My Worst Investment Ever Podcast

BIO: Lark Davis is the Founder of the weekly crypto newsletter Wealth Mastery, which combines insider insights and in-depth market analysis to offer cryptocurrency investors the best opportunities to grow their wealth, stay ahead of the curve, and avoid costly mistakes.STORY: Lark invested in the Terra Luna cryptocurrency, which had a famous implosion. The volatility of the crypto market saw him lose all his profits and part of his capital.LEARNING: Never put your profits into something that could go down. Fully understand all aspects of risk exposure. “The learning curve is massive in crypto, and even after years in the industry, I still get surprised by how I can get screwed.”Lark Davis Guest profileLark Davis is the Founder of the weekly crypto newsletter Wealth Mastery, which combines insider insights and in-depth market analysis to offer cryptocurrency investors the best opportunities to grow their wealth, stay ahead of the curve, and avoid costly mistakes.The newsletter has 100K+ subscribers and covers DeFi, NFTs, Altcoins, Technical Analysis, and more. Lark has been a crypto investor for more than seven years and has made millions of dollars—while also suffering significant losses—in the markets.He has been featured in leading digital currencies media platforms, including Coinpedia and CoinDesk, providing insights that help audiences consistently make money from cryptocurrency investments.You can find him on Twitter and YouTube.Worst investment everLark invested in the Terra Luna cryptocurrency, which had a famous implosion. The currency went up, and the investment was worth hundreds of thousands of dollars. The company also had a stable coin worth $1 linked to the Luna cryptocurrency. The more stablecoins were minted, the more the Luna token was taken off, and the market price increased. The reverse eventually, of course, applied as well. But this was the big hype coin everybody was talking about. Big venture capital firms were in it, and the Founder was the poster child on social media.It all came tumbling down eventually. Interestingly, shortly before Lark invested, his research assistant, who does the deep dives for the Wealth Mastery reports, did a report on the Luna crypto and concluded that it smelled fishy and didn’t like the idea of investing in it. Lark, however, went ahead and invested.By the time the coin started going on a downward spiral, Lark’s Luna position was around $100,000. That went to zero in about three days. Luckily, he didn’t ride them to zero. He sold them for around $6, but his profit fell to zero. He also had about $700,000 of stablecoins, in which he took a 20% loss.Lessons learnedNever put your profits into something that could go down.Take your profits, put it in your bank, and run away.Fully understand all aspects of risk exposure.Crypto’s learning curve is massive.Andrew’s takeawaysSeparate your wealth or profit from speculation money and put it in a safe place that won’t go down.When it comes to human behavior, always expect a herd mentality.Actionable adviceGo slow on-chain and test the waters first before you put 100% of your money into it. You’re not missing out on anything; there’s always going to be something new happening tomorrow.Lark’s recommendationsLark recommends reading his newsletter, Wealth Mastery, for updates on the latest market trends. He also recommends checking out various local exchanges to learn how trading indicators and coin mechanics work and all sorts of things regarding cryptocurrencies.No.1 goal for the next 12 monthsLark’s number one goal for the next 12 months is to 10x his crypto portfolio in this bull market.Parting words “With crypto, remember to take your profits, or the market will take them for you.”Lark Davis [spp-transcript] Connect with Lark DavisLinkedInTwitterYouTubeWebsiteAndrew’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: Sam founded FasterFreedom to teach people like him to quit their jobs, become successful real estate investors, and achieve that same freedom and financial independence.STORY: Sam and his partner invested in a self-storage. They fixed the property a bit and built a couple more facilities. They didn’t know this space, and the investment has cost them about $500,000 of potential loss and probably more than they could have gained in revenue.LEARNING: Be intentional about what you invest in. Stick to what you know. Think through every expansion. “Be intentional about what you invest in. You can’t be good at everything.”Sam Primm Guest profileSam Primm was born and raised in St. Louis, MO., to a father who was an engineer and a mom who was a teacher. He followed the path you’re told to do and ended up working a corporate job in the area and making a decent enough living. But there were a couple of problems.Sam was working a stressful 50-hour-a-week job for someone he didn’t like, and most of all, Sam wished he had more time and freedom for himself and his family. They deserved better. His wife deserved him to be around more, and he wanted more time to be around his daughters as they grew up.Eventually, Sam got into Real Estate, and after trying and failing—several times—he got some wins and started to learn what worked with consistency. This led him to own $45 million in assets, have 150+ single-family rentals, flip over 1,000 properties, and run his own property management company. Sam did it all in under nine years without using his money. But the best part is that it’s given Sam the time and freedom he has always wanted for himself and his family.Sam founded FasterFreedom to teach people like him to quit their jobs, become successful real estate investors, and achieve that same freedom and financial independence. Sam prides himself in practicing what he preaches, meaning all his lessons and tips are constantly updated and based on the real investing he’s doing right now- so you only learn what works and not through theory or outdated practices!Worst investment everWhen the idea to add a self-storage facility to their assets was first brought to them, Sam and his partner said no. Then COVID hit, and they said yes. They didn’t know much about storage facilities, but the numbers looked ok, so they took it. They fixed the property and built more facilities because they had open land.They didn’t know this space, so they didn’t raise enough funds or manage properly because their mind was focused elsewhere. The property is now not generating income nor growing in value like it should. This investment has cost the partners about $500,000 of potential loss and even more in missed revenue.Lessons learnedBe intentional about what you invest in.Don’t try to be good at everything; you can’t.Stick to what you know.Have proof of concept in what you want to invest in.Andrew’s takeawaysTake good care of your cash flow.Focus on minimal investment and maximum cash flow.Think through every expansion.Don’t think your evidence of the existing success relates to your new idea, even if it seems like it’s the same thing. That’s not proof.Actionable adviceDon’t just buy something because it’s cheap. Focus on what you’re good at and what’s proven.Sam’s recommendationsSam recommends taking advantage of the many available resources, such as his podcast, Professor Freedom. These resources will give you base-level knowledge to create a base-level confidence that allows you to take action.No.1 goal for the next 12 monthsSam’s number one goal for the next 12 months is to scale his education business to its greatest potential.Parting words “You’re not going to be successful without failing. Failure is literally a stepping stone on the path to success. So, figure out how to fail. Just don’t make the same mistake again. Learn from it. So if you avoid failure, you avoid success.”Sam Primm [spp-transcript] Connect with Sam PrimmLinkedInTwitterFacebookInstagramYouTubeWebsitePodcastBookAndrew’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: Dr. Marc Faber, renowned for his unconventional expertise in investment strategies, is a fund manager and author. He serves as the editor of the “Gloom Boom & Doom Report” and the “Monthly Market Commentary,” earning international recognition as the pessimistic stock market expert “Dr. Doom.”STORY: Marc recounts getting caught on the wrong side of the late-1990s dotcom bubble. He had been convinced that the tech crash was imminent and had taken heavy short positions, but at the turn of the millennium, the Fed injected massive liquidity. This unexpected rally sent the NASDAQ soaring another 30% into March 2000. Because one surviving company (Amazon) went up 100× while most others crashed, his timing error turned into a dramatic bubble loss.LEARNING: True diversification saves the day. Spreading money across stocks, bonds, cash, precious metals, and real estate can protect you when markets surprise. “When you lend money to friends, you risk losing everything…you lose your money and you lose the friend.”Marc Faber Guest profileDr. Marc Faber, renowned for his unconventional expertise in investment strategies, is a fund manager and author. He serves as the editor of the “Gloom Boom & Doom Report” and the “Monthly Market Commentary,” earning international recognition as the pessimistic stock market expert “Dr. Doom.”Born in Switzerland in 1946, Faber pursued economics at the University of Zurich and achieved a magna cum laude doctorate in economics at just 24 years old.His career took him to White Weld & Company Limited in New York, Zurich, and Hong Kong between 1970 and 1978. From 1978 to 1990, Faber was instrumental in establishing the Asia business for Drexel Burnham Lambert (HK) Ltd.In 1990, he ventured into his own business. Faber’s monthly publications offer investors insights into potential market trends. While he maintains an office in Hong Kong, he has lived in Chiang Mai, Thailand, since 2001.Worst investment everMarc cites two “worst” investments. The first was personal: lending money to friends. In his words, “to lend money to friends…is the worst investment you can make,” since those who are in trouble will pay back the banks first and will default on friends. He now refuses loans outright and will give small amounts as a gift if he wants to help.Going overly bearish in the dotcom bustMarc’s huge market failure was due to the dotcom bust. In 1999, he believed that most tech stocks would die in the dotcom crash. He shorted the NASDAQ heavily, expecting ten dead companies for every single survivor.But the markets had other plans. A liquidity injection by the Fed in late 1999 (amidst Y2K fears) sent the NASDAQ soaring 30% by March 2000. Ironically, nine out of ten technology short bets he made did go bust 100%, but one – Amazon – rose roughly 100 times.This one survivor erased his profit, turning his timing call into a massive dotcom bubble loss. As Marc admits, overbetting on a crash came at a cost: “being on the short side made it difficult to make money.”Lessons LearnedDiversification is key. Don’t put all your eggs in one market or asset class. Diversify investments across stocks, bonds, cash, real estate, precious metals, and other assets, as well as globally (US, Europe, Asia, and Emerging Markets). That way, it’s unlikely everything falls at the same time.Avoid being too bearish. Markets can defy even the smartest predictions. One unexpected rally or winner can ruin a bear. Even if fundamentals look grim, stay flexible.Respect risk management. Managing risk is often about preserving capital. Sit on the sidelines or cash if unsure, rather than chasing hyperbolic gains.Personal finance is part of investing. He learned the hard way that lending money to friends is a risky proposition. It’s better to provide help as a gift instead of lending, because friends will default on you the moment pressure sets in. This underscores that investment risk management also includes everyday money decisions.Inflation matters. Understand inflation’s nature. It can shift across sectors over time (e.g., from goods to services). Rising consumer prices tend to precede rising interest rates, which can put pressure on assets. In short, understand what inflation is and be prepared for its evolving impact.Andrew’s TakeawaysEven professionals get humbled. No one has a crystal ball. Be humble and understand that it is extremely difficult to time a market collapse.Diversification is the answer. Global diversification is the hallmark of prudent risk management. By placing assets in instruments denominated in different countries and currencies, you reduce the exposure to any single bubble or crisis. This can include stocks, bonds, real estate, and bank accounts, diversified across the world, not all under the umbrella of a single economy.Balance caution with conviction. Investment risk management means giving yourself some “wiggle room.” Don’t go 100% short or 100% long on a single theme. Tactically changing your strategy will save you from further losses.Learn from history. Economies and markets run in cycles. Being inquisitive and learning (via books and past cycles) is an investor’s edge.Actionable AdviceDiversify globally and across asset classes. Hold equities, bonds, cash, property, metals, etc., in different regions. For example, own some US and European stocks, as well as funds in Asia, Latin America, or emerging markets. Keep bank accounts or bonds in multiple currencies (e.g., Swiss, US). True diversification means that one country’s policies or an asset bubble won’t wipe out your entire portfolio.Don’t chase bubbles or panic. Resist the urge to make huge bets on hype (or despairing sell-offs). If your analysis says “sell everything,” at least sell in increments or hedge, because markets can still rally unexpectedly.Focus on capital preservation. In uncertain markets, consider locking in gains or moving money to safer assets. In times like these, preserve your capital rather than aim at making a lot of money. In practice, that might mean having more cash or short-term bonds on hand.Plan for inflation shifts. Keep some assets that can hedge inflation (e.g., real assets, inflation-protected bonds). Track which sectors are heating up. Marc notes that inflation is sneaky and can shift between goods, services, and assets, so a mix of investments (including real estate or commodities) can offer protection.Avoid risky personal lending. If a friend asks to borrow, consider giving a small gift instead. Personal loans in tough times can become a “losing your money and your friend” situation. Treat such “investments” as non-recoverable.Educate yourself continuously. Read and learn not only market trends but also the broader context of economics, politics, and even history. A well-rounded view helps spot risks early.Marc’s recommendationsMarc recommends reading “The Economics of Inflation,” a deep dive into money printing and price cycles, and “Capitalism and Freedom,” a classic that explains how economic liberty underpins prosperity.No.1 goal for the next 12 monthsMarc’s goal for the next 12 months is to study the decline of the Roman Empire. He’s fascinated by how a powerful empire fell, noting it ultimately “ran out of money”. By delving into that history, Marc hopes to draw lessons about fiscal prudence and economic limits that can be applied to today’s world.Parting words “Understand what inflation is and that it can shift from one sector to another sector.”Marc Faber [spp-transcript] Connect with Marc FaberLinkedInTwitterWebsiteBookAndrew’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: Coach JV believes that what you believe in your heart and what you think in your mind will eventually become your words and reality.STORY: Coach JV was introduced to cryptocurrency and decided to invest without an exit plan. In just a year, his investment had fallen by 85%.LEARNING: Diversify inside and outside the asset class. Pull out your money and play on the house money. When you make massive gains, take some profit. “Always take 24 hours to make a decision. When somebody comes to you very excited about something, stop for a moment, listen, use discernment, and also seek wise counsel.”Coach JV Guest profileWhat you believe in your heart and what you think in your mind will eventually become your words and your reality. If you can see it in your mind, eventually you can hold it right here in your hand; what you repeatedly do gets ingrained in your subconscious mind, and what gets ingrained in your subconscious mind becomes your unconscious activity.Worst investment everCoach JV left corporate America super excited about entrepreneurship. However, he didn’t understand the ins and outs of entrepreneurship and scaling. So, at the very beginning, Coach JV lost all his money.Then, this great promise of cryptocurrency came into Coach JV’s life. But he had this deep-rooted indoctrination around those types of things. Nonetheless, when Coach JV was introduced to a coin called XRP, he got curious and started researching it. He saw the excitement of all the money being made in cryptocurrency. He also decided to invest heavily.Coach JV made a lot of money from his investment and couldn’t even keep up with all the different coins being pumped at him. Coach JV even became influential in the space.Unfortunately, he got into this speculative asset with no game plan. Then, suddenly, and it seemed like overnight, he woke up and was down 85%. Coach JV went from a millionaire to a thousandaire between 2021 and 2022.Lessons learnedDiversify inside and outside the asset class.Pull out your money and play on the house money.Andrew’s takeawaysWhen you make massive gains, take some profit.Actionable adviceAlways take 24 hours to make a decision. When somebody comes to you very excited about something, stop for a moment, listen, use discernment, and also seek wise counsel.No.1 goal for the next 12 monthsCoach JV’s number one goal for the next 12 months is to stay non-emotional about what’s happening in America, remain focused on his fundamentals, and be as keen as possible not to get caught up in the greed gene.Parting words “Remember what you believe in your heart and think in your mind will eventually become your words and your reality. If you can see it in your mind, eventually, you can hold it in your hands. What you repeatedly do gets ingrained in your subconscious mind. What gets ingrained in your subconscious mind becomes your unconscious activities.”Coach JV [spp-transcript] Connect with Coach JVTwitterFacebookInstagramYouTubeWebsiteAndrew’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

In this episode of Investment Strategy Made Simple (ISMS), Andrew gets into part two of his discussion with Larry Swedroe: Ignorance is Bliss. Today, they discuss Larry’s recent piece, The Self-healing Mechanism of Risk Assets.LEARNING: Don’t engage in resulting because there will be periods when an investment will underperform and others when it outperforms. Resist recency bias. Avoid performance chasing. “You don’t want to engage in resulting because there will be periods when an investment will underperform and others when it outperforms.”Larry Swedroe In this episode of Investment Strategy Made Simple (ISMS), Andrew gets into part two of his discussion with Larry Swedroe: Ignorance is Bliss. Larry is the head of financial and economic research at Buckingham Wealth Partners. You can learn more about Larry’s Worst Investment Ever story on Ep645: Beware of Idiosyncratic Risks.Larry deeply understands the world of academic research and investing, especially risk. Today, Andrew and Larry discuss two chapters of Larry’s book Investment Mistakes Even Smart Investors Make and How to Avoid Them. Today, they discuss Larry’s recent piece, The Self-healing Mechanism of Risk Assets.Did you miss out on previous mistakes? Check them out:ISMS 8: Larry Swedroe – Are You Overconfident in Your Skills?ISMS 17: Larry Swedroe – Do You Project Recent Trends Indefinitely Into the Future?ISMS 20: Larry Swedroe – Do You Extrapolate From Small Samples and Trust Your Intuition?ISMS 23: Larry Swedroe – Do You Allow Yourself to Be Influenced by Your Ego and Herd Mentality?ISMS 24: Larry Swedroe – Confusing Skill and Luck Can Stop You From Investing WiselyISMS 25: Larry Swedroe – Admit Your Mistakes and Don’t Listen to Fake ExpertsISMS 26: Larry Swedroe – Are You Subject to the Endowment Effect or the Hot Streak Fallacy?ISMS 27: Larry Swedroe – Familiar Doesn’t Make It Safe and You’re Not Playing With the House’s MoneyISMS 29: Larry Swedroe – The Shiny Apple is Poisonous and Information is Not KnowledgeISMS 30: Larry Swedroe – Do You Believe Your Fortune Is in the Stars or Rely on Misleading Information?ISMS 34: Larry Swedroe – Consider All Hidden Costs Before You InvestISMS 35: Larry Swedroe – Great Companies Are Not Always High-Return InvestmentsISMS 36: Larry Swedroe – Two Heads Are Not Better Than One When InvestingISMS 37: Larry Swedroe – Pay Attention to a Fund’s Proper Benchmarks and TaxesCommon biases in investingOne of the biggest problems Larry has found working with advisors and investors is certain biases that lead to mistakes. One is recency bias, which is the tendency to extrapolate the recent performance of assets into the future as if it’s inevitable.Resisting recency bias is critical to earning the premiums available from all risk assets, including reinsurance. Wise investing, as Warren Buffett noted, is simple but not easy. That’s because investors must overcome all the behavioral biases, with recency among the most powerful. It’s tempting to sell out of an investment that has suffered losses because it’s easy to think losses will keep happening.Another bias is performance chasing. This is buying after periods of strong performance when valuations are higher and expected returns are lower and selling after periods of poor performance when valuations are lower and expected returns are higher. What disciplined investors do is the opposite—rebalance to maintain their well-thought-out allocation to risky assetsLarry identifies engaging in resulting as another big issue. This is making the mistake of judging the quality of a decision by the outcome—which is unknown—versus judging it by the quality of the decision-making process.The self-healing mechanism of risk assetsProblems usually arise when stocks or any asset class perform very poorly, and investors flee the costs of these mistakes that they make. However, Larry points out that they fail to understand that a self-healing mechanism is generally in place.An excellent example of the self-healing mechanism at work is that value stocks underperformed by wide margins during the late 1990s technology/dot-com boom. For example, from 1995 to 1999, the S&P 500 Growth Index returned 33.6% per annum, outperforming the Russell 2000 Value Index by 20.5 percentage points per annum. That outperformance led to valuation spreads widening to historic levels. Over the following eight-year period, 2000-07, the Russell 2000 Value Index returned 12.6% per annum, outperforming the S&P 500 Growth Index’s return of -1.7% by 14.3 percentage points per annum. Over the full period, the Russell 2000 Value Index outperformed the S&P 500 Growth Index by 2.2% percentage points per annum (12.8% versus 10.6%).The self-healing mechanism works not only with stocks and value versus growth but also with bonds, credit, insurance, and virtually any risk asset. Thanks to the self-healing mechanism, Larry cautions investors against engaging in resulting because there will be periods when an investment will underperform and others when it outperforms. Instead, he advises that they understand why certain investment vehicles are in their portfolios in the first place.About Larry SwedroeLarry Swedroe is head of financial and economic research at Buckingham Wealth Partners. Since joining the firm in 1996, Larry has spent his time, talent, and energy educating investors on the benefits of evidence-based investing with an enthusiasm few can match.Larry was among the first authors to publish a book that explained the science of investing in layman’s terms, “The Only Guide to a Winning Investment Strategy You’ll Ever Need.” He has authored or co-authored 18 books.Larry’s dedication to helping others has made him a sought-after national speaker. He has made appearances on national television on various outlets.Larry is a prolific writer, regularly contributing to multiple outlets, including AlphaArchitect, Advisor Perspectives, and Wealth Management. [spp-transcript] Connect with Larry SwedroeLinkedInTwitterWebsiteBooksAndrew’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.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever PodcastFurther reading mentionedLarry Swedroe and RC Balaban, Investment Mistakes Even Smart Investors Make and How to Avoid ThemPhilip E. Tetlock, Expert Political Judgment: How Good Is It? How Can We Know?Gary Belsky and Thomas Gilovich, Why Smart People Make Big Money Mistakes and How to Correct Them: Lessons from the Life-Changing Science of Behavioral EconomicsLarry Swedroe, Think, Act, and Invest Like Warren Buffett: The Winning Strategy to Help You Achieve Your Financial and Life GoalsAndrew L Berkin, Your Complete Guide to Factor-Based Investing: The Way Smart Money Invests TodayLarry Swedroe and Kevin Grogan, Reducing the Risk of Black Swans: Using the Science of Investing to Capture Returns with Less Volatility

BIO: Solomon Thimothy is an entrepreneur with over 17 years of experience in marketing and sales. As the co-founder and CEO of OneIMS, a leading inbound marketing and sales agency, and Clickx, he has helped businesses double their revenue using the 10X Framework.STORY: When Solomon started his service business, he built software unique to his business. The problem was it cost thousands of dollars, and he was a broke out-of-collage kid. His model was terrible; nobody would invest in his business.LEARNING: Every entrepreneur fails, so give yourself permission to fail. “Make sure that whatever you invest in is what you want to spend your next decade trying to figure out.”Solomon Thimothy Guest profileSolomon Thimothy is a highly accomplished entrepreneur with over 17 years of experience in marketing and sales. As the co-founder and CEO of OneIMS, a leading inbound marketing and sales agency, and Clickx, he has helped businesses double their revenue using the 10X Framework. Solomon is also an expert in lead generation and customer acquisition, and a USA Today and Wall Street Journal best-selling author.In addition to his work, Solomon is also an angel investor and startup advisor. He has helped numerous startups grow and scale, leveraging his marketing, sales, and business strategy expertise.Worst investment everSolomon started a service company building websites right off college. He hired other college kids with zero experience, and the process was terrible. Due to their inexperience, Solomon and his staff spent much more time on the work, which led to less money at the end of the day. Solomon decided to create some systems to try and reduce this time wastage.Being a techie, he thought of building software to help onboard customers and enable them to see their reports from the lead gen ads. The software would allow Solomon to automate the process.This meant Solomon would build his own software. All this cost tens of millions of dollars, and he was just a kid out of college with barely enough money to pay the bills and now had to hire developers and pay thousands of dollars—money he didn’t have. On paper, this model was terrible; nobody would invest in his business.Lessons learnedEvery entrepreneur fails, so permit yourself to fail.Andrew’s takeawaysNever develop your own app or software; use what already exists and has been tried and tested.Actionable adviceMake sure that whatever you invest in is what you want to spend your next decade trying to figure out.Solomon’s recommendationsSolomon recommends reading 10x Is Easier than 2x: How World-Class Entrepreneurs Achieve More by Doing Less to understand and apply the 10x framework.No.1 goal for the next 12 monthsSolomon’s number one goal for the next 12 months is to impact the business and income of 10,000 entrepreneurs.Parting words “Keep taking risks. I know you want to reduce them, but there are those that will win big.”Solomon Thimothy [spp-transcript] Connect with Solomon ThimothyLinkedinTwitterFacebookInstagramYouTubeWebsitePodcastAndrew’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: Tony began a career in equity sales in varying capacities, including running sales and trading at Bank Hapoalim for three years and a team of sales traders at Dahlman Rose for five years. In November 2016, Tony launched the Morning Navigator, a macro trading newsletter distributed to over 800 professionals worldwide.STORY: Tony invested six figures into a small ophthalmic company his friend told him about. He didn’t know much about the company besides what his friend told him. He lost investment when the share price collapsed.LEARNING: Understand the nuts and bolts of the business you want to invest in. Be patient and willing to get rich slowly. The stock markets are for growing wealth, not creating it. Time is the only surefire thing on your side. “Live to trade another day.”Anthony Greer Guest profileAfter graduating from Cornell University in 1990, Anthony Greer began his trading career in the foreign exchange market for Sumitomo Bank and Union Bank of Switzerland, where he began running large bank books. He joined the J. Aron division of Goldman Sachs in 1994, where he learned the rigor of risk management in trading gold and the Goldman Sachs Commodities Index. Tony left the commodity desk at Goldman Sachs to launch his equity trading operation in 2000, surfing the dot.com crash for two years. Tony began a career in equity sales in varying capacities, including running sales and trading at Bank Hapoalim for three years and a team of sales traders at Dahlman Rose for five years. In November 2016, Tony launched the Morning Navigator, a macro trading newsletter currently distributed to over 800 professionals worldwide.Worst investment everWhen Tony was at Goldman Sachs in the ’90s, he managed to get into the Dotcom bubble. His love for music led him to discover Amazon. Tony would order records he was dying to have on Amazon, which would be delivered to his door in a few days. This business model fascinated Tony so much that he invested in tech stocks.During that period, Tony decided to expand his portfolio. A friend of his put a name in front of him. The friend insisted that he knew a lot about the company and that it would be a nationwide chain where everybody went to check their eyes and buy glasses. He said that PE funds were investing in it. Tony amassed a massive position in this company, whose shares sold at 20 cents a share. Tony had six figures worth of this little ophthalmic company that he didn’t know much about. Suddenly, the bottom dropped out, and the PE companies sold their shares, causing the share price to collapse even further.Lessons learnedAlways consider the total dollar value of money invested, no matter what percentage of your portfolio it is.First, understand the nuts and bolts of the business you want to invest in.Starting early is very valuable. Be patient and willing to get rich slowly.Andrew’s takeawaysPosition sizing matters most, no matter how much you want to make your investment a big bet.The stock markets are for growing wealth, not creating it.Time is the only surefire thing on your side.Actionable adviceLive to trade another day by trading carefully without greed.Tony’s recommendationsTony recommends subscribing to his Morning Navigator newsletter and reading No Worries: How to live a stress-free financial life. The book is about getting the three big ones right, i.e., education, home, and car. You’ll learn how to live a life without worrying about your finances.No.1 goal for the next 12 monthsTony’s number one goal for the next 12 months is to immerse himself in his business.Parting words “If you’re interested in getting some help looking for trades and taking risks, contact me; that’s what I do.”Anthony Greer [spp-transcript] Connect with Anthony GreerLinkedinTwitterWebsitePodcastAndrew’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: Kevin Sutantyo is the Partner for South East Asia investments for Sovereign’s Capital, a venture capital fund focused on early-stage, tech-driven, scalable companies.STORY: Kevin invested in a company, thinking that he had more influence over the outcome of the company than he actually did. So, he directed the company owners on what to do, making them over-dependent on Kevin’s opinion. As an investor, he wasn’t always in the office, so sometimes he wouldn’t be reachable. The company would get stuck without Kevin’s decision.LEARNING: You have to back the right founders. As investors, you’re here to guide companies, not to be prescriptive. The founders ultimately have to make final decisions because it’s still their company. “As investors we’re here to guide companies, but not be prescriptive. We need to help them when they ask for our help.”Kevin Sutantiyo Guest profileKevin Sutantyo is the Partner for South East Asia investments for Sovereign’s Capital, a venture capital fund focused on early-stage, tech-driven, scalable companies.Kevin was an active Angel investor in both the US and SEA prior to his work at Sovereign’s Capital.He was an operator/investor for four years at an environmental biotechnology company focused on waste management.Kevin also has experience with the Indonesian public markets as a Commissioner at a local Indonesian securities brokerage, maintaining a fit and proper standing with the Indonesian regulator (Otoritas Jasa Keuangan).Worst investment everKevin’s worst mistake was investing in a company and thinking he had more influence over the company’s outcome than he actually did. For some reason, Kevin thought he was more experienced and knew better, so he directed the company owners on what to do. This made them over-dependent on Kevin’s opinion. As an investor, he wasn’t always in the office, so sometimes he wouldn’t be reachable. The company would get stuck without Kevin’s decision.Lessons learnedYou have to back the right founders.As investors, you’re here to guide companies, not to be prescriptive. Help them only when they ask.The founders ultimately have to make final decisions because it’s still their company.Realize that your influence may have some limitations.Trust the founder.Endeavor to be in a helpful position instead of a combative one, even when you and the founder have a difference of opinion.Andrew’s takeawaysAs an angel investor, your responsibility is to provide ideas and outside views.Actionable adviceDon’t be a burden to the company. Take the approach that you’re investing in someone’s hopes, dreams, and mission and are here to support it. If you don’t believe in those hopes, dreams, and missions, don’t invest. Wait until you find another company that will align with precisely what you are looking for.No.1 goal for the next 12 monthsKevin’s number one goal for the next 12 months is to continue with the fundraising trail. At the same time, he’ll continue looking for new, high-growth, and potential startups in Southeast Asia.Parting words “Be excited about the investment space and innovation. Get in there, and keep building. Our region is exciting, and I do see a bright future ahead.”Kevin Sutantiyo [spp-transcript] Connect with Kevin SutantiyoLinkedinWebsiteAndrew’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: Dan McClure is an innovation choreographer. That’s someone whose job is to run into burning buildings, looking for opportunities to reinvent how the world works.STORY: Dan took up a senior management job because his friends and family insisted he should have a ‘real’ job. However, Dan hated the job and was terrible at it.LEARNING: Understand who you are and what you’re about. Be committed to following your passion and talents. Otherwise, you’ll be dragged into things that make you miserable. “Have the courage to say; I’m not good at that, and therefore, I’m not going to build my life around it. Instead, I’m going to embrace these other things that I am good at.”Dan McClure Guest profileDan McClure is an innovation choreographer. That’s someone whose job is to run into burning buildings, looking for opportunities to reinvent the way the world works. He’s a thought leader in the emerging practice of ecosystem innovation and the co-author of the Fast Company Press book “Do Bigger Things – A Practical Guide to Powerful Innovation in a Changing World.” Across his 40-year career, he’s worked with firms facing the threat of obsolescence, helped business pioneers thrive in fast-changing markets, and supported activists tackling tough challenges like climate change. He’s a passionate optimist who’s excited about the future.Worst investment everWhen Dan was in college, he was looking for something to do. He was thinking of the Peace Corps. Dan applied and was three weeks away from traveling. While doing the medical exam, the doctor told him he had an umbilical hernia, and they didn’t let any hernias into the Peace Corps. And with that, Dan was out of the Peace Corps.Dan found a job at a local utility company as an engineer. It was a good job, but he wasn’t very good at it. Dan was chugging along. Then he realized if he wrote a computer program, it could do his job, and Dan wouldn’t have to do everything he was doing. So Dan started writing the computer program. Then, the federal government deregulated the entire energy industry and threw everything into turmoil. Luckily, Dan had a computer program that could save the day. He got an innovation team and started fixing and changing things.Everybody around Dan kept telling him to get a real job. His innovation stuff wasn’t so cool back then. After about six or seven years, things began to calm down. There was a senior manager position in the newly created marketing department in Dan’s company. He decided to take the job. Finally, he had a real job and could settle down. With that job, Dan could move up in the company and be an executive-level person. This was a great opportunity, but Dan hated the job. And even worse than that, he was terrible at it. Dan had invested his future in this success that he had earned, and it was what everybody else said he should want and do, but it was a catastrophe.Lessons learnedUnderstand who you are and what you’re about.Be committed to following your passion and talents. Otherwise, you’ll be dragged into things that make you miserable.Andrew’s takeawaysFind your place in the world.Actionable adviceInvest time and effort in figuring out what you really are and are not.Dan’s recommendationsDan recommends reading Do Bigger Things. It’s fun to read and has a lot of stories that illustrate complex concepts.No.1 goal for the next 12 monthsDan’s number one goal for the next 12 months is to create a tribe of choreographers.Parting words “Go do bigger things, muck around in the world, and change stuff. It’s a lot of fun.”Dan McClure [spp-transcript] Connect with Dan McClureLinkedinTwitterWebsiteBookAndrew’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: Bryan Kramer is a renowned business strategist, global keynote speaker, executive trainer and coach, investor, two-time bestselling author, and Forbes contributor.STORY: Bryan decided to expand his business, but the growth snowballed out of control to the point where he traveled 200 days a year and missed out on family time. Being on the road too much also saw him develop type two diabetes. Only after his 11-year-old son pointed out the horrible life he was living did Bryan decide to quit it all.LEARNING: Relationships carry us through the highs, the mid-levels, and the lows. First, look at what you need today and then how you can serve others. “Relationships, I believe, is the thing that carries us through the highs, the mid-levels, and lows. I will never stop being a fight for relationships and being human, especially right now.”Bryan Kramer Guest profileBryan Kramer is a renowned business strategist, global keynote speaker, executive trainer and coach, investor, two-time bestselling author, and Forbes contributor.As President and co-owner of PureMatter, a Silicon Valley global marketing agency since 2001, and CEO of H2H Companies, he sparked the Human-to-Human “H2H” global movement that sets out to humanize business through simpler communication, empathy, and celebrating our imperfections.His TED Talk featured a TED “first” – allowing mobile devices during the event to illustrate his belief that even a small inspirational share holds the power to change the world for the better.Bryan has spoken all over the world, over 200 times at global companies including Mastercard, L‘oreal Paris, NASA, GoDaddy, Harvard University, Charles Schwab, SXSW, International Culinary Institute, Verizon, Dell, NFL, and Hawaii Lodging & Tourism, to name a few.Worst investment everBryan decided to expand his business to more than 10 people and then expanded into a 6,000-square-foot space and later to a 10,000-square-foot space. He continued to increase his employees and hired around the United States. Bryan was looking at fame and power from speaking, keynoting, creating a bigger business, more money, and more clients. It was just a never-ending process, and it got to the point where Bryan was speaking on the road. He’d written two best-selling books, given a TED talk, and was speaking on the road. Bryan was traveling for 200 days a year, eating food around the world because it was so good. But he blew up and became morbidly obese. All of a sudden, he got type two diabetes. His business growth had snowballed into something I had no control over anymore.The worst part was missing out on family time. Bryan had two young kids at the time. One day, he went home, and his 11-year-old son complained about not seeing him anymore, complained about his drinking, and called him fat. This hit Bryan right in the heart. A week later, when he returned from another trip, he told his wife he wanted to reverse everything. So, he walked out of the business and consolidated everything between them over the next six months.Lessons learnedRelationships carry us through the highs, the mid-levels, and the lows.Look around for people you can be in a relationship with that will help you create more of what you need right now.We have to take care of ourselves first and then care for everyone else.First, consider what you need today, then how you can serve others.Andrew’s takeawaysFigure out what you need to fix and how to start fixing it today.Actionable adviceAsk yourself what will this make possible when things don’t work out or when things do work out. Be okay and be present with what you have. Look at the next challenge as an opportunity.Bryan’s recommendationsBryan recommends subscribing to his newsletter. He writes a letter every two weeks discussing leadership, self-development, and growth. Bryan also recommends reading The Untethered Soul: The Journey Beyond Yourself. The book speaks volumes about how to stay connected and unconnected at the same time with your true self. It also teaches how to remain unattached to the things you don’t need to be attached to that aren’t serving you.No.1 goal for the next 12 monthsBryan’s number one goal for the next 12 months is to finish his third book about trust. The book will tackle what, how, why, when, and where we trust and how to rebuild it.Parting words “Remember that being human is now your competitive advantage. That’s what’s going to help you stand out. Andrew, thank you so much. I really appreciate you having me on the show, and I’m honored to have the alumni status.”Bryan Kramer [spp-transcript] Connect with Bryan KramerLinkedinTwitterFacebookInstagramYouTubeWebsitePodcastBooksAndrew’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