My Worst Investment Ever Podcast

Financial expert Larry Swedroe discusses market efficiency and the case of Pete Rose in investing. He emphasizes not trying to time the market or pick stocks as retail investors often underperform. The podcast explores challenges in generating alpha, the fine line between legal and regulatory boundaries in sports betting, market bubbles, and collective wisdom.

Guest Larry Swedroe talks about why investing in great companies doesn't guarantee high returns. He discusses the concept of risk-adjusted returns, market efficiency, and the importance of understanding valuation. Larry emphasizes the significance of developing a financial plan based on expected returns from stocks and bonds, rather than trying to time the market.

Larry Swedroe, author of 'Enrich Your Future: The Keys to Successful Investing,' discusses why persistent outperformance in investing is challenging. He emphasizes the importance of building a robust asset allocation plan, regularly rebalancing, and sticking with it. Larry shares insights on market bubbles, timing investment decisions, and the complexities of achieving consistent success in investing.

Author Larry Swedroe discusses the challenges faced by active investment managers in outperforming the market due to costs. He draws parallels between athlete performance and investment management, highlighting the difficulties of achieving consistent success in both fields. The episode delves into the concept of persistence in investment performance and the impact of scaling and market competition on managers' ability to generate long-term returns.

Financial author and speaker Larry Swedroe discusses market pricing strategies and the importance of investing in passively managed funds. He emphasizes letting the markets work for investors and highlights the challenges of beating an efficient market. The conversation explores the concept of market efficiency in sports betting and stock trading, overconfidence among individual investors, and the impact of Fama and French's research on active fund managers.

Rizwan Memon, founder of Riz International, shares his $160,000 loss from shorting GameStop due to Elon Musk's tweet. Lessons learned: always have enough liquidity when shorting, control money bets, avoid emotional trading. Emphasizes transparency in trading practices and the importance of due diligence for safer investments.

Larry Swedroe, author of 'Enrich Your Future: The Keys to Successful Investing', discusses key metrics for stock market success. They delve into research revolutionizing investing strategies, including factors like market beta, value companies, smaller companies, and momentum. The conversation highlights the importance of analyzing small companies based on profitability and investor behavior's impact on returns.

BIO: Mark Kohler, M.PR.A., C.P.A., J.D., is a highly respected Founding and Senior Partner at KKOS Lawyers, specializing in tax, legal, wealth, estate, and asset protection planning.STORY: Mark and his partner bought two properties to put up on Airbnb. The first property needed just a bit of modification, but the second one required far more. It took them more time and money than expected to get it ready for renting.LEARNING: Take ownership of your mistakes. If a problem occurs, admit it, step up, and try to solve it—don’t run away or stick your head in the sand. The majority of trouble we face in our lives will be caused by ourselves. “When you’re pivoting in the face of a disaster or a bad investment, the first thing to do is give yourself some grace.”Mark Kohler Guest profileMark Kohler, M.PR.A., C.P.A., J.D., is a highly respected Founding and Senior Partner at KKOS Lawyers, specializing in tax, legal, wealth, estate, and asset protection planning.With a reputation as a YouTube personality, best-selling author, and national speaker, Mark is dedicated to guiding clients through complex legal and financial landscapes to achieve their American Dream.He also serves as the co-founder and Board Member of the Directed IRA Trust Company and has launched the Main Street Certified Tax Advisor Program to train CPAs and Enrolled Agents nationwide.As the co-host of The Main Street Business Podcast and The Directed IRA Podcast, he simplifies intricate topics like legal and tax strategy, asset protection, retirement, investing, and wealth growth.Mark Kohler’s commitment to helping entrepreneurs and small business owners attain success and financial security has made him a trusted expert in the field. He has helped countless individuals and businesses navigate the financial and business world with confidence.Worst investment everMark and his partner bought two properties in Arizona to turn into Airbnbs. They aimed to modify them over two to three months and set them up on the Airbnb platform. They hoped to start renting them out during the winter, which is a great Airbnb season. The first property was beautiful and simply needed yard furnishings.At the same time, 10 blocks away was the other property, which they thought would need some minor work, just like the first property. A few weeks later, they realized the property would take a ton of work, but the train had left the station, and there was no turning back. And so the damage began. The two partners added a lot of value to this property, but it was far more than they wanted to bite off and chew. Modifying the property took more time and money than expected.Lessons learnedYou can make a good investment, and something outside your control happens.Take ownership of what you’re doing wrong.If a problem occurs, admit it, step up, and try to solve it—don’t run away or stick your head in the sand.Andrew’s takeawaysThe majority of trouble we face in our lives will be caused by ourselves.When you do something wrong, admit it to yourself as a first step.If you cause damage to another person, you must amend and resolve it.You can’t get help on something if you haven’t admitted it.If your process is good and you keep improving, you progress.Actionable adviceWhen you are pivoting in the face of a disaster or a bad investment, recognize that it’s not the end of the world, give yourself some grace, look for the silver lining, and get to work.Mark’s recommendationsIf you’re in the Airbnb market, Mark recommends reading Daniel Rusteen’s books. He also recommends his podcast, The Main Street Business Podcast, which has some great interviews about Main Street business and investing strategies.No.1 goal for the next 12 monthsMark’s number one goal for the next 12 months is to dial in the Main Street business tax pro certification. He wants to have 1,000 members by the end of the year. These are 1,000 business owners, tax professionals, and legal and financial professionals looking for a group of like-minded individuals and tribes.Parting words “Don’t give up no matter what.”Mark Kohler [spp-transcript] Connect with Mark KohlerLinkedInTwitterFacebookInstagramPodcastYouTube WebsiteBooksAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassThe Become a Better Investor CommunityHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleFVMR Investing: Quantamental Investing Across the WorldBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsAchieve Your GoalsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramThreadsTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Jusper Machogu is a farmer in rural Kenya, an agricultural engineer by profession, and an advocate for Fossil Fuels for Africa.STORY: In this episode of My Wost Podcast Ever, Andrew and Jusper discuss the potential of fossil fuels to drive economic growth and development in Africa.LEARNING: Africa needs more fossil fuels not aid. “60-70% of our population depends on agriculture for livelihood. So one of the easiest ways to improve livelihoods is to improve agriculture by having abundant, reliable energy rates.”Jusper Machogu Guest profileJusper Machogu is a farmer in rural Kenya, an agricultural engineer by profession, and an advocate for Fossil Fuels for Africa.Why Africa needs fossil fuelsIn this episode of My Wost Podcast Ever, Andrew and Jusper discuss the potential of fossil fuels to drive economic growth and development in Africa. Jusper argued that reliable and affordable energy is crucial for progress. Jusper is all about economic development in Africa and wants Africans to have what the rest of the world has. He wants Africa to be able to feed itself, to have access to reliable, abundant energy, lots of food, and economic development.Jusper says that Africa needs lots of fossil fuels to achieve this, and Africans have plenty of them, so they don’t need much aid. What they need is investors in Africa. For instance, Africans can use fossil fuels to power their industries, such as manufacturing and agriculture, leading to job creation and economic growth. Africans can also use fossil fuels to generate electricity, which will improve access to energy and enhance productivity. These are just a few examples of how fossil fuels can be harnessed for African self-sufficiency and empowerment.Jusper emphasizes that once Africa utilizes nitrogenous fertilizer, it will not only produce more food but also significantly improve livelihoods and economic development. He points out that Africa has ample fossil fuels to produce the fertilizer it needs, underlining the importance of African self-sufficiency in this crucial development aspect.According to Jusper, another way Africa can attain economic development is by adding value to the food it produces and employing its people.Jusper sheds light on the detrimental influence of international organizations like the IMF and World Bank in African countries. He argues that their policies, instead of fostering development, have led to increased hunger and economic hardship. This stark reality underscores the urgent need for change and a shift in focus towards empowering Africans to drive their own development.Parting words “We don’t need a lot of aid. What we need is investors in Africa. Let’s drill our oil, tap into our natural gas, and mine our coal. Let’s use that to develop ourselves. So that’s what I’m saying: fossil fuels for Africa.”Jusper Machogu [spp-transcript] Connect with Jusper MachoguTwitterSubstackAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassThe Become a Better Investor CommunityHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleFVMR Investing: Quantamental Investing Across the WorldBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsAchieve Your GoalsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramThreadsTwitterYouTubeMy Worst Investment Ever Podcast

BIO: August Biniaz is the Co-founder and Chief Investment Officer of CPI Capital. CPI Capital is a real estate private equity firm with the mandate to acquire multifamily assets while partnering with passive investors as limited partners.STORY: Upon looking back and reflecting on the worst investment decision August has ever made, he says it’s his time, shiny object syndrome, getting excited about new investment ideas, and then putting a lot of time into learning about those ideas and losing that time.LEARNING: Don’t be a jack of all trades and a master of none. Focus on your primary business. Stay in your lane. “Being focused is probably the greatest asset anyone could have when it comes to success in business or otherwise.”August Biniaz Guest profileAugust Biniaz is the Co-founder and Chief Investment Officer of CPI Capital. CPI Capital is a real estate private equity firm with the mandate to acquire multifamily assets while partnering with passive investors as limited partners. August was instrumental in the closing of over $208 million of multifamily assets since inception.August educates real estate investors through webinars, YouTube shows, weekly newsletters, and one-on-one coaching. He is the host of Real Estate Investing Demystified PodCast.Worst investment everUpon looking back and reflecting on the worst investment decision August has ever made, he says it’s his time, shiny object syndrome, getting excited about new investment ideas, and then putting a lot of time into learning about those ideas and losing that time.In one incident, when crypto came around, August got involved in the crypto world, trying to connect with investors, creating businesses within the crypto world, and putting his brainpower and time into learning about this new asset class. However, August went down a rabbit hole that took him away from his main focus.In another incident, an asset class came across his desk. This was the build-to-rent single-family rentals or BTRSFR. After the great financial crisis in 2008, single-family homes in the US were selling for pennies on the dollar. Wall Street got involved, knowing that the market would eventually turn around, and started buying portfolios of single-family homes. However, as they managed these properties, they realized they were handled similarly to multifamily ones. So, they created this new asset class: build to rent single-family rentals.August brought this idea to investors in his database and invested in a development project. It was a former purchase contract in which August partnered with a developer. This deal created some difficulties for his investors, partners, and himself. He never closed on that deal. This deal diverted August’s focus from his main business, and he lost opportunities there.Lessons learnedBeing a specialist is very important if you’re dealing with investors and have partners. Don’t be a jack of all trades and a master of none.Focus on your primary business.Stay in your lane.Have tunnel vision in the business that you’re part ofUnderstand what’s happening in macro, economic, and political situations.Andrew’s takeawaysWhen things aren’t working well, it’s apparent that you may need to find something else or double down on your efforts to fix them.Actionable adviceIf you’re in the process of building a business or you already own a great business, don’t put your attention and focus into something that’s totally outside of your sandbox. Instead, try to focus on that business you’re already building.August’s recommendationsAugust recommends listening to the My Worst Investment Podcast, learning how entrepreneurship, startups, investing, and other asset classes work, watching YouTube shows, and reading books. He is happy to provide 30 minutes of his time if you quote the My Worst Investment Podcast.No.1 goal for the next 12 monthsAugust’s number one goal for the next 12 months is to hit his target of two deals in 2024. On the personal side, he’s moving to the US and setting up a base in Florida.Parting words “If you’re looking for risk-averse advice, talk to your parents. They’re always risk averse. And anytime you’re looking for risky advice, talk to your drunk friend.”August Biniaz [spp-transcript] Connect with August BiniazLinkedInFacebookTwitterInstagramPodcastYouTubeWebsiteAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassThe Become a Better Investor CommunityHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleFVMR Investing: Quantamental Investing Across the WorldBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsAchieve Your GoalsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramThreadsTwitterYouTubeMy Worst Investment Ever Podcast