My Worst Investment Ever Podcast

BIO: Kirk Chisholm is a wealth manager and principal of Innovative Advisory Group and Host of the popular podcast Money Tree Investing.STORY: Kirk shares his thoughts regarding the current status of the global markets.LEARNING: Always check your assumptions. Cash is now safer than bonds. Now is not the time to buy. “Everything you think you know about investing is now wrong.”Kirk Chisholm Guest profileKirk Chisholm is a wealth manager and principal of Innovative Advisory Group and Host of the popular podcast Money Tree Investing.He and his firm specialize in Risk Management, Inflation, Self Directed IRAs, Alternative Investments, and advanced tax strategies.They truly are outside-the-box thinkers in everything they do, and as you will hear on this show, Kirk is a unique and all-around interesting guy.Worst investment everKirk is not new to the My Worst Investment Ever podcast. He made a previous appearance on episode 138. You can go back and listen to his experience of investing internationally in a Chinese coal company. Today he doesn’t delve into his investment mistakes but rather shares his thoughts regarding the current status of the global markets.We come to our opinions by someone else giving them to usKirk believes that we form our opinions based on other people’s points of view. You may imagine that you think independently, but that’s actually not true. What happens is you do something, and your brain justifies it afterward.When you form an opinion, most likely it’s after listening to someone else’s point of view. For instance, you may have been watching the news and then forming an opinion. That’s how our brain works. When you understand this, you’ll be able to look at the world differently.There is a paradigm shift going on in the marketsA paradigm shift is happening in the markets, and most people either aren’t aware of it or they’re not respecting it. For the last 40 years, we’ve had declining interest rates and declining inflation. In the US, interest rates and inflation peaked in 1981 and have been going down for 40 years. In the last 40 years, we’ve had an enormous bull market in bonds, stocks, real estate, and pretty much everything. We’ve had asset growth, wealth creation, and abundance across the spectrum for the last four years.However, this year the paradigm has changed. We have inflation at eight and a half percent, and the old paradigm won’t work in this type of market. The old paradigm supported the buying and holding strategy and viewed cash as bad. This strategy, however, doesn’t work in a recession or a bear market. It’s just a great strategy during a bull market.Always check your assumptionsInvestors have been making assumptions based on the 40-year market. In large part, investors assumed that real estate always goes up, which was wrong. This assumption caused the whole system to implode. So we always have to check and reassess our assumptions. Better still, if you understand the inflation part, you’re gonna be so far ahead of everybody.Cash is now safer than bondsBonds have moved from a safe investment to a risky one. Cash is now safer. Stay away from the growth areas and focus more on the value areas because value tends to do well in recessions. This doesn’t mean you won’t lose money. It just means you’ll be safer.Real estate is really dangerousThe biggest problem with real estate is that it’s illiquid. If you’re a homeowner and don’t need to move in the next five to ten years, you have nothing to worry about as long as your mortgage is fixed and not variable. You’ll still be fine if you get to 50% interest rates. However, if you plan to move in the next five years, sell now and rent.Is now the time to buy?Kirk has been through the ups and downs of the markets, and he knows what a bottom and a top feel like. According to his experience, we’re not at the bottom. The interest rates aren’t going to stop rising—at least for the next four months, according to Wall Street’s picks. It’s probably going to be longer than that. So if you’re wondering if it’s the right time to buy, no, it’s not. It’s better to stay on the sidelines until we see things easing up. Don’t take any risk in any asset because it’s not worth it.The worst times are ahead of usWe’re heading to the worst times. But, it’s not going to be worse forever. We might have about six to 24 months when the markets will probably get progressively worse. Then we’re going to hit a period where everything’s really low, and the market will bounce back. This means there will be good buying opportunities in the next 10 years. Stocks will get cheaper, and you could find some fantastic deals, even if they’re at a higher nominal price from a valuation perspective.Andrew’s takeawaysWe’re getting close to a global price equilibriumWe’ve had 40 years of declining interest rates and inflation, and there was not much that the Fed or anybody could do about it. There were deflationary forces that were overpowering money printing, and as the US sent its inflation abroad, wages and other things rose in other countries while Americans enjoyed lower prices. But now, wages abroad are much higher, and we’re suddenly getting close to an equilibrium.Taking a career riskMost people who are active fund managers are incentivized to hug the index because they’ll suffer if they underperform.The hindsight biasYou may think you have an independent mind, but basically, we’re given our opinions by media and other sources and then justify them afterward. In other words, we can only see what happened in hindsight.Stay put in your house, for now, don’t sell itIf you own a house right now with a 30-year fixed mortgage and a reasonable interest rate, ride it out. Don’t do anything; you’re in good shape. Just like getting a bond, if you hold it to maturity, you’ll get the yield initially promised.Bonds are still unattractiveBonds and equities aren’t an attractive investment right now. Cash is gold (not trash) when everything’s falling. So if you have the opportunity to hold cash, then take the chance.Shift to the new paradigmForget the old paradigm of buying on dips. Just focus on getting cash because, in the next six to 24 months, there will be some great opportunities to invest in. [spp-transcript] Connect with Kirk ChisholmLinkedInTwitterYouTubePodcastWebsiteAndrew’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 SimpleBest Business Book ClubBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Randall Crowder is an entrepreneur, angel investor, and venture capitalist who is currently the Chief Operating Officer (COO) of Phunware, a publicly-traded technology company on NASDAQ.STORY: Randall spent too much time being a venture capitalist when all he ever wanted was to be an entrepreneur.LEARNING: Sometimes, the easy way is absolutely the wrong way. Don’t just take what’s right before you, especially when you know it’s not what you want to do. Nothing good comes easy; you must fight or work for the good things in your life. “Know who you are and what you want to do, and don’t settle for the easy way when you know the right way.”Randall Crowder Guest profileRandall Crowder is an entrepreneur, angel investor, and venture capitalist who is currently the Chief Operating Officer (COO) of Phunware, a publicly-traded technology company on NASDAQ.Worst investment everRandall had been an angel investor for over five years and felt it was time to hang those boots. He partnered with a few people and ventured into a healthcare tech venture fund. The idea was to invest in healthcare companies. The fund performed well, but Randall still considers this his worst investment ever, not because he lost any money, but because he wasn’t being true to himself.He had always wanted to be an entrepreneur so starting a venture fund didn’t fulfill this desire. However, he kept finding a reason to justify staying at the fund. From not having an idea he’s passionate about to maybe he’d learn the venture capital side of things to be a better entrepreneur. All these excuses convinced him to continue running the fund. Randall felt miserable doing a job that was never what he set to do, and he knew it.Lessons learnedHave the discipline to think about what you’re most passionate about and go for it no matter how hard it is to get it.Sometimes, the easy way is absolutely the wrong way.Don’t just take what’s right before you, especially when you know it’s not what you want to do.Know who you are and what you want to do.Don’t settle for the easy way when you know the right way.Be careful whom you choose to start a business with.Andrew’s takeawaysStarting a business is a long-term venture. So when picking your business partners, choose people you want to work with long-term.Andrew believes three things make one company successful over another:The right leaderThe right directionCoordination of the efforts of the management teamNothing good comes easy; you must fight or work for the good things in your life.Actionable adviceSchool is not your resource; your resourcefulness is your resource. You can be resourceful even if you don’t have money, status, or connected parents. You just have to be willing to put yourself out there and try to create fire.No.1 goal for the next 12 monthsRandall’s number one goal for the next 12 months is to do his best to be the best father and husband he can be.Parting words “Everybody’s got their own journey, and sometimes it might rub you the wrong way. But always be kind and look for ways to help other people; I guarantee you, it’ll be more rewarding and your best investment.”Randall Crowder [spp-transcript] Connect with Randall CrowderLinkedInTwitterFacebookYouTubePodcastWebsiteAndrew’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 SimpleBest Business Book ClubBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Lance Depew has over 30 years of equity research, portfolio management, and corporate finance experience.STORY: Lance’s worst investment was in a company called Transocean. He bought shares on in 2006 at $80.35 a share. He ultimately exited the position in 2020, when the shares sold at less than $1 a share.LEARNING: Regardless of how smart you are and how much homework you do, things can go wrong when investing. Take steps to de-risk your positions. “Despite your best-laid plans, things can still go wrong.”Lance Depew Guest profileLance Depew has over 30 years of equity research, portfolio management, and corporate finance experience.Since 2000, he has co-managed Railay Capital Partners, L.P., a global multi-strategy absolute return hedge fund.Between 1994 and 2007, Lance was a portfolio manager and director of equity research for Leading Assets United Ltd., the premier asset management firm dedicated to both public and private equity investments in the Thai market.Mr. Depew received his MBA in finance at the Anderson Graduate School of Management at UCLA and is currently a member of the investment committee for the Santa Barbara Museum of Natural History.Worst investment everLance’s worst investment was in a company called Transocean. On January 30th, 2006, Lance’s fund management company bought the shares at $80.35 each. They ultimately exited the position on October 7th, 2020. The last sale took place at less than $1 a share.At the time Lance was investing, Transocean had about a billion dollars of net debt, which was pretty modest relative to its market cap, which was below the $20 billion range. It wasn’t a highly leveraged company, nor was it trading at a high multiple. The utilization rates for the various assets in the industry were also very high. Further, Transocean was the number one company in terms of dividends paid to investors. The company looked like it would be an excellent investment with all these factors.Unfortunately, several things went wrong, leading to a steep share price fall. The first problem was the global financial crisis.The second problem was the 2010 deepwater explosion in the Gulf of Mexico. This crisis weighed on transactions and significantly impacted the stock price. The third problem occurred in March 2020 when the Saudi Arabia and Russia oil price war kicked in as the two countries were duking it out in the global commodity markets. This war tanked the oil price for some time.The fourth problem was the global pandemic. There was complete and sudden demand destruction that ultimately led to the price of oil dropping into negative territory for a brief period. Lessons learnedRegardless of how smart you are and how much homework you do, things can and will go wrong when investing.Don’t let one lousy investment weigh on your psyche. Just continue to plug away. Over time, you’ll be rewarded if you invest wisely.Invest in value, and you’ll get positive returns on investment.Investments can turn sour despite attempts to understand a company and an industry entirely. So you just got to anticipate that there are going to be unforeseen events during your investment journey.Occasionally, resort to timely sales as a way of de-risking your positions and bringing back some return on your investment.Andrew’s takeawaysYou’ll lose despite your best efforts as a fund manager, so have a risk management plan in place.Take steps to de-risk your positions.Try and get different opinions on what you’re trying to invest in.Actionable adviceRead as much as possible—especially financial journals such as the Wall Street Journal. Do as much research as possible and learn as much as you can about companies and industries, macroeconomic conditions, global events, etc. This will help you when it comes to putting your portfolio together.No.1 goal for the next 12 monthsLance’s number one goal for the next 12 months is not to lose money and to earn positive rates of return on investment.Parting words “Thank you very much for your time, Andrew. I wish everyone the best of luck this coming year.”Lance Depew [spp-transcript] Connect with Lance DepewLinkedInAndrew’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 SimpleBest Business Book ClubBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Vijay Pravin Maharajan is the Founder and CEO of bitsCrunch GmbH, a Blockchain Analytics company focused on securing the NFT ecosystem.STORY: Vijay lost over 90% of his savings after investing blindly in cryptocurrency.LEARNING: Do thorough due diligence before investing in anything. Don’t follow people blindly. “Before you spend your money, take your time to research the investment.”Vijay Pravin Maharajan Guest profileVijay Pravin Maharajan is the Founder and CEO of bitsCrunch GmbH, a Blockchain Analytics company focused on securing the NFT ecosystem.He has a masters in Electrical Engineering and Information Technology from Technische Universität Munchen (TUM), Germany. Vijay is a 3x TEDx Speaker.He’s also the first Indian to be invited for a TEDx talk in Germany below 30. He was nominated as ‘Top Men Leaders to look up to in 2021’ by Passion Vista magazine. He was also awarded as ‘Top 40 Data Scientists under 40’ in India. And finally, he was nominated as ‘20+ Inspiring Data Scientists to follow in 2020’ by AI (Artificial Intelligence) Time Journal from the United States.He previously worked a Siemens Mobility, Volkswagen AG, and Telefónica GmbH in Germany.Worst investment everAfter completing his master’s in Munich, Vijay’s friends pulled him into the crypto space. He took close to 80% of his savings and put them into crypto. Vijay ended up losing almost 90% of his investment. His biggest mistake was not doing any research. He just followed his friends blindly.Lessons learnedDo thorough due diligence before investing in anything.Don’t follow people blindly.Andrew’s takeawaysNever invest in something that somebody told you about.Don’t get caught up in the emotion of new investments.Actionable adviceSpend time, not money, before you invest. First, take your time to research the investment.No.1 goal for the next 12 monthsVijay’s number one goal for the next 12 months is to go out there, educate more people about the NFT space, and be a good father.Parting words “Thanks, Andrew. You’re saving a lot of people from getting screwed up or getting lost.”Vijay Pravin Maharajan [spp-transcript] Connect with Vijay Pravin MaharajanLinkedInTwitterFacebookYouTubeInstagramWebsiteAndrew’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 SimpleBest Business Book ClubBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Taimur Baig heads global economics and macro strategy for interest rate, credit, and currency at DBS Group Research.STORY: Taimur invested in his friend’s hedge fund that was dealing with Iraqi stocks. He lost 50% of his investment after the country entered a war three years later.LEARNING: Don’t get swayed by the upside and forget about the downside. Always analyze the risks, especially when the deal seems too good. “Don’t get swayed by greed and the potential upside, and forget about the downsides.”Taimur Baig Guest profileTaimur Baig heads global economics as well as macro strategy for interest rate, credit, and currency at DBS Group Research. He is a Director Fellow at the Asian Financial Think Tank and a council member of the Economic Society of Singapore.Before joining DBS in 2017, Taimur was a Principal Economist at the Economic Policy Group, Monetary Authority of Singapore. Earlier, he spent nine years at Deutsche Bank, where his last position was Managing Director and Chief Economist, Asia.During 1999-2007, Taimur was based in Washington, DC, at the headquarters of the International Monetary Fund, where his last position was Senior Economist. He is the host of the Kopi Time Podcast.Worst investment everIn 2012, Taimur’s friend—a Wall Street success story—who ran a hedge fund was pivoting to geopolitical bets. The idea was to invest in stocks in countries just recovering from war. Taimur was impressed by his success in the 2000s and had a lot of respect for him. So he started following the setting up of this fund.The fund’s first investment idea was Iraq. The country had had 10 years of massive conflict. But after a decade of death and destruction, the country was coming together, and there was some peace in place. There was huge potential for the US Iraqi stock market to make an earnings growth of about 40% a year. This was the mother of all bull markets to latch on to.Taimur had little understanding of the institutional nature of the Iraqi capital market. Still, he trusted his friend, who had made trips around Baghdad with US Marines and talked to entrepreneurs and the people who were to set up and run the new Iraqi stock exchange. It all seemed very good.The fund launched in 2012, and Taimur invested in it. By the end of 2013, things were going really well, and the value of the investment was growing steadily. Then the insurgency began, and the following years got terrible in terms of security, as well as deep disappointment in the Iraqi government’s ability to channel oil resources to support Iraq’s economic rejuvenation.In 2016, Taimur’s friend called him from New York and informed him that he would shut the fund down. He said he’d pay Taimur 50% of his investment in that fund.Lessons learnedDon’t get swayed by greed and the potential upside, and forget about the downsides.Be careful when investing with friends.You don’t have to reach for the stars and be super greedy when investing.Andrew’s takeawaysJust because something sounds cool doesn’t mean it’s gonna be cool.No matter how exciting an investment opportunity is, don’t get too excited and forget to analyze the risks.Actionable adviceGetting into an illiquid investment is a bad idea for the average investor. Investing in liquid things is far more preferable.No.1 goal for the next 12 monthsTaimur’s number one goal for the next 12 months is to be a faster runner. He also wants to solve the six sides of the Rubik’s Cube a little faster.Parting words “Just keep listening to My Worst Investment Ever. It’s an awesome podcast.”Taimur Baig [spp-transcript] Connect with Taimur BaigLinkedInTwitterYouTubePodcast 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 SimpleBest Business Book ClubBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Jem Bourouh is 24 years old and a serial entrepreneur from Germany. With his Google Ads agency Adcubator, Jem and his team have spent more than $318 million profitably.STORY: Jem’s worst investment ever was enrolling for a Bachelor’s degree without thinking clearly about what he wanted to do with his life after university. This saw him try out many things that failed due to a lack of proper focus. He is yet to finish his degree.LEARNING: XXX “Don’t pursue something you’re genuinely unhappy with just because you think it’s something you need, or you think society will like it.”Jem Bourouh Guest profileJem Bourouh is 24 years old and a serial entrepreneur from Germany. With his Google Ads agency Adcubator, Jem and his team have spent more than $318 million profitably. After being in the direct-to-consumer space for more than 4 years, he’s decided to bootstrap his own e-commerce brands and invest in and acquire other businesses such as marketing agencies and e-commerce brands.Worst investment everJem’s worst investment ever was enrolling for a Bachelor’s degree without thinking clearly about what he wanted to do with his life after university. This saw him try out a myriad of things that failed due to a lack of proper focus.His dream was to be a millionaire; he just didn’t know how to become one. So while studying, he started doing different jobs and even tried to learn internet marketing. Jem started his first dropshipping venture and failed miserably after three months. After this, he changed universities and moved to a new city. Jem is still enrolled at this university and is yet to finish his degree.Lessons learnedFirst, understand what you want to do and for who you’re doing it.Always strive for greatness in life.Andrew’s takeawaysFocus on the journey to get to the goal.Follow one course until success.Maybe it’s worth returning to that thing you’re very close to completing, but you put it aside for various valid reasons.Actionable adviceIf there’s something that you don’t enjoy and are genuinely unhappy with, then there is no point in pursuing that path just because you think it’s something you need or you think society will like it.No.1 goal for the next 12 monthsJem’s number one goal for the next 12 months is to grow his company, eCom Incubator, and train more people.Parting words “Don’t stop; you’ve got this. Believe in yourself, and don’t ever quit. Just pursue what you want to do with intimacy, and you’ll make it. You’re gonna be happy no matter what.”Jem Bourouh [spp-transcript] Connect with Jem BourouhLinkedInFacebookTwitterInstagramYouTubeWebsiteAndrew’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 SimpleBest Business Book ClubBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast

BIO: John Lawson is an award-winning entrepreneur and best-selling author. His entrepreneurial spirit helped him achieve a level of success that few obtain.STORY: A friend convinced John to buy a house and flip it. He took a loan and got into the project. The friend was in charge of the renovations and made changes, which reduced the home’s value and made it impossible to sell for a profit. John was stuck with the home for eight years.LEARNING: Never depend on other people to watch your money. Monitor your investment consistently. “Never depend on other people to watch your money.”John Lawson Guest profileJohn Lawson is an award-winning entrepreneur and best-selling author. His entrepreneurial spirit helped him achieve a level of success that few obtain. After consulting Fortune 100 companies at Accenture, he took his expertise to the world of small business, today mentoring entrepreneurs on topics such as social commerce, online marketing tactics, and e-commerce strategies.John is a small business power player listed as one of the Top 50 SMB Influencers by All Business. Recognized for his work in e-commerce, John received two Small Business Influencer awards from SmallBusinessTrends.com and won “Business Book of The Year” for his book “Kick Ass Social Commerce for E-prenuers.”Worst investment everAround 2000, John worked in consultancy, making a decent salary. A friend suggested to him that they start flipping houses. The idea was for John to finance the project and the friend to oversee it, then split the profit 50/50.The house was in a bad neighborhood in Georgia but close to the city. Some gentrification plans were going on where the whole neighborhood would be turned into a more livable area. John took a loan to buy and repair the house. The loan terms were that he would pay it back after three months. From his calculations, this would be enough time to flip and sell the house. So John signed the paperwork, and work started. He was still working full time, so he couldn’t follow up with the project in person. John visited the house a few days before selling, and everything looked good. But he noticed they had turned the three-bedroom home into a two-bedroom one. This change reduced the house’s value, and now it was going to be hard to make any money back and pay the loan.John got a 30-day extension from the bank but had to come up with $21,000. There was no way he would make that kind of money from the house that had just been turned into a two-bedroom. John started looking for other ways to make money. A friend told him about eBay, where he sold old programming books and made some money. He ran out of books and needed more ways to make money.John read in a Sunday morning newspaper about getting free inkjet printers after a rebate. He went on a mission to collect as many free printers as possible. John would then sell the printers and the ink cartridges separately on eBay. He then got into selling Tickle Me Elmo dolls and made enough money to pay off his loan, but he was still stuck with the house. He only managed to sell it off eight years later.Lessons learnedNever depend on other people to watch your money.No matter what you’re experiencing, just persevere. That pressure will make you stronger.Andrew’s takeawaysTurn your pain into motivation to make a change.Don’t just start a partnership with someone you don’t trust yet.Monitor your investment consistently. Otherwise, it could go south pretty quickly.Actionable adviceBe careful with real estate. Understand what you’re getting into because real estate will bind you for many years.John’s recommended resourcesFeeling overwhelmed and want to get your time back? Get his FREE How To Hire a VA guide.No.1 goal for the next 12 monthsJohn’s number one goal for the next 12 months is to go to Thailand and live there for at least three months.Parting words “I’m totally stoked. Thank you.”John Lawson [spp-transcript] Connect with John LawsonLinkedInBookWebsiteAndrew’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 SimpleBest Business Book ClubBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Keith Johns helps corporate leaders who are feeling stuck in their 9-5 break free from corporate by building and scaling a purpose-driven business.STORY: Keith came across two Facebook marketing programs and bought them for five figures because he didn’t want to miss out. He only had time to implement one of the programs. He is yet to implement the second one to date.LEARNING: Don’t let the fear of missing out (FOMO) push you to do something before you’re ready. Don’t let emotions or flawed thinking affect your investment decision. “Pay attention to your emotional state when investing.”Keith Johns Guest profileKeith Johns helps corporate leaders who are feeling stuck in their 9-5 break free from corporate by building and scaling a purpose-driven business. Keith believes you’re not crazy for wanting more, and you can have more purpose, freedom, income, and free time in your work.Worst investment everKeith quit his job to start a coaching business. When he was ready to diversify where he marketed his services, he invested in two Facebook marketing programs. Keith bought the two programs for five figures.It was only after he paid for the programs that he realized he had made an emotional decision out of fear of being left out. Now he didn’t have the time to integrate two Facebook systems simultaneously. One program is still lying somewhere on the back burner, unimplemented.Lessons learnedPay attention to your emotional state when investing.Before you invest, have a plan. Consider talking to someone with more experience who can help you navigate those waters more successfully.Don’t be in a hurry to invest in anything you don’t understand. There will always be plenty of entry opportunities at different moments.Don’t let the fear of missing out (FOMO) push you to do something before you’re ready.Andrew’s takeawaysDon’t let emotions or flawed thinking affect your investment decision.Actionable adviceThe minute you’re inspired, have an idea, or are excited about something, share that excitement so somebody else knows what you’re up to.Keith’s recommended resourcesRead Questions Are the Answer: A Breakthrough Approach to Your Most Vexing Problems at Work and in Life more at ease and more comfortable knowing I don’t have to have all the answers, but I could be the most effective person in the room if I listen better and ask better questions.No.1 goal for the next 12 monthsKeith’s number one goal for the next 12 months is to take his business, get it running and then leave other people to run it so he can have time to do other things.Parting words “I really appreciate the time. If anyone’s interested in contacting me, I’m on LinkedIn, reach out and say hi; I’d love to have a conversation.”Keith Johns [/spp-transcript] Connect with Keith JohnsLinkedInAndrew’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 SimpleBest Business Book ClubBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Nick Karadza and his brother Tom quit their jobs in the software industry to start Rock Star Real Estate. The company has over 60 people and works with thousands of clients who have purchased billions of dollars in income property across Ontario.STORY: Nick bought his first fixer-upper property when he was 21. What he thought would be a quick-fixing job turned out to be much more work than he had anticipated. After much hard work, he sold the property and made a negligible profit.LEARNING: Understand the real estate market before you invest in it. “Whoever handles the most crap wins.”Nick Karadza Guest profileNick Karadza was buying rental properties around the Greater Toronto Area. He couldn’t find anyone to help him find the data he needed to make educated decisions about local investment property. Together with his brother Tom, they quit their jobs in the software industry to start Rock Star Real Estate.What began as two brothers working out of a closet with zero clients has turned into a team of over 60 people, working with thousands of clients, who have now purchased billions of dollars in income property all across Ontario.They have authored three books, host a growing podcast, and run an educational membership program with over 1,000 clients, and 22 different instructors lead classes.The entire purpose of Rock Star Real Estate is to help Canadians build and buy assets that will help them live life on their own terms.Worst investment everNick bought his first property when he was 21. He believed it would be a straightforward process where he’d buy the property, fix it, sell and make his money. Well, it was a lot more work than Nick had anticipated.He was working full-time at the time, so he had to wake up early in the morning and work late at night fixing the property. Nick put in long hours fixing the property and then sold it and made a profit of $4,000. The overall return investment was negligible for the amount of work and time Nick put into that property.Lessons learnedHave a great understanding of the real estate market segments before you start investing.You’ll have bigger opportunities if you stop worrying about the little stuff and level yourself up to more significant problems.Hands-on investment experience allows you to grow as a person, and the skills you gain open new doors for you.People want to grow their network with people that can identify and solve problems.Andrew’s takeawaysYou’ll find many opportunities when you learn to identify problems and solve them.Actionable adviceLook for more information to get a little bit more of an understanding before you get into real estate.Nick’s recommended resourcesGrab Nick’s free books that cover Canadian real estate.No.1 goal for the next 12 monthsNick’s number one goal for the next 12 months is to find bigger problems, turn them into opportunities and see where that takes his company.Parting words “Andrew, I think what you’re doing is great, and if anyone’s listening, opportunities are always out there. Just go grab them.”Nick Karadza [spp-transcript] Connect with Nick KaradzaFacebookPodcastYouTubeWebsiteBooksAndrew’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 SimpleBest Business Book ClubBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Miguel Rodriguez is the CEO of the US Presidential Service Center. He has retired from an outstanding US government career and is currently a facilitator with the George Washington University Graduate School of Political Management Program.STORY: Miguel was actively involved in developing government contracting with companies. Some of these companies would take his ideas and start side projects without his knowledge. This led him to learn the importance of protecting his intellectual properties the hard way.LEARNING: Always have an NDA with you before pitching your ideas. Get compensated for your intellectual property. “Protect your intellectual property right from day one when entering any business transaction.”Miguel Rodriguez Guest profileMiguel Rodriguez is the CEO of the US Presidential Service Center. He has retired from an outstanding US government career and is currently with the George Washington University Graduate School of Political Management Program as a facilitator.Worst investment everMiguel was actively involved in developing government contracting with companies. He didn’t realize for a very long time that in the course of this consulting, he was exposing his intellectual properties to the companies he was working with. Some of these companies would take his ideas and start their own projects on the side without acknowledging Miguel as the owner of these ideas. It wasn’t until he learned just how much he was losing that Miguel started copywriting his intellectual properties.Lessons learnedWhenever you engage in any business discussion where you’re presenting your ideas or works, ensure everyone involved signs an NDA that protects intellectual property from going beyond that discussion.If there’s a need for anyone to own your intellectual property, ensure that you receive a monetary return from that.Andrew’s takeawaysBe careful when bidding for a massive project. Don’t let the excitement make you do anything to get it because you may lose something in the process and still not land the project.Actionable adviceProtect your intellectual property right from day one when entering any business transaction. Before you give your pitch, let everyone know your deliverables and how you expect to be paid.No.1 goal for the next 12 monthsMiguel’s number one goal for the next 12 months is to develop strong relationships with other companies worldwide that will work together to build jobs and address food shortages in Africa and Latin America.Parting words “Don’t be discouraged by failure because it’s in failure that we learn. So take that failure and keep moving forward.”Miguel Rodriguez [spp-transcript] Connect with Miguel RodriguezLinkedInWebsiteAndrew’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 SimpleBest Business Book ClubBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast