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Suze: February 16, 2025. Welcome everybody to the Women and Money podcast,

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Suze: as well as everybody smart enough to listen. I hope

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Suze: you had a good Valentine's Day. Did you?

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Suze: I did, but we'll have to wait until Thursday when Ms.

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Suze: Travis can tell you all about it. But for now,

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Suze: I think you all should get out your little Suze notebooks,

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Suze: and today's Suze School is going to be very, very different.

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Suze: Because today Suze School, we're gonna have a guest. It's

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Suze: not gonna be just me. I'm gonna pretend like I'm

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Suze: KT and I'm going to be asking the true expert

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Suze: when it comes to certain things about value cost averaging

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Suze: dollar cost averaging, and oh, all kinds of other things

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Suze: that you wrote in and asked about before I introduce

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Suze: the most extraordinary and amazing.

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Suze: You have to wait till I say his name, but anyway,

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Suze: last Sunday I did an episode on value cost averaging.

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Suze: On the Women and Money Community app, I put up

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Suze: an example of how it works. Boom, there goes my

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Suze: email and I'm in the Women and Money community app,

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Suze: and you had question after question and I'll be honest

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Suze: with you,

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Suze: I'm not good enough at that because it isn't my concept. Remember,

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Suze: I was taught it by somebody, our guest, and I decided,

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Suze: you know what, all of you always deserve the best.

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Suze: You deserve the most knowledgeable in certain areas, in fact,

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Suze: in all areas and in this particular area that we're

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Suze: about to talk about today, which isn't just about value

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Suze: cost averaging, but it's about the markets overall, it's about

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Suze: individual stocks. It's how to make your money, make more

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Suze: money when it comes to investing.

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Suze: There's, in my opinion, the one and only Keith Fitz-Gerald,

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Suze: and he is with us right now. Good morning, boyfriend.

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Keith: Well, hello there. Thank you so much for having me.

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Keith: I've been looking forward to this all week and thanks

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Keith: to everybody listening for spending a few minutes of your

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Keith: time with us today. This could be great.

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Suze: This is great and you know so many people, Keith

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Suze: wrote in and they said, we wish this could be

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Suze: on video. We want to see both

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Suze: of you and then they would write in and they said,

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Suze: Why don't the two of you always do a podcast together?

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Suze: Oh my goodness. All right, so maybe we'll have to

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Suze: do that.

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Keith: Let's think about it. That would be so much fun,

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Keith: wouldn't it? All right.

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Suze: So everybody, if you don't know about value cost averaging,

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Suze: then you need to go back to last Sunday's podcast

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Suze: and listen to it. You just do. But so many

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Suze: of you have already listened to that podcast.

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Suze: Therefore, I'm gonna ask you, Keith, some of the questions

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Suze: that were on the wall and people wrote in. They

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Suze: want to know about it, but then we're gonna switch

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Suze: because people are also writing in and going, Keith, I

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Suze: bought Palantir at 20. Should I buy it more now?

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Suze: I mean, we have questions all over, but then I

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Suze: also want to give you a little time

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Suze: for you to tell everybody what you want to tell them,

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Suze: they're also asking about is a program going to come out?

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Suze: Is it not gonna come out? So let's answer all

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Suze: their questions today. Outstanding. And let's hopefully make them happy.

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Suze: Now I'm going to start off easy here for you. OK.

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Suze: All right. The first question, which I find fascinating is

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Suze: kind of generic.

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Suze: Doesn't everything depend on the day that you invest your

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Suze: money and where the stock is on that particular day?

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Keith: That is a very interesting question with a very simple answer,

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Keith: and it's no. And here's why the actual day you

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Keith: buy or the time of day you buy or the

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Keith: method by which you buy doesn't matter. The key with

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Keith: something like value cost averaging or even dollar cost averaging

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Keith: is to do it consistently. So if you look at

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Keith: the data, and this is what we do for a living,

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Keith: and we look at all this data, if you look

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Keith: at all the data for hundreds of years.

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Keith: If you're consistent, you are getting around market timing risk.

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Keith: You are harnessing volatility that others fear, so it doesn't

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Keith: matter whether you pick your birthday, whether you do it

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Keith: on Christmas, whether you pick another holiday, whether you do

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Keith: it even every Monday morning as long as you do

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Keith: it

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Keith: consistently.

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Suze: Great, there's one next.

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Suze: Looking forward to hearing from both of you together. Yeah, baby,

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Suze: here we are together. I know. Is there a more

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Suze: and you kind of just answered this, but I'm gonna

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Suze: keep drilling this in because I'm telling you people blew

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Suze: their minds with the details and really the minutia and

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Suze: it's really a little bit ridiculous. I have to tell you.

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Suze: Because they think you have to stick to a certain formula.

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Suze: You can't, it's like they've put themselves into this little

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Suze: box that they're afraid to come out of now. So ready,

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Suze: looking forward to hearing from both of you together. I

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Suze: don't blame you. Is there a more ideal time of

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Suze: day to invest the market open?

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Suze: The close and for VCA does it matter what time

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Suze: of month? Also, what about dividing funds for weekly or

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Suze: biweekly or stick to monthly? See how what they've done here?

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Suze: Oh sure, sure. So it's like they're thinking that.

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Suze: Everything has to be a certain way. Like when I

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Suze: gave the example last Sunday of $12,000 and $1000 a month,

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Suze: they literally took it that they needed $12,000 and they

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Suze: had to put in $1000 a month. So first of all, everybody,

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Suze: that was just an example last week.

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Suze: It's just an example. So you could do it with

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Suze: any amount, but that's the question. What's your answer?

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Keith: Well, there's two elements at work here, right? And they're

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Keith: both counterintuitive, and, and there's also some fun to this

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Keith: because like anything in the stock market, there's there's always

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Keith: rhyme or reason or some history. So when I started

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Keith: my career 45 years ago, I mean, I've been doing

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Keith: this for a long, long time.

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Keith: There used to be very definitely a time of day

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Keith: where you could swoop in and and have an advantage.

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Keith: And funny enough, that was roughly 10:35 in the morning

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Keith: and roughly 2:38 in the afternoon. And the reason why

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Keith: had nothing to do with the stock exchange.

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Keith: In the morning, the donut truck would show up and

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Keith: everybody run off the floor to go get donuts. In

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Keith: the afternoon, the hot dog truck would show up and

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Keith: everybody run off the floor to get hot dogs. So

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Keith: if you were trading or you're looking for just a

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Keith: little bit of an edge, you knew that there was

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Keith: going to be a lull in activity and frequently you

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Keith: could get a better price either buying or selling. So,

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Keith: you know, that used to be true, but now what's

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Keith: happened is we have this tremendous shift to computerization.

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Keith: And so most if you go to the New York

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Keith: Stock Exchange today, it's a very quiet place and people

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Keith: are walking around with iPads and there's very little open

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Keith: pit trading left in Chicago anymore. In fact, you go

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Keith: to the Hong Kong Exchange, which is one of the

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Keith: busiest in the world, and it's dead silent. So this

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Keith: idea that is there a better time to buy or

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Keith: a worse time to buy really is moot now because

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Keith: the computers have eliminated all of that. But if you

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Keith: really want to try.

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Keith: What we're seeing lately is that the first 30 minutes

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Keith: and the last 30 minutes are interesting because there's additional

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Keith: volatility and interesting can be good or bad. It just

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Keith: depends on how you approach it. So, so I would

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Keith: get that out of your head. The big key is

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Keith: consistency number one. The other thing is you're falling if

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Keith: you're thinking that way, there's nothing wrong with that. That's natural, right?

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Keith: A lot of people do that, but you're falling right

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Keith: into Wall Street's trap, OK? Wall Street wants you

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Keith: to think in smaller and smaller and smaller and smaller

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Keith: details because that's how you're easier to separate from your money.

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Keith: If you're constantly off balance, if you're focused on the minutiae,

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Keith: you're gonna get squeezed every time. The counterintuitive thing to

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Keith: do is to take a deep breath, take a step

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Keith: back and understand that investing as much as they want

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Keith: you to think it's a game of precision.

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Keith: Is a game of being close enough. You find great stocks,

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Keith: you invest in them consistently, you hold for as long

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Keith: as you can, you leave your money alone for as

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Keith: long as you can. That really is the key in

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Keith: today's markets. It's counterintuitive, so it's, I would encourage everybody listening. A,

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Keith: that's normal what you're feeling, but B, take a deep breath,

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Keith: step back, that's the real key to success.

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Suze: And the thing is, is that, does it matter if

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Suze: it's weekly, biweekly, or should they stick to monthly?

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Keith: OK, that's another wrinkle. Now that's really my encouragement is

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Keith: once a month is probably just fine for most investors.

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Keith: And and the reason is that if you start going

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Keith: down into weekly or biweekly, suddenly you're getting into market timing,

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Keith: you're getting into, you know, the world of very sophisticated

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Keith: traders who are out to separate you from your money

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Keith: and you don't want to play that game. The way

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Keith: to beat Wall Street is not to engage in fights

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Keith: you can't win and not to pick battles that they

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Keith: have an interest in fighting.

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Keith: And so again, counterintuitively, if you're investing consistently and you're

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Keith: doing it once a month, you are far more likely

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Keith: to make money over time than you are to lose it.

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Keith: You are also far more likely to harness the volatility

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Keith: they want you to fear.

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Keith: And finally, you are far more likely to sleep better

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Keith: at night, and I like that

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Keith: part.

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Suze: Yeah, but you see what I mean, how they're like

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Suze: getting into the how often whatever this next one is

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Suze: kind of about the what ifs. Do you have to

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Suze: then assign how much money you're allocating to each share

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Suze: in your portfolio at the beginning of the year?

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Suze: So people are confused about, well, I gave an example.

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Suze: You have $12,000 to invest, and again they freaked out.

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Suze: So the question is, here we are, maybe it's March,

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Suze: maybe it's April. How do you start doing this and

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Suze: how do you know how much to allocate to do

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Suze: this with?

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Keith: Well, again, this is like cooking a great recipe, right?

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Keith: You wanna know what ingredients you need before you get

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Keith: started because the last thing you want to do is

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Keith: if you're making great cookies, find out you're short of

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Keith: flour or maybe you're missing the chocolate chips you were

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Keith: counting on or something like that, right? My suggestion again is,

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Keith: is you want to think in as long a time

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Keith: frame as possible, 12 months a year, most of us

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Keith: can handle. Most of us can say, oh, you know, where,

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Keith: where am I gonna be 12 months from now? We

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Keith: actually call this the painted picture.

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Keith: And what we do is we test it out at

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Keith: the beginning of the year and we paint a picture.

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Keith: Where do I want to be in the year? What

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Keith: does my cash flow look like? What, what reasonably am

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Keith: I gonna have to invest? And that depends on your job,

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Keith: that depends on your family support. Do you have an

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Keith: emergency fund built up, all the things you constantly encourage

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Keith: your listeners to listen to and focus on and do.

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Keith: And once you got those decisions out of the way,

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Keith: it's simply, OK, how much can I realistically invest per month?

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Keith: What do I want my account to grow?

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Keith: And all you gotta be is close enough. You don't

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Keith: have to be to the penny and, and if your

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Keith: circumstances change during the year, then guess what? You can

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Keith: change your thinking too. The math still works. So you know, I,

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Keith: I liken this to holding my thumb up and looking

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Keith: at the horizon and if I can see the horizon

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Keith: around my thumb.

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Keith: That's about right.

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Suze: So it's not like you have to have a specific

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Suze: amount of money like $12,000 that you divide by 12,

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Suze: so you have to invest $1000 a month, whether it's

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Suze: dollar cost averaging or value cost averaging.

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Suze: You can change as time goes on, correct?

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Keith: Absolutely, and that's a vitally important concept to think about and,

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Keith: you know, I, I, I talk like you to tens

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Keith: of thousands of investors a year around the world, and

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Keith: one of the mistakes that everybody makes is they box

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Keith: themselves in.

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Keith: And in today's world, you can't do that. Today's world

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Keith: is constantly fluid, it's very dynamic. We live at one

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Keith: of the most exciting times in human history, which means

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Keith: that being flexible is exactly what you want to do

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Keith: because if you're being rigid and uncertain.

236
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Keith: And if you're being living in fear as opposed to

237
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Keith: investing in optimism, you've already doomed yourself to to bad performance.

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Keith: What you want is to build your wealth and your

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Keith: confidence and your knowledge as the markets do that.

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Suze: Where everybody seems to be confused because of the example

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Suze: that I gave.

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Keith: Welcome

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Keith: to my world,

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Suze: right? Which

245
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Suze: is with value cost averaging you look at the value

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Suze: that you intended to have as you know, every single

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Suze: month and you invest according to that depending on the

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Suze: stock price. Again, for those of you who don't know

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Suze: what I'm talking about, listen to last Sunday's podcast or

250
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Suze: look at the example on the Women and Money community app.

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Suze: So this now.

252
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Suze: Is using that example of $1000 a month, $12,000 at

253
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Suze: the end of the year for your target value. Here

254
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Suze: is the question.

255
00:13:55,969 --> 00:14:00,659
Suze: I'm getting a little confused around month 6 because everybody

256
00:14:00,659 --> 00:14:05,020
Suze: obviously in month 6, your target value at $1000 a

257
00:14:05,020 --> 00:14:08,739
Suze: month would be $6000 for that month. All right.

258
00:14:09,419 --> 00:14:12,848
Suze: I thought the target portfolio amount for month 6 would

259
00:14:12,849 --> 00:14:17,739
Suze: be $6000 which I think is the actual portfolio value.

260
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Suze: If the stock is at $120 a share, which we

261
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Suze: said it had gone back up to.

262
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Suze: Then that means that it's already at $6000 and we

263
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Suze: don't need to add any more money for that month.

264
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Suze: So what do we do?

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Keith: OK, so let's take the the model and the example

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Keith: out of the equation for it. Let's imagine we're going

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Keith: to the grocery store, and let's imagine we've got lately

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Keith: $100 for eggs, but I mean, you know, let's let's

269
00:14:48,960 --> 00:14:51,359
Keith: just imagine we've got $20 and we want to buy

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Keith: some eggs, right?

271
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Keith: If we see the price of eggs go on sale

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Keith: and we know we're gonna need them, it's very likely

273
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Keith: you're gonna buy something that's on sale, right? You're gonna

274
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Keith: take that extra amount of money and you're gonna buy

275
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Keith: a few extra eggs because odds are good that the

276
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Keith: price of those eggs is gonna go higher next week.

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Keith: That is value cost averaging in a nutshell. If you

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Keith: have a sale in front of you, you spend a

279
00:15:11,659 --> 00:15:13,840
Keith: little bit extra money to buy whatever stock it is

280
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Keith: you want to get your hands on. If the price

281
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Keith: of eggs goes higher and you've already got your eggs

282
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Keith: on the shelf, guess what? You don't need to buy them.

283
00:15:21,159 --> 00:15:23,239
Keith: The value of your eggs is already there. You've got

284
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Keith: them on your shelf, they're already in your pantry. Value

285
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Keith: cost averaging with stocks is the same way. If you

286
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Keith: have a sale, if the markets come down on you,

287
00:15:32,400 --> 00:15:34,400
Keith: if the price of that stock drops.

288
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Keith: What you want to do is think about your target

289
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Keith: in terms of, OK, my portfolio is worth $100 next

290
00:15:40,210 --> 00:15:43,359
Keith: month I want it worth $110 so I'm gonna add

291
00:15:43,359 --> 00:15:46,570
Keith: a little extra money to bring the value of my

292
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Keith: portfolio to 110 regardless of what the stock has done.

293
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Keith: So you buy a few extra shares and the advantage

294
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Keith: to doing that, Suze, is that you buy low, you

295
00:15:55,679 --> 00:15:57,010
Keith: sell high over time.

296
00:15:57,270 --> 00:16:01,340
Keith: That dramatically accelerates your profit potential, particularly if you're working

297
00:16:01,340 --> 00:16:03,549
Keith: with dividend stocks and you're leaving your money alone for

298
00:16:03,549 --> 00:16:06,190
Keith: a long time. You will come roaring out of the

299
00:16:06,190 --> 00:16:09,030
Keith: basement and turn around 4 or 5 years from now

300
00:16:09,030 --> 00:16:13,070
Keith: and go, wow, I had no idea because suddenly you've

301
00:16:13,390 --> 00:16:15,429
Keith: bought lower and sold higher.

302
00:16:16,090 --> 00:16:19,890
Suze: The main difference that I think I have right, you'll

303
00:16:19,890 --> 00:16:24,239
Suze: have to tell me, but that most people aren't quite

304
00:16:24,239 --> 00:16:29,130
Suze: grasping is that dollar cost averaging was very simple for them.

305
00:16:29,580 --> 00:16:32,679
Suze: They picked a specific amount of money and they pushed

306
00:16:32,679 --> 00:16:36,590
Suze: automatic and every month that amount of money was taken

307
00:16:36,590 --> 00:16:41,270
Suze: out of their money market accounts to buy stock. What

308
00:16:41,270 --> 00:16:47,760
Suze: they're missing, however, is with value cost averaging, even though

309
00:16:47,760 --> 00:16:52,150
Suze: in both cases as the stock goes down you're buying more.

310
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Suze: And obviously as the stock goes up, you're buying less,

311
00:16:56,960 --> 00:17:01,229
Suze: but with value cost averaging, you're getting a little bit more.

312
00:17:01,630 --> 00:17:05,079
Suze: Than with dollar cost averaging because you're not sticking to

313
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Suze: the same dollar amount every month.

314
00:17:08,849 --> 00:17:09,643
Keith: Bingo.

315
00:17:09,643 --> 00:17:10,670
Suze: Say that again.

316
00:17:10,880 --> 00:17:11,400
Keith: Bingo.

317
00:17:11,638 --> 00:17:12,229
Suze: Say it again...

318
00:17:12,280 --> 00:17:15,699
Keith: Bingo bingo bingo bingo bingo bingo bingo bingo bingo.

319
00:17:15,880 --> 00:17:19,599
Suze: And that's what they're missing. You want to get more

320
00:17:19,599 --> 00:17:23,040
Suze: value for your money, everybody. You don't want to go

321
00:17:23,040 --> 00:17:25,119
Suze: on automatic and just oh,

322
00:17:25,510 --> 00:17:29,540
Suze: I'm going to invest $1000 a month or $100 a month.

323
00:17:29,770 --> 00:17:34,609
Suze: When if you just invested $120 a month, you would

324
00:17:34,609 --> 00:17:38,050
Suze: be getting a few more, even if it's a half

325
00:17:38,050 --> 00:17:42,089
Suze: a fraction of a share more, that half a fraction

326
00:17:42,089 --> 00:17:45,520
Suze: of a share more will make you a whole lot

327
00:17:45,520 --> 00:17:48,810
Suze: more money in the long run, and that is what

328
00:17:48,810 --> 00:17:50,410
Suze: they are missing.

329
00:17:50,930 --> 00:17:54,810
Suze: Right, so again, just to repeat like another question, maybe

330
00:17:54,810 --> 00:17:57,329
Suze: I missed something. What if month 4, the value is

331
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Suze: at $4000 and you don't buy any more shares. So

332
00:18:01,579 --> 00:18:06,050
Suze: in fact you might not actually invest the whole $12,000

333
00:18:06,050 --> 00:18:10,369
Suze: in one year because the account value has increased. They forget,

334
00:18:10,969 --> 00:18:13,170
Suze: well, you tell them what they forget, what they could

335
00:18:13,170 --> 00:18:14,260
Suze: do with that money.

336
00:18:14,930 --> 00:18:17,410
Keith: Well, you forget two things, right, because if you've got

337
00:18:17,410 --> 00:18:19,729
Keith: a stockpile of cash and it's sitting on your pantry

338
00:18:19,729 --> 00:18:22,290
Keith: shelf and the eggs go on sale, number one, you've

339
00:18:22,290 --> 00:18:25,050
Keith: got the flexibility to go ahead and buy them if

340
00:18:25,050 --> 00:18:29,250
Keith: you want, but number two, if you're used to dollar

341
00:18:29,250 --> 00:18:32,640
Keith: cost averaging and you're disciplined and you already got that

342
00:18:32,640 --> 00:18:36,930
Keith: under control, here's where this gets really cool and really interesting.

343
00:18:37,380 --> 00:18:39,989
Keith: Because if you're used to putting in $500 a month

344
00:18:39,989 --> 00:18:43,099
Keith: and you're already mentally disciplined, you're paying yourself, you're doing

345
00:18:43,099 --> 00:18:46,390
Keith: all the things Suze encourages you to do constantly, then

346
00:18:46,390 --> 00:18:48,020
Keith: go ahead and do it anyway. But put it in

347
00:18:48,020 --> 00:18:49,979
Keith: a short term Treasury fund. Now all of a sudden

348
00:18:49,979 --> 00:18:53,560
Keith: you're earning 4%, 3%, 5%. Your cash is stockpiled. It's

349
00:18:53,560 --> 00:18:55,958
Keith: not sitting there. You're not tempted to spend it because

350
00:18:55,959 --> 00:18:58,139
Keith: you've already paid yourself, you've already invested.

351
00:18:58,890 --> 00:19:00,639
Keith: And then when you get the chance and the market

352
00:19:00,640 --> 00:19:05,560
Keith: will inevitably hand you several chances during the year to

353
00:19:05,560 --> 00:19:05,719
Keith: do

354
00:19:05,719 --> 00:19:06,150
Keith: this.

355
00:19:06,959 --> 00:19:11,438
Suze: Or you could take that extra money that you're not

356
00:19:11,439 --> 00:19:15,680
Suze: investing in stock A and possibly start to do the

357
00:19:15,680 --> 00:19:20,319
Suze: same thing with stock B or another ETF. So there's

358
00:19:20,319 --> 00:19:23,400
Suze: you don't have to just stick with one stock and

359
00:19:23,400 --> 00:19:25,640
Suze: just go, oh, now what do I do? Do you?

360
00:19:25,680 --> 00:19:27,760
Suze: Are you starting to get this, everybody?

361
00:19:28,270 --> 00:19:31,430
Suze: You've put yourself into a box, and the last thing

362
00:19:31,430 --> 00:19:33,469
Suze: both Keith and I want you to do when it

363
00:19:33,469 --> 00:19:39,020
Suze: comes to investing is limit yourself. Investing is about expansion.

364
00:19:39,510 --> 00:19:45,659
Suze: The investing is about understanding your own emotions and really

365
00:19:46,030 --> 00:19:48,979
Suze: keeping them at bay and thinking, oh, I've done something wrong,

366
00:19:49,069 --> 00:19:50,510
Suze: I da da da, no.

367
00:19:51,469 --> 00:19:56,439
Suze: Just keep listening and you'll get it. Last one on this,

368
00:19:56,609 --> 00:20:01,609
Suze: which is maybe I'm not completely understanding it, but it

369
00:20:01,609 --> 00:20:03,719
Suze: seems that in this example.

370
00:20:04,369 --> 00:20:08,410
Suze: Why did I give this example anyway of having $12,000

371
00:20:08,410 --> 00:20:13,369
Suze: to invest that if the stock price is decreasing for

372
00:20:13,369 --> 00:20:18,369
Suze: several months or there is a steep drop, would you

373
00:20:18,369 --> 00:20:23,520
Suze: deplete your $12,000 before month 12?

374
00:20:24,359 --> 00:20:28,949
Keith: OK, that is A, a very smart question, B, a

375
00:20:28,949 --> 00:20:32,229
Keith: very logical question, and C, I love it because it

376
00:20:32,229 --> 00:20:35,189
Keith: means you're thinking ahead. You're really beginning to understand how

377
00:20:35,189 --> 00:20:39,829
Keith: this works. The markets go through protracted downturns.

378
00:20:40,130 --> 00:20:42,209
Keith: But here's the thing, and this is where you've got

379
00:20:42,209 --> 00:20:44,709
Keith: to really again I've been doing this a long time.

380
00:20:44,900 --> 00:20:47,140
Keith: One of the hardest lessons for me to learn as

381
00:20:47,140 --> 00:20:49,420
Keith: I came up through the ranks is you've got to

382
00:20:49,420 --> 00:20:52,739
Keith: learn to trust the numbers. You've got to learn to

383
00:20:52,739 --> 00:20:55,140
Keith: trust human psychology and let me give you a data

384
00:20:55,140 --> 00:20:58,459
Keith: point that will really drive this home is the markets

385
00:20:58,459 --> 00:21:02,380
Keith: since 1871 have a very defined upward bias. If you

386
00:21:02,380 --> 00:21:05,140
Keith: look at other markets for even far more ancient periods

387
00:21:05,140 --> 00:21:06,780
Keith: in history, they all have an upside bias.

388
00:21:07,160 --> 00:21:11,410
Keith: But our stock markets today since 1871, have spent 83%

389
00:21:11,410 --> 00:21:16,250
Keith: to 85% of the time at or within 10% of

390
00:21:16,250 --> 00:21:18,050
Keith: new all-time highs.

391
00:21:19,520 --> 00:21:22,239
Keith: Meaning that there are a lot more bulls than bears

392
00:21:22,239 --> 00:21:24,560
Keith: over time and if you buy the right companies, if

393
00:21:24,560 --> 00:21:27,879
Keith: you're DCA or VCA into the right companies, you are

394
00:21:27,880 --> 00:21:31,879
Keith: automatically putting the odds in your favor. That's roughly if

395
00:21:31,880 --> 00:21:35,310
Keith: we look at it again since 1871, there's 1300 new highs.

396
00:21:35,319 --> 00:21:39,159
Keith: That's roughly one new all-time high a month for a

397
00:21:39,160 --> 00:21:40,359
Keith: long period of time, so...

398
00:21:41,219 --> 00:21:46,379
Keith: The idea that you're playing not to lose is where

399
00:21:46,380 --> 00:21:47,530
Keith: everybody's mindset is.

400
00:21:48,479 --> 00:21:51,829
Keith: But where your mindset should be is playing to win.

401
00:21:52,239 --> 00:21:55,389
Keith: And and that's a very different mental calculus. And again,

402
00:21:55,880 --> 00:21:58,839
Keith: if you're thinking I'm playing not to lose, there's nothing

403
00:21:58,839 --> 00:22:01,520
Keith: wrong with that, that worked for a long time, diversification

404
00:22:01,520 --> 00:22:04,119
Keith: worked for a long time, but you're falling into Wall

405
00:22:04,119 --> 00:22:04,750
Keith: Street's trap.

406
00:22:05,790 --> 00:22:07,900
Keith: What you want to think about is flipping that around,

407
00:22:08,109 --> 00:22:12,069
Keith: playing to win, playing to get those great companies, playing

408
00:22:12,069 --> 00:22:14,670
Keith: to build your wealth. This is not a competition, it's

409
00:22:14,670 --> 00:22:17,040
Keith: about what you want to achieve with your life and

410
00:22:17,040 --> 00:22:18,270
Keith: your world and your money.

411
00:22:18,569 --> 00:22:20,410
Keith: Because if you work hard for your money, there's gonna

412
00:22:20,410 --> 00:22:22,650
Keith: come a day where your money works hard for you

413
00:22:22,650 --> 00:22:25,380
Keith: and that's what VCA is all about. It's, it's like taking,

414
00:22:25,449 --> 00:22:29,609
Keith: you know, buying holds good DCA is better, but VCA

415
00:22:29,609 --> 00:22:32,609
Keith: really now you're cooking with some hot sauce. It gives

416
00:22:32,609 --> 00:22:36,409
Keith: you the opportunity for bigger returns, less risk, and discipline.

417
00:22:37,510 --> 00:22:41,829
Suze: So to answer his question though, the chances of him

418
00:22:41,829 --> 00:22:42,229
Suze: being told

419
00:22:42,229 --> 00:22:43,290
Keith: I forgot about that part.

420
00:22:43,510 --> 00:22:45,669
Keith: I got so excited. I forgot about that part. I mean,

421
00:22:45,750 --> 00:22:48,900
Keith: I love what I do. Yes, to answer your question,

422
00:22:49,109 --> 00:22:55,589
Keith: that is absolutely possible in a protracted downturn. However, we've

423
00:22:55,589 --> 00:22:57,189
Keith: done a lot of research in this area.

424
00:22:57,640 --> 00:23:00,400
Keith: That's not a bad thing either, because what it means

425
00:23:00,400 --> 00:23:05,770
Keith: is you have now invested deeply, you've invested at a

426
00:23:05,770 --> 00:23:09,488
Keith: substantial discount and you've built up a substantial reserve for

427
00:23:09,489 --> 00:23:11,449
Keith: when the markets come roaring back, and they

428
00:23:11,449 --> 00:23:11,839
Keith: will.

429
00:23:12,959 --> 00:23:17,239
Suze: Because remember everybody, these markets aren't going to tank overnight

430
00:23:17,239 --> 00:23:22,300
Suze: 50 or 100%, and if you keep being diligent, you're investing,

431
00:23:22,439 --> 00:23:25,119
Suze: you're investing, and you're investing, and now you're out of

432
00:23:25,119 --> 00:23:29,389
Suze: your $12,000 it's all spent, but you haven't lost the money,

433
00:23:29,400 --> 00:23:33,719
Suze: it's invested in a stock that you wanted to buy.

434
00:23:34,260 --> 00:23:37,399
Suze: That was a good quality stock, and the reason that

435
00:23:37,400 --> 00:23:40,989
Suze: it went down isn't cause the stock itself was bad.

436
00:23:41,239 --> 00:23:44,349
Suze: It's that all the boats were sinking cause the water

437
00:23:44,349 --> 00:23:48,849
Suze: went down when it turns around and a great example

438
00:23:48,849 --> 00:23:50,680
Suze: of this was 2009.

439
00:23:51,430 --> 00:23:54,198
Suze: You know, when the Standard and Poor's 500 index, I think,

440
00:23:54,209 --> 00:23:57,849
Suze: was at 600, and all these stocks were at nothing.

441
00:23:57,930 --> 00:24:01,810
Suze: They had all gone down incredibly and if you just

442
00:24:01,810 --> 00:24:03,609
Suze: kept them and now you have a whole lot of

443
00:24:03,609 --> 00:24:06,300
Suze: shares because they got so cheap as you were buying them,

444
00:24:06,530 --> 00:24:09,739
Suze: oh my God, you made a fortune over the next years,

445
00:24:10,010 --> 00:24:12,209
Suze: so you're not out of money.

446
00:24:12,800 --> 00:24:17,520
Suze: You've invested all the money that you designated towards that stock,

447
00:24:17,810 --> 00:24:20,930
Suze: and once that amount of money is designated, you bought

448
00:24:20,930 --> 00:24:22,760
Suze: all the shares you can with it.

449
00:24:23,010 --> 00:24:23,379
Keith: Good.

450
00:24:23,849 --> 00:24:24,609
Suze: Now you just told

451
00:24:24,609 --> 00:24:25,000
Suze: them.

452
00:24:25,010 --> 00:24:28,250
Keith: And, and the really cool thing about that, right, and again,

453
00:24:28,329 --> 00:24:30,310
Keith: you know, learning this as a professional trader is a

454
00:24:30,310 --> 00:24:31,050
Keith: professional investor.

455
00:24:31,319 --> 00:24:35,189
Keith: That's a great problem to have because of the dramatically

456
00:24:35,189 --> 00:24:38,589
Keith: increased profit potential when the markets come roaring back. So it's,

457
00:24:38,609 --> 00:24:40,790
Keith: it's maybe you think, oh this is, this is a

458
00:24:40,790 --> 00:24:42,829
Keith: bad amount of cash. I can't buy more. That's the

459
00:24:42,829 --> 00:24:45,270
Keith: real problem is you can't buy more, but you've already

460
00:24:45,270 --> 00:24:47,750
Keith: locked in your future returns. So I mean how cool

461
00:24:47,750 --> 00:24:50,139
Keith: a trade-off is that? And, and you know again it's,

462
00:24:50,150 --> 00:24:51,310
Keith: it's counterintuitive.

463
00:24:52,069 --> 00:24:55,379
Keith: It doesn't make a lot of sense at first, but

464
00:24:55,380 --> 00:24:57,659
Keith: when you really think about buying at a discount and

465
00:24:57,660 --> 00:24:59,589
Keith: you think about buying these great companies, I mean this

466
00:24:59,589 --> 00:25:02,540
Keith: is like buying Apple at $10 a year or being

467
00:25:02,540 --> 00:25:05,219
Keith: able to buy Palantir at 6 when it dropped. I

468
00:25:05,219 --> 00:25:08,859
Keith: mean think about that, right? I did. Exactly, me too.

469
00:25:08,939 --> 00:25:10,349
Keith: I mean, I bought more, you know, I mean people,

470
00:25:10,619 --> 00:25:13,609
Keith: people are like, oh my God, but it could go down. Yes,

471
00:25:13,619 --> 00:25:17,459
Keith: it could, but when it comes roaring back, imagine how

472
00:25:17,459 --> 00:25:20,179
Keith: much bigger your profit potential has become.

473
00:25:20,709 --> 00:25:24,030
Keith: That's how a winner thinks. So we get rid of

474
00:25:24,030 --> 00:25:25,869
Keith: that fear. I mean, that's normal, that's, you know, you're

475
00:25:25,869 --> 00:25:28,948
Keith: not abnormal if you're feeling that, but do make an

476
00:25:28,949 --> 00:25:31,159
Keith: effort to take those emotions out of the equation because

477
00:25:31,390 --> 00:25:35,109
Keith: you are listening to Suze, you are playing to win.

478
00:25:35,810 --> 00:25:39,719
Suze: And they're also, if they're smart, they're listening to you.

479
00:25:39,920 --> 00:25:40,130
Keith: You're

480
00:25:40,130 --> 00:25:40,400
Suze: very

481
00:25:40,400 --> 00:25:40,650
Keith: kind.

482
00:25:41,060 --> 00:25:44,280
Suze: So one last about this, then we'll quickly go to

483
00:25:44,280 --> 00:25:46,719
Suze: Palantir and other things, but

484
00:25:47,989 --> 00:25:51,099
Suze: all these people did this Monte Carlos. They, I mean,

485
00:25:51,300 --> 00:25:54,310
Suze: some of these people went to the 10th degree to

486
00:25:54,310 --> 00:25:59,839
Suze: figure out what's better, dollar cost averaging or value cost averaging,

487
00:26:00,209 --> 00:26:03,099
Suze: and they want to know as if it makes really

488
00:26:03,099 --> 00:26:08,149
Suze: a tremendous difference. So just briefly, can you answer that

489
00:26:08,150 --> 00:26:08,550
Suze: for these

490
00:26:08,550 --> 00:26:09,389
Suze: people?

491
00:26:09,589 --> 00:26:12,550
Keith: Absolutely. So I was king of the nerd herd growing up.

492
00:26:12,630 --> 00:26:14,310
Keith: I had my propeller beanie and everything.

493
00:26:14,660 --> 00:26:17,349
Keith: And you know my background is in nonlinear data science,

494
00:26:17,469 --> 00:26:19,989
Keith: so this is a question that we have spent tens

495
00:26:19,989 --> 00:26:23,819
Keith: of thousands of hours of computing time on. Uh, yes,

496
00:26:23,829 --> 00:26:27,109
Keith: we've run those same Monte Carlo simulations we have run

497
00:26:27,109 --> 00:26:29,329
Keith: all of the randommizers you can think we've done walk

498
00:26:29,329 --> 00:26:32,069
Keith: forward testing we've run back testing we've done testing on

499
00:26:32,069 --> 00:26:32,670
Keith: the testing.

500
00:26:33,229 --> 00:26:37,290
Keith: And what we have learned is that there is absolutely

501
00:26:37,290 --> 00:26:40,688
Keith: no question that value cost average is the best way

502
00:26:40,689 --> 00:26:43,760
Keith: to go. Where it breaks down is when people start

503
00:26:43,760 --> 00:26:45,290
Keith: trying to second guess it. Oh, I've got to do

504
00:26:45,290 --> 00:26:46,689
Keith: it on this date. I've got to do it on

505
00:26:46,689 --> 00:26:49,079
Keith: this time. I've got to, I'm gonna be out of cash.

506
00:26:49,180 --> 00:26:52,530
Keith: Oh my gosh, it's falling too long. Those are questions

507
00:26:52,530 --> 00:26:55,810
Keith: that are put on by human limitations, not quantitative limitations

508
00:26:55,810 --> 00:26:56,770
Keith: as part of the modeling.

509
00:26:57,109 --> 00:26:59,099
Keith: And so we've run it with small data sets, we've

510
00:26:59,099 --> 00:27:01,500
Keith: run it with millions and billions of data points in

511
00:27:01,579 --> 00:27:06,020
Keith: in the sets in every single time under a wide

512
00:27:06,020 --> 00:27:08,419
Keith: range of conditions, both hypothetical and real.

513
00:27:09,479 --> 00:27:10,439
Keith: VCA wins.

514
00:27:10,640 --> 00:27:13,989
Suze: Yeah, so for those of you who wrote into me,

515
00:27:14,000 --> 00:27:17,839
Suze: and I appreciate it, and you present like I ran

516
00:27:17,839 --> 00:27:20,920
Suze: this Monte Carlo, which is, it's uh it's a program

517
00:27:20,920 --> 00:27:24,280
Suze: that I don't know. I've yet to really think that

518
00:27:24,280 --> 00:27:26,280
Suze: it comes out with the best answers for all of you,

519
00:27:26,359 --> 00:27:27,829
Suze: but that's besides the point.

520
00:27:28,400 --> 00:27:29,520
Keith: Well, let me, let me, let me, let me spoke about

521
00:27:29,520 --> 00:27:31,560
Keith: that there is, there's an interesting thing, right? So the

522
00:27:31,560 --> 00:27:35,910
Keith: Monte Carlo simulation is a quantitative exercise that supposedly introduces randomizing,

523
00:27:36,040 --> 00:27:38,708
Keith: you know, variables to the test set and

524
00:27:39,199 --> 00:27:42,400
Keith: there's a huge proposition in the market that Burton Michael

525
00:27:42,400 --> 00:27:44,290
Keith: wrote this thing, a random walk down Wall Street and

526
00:27:44,290 --> 00:27:48,069
Keith: the markets are random, nobody can predict it. Well, I believe,

527
00:27:48,160 --> 00:27:50,069
Keith: you know, people who are a lot smarter than I am,

528
00:27:50,270 --> 00:27:51,160
Keith: believe that's not true.

529
00:27:51,849 --> 00:27:55,599
Keith: The markets are not random. There are very predictable elements

530
00:27:55,599 --> 00:27:59,640
Keith: to them, and that is exactly why VCA works in

531
00:27:59,640 --> 00:28:02,438
Keith: today's markets is because what we're doing is we're not

532
00:28:02,439 --> 00:28:04,839
Keith: working on the random price nature of the markets. We're

533
00:28:04,839 --> 00:28:07,160
Keith: not working on the random stocks. We're very deliberate about

534
00:28:07,160 --> 00:28:09,849
Keith: which stocks are we picking, how are we using it,

535
00:28:09,920 --> 00:28:11,478
Keith: what are the tactics we're picking.

536
00:28:11,849 --> 00:28:15,229
Keith: So we're automatically stacking the odds in our favor to

537
00:28:15,229 --> 00:28:18,030
Keith: nth degree. I mean, now, obviously, you know, the world

538
00:28:18,030 --> 00:28:19,708
Keith: could be a very quiet place for a few 1000

539
00:28:19,709 --> 00:28:22,109
Keith: years if things get out of control geopolitically, but the

540
00:28:22,109 --> 00:28:24,560
Keith: markets are not going to be our worry if that happens, right?

541
00:28:24,670 --> 00:28:27,069
Keith: So take that out. It's more important to reinvest as

542
00:28:27,069 --> 00:28:29,219
Keith: if the sun's coming up tomorrow. And what we know

543
00:28:29,219 --> 00:28:31,709
Keith: from the Monte Carlo simulations and all the other simulations

544
00:28:31,709 --> 00:28:33,780
Keith: we do is if VCA wins.

545
00:28:34,270 --> 00:28:35,619
Suze: But you know it's so funny.

546
00:28:36,290 --> 00:28:40,520
Suze: These people right and they're so proud at the research

547
00:28:40,770 --> 00:28:42,869
Suze: and the things that they've done. I just want to

548
00:28:42,869 --> 00:28:46,609
Suze: say something to all of you. I'm thrilled that you're

549
00:28:46,609 --> 00:28:47,250
Suze: doing that.

550
00:28:47,709 --> 00:28:50,739
Suze: And you come up with your own conclusion based on

551
00:28:50,739 --> 00:28:54,859
Suze: maybe one study or whatever. I'm asking you all now

552
00:28:54,859 --> 00:28:58,819
Suze: to listen to Keith. For 40 years he has been

553
00:28:58,819 --> 00:29:02,339
Suze: doing this. When he says he's a propeller head and

554
00:29:02,339 --> 00:29:06,099
Suze: a nerd. Oh, he is. Half the time he's talking

555
00:29:06,099 --> 00:29:08,540
Suze: about things and I'm like, What the hell did you

556
00:29:08,540 --> 00:29:12,939
Suze: just say? But you can run your own if you want.

557
00:29:13,479 --> 00:29:18,270
Suze: Or you could take 40 years of experience and millions

558
00:29:18,270 --> 00:29:20,619
Suze: of dollars of research.

559
00:29:21,469 --> 00:29:25,630
Suze: Computerization that none of you have the ability to do

560
00:29:25,630 --> 00:29:29,589
Suze: truthfully and listen to what he just said. He has

561
00:29:29,589 --> 00:29:33,780
Suze: nothing to gain other than to help you help yourself.

562
00:29:34,030 --> 00:29:36,540
Suze: We're switching now. We'll run this podcast a little bit

563
00:29:36,540 --> 00:29:40,589
Suze: longer than normal because we have the master here and

564
00:29:40,589 --> 00:29:44,140
Suze: I just want to answer the main things you want

565
00:29:44,140 --> 00:29:47,040
Suze: to know, which is ready for this drum roll.

566
00:29:48,310 --> 00:29:48,504
Keith: (Keith makes a drum roll sound)

567
00:29:48,504 --> 00:29:53,270
Suze: There we go. Is it too late to buy Palantir?

568
00:29:54,589 --> 00:29:55,180
Keith: No

569
00:29:55,660 --> 00:29:56,219
Keith: way.

570
00:29:57,040 --> 00:30:01,430
Suze: I thought you were gonna say no way, but anyway,

571
00:30:01,520 --> 00:30:03,880
Suze: if he were just talking to me alone, everybody, he

572
00:30:03,880 --> 00:30:06,479
Suze: would have used the word. But since we're on a podcast,

573
00:30:06,630 --> 00:30:09,699
Suze: he's trying to show you he's a dignified man, which

574
00:30:09,699 --> 00:30:13,640
Suze: he is. You're very good. Anyway, go on, go on.

575
00:30:14,000 --> 00:30:16,119
Keith: So, so here's, here's how you break it down, right? And, and,

576
00:30:16,199 --> 00:30:19,469
Keith: and again, there are a couple different elements that intersect here,

577
00:30:19,599 --> 00:30:21,949
Keith: which is why people are asking this question, right?

578
00:30:22,243 --> 00:30:24,583
Keith: Number one, oh my God, is it too late? Well,

579
00:30:24,942 --> 00:30:27,873
Keith: think about that. If it's a great party and you

580
00:30:27,873 --> 00:30:30,072
Keith: know it's gonna go on for a long time, are

581
00:30:30,072 --> 00:30:31,633
Keith: you too late to get there at 8 o'clock as

582
00:30:31,633 --> 00:30:33,593
Keith: opposed to 7 o'clock? No way. You're gonna walk through

583
00:30:33,593 --> 00:30:36,272
Keith: the door and have a great time, right? Now you're

584
00:30:36,272 --> 00:30:37,993
Keith: gonna have to look a little harder because maybe the

585
00:30:37,993 --> 00:30:39,672
Keith: room's gonna be a little crowded before you get to

586
00:30:39,672 --> 00:30:42,062
Keith: the bar, the cocktail tray or the hors d'oeuvres, whatever.

587
00:30:42,392 --> 00:30:46,853
Keith: Same situation here Palantir is still a phenomenal stock. It

588
00:30:46,853 --> 00:30:47,463
Keith: is still.

589
00:30:47,595 --> 00:30:50,426
Keith: Early days we are still ahead of one of the

590
00:30:50,426 --> 00:30:54,946
Keith: greatest single trends in recorded human history and that's how

591
00:30:54,946 --> 00:30:58,306
Keith: we use AI and big data. There is nobody else

592
00:30:58,306 --> 00:31:01,426
Keith: who does what they do. The numbers are all going

593
00:31:01,426 --> 00:31:06,056
Keith: in the right direction. The CEO is unapologetically in support

594
00:31:06,056 --> 00:31:08,865
Keith: of his shareholders. He could give a, you know what

595
00:31:08,865 --> 00:31:12,975
Keith: about Wall Street, which is really attractive from an investing standpoint,

596
00:31:13,345 --> 00:31:15,026
Keith: but then at the bottom line.

597
00:31:16,199 --> 00:31:19,540
Keith: The way you control this is to use a tactic

598
00:31:19,540 --> 00:31:25,089
Keith: like VCA because behind the scenes professional traders have, believe

599
00:31:25,089 --> 00:31:28,849
Keith: it or not, they have largely missed the boat. They

600
00:31:29,050 --> 00:31:32,410
Keith: couldn't check their boxes they couldn't see Palantir in their spreadsheets.

601
00:31:32,449 --> 00:31:35,469
Keith: I can't tell you how many thousands of traders, professionals

602
00:31:35,469 --> 00:31:39,449
Keith: I've heard from, seen, watched, who missed this boat. So

603
00:31:39,449 --> 00:31:40,810
Keith: now they know they've missed it.

604
00:31:41,130 --> 00:31:44,099
Keith: So their goal is going to be to introduce volatility,

605
00:31:44,390 --> 00:31:47,900
Keith: scare you out of your shares at a lower price

606
00:31:47,900 --> 00:31:50,069
Keith: so they can buy it and use VCA or some

607
00:31:50,069 --> 00:31:52,430
Keith: variant of it that we've been talking about so that

608
00:31:52,430 --> 00:31:55,060
Keith: they can get their hands on the run higher. I

609
00:31:55,060 --> 00:31:57,390
Keith: think we're looking at $200 a share. I was a

610
00:31:57,390 --> 00:32:00,900
Keith: lone wolf in the woods when I said that initially.

611
00:32:01,109 --> 00:32:05,390
Keith: I mean, we took out every price target 50, 70, 80, 100.

612
00:32:05,589 --> 00:32:08,589
Keith: I think we're $200 within 36 months, probably quite a

613
00:32:08,589 --> 00:32:09,589
Keith: bit sooner than that.

614
00:32:10,469 --> 00:32:13,530
Suze: So another question is how do I know if I'm

615
00:32:13,530 --> 00:32:16,569
Suze: investing too much in Palantir? I don't know. I think

616
00:32:16,569 --> 00:32:19,040
Suze: you can't invest enough in it, but that's just my opinion.

617
00:32:19,170 --> 00:32:19,770
Suze: Go on.

618
00:32:21,270 --> 00:32:23,829
Keith: Well, that is a very simple answer too, believe it

619
00:32:23,829 --> 00:32:25,609
Keith: or not, again, it has nothing to do with numbers.

620
00:32:25,770 --> 00:32:28,069
Keith: Are you sleeping at night? I mean, are you worried

621
00:32:28,069 --> 00:32:30,540
Keith: about it because if you're asking that question, my answer

622
00:32:30,540 --> 00:32:32,829
Keith: would be, and having worked with thousands of investors around

623
00:32:32,829 --> 00:32:36,349
Keith: the world for decades, is if you're asking that question

624
00:32:36,349 --> 00:32:38,469
Keith: or you're losing sleep at night, you've got too much

625
00:32:38,469 --> 00:32:40,859
Keith: risk on the table. So dial it back.

626
00:32:41,390 --> 00:32:44,780
Suze: The next one is that if Palantir has doubled on you,

627
00:32:45,750 --> 00:32:48,239
Suze: and the truth is many of these people bought it

628
00:32:48,239 --> 00:32:49,030
Suze: at 20.

629
00:32:49,660 --> 00:32:50,260
Keith: How cool is

630
00:32:50,260 --> 00:32:50,780
Keith: that?

631
00:32:50,979 --> 00:32:56,609
Suze: Right? And now here we are almost 100 points higher,

632
00:32:57,219 --> 00:32:58,729
Suze: and now they're afraid.

633
00:32:59,530 --> 00:33:02,589
Suze: So should they be selling? Should they, they're just freaks.

634
00:33:02,689 --> 00:33:05,410
Suze: Should they do free trades? Any advice to them?

635
00:33:06,030 --> 00:33:07,979
Keith: Well, I just wrote about this the other day to

636
00:33:07,979 --> 00:33:11,260
Keith: our clients, uh, you know, professional and otherwise, and said, OK,

637
00:33:11,339 --> 00:33:13,660
Keith: there's something you want a professional has a big gain

638
00:33:13,660 --> 00:33:17,060
Keith: on the table like that, uh, there's something called selling

639
00:33:17,060 --> 00:33:17,660
Keith: into strength.

640
00:33:18,390 --> 00:33:20,810
Keith: And you want to sell because you have the opportunity

641
00:33:20,810 --> 00:33:23,650
Keith: and you can, not because you must. And the reason

642
00:33:23,650 --> 00:33:27,359
Keith: most investors feel the fear that that people are voicing

643
00:33:27,609 --> 00:33:29,130
Keith: is because they're holding on too tight.

644
00:33:30,219 --> 00:33:33,099
Keith: They can't let the stock fly like they want it

645
00:33:33,099 --> 00:33:36,030
Keith: to because they're worried about it, they're scared about it.

646
00:33:36,060 --> 00:33:38,579
Keith: They're they've let their emotions cloud their judgment.

647
00:33:39,180 --> 00:33:42,489
Keith: So here's my answer, and it's twofold. Um, number one,

648
00:33:42,619 --> 00:33:44,000
Keith: if you want to take a little bit of money

649
00:33:44,000 --> 00:33:45,500
Keith: off the table and get to the point where you're

650
00:33:45,500 --> 00:33:47,699
Keith: sleeping at night and you're not worried about it, I

651
00:33:47,699 --> 00:33:50,410
Keith: would submit that's probably a pretty smart thing to do.

652
00:33:50,660 --> 00:33:52,459
Keith: On the other hand, if you don't need your money

653
00:33:52,459 --> 00:33:54,420
Keith: for 5 or 10 years and you can stomach the

654
00:33:54,420 --> 00:33:57,579
Keith: volatility and you make peace with the headlines, and you

655
00:33:57,579 --> 00:34:00,900
Keith: understand what I'm telling you about Wall Street wanting to

656
00:34:00,900 --> 00:34:01,849
Keith: take your money.

657
00:34:02,369 --> 00:34:04,510
Keith: Then you know what? You just hold your nose, let

658
00:34:04,510 --> 00:34:06,910
Keith: it ride, put a big smile on your face, Cheshire

659
00:34:06,910 --> 00:34:10,589
Keith: grin like I have, and you let it run because

660
00:34:10,590 --> 00:34:13,229
Keith: stocks like this are gonna run again. I've, I've done

661
00:34:13,229 --> 00:34:15,549
Keith: this a long time. I've learned every lesson I talk

662
00:34:15,550 --> 00:34:18,029
Keith: about the hard way, right? And, and if you hold

663
00:34:18,030 --> 00:34:20,469
Keith: on too tight, guess what? Sooner or later you're gonna

664
00:34:20,469 --> 00:34:21,989
Keith: fall off the rope. If you hold on too loose,

665
00:34:22,030 --> 00:34:24,149
Keith: maybe you can't grab the rope. So, so it's not

666
00:34:24,149 --> 00:34:27,310
Keith: a competition, it's what's right for you out there, everybody listening.

667
00:34:28,239 --> 00:34:30,719
Keith: Get comfortable with it. Get mentally comfortable with it. If

668
00:34:30,719 --> 00:34:33,159
Keith: you're not, then sell a little bit. Get to the

669
00:34:33,159 --> 00:34:35,889
Keith: point where you are and use tactics like DCA and

670
00:34:35,889 --> 00:34:39,399
Keith: VCA to start re accumulating positions because that's how you

671
00:34:39,399 --> 00:34:41,939
Keith: control risk and maximize profit potential.

672
00:34:42,239 --> 00:34:46,040
Suze: However, one of your OBAers, One Bar Ahead, which is

673
00:34:46,040 --> 00:34:48,800
Suze: a service that Keith has, that all of you are

674
00:34:48,800 --> 00:34:53,949
Suze: more than welcome if you want serious education, everything to join. However,

675
00:34:54,639 --> 00:34:57,560
Suze: wrote me and said, Suze, since he's going to be on.

676
00:34:58,340 --> 00:35:01,379
Suze: He wrote and said, if you have it, you might

677
00:35:01,379 --> 00:35:07,020
Suze: want to sell 25% and actually maybe even do a

678
00:35:07,020 --> 00:35:10,699
Suze: strategy in case it goes down. Is he expecting it

679
00:35:10,699 --> 00:35:11,699
Suze: to go down?

680
00:35:12,770 --> 00:35:15,360
Keith: No, that's not quite a correct assessment. It was 10%

681
00:35:15,360 --> 00:35:18,090
Keith: of the value, uh, but then on top of that, no,

682
00:35:18,169 --> 00:35:19,729
Keith: I'm not expecting it to go down at all. That

683
00:35:19,729 --> 00:35:21,610
Keith: had nothing to do with expecting it to go down

684
00:35:21,610 --> 00:35:24,050
Keith: that had everything to do with reducing risk, which is

685
00:35:24,050 --> 00:35:27,560
Keith: inherent in the DCA tactic, you know, it's like going

686
00:35:27,560 --> 00:35:30,090
Keith: to Vegas gambling theory and investing theory is very similar

687
00:35:30,090 --> 00:35:32,850
Keith: in this regard. The longer you leave your money on

688
00:35:32,850 --> 00:35:36,290
Keith: the table or in a stock you own, the higher

689
00:35:36,290 --> 00:35:37,759
Keith: the risk there is.

690
00:35:38,179 --> 00:35:40,709
Keith: So what you wanna do is again, uh this is

691
00:35:40,709 --> 00:35:44,120
Keith: a professional grade tactic as you start to accumulate position,

692
00:35:44,270 --> 00:35:46,830
Keith: everybody's going yeehaw wha you know they're going off to

693
00:35:46,830 --> 00:35:47,510
Keith: the rodeo.

694
00:35:48,330 --> 00:35:50,419
Keith: But they also forget they could get bucked off. And

695
00:35:50,419 --> 00:35:51,699
Keith: so what you want to do is you want to

696
00:35:51,699 --> 00:35:53,260
Keith: just like step back for a little bit, take a

697
00:35:53,260 --> 00:35:55,580
Keith: little money off the table, harness it, you know, I

698
00:35:55,580 --> 00:35:58,909
Keith: mean that's we sell 10%, knock it back down a

699
00:35:58,909 --> 00:36:02,770
Keith: little bit quantitatively and continue to accumulate the shares because

700
00:36:02,770 --> 00:36:04,419
Keith: you never look a gift horse in the mouth. When

701
00:36:04,419 --> 00:36:07,820
Keith: a stock really runs really quickly, this casino doesn't owe

702
00:36:07,820 --> 00:36:09,899
Keith: you a 7% more than Palantir does.

703
00:36:10,060 --> 00:36:10,299
Suze: One

704
00:36:10,300 --> 00:36:12,580
Suze: more question before we go on to

705
00:36:12,840 --> 00:36:15,549
Suze: the program or whatever it is that we're going to

706
00:36:15,550 --> 00:36:20,550
Suze: create here for everybody, which is I'm waiting for you

707
00:36:20,550 --> 00:36:25,110
Suze: to talk about topics relating to the risk of our

708
00:36:25,110 --> 00:36:30,669
Suze: bank accounts, savings, and assets. How do we protect them now?

709
00:36:30,909 --> 00:36:32,870
Suze: Everybody is scared to death.

710
00:36:33,469 --> 00:36:37,189
Suze: With everything that's going on that they don't understand, they're

711
00:36:37,189 --> 00:36:40,750
Suze: all afraid that their money's going to become worthless. Banks

712
00:36:40,750 --> 00:36:44,270
Suze: are going to close. FDIC isn't going to be able

713
00:36:44,270 --> 00:36:47,509
Suze: to pay for anything. The treasuries are going. I have

714
00:36:47,510 --> 00:36:50,070
Suze: people writing me and said I cashed out of all

715
00:36:50,070 --> 00:36:55,360
Suze: my treasuries because the treasury, so everybody is scared to death.

716
00:36:55,510 --> 00:36:57,419
Suze: What would you tell them? OK,

717
00:36:57,909 --> 00:36:58,429
Keith: number one.

718
00:36:59,270 --> 00:37:01,639
Keith: You gotta take a deep breath. I mean you just

719
00:37:01,639 --> 00:37:04,649
Keith: owe it to yourself to take a deep breath and

720
00:37:04,649 --> 00:37:06,810
Keith: this is something we talk about all the time with

721
00:37:06,810 --> 00:37:09,570
Keith: our clients around the world there is stuff you can

722
00:37:09,570 --> 00:37:12,850
Keith: control and there is stuff you can't control. You can't

723
00:37:12,850 --> 00:37:15,330
Keith: control what's gonna happen with the Treasury Department any more

724
00:37:15,330 --> 00:37:18,370
Keith: than you can control the price of a green door

725
00:37:18,370 --> 00:37:21,888
Keith: in mainland China. You just can't, but what you can

726
00:37:21,889 --> 00:37:26,290
Keith: control is buying great companies, investing in amazing technology, stuff

727
00:37:26,290 --> 00:37:27,529
Keith: that is going to build your future.

728
00:37:27,969 --> 00:37:30,639
Keith: So, you know, again, to my comment earlier, you can

729
00:37:30,639 --> 00:37:33,359
Keith: invest as if the sun's gonna come up tomorrow, which

730
00:37:33,360 --> 00:37:37,750
Keith: is statistically the more viable thing to do and history

731
00:37:37,750 --> 00:37:40,199
Keith: proves it beyond any shadow of a doubt, or you

732
00:37:40,199 --> 00:37:41,310
Keith: can cower in fear.

733
00:37:41,639 --> 00:37:44,350
Keith: And if you cower in fear, you have got to

734
00:37:44,350 --> 00:37:46,860
Keith: come to terms with that you're gonna get left behind.

735
00:37:47,030 --> 00:37:49,469
Keith: That's just as simple as that. And again, it doesn't

736
00:37:49,469 --> 00:37:52,750
Keith: feel good, it's scary, it's uncertain, but here's the other

737
00:37:52,750 --> 00:37:54,629
Keith: thing about that, right? I mean, I run into this

738
00:37:54,629 --> 00:37:56,459
Keith: a lot, a matter of fact, I'm speaking in Vegas

739
00:37:56,459 --> 00:37:58,629
Keith: next week. I know this question is going to come up,

740
00:37:58,709 --> 00:38:02,070
Keith: but what about the Treasury? But what about the Fed? Well,

741
00:38:02,110 --> 00:38:06,310
Keith: the numbers show that those things don't matter on anything

742
00:38:06,310 --> 00:38:10,029
Keith: other than a short term basis. So again,

743
00:38:11,040 --> 00:38:15,669
Keith: take a deep breath. Trust the numbers, look at your history.

744
00:38:15,889 --> 00:38:19,100
Keith: The most dangerous words in the English language are, yeah,

745
00:38:19,280 --> 00:38:22,989
Keith: but it'll be different this time. Odds are it will not.

746
00:38:23,179 --> 00:38:26,120
Keith: In fact, odds are we're gonna find a way through this.

747
00:38:26,199 --> 00:38:28,510
Keith: It may not be perfect, it may be kick the can,

748
00:38:28,719 --> 00:38:32,050
Keith: but that's all the domain of clickbait artists, late night

749
00:38:32,050 --> 00:38:35,350
Keith: email scammers, and foo-os, all of whom want to sell

750
00:38:35,350 --> 00:38:37,719
Keith: you something or want your attention for whatever reason.

751
00:38:38,419 --> 00:38:41,419
Keith: If you stay focused on the great companies, on the

752
00:38:41,419 --> 00:38:45,620
Keith: great CEOs, on the big broad sweeping themes that are

753
00:38:45,620 --> 00:38:50,300
Keith: improving humanity, improving our financial situation, and you're thinking like

754
00:38:50,300 --> 00:38:54,379
Keith: a winner, suddenly you can invest in optimism, and that's

755
00:38:54,379 --> 00:38:56,820
Keith: a whole different picture. You can look forward to the

756
00:38:56,820 --> 00:39:01,580
Keith: sun coming up every single morning instead of worrying about

757
00:39:01,580 --> 00:39:02,659
Keith: what happens when it sets.

758
00:39:03,139 --> 00:39:07,909
Suze: That's my man. Now, the biggest question of all.

759
00:39:08,060 --> 00:39:08,969
Keith: I didn't do it.

760
00:39:09,659 --> 00:39:13,350
Suze: No, but I kind of did. Uh oh, right, and

761
00:39:13,350 --> 00:39:20,139
Suze: it's this. When is the program coming out which does

762
00:39:20,139 --> 00:39:24,020
Suze: this thing, and I've told everybody they had to be

763
00:39:24,020 --> 00:39:28,899
Suze: patient number one because this was a project.

764
00:39:29,770 --> 00:39:33,759
Suze: That was actually turned out to be far more complicated

765
00:39:34,409 --> 00:39:40,239
Suze: than ever before because it wasn't just about Keith everybody

766
00:39:40,530 --> 00:39:43,449
Suze: being able to do value cost averaging and everything on

767
00:39:43,449 --> 00:39:48,040
Suze: a set number of stocks that he has followed without

768
00:39:48,050 --> 00:39:49,840
Suze: having to determine money.

769
00:39:50,679 --> 00:39:53,530
Suze: Into the equation it was just buy this, buy, sell that,

770
00:39:53,540 --> 00:39:56,299
Suze: whatever it may be. This is where, and I told

771
00:39:56,300 --> 00:39:58,620
Suze: you a little bit about how we wanted the program

772
00:39:58,620 --> 00:40:01,580
Suze: to work. You would decide the amount of money you

773
00:40:01,580 --> 00:40:04,139
Suze: want to invest and every month you would get an

774
00:40:04,139 --> 00:40:07,529
Suze: email saying buy this many shares and it would all

775
00:40:07,530 --> 00:40:10,300
Suze: be personalized for you.

776
00:40:11,080 --> 00:40:15,929
Suze: That turned out to be a whole lot more difficult

777
00:40:15,929 --> 00:40:20,000
Suze: because of the number of people that most likely will

778
00:40:20,000 --> 00:40:24,639
Suze: sign up for this, which could be 100 or 200,000

779
00:40:24,639 --> 00:40:30,320
Suze: people because of both of our audiences. So therefore I

780
00:40:30,320 --> 00:40:33,959
Suze: then said, wait, wait, maybe we don't do that.

781
00:40:34,639 --> 00:40:38,469
Suze: Maybe we create an exchange traded fund or really it's Keith.

782
00:40:38,679 --> 00:40:43,360
Suze: You create an exchange traded fund. People just buy shares

783
00:40:43,360 --> 00:40:47,550
Suze: in it and you get to do anything you want

784
00:40:47,550 --> 00:40:51,239
Suze: with the stock within there. So I kind of screwed

785
00:40:51,239 --> 00:40:54,090
Suze: it up as well and then Keith started to go, oh,

786
00:40:54,239 --> 00:40:56,679
Suze: maybe we should go down that road. Maybe we should

787
00:40:56,679 --> 00:40:59,279
Suze: call it this. I mean the two of us can

788
00:40:59,280 --> 00:41:00,520
Suze: drive each other crazy.

789
00:41:01,229 --> 00:41:04,350
Suze: But the two of us love each other so much,

790
00:41:04,449 --> 00:41:09,169
Suze: but that's what happens when you put together two brainiacs

791
00:41:09,449 --> 00:41:14,770
Suze: that really care about their customer. They care about every

792
00:41:14,770 --> 00:41:18,000
Suze: single one of you and so what's the best way

793
00:41:18,209 --> 00:41:21,169
Suze: combining both of our cares for you.

794
00:41:22,080 --> 00:41:26,969
Suze: And doing it for sophisticated investors as well as investors

795
00:41:26,969 --> 00:41:30,189
Suze: that ask some of the questions that you're asking me,

796
00:41:30,570 --> 00:41:34,729
Suze: which are like, oh, you're just starting out, you're afraid

797
00:41:34,729 --> 00:41:37,750
Suze: you're a woman who just lost her spouse and you're

798
00:41:37,750 --> 00:41:41,379
Suze: 70 years of age, and you want to just do it.

799
00:41:41,729 --> 00:41:45,040
Suze: So tell him what you're thinking now, Keith.

800
00:41:47,570 --> 00:41:50,379
Keith: Absolutely. So yeah, I mean, Suze's absolutely right. When we

801
00:41:50,379 --> 00:41:53,500
Keith: started this project, the, the markets were in sort of

802
00:41:53,500 --> 00:41:55,860
Keith: one state of mind, and we started looking at the

803
00:41:55,860 --> 00:41:57,929
Keith: complexities involved, you know, all of a sudden it went

804
00:41:57,929 --> 00:42:01,179
Keith: from a few million calculations a day to literally billions

805
00:42:01,179 --> 00:42:04,939
Keith: of calculations a day. The permutations involved with hundreds of

806
00:42:04,939 --> 00:42:08,100
Keith: thousands of people tracking, you know, 30-40 stocks or whatever

807
00:42:08,100 --> 00:42:09,899
Keith: it is, you know, the number was gonna be and

808
00:42:09,899 --> 00:42:12,340
Keith: then doing all the math in VCA necessary to do

809
00:42:12,340 --> 00:42:13,699
Keith: that was was one problem.

810
00:42:14,070 --> 00:42:17,159
Keith: The other problem was that the markets themselves changed and

811
00:42:17,159 --> 00:42:18,739
Keith: you know, even within the last two years, you know,

812
00:42:18,750 --> 00:42:22,479
Keith: you've seen stocks like Nvidia and Tesla and Costco, Walmart

813
00:42:22,479 --> 00:42:23,679
Keith: and some of the names you hear me talk about

814
00:42:23,679 --> 00:42:27,080
Keith: on television a lot, these stocks have gone absolutely bananas.

815
00:42:27,379 --> 00:42:30,549
Keith: And so that made, you know, the nature of picking

816
00:42:30,550 --> 00:42:33,270
Keith: stocks very, very complicated because we, you know, we don't

817
00:42:33,270 --> 00:42:35,070
Keith: just throw darts on the wall and say, hey, I

818
00:42:35,070 --> 00:42:36,709
Keith: think you should buy this. I mean there's a lot

819
00:42:36,709 --> 00:42:39,388
Keith: of quantitative stuff that goes on under the hood before

820
00:42:39,389 --> 00:42:41,310
Keith: you hear me talk about a stock, whether it's, you know,

821
00:42:41,429 --> 00:42:44,179
Keith: here on television or in one bar ahead. I have

822
00:42:44,179 --> 00:42:46,389
Keith: to know with absolute certainty that I've got the confidence

823
00:42:46,389 --> 00:42:48,979
Keith: in that stock to recommend it because I buy those

824
00:42:48,979 --> 00:42:50,629
Keith: stocks too. I mean, I, you know, if I'm talking

825
00:42:50,629 --> 00:42:52,590
Keith: about it, I like to eat my own cooking. A

826
00:42:52,590 --> 00:42:54,510
Keith: lot of people don't, but I do, and you see

827
00:42:54,510 --> 00:42:55,310
Keith: those disclosures.

828
00:42:55,409 --> 00:42:58,080
Keith: Every single time I'm on television, I own it. My

829
00:42:58,080 --> 00:43:01,080
Keith: family owns it. My company recommends it. no investment banking,

830
00:43:01,120 --> 00:43:03,629
Keith: you know, I am very transparent about this. So...

831
00:43:03,629 --> 00:43:05,009
Suze: And therefore Suze owns them too.

832
00:43:05,280 --> 00:43:07,719
Keith: Exactly. Well, this is the thing. I mean this is

833
00:43:07,719 --> 00:43:10,509
Keith: why we're pals, right? But the thing about that, right, is,

834
00:43:10,560 --> 00:43:13,919
Keith: is now you have when we started you had maybe 30-40%

835
00:43:13,919 --> 00:43:16,600
Keith: of the market that was computerized, but the rise of

836
00:43:16,600 --> 00:43:20,509
Keith: passive investing, the blend of options, Wall Street's go fast crowd,

837
00:43:20,750 --> 00:43:22,600
Keith: now you have 80% to 85% of the market on

838
00:43:22,600 --> 00:43:23,319
Keith: any given day,

839
00:43:24,000 --> 00:43:28,189
Keith: that is moving by computer with no humans involved, no

840
00:43:28,189 --> 00:43:30,469
Keith: regard for the fundamentals, no regard for the selection process.

841
00:43:30,550 --> 00:43:32,620
Keith: So it makes that problem a little complicated. And then

842
00:43:32,620 --> 00:43:34,350
Keith: that third thing, that little, you know, that little thing

843
00:43:34,350 --> 00:43:36,509
Keith: called the cloud, uh, you know, people have heard of that,

844
00:43:36,590 --> 00:43:38,899
Keith: but the architecture of the cloud keeps changing. So every

845
00:43:38,899 --> 00:43:40,629
Keith: time we'd engineer something, you'd get right up to the

846
00:43:40,629 --> 00:43:43,080
Keith: starting line, you know, Amazon, which we intend to use,

847
00:43:43,110 --> 00:43:44,669
Keith: would change the way the cloud works and so we

848
00:43:44,669 --> 00:43:47,830
Keith: had to reprogram everything. So, so long story short.

849
00:43:49,110 --> 00:43:51,919
Keith: We're very close. We're rejiggering, but it's gonna be ready

850
00:43:51,919 --> 00:43:56,129
Keith: when it's ready. We are also pursuing an ETF because

851
00:43:56,129 --> 00:43:59,250
Keith: that's something that any investor can use. It can be point,

852
00:43:59,290 --> 00:44:01,770
Keith: click buy. You don't have to worry about a dang

853
00:44:01,770 --> 00:44:05,570
Keith: thing except maybe VCAing into the ETF itself, so it

854
00:44:05,570 --> 00:44:09,050
Keith: becomes dramatically simplified. We take care of all that other

855
00:44:09,050 --> 00:44:10,729
Keith: stuff behind the scenes and you don't have to lift

856
00:44:10,729 --> 00:44:11,020
Keith: the figure.

857
00:44:11,290 --> 00:44:13,489
Suze: And personally, that's my vote.

858
00:44:13,850 --> 00:44:14,080
Keith: Well,

859
00:44:14,199 --> 00:44:14,639
Keith: me too,

860
00:44:15,080 --> 00:44:18,159
Suze: but here's what's interesting and tell them the truth. Over

861
00:44:18,159 --> 00:44:22,889
Suze: a year ago, yeah, maybe a year and a half ago,

862
00:44:23,080 --> 00:44:25,219
Suze: I said, can't we just do an ETF?

863
00:44:25,879 --> 00:44:28,279
Keith: Oh, you did. Yes, you did, and I got Suze schooled

864
00:44:28,280 --> 00:44:29,590
Keith: on that. Yes, I did.

865
00:44:30,639 --> 00:44:33,290
Suze: And no, it's like, no, if we do an ETF,

866
00:44:33,379 --> 00:44:35,629
Suze: they're gonna, everybody's gonna find out about the secret sauce

867
00:44:36,610 --> 00:44:39,359
Suze: and I don't want everybody to know what we're doing

868
00:44:39,360 --> 00:44:42,638
Suze: because all because what happens with Keith's work a lot,

869
00:44:43,040 --> 00:44:46,678
Suze: everybody is everybody rips it off because they know that

870
00:44:46,679 --> 00:44:50,100
Suze: it's so good all these years of his experience and

871
00:44:50,100 --> 00:44:53,879
Suze: the money he's invested in the computer systems, all of

872
00:44:53,879 --> 00:44:57,360
Suze: a sudden you see it somewhere and they're taking credit

873
00:44:57,360 --> 00:44:58,000
Suze: for it.

874
00:44:58,419 --> 00:45:01,209
Suze: And then all of a sudden it makes it that

875
00:45:01,209 --> 00:45:05,250
Suze: it's not, it's just not good. With an ETF it

876
00:45:05,250 --> 00:45:09,569
Suze: was possible that they could go in and re-engineer what

877
00:45:09,570 --> 00:45:13,029
Suze: Keith had done and bring it out in another ETF

878
00:45:13,320 --> 00:45:14,969
Suze: and that's why Keith

879
00:45:15,064 --> 00:45:18,725
Suze: didn't want to do it. Now he thinks that he

880
00:45:18,725 --> 00:45:20,685
Suze: can protect it. Is that correct?

881
00:45:20,895 --> 00:45:21,014
Keith: That

882
00:45:21,014 --> 00:45:23,935
Keith: is absolutely correct. And not only that, but the, the

883
00:45:23,935 --> 00:45:27,334
Keith: group that we're working with has just within the last

884
00:45:27,334 --> 00:45:30,014
Keith: week signed all the documents promising to protect it. So

885
00:45:30,014 --> 00:45:31,685
Keith: it's a very different playing field now.

886
00:45:32,330 --> 00:45:36,319
Suze: So if it's true, everybody, and he can do that,

887
00:45:36,610 --> 00:45:40,810
Suze: trust me, you are far better off rather than getting

888
00:45:40,810 --> 00:45:43,888
Suze: an email every month, you figuring out what you should

889
00:45:43,889 --> 00:45:46,610
Suze: do and you doing it every month, even though that's

890
00:45:46,610 --> 00:45:50,049
Suze: how you would learn about investing. It would be far

891
00:45:50,050 --> 00:45:52,449
Suze: better off for you in the long run.

892
00:45:52,929 --> 00:45:57,409
Suze: To simply be able to VCA into the ETF and

893
00:45:57,409 --> 00:46:01,408
Suze: there you go on with your life. So I hope

894
00:46:01,409 --> 00:46:05,639
Suze: you understand that we haven't meant to, you know, go, no,

895
00:46:05,729 --> 00:46:08,409
Suze: don't invest. That's why I did a podcast quite a

896
00:46:08,409 --> 00:46:11,888
Suze: few months ago saying don't wait, you are to continue

897
00:46:11,889 --> 00:46:15,370
Suze: to invest right now, continue to do these things we've

898
00:46:15,370 --> 00:46:18,689
Suze: talked about, but that's the direction.

899
00:46:19,020 --> 00:46:21,879
Suze: That Keith is going and I always wanted him to

900
00:46:21,879 --> 00:46:24,870
Suze: go because I know from the bottom of my heart

901
00:46:25,179 --> 00:46:28,759
Suze: it will be the easiest and most profitable thing for

902
00:46:28,760 --> 00:46:31,750
Suze: you to do because you don't have to worry about it.

903
00:46:31,959 --> 00:46:35,360
Suze: You're on vacation. You don't get the email. You don't

904
00:46:35,360 --> 00:46:39,080
Suze: do it. And given the emails that I've gotten about

905
00:46:39,080 --> 00:46:41,639
Suze: value cost averaging and how do you do it if

906
00:46:41,639 --> 00:46:44,120
Suze: you have a whole lot of stocks and I only

907
00:46:44,120 --> 00:46:46,149
Suze: want 4% of my port, no.

908
00:46:46,870 --> 00:46:49,429
Suze: Just, you can do what you want with your stocks,

909
00:46:49,510 --> 00:46:52,179
Suze: but there should be a sum of your money that

910
00:46:52,389 --> 00:46:56,510
Suze: could be under the ETF doing it for you. What

911
00:46:56,510 --> 00:46:57,500
Suze: do you think, Keith?

912
00:46:57,830 --> 00:47:01,750
Keith: Well, yes, and there's one other big benefit to that too, Suze, and, and,

913
00:47:01,860 --> 00:47:06,709
Keith: and it's this, is if you have an ETF suddenly

914
00:47:06,709 --> 00:47:09,360
Keith: your financial professionals, if you have one or your planners

915
00:47:09,360 --> 00:47:11,469
Keith: that you work with can work on integrating it into

916
00:47:11,469 --> 00:47:12,500
Keith: your financial plan.

917
00:47:12,850 --> 00:47:16,959
Keith: So, so it, it adds to the flexibility in terms

918
00:47:16,959 --> 00:47:19,199
Keith: of how you can use it and it also makes

919
00:47:19,199 --> 00:47:21,879
Keith: it suitable for somebody who's just starting out and has

920
00:47:21,879 --> 00:47:24,080
Keith: just a little bit of money to invest, but it

921
00:47:24,080 --> 00:47:27,198
Keith: also opens it up to very, very sophisticated, very, very

922
00:47:27,199 --> 00:47:29,638
Keith: large investors again, all at the touch of a button, so.

923
00:47:30,260 --> 00:47:34,139
Keith: As frustrated as I am personally about uh the complexity

924
00:47:34,139 --> 00:47:36,739
Keith: of where we started and where we are now, I

925
00:47:36,739 --> 00:47:39,250
Keith: think that this is gonna be a very viable, very

926
00:47:39,250 --> 00:47:41,780
Keith: good solution, and we're hoping to get it across the

927
00:47:41,780 --> 00:47:43,209
Keith: finish line very, very quickly.

928
00:47:43,659 --> 00:47:47,969
Suze: So I hope all of you enjoyed this podcast with

929
00:47:47,969 --> 00:47:52,409
Suze: the maestro. Before we go, anything else you wanna say?

930
00:47:53,149 --> 00:47:55,909
Keith: Just thank you to everybody thank you to you, Suze,

931
00:47:55,949 --> 00:47:58,669
Keith: for having me on. What an honor. I mean, just, I,

932
00:47:58,750 --> 00:48:00,509
Keith: as I say, I've been looking forward to this all

933
00:48:00,510 --> 00:48:03,070
Keith: week and it has met and exceeded every single one

934
00:48:03,070 --> 00:48:05,469
Keith: of my expectations. What a privilege to be on with

935
00:48:05,469 --> 00:48:08,070
Keith: you today and to have everybody out there putting your

936
00:48:08,070 --> 00:48:09,819
Keith: faith and your trust in what I have to say.

937
00:48:09,870 --> 00:48:10,669
Keith: Thank you for your time.

938
00:48:10,989 --> 00:48:12,949
Suze: Thank you, Keith. I love you so much. I can't

939
00:48:12,949 --> 00:48:16,030
Suze: even stand it. I hope you had a good Valentine's

940
00:48:16,030 --> 00:48:16,780
Suze: Day too.

941
00:48:17,330 --> 00:48:19,879
Keith: We did and right back at you. Love you, Suze.

942
00:48:20,639 --> 00:48:24,189
Suze: All right, everybody, so there's only one thing that we both

943
00:48:24,189 --> 00:48:27,370
Suze: want you to remember when it comes to your money,

944
00:48:27,600 --> 00:48:32,320
Suze: and it's people first, then money, then things. I hope

945
00:48:32,320 --> 00:48:36,280
Suze: you enjoy today. I hope you all stay safe and

946
00:48:36,280 --> 00:48:41,840
Suze: know that together we will rise. We are strong.