My Worst Investment Ever Podcast

At the age of 23, Michael Brody-Waite was a full-blown drug addict. Every day he drank a fifth of vodka and a twelve-pack of beer, he smoked two packs of cigarettes and more weed than any human should, and he did whatever other drugs he could get his hands on.He had been kicked out of college, fired from his job, and evicted from his apartment. He had no money and no home. He was throwing up blood and believed he would be dead before his thirtieth birthday.Then, on September 1, 2002, after running out of options and fearing death, he checked into rehab, entered recovery, and has been transforming himself every day since.Michael’s TEDx Nashville YouTube video, Great Leaders Do What Drug Addicts Do, is the number one talk in TEDx Nashville’s history. It has been seen by 1,000,000+ people in 25+ countries and provides insight into his seventeen-year journey from addiction and near homelessness to successful entrepreneurship.This talk sparked the #MaskFreeMovement that brought awareness to Michael’s Mask-Free Program, built on three principles inspired by his recovery, showing leaders how to achieve balance, reclaim energy, and thrive in work and life.Michael is an acclaimed speaker, Inc. 500 entrepreneur, award-winning, three-time CEO, a leadership coach, and author of Great Leaders Live Like Drug Addicts: How to Lead Like Your Life Depends on It. His accomplishments include being named a Most Admired CEO, named to the Top 40 Under 40, and is recognized by the Nashville Chamber of Commerce as Healthcare Entrepreneur of the Year. “If you’re suffering right now, the worst thing about you can be the best thing about you.”Michael Brody-Waite Worst investment everMichael had always wanted to be an entrepreneur. And so, at the height of the US recession, he decided to max out his credit card, drain his 401k and blow his savings to start a company. The company Michael started was called Inquicker, a platform that lets patients schedule appointments online. At the time in the States, 99% of healthcare appointments were made over the phone.Michael started the company with his partner a year after getting married. They were bootstrapped and became quite successful and ended up being an Inc 500 company. The company grew 20,000% in six years.Hiding his weaknesses so wellAs his success grew, Michael also became quite good at hiding his most significant weaknesses. He had gotten good at telling people that he was a recovering drug addict. But when he started being recognized as a successful CEO, the temptation to hide his weaknesses grew.Michael had always told his story as the homeless drug addict who beat his addiction and becomes a huge success. However, he did not feel like the successful man the world saw him as. Michael was, in fact, struggling to be a great leader.His world starts to crumbleIn 2013 Michael got blindsided by two of his most important relationships. His business partner decided to take his equity away and tried to get him unseated as CEO of their company. At the same time, his marriage was in turmoil, and his wife wanted to file for divorce. While Michael was good at admitting that he was a drug addict, he was bad at admitting how much he was failing to navigate both of these issues.Failing as a leaderWith these two issues hanging over Michael’s head, his role as a leader suffered. Suddenly, this voracious leader who cared about his people was gone because he did not know how to face his team. Whenever he would be in business meetings, he would put this mask on, pretending that everything was okay because that is what the CEO of any 500 company does.Trying to handle his issuesMichael had suffered for too long, so he decided to find a middle ground with his wife and partner. He signed a marital dissolution agreement that he and his wife had agreed on. Michael’s wife kept trying to take a large part of his equity in the company, but he successfully convinced her to let him buy her out to keep the company’s equity.After settling things with his wife, Michael and his partner met with investment bankers to put the company up for sale. Michael asked one of the investment bankers what he thought the company was worth, and the number he got was 600%, higher than the value they had used in the marital dissolution agreement. Michael felt terrible that he had cheated his wife out of a lot of money even though he had done it unknowingly. He struggled with this, and eventually, he decided to tell her the truth, a decision that cost him a million dollars but left him at peace.Making amendsMichael also found a way to make amends with his business partner, although they never got to do business together again. But by allowing himself to surrender to the outcomes in his life, Michael was able to talk with his partner, who apologized to him and let him keep his equity.Lessons learnedPractice rigorous authenticity in your lifeOwn your life’s journey. It does not matter what you have gone through in life; as a leader, you need to stay true to who you are. This means that you have to always be authentic.Surrender to the outcomeMost leaders do not know how to surrender to outcomes because they are responsible for outcomes. Leaders are always trying to drive outcomes and waste so much energy on things that they cannot control at the expense of the things they can. You, therefore, have to learn how to surrender to outcomes.Learn how to do uncomfortable workWhen you practice authenticity and learn how to surrender to outcomes, you will do uncomfortable work. Uncomfortable work is emotional. It involves making decisions and taking actions that you would rather avoid taking because of the emotions involved.Andrew’s takeawaysAllow yourself to surrender and let go of your mistakesYour past mistakes are probably causing you a lot of pain and holding you back from experiencing life in its fullness. You need to surrender and let go; otherwise, you will continue living in pain.Do not be afraid to be authenticDo not be afraid to be your authentic self because everybody else is hiding behind a mask. When you remove your mask and live authentically, you will find freedom.Accept the painful moments in lifePain is sometimes necessary, especially if you are going to do things that are emotionally consuming. If you do not accept pain, you will never live a full life or find happiness.Actionable adviceThis is for you who has something that is hurting you badly, and the hurt is holding you back. But you cannot share what is hurting you with anyone because you think it will make you less successful.The truth is that you can get the relief of sharing your pain with the people you are scared to share it with. There’s a nine out of 10 chance that your pain will inspire the person you share it with, and they are going to feel connected to you because they see the strength that it took to share your pain. Then they are going to help you solve your problem.No. 1 goal for the next 12 monthsMichael’s number one goal for the next 12 months is to market his services. He has figured out what his product-market fit is, and all he has to do is literally go out there and say, “Hey, I think this will help you.” That’s what Michael plans to do in 2021.Parting words “If you are suffering from addiction, reach out. I would love to hear from you.”Michael Brody-Waite [spp-transcript] Connect with Michael Brody-WaiteLinkedInTwitterFacebookInstagramYouTubeWebsiteAndrew’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

Marcus Luer is Asia’s #1 Sports Marketing Entrepreneur and the Group CEO of Total Sports Asia (TSA), Asia’s global sports marketing agency, which he founded 23 years ago in Kuala Lumpur, Malaysia.Marcus is a sought-after industry expert and speaker and has been featured on CNBC, BBC News, Bloomberg Asia, regularly presents at major global sports conferences, and has contributed to many international newspapers and industry magazine articles. He recently launched his Sports Entrepreneurs Podcast series featuring top sports executives and entrepreneurs from around the world. “Pivoting is important, but I think you also got to be careful not to distract yourself too much.”Marcus Luer Worst investment everInspired by Netflix, Marcus started his own over the top platform SportsFix. SportsFix is a live sports streaming platform. He felt very confident about this platform because he knew the sports industry in and out. Given his over 20 years of experience, he knew where to buy content and what the audience was looking for.Launching the platform with confidenceMarcus put a team together, put in some of his money into the platform, and even brought external investors. He launched the platform in 2018, believing it would be a gamechanger. SpotsFix was at first available in Malaysia, and then after about eight months, it launched in Indonesia.Why this very good idea never succeededWhile SportsFix was and remains a good idea, Marcus and his team made a couple of mistakes that crippled the idea.Marcus and his team did not understand the consumption habits in Asia. He assumed the Asian market would consume online content the same way people in the West do. But there is a vast difference. People in Asia were not ready to sign up and pay for content, given that there is a lot of free content available.Another thing that Marcus overlooked was piracy. He did not realize there was a massive amount of piracy out there, which the team could not stop.Trying to pivotAfter learning that he had overlooked several vital factors, Marcus tried to change the business model. At one point, he changed the model from a subscription model to an ad-driven model. The constant pivoting saw Marcus get distracted from the original SpotFix idea.In trying to make the business idea work, Marcus ran out of money before he could get the confidence of his investors.Lessons learnedKeep your eye on the ball, and do not get distractedBuilding a business is not easy, and you may want to keep pivoting as you find your ground. However, be careful not to get distracted from your primary goal as you pivot.Find success in your local market before you go globalDo not be too aggressive in your growth strategy. Begin by winning your local market so that you have a strong foundation to expand globally. If your home market is weak and you try to go global right away, you will have a hard time cracking the global market.Andrew’s takeawaysShould you pivot or shut down your idea?As a business owner, always evaluate your business idea critically before you decide to pivot. Sometimes a business idea could be a bad idea. When an idea is bad, it does not matter how many times you pivot it; it will not work. You are better off shutting it down to avoid wasting your time and money.Allocate your business resources wiselyLimited resources are one of the biggest challenges many new entrepreneurs face. Your ultimate success or failure is dependent on how you allocate those resources. So be careful how you do it.Test your product within your local market firstTest your product with a small market, see how it feels about it, make necessary adjustments, and then scale to a bigger market.Actionable adviceDo not get so caught up emotionally in your business. You have to learn to let go, especially when you realize that it is not working anymore.No. 1 goal for the next 12 monthsMarcus’s number one goal for the next 12 months is to take his experience in sports into the world of Esports and gaming. Marcus also has a goal to find the next billion in revenue in the next 10 years.Parting words “It is always good to reflect on what happened in a different way.”Marcus Luer [spp-transcript] Connect with Marcus LuerLinkedInTwitterInstagramWebsiteBlogAndrew’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

Before becoming a marketing entrepreneur, Andrew Muller worked for Microsoft in their pay per click (PPC) division. His company (Andrew Muller Creative) now specializes in a new type of hyper-agile market testing called The Market Testing Incubator, where he’s able to test hundreds of ideas in a month (his average market test costs $2.63, which is about 50x cheaper than the industry standard) intending to lower lead costs.He helps clients who are spending thousands on media buying a month but aren’t getting the return on investment (ROI) they need. “An ounce of prevention is like a pound of cure. Test your ideas to understand what the market wants.”Andrew Muller Worst investment everAndrew was 16 years old and about to graduate high school when he decided to find work to pay his bills after graduating. However, Andrew did not want to be employed but rather preferred working for himself.Getting started with Google AdSenseAndrew discovered Google AdSense, and he immediately built a content website and filled it with content. He loved the business idea, and he believed it would be his retirement plan.Skipping the market research partAndrew did not do much research, and anytime he ran into market research that went against what he wanted to do, he would ignore it and do what he wanted to do instead. This ignorance led Andrew into choosing a niche that was difficult to make money in: music. It was very difficult to monetize his website.Doing it anywayEven though Andrew could see that his Google AdSense idea was failing, he kept at it. First, he did it for six months. He even created a course on how to use music production software. That did not work too. But Andrew kept at it until he was 23 years old.Finally putting his ego asideAndrew’s business idea was doomed from the start. He had spent almost seven years investing all his skills into this thing that never worked.Andrew could still not pay his bills from his business, and so he was on Employment Insurance. At one point, he was so broke he had nothing to eat. At this point, Andrew decided it was time to put aside his ego and accept that his idea was a big fail. So he gave up on that dream.Getting a jobAndrew found a job at an agency. Luckily, finding a job was not too hard for him because he had acquired lots of skills while running his business. Andrew had done everything in internet marketing, including email marketing, writing a 500 article website, paid ads, marketing strategy, automation, and more.Lessons learnedTake feedback, put your ego aside and pivot your businessWhen you get feedback about something that is not working, put your ego aside, and make the changes you need. This will prevent you from continuing on the path that is not working.Market research is fundamental; do not skip itMany business owners find market research very dull, and so they skip it. Then they spend a year or more running a failing, instead of spending just one day of market research that will guide them on how to pivot their businesses.Marketing and sales are two completely different business functionsMarketing is not sales, and neither is sales marketing. Marketing is bringing someone to the door, and the salesperson takes them across the finish line. Not understanding the difference between the two critical functions can lead to tension between marketing people and salespeople. Such tension reduces the quality of your leads, which ultimately affects your bottom line.Andrew’s takeawaysSave your time and money by testing your ideas firstTest your ideas so that you do not waste your time pursuing unprofitable ideas. If you test your ideas and realize that they will not work, do not hesitate to change them.Put people’s advice into considerationNot all advice will be good for you, but it pays to listen to people whose opinion you can trust. In doing so, you might just save yourself from getting boxed into a corner.Revenue is proof of concept, while profit is proof of competenceRevenue is indeed proof of concept. You can come up with an idea, test it, and all that. But if you cannot get somebody to pay for it, then the concept just does not work. You also need to understand that revenue is just the beginning when you are running a business.Other things, such as marketing, human resources, managing the people involved, accounting, etc., need to come together to make a business last. This leads to making profits and, therefore, if your concept is bringing you profits, you can consider yourself competent.Actionable adviceShift your mindset so that you can trust other people. Some people are worth trusting. First, believe in that, and then find that person that you can trust.No. 1 goal for the next 12 monthsAndrew’s number one goal for the next 12 months is to double revenue without losing his sanity and continue being happy to be alive.Parting words “Get testing.”Andrew Muller [spp-transcript] Connect with Andrew MullerLinkedInFacebookYouTubeWebsiteAndrew’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

Shan Saeed is Chief Economist at Juwai IQI, a leading property, technology, and investment company operating and advising clients in Kuala Lumpur, Singapore, Hong Kong, London, Melbourne, Makati, Toronto, and Dubai.He has 20 years of financial market experience in private banking, risk and compliance management, commodity investments, global economy, and brand and business strategy.Based in Kuala Lumpur, he is a financial market commentator cited in various news outlets around the world.Shan graduated from the Booth School of Business at the University of Chicago and got his first MBA from IBA Pakistan in collaboration with the Wharton School, University of Pennsylvania. He is also trained in Alternative Banking/Strategies from Harvard Business School. “In order to be successful in your life, you need to work hard, have an abiding faith in Almighty God, and lastly, which I strongly believe in, your mother’s blessing.”Shan Saeed Worst investment everShan was always impressed by his mom’s investing acumen. She had started investing in gold from the time when Shan was a kid. When Shan finished his first MBA in 1999, his mom encouraged him to read about gold and oil. However, Shan was not interested.At the time, Shan was focusing on his career and getting his second MBA. So he was saving money for that.Finally getting round to investingThe price of gold had been going up steadily since 1971. In 1971 gold prices were trading at $35 per troy ounce, and in 1980 it was $850. The price went down in 2001 to $257 per ounce. But in 2011, the price hit $1,923.Even though Shan had been keeping an eye on gold and knew how lucrative it was, he did not start investing until 2007. That was pretty late, and he was indeed behind the curve. Shan’s worst investment was the ignorance that saw him miss out on some good returns from gold for at least six to seven years.Lessons learnedSave to investAs soon as you start working, you should allocate 10 to 20% of your saving to investing. Cut down your expenses and save that money.Understand the market before you start investingBefore you start investing, you must first understand the market. So do your homework and get your market intelligence report. When you get to know the market well, you will be able to choose your investments wisely.Understand your risk profile and have an exit strategyUnderstand your risk profile and your risk-reward ratio. And most importantly, you need to have an exit strategy.Andrew’s takeawaysPut aside a specific amount of money for investingYou have to be very intentional with your investment plan. Make it a habit to save by putting aside a certain amount. Do not use it for anything else other than investing. Whether it is 5% or 10%, or 20% of your salary, allocate it to investing in stocks, gold, property, or bonds. Then manage your portfolio slowly and steadily over time.Actionable adviceBe aggressive, gather as much information about the financial market as you can. Listen to people’s advice about investing, but make your own decision.No. 1 goal for the next 12 monthsShan’s number one goal for the next 12 months is to take a long position in gold and silver, be very aggressive in the market, and keep himself up to date. [spp-transcript] Connect with Shan SaeedLinkedInTwitterWebsiteAndrew’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

Jonathan Palmar makes videos. “People will always disappoint you because your expectations will never match what they provide you with.”Jonathan Palmar Worst investment everEver seeking approvalLike most people, Jonathan grew up believing that he needed to trust in the constant search for other people’s approval. As is human nature, Jonathan wanted to fit into the pack. He found himself often wanting people to give him the validation that he was going on the right path.The nagging need to be validatedJonathan’s need for approval sometimes got pretty dramatic. He would often put himself in gravely uncomfortable situations.There was this one time that Jonathan wanted to complete this project so badly. He put his heart and soul into this project because he wanted his boss to be happy. When he finally went to present it, his boss responded nonchalantly and tossed it to the side.Getting to his breaking pointJonathan was devastated by the reaction he received from his boss so much that it threw him to his breaking point. He realized that he had put all this time into the project, and he ought to be proud of himself. Jonathan also admitted that he would always get disappointed if he kept trying to get people to validate him.Adjusting his expectations of othersAfter this incident, Jonathan learned that he had wasted so much money and time searching for validation from people. Now he has stepped out of this kind of thinking. He lives his life without seeking approval from anyone, including his friends, family, coworkers, and audience.Lessons learnedOutward approval brings you zero rewardThere is no reward in searching for approval or doing things to get acceptance from other people. Stop seeking validation from others and be your number one cheerleader.You need to invest more in yourself and not other peopleWe need to focus more on building ourselves up and investing in ourselves instead of on building others.Partner with someone who gives as much as they takeFind somebody you can work with within a balanced partnership in which the give and take are equal. If you find yourself in a situation where the amount of effort that you are putting to get validation is not equal to the outcome that your partner provides you with, then you need to leave.Andrew’s takeawaysWhat other people think of you is none of your businessBe comfortable with the fact that this is your life, your decision, and your thinking. Some people are going to like it, and some won’t. But that is their problem. So have the courage to live your life, and do your things without getting concerned with what people think about you.Actionable adviceYou have to polish your diamond. Nurture yourself as an investment. Take the time to look introspectively and figure out what is important to you, and then have the courage to act on it. You cannot start to love and care for people until you begin to love and care for yourself.No. 1 goal for the next 12 monthsJonathan’s number one goal for the next 12 months is to live a day at a time and not plan a single moment.Parting words “This wasn’t the worst podcast I’ve ever been on. So I consider this a success story.”Jonathan Palmar [spp-transcript] Connect with Jonathan PalmarLinkedInAndrew’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

Dale Dupree is leading a sales rebellion against the mediocre ways of the status quo in order to put people over products, community over commissions, experiences over performing a pitch, and fellowship over negotiations. “If you miss it at 30, and you don’t find it until 60, it’s okay. Being patient with your outcomes is what’s most important instead of trying to force them.”Dale Dupree Worst investment everWhen Dale was 23 years old, he had ambitions to become a rockstar. He rubbed elbows with big names in the industry, such as Lou Pearlman, a well-known record producer.Meet the who is who in the music industryOne day, Dale got invited to Pearlman’s mansion for a hangout with the who is who in the industry. He was elated to receive the invite because this was his chance to network with the music industry big wigs.The enticing investment opportunityWhile at the mansion, Pearlman and other big wigs from Warner Brothers, Sony, and Universal Records did a video presentation of a product similar to Spotify where a user could access any album they wanted at a subsidized rate. Now in 2007, this was huge.The big wigs invited those in attendance to invest in the product. One could choose to invest $50,000, $20,000 or $10,000. Dale liked the idea.Here comes the pyramid schemeAfter signing up for the investment, Dale got informed that he had to get 10 of his friends to sign up underneath him, and all their sales would level him up.Then came the wait for returns. A year later, Dale had made nothing. Two years later, he still had not seen any return on his investment. Eventually, in 2012 the scheme was shut down by the government. Dale never made anything from this investment.Lessons learnedJust because someone has a big name does not mean that they are credibleBe careful when investing in something just because someone famous has endorsed it. Just because a big wig has put their name on something does not give it credibility. Just because a celebrity says you should do something does not mean that you should. Always do your due diligence.We control our outcomes much better than other people canNever believe in a scheme that tells you to sit back, relax, and have other people make you money. If you want to be rich, you have to work hard. Do not depend on luck. Making smart, intentional decisions and being very aware of what you are doing will create the wealth you desire, not joining pyramid schemes.Andrew’s takeawaysKnow the difference between multi-level marketing and Ponzi schemesThere is a fine line between multi-level marketing and pyramid/Ponzi schemes. A Ponzi scheme involves getting paid out from what other people are paying, while multi-level marketing involves real products and services. There are legitimate multi-level marketing methods of distributing products. However, a pyramid scheme is illegal. It is, therefore, vital that you know the difference between the two. You do not want to find yourself on the wrong side of the law.There is no legal fast way of making moneyIt takes time to make money. You have to invest it and let it grow slowly and compound. Do not go looking for shortcuts.Question the motivation behind every opportunity offered to youEverybody who is approaching you with an opportunity is doing so from a financial incentive perspective. Nothing wrong with that as it is just business. Whether they are a salesperson, or an entrepreneur selling a dream, they will be motivated by some financial incentive. Understand that incentive so that you can make a better decision. If those incentives are not stated clearly or are hard to figure out, or someone denies that they have some financial incentive, then take that as a warning sign.Actionable adviceThere is so much fakeness out there, be very careful about what you perceive to be real. If you cannot touch it, feel it, see it, or believe it, it is not real. Make the right decisions around your wealth, your family, your community, and your legacy.No. 1 goal for the next 12 monthsDale has developed an app for rebels that do not have 1,000s and 1,000s of dollars to spend on sales training because it is expensive. The app is part of his company’s ministry as a sales organization to help small businesses wanting personal development and growth. Dale’s number one goal for the next 12 months is to launch the first, second, and third iteration of the app. [spp-transcript] Connect with Dale DupreeLinkedInTwitterFacebookYouTubeWebsiteBlogAndrew’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

Chris Tate is one of the first people to ever release a share trading book in Australia. He is the best-selling author of The Art of Trading and The Art of Options Trading in Australia. He’s been running the 6-month repeat-for-free Mentor Program since the year 2000, and he’s also the founder of the Talking Trading podcast, a free weekly trading podcast.With a background as an immunologist and his previous work as a bouncer, Chris’s life experiences will amaze you. When he’s not hanging out with his traders, he can be seen lifting weights at the gym, enjoying yoga, and trying to get a personal best time on his rowing machine in his garage. “Time is more important than money because money can be replaced; time cannot.”Chris Tate Worst investment everChris began his career as an immunologist and had a profession in academia mapped out for himself. However, he started to trade in the 80s bull market in Australia.Chris made the mistake of thinking that because everything he bought succeeded, he was somewhat a genius. When his luck stopped, Chris thought he should learn about trading. He figured stockbrokers know best about stocks.Joining a broking firmChris conned his way into a broking firm based on the fact that his background is reasonably quantitative. Derivatives were beginning to take off in Australia, and he seemed to have an affinity for understanding them.Stockbrokers know squat about tradingAs soon as Chris joined the broking firm, he learned that stockbrokers knew nothing about trading. He found out the person sitting opposite him had been selling shoes two weeks beforehand, and the person sitting next to him had been selling carpets.Chris quickly learned that broking was a sales profession and not of analysis and execution.Making the best of what he had learnedNow that Chris had realized that brokers would never teach him how to trade, he had to make the most of his situation. He was still working for a brokerage anyway.Chris noted that being in a dealing room gave him access to information he did not have before. It also gave him access to a trading floor that helped him understand ebbs and flows very quickly. Chris also got to understand the cyclical nature of emotion that drives price. And so he thought he could marry his access to information and the trading floor together. Chris spent many years as a broker taking the opportunities presented to him to hone his skills.There was an easy and quick way to learn about tradingIn hindsight, working in the brokerage for so long was his worst investment ever because he just burned time, not knowing that time is precious. He now realizes that he did not think through the problem well.Chris’s problem was his desire to learn how to trade, and instead of going back to school and take a degree in Finance, he went to work for a brokerage. A Master’s degree would have taken him between 18 months and two years, and it would have given him different connections within the industry.Lessons learnedTime is precious invest it wiselyTime, unlike money, cannot be replaced. Therefore invest your time wisely. You can make more money should you lose it, but once your time is gone, that is it. There are many opportunities to make money. But no option or scheme grants you time.Take risks when you are youngIt is best to take risks and make mistakes when you are young because you still have time to recover and learn from your mistakes.Andrew’s takeawaysIf you want to learn about trading, go to a trader, not a brokerBrokers are simply salespeople who package ideas for clients in a way they think they would like them. If you want to learn about trading, go to a trader. If you desire to learn sales in the financial world, go to a broker.Money is not hard to access. What you need is a solid ideaMoney may be hard to make, but nowadays, if you have a good idea and are good at convincing people, you can make money if you execute your plan well.Actionable adviceDon’t be impulsive when making decisions. Instead, take time to sit and think about your problem instead of just rushing to a solution.No. 1 goal for the next 12 monthsChris’s number one goal for the next 12 months is to get on an airplane and go somewhere.Parting words “Pack your ego.”Chris Tate [spp-transcript] Connect with Chris TateLinkedInTwitterFacebookWebsiteAndrew’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

Benjamin Quinlan is the CEO and Managing Partner of Quinlan & Associates. He is also the Chairman of the FinTech Association of Hong Kong, an Adjunct Professor at the AIT School of Management, a Mentor for PingAn’s Cloud Accelerator, a Guest Contributor for eFinancialCareers and Regulation Asia, and a Senior Advisor to many leading startups in the region.He was previously the Head of Strategy for Deutsche Bank’s equities business in the Asia Pacific and its Investment Bank in Greater China. He has also worked at UBS, Oliver Wyman, and PwC. “You’ve got to be in the game and not on the sidelines; otherwise, you are never going to get involved to the degree you need to make things work for you.”Benjamin Quinlan Worst investment everInvesting in cryptocurrency with all the hypeIn 2017, there was all this hype going on around cryptocurrencies. Bitcoin was literally on the financial news headlines every day. As a strategic consultant, Benjamin likes to put a lot of data and thought behind how he looks at new opportunities and new developments, particularly in the financial services industry.So Benjamin deployed his team and tasked them with cracking this new cryptocurrency. His focus was on learning what this ecosystem was all about and the real value of this very elusive Bitcoin that everyone kept referring to.Finding a way to value BitcoinAs Benjamin and his team tried to crack Bitcoin, they realized that nobody knew its worth. Analysts in the market said it was worth zero, while the people rushing to invest in Bitcoin were saying it was worth a million. But they were all in agreement about one thing; there were zero methodologies and approaches to valuing Bitcoin.The team sat down and worked out how to value this new currency. The team came up with four different methodologies. Every single method pointed to the fact that this was a massive speculative bubble.Sharing his report with the marketBenjamin and his team concluded that Bitcoin was just a speculative investment that would plummet in no time. At the time of Benjamin’s research, the price of Bitcoin was around $20,000.In Benjamin’s report, he predicted that the price of Bitcoin at the end of 2018 would be $1,800. By the end of the year, it hit $3,100.Claim to fameBloomberg cited Benjamin’s report as the most accurate crypto forecaster in the world. The report got so much coverage around the world and even made it into Quora and Reddit.The advice he had but never tookOne day, Benjamin was on international TV, CNBC, and the anchor asked him, “So Benjamin, given all of your research and analysis and thought process, are you shorting Bitcoin?” He said, “No, we do not. Because as an independent consulting firm, we do not get involved in the investment side.”Benjamin watched as Bitcoin continued to plummet throughout the year and could not help but think about the amount of money he could have made from backing the advice he and his team were so confident of. But alas, he did not do it. It would have been great to put his money where his mouth is.Lessons learnedThe success of any investment lies in thorough researchWhen considering an investment, including cryptocurrencies such as Bitcoin, do thorough research first. Do not just look at technicals and theories. You need to look at what is going on in the broader market too.Back your thought process with convictionYou will not always get everything you do right but no matter what happens, always back up your decisions with conviction. If you strongly believe that your decision is right, then stick by it.Andrew’s takeawaysTake a small position and grow it over timeJust because your gut tells you to do something does not mean you have to go all in. Invest just a little bit into your investment of interest so that you are at least taking action. Start slowly and continue to build your portfolio.Actionable adviceIf your gut is fundamentally pushing you in a direction to make a decision, take a position. Whatever that position might be, follow your instinct, and follow your gut. Only over time can you work out if you got it right or wrong and, that is part of investing.No. 1 goal for the next 12 monthsBenjamin’s number one goal for the next 12 months is to continue to build and scale his business. Beyond that, he wants to get back on stage and do some more touring for comedy. He also wants to finish the book he’s been working on.Parting words “I wish everyone a very fruitful 2021.”Benjamin Quinlan [spp-transcript] Connect with Benjamin QuinlanLinkedInTwitterFacebookInstagramWebsiteBlogAndrew’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

Born and bred in a small coal mining and steel mill town in Western Pennsylvania, Ric Franzi moved to California after graduating with a B.A. in Communications from the University of Pittsburgh. While in Southern California, he continued his education by attaining his MBA from Pepperdine University.Ric is the host of the Critical Mass Radio Show & Podcast and an author of three books and frequently speaks to CEOs and business owners. He has been featured on Forbes, INC, CNBC, and many others. “When you emotionally want something, it is amazing how you can mentally rationalize that it makes sense.”Ric Franzi Worst investment everRic and his wife had family friends whom they had known for a very long time. The friends had a son, Henry, who was one of two co-founders of the company Broadcom. The company is a very well recognized chip manufacturer. The couple has known Henry forever, and they trusted him. Henry had started other successful businesses, and so they knew him to be a successful entrepreneur.Getting the first chance to invest in their friend’s startup companyRic and his wife got a chance to buy shares into Broadcom at a family and friends rate.Being the cautious investor he is, Ric called his broker and talked to him about the idea of investing in Broadcom.The broker told him that he did not have to but that the shares were three times higher than the price he could buy them. With that advice, he made up his mind to purchase the shares.Selling their shares to build a poolBroadcom was doing well, and so Ric was quite delighted with the decision they had made. After a while, the couple decided to build a pool and do some modernization to their house.Since the couple had made enough money on the Broadcom stock, they decided to sell it and use that money to finance the project rather than getting a second mortgage. So they took the gains off the table and spent it on something that they wanted.The couple spent tons of time in that pool with their growing children and made lots of family memories.Leaving money on the tableWhile building a pool and improving their house was a fantastic personal decision, selling their stock too early saw the couple lose a lot of money. The Broadcom shares continued to appreciate.Ric was pained to realize that they had made a very foolish financial decision by selling an appreciating asset to get a depreciating one.Lessons learnedDo not sell an appreciating asset to buy a depreciating oneDo not buy depreciating assets, especially if you have to sell an appreciating asset. It never works out well. Also, do not overbuy depreciating assets.Seek the assistance of a financial advisor whenever you need to sell your investmentsIf you have an urgent need for cash and the only way to raise it is to sell your investments, then consult a financial advisor and figure out how to minimize the drain on your finances. Do not let emotions take control of your decisions.Have someone who can offer you uncompromised adviceHave someone trusted who will advise and reason with you without any emotions involved whenever you want to make financial and investment decisions.Andrew’s takeawaysPeople miss opportunities every day. So do not beat yourself upIt is painful to look back at the opportunities that we miss. The best way to deal with the emotion of that is to remember that everyone has missed many other opportunities.Test things out with a small positionWhen you encounter a stock whose price goes up or down, take a small amount of that stock and sell it or buy it depending on the price’s direction.Actionable adviceSolicit outside advice from people who have no vested interest in the decision you are going to make. Then take seriously the recommendation that you get. Remember to submerge your ego and your emotion and realize these people have your best interests at heart. They may be smarter than you, so follow that advice as much as you may not want to hear it.No. 1 goal for the next 12 monthsRic’s number one goal for the next 12 months is to leverage digital-first strategies to drive his top of the funnel activities and grow his community.Parting words “Stay healthy.”Ric Franzi [spp-transcript] Connect with Ric FranziLinkedInTwitterFacebookWebsiteAndrew’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

Mighty Pete Lonton from the Fire In The Belly show is an author, soon to be TEDx speaker (Jan 2021), podcast host, mentor, entrepreneur, property investor, husband, and father of three beautiful girls.Pete’s background is in project management and property, but his true passion is the ‘Fire In The Belly’ show and project. His mission is to help others find their potential and become the mightiest version of themselves.Pete openly talks about losing both of his parents, suffering periods of depression, business downturn, burn-out, and ultimately his years spent not stoking ‘Fire In The Belly.’ In 2017, at 37.5 years of age, that changed, and he is now on a journey of learning, growing, accepting, and inspiring others. “Not everything that shimmers is gold. Just because it looks good and it smells good doesn’t mean it is good.”Pete Lonton Worst investment everPete started investing in property 20 years ago in his early 20s. It has always been something that has worked for him in the background. Pete, over time, came up with a very successful property investment model that was super simple. The model looked for a 10% growth yield that brought a return on investment in three years. Pete retained the asset but would add value to it or buy an undervalued property and get it back up to value.Exploring new opportunitiesPete had the opportunity to meet somebody who was a much bigger investor than him. The man was heading towards retirement, and his portfolio was about ten times the size of Pete’s portfolio. The man wanted to offload his portfolio, and Pete saw an opportunity to grow his portfolio. The two gentlemen quickly grew on each other and had a good rapport.Sizing up the opportunityPete got invited to go and take a look at the properties with a view of potentially doing a deal. One particular property stood out as a good investment opportunity. The Gulf Open was coming to a location in Northern Ireland, and as a result, accommodation was under severe demand. The property could be developed into a guest house, or it could be knocked down and built into ten apartments. The property, therefore, had both short term and long term potential.The universe bending to make this happenThe deal was a five-year lease, with an agreement to buy. So that gave Pete five years of a head start on the lease agreement. The sale price to be paid in five years was pre-agreed on the commitment to sell and for Pete to buy. With this kind of arrangement, financing the deal would not be a problem for Pete. Contracts were drawn in just a matter of days, and everything seemed to be moving along pretty fast. The pressure to close the deal was on.One little issueEverything seemed to be right with this deal except one thing—it went against his property investment model. Pete started feeling off about the whole deal, and he decided to run it through someone else who would look at it with fresh eyes.Pete assembled his family, friends, and colleagues, took them to the property, and asked them for their feedback. They were all against the deal. Their reaction came as a huge shocker for Pete but was also a big wake up call.Backing out of an agreementFortunately, Pete had not signed the deal yet though they had had a gentleman’s handshake. Pete felt guilty about having to back out of the deal, but he had to protect himself from making his worst investment ever.Lessons learnedStick to your investment modelDo not let anyone rush you into a deal, especially if it goes against your investment model.Take time to make significant decisionsBefore you make a major decision, sleep on it, and give it some more thought. You never have to make a decision right away.Not everything that shimmers is goldJust because it looks good and it smells good does not mean it is good. Do not let the excitement of something new cloud your judgment.Andrew’s takeawaysUrgency is just a sales tool. Take your time before investing in propertyWhenever you are purchasing property, remember that urgency is just a sales tool. Occasionally, urgency is real, such as when a property is to be foreclosed on, and the owner wants to get out of it right away because the bank has given a deadline. But in normal circumstances, be sure to take your time before investing in property.If you have a system that works, don’t break itIf you have a system that works well for you, do not break it. Always stick with your system.Protect your interests even if it means reneging on a contractYou have a right to protect your interests, even if it means backing out of a contract. Do not accept to get caught up in contracts because sometimes the pain of what comes out of a contract is not worth it.Actionable adviceKnow what you are good at and do it repeatedly.No. 1 goal for the next 12 monthsPete’s number one goal for the next 12 months is to build passive assets that will be working for him while he sleeps. These include books, podcasts, property, and intellectual property.Parting words “Be the best version of yourself. Find and live by the fire in your belly.”Pete Lonton [spp-transcript] Connect with Pete LontonLinkedInTwitterFacebookInstagramYouTubeWebsiteAndrew’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