My Worst Investment Ever Podcast

BIO: Tony Pawlak is a full-time stock trader and options instructor at Real Life Trading. It’s his life mission to help others face their fears and live their dreams.STORY: Tony lost almost $100,000 in trading. More than half of this was bank loans and credit card limits.LEARNING: If you view the markets as a get-rich-quick method, it will burn you. Assess risk before you go in and manage it when sizing your position. “Stop trying to get rich overnight, and invest in yourself.”Tony Pawlak Guest profileTony Pawlak is a full-time stock trader and options instructor at Real Life Trading. It’s his life mission to help others face their fears and live their dreams.Worst investment everTony ran a trucking company for years, spending 60 to 80 hours weekly. After eight years in the family business, he was out of shape, miserable, depressed, and felt he was wasting his life. Tony had a feeling that he should go into trading. So for a year or two, he would listen to podcasts and try to learn as much as he could. Finally, he felt the time was right to quit the job and go to trade full time.Tony started with a $30,000 trading account and believed he’d turn it into $500,000 in just a couple of months. In just a month, Tony had blown the $30,000. He had $20,000 set aside to pay bills for a couple of months. He took that out and put it in his trading account. That amount lasted another three weeks until it dwindled down to about a couple of thousands.Tony went to the bank, took a $20,000 loan, and put it into his trading account. That loan lasted another month and a half. He went back to the bank a second time and got another loan. Tony lost that too. The third time he went to the bank, they gave him a couple of credit cards worth $15,000.Tony wanted to abandon day trading for something more consistent. He decided to try credit spreads and built a trading strategy he hadn’t seen elsewhere. Tony spent about three weeks just figuring out the ins and outs of the process and finally put it to work. He started making $1,000 to $2,000 weekly on his $15,000 account. Tony began getting pretty efficient, earning enough to pay off bills and loans, including some credit cards.Tony was going strong for about six or seven months until he saw this one trade outside his plan—day trading a credit spread. He jumped on it, thinking this was it. Tony put on half of his account on this one credit spread. Soon after, the markets reversed and started going against his trade. Tony figured he’d hedge it. He lost on that first hedge. Tony hedged again and lost. He kept hedging, and before he knew it, he’d lost the entire loan amount in one day.Lessons learnedDon’t quit; get up and find a way.If you view the markets as a get-rich-quick method, it will burn you.Succeeding in trading has nothing to do with knowledge but everything with managing risk.Have the right perspective to make money in the markets.Making money is not hard. You just need to know where to look and what to do.Andrew’s takeawaysStop stressing about the outcome and focus on the process.Understand all the different emotions involved in trading because everything that’s happening in the market is a physical reaction going on in your body.Borrowing money and leveraging it is a number one risk factor.There are lessons you could only learn by losing. So embrace your losses and mistakes.You’ve got to find your trading style.Assess risk before you go in and manage it when sizing your position.Actionable adviceInvest in yourself and get coaching from people that you trust, that are currently doing it, and that have done it.Tony’s recommended resourcesVisit Tony’s website, Real Life Training to join coaching sessions with him and learn the trading skill.No.1 goal for the next 12 monthsTony’s number one goal for the next 12 months is to help 200 people replace their income through trading.Parting words “The only thing standing between you and your dreams is fear. You just got to walk through it. That’s it.”Tony Pawlak [spp-transcript] Connect with Tony PawlakYouTubeWebsiteAndrew’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 PodcastFurther reading mentionedJason Zweig (September 2008), Your Money and Your Brain: How the New Science of Neuroeconomics Can Help Make You Rich

BIO: Mark Graban is an author, speaker, consultant, and podcaster. His podcasts include Lean Blog Interviews, Habitual Excellence, and My Favorite Mistake. He’s also affiliated with the technology company KaiNexus and the healthcare advisory firm Value Capture.STORY: Two of Mark’s worst investments were investing $4,000 in a company he knew nothing about and living in denial about his ADHD diagnosis for over 20 years.LEARNING: Be careful when choosing individual stocks. Don’t be in denial about things. You’re beautiful as you are. “If you think you might have a problem, you probably have a problem. It’s worth talking to a professional to get help.”Mark Graban Guest profileMark Graban is an author, speaker, consultant, and podcaster. His podcasts include Lean Blog Interviews, Habitual Excellence, and My Favorite Mistake. He’s also affiliated with the technology company KaiNexus and the healthcare advisory firm Value Capture.His books include his most recent, titled Measures of Success: React Less, Lead Better, Improve More.He has a BS in industrial engineering from Northwestern University and an MS and an MBA from MIT.His website with all of his books, podcasts, and more is MarkGraban.com.Worst investment everIn early 2000, Mark was trying to get started with a retirement account when a colleague told him about a stock they had invested in. The colleague raved about how the stock had skyrocketed, making them a lot of money. The company was called Commerce One. Mark didn’t know anything about it and didn’t do any research. He just took his colleague’s advice and invested $4,000. Before long, the value fell by about 50%.Another one of Mark’s worst investments is living in denial about his ADHD diagnosis. He has struggled with attentiveness, especially at work in meetings and conferences. He would often blame and shame himself for not paying attention. He regrets not doing something about it 20 years ago.Lessons learnedBe careful when choosing individual stocks. Let professionals do it for you through diversified mutual funds or index funds.Don’t be in denial about things.Don’t shame yourself for your differences.Andrew’s takeawaysIf you’re struggling with anything, don’t be afraid to talk about it.You’re beautiful as you are.No.1 goal for the next 12 monthsMark’s number one goal for the next 12 months is to write a book based on the lessons from the My Favorite Mistake podcast series.Parting words “Embrace the idea of transparency and openness when you’ve made a mistake at work.”Mark Graban [spp-transcript] Connect with Mark GrabanLinkedInFacebookTwitterInstagramYouTubePodcastWebsiteBookAndrew’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: Emma Mumford is the UK’s leading Law of Attraction expert. She is an award-winning life coach, mentor, Law of Attraction YouTuber, and 2x bestselling author.STORY: Emma took a £7,000 loan on behalf of her boyfriend to help him pay off a previous loan. They broke up a month later, and he never paid back a cent of the loan.LEARNING: Don’t focus more on the negative part of a bad situation; instead, focus on the positive. Look at your biggest loss as your biggest opportunity. “At this moment, a situation may feel awful, but in hindsight, it could lead you to your best situation.”Emma Mumford Guest profileEmma Mumford is the UK’s leading Law of Attraction expert. She is an award-winning life coach and mentor, Law of Attraction YouTuber, 2x bestselling author of her books Positively Wealthy and Spiritual Queen, speaker and podcast host of the popular podcast Spiritual Queen’s Badass Podcast. Emma’s work helps people turn their dream life into an abundant reality using the Law of Attraction and spirituality. Emma’s work has helped hundreds of thousands of people globally over the last 8 years across her two businesses, ‘Extreme Couponing and Deals UK’ as Coupon Queen, back in 2013 and here now with her spiritual work.Worst investment everIn 2012, Emma worked as a banking manager in one of the UK’s leading banks. She was 18 years old and straight from college. Emma had no experience or the right qualifications to do it. She hated working at the bank because she had to put people in debt daily. The worst part was seeing people’s desperation when they couldn’t fulfill their financial obligations. Emma got depression very quickly from that role.At the same time, she was in a really negative relationship. It was her first serious relationship, and she lived with the person. The man had a lot of debt he hadn’t told Emma about. Soon, the bailiff started turning up at their door demanding payment. Emma wanted to help him get the bailiff off his back, and because she got preferential rates at the bank, she decided to take out a loan on behalf of the boyfriend. She took a £7,000 loan for her boyfriend, thinking it was the adult best decision of her life.Within a month, they broke up, and he hadn’t paid back a single penny of that loan. Emma found out that he had £30,000 worth of debt. Her depression worsened to the point that she couldn’t even turn up to work, so she had to leave her well-paying job. It became tough to pay the loan off because she wasn’t earning much money. Emma moved back to her parents and picked herself back up. The ex-boyfriend never paid back a single penny to this day.Lessons learnedDon’t focus more on the negative part of a bad situation; instead, focus on the positive.In every situation, ask yourself what is in your control, what you’re able to do in that situation, and What’s the most loving thing you can do for yourself. Then make empowered decisions from that.Andrew’s takeawaysLook at your biggest loss as your biggest opportunity.Do the inner work; it pays off.Actionable adviceLearn about the law of attraction, start taking responsibility, do better and be better.Emma’s recommended resourcesRead Emma’s second book, Positively Wealthy, if you want to dip your toes into the law of attraction and do your funnel or manifestation challenge. It’s a 33-day guide to manifesting sustainable abundance and wealth.No.1 goal for the next 12 monthsEmma’s number one goal for the next 12 months is to relax, enjoy, and soak up in all the amazingness she has worked hard for. [spp-transcript] Connect with Emma MumfordLinkedInFacebookTwitterInstagramYouTubePodcastWebsiteBookAndrew’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: Gavin Wren is a founder, consultant, and content creator from London, helping the world learn more about food. His background in media has seen him photographing food around the world for the likes of National Geographic and writing in the national press.STORY: Gavin’s worst investments have been the relationships he’s put in a lot of effort and time to build, only to realize they weren’t beneficial for him.LEARNING: Don’t bend yourself out of shape for people. Learn to walk away from bad situations. “Don’t be a people pleaser. It doesn’t get you anywhere.”Gavin Wren Guest profileGavin Wren is a founder, consultant, and content creator from London, UK, helping the world learn more about food. His background in media has seen him photographing food around the world for the likes of National Geographic and writing in the national press. Today he helps organizations develop their strategy for the future of sustainable food whilst also creating content on TikTok, which reaches millions of people each month. He’s the founder of three businesses and a non-profit but loves nothing more than good pizza or strong espresso.Worst investment everGavin’s worst investment over the years has been investing in the wrong relationships. Spending months or years building relationships that weren’t beneficial to him has been worse than losing money. According to Gavin, one can get over financial losses quickly. You’ll be depressed for a few days or weeks, and then you get over it and move on. But the bad personal business relationships are pretty insidious, and you never quite recover from them.One instance Gavin recounts is this person with a lot of influence and power he badly wanted to work for. Gavin wanted to be part of their circle and work with them. He did everything he could, got close to the person, and started working with them. Gavin soon realized that there was a misalignment of values, and something just didn’t sit right with him about this person. But Gavin kept pushing because he knew he wanted to be associated with that person. A year later, Gavin was stuck, intensely stressed, and always anxious. Eventually, he stopped working for that person, which was the biggest relief ever because he didn’t get anything out of it. All he did was do a lot of work for very little money.Lessons learnedTrust your gut.If stress and anxiety arise around a person, question whether that relationship has a long-term benefit.Drop your ego and do the work that you want to do and that you enjoy. Not the work that you think someone else is going to enjoy.Don’t bend yourself out of shape for people.Speak your mind and be honest.Andrew’s takeawaysLearn to walk away from bad situations and just bite the bullet.Actionable adviceBefore forming bonds with people, ask questions to get more information and decide whether those are the right bonds.No.1 goal for the next 12 monthsGavin’s number one goal for the next 12 months is to keep growing his TikTok account and find a way to start monetizing it.Parting words “Just keep trying to help people and learn in the process.”Gavin Wren [spp-transcript] Connect with Gavin WrenLinkedInTwitterInstagramTikTokAndrew’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

15 Risk Reduction Lessons from My GuestsIn this episode, Andrew Stotz explains the 15 risk reduction lessons he has learned from his guests.Download the The Investor's Risk Reduction Checklist.1 Get the power of compounding working for you now, and don’t interrupt it.Dan Solomon from Ep434:  The Time to Start Investing Is Now2 Do your own research before making any investment. Do not rely on others.Travis Watts from Ep381: Do Your Due Diligence and Keep Your Investment SimpleCurt Mercadante from Ep438: Not Every Home Is an InvestmentFurqan Aziz from Ep441: Validate Every Idea You Invest Time In3 Have a rigorous thought process when evaluating investments, and stick to that process.Shashank Randev from Ep352: There Is No Surefire Formula to Venture Capital Investing4 Expect long-term returns of about 8% and consider that investments above that could be “too good to be true.”Pete Alexander from Ep284: Pete Alexander – If the Real Estate Deal Sounds Too Good to Be True, It Is5 Build a network of experienced professionals who can give you input.Sarah Larbi from Ep177: Build a Network of Successful Role Models to Avoid this Real Estate Investing Mistake6 Always spend time considering the risk before investing.Furqan Aziz from Ep441: Validate Every Idea You Invest Time In7 Size your position according to your ability to handle a loss. If the risk is high, start small.Furqan Aziz from Ep441: Validate Every Idea You Invest Time InEric Rosenberg from Ep403: Start Investing by Making Regular Monthly ContributionsKittisak Kovintavewat from Ep432: Kittisak Kovintavewat – Be an Investor, Not a Speculator8 Consider the “unknowns” with any investment idea.Daniel Ramsey from Ep159: When Investing in Real Estate Take Your Time to Remove the Unknowns9 Invest in things that you can quickly exit. If you can’t, demand a very high return and deploy a small amount of your money.Pete Alexander from Ep284: Pete Alexander – If the Real Estate Deal Sounds Too Good to Be True, It Is10 Walk away from an investment as soon as you realize it’s not going to work.Furqan Aziz from Ep441: Validate Every Idea You Invest Time InShashank Randev from Ep352: There Is No Surefire Formula to Venture Capital Investing11 Remember that past success does not guarantee future success.Randy Mortensen from Ep444: Randy Mortensen – Past Success Doesn’t Guarantee Future Success12 When investing in a foreign country, consider the risks of both the asset and the currency.Santiago Iñiguez from Ep324: Sometimes Your Worst Investment Can Bring You the Most Joy13 Focus on company performance, not only stock price.Kittisak Kovintavewat from Ep432: Kittisak Kovintavewat – Be an Investor, Not a Speculator14 Invest in good quality companies rather than betting on poor companies turning around.Kittisak Kovintavewat from Ep432: Kittisak Kovintavewat – Be an Investor, Not a Speculator15 Expect that some of your investment ideas will fail; not every stock you pick will be a winner.Eric Rosenberg from Ep403: Start Investing by Making Regular Monthly Contributions 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

12 Steps to Financial IndependenceDownload the 12 Steps to Financial Independence cheat sheet.In this episode, Andrew Stotz explains the 12 steps to financial independence.1. Have no written financial plan2. Allow others to complicate your investing3. Think short term; start too late4. Want to get rich quick in the market5. Rely on others too much6. Make big mistakes early in life7. Do not save enough money8. Underestimate the impact of fees9. Take too much risk10. Ignore bonds in favor of stocks11. Trade too much12. Try to time the market 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: Dr. Chris Stout is a licensed clinical psychologist and international humanitarian with a diverse background in various domains. He is the Founding Director of the top-ranked nonprofit Center for Global Initiatives.STORY: Two years after Chris started the Center for Global Initiatives, he met a couple who had a project for developmentally different children in orphanages in Ukraine. They wanted to collaborate with the center, and he said yes because the project looked good. Unfortunately, he realized that he couldn’t manage to take a week off every year to go to Ukraine. Chris had to back out of this project, which left him very emotional for not being able to help.LEARNING: Plan for the end so that you know what happens when things don’t go well. “Planning for the end will help you decide what happens when things don’t go well, and you need to make a pivot.”Dr. Chris Stout Guest profileDr. Chris Stout is a licensed clinical psychologist and international humanitarian with a diverse background in various domains. He is the Founding Director of the top-ranked nonprofit Center for Global Initiatives. He works as the Executive Producer and Host of the popular “Living a Life in Full” podcast, a top 5% show with an audience reach of 3 million+.He was a Fellow in the School of Public Health and a Full Professor in the Department of Psychiatry in the College of Medicine at the University of Illinois, Chicago. Before that, he held an academic appointment at Northwestern University’s Feinberg School of Medicine.Worst investment everChris set out to summit all the Seven Summits, starting with Kilimanjaro. While at it, he met a seminarian, and they hit it off quickly. The two stayed in touch for years. At some point, the seminarian became the chaplain at two hospitals in Tanzania. Chris decided to help him and shipped several materials over for the kids for Christmas. The process cost him a fortune, and some materials got lost along the way.Chris talked to his mentor about his desire to keep helping the children in Tanzania and the hurdles he faced. The mentor advised him to start a nonprofit organization and have people donate to support his cause. Chris got in touch with the mentor’s wife, a lawyer dealing with nonprofits. She made the IRS application and other applications and got the approval. Chris constituted a board and went out to do great charity projects worldwide.In 2009, two years after he started the nonprofit, a couple from Ukraine came to him and told him they had a project they thought would be a good collaboration for his nonprofit. The project was to support developmentally different children in orphanages in Ukraine. The couple was applying for a grant from USAID, and one of the three-year grant requirements was a quarterly visit to Ukraine to assess the project. Chris was the one to be in charge of the projects. Unfortunately, he couldn’t take four weeks every year to attend to matters in Ukraine. Unfortunately, the nonprofit had to back out of this project which left Chris very emotional for not being able to help.Lessons learnedPlan for the end. Think about how what you’re getting into will end. Planning for the future will help you decide what happens when things don’t go well, and you need to make a pivot.Chris’s recommended resourcesCenter for Global Initiatives website has a tools and resources page for this interested in the nonprofit area. You’ll find tips, lectures, webinars, free downloadable books and articles, scientific articles, and more.The Living a Life in Full podcast for broader aspects such as startups, finance, travel, motorcycle art, and more.No.1 goal for the next 12 monthsChris’s number one goal for the next 12 months is to have a better mindset of how to do what he feels he still needs to do with the remaining time. [spp-transcript] Connect with Dr. Chris StoutLinkedInTwitterFacebookYouTubePodcastBooksBlogWebsiteAndrew’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: Ron Baker is the founder of VeraSage Institute—the leading think tank dedicated to educating professionals internationally. He’s also a radio talk-show host of The Soul of Enterprise: Business in the Knowledge Economy on Voice America.STORY: Ron partnered with a group of friends and invested $70,000 to start a software company. All the partners had no experience or skills to run the business leading to its failure.LEARNING: Seek out successful people and try to learn from them. Learn from your losses. “When it comes to business, you’ve got to have your total skin in the game.”Ron Baker Guest profileRon Baker started his CPA career in 1984 with KPMG’s Private Business Advisory Services in San Francisco. Today, he is the founder of VeraSage Institute—the leading think tank dedicated to educating professionals internationally—a radio talk-show host on Voice America; the show is The Soul of Enterprise: Business in the Knowledge Economy.Ron has authored seven best-selling books, including The Firm of the Future; Pricing on Purpose; Measure What Matters to Customers; and Implementing Value Pricing. His forthcoming book, Time’s Up!: The Subscription Business Model for Professional Firms, will be published in November 2022.Worst investment everRon partnered with a couple of friends and started a software company. He invested about $70,000 into the company. The group wanted to write a software program to help firms value price. They hired a software engineer and spent a lot of money to get the program going.They were all delusional and believed they were sitting on top of something radical and innovative. Their most significant setback was their lack of skills and experience in building a software company. All the partners also had other jobs and were treating business as a side-hustle, not paying it the full attention it needed. Needless to say, the business wasn’t successful.Lessons learnedSeek out people who are successful and try to learn from them.Make sure that you have partners who have skin in the game.Andrew’s takeawaysLearn from your losses. If you lose money, at least make sure you gain knowledge from the experience.Never overlook the randomness of success and failure.Focus more on avoiding loss by reducing your risk as much as you focus on growth and success.Actionable adviceDon’t be delusional and go into business just to confirm your biases. Keep in mind that business is much more complicated than most people think.Ron’s recommended resourcesImplementing Value Pricing for anyone who wants to learn more about pricing.Time’s Up!: The Subscription Business Model for Professional Firms for anyone who wants to understand the subscription model. Ron believes that in five years, we’ll have the option to subscribe to everything, so now is the time to perfect your subscription business.No.1 goal for the next 12 monthsRon’s next project is to get his upcoming book Time’s Up!: The Subscription Business Model for Professional Firms published and then go and speak and evangelize about it. [spp-transcript] Connect with Ron BakerLinkedInTwitterFacebookPodcastBooksAndrew’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

12 Barriers to Financial IndependenceDownload the 12 Barriers to Financial Independence cheat sheet.In this episode, Andrew Stotz explains the 12 barriers to financial independence.1. Have no written financial plan2. Allow others to complicate your investing3. Think short term; start too late4. Want to get rich quick in the market5. Rely on others too much6. Make big mistakes early in life7. Do not save enough money8. Underestimate the impact of fees9. Take too much risk10. Ignore bonds in favor of stocks11. Trade too much12. Try to time the market 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

10 Harsh Realities Shaping Our FutureDownload the 10 Harsh Realities cheat sheet.In this episode, Andrew Stotz identifies and explains 10 harsh realities shaping our future.Politicians created the mess we are inThe Fed is going to crash the marketEurope (esp. Germany) is destroying itselfIt’s a US-Russia, not a Russia-Ukraine showdownGov’ts pushed 100m people into poverty and starvationAmerica openly states that China is enemy #1The US, not China, is the biggest global threatWorld leaders are not nearly as wise as they may appearMass refugee influx is being used as a political tool to cause social disruptionGermany is rearming 77 years after WWII1. Politicians created the mess we are inThey kept interest rates too low for too long. They shut down global economies, destroying supply chains and reducing the supply of goods. They borrowed to finance massive spending, and they produced unparalleled money printing. They bailed out the bond market in 2020. They allowed the war in Ukraine to escalate, causing food shortages. 2. The Fed is going to crash the marketThe Fed pumped up the stock market with a decade of ultra-low interest rates. This low-interest rate policy incentivized borrowing, leading to corporate malinvestment. Now the Fed is raising rates into what looks to be a recession. 3. Europe (esp. Germany) is destroying itselfGermany and Europe had no reason to stop oil and gas from Russia. They had been improving commercial relationships (Remember: Trade brings peace). Germany’s transition to green energy didn’t produce the energy needed to replace its fossil fuel and nuclear power wind-down. Rising energy prices are crippling German industry and consumers. 4. It’s a US-Russia, not a Russia-Ukraine showdownThe US sees Russia as its arch-enemy and has been closing in on it since the 1991 break up of the Soviet Union. Since 2008, the US, through its proxy, NATO, has been trying to get on Russia’s borders by bringing Georgia and Ukraine into NATO. Don’t be deceived by US concern for Ukraine. Ukraine is just a means for the US to get at Russia.3 April 2008: Bucharest Summit Declaration, Paragraph 23: “NATO welcomes Ukraine’s and Georgia’s Euro-Atlantic aspirations for membership in NATO…Today we make clear that we support these countries’ applications for Membership Action Plan.” 5. Governments pushed 100 million people into poverty and starvationGlobal economy lockdowns were estimated to have pushed 100 million people into poverty. As many as 70 million of them are in India. Instead of negotiating peace, experts expect that the continued war in Ukraine will push 100 million people into starvation, most of them in Africa.All the while, the rich get richer at a faster pace. According to The Guardian, “The 400 richest Americans added $4.5tn to their wealth last year [2020], a 40% rise….” 6. America openly states that China is enemy #1China had considerable respect for America and US capitalism and benefits from being a friend, not an enemy of the US. The US Department of Defense now openly states that China is America’s #1 enemy, and you can expect the US to pursue this policy until it provokes a war with China.“The Department will act urgently to sustain and strengthen deterrence, with the People’s Republic of China (PRC) as our most consequential strategic competitor….” – US Department of Defense 7. The US, not China, is the biggest global threatUS gov’t recognizes Taiwan as part of China. In January 1979, the US recognized the PRC as the sole legal gov’t of China and acknowledged, but did not endorse, that Taiwan is part of China.Hong Kong was forcibly taken and established as a colony of the British Empire in 1841 and eventually handed back to China.Since 1986, the US has participated and interfered in the replacement of foreign governments, e.g., Afghanistan, Bolivia, Bosnia, Croatia, Haiti, Honduras, Iran, Iraq, Kyrgyzstan, Liberia, Libya, Macedonia, Palestine, Panama, Paraguay, Philippines, Somalia, Sudan, Syria, Ukraine, Yugoslavia, and Zaire (Congo). 8. World leaders are not nearly as wise as they may appearThe Greens of Germany got it wrong.US pharmaceutical regulators may have put the companies they regulate above the people they represent. Big Pharma spends massively on lobbying politicians and media. The regulators are captured; in Australia 96% of the regulator’s budgets are paid by Pharma, in Europe the number is 89%, in the UK 86%, in Japan 85%, and in the US 65%. The industry has been fined US$87bn since 2000.Fed officials aren’t as smart as they appear. Yellen and Powell both said inflation is transitory and now say that a recession isn’t coming. Econ 101 tells us that a reduction in the supply of goods and an increase in money supply both cause inflation. 9. Mass refugee influx is being used as a political tool to cause social disruptionEurope (mainly Germany) has been absorbing refugees fleeing mostly US conflicts. US Democrats are allowing massive migration across its southern border. In April 2022, more than 234,000 people entered the US illegally, the highest in a single month in recorded US history. A 1,376% increase from April 2020 under the Trump administration.And famine is likely to increase migration flows from Africa. 10. Germany is rearming 77 years after WWIIGermany was disarmed after WWI by the Treaty of Versailles. Then broken into four zones after WWII, led by Americans, British, French, and Soviets. From 1945 the Allies destroyed military equipment, armies, and industry capacity. In 2022, the German government approved a €100bn military defense budget, double 2021, making it the world’s 3rd largest military spender. To achieve this, they needed to amend its constitution and a two-thirds majority in both chambers of parliament.  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