My Worst Investment Ever Podcast

BIO: Joseph Hogue graduated from Iowa State University after serving in the Marine Corps. He worked in corporate finance and real estate before starting a career in investment analysis. He has appeared on Bloomberg and CNBC and led a team of equity analysts for a venture capital research firm.STORY: Joseph bought stocks in an energy company at a time when industry prices were low with the hope that the company would outperform the market, but it didn’t. He lost $30,000 in the investment.LEARNING: Always look at debt-to-equity ratios, especially in a down market. Set percentage caps on the stocks in your portfolio. “Bad things happen to good companies.”Joseph Hogue Guest profileBorn and raised in Iowa, Joseph Hogue graduated from Iowa State University after serving in the Marine Corps. He worked in corporate finance and real estate before starting a career in investment analysis. Joseph has appeared on Bloomberg and CNBC and led a team of equity analysts for a venture capital research firm. He holds a master’s degree in business and the Chartered Financial Analyst (CFA) designation.Joseph left the corporate world in 2014 to build his online businesses, first through creating websites and later through his YouTube channel, Let’s Talk Money. He’s since grown the community to over 500,000 and reaches more than 1.8 million people a month through his blogs, YouTube channel, and a weekly market newsletter.Subscribe to Joseph’s free weekly market newsletter to get an update on all the news, trends, and what he’s watching in the week ahead for stocks!Worst investment everIn 2014/15, high debt and low energy prices knocked the entire coal industry down. Regulators were circling, trying to limit the coal generation capacity in the United States. But still, a third of the US energy grid was generated by coal, so this was still a viable resource that people were using. The stocks in the energy industry were down by almost half.Joseph was fully aware of what was happening in the industry. He decided to do a bottom-up analysis of the stocks. He found Peabody Energy, the world’s largest private-sector coal producer at the time. The company had a solid market share and relatively good fundamentals relative to many other stocks in that sector.He started buying Peabody Energy stocks in 2015. At the time, the stock was already 50% lower from its peak just a couple of years ago. The stock kept falling, and he kept buying. Like many investors, Joseph fell into the gamblers’ trap. Eventually, he was just praying to get even.Peabody Energy ended up filing for bankruptcy in 2016, and in the process, Joseph lost about $30,000. This loss embarrassed him because he had already worked in the industry for about four years and had passed all three levels of the CFA in 2011. He was a charterholder and had worked with venture capital and private wealth management.Still, Joseph just ignored the basics of investing. He thought he had a strong investment case in that coal was still something the US would need to generate electricity. The world was not about to get rid of it overnight. A lot of these stocks seemed to be trading at a discount. Joseph picked the one stock he thought had the financial size and scope to survive, supposedly, but it didn’t survive.Lessons learnedWhen buying a specific industry is down, always consider the debt-to-equity ratios. This will help you know if the company can survive this period of market weakness.Just because you think a company or even an entire industry is indispensable doesn’t mean that that specific company can’t file for bankruptcy or that it can’t wipe out its shareholders.Don’t think any companies or investors are sacrosanct.Set percentage caps on the stocks in your portfolio.Bad things happen to good companies.Andrew’s takeawaysDebt is the number one risk that companies face.Understand how bankruptcy can affect your portfolio and what to do when a company you’ve invested in files for bankruptcy.Actionable adviceDon’t put more than 10% of your money in a single stock. Do your rebalancing on the asset level, from stocks to bonds, commodities, or other assets. Suppose you’re trading in a particular industry or even a sector doing well. In that case, you can always reallocate some of that money into the competitors doing well, so you still have that industry exposure that’s doing so well but not necessarily that one individual company.Joseph’s recommended resourcesHis Let’s Talk Money YouTube channel, where he explains investing in straightforward and easy-to-understand ways.Sectorspdr.com, where you can see how the 11 stock sectors of the economy and the S&P 500 companies have done over specific periods like one day, five days, up to five years. The analysis gives you an idea of what the market is doing in those 11 sectors. You get to know which sectors are performing well and which ones are lagging.FactSet Earnings Insight is excellent for people who want to do a deeper analysis of the companies in the S&P 500. The site provides data on their earnings and what the expectations are. The website updates its earnings insight report every Friday.No.1 goal for the next 12 monthsJoseph’s goal for the next 12 months is to start an investor community with a revenue share agreement. His investment goal is to keep pushing hard and making more money to invest. [spp-transcript] Connect with Joseph HogueLinkedInFacebookYouTubeWebsiteNewsletterAndrew’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 ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome 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: Priya Kumar is an internationally acclaimed motivational speaker, bestselling author, and now screenwriter. She has written 15 inspirational books that have won 42 international awards.STORY: Priya ignored the need to learn basic accounting and instead left her money matters in the hands of her accountant. The accountant took advantage of her ignorance and swindled all her money.LEARNING: Learn basic accounts and finance. Analyze your profit and loss statement and balance sheet every month. “Learn accounts so that you’re always aware of where your money is going.”Priya Kumar Guest profilePriya Kumar is an internationally acclaimed motivational speaker, bestselling author, and screenwriter. She has written 15 inspirational books that have won 42 international awards. She has worked with over 2000 multi-national corporates across 47 countries and has touched over 3 million people through her workshops and books.Priya has written over 700 columns for national and international publications. The media have extensively featured her work in India and abroad, and she has been invited as a celebrity guest on several business, entertainment & reality shows.Priya was awarded the Times of India, Speaking Tree, and Good Karma Award as India’s most Inspirational Author.Known as The Biography Specialist, Priya is currently penning the official biography of Mr. Pullela Gopichand, the Olympics Badminton Coach. Priya wrote the biography of Late Shri O.P. Munjal, the founder of the Hero Group, and Subhashish Chakraborty, the founder of DTDC, which made it to the most famous biography of 2015 on Amazon.Worst investment everPriya didn’t know anything about finance or accounting, so she hired an accountant to manage her money. She didn’t know that he was stealing her money through forgery and deceit to the point that Priya had no money in the bank. The theft went on for a year and a half.Circumstances aligned, and it came to Priya’s notice through her bank that she had issued some checks, which she hadn’t. She reported the whole thing to the police, and the accountant was caught. However, there was no way to bring the money back. It’s been six years, and the case is still in court. Priya is yet to get any money back.Lessons learnedWhen you delegate your accounts to somebody, put systems around it.Learn finances and accounting so that you’re always aware of where your money is going.Andrew’s takeawaysMake sure you get your profit and loss statement and your balance sheet every month.Reconcile your accounts at the end of every month.You don’t need to become a financial or accounting specialist. Just learn the basics.Actionable adviceIf you want to be wealthy and protected, invest in learning finance basics.No.1 goal for the next 12 monthsPriya’s goal for the next 12 months is to be centered and solid and do whatever it takes for her to find herself.Parting words “Be responsible. Whatever happens, it is your doing and your creation.”Priya Kumar [spp-transcript] Connect with Priya KumarLinkedInFacebookTwitterInstagramYouTubeWebsiteBooksAndrew’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 ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome 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: Mario Bekes began his career with the Department of Defence Republic of Croatia in Military Police/Security Services for seven years. In 1998 he worked for the Department of Foreign Affairs Republic of Croatia in Security Intelligence Services, secondment in Republic of Croatia Consulate General in Sydney for five years before founding Insight Intelligence in 2003.STORY: Mario allowed his ego to make him believe that he knew everything there is to know about running his business, and so he failed to invest in learning.LEARNING: Be open to continuous learning because you can never know everything. “Foundations are critical in business, but you can only establish them when you work on yourself.”Mario Bekes Guest profileMario Bekes began his career with the Department of Defence Republic of Croatia in Military Police/Security Services for seven years. In 1998 he worked for the Department of Foreign Affairs Republic of Croatia in Security Intelligence Services, secondment in Republic of Croatia Consulate General in Sydney for five years before founding Insight Intelligence in 2003.Mario is proficient in 3 languages (English, Croatian and Russian). He has published five books, including “Corporate and Workplace Investigations,” published in August 2018, and his latest best-seller on Amazon, “The Blood Soaked Soil,” published in September 2021.He is also the designer of software programs (Intelligent Risk Manager, Intelligent HR Recruiter, and Online Task Manager) and pioneering and architecting the application of psychology in the corporate environment as a tool for preventing fraud and increasing the success rate in investigations.Mario conducted numerous internal and external investigations in corporate and government sectors in Australia and overseas, particularly in human intelligence and competitive business intelligence.If you’re happy to be interviewed on his radio show “Life: The Battlefield” and share your knowledge, experience, and how to deal with obstacles in life, business contact Mario on any of the platforms shared below and quote “A. Stotz Academy.”Worst investment everMario believed that the world owed him and that nobody knew more than he did. With these beliefs, Mario saw no need to learn new things. His worst investment was not listening to the business environment and absorbing from the experts. Mario instead invested in his alter ego, which drove him into insanity.His ego made him believe that having beautiful business cards, a beautiful desk, and everything else would make him a successful businessman. So he refused to learn how to run his business. The result was two years of struggling to understand the business and losing money.Lessons learnedBe open to continuous learning because you can never know everything.Associate yourself with experts to enhance your understanding of the business environment.Andrew’s takeawaysDesign your product and service in a way that it can be scaled.Actionable adviceInvest in proper planning and proper financial structure as you build your business. Also, invest in people such as CFOs, and CEOs who can help you to run that business.No.1 goal for the next 12 monthsMario’s goal for the next 12 months is to reduce internal test fraud and criminal activity for all his clients, current and future ones.Parting words “Please listen to this podcast.”Mario Bekes [spp-transcript] Connect with Mario BekesLinkedInFacebookTwitterInstagramYouTubeWebsiteBooksPodcastAndrew’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 ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome 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 mentionedMichael Gerber (2009), The E Myth Revisited: Why Most Businesses Don’t Work and What to Do About It.

BIO: Toni McLelland MSc resides in London, England, UK, and spends time in Wales. She is a critical friend, business mentor, and founder of The Compassionate Business Model.STORY: Toni hired someone on social media she thought would help her in an area she was interested in. The individual was an influencer and not an expert in the area.LEARNING: Do your homework and due diligence. Excellent professionals should have no problem providing you with recommendations. “Watch for commitment and consistency from professional service providers.”Toni McLelland Guest profileToni McLelland MSc resides in London, England, UK, and spends time in Wales. She is a critical friend, business mentor, and founder of The Compassionate Business Model.Toni is an inspirational people leader who is passionate about navigating C Suite and board members through the world of business, crisis, and change management in her work around organizational culture.Specializing in Social Impact, Social Justice, and Social Mobility business, she works with leading established organizations and brings the learning back to start-ups serving vulnerable groups.A previous Central Government employee, she brings a wealth of experience. She is adept at contingency, regulation safeguarding, and compliance in business while showing business leaders how to be compassionate and profitable.Toni holds weekly LinkedIn live shows - Mondays at 1.30 pm BST, Audio rooms -Wednesdays at 6.30 pm BST & Fridays at 1.30 pm BST.Lastly, she sprinkles around her own much-needed #TonisFairyDust. Get her Complimentary consultation book here.Worst investment everToni was on a social media platform and had been watching this person for a very long time. They had a vast following and a lot of engagement. Toni thought that they knew what they were talking about.She needed some help in that area, so she reached out to the person and invested in her services. Toni was sure that she would get specialist help. In reality, she found herself working with an influencer who had no expertise in the industry she worked in.Lessons learnedDo your homework and due diligence.When engaging someone online for professional help, ensure that they understand what you need and not just spend their time as an influencer.Always get a recommendation and check out testimonials about the professional whose services you’re interested in hiring to confirm there are any guarantees with what they’re saying they’re capable of delivering.Andrew’s takeawaysExcellent professionals should have no problem providing you with recommendations.Actionable adviceListen to that inner voice telling you something’s not right.No.1 goal for the next 12 monthsToni’s goal for the next 12 months is to touch as many people as possible with her learning.Parting words “When you stop learning, you stop growing.”Toni McLelland [spp-transcript] Connect with Toni McLellandLinkedInFacebookTwitterYouTubeWebsiteAndrew’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 ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome 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: Michelle Hon is the author of The Chill Mom, founder, and business coach for moms at MomBoss Academy.STORY: Michelle spent half of her life savings on a soup and salad bar that she had to close down after a month due to the wrong location.LEARNING: Don’t build a business for yourself or boost your ego. Build a business because it fills a market gap. Build systems and frameworks that enable you to implement and replicate your business ideas. “Swallow that humble pie and ask for help from experts.”Michelle Hon Guest profileMichelle Hon is the author of The Chill Mom, founder, and business coach for moms at MomBoss Academy.She was named by Zine as one of the “Top 10 Mommy Influencers in the World,” and she’s been featured regularly on Channel News Asia, The Asian Entrepreneurs, Lifetime Asia, Asian Money Guide, SmartParents, and many other publications.Worst investment everIn 2010, Michelle decided to open a soup and salad bar after working in employment since age 16. She spent almost a year researching and coming up with a thick business plan. She got a space, renovated it, formulated the recipe, and was ready to open the doors.Within the first month of business, she knew the company would not work because it was in the wrong location.Lessons learnedDon’t build a business for yourself or just to boost your ego. Build a business because it fills a market gap.Get advice from someone in the same business space.Borrow from systems and frameworks that successful people or businesses are using instead of trying to build new ones.Andrew’s takeawaysBuild systems and frameworks that enable you to implement and replicate your business ideas.Don’t get so excited about your idea and forget to focus on how to implement it.Actionable adviceSlow down and find people who have done this before and ask them about their systems and the critical things that have gotten them to where they are today.No.1 goal for the next 12 monthsMichelle’s goal for the next 12 months is to take her family on holiday.Parting words “Just go for it. We have this one sweet life. Whatever you want to do, just go for it. You never know where it will take you.”Michelle Hon [spp-transcript] Connect with Michelle HonLinkedInInstagramTwitterPodcastWebsiteBookAndrew’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 ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome 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: Leonard Kim is the worst investor you will ever meet and has made countless mistakes.STORY: Leonard invested over $6,000 in penny stocks and preferred shares whose value went to less than a penny.LEARNING: Avoid stocks on the OTCBB; trade in the NASDAQ shares instead. Focus on the company’s ability to make profits instead of the stock price. “Don’t invest in stocks that are at the sub-penny level.”Leonard Kim Guest profileLeonard Kim is the worst investor you will ever meet. He’s made countless mistakes like investing in stocks on the Pink Sheets, OTC Bulletin Board (OTCBB), and companies bound for bankruptcy like MoviePass. He’s bought preferred shares from public companies that have gone bust and invested in private companies that have failed.On the contrary, he’s an extraordinary marketer who has won countless awards and been recognized as a top marketer by Forbes, Brand 24, MadCon, and more.He’s also done an internationally recognized TEDx Talk and is the author of Ditch the Act, a book on personal branding and humanizing your company with McGraw Hill business.Worst investment everLeonard put money in a penny stock that he thought had the potential to go up, and it did. It hit $7, but it quickly went down to 50 cents, so Leonard lost his money.Leonard also invested $6,000 in a company whose stock was listed in the OTCBB and sold for around 50 cents. The company sold series B preferred shares with a one-year hold where you couldn’t sell them. After a year, the stock was trading at less than a penny, and it’s still at that value to date.Lessons learnedAvoid stocks on the OTCBB; trade in the NASDAQ shares instead.Don’t invest in stocks that are at the sub-penny level.Handle your investments by yourself.Invest in stable investments like oil.Andrew’s takeawaysFocus on the company’s ability to make profits instead of the stock price.Avoid investing with friends.Actionable adviceBuild a conservative investment profile and figure out how to invest more.No.1 goal for the next 12 monthsLeonard’s goal for the next 12 months is to continue creating value through his content.Parting words “The secret to marketing yourself is to differentiate yourself.”Leonard Kim [spp-transcript] Connect with Leonard KimLinkedInInstagramTwitterPodcastBookAndrew’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 ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome 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: Vanessa Ho built a student-alumni-run angel investment network and educates students and fresh graduates on startup and private sector investments.STORY: Vanessa invested blindly in a startup she was introduced to by an angel investor. She never did any research. There was no market for the company’s product, so it never made any returns.LEARNING:  Dig deep into the business model and ensure the startup has a product that the market needs. Don’t invest in a company just because it’s popular and others do it. “Learn the fundamentals of angel investing.”Vanessa Ho Guest profileVanessa Ho built a student-alumni-run angel investment network and educates students and fresh graduates on startup and private sector investments.Formerly she was a venture capital analyst and a social media content creator and host. Currently, she is in a socialfi startup called So-Col doing business development and marketing.Worst investment everAn angel investor introduced Vanessa to a company dealing with paywalls for media outlets. The company looked good on paper, and Vanessa trusted the angel investor, so she didn’t do a lot of due diligence. She simply put money into the company blindly. She didn’t even read the investment contract.Three months later, the company hadn’t made any progress, and the owners were getting worried about sustainability. Vanessa kept checking the news, and many months later, she realized that the company wasn’t going anywhere. She decided to write it off.Lessons learnedDon’t be swayed by big founder names and glamorous titles. Dig deep into the business model and ensure the startup has a product that the market needs.Do your due diligence even if other angel investors are backing up the startup you want to invest in.Andrew’s takeawaysDon’t invest in a company just because it’s popular and others do it.Don’t invest in a startup if you don’t have enough money to risk or if you’re new to investing.Weigh your risk before you invest in a startup.Invest in 10 startups, never in just one.Actionable adviceLearn the fundamentals of angel investing before putting your money into it.No.1 goal for the next 12 monthsVanessa’s goal for the next 12 months is to build a syndicated fund to bring value to private sector investing. [spp-transcript] Connect with Vanessa HoLinkedInWebsiteAndrew’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 ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome 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: Jitender Girdhar is a best-selling author, TEDx speaker, entrepreneur, Op-Ed writer at The Times of India, mentor, and NLP professional.STORY: Jitender’s worst investment ever was not investing in growing his mind when he was younger. This saw him make poor investments.LEARNING: Your beliefs and opinions become your identity. Leave past knowledge and beliefs behind and be curious to learn new things. “The action everybody needs to take is to question their strong belief. Questioning is the beginning of intelligence.”Jitender Girdhar Guest profileJitender Girdhar is a best-selling author, TEDx speaker, entrepreneur, Op-Ed writer at The Times of India, mentor, and NLP professional.He is best known for his articles on Mind & Body, Human Behavior, and Cricket, and for his thought-provoking book Think EPIC, which became a #1 international bestseller in just a few months and got success in various countries.His contributions to multiple disciplines broadly address the narratives of human behavior.He has a great following on LinkedIn and is an ardent reader and a sports fanatic.Worst investment everJitender’s worst investment ever was not working on growing his mind after completing his education. Instead, he spent all his energies working to rise through the ranks. He ended up making wrong investments and lost money by ignoring his mind. He wishes he had spent more energy when he was younger to improve his mind.Lessons learnedStop living a mechanical life. You won’t get much out of it.To create something new and see things from a fresh perspective, you need to leave past knowledge and memory behind.Your beliefs and opinions become your identity.Andrew’s takeawaysStart safe, then start thinking freely as you grow older.Actionable adviceQuestion opinions and beliefs, and be curious.No.1 goal for the next 12 monthsJitender’s goal for the next 12 months is to keep learning and sharing.Parting words “Stay hungry for learning. Stay foolish, and when somebody says something against your opinion, you won’t get hurt.”Jitender Girdhar [spp-transcript] Connect with Jitender GirdharLinkedInTwitterFacebookInstagramWebsiteBookAndrew’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 ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome 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: Anthony Milewski is an investing veteran and Chairman of Nickel 28 – a battery metals-focused investment company focusing on metal streaming and royalty agreements.STORY: Anthony and a friend partnered to drill oil in Indonesia. They pooled $10 million and hit the ground running. After facing one disaster after another, the partners gave up on the venture, having spent all the money, and not a single well was dug.LEARNING: Understand the context of the foreign country you’re investing in—research both the expected return and expected risk. “Why are you investing? Do you need to do this? What’s the alternative?”Anthony Milewski Guest profileAnthony Milewski is an investing veteran and Chairman of Nickel 28 – a battery metals-focused investment company with a focus on metal streaming and royalty agreements. The company trades on the Toronto stock exchange.Anthony has been active in the battery metals industry, including investing in cobalt and actively trading physical cobalt. Previously, he was a member of the investment team at Pala Investments Limited, a leading venture capital firm.Worst investment everA former partner and friend in Australia shared an idea with Anthony about these oil drilling blocks coming up for auction in Indonesia. Anthony figured it was a good idea, and so the two partnered and raised roughly $10 million. They were awarded a block.The two partners thought they were to drill a couple of wells and become oilmen. It never happened.They faced one disaster after another, from corruption locally to landowners fighting them to the inability to mobilize because they were being held to ransom by locals. Ultimately, they spent all the money they had raised but never drilled a well.The partners’ undoing was their naivety to how complicated it would be to do an oil and gas deal with local landowners without a strong local partner.Lessons learnedUnderstand the context of the foreign country you’re investing in.If a return feels out of whack, even if experts are right, always make sure that you understand the risk.When you see a return that looks like an outsize return, ask why? Then identify what the why is because that is the risk.Andrew’s takeawaysSplit your research between the expected return and expected risk.Reducing risk reduces the expected return.Understand your investment environment.Actionable adviceBe thoughtful when investing in places where you don’t know anything about. Work with a management team that has an edge in that place. And if you don’t trust that investment, buy something else.No.1 goal for the next 12 monthsAnthony’s goal for the next 12 months is to do a triathlon. [spp-transcript] Connect with Anthony MilewskiLinkedInTwitterWebsiteAndrew’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 ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome 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 Spence is an author, international executive coach, professional development educator, virtual trainer, strategic planning facilitator, keynote speaker, and developer of online learning programs.STORY: When John was a young CEO of one of the Rockefeller Foundations, he invested in the trappings of a CEO, such as big houses, boats, wines, artwork, etc., all in the name of impressing people. All these things were lost in days when Hurricane Andrew hit Miami.LEARNING: Don’t let material things define you. The ultimate freedom is the freedom of mind. The accumulation of things is uncorrelated to happiness. “Be grateful for everything you have now.”John Spence Guest profileJohn Spence is an author, international executive coach, professional development educator, virtual trainer, strategic planning facilitator, keynote speaker, and developer of online learning programs.John is recognized as one of the top business thought leaders and leadership development experts in the world and was named by the American Management Association as one of America’s Top 50 Leaders to Watch, along with Sergey Brin and Larry Page of Google and Jeff Bezos of Amazon.As a consultant and coach to organizations worldwide, from startups to the Fortune 10, John is dedicated to helping people and businesses be more successful by “Making the Very Complex… Awesomely Simple.”Worst investment everJohn became the CEO of one of the Rockefeller Foundations when he was 26 years old. This saw him earn a significant salary. John decided to use his earnings to invest in houses, boats, artwork, wine collections, and everything else that were the trappings of being the CEO of a multinational company. At a young age, John thought that those were the things that would impress other people.In 1989, Hurricane Andrew hit Miami and destroyed everything John owned. In just a matter of days, all his properties and belongings were gone. John had invested so much time, energy, effort, and ego in all that stuff, and it was all taken away in one day.Lessons learnedEven when you suffer a significant loss, stay focused on your values and remember that others have been through worse.Material things are lovely, but they don’t define you.You’re stronger than you think you are.Be grateful for everything you have now.Andrew’s takeawaysThe ultimate freedom is the freedom of mind—the freedom to think and detach.The accumulation of things is uncorrelated to happiness.Actionable adviceLook at the things that are truly important and valuable in your life.No.1 goal for the next 12 monthsJohn’s goal for the next 12 months is to learn more and meet more people.Parting words “Just live by your values, treat other people with love and have fun.”John Spence [spp-transcript] Connect with John SpenceLinkedInTwitterFacebookInstagramYouTubeWebsiteBooksAndrew’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 ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast