people and had a lot of clients in the pipeline. Sampark’s only regret is having waited for so long to start his passion venture.Lessons learnedAs a corporate professional, you’re restricted by your own thoughts and the false sense of security.Running a business is a hustle because now you have to do everything alone.Networking is crucial. But remember, it’s not about transactional relationships; it’s about giving and genuinely investing in that relationship professionally.Andrew’s takeawaysNothing good comes easy.Always have a plan B.Recognize the role of luck in life. Sometimes the world accelerates your plans, and sometimes, it kicks you in the ass.Actionable adviceAlways have confidence, be positive, and leave your comfort zone. Keep reinventing yourself, learning, and upskilling.Sampark’s recommendationSampark recommends two online courses on his website:Becoming a Champion of LinkedIn: teaches you how to use LinkedIn to build your personal brand and how to build a network on the platform.How to Be a Rockstar at Work: teaches you how to upscale your career and fast-track your profile even in a job scenario.No.1 goal for the next 12 monthsSampark’s number one goal for the next 12 months is to go full throttle into corporate training across three verticals: personal branding and LinkedIn, sales and marketing, and employee capability building.Parting words “Be positive. Be confident and keep building on your brand. Trust me, sooner or later, you’ll reach where you want to go. I might be a little later due to whatever obstacles that come by, but you’ll reach where you deserve to be.”Sampark Sachdeva [spp-transcript] Connect with Sampark SachdevaLinkedInFacebookInstagramYouTubeWebsite Andrew’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 Podcast