The key insights from this conversation include the importance of investing within one's sphere of competence, focusing on what one is good at to make money rather than trying to gamble in unfamiliar territories. It emphasizes the significance of leveraging one's core competencies in business to make investment decisions, rather than dabbling in risky ventures like stocks or crypto. The advice of a mentor to focus on creating wealth rather than engaging in speculative investing, and the reminder to play the game in one's unique way based on individual strengths and advantages are crucial takeaways. Ultimately, the experiences shared highlight the necessity of learning from mistakes, staying within the circle of competence, and aligning investment decisions with personal expertise to achieve success in wealth creation.
“The further away I get from my core, the more money I lose.” Today, Alex (@AlexHormozi) shares insights from his experiences with cryptocurrency and real estate investments, emphasizing the importance of operating within your sphere of competence. Highlighting lessons learned from financial losses, the episode underscores the value of skepticism towards enticing deals, the need for due diligence, and the benefits of leveraging personal expertise in investment strategies for wealth creation and preservation.
Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.
Timestamps:
(0:36) - Big loss from the crypto craze
(2:18) - Sticking to your sphere of competence
(6:29) - The real estate misadventure
(15:30) - Investing wisdom: Slow down and stay in your lane
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