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Hiring Indeed is 16 00:00:57,440 --> 00:00:58,040 Speaker 1: all you need. 17 00:00:58,640 --> 00:00:59,319 Speaker 2: What's going on? 18 00:00:59,360 --> 00:01:03,480 Speaker 3: Earnest Welcome EYL University, the number one place for business education. 19 00:01:03,560 --> 00:01:04,600 Speaker 2: Shoddy talm what we're. 20 00:01:04,440 --> 00:01:07,680 Speaker 4: Bringing Yes, EYL University already has over one hundred past 21 00:01:07,720 --> 00:01:11,600 Speaker 4: webinars from all areas of business. It includes weekly webinars 22 00:01:11,760 --> 00:01:16,600 Speaker 4: from industry leaders It includes access to our investment Facebook group. 23 00:01:16,600 --> 00:01:18,160 Speaker 5: Movie club, our book club. 24 00:01:18,480 --> 00:01:21,800 Speaker 4: It also includes access to monthly financial planning calls with 25 00:01:21,920 --> 00:01:25,440 Speaker 4: yours truly. But what has been added has access to 26 00:01:25,640 --> 00:01:28,840 Speaker 4: MG the Mortgage Guys home Buyers Blueprint over fourteen hours 27 00:01:28,920 --> 00:01:30,760 Speaker 4: everything you need to know as far as the home 28 00:01:30,800 --> 00:01:34,240 Speaker 4: buying process is concerned. And also what has been added 29 00:01:34,360 --> 00:01:37,920 Speaker 4: is access to our monthly group chat call. So once 30 00:01:37,959 --> 00:01:40,200 Speaker 4: a month, Me, Troy and the whole team is going 31 00:01:40,280 --> 00:01:42,480 Speaker 4: to let you in on our personal plays, our portfolio, 32 00:01:42,640 --> 00:01:46,200 Speaker 4: what we're doing, and more so all of that, we 33 00:01:46,240 --> 00:01:50,120 Speaker 4: are running for a special promo code of seventy percent 34 00:01:50,200 --> 00:01:53,920 Speaker 4: off for limited time only. So hed the Eyluniversity dot 35 00:01:53,960 --> 00:01:56,080 Speaker 4: com right now and take advantage. 36 00:01:55,760 --> 00:01:57,240 Speaker 2: Not as works, don't wait, don't hesitate it. 37 00:01:57,240 --> 00:01:58,840 Speaker 6: We'll see you on the other side. 38 00:02:00,160 --> 00:02:05,000 Speaker 7: My graduates from my school being forced back drop bag 39 00:02:05,120 --> 00:02:08,760 Speaker 7: drop mic drop back drop drop. 40 00:02:18,760 --> 00:02:20,960 Speaker 5: Stock market investing right, talk about it. 41 00:02:21,800 --> 00:02:27,040 Speaker 4: What is your theory but from buying and holding and 42 00:02:27,280 --> 00:02:29,760 Speaker 4: day trading, because that's kind of like the two trains 43 00:02:29,800 --> 00:02:31,960 Speaker 4: of thought and investing. It was like day trading. Anybody's 44 00:02:31,960 --> 00:02:33,600 Speaker 4: not familiar day trading. That's when you're actually buying a 45 00:02:33,639 --> 00:02:36,720 Speaker 4: stock and you're trading it in today sometimes like within 46 00:02:36,760 --> 00:02:40,120 Speaker 4: a couple of minutes, and you're getting your profits. Whereas 47 00:02:40,160 --> 00:02:43,320 Speaker 4: buying hold, there's more of you're buying and you're holding 48 00:02:43,360 --> 00:02:45,720 Speaker 4: long term. That long term could be six months, a year, 49 00:02:45,760 --> 00:02:48,320 Speaker 4: and ten years, twenty five years, but you're not looking 50 00:02:48,400 --> 00:02:54,079 Speaker 4: to make quick decisions. So what's your theory between buying 51 00:02:54,480 --> 00:02:56,079 Speaker 4: long term and day trading? 52 00:02:56,560 --> 00:03:01,320 Speaker 8: Alright, So with buying long term, that's where the wealth 53 00:03:01,400 --> 00:03:06,680 Speaker 8: is at because when you buy a long term you're 54 00:03:06,760 --> 00:03:11,280 Speaker 8: not affected by the short term activities that go on 55 00:03:11,320 --> 00:03:15,640 Speaker 8: in the market, and you can't control that. So because 56 00:03:15,720 --> 00:03:21,200 Speaker 8: I can't control that, I want to say I'm willing 57 00:03:21,240 --> 00:03:22,280 Speaker 8: to wait that out. 58 00:03:23,560 --> 00:03:32,000 Speaker 2: Right, whereas with day trading, it's a high. It's like yo, 59 00:03:32,600 --> 00:03:33,440 Speaker 2: it just went up. 60 00:03:34,720 --> 00:03:37,960 Speaker 8: Im about to get this bread and I'm gonna get out. 61 00:03:38,960 --> 00:03:41,840 Speaker 8: But what people don't tell you about day trade and 62 00:03:41,880 --> 00:03:44,280 Speaker 8: I have nothing against it because the money in it, 63 00:03:44,320 --> 00:03:47,520 Speaker 8: but those capital gains taxes that come with it going 64 00:03:47,560 --> 00:03:52,440 Speaker 8: to eat away at your profit. Right with stock market, 65 00:03:52,480 --> 00:03:56,080 Speaker 8: With the way that I invest, my goal is to 66 00:03:56,120 --> 00:03:57,880 Speaker 8: just hold it at least for a year and a day. 67 00:03:58,160 --> 00:04:01,320 Speaker 4: So all right, let's talk about that capital gains for 68 00:04:01,440 --> 00:04:03,840 Speaker 4: most people, it's like fifteen percent for every person. 69 00:04:04,080 --> 00:04:07,560 Speaker 2: Nah, twenty twenty nine, twenty eight. 70 00:04:07,640 --> 00:04:10,119 Speaker 8: Short term capital gains, Oh yeah, you go, You're gonna 71 00:04:10,120 --> 00:04:11,120 Speaker 8: go with eighteen. 72 00:04:11,040 --> 00:04:13,760 Speaker 4: Yeah, because long term capital game is fifteen percent. So yeah, 73 00:04:13,800 --> 00:04:17,040 Speaker 4: so short term capital gains, yeah, it's higher. So capital 74 00:04:17,040 --> 00:04:19,240 Speaker 4: gains is when you sell a stock, you gotta pay 75 00:04:19,279 --> 00:04:22,920 Speaker 4: taxes on that. And as you said, the profit and 76 00:04:22,960 --> 00:04:26,320 Speaker 4: the short term capital gains is more than long term 77 00:04:26,320 --> 00:04:28,279 Speaker 4: capital gains, which is an incentive to hold it. And 78 00:04:28,320 --> 00:04:30,560 Speaker 4: the long term capital gain started a year, right, right, 79 00:04:30,600 --> 00:04:30,960 Speaker 4: So if. 80 00:04:30,880 --> 00:04:33,039 Speaker 6: I got I bought a stock one hundred dollars, I 81 00:04:33,040 --> 00:04:34,560 Speaker 6: made one hundred and fifty. I'm paying a tax on 82 00:04:34,560 --> 00:04:34,839 Speaker 6: the fifth. 83 00:04:34,839 --> 00:04:36,080 Speaker 2: You're gonna pay a tax on a fifty. 84 00:04:36,680 --> 00:04:38,640 Speaker 8: Now, if you hold it for a year and a day, 85 00:04:39,160 --> 00:04:42,640 Speaker 8: you're only gonna pay about twelve percent. If you hold 86 00:04:42,680 --> 00:04:46,080 Speaker 8: it for six months, you'll pay about twenty two. So 87 00:04:46,120 --> 00:04:49,559 Speaker 8: the goal is just and so the goal in building wealth, 88 00:04:49,640 --> 00:04:52,720 Speaker 8: and it's simply this. It's not about how much money 89 00:04:52,760 --> 00:04:54,520 Speaker 8: you make, it's about how much you keep. 90 00:04:54,880 --> 00:04:55,560 Speaker 5: That's the fact. 91 00:04:56,360 --> 00:04:58,760 Speaker 8: So for me, I want to keep as much as 92 00:04:58,839 --> 00:05:02,080 Speaker 8: I can. And so if I got a hold it 93 00:05:02,160 --> 00:05:04,080 Speaker 8: for a year and a day. I'm cool with that. 94 00:05:04,839 --> 00:05:07,360 Speaker 8: I'm cool with it because I've gained equity in it. 95 00:05:07,480 --> 00:05:09,159 Speaker 8: And if they're paying divid dandces, I don't got some. 96 00:05:09,360 --> 00:05:12,840 Speaker 8: I don't got full quarters with the dividends. I mean 97 00:05:12,920 --> 00:05:16,760 Speaker 8: my bread, I'm good. And that's the part of like 98 00:05:16,839 --> 00:05:18,040 Speaker 8: trading that people don't talk about. 99 00:05:18,720 --> 00:05:18,880 Speaker 2: Right. 100 00:05:18,960 --> 00:05:20,120 Speaker 5: It's like you said, it's not sexy. 101 00:05:20,200 --> 00:05:23,440 Speaker 4: It ain't sexy, and they want they want short term 102 00:05:23,480 --> 00:05:28,520 Speaker 4: gratification without you know, being in it for the long haul, right. 103 00:05:28,640 --> 00:05:32,520 Speaker 4: And the thing about it is that nothing happens overnight, nothing, 104 00:05:32,960 --> 00:05:35,719 Speaker 4: and you don't. You don't build wealth overnight as well. 105 00:05:35,760 --> 00:05:38,840 Speaker 4: And it's important. I always tell my climb my financial advice. 106 00:05:38,880 --> 00:05:40,479 Speaker 4: I tell my clients whole time, you have to you 107 00:05:40,520 --> 00:05:42,520 Speaker 4: have to diversify, Like you can't put all your eggs 108 00:05:42,520 --> 00:05:45,320 Speaker 4: in any one basket. Right, You got diversified, so you 109 00:05:45,440 --> 00:05:49,280 Speaker 4: might have real estate, but it doesn't. It's not healthy 110 00:05:49,360 --> 00:05:51,920 Speaker 4: to just put every dollar that you have into me now, right. 111 00:05:51,960 --> 00:05:54,560 Speaker 4: It does. It's common sense for a lot of different reasons. 112 00:05:55,080 --> 00:05:59,160 Speaker 4: But stocks is a key wealth building tool. It should 113 00:05:59,240 --> 00:06:01,640 Speaker 4: definitely be part of somebody. Most people are invested in 114 00:06:01,720 --> 00:06:03,440 Speaker 4: stock market without them even knowing it because of the 115 00:06:03,520 --> 00:06:06,880 Speaker 4: four one K plan. So dividends, right, because this is 116 00:06:06,920 --> 00:06:09,320 Speaker 4: something that we haven't covered, and a lot of people 117 00:06:09,360 --> 00:06:11,560 Speaker 4: have heard of dividends, but they don't fully understand what 118 00:06:11,640 --> 00:06:12,279 Speaker 4: a dividend is. 119 00:06:12,320 --> 00:06:13,480 Speaker 5: So what is a dividend? 120 00:06:13,640 --> 00:06:15,360 Speaker 6: You said, that's one of the strategies you use. Yeah, 121 00:06:15,440 --> 00:06:16,360 Speaker 6: I love them stocks with it. 122 00:06:16,400 --> 00:06:20,040 Speaker 8: Yeah, So what happens is dividends are a portion of 123 00:06:20,080 --> 00:06:23,920 Speaker 8: the profit that companies pay to people who are invested 124 00:06:23,960 --> 00:06:27,359 Speaker 8: in a business, not the revenue, but the profit. So 125 00:06:27,400 --> 00:06:30,240 Speaker 8: if I have a business that brings in ten thousand 126 00:06:30,279 --> 00:06:35,400 Speaker 8: dollars a month and I profit five thousand dollars a month, 127 00:06:36,000 --> 00:06:39,039 Speaker 8: then out of that five thousand dollars, I'll take a 128 00:06:39,080 --> 00:06:42,440 Speaker 8: percentage of that, which is called the dividend yield, and 129 00:06:42,480 --> 00:06:46,560 Speaker 8: I'll pay it to my investors as a part of 130 00:06:46,640 --> 00:06:49,320 Speaker 8: saying hey, thank you for investing in my business. 131 00:06:49,360 --> 00:06:52,080 Speaker 6: Is it paid equally or it obviously, depending on how 132 00:06:52,120 --> 00:06:52,960 Speaker 6: many shares you have, you. 133 00:06:52,920 --> 00:06:56,160 Speaker 2: Get more not. Yeah, well the dividend is the same. 134 00:06:56,279 --> 00:06:58,599 Speaker 8: So if I pay fifty cent a ship, everybody, which 135 00:06:58,640 --> 00:07:03,560 Speaker 8: is two dollars a year, everybody gets that depending on 136 00:07:03,640 --> 00:07:06,000 Speaker 8: how much you have. If you got five, I have ten, 137 00:07:06,040 --> 00:07:08,320 Speaker 8: you have fifteen, then we will all get a different amount, 138 00:07:08,360 --> 00:07:11,640 Speaker 8: but the underlying asset value is the same. 139 00:07:11,800 --> 00:07:14,080 Speaker 4: So what are what are what are some top companies 140 00:07:14,080 --> 00:07:15,440 Speaker 4: as far as dividends these days? 141 00:07:15,440 --> 00:07:17,440 Speaker 2: What are they at? 142 00:07:17,560 --> 00:07:25,320 Speaker 8: And T pays six that's major now they So this 143 00:07:25,360 --> 00:07:28,400 Speaker 8: is a dupe part. So we talk about real estate, right, 144 00:07:29,760 --> 00:07:32,800 Speaker 8: the real estate aspect of the stock market, which is 145 00:07:32,840 --> 00:07:37,280 Speaker 8: called real estate investment trust, which is a rip, which 146 00:07:37,400 --> 00:07:42,520 Speaker 8: is saying I can own Walmart as a business, and 147 00:07:42,600 --> 00:07:45,200 Speaker 8: I can own the people who Walmart pay rent to 148 00:07:46,760 --> 00:07:49,240 Speaker 8: because they don't own the building, they just own the name. 149 00:07:50,680 --> 00:07:55,800 Speaker 8: Like Amazon has a warehouse, I can own Amazon, and 150 00:07:55,880 --> 00:07:59,960 Speaker 8: I can also own the warehouse who pay who Amazon 151 00:08:00,240 --> 00:08:05,120 Speaker 8: pays the rent to? Rates pay higher dividends. We talking 152 00:08:05,160 --> 00:08:12,360 Speaker 8: twelve percent, nine percent, seven percent, So individual stocks, uh 153 00:08:13,080 --> 00:08:20,520 Speaker 8: AT and T Macy's centuryly, Now that's a bad business, 154 00:08:21,120 --> 00:08:22,880 Speaker 8: but they pay a high dividend. 155 00:08:23,160 --> 00:08:25,040 Speaker 2: That's what it's called a dividend trap. We're not gonna 156 00:08:25,040 --> 00:08:25,440 Speaker 2: get into that. 157 00:08:26,160 --> 00:08:28,800 Speaker 6: How they disperse quarterly, how they disperse. 158 00:08:28,600 --> 00:08:29,840 Speaker 2: So every business is different. 159 00:08:29,920 --> 00:08:32,440 Speaker 8: So with a lot of the rates they come out, 160 00:08:33,760 --> 00:08:35,640 Speaker 8: some of them pay monthly and some Remember I was 161 00:08:35,679 --> 00:08:37,439 Speaker 8: telling you that I have businesses. 162 00:08:37,760 --> 00:08:39,760 Speaker 2: One of my businesses is Apple Reality. 163 00:08:40,120 --> 00:08:45,240 Speaker 8: They own one hundred and twenty eight Schratons and Hilton's 164 00:08:45,280 --> 00:08:49,920 Speaker 8: and two hundred and something Marriotts. They're not going out 165 00:08:49,920 --> 00:08:52,640 Speaker 8: of business in the time zoom. But they pay me, 166 00:08:52,760 --> 00:08:55,040 Speaker 8: I think, at a nine percent rate on their rates 167 00:08:55,240 --> 00:08:58,200 Speaker 8: and they pay that monthly. So every month they're paying me. 168 00:08:59,120 --> 00:09:01,400 Speaker 5: So that's not sending the money that you have invested. 169 00:09:01,480 --> 00:09:04,439 Speaker 8: No, that's nine percent of the stock price. Okay, right, 170 00:09:04,480 --> 00:09:06,959 Speaker 8: so that's all the dividend yield is. So a dividend 171 00:09:07,040 --> 00:09:09,840 Speaker 8: yield is this. If the stock price is one hundred 172 00:09:09,840 --> 00:09:13,400 Speaker 8: dollars and a dividend yield is five percent, then your 173 00:09:13,480 --> 00:09:16,000 Speaker 8: dividend is five percent of that one hundred dollars. 174 00:09:16,240 --> 00:09:18,880 Speaker 2: That's what you're getting paid. Okay, that makes sense. 175 00:09:19,360 --> 00:09:22,840 Speaker 4: It's passive, superpass passive, but you do have to have 176 00:09:22,960 --> 00:09:25,120 Speaker 4: large amount for it to It's the truth. But you 177 00:09:25,160 --> 00:09:30,680 Speaker 4: were saying that you have to start looking at it like, okay, 178 00:09:30,720 --> 00:09:31,720 Speaker 4: just to pay my cell phone? 179 00:09:32,280 --> 00:09:32,720 Speaker 2: Your freedom? 180 00:09:33,160 --> 00:09:36,199 Speaker 8: Can you talk about at and T but you So 181 00:09:36,520 --> 00:09:40,959 Speaker 8: what happened to me was I started asking myself, how. 182 00:09:40,760 --> 00:09:44,000 Speaker 2: Do I buy back my freedom? Right? Like, how do 183 00:09:44,080 --> 00:09:44,880 Speaker 2: I buy it back? 184 00:09:44,920 --> 00:09:48,720 Speaker 8: That's right, because it's not given to you, just like 185 00:09:49,040 --> 00:09:51,280 Speaker 8: you know, shadow slavery, Like I'm not going to give 186 00:09:51,280 --> 00:09:52,800 Speaker 8: it to you. You got to buy it back. You gotta 187 00:09:52,800 --> 00:09:55,320 Speaker 8: fight for it. So I was like, how do I 188 00:09:55,400 --> 00:10:00,240 Speaker 8: buy back my freedom with the stock market? Because you 189 00:10:00,280 --> 00:10:03,240 Speaker 8: can't save to investigate it back, right, we know that 190 00:10:03,440 --> 00:10:05,240 Speaker 8: you can't work a bunch of hours to get it back. 191 00:10:06,000 --> 00:10:11,160 Speaker 8: So the next best thing for me was dividends. So 192 00:10:11,640 --> 00:10:15,200 Speaker 8: I was like, Okay, what do I use every day? 193 00:10:16,200 --> 00:10:21,839 Speaker 8: My phone bill? At and T and I have Apple product. 194 00:10:22,000 --> 00:10:25,080 Speaker 8: So because AT and T pays a five percent six 195 00:10:25,120 --> 00:10:27,839 Speaker 8: percent dividend year, I was like, okay, I need this 196 00:10:28,080 --> 00:10:34,840 Speaker 8: many shares of this business to pay off my phone bill. 197 00:10:35,520 --> 00:10:36,640 Speaker 2: Every four months. 198 00:10:37,320 --> 00:10:42,160 Speaker 8: Because AT and T pays quarterly, which is every three months, 199 00:10:42,960 --> 00:10:46,920 Speaker 8: Disney pays semi annually, which is twice a year, and 200 00:10:46,960 --> 00:10:49,000 Speaker 8: then you have some businesses that pay every month. 201 00:10:49,800 --> 00:10:52,280 Speaker 2: Right, So I was like, Okay, if I can get 202 00:10:52,320 --> 00:10:54,480 Speaker 2: AT and T to pay my. 203 00:10:54,520 --> 00:11:01,600 Speaker 8: Phone bill through their dividends full times a year, then 204 00:11:01,640 --> 00:11:04,320 Speaker 8: I have essentially bought back my freedom because I no 205 00:11:04,400 --> 00:11:06,360 Speaker 8: longer have to work to pay for that phone bill. 206 00:11:06,960 --> 00:11:09,840 Speaker 2: AT and T paying for me and. 207 00:11:09,800 --> 00:11:13,400 Speaker 8: So you can do that which your if you're in Georgia, 208 00:11:14,400 --> 00:11:17,959 Speaker 8: you can use Southern Company, which is another great dividend business. 209 00:11:18,520 --> 00:11:20,480 Speaker 8: How much is your phone bill and your light buil 210 00:11:21,120 --> 00:11:24,240 Speaker 8: eighty one hundred dollars? They pay like a three four 211 00:11:24,280 --> 00:11:29,360 Speaker 8: percent dividend. Figure out how much the dividend is per quarter, 212 00:11:30,720 --> 00:11:34,080 Speaker 8: how many shares your need of that business, and then. 213 00:11:34,000 --> 00:11:35,120 Speaker 2: Let that pay your light bail. 214 00:11:35,160 --> 00:11:37,480 Speaker 8: So if you can give your dividends from a business 215 00:11:37,600 --> 00:11:39,960 Speaker 8: to pay your light buil and your phone bill, you've 216 00:11:40,000 --> 00:11:42,360 Speaker 8: bought back some of your freedom because now you can 217 00:11:42,400 --> 00:11:45,280 Speaker 8: take that money and invest it and do something else 218 00:11:45,360 --> 00:11:49,880 Speaker 8: with it. That's optimizing your money. The money is just 219 00:11:49,920 --> 00:11:52,319 Speaker 8: a tool. We know that much. So if we can 220 00:11:52,400 --> 00:11:54,480 Speaker 8: use the tool to do that it's supposed to do, 221 00:11:55,520 --> 00:11:57,600 Speaker 8: then we get maximum value for it. 222 00:11:57,640 --> 00:12:00,320 Speaker 4: And that's so once you fully understand that thing, you 223 00:12:00,320 --> 00:12:04,760 Speaker 4: start to understand that. It's like Spanish, right, So I 224 00:12:04,800 --> 00:12:06,640 Speaker 4: don't know how mean Spanish people in New Orleans, but 225 00:12:06,760 --> 00:12:10,600 Speaker 4: they got half of like seventy percent of New York 226 00:12:10,720 --> 00:12:14,080 Speaker 4: is Spanish. Maybe not fifty percent, Yeah, fifty percent of 227 00:12:14,080 --> 00:12:17,240 Speaker 4: New York is Spanish. So I say, I have to 228 00:12:17,280 --> 00:12:20,720 Speaker 4: say when you're around Spanish enough, you start to understand 229 00:12:20,720 --> 00:12:21,959 Speaker 4: it a little bit better. Maybe you might not be 230 00:12:22,040 --> 00:12:23,280 Speaker 4: able to speak it, but you can kind of have 231 00:12:23,320 --> 00:12:26,520 Speaker 4: a general understanding of Right, the same thing with investing. 232 00:12:27,000 --> 00:12:30,240 Speaker 4: When you're around the language of investing, it starts to 233 00:12:30,240 --> 00:12:33,880 Speaker 4: make sense and you realize that they're all kind of similar. 234 00:12:34,000 --> 00:12:37,200 Speaker 4: It's just like actually when you learn foreign languages, like 235 00:12:37,880 --> 00:12:40,679 Speaker 4: Spanish is similar to French. They all come from like 236 00:12:40,720 --> 00:12:43,600 Speaker 4: a Dane. Yeah, they're all kind of similar. I forget 237 00:12:43,600 --> 00:12:46,480 Speaker 4: where they actually the route came from. But long story 238 00:12:46,520 --> 00:12:49,319 Speaker 4: short of it is that what you just explained was 239 00:12:49,360 --> 00:12:52,640 Speaker 4: the same theory that dj MVY explained to us. He 240 00:12:52,679 --> 00:12:55,520 Speaker 4: says that he doesn't buy any liability until he has 241 00:12:55,559 --> 00:12:57,400 Speaker 4: an asset to pay for. His thing is real estate, 242 00:12:57,480 --> 00:12:59,679 Speaker 4: So he buys a home and now he has a 243 00:12:59,720 --> 00:13:06,080 Speaker 4: home to actually pay rental for his Lamborghini or something 244 00:13:06,160 --> 00:13:07,960 Speaker 4: like that. Like what I'm saying, So you just bring 245 00:13:07,960 --> 00:13:08,880 Speaker 4: it down a small level. 246 00:13:09,120 --> 00:13:11,560 Speaker 6: But because I mean, that's key though, right if you 247 00:13:11,559 --> 00:13:12,840 Speaker 6: break it out a small level like. 248 00:13:12,720 --> 00:13:14,920 Speaker 5: Well, yeah, well and then and then also people have 249 00:13:14,960 --> 00:13:15,600 Speaker 5: to understand too. 250 00:13:15,679 --> 00:13:17,600 Speaker 4: Is that so people might say, okay, well I got 251 00:13:17,640 --> 00:13:20,199 Speaker 4: to put two thousand dollars into a stock to get 252 00:13:20,400 --> 00:13:23,720 Speaker 4: one hundred dollars diffidend, it's not worth it. But the 253 00:13:23,800 --> 00:13:26,160 Speaker 4: thing about it is that it's not like you're paying 254 00:13:26,200 --> 00:13:28,440 Speaker 4: for something. You're investing, so that two thousand is going 255 00:13:28,520 --> 00:13:30,920 Speaker 4: to grow over the course of time while you're getting 256 00:13:30,960 --> 00:13:33,520 Speaker 4: your diffidends. So it's not like you just putting your 257 00:13:33,520 --> 00:13:35,640 Speaker 4: money into never ever Land. It's actually going to an 258 00:13:35,679 --> 00:13:38,480 Speaker 4: investment that will probably gain value over the course of time. 259 00:13:38,640 --> 00:13:42,040 Speaker 4: But in the meantime, you're actually gaining income that you 260 00:13:42,120 --> 00:13:45,000 Speaker 4: can use via the dividend. And now you can actually 261 00:13:45,080 --> 00:13:46,920 Speaker 4: use that to support your lifestyle because, like you said, 262 00:13:47,400 --> 00:13:51,240 Speaker 4: you got to find a way to actually make money 263 00:13:51,520 --> 00:13:53,480 Speaker 4: while you're sleep. That's what Warren Buffet said, right. He 264 00:13:53,480 --> 00:13:55,719 Speaker 4: said it said if you don't make money while you're 265 00:13:55,720 --> 00:14:00,480 Speaker 4: sleeping works. So by doing that, now you're actually Okay, 266 00:14:00,520 --> 00:14:02,320 Speaker 4: Now I can, like you said, you can focus on Okay, 267 00:14:02,320 --> 00:14:04,360 Speaker 4: now I did that. Now I gotta do something to 268 00:14:04,400 --> 00:14:06,679 Speaker 4: pay all right, I got to pay my mortgage, and 269 00:14:06,679 --> 00:14:08,200 Speaker 4: I gotta do something to pay my card bill. And 270 00:14:08,240 --> 00:14:12,200 Speaker 4: then before you know it, you're not actually paying anything yourself. 271 00:14:12,360 --> 00:14:15,160 Speaker 4: It's all being paid for you, which leaves you more 272 00:14:15,200 --> 00:14:18,400 Speaker 4: money because that two hundred that now you can actually 273 00:14:18,760 --> 00:14:20,760 Speaker 4: reinvest and do other things and just kind of like 274 00:14:20,760 --> 00:14:21,480 Speaker 4: a domino. 275 00:14:21,240 --> 00:14:23,280 Speaker 6: Fest like Lord said, but it's like yo, I treat 276 00:14:23,360 --> 00:14:24,280 Speaker 6: money like little soldiers. 277 00:14:24,440 --> 00:14:25,680 Speaker 2: They have to go work, listen. 278 00:14:26,280 --> 00:14:32,680 Speaker 8: But also also he's forgetting something that's major, the ownership. 279 00:14:34,080 --> 00:14:35,280 Speaker 2: Yep, you feel me. 280 00:14:35,840 --> 00:14:38,760 Speaker 8: So while your money is working for you through the dividends, 281 00:14:39,440 --> 00:14:45,040 Speaker 8: your ownership, your equity is also increasing. So that's how 282 00:14:45,040 --> 00:14:47,080 Speaker 8: you like you leverage the game with that. 283 00:14:47,520 --> 00:14:49,480 Speaker 4: And that's something that people don't understand either. It's like 284 00:14:49,840 --> 00:14:52,240 Speaker 4: people's like, well, everybody's not an entrepreneur. I don't want 285 00:14:52,280 --> 00:14:54,440 Speaker 4: to own a business. There's a lot that comes with 286 00:14:54,480 --> 00:14:56,280 Speaker 4: owning a business. But there's more than one way to 287 00:14:56,320 --> 00:14:59,440 Speaker 4: own a business. If you buy a stock, you're an owner, 288 00:14:59,520 --> 00:15:03,120 Speaker 4: and that come that's one that's probably the easiest way 289 00:15:03,560 --> 00:15:06,080 Speaker 4: to own a business. Now you're not going to be 290 00:15:07,000 --> 00:15:09,960 Speaker 4: a majority owner, but it doesn't matter, it doesn't you're 291 00:15:10,000 --> 00:15:11,120 Speaker 4: still an owner. 292 00:15:11,440 --> 00:15:12,040 Speaker 2: Something better. 293 00:15:12,840 --> 00:15:18,080 Speaker 8: So Warren Buffett owns six percent of Coca Cola, right, 294 00:15:18,520 --> 00:15:22,120 Speaker 8: so he's still not a majority owner, but he still 295 00:15:22,200 --> 00:15:25,360 Speaker 8: has say sol and this is the one thing about 296 00:15:25,360 --> 00:15:28,960 Speaker 8: the stock market that I love. I still can vote 297 00:15:29,520 --> 00:15:32,400 Speaker 8: on every business that I own, and they have to 298 00:15:32,400 --> 00:15:36,280 Speaker 8: acknowledge me, like, I literally bought three shells of brickshot 299 00:15:36,360 --> 00:15:38,080 Speaker 8: have the way B. Let's make sure I say. 300 00:15:37,960 --> 00:15:38,240 Speaker 6: That, B. 301 00:15:39,480 --> 00:15:42,600 Speaker 5: What's what's the add hundred somethings. 302 00:15:42,560 --> 00:15:45,200 Speaker 2: Go up to one hundred. It's three hundred and some thousand. 303 00:15:45,840 --> 00:15:47,720 Speaker 2: There's a difference. It's a big difference. So let me 304 00:15:47,760 --> 00:15:49,440 Speaker 2: say because I don't know nobody to be like, hey man, 305 00:15:49,480 --> 00:15:51,160 Speaker 2: you gotta you ain't got no man. 306 00:15:51,240 --> 00:15:51,800 Speaker 4: I heard. 307 00:15:53,560 --> 00:15:58,640 Speaker 2: Feel it. So I literally bought three shares of Berkshaw 308 00:15:58,760 --> 00:15:59,560 Speaker 2: b which is. 309 00:15:59,560 --> 00:16:01,400 Speaker 5: Which is Warren Buffert's companybody. 310 00:16:01,480 --> 00:16:03,920 Speaker 2: Yes, I bought my daughter. That's another thing. 311 00:16:04,000 --> 00:16:06,400 Speaker 8: So at three years old, my daughter has five thousand 312 00:16:06,440 --> 00:16:07,280 Speaker 8: dollars invested in the stock. 313 00:16:07,320 --> 00:16:08,920 Speaker 5: Oh I want to talk about that? You yeah? Finished. 314 00:16:09,840 --> 00:16:15,320 Speaker 2: But I bought three shares of Birkshaw Beat so I 315 00:16:15,360 --> 00:16:16,160 Speaker 2: could go to. 316 00:16:16,880 --> 00:16:20,680 Speaker 8: The Warren Buffett annual meeting and I had right to 317 00:16:20,760 --> 00:16:22,320 Speaker 8: vote on anything in Omaha. 318 00:16:22,600 --> 00:16:26,320 Speaker 2: Yeah, I went to NIPS. That's when everything happened. 319 00:16:26,360 --> 00:16:28,280 Speaker 8: I'm going next year for show for Shure, and the 320 00:16:28,280 --> 00:16:30,080 Speaker 8: only way you can go is if you own at 321 00:16:30,160 --> 00:16:33,400 Speaker 8: least one share, right, So I was like, okay, cool, 322 00:16:33,720 --> 00:16:35,640 Speaker 8: and you actually get to talk to this man. 323 00:16:35,960 --> 00:16:37,680 Speaker 4: So I'm glad you said that about your daughter because 324 00:16:37,720 --> 00:16:41,040 Speaker 4: speaking of Nip. Actually, when we I posted about Nip, 325 00:16:41,240 --> 00:16:44,920 Speaker 4: you commented on that post for sure about and you 326 00:16:44,960 --> 00:16:47,160 Speaker 4: were talking about a custodian account for your daughter. So 327 00:16:47,200 --> 00:16:49,440 Speaker 4: I had put a post up that, like, if you 328 00:16:49,520 --> 00:16:53,520 Speaker 4: celebrate Christmas or for kids' birthdays, a suggestion is that 329 00:16:53,640 --> 00:16:56,120 Speaker 4: you know, if you're going to spend two hundred dollars 330 00:16:56,120 --> 00:16:58,040 Speaker 4: on gifts, maybe spend one hundred dollars on the gifts 331 00:16:58,040 --> 00:16:59,760 Speaker 4: and one hundred dollars on an anostment. 332 00:16:59,800 --> 00:17:01,280 Speaker 5: Right, You like, well, how do I do that? 333 00:17:01,360 --> 00:17:03,200 Speaker 2: So I walk you through that. 334 00:17:03,280 --> 00:17:05,040 Speaker 5: Yeah, exactly. 335 00:17:05,400 --> 00:17:11,000 Speaker 8: So it's basically, I don't buy my daughter toys at all, 336 00:17:11,680 --> 00:17:14,160 Speaker 8: I told her mom, And I'm like, listen, I'll buy clothes, 337 00:17:14,160 --> 00:17:18,240 Speaker 8: i'll buy food, I'll buy necessities, but everything else I'm 338 00:17:18,240 --> 00:17:23,240 Speaker 8: buying stocks. So just walking it's called a UGMA account, 339 00:17:23,800 --> 00:17:26,679 Speaker 8: it's a custodial com I use TDM ror Trade and 340 00:17:26,720 --> 00:17:28,520 Speaker 8: all you're doing is is just like opening up a 341 00:17:28,520 --> 00:17:31,720 Speaker 8: bank account, and you'll just add your kid to it. 342 00:17:32,359 --> 00:17:36,679 Speaker 8: And what happens is you have actual control of the 343 00:17:36,760 --> 00:17:41,720 Speaker 8: account until the kid is eighteen. Once the kid makes eighteen, 344 00:17:43,040 --> 00:17:47,520 Speaker 8: then they have control. My thing is simple, and so 345 00:17:47,560 --> 00:17:50,240 Speaker 8: this is how we shift the dynamics, Like that's this 346 00:17:50,320 --> 00:17:52,000 Speaker 8: ownership stuff is real powerful to me. 347 00:17:53,200 --> 00:17:57,520 Speaker 2: My daughter is three and I invest money for her. 348 00:17:57,800 --> 00:18:01,720 Speaker 8: Monthly weekly right Right now, my daughter at three can 349 00:18:01,720 --> 00:18:03,399 Speaker 8: tell you what assets and liabilities are. 350 00:18:03,440 --> 00:18:04,720 Speaker 2: These is a conversation that we have. 351 00:18:05,160 --> 00:18:08,200 Speaker 8: Right she knows I said what dividends come from, She'll say, 352 00:18:08,200 --> 00:18:09,320 Speaker 8: dividends come from shells. 353 00:18:09,440 --> 00:18:10,120 Speaker 2: She'll say that. 354 00:18:10,960 --> 00:18:16,879 Speaker 8: By the time she's eighteen, she'll already be six figures 355 00:18:17,160 --> 00:18:18,000 Speaker 8: her own network. 356 00:18:19,000 --> 00:18:23,200 Speaker 2: That's powerful. That's a whole nother dynamic. 357 00:18:23,280 --> 00:18:27,880 Speaker 8: We've put her in position to have privileged opportunities. 358 00:18:28,440 --> 00:18:28,720 Speaker 2: Right. 359 00:18:29,760 --> 00:18:35,800 Speaker 8: Also, we've now established to her the importance of ownership. 360 00:18:37,520 --> 00:18:37,760 Speaker 5: Right. 361 00:18:37,840 --> 00:18:39,399 Speaker 8: So what happened with us when we was kids, I 362 00:18:39,400 --> 00:18:41,680 Speaker 8: don't know about y'all. When I was kids, money was 363 00:18:41,720 --> 00:18:43,960 Speaker 8: always scarce, like we ain't gonna money for that. 364 00:18:44,000 --> 00:18:47,520 Speaker 2: We got bills, right, you know. 365 00:18:47,800 --> 00:18:51,200 Speaker 8: But now at three, she can talk to me about 366 00:18:51,200 --> 00:18:51,879 Speaker 8: Disney stoff. 367 00:18:53,119 --> 00:18:55,000 Speaker 2: You know what I'm saying. So for me, that's what 368 00:18:55,080 --> 00:18:55,280 Speaker 2: I do. 369 00:18:55,400 --> 00:18:57,840 Speaker 8: Everything we do right now, her account, I think she 370 00:18:57,880 --> 00:19:00,199 Speaker 8: had like fifty five hundred because I've been buying these 371 00:19:00,200 --> 00:19:02,160 Speaker 8: weed stocks since they've been on sale and I bought 372 00:19:02,160 --> 00:19:02,600 Speaker 8: some for her. 373 00:19:03,680 --> 00:19:04,439 Speaker 2: Can it be growth? 374 00:19:05,240 --> 00:19:06,920 Speaker 3: What was the name of the account at the bank, 375 00:19:07,800 --> 00:19:10,720 Speaker 3: the type of account, It's called a custodial account, but 376 00:19:10,760 --> 00:19:12,480 Speaker 3: when you look it up on the TD Amelitrade, it's 377 00:19:12,480 --> 00:19:13,840 Speaker 3: going to be called U G and me. 378 00:19:14,080 --> 00:19:16,120 Speaker 6: Can it go through? I know you said TD Melitarde, 379 00:19:16,119 --> 00:19:17,800 Speaker 6: but I'll do it. Is it all through other banks 380 00:19:17,800 --> 00:19:18,160 Speaker 6: as well? 381 00:19:18,280 --> 00:19:18,480 Speaker 1: Well? 382 00:19:18,600 --> 00:19:19,200 Speaker 2: I went through. 383 00:19:19,320 --> 00:19:24,320 Speaker 8: You can go through Fidelity, Charles Swab most of them have. 384 00:19:24,480 --> 00:19:28,360 Speaker 4: Yeah, they have account. They have five twenty nine, which 385 00:19:28,440 --> 00:19:30,360 Speaker 4: is a college savings plan a couple of different ways. 386 00:19:30,520 --> 00:19:32,600 Speaker 8: I don't like the five twenty nine. Why not because 387 00:19:32,640 --> 00:19:35,480 Speaker 8: it's boxed in. That's true, it's boxed and just you 388 00:19:35,600 --> 00:19:36,440 Speaker 8: have to use vocal. 389 00:19:36,680 --> 00:19:38,800 Speaker 4: Well, they actually changed it with the new tax law 390 00:19:38,800 --> 00:19:40,600 Speaker 4: and now you canay any form of education. 391 00:19:40,840 --> 00:19:43,480 Speaker 5: Okay, it don't have to be used. Yeah yeah, yeah, yeah, 392 00:19:43,600 --> 00:19:44,400 Speaker 5: you get penalized. 393 00:19:44,520 --> 00:19:48,040 Speaker 8: And so with the with the custodio account, she used 394 00:19:48,040 --> 00:19:50,480 Speaker 8: for whatever she wants at eighteen. 395 00:19:50,720 --> 00:19:52,520 Speaker 2: So that's why it's good for you. Now you can 396 00:19:52,520 --> 00:19:53,480 Speaker 2: build that conversation. 397 00:19:54,080 --> 00:19:55,560 Speaker 8: That's why it's good for us to learn how to 398 00:19:55,600 --> 00:19:59,040 Speaker 8: invest because our kids are going to do what they 399 00:19:59,040 --> 00:20:01,920 Speaker 8: see us doing. That's just a natural fact. We all 400 00:20:01,960 --> 00:20:03,560 Speaker 8: are creatures of our environment. 401 00:20:03,840 --> 00:20:05,240 Speaker 2: It is what it is. 402 00:20:05,640 --> 00:20:07,560 Speaker 8: So we start having these conversations with them at a 403 00:20:07,600 --> 00:20:10,119 Speaker 8: young age. Like her favorite book right now is a 404 00:20:10,119 --> 00:20:11,920 Speaker 8: book called the Evolution of Money. 405 00:20:12,600 --> 00:20:14,480 Speaker 2: Right, she'd be like that, let's read the Evolution of 406 00:20:14,560 --> 00:20:16,160 Speaker 2: Money right and three. 407 00:20:17,240 --> 00:20:19,600 Speaker 5: You know what I'm trying to read. Yeah, yeah, I'm 408 00:20:19,640 --> 00:20:20,320 Speaker 5: trying to figure out. 409 00:20:21,200 --> 00:20:27,200 Speaker 3: We walked through this as a parent, I'm in educating 410 00:20:27,240 --> 00:20:29,000 Speaker 3: my son is thest five and these. 411 00:20:30,119 --> 00:20:31,320 Speaker 2: What I mean? She read? 412 00:20:31,440 --> 00:20:35,240 Speaker 8: She she I will say this she identifies words, all right, Okay, so. 413 00:20:35,359 --> 00:20:37,840 Speaker 2: I'm not gonna say like she likes Yeah, I'm not 414 00:20:37,840 --> 00:20:39,280 Speaker 2: gonna say like she on some dougie. 415 00:20:41,400 --> 00:20:44,119 Speaker 4: She identifies words now, But that's shouldn't be powerful, like 416 00:20:44,160 --> 00:20:46,480 Speaker 4: you said, because the parents have to leave it by example. 417 00:20:46,560 --> 00:20:48,280 Speaker 5: You have to if you don't have an example for. 418 00:20:48,240 --> 00:20:50,160 Speaker 2: You, Ernest, what's up? 419 00:20:50,240 --> 00:20:53,280 Speaker 3: You ever walk into a small business and everything just works, 420 00:20:53,640 --> 00:20:56,960 Speaker 3: like the checkout is fast, the receipts of digital tipping 421 00:20:57,200 --> 00:20:59,600 Speaker 3: is a breeze, and you're out the door before the 422 00:20:59,640 --> 00:21:04,080 Speaker 3: line of builds. 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Hiring indeed is 464 00:23:37,240 --> 00:23:38,679 Speaker 1: all you need get. 465 00:23:38,600 --> 00:23:41,400 Speaker 4: Kids, then they're going to get the example just from 466 00:23:41,640 --> 00:23:44,120 Speaker 4: pop culture, world music, world streets. 467 00:23:43,680 --> 00:23:44,120 Speaker 5: Like you know what I mean. 468 00:23:44,200 --> 00:23:47,719 Speaker 4: So it's extremely important. And like I said, it's just 469 00:23:48,680 --> 00:23:52,840 Speaker 4: seeing different people in different conversations, and it's like that's 470 00:23:52,880 --> 00:23:54,760 Speaker 4: one of the cool things about this podcast. It's like 471 00:23:55,560 --> 00:24:00,880 Speaker 4: we have these conversations and if it's like we could 472 00:24:00,880 --> 00:24:02,800 Speaker 4: be like people on the basketball court or just you 473 00:24:02,840 --> 00:24:04,920 Speaker 4: know what I mean, like, but we're actually talking about 474 00:24:05,000 --> 00:24:07,320 Speaker 4: things that are really important, you know what I'm saying. 475 00:24:07,640 --> 00:24:10,400 Speaker 4: So it's like a cool feel because it's not stuck up, 476 00:24:10,440 --> 00:24:13,280 Speaker 4: it's not fake, it's not phony, it's natural. And a 477 00:24:13,320 --> 00:24:15,480 Speaker 4: lot of times until yeah, people feel like they have 478 00:24:15,520 --> 00:24:20,120 Speaker 4: to like dumb themselves down to be accepted or you can't. 479 00:24:20,160 --> 00:24:21,960 Speaker 4: You got to watch how you speak because you don't 480 00:24:21,960 --> 00:24:23,240 Speaker 4: want to sound too intelligent. 481 00:24:23,440 --> 00:24:24,880 Speaker 5: Right, these things is real. 482 00:24:27,480 --> 00:24:29,639 Speaker 4: I'm glad that that I think that the tide is 483 00:24:29,640 --> 00:24:31,040 Speaker 4: starting to turn on that it is. 484 00:24:31,640 --> 00:24:36,800 Speaker 8: I actually like I love the the temperature that's going 485 00:24:36,840 --> 00:24:40,119 Speaker 8: on right now, just with even with you all, you know, 486 00:24:40,359 --> 00:24:42,840 Speaker 8: I'm like, bro, like y'all, y'all shifting the culture with this. 487 00:24:43,480 --> 00:24:46,639 Speaker 8: Appreciate you know what I'm saying, because there are a 488 00:24:46,720 --> 00:24:49,240 Speaker 8: lot of podcasts out there, right, everybody. 489 00:24:49,359 --> 00:24:51,680 Speaker 2: Everybody has something to say. It's a fact. 490 00:24:52,320 --> 00:24:53,040 Speaker 5: That's a fact. 491 00:24:53,160 --> 00:24:55,119 Speaker 8: Right, Everybody has something to say and they want to 492 00:24:55,160 --> 00:24:58,920 Speaker 8: say it in their own unique way. What I love 493 00:24:58,960 --> 00:25:03,120 Speaker 8: about y'all have it. However, you're gonna come speak speak it. 494 00:25:04,760 --> 00:25:07,120 Speaker 8: You feel what I'm saying like, there is no Hey, 495 00:25:07,160 --> 00:25:09,600 Speaker 8: we can't like whatever you want to speak about. But 496 00:25:10,600 --> 00:25:14,760 Speaker 8: it's all about the improvement of the culture. As far 497 00:25:14,800 --> 00:25:17,680 Speaker 8: as you know financial literacy, and I know you was 498 00:25:17,720 --> 00:25:18,640 Speaker 8: in the finance. 499 00:25:18,400 --> 00:25:20,000 Speaker 2: Bro, so that's a whole nother life. 500 00:25:20,200 --> 00:25:24,680 Speaker 6: Next, right, the ownership ownership, Right, nobody's telling the right. 501 00:25:24,760 --> 00:25:27,920 Speaker 6: Make sure y'all cover this bay. We're gonna put the cameras. 502 00:25:28,040 --> 00:25:31,520 Speaker 6: Werena go hard speaking, right, it's problem man. 503 00:25:31,920 --> 00:25:33,080 Speaker 2: I remember you posted something. 504 00:25:33,480 --> 00:25:37,400 Speaker 8: You said something about ownership, something to be posted like recently, 505 00:25:37,600 --> 00:25:41,080 Speaker 8: and I love when you post certain stuff because I 506 00:25:41,080 --> 00:25:43,760 Speaker 8: can come in there and just go harder. Right, I'll 507 00:25:43,760 --> 00:25:46,600 Speaker 8: be waiting, like, come on, man, come with it. Like so, 508 00:25:46,840 --> 00:25:51,120 Speaker 8: and somebody complained about you talk. It was about taxes, 509 00:25:52,520 --> 00:25:56,840 Speaker 8: and I said, the problem is that because somebody said, 510 00:25:56,840 --> 00:25:57,320 Speaker 8: why don't they. 511 00:25:57,280 --> 00:25:59,680 Speaker 5: Teach you the wealthiest people? 512 00:26:00,080 --> 00:26:04,280 Speaker 8: Yeah, And so I was like, yo, why would they 513 00:26:04,280 --> 00:26:05,399 Speaker 8: teach us this in school? 514 00:26:06,160 --> 00:26:10,160 Speaker 2: It's not that they should teach us. Why would they? Right, 515 00:26:11,320 --> 00:26:14,920 Speaker 2: So this is a dope analogy that I always use. 516 00:26:15,960 --> 00:26:18,680 Speaker 8: So we know that the lion is at the top 517 00:26:18,720 --> 00:26:21,320 Speaker 8: of the food chain, right, So he's not the king 518 00:26:21,359 --> 00:26:23,520 Speaker 8: of the jungle, like we feel like that's some bullshit. Right, 519 00:26:23,520 --> 00:26:25,440 Speaker 8: here's in a Safaris so I'm not gonna say that shit. 520 00:26:26,320 --> 00:26:29,959 Speaker 8: But he's at the top of the food chain. The 521 00:26:30,080 --> 00:26:36,480 Speaker 8: lion cannot tell the zebra, the impilor. 522 00:26:36,440 --> 00:26:40,119 Speaker 2: Or the water buffalo how to get away. He can't. 523 00:26:40,760 --> 00:26:43,000 Speaker 2: If I tell you how to get away? What do 524 00:26:43,080 --> 00:26:45,920 Speaker 2: I eat? What do I eat? 525 00:26:46,560 --> 00:26:51,600 Speaker 8: Either I become a vegetarian or I eat my own kind? Right, 526 00:26:52,359 --> 00:26:55,800 Speaker 8: So he can't and if he did, they would tell 527 00:26:55,920 --> 00:26:57,399 Speaker 8: one another how to get away. 528 00:26:58,800 --> 00:27:03,320 Speaker 2: Same thing with this the upper echelon or. 529 00:27:03,680 --> 00:27:09,200 Speaker 8: The financial predators, we are the financial prey. I can't 530 00:27:09,200 --> 00:27:11,480 Speaker 8: teach you how to get away, but if you learn, 531 00:27:11,720 --> 00:27:15,880 Speaker 8: I can't stop you. I can't stop you. 532 00:27:16,000 --> 00:27:21,479 Speaker 2: Wealthy people don't meet wealthy people. Rich poor people do. Fact, 533 00:27:21,760 --> 00:27:22,119 Speaker 2: because we. 534 00:27:22,160 --> 00:27:25,359 Speaker 8: Have no relationship with money. So I can't teach you 535 00:27:25,400 --> 00:27:27,520 Speaker 8: how to get away and what I'm gonna do. But 536 00:27:27,520 --> 00:27:29,480 Speaker 8: I'm gonna teach my kids how to be predators. And 537 00:27:29,480 --> 00:27:31,480 Speaker 8: I'm teaching my daughter how to be a predator, not 538 00:27:31,560 --> 00:27:34,800 Speaker 8: on people, but just how to have ownership. 539 00:27:34,920 --> 00:27:36,119 Speaker 2: They can't teach you that in school. 540 00:27:36,240 --> 00:27:39,840 Speaker 4: Why what they Yeah, that's like, yeah, that's what. That's 541 00:27:39,880 --> 00:27:42,920 Speaker 4: what the five percenters say, like eighty five percents by tempercent, 542 00:27:43,280 --> 00:27:45,399 Speaker 4: which is like the bloodsuckers are the poor and the 543 00:27:45,440 --> 00:27:48,840 Speaker 4: five percent the poor righteous teachers. But we're not poor, 544 00:27:49,280 --> 00:27:49,840 Speaker 4: but we. 545 00:27:50,160 --> 00:27:54,240 Speaker 2: Right facts, we're gonnaerate that. 546 00:27:54,320 --> 00:27:56,840 Speaker 4: We're gonna take the poor part out that because like that, 547 00:27:56,920 --> 00:28:00,240 Speaker 4: we we're gonna even pay the full like that, you know, 548 00:28:00,600 --> 00:28:02,920 Speaker 4: because yeah, we're gonna We're gonna liberate the people from 549 00:28:02,960 --> 00:28:04,240 Speaker 4: the bloodsuckers of the poor for. 550 00:28:04,280 --> 00:28:05,560 Speaker 5: Sure, for the facts. 551 00:28:05,680 --> 00:28:06,400 Speaker 2: Appreciate that. 552 00:28:06,560 --> 00:28:08,159 Speaker 6: Can we just talk about investing in ETFs. 553 00:28:08,240 --> 00:28:11,080 Speaker 8: Let's talk about so explain Can you explain what the 554 00:28:11,119 --> 00:28:15,639 Speaker 8: ETF is and then how so ETF is an exchange 555 00:28:15,640 --> 00:28:18,960 Speaker 8: traded fund, So it's basically this is this is so 556 00:28:19,000 --> 00:28:20,639 Speaker 8: all my people tell me, like I just had the 557 00:28:20,680 --> 00:28:22,680 Speaker 8: dopest analogies, bro, Like I come up with them because 558 00:28:22,680 --> 00:28:25,240 Speaker 8: I love to relate to people. Right, So ETF is 559 00:28:25,280 --> 00:28:27,560 Speaker 8: like saying this without even getting technical. Let's say you're 560 00:28:27,560 --> 00:28:31,920 Speaker 8: going Walmart. Right, You're going Walmart, and you don't know 561 00:28:31,960 --> 00:28:34,479 Speaker 8: what you want to buy, so you buy the whole store. 562 00:28:35,160 --> 00:28:36,880 Speaker 2: That's an index fund. 563 00:28:37,920 --> 00:28:39,880 Speaker 8: Let's say you go to Walmart and you want to 564 00:28:39,880 --> 00:28:43,640 Speaker 8: buy a specific kind of pop tarts. Right, so you 565 00:28:43,680 --> 00:28:45,760 Speaker 8: go to the pop tart our and you see so 566 00:28:45,840 --> 00:28:47,680 Speaker 8: many flavors of pop tarts. You're like, you know what, 567 00:28:47,720 --> 00:28:50,040 Speaker 8: I just want this whole hour of pop tarts, So 568 00:28:50,080 --> 00:28:51,920 Speaker 8: you buy the whole out of pop tarts. 569 00:28:52,080 --> 00:28:56,080 Speaker 2: That's the ETF. Doesn't make sense. So what the ETF is. 570 00:28:56,480 --> 00:28:59,560 Speaker 8: It's a group of businesses that operate the same or 571 00:28:59,600 --> 00:29:03,480 Speaker 8: self simuli products. Example, you want to invest in marijuana, 572 00:29:03,800 --> 00:29:06,160 Speaker 8: but you don't know which marijuana stock to buy. You 573 00:29:06,280 --> 00:29:10,000 Speaker 8: buy either a marijuana ETF called YOLO, or you buy 574 00:29:10,160 --> 00:29:11,880 Speaker 8: MJ And now at this point you have. 575 00:29:11,840 --> 00:29:14,560 Speaker 2: All the marijuana stocks. They're all onside. That's an ETF. 576 00:29:14,720 --> 00:29:18,040 Speaker 8: Gotcha A trick to that is this, You can buy 577 00:29:18,160 --> 00:29:21,600 Speaker 8: ETF and because they've already done the homework, because they 578 00:29:21,680 --> 00:29:23,920 Speaker 8: gonna have the best performance stocks in the ETF. At 579 00:29:23,920 --> 00:29:26,120 Speaker 8: that point, you can see you can go to what's 580 00:29:26,160 --> 00:29:29,000 Speaker 8: called ETF dB, which is ETF database. 581 00:29:29,000 --> 00:29:31,200 Speaker 2: I'm giving y'all some game, right, good, Like, you go. 582 00:29:31,160 --> 00:29:34,400 Speaker 8: To ETF database, you put that ETF in and they'll 583 00:29:34,400 --> 00:29:37,560 Speaker 8: tell you every ETF that's in the ETF, and then 584 00:29:37,960 --> 00:29:40,720 Speaker 8: they'll tell you how much of a percentage of that 585 00:29:40,840 --> 00:29:45,200 Speaker 8: ETF is holding that business. So it'll say this ETF 586 00:29:45,520 --> 00:29:49,080 Speaker 8: has fifteen percent of cannopy growth. I mean for every 587 00:29:49,080 --> 00:29:50,960 Speaker 8: dollar you put enough, fifteen percent of that is going 588 00:29:50,960 --> 00:29:54,040 Speaker 8: to cannopy growth. It may have ten percent of Aurora cannabis. 589 00:29:54,040 --> 00:29:57,160 Speaker 8: It may have five percent of chromes. So you can 590 00:29:57,200 --> 00:29:59,440 Speaker 8: literally say, Okay, I don't want to do the homework. 591 00:29:59,480 --> 00:30:02,000 Speaker 8: I want to be I'll go to the ETF, see 592 00:30:02,000 --> 00:30:03,920 Speaker 8: what's one they hold, and just pick the top companies 593 00:30:03,920 --> 00:30:06,080 Speaker 8: in the ETF. And at that point you went, Now, 594 00:30:06,080 --> 00:30:08,000 Speaker 8: you don't know the value of it. That's why that's 595 00:30:08,000 --> 00:30:10,200 Speaker 8: what I teach people about value, how to value it. 596 00:30:10,360 --> 00:30:12,000 Speaker 8: But if you just want to be a lazy investor, 597 00:30:12,040 --> 00:30:13,959 Speaker 8: you can all you can just do that because ETF 598 00:30:14,000 --> 00:30:16,640 Speaker 8: is gonna have the top performing businesses in that sector 599 00:30:16,840 --> 00:30:18,520 Speaker 8: inside the ETF, and you just picked. 600 00:30:18,360 --> 00:30:20,960 Speaker 5: That and indexed funds. 601 00:30:21,200 --> 00:30:24,440 Speaker 8: So index funds would be you buying a whole market. 602 00:30:24,760 --> 00:30:28,960 Speaker 8: Now they are broken down different ways. So you can 603 00:30:29,000 --> 00:30:33,000 Speaker 8: buy the Dial Jones, you can buy the S and 604 00:30:33,000 --> 00:30:35,760 Speaker 8: P five hundred, these are indexes as well. Yeah, you 605 00:30:35,760 --> 00:30:37,959 Speaker 8: can buy a Nastak, you can buy the Rustle two thousand, 606 00:30:38,240 --> 00:30:42,000 Speaker 8: which are the full majors. Then you can break it 607 00:30:42,040 --> 00:30:44,240 Speaker 8: down and say, okay, I just want to get a 608 00:30:44,400 --> 00:30:50,320 Speaker 8: large cap ETF. So that's all businesses that have one billion, 609 00:30:50,760 --> 00:30:54,040 Speaker 8: two billion are better, right, so every business in here 610 00:30:54,080 --> 00:30:56,600 Speaker 8: is going to be two billion dollars or better ten billion. 611 00:30:56,600 --> 00:30:59,600 Speaker 8: I'm sorry, ten billion are better. Then you can buy 612 00:30:59,640 --> 00:31:02,680 Speaker 8: a mi cap, which businesses that stop at two billion. 613 00:31:03,240 --> 00:31:05,280 Speaker 8: And then you can buy a small cap, which is 614 00:31:05,280 --> 00:31:08,840 Speaker 8: businesses under two billion, two billion dollars worth under two 615 00:31:08,840 --> 00:31:09,800 Speaker 8: billion dollars market cap. 616 00:31:09,960 --> 00:31:13,960 Speaker 4: Yeah, the market cap, so market capitalization, that's kind of 617 00:31:14,000 --> 00:31:15,840 Speaker 4: how they categorize stop. 618 00:31:15,920 --> 00:31:16,080 Speaker 2: Yeah. 619 00:31:16,240 --> 00:31:18,280 Speaker 4: And I always like the analogy that I use is 620 00:31:18,320 --> 00:31:21,160 Speaker 4: like you have giant cap large cap. 621 00:31:21,600 --> 00:31:25,000 Speaker 5: Those are like you know, giant companies hundred billion better. 622 00:31:25,160 --> 00:31:27,800 Speaker 4: Yeah, Then you have you know, mid cap, then you 623 00:31:27,880 --> 00:31:30,200 Speaker 4: have a small cap, and you have micro cap. So 624 00:31:30,240 --> 00:31:34,120 Speaker 4: the thing is that usually and correct me if I'm wrong. 625 00:31:34,600 --> 00:31:37,600 Speaker 4: The larger the cap, the less volatile, Like it's almost 626 00:31:37,640 --> 00:31:40,480 Speaker 4: impossible for Apple to just fall apart overnight, and they're 627 00:31:40,480 --> 00:31:42,720 Speaker 4: also not going to quad droople over night either, where 628 00:31:42,920 --> 00:31:46,200 Speaker 4: a smaller company, good news can send their stocks skyrocketing, 629 00:31:46,520 --> 00:31:48,960 Speaker 4: but then bad news can bankrupt them. So it's kind 630 00:31:48,960 --> 00:31:52,320 Speaker 4: of like a speedboat and a cruise ship, like a 631 00:31:52,360 --> 00:31:53,200 Speaker 4: we work situation. 632 00:31:55,000 --> 00:31:57,120 Speaker 8: We got to talk about we work. We can talk 633 00:31:57,120 --> 00:32:01,400 Speaker 8: about we work. But that's called beta. What you're talking 634 00:32:01,440 --> 00:32:03,680 Speaker 8: about the volatility. So if you're going to invest in 635 00:32:03,680 --> 00:32:05,440 Speaker 8: the stock, you can look at the beta of it. 636 00:32:05,840 --> 00:32:09,200 Speaker 8: A low beta means it's not volatile. A high beta 637 00:32:09,280 --> 00:32:11,960 Speaker 8: means like Tesla, high beta, high risk. 638 00:32:11,800 --> 00:32:13,280 Speaker 2: High reward, right. 639 00:32:13,360 --> 00:32:18,719 Speaker 8: But McDonald's probably a beta of zero point nine, right, 640 00:32:18,760 --> 00:32:20,920 Speaker 8: So it's not gonna you know, it's not like you're 641 00:32:20,920 --> 00:32:22,680 Speaker 8: not about the week. Up to day, McDonald's is at 642 00:32:22,680 --> 00:32:25,360 Speaker 8: two thirty and tomorrow tomorrow is at one fifty. That's 643 00:32:25,440 --> 00:32:28,680 Speaker 8: not about app But with Tesla you'll wake up today's 644 00:32:28,760 --> 00:32:29,400 Speaker 8: at to fifty. 645 00:32:29,440 --> 00:32:30,280 Speaker 2: Tomorrow you can wake up. 646 00:32:30,360 --> 00:32:33,320 Speaker 8: Is that one to eighty easy, right, So high beta 647 00:32:34,440 --> 00:32:37,480 Speaker 8: and the market cap is just simply this. If I 648 00:32:37,600 --> 00:32:41,080 Speaker 8: have ten shares of my business on the stock market, 649 00:32:41,520 --> 00:32:44,080 Speaker 8: and there were ten dollars a share at that point. 650 00:32:44,120 --> 00:32:46,880 Speaker 8: I have one hundred dollars market cap. So it's how 651 00:32:46,920 --> 00:32:49,840 Speaker 8: many outstanding shares on the market times of stock price, 652 00:32:50,440 --> 00:32:52,600 Speaker 8: that's how much. That's how you can tell what the 653 00:32:52,640 --> 00:32:53,880 Speaker 8: market cap is of a business. 654 00:32:53,880 --> 00:32:55,360 Speaker 5: Can we talk about that? We work situation. 655 00:32:55,520 --> 00:32:56,280 Speaker 2: Let's talk about it. 656 00:32:56,440 --> 00:32:59,760 Speaker 4: So, yeah, if anybody's not familiar, we work was the 657 00:33:00,040 --> 00:33:00,880 Speaker 4: talk of Wall Street. 658 00:33:01,640 --> 00:33:03,480 Speaker 5: It was IPO. They were the most. 659 00:33:03,360 --> 00:33:07,040 Speaker 2: Valuable forty five billions coming in at forty. 660 00:33:06,800 --> 00:33:08,480 Speaker 5: Five something. 661 00:33:09,600 --> 00:33:13,600 Speaker 4: And they fell apart and now they had to withdraw 662 00:33:14,000 --> 00:33:18,320 Speaker 4: their IPO. The CEO got fired, stepped down, step down, 663 00:33:18,720 --> 00:33:20,200 Speaker 4: he lost his billionaire status. 664 00:33:20,280 --> 00:33:23,320 Speaker 2: Yes, so today in a day. 665 00:33:23,960 --> 00:33:25,640 Speaker 4: So a lot of times people see these stories, they 666 00:33:25,680 --> 00:33:27,520 Speaker 4: don't fully understand, like how is this possible? 667 00:33:27,600 --> 00:33:28,960 Speaker 5: Like what's your take on that? 668 00:33:29,400 --> 00:33:33,000 Speaker 8: Well, so shout my people house on the two one six. 669 00:33:33,720 --> 00:33:36,560 Speaker 8: She had me one day, cousin Nita. She hit me 670 00:33:36,560 --> 00:33:39,440 Speaker 8: and she was like travel shout out, it's my heart 671 00:33:39,520 --> 00:33:41,200 Speaker 8: right there. She hit me up on that. 672 00:33:41,280 --> 00:33:43,840 Speaker 2: She was like, trapper man, I won't invest and we 673 00:33:43,840 --> 00:33:47,400 Speaker 2: were I said, oh no, you not know you not. 674 00:33:48,040 --> 00:33:50,240 Speaker 2: She was like why. I was like, man, these people 675 00:33:50,240 --> 00:33:51,080 Speaker 2: don't make money. 676 00:33:51,560 --> 00:33:53,080 Speaker 8: So one of the things I love about the stock 677 00:33:53,160 --> 00:33:55,960 Speaker 8: market is it literally teaches you how to be a 678 00:33:55,960 --> 00:34:00,000 Speaker 8: businessman or a woman because you look at businesses all day. 679 00:34:00,960 --> 00:34:04,000 Speaker 2: Right, so they're not profitable. 680 00:34:04,480 --> 00:34:06,600 Speaker 5: Well, a lot of companies aren't finish off. 681 00:34:06,920 --> 00:34:12,160 Speaker 8: So they aren't profitable and they don't have the revenue 682 00:34:12,239 --> 00:34:14,920 Speaker 8: to back it up. So like, not only aren't they 683 00:34:15,320 --> 00:34:17,719 Speaker 8: so you can actually not be profitable but still have 684 00:34:17,760 --> 00:34:20,880 Speaker 8: a lot of revenue Netflix, you know what I'm saying, 685 00:34:20,880 --> 00:34:25,359 Speaker 8: but Uber or Uber, but they aren't profitable and they 686 00:34:25,360 --> 00:34:29,839 Speaker 8: don't have the revenue coming in. And it's so when 687 00:34:29,840 --> 00:34:32,880 Speaker 8: I invest in the business, I look at this. I 688 00:34:32,960 --> 00:34:37,000 Speaker 8: always looked at the inverse, meaning if something bad happens, 689 00:34:37,840 --> 00:34:40,160 Speaker 8: how likely is it for this stock to fall? 690 00:34:41,200 --> 00:34:42,080 Speaker 2: So we know we work. 691 00:34:42,120 --> 00:34:45,520 Speaker 8: It's based off of entrepreneurial space, right, so they rent 692 00:34:45,560 --> 00:34:48,360 Speaker 8: space to entrepreneurs. So I looked at it like this, 693 00:34:48,560 --> 00:34:52,440 Speaker 8: they already are not profitable if something happens as far 694 00:34:52,480 --> 00:34:57,120 Speaker 8: as recession wise, well, entrepreneurs rather come sit in the 695 00:34:57,200 --> 00:34:59,520 Speaker 8: room at their own house and a table and do 696 00:34:59,600 --> 00:35:02,520 Speaker 8: work and not pay that rent or would they still 697 00:35:02,560 --> 00:35:05,160 Speaker 8: pay that rent? He probably would cut that rent out. 698 00:35:05,200 --> 00:35:08,920 Speaker 8: So that business model isn't to me. It wasn't something 699 00:35:09,000 --> 00:35:13,000 Speaker 8: that has a lot of longevity in it. Now, dude 700 00:35:13,120 --> 00:35:17,880 Speaker 8: was a bad seal with a great idea though, But 701 00:35:18,400 --> 00:35:21,400 Speaker 8: when he got the bread, he just was on some 702 00:35:21,480 --> 00:35:25,480 Speaker 8: wild and he was on he was some party city 703 00:35:26,200 --> 00:35:29,640 Speaker 8: wolf of Wall Street off the butchees. 704 00:35:33,160 --> 00:35:33,680 Speaker 2: I inventioned. 705 00:35:34,560 --> 00:35:37,640 Speaker 8: Yeah, he had a lot going on and he didn't 706 00:35:37,640 --> 00:35:38,799 Speaker 8: want he didn't want up it. 707 00:35:39,160 --> 00:35:41,160 Speaker 2: But once, so this is the thing. 708 00:35:41,320 --> 00:35:44,120 Speaker 8: Once somebody who's a major investor said, yo, I'm pulling 709 00:35:44,120 --> 00:35:47,319 Speaker 8: my bread soft bank, which is up. 710 00:35:47,800 --> 00:35:48,040 Speaker 2: Yeah. 711 00:35:48,080 --> 00:35:49,920 Speaker 8: Once they're like, I'm pulling my bread, you know, like 712 00:35:50,000 --> 00:35:51,759 Speaker 8: do it on the wrong level. He living his life wrong. 713 00:35:52,680 --> 00:35:57,480 Speaker 8: Now other major investors are like, wait a minute, I'm 714 00:35:57,520 --> 00:35:59,680 Speaker 8: gonna pull my bread to that even that ship. 715 00:35:59,800 --> 00:35:59,880 Speaker 1: Ye. 716 00:36:00,239 --> 00:36:02,279 Speaker 2: And so now the people nobody wants to get stuck 717 00:36:02,280 --> 00:36:04,719 Speaker 2: hold in the bag. So the next biggest thing is 718 00:36:04,760 --> 00:36:07,279 Speaker 2: do you gotta go. We don't want you to go, 719 00:36:07,280 --> 00:36:11,359 Speaker 2: but you gotta step down because we need another face. Right. 720 00:36:11,560 --> 00:36:13,480 Speaker 8: And so he was stubborn for a while, like nah, 721 00:36:13,600 --> 00:36:16,360 Speaker 8: because he made the business. You know, it's harf you 722 00:36:16,440 --> 00:36:19,080 Speaker 8: let your baby go, because even if you step down, 723 00:36:19,080 --> 00:36:24,400 Speaker 8: you know what's coming next the ship be thinking. So 724 00:36:24,520 --> 00:36:25,279 Speaker 8: I just thought it was a. 725 00:36:25,239 --> 00:36:28,000 Speaker 2: Bad business as a whole out They get what you 726 00:36:28,040 --> 00:36:28,479 Speaker 2: think about. 727 00:36:29,920 --> 00:36:33,719 Speaker 4: I think that it has potential because there's a lot 728 00:36:33,719 --> 00:36:36,560 Speaker 4: of coworking, is one. 729 00:36:36,800 --> 00:36:41,759 Speaker 5: Yeah, like actualpeak back the night, back there the night. 730 00:36:43,600 --> 00:36:47,040 Speaker 4: It's interesting what you said as far as economic downturn, 731 00:36:47,040 --> 00:36:48,799 Speaker 4: because I was gonna ask you about the recession or 732 00:36:48,880 --> 00:36:51,440 Speaker 4: people saying it's to come to be a recession. It's interesting. 733 00:36:51,480 --> 00:36:53,560 Speaker 4: I never really thought about that from that understand point. 734 00:36:53,560 --> 00:36:55,120 Speaker 4: But it makes a lot of sense as far as 735 00:36:55,160 --> 00:36:57,080 Speaker 4: to say, Okay, if if worst comes the worst, I'll 736 00:36:57,160 --> 00:36:59,600 Speaker 4: just stay in my living room, right, I don't have 737 00:36:59,680 --> 00:37:02,200 Speaker 4: to you know, if you're going to offer you don't 738 00:37:02,239 --> 00:37:04,600 Speaker 4: have to have an office. Nah, if you're doing that 739 00:37:05,040 --> 00:37:08,960 Speaker 4: right because other than like holding meetings which you just pay. 740 00:37:09,320 --> 00:37:13,120 Speaker 3: Zoom yeah or so I'm invested this, it's just not sustainable, right, 741 00:37:13,200 --> 00:37:17,160 Speaker 3: Like I might not have meetings every day of every month. 742 00:37:17,840 --> 00:37:20,160 Speaker 4: I think people are working differently now too. It's kind 743 00:37:20,160 --> 00:37:21,880 Speaker 4: of a whole business model to actually go and like 744 00:37:21,920 --> 00:37:23,399 Speaker 4: I have a office I probably go to like once 745 00:37:23,440 --> 00:37:23,719 Speaker 4: a week. 746 00:37:23,800 --> 00:37:24,160 Speaker 2: Exactly. 747 00:37:25,000 --> 00:37:27,440 Speaker 5: You don't need to physically go into an office. 748 00:37:27,360 --> 00:37:29,320 Speaker 6: Like and you're them once a week. But you know 749 00:37:29,360 --> 00:37:30,600 Speaker 6: what I'm saying, Like, what's the point. 750 00:37:31,000 --> 00:37:33,000 Speaker 8: It's not you may go just to like clear your mind. 751 00:37:34,080 --> 00:37:37,479 Speaker 8: I'm just going, yeah, let me go ahead. But yeah, 752 00:37:37,560 --> 00:37:39,759 Speaker 8: you don't need it, you're right. So that's what that's 753 00:37:39,800 --> 00:37:44,239 Speaker 8: what I thought about it. Now the bad part some 754 00:37:44,520 --> 00:37:48,399 Speaker 8: of some of them are actually profitable. So at that point, 755 00:37:48,480 --> 00:37:51,680 Speaker 8: the whole dynamic of the business changes because if you're 756 00:37:51,719 --> 00:37:55,600 Speaker 8: a profitable business in an economic downturn, So now we're 757 00:37:55,600 --> 00:37:58,680 Speaker 8: gonna tap into something that's deeper called free cash flow. Right, 758 00:37:59,560 --> 00:38:01,399 Speaker 8: So this this is the money that a business has 759 00:38:01,520 --> 00:38:04,520 Speaker 8: that's not attached to anything. So after they pay the 760 00:38:04,640 --> 00:38:06,840 Speaker 8: bills and after they pay everything, they still have this. 761 00:38:07,000 --> 00:38:09,240 Speaker 8: Or Apple is like one of the has the biggest, 762 00:38:11,080 --> 00:38:14,879 Speaker 8: Like yo, they free cast is like crazy million, it's 763 00:38:14,920 --> 00:38:17,960 Speaker 8: like one hundred and ninety billion. So what happens is 764 00:38:18,840 --> 00:38:23,360 Speaker 8: in case of an economic downturn, they still have money 765 00:38:24,440 --> 00:38:29,040 Speaker 8: to keep the business going. If you a profitable business 766 00:38:29,120 --> 00:38:30,880 Speaker 8: and you have a good free cash flow, you can 767 00:38:30,920 --> 00:38:33,719 Speaker 8: still sustain for a given amount of time. 768 00:38:34,480 --> 00:38:37,040 Speaker 2: But if you're a negative all around the board, you're 769 00:38:37,040 --> 00:38:39,560 Speaker 2: going to collapse. And so for me, that's something I 770 00:38:39,640 --> 00:38:40,440 Speaker 2: look for in a business. 771 00:38:40,800 --> 00:38:45,239 Speaker 8: I need you to have a mote, which is a 772 00:38:45,600 --> 00:38:48,799 Speaker 8: competitive advantage, and I need you to have a good 773 00:38:49,680 --> 00:38:50,520 Speaker 8: like free cast floor. 774 00:38:50,560 --> 00:38:51,560 Speaker 2: I need that to be positive. 775 00:38:51,600 --> 00:38:52,800 Speaker 4: So when you look at a business, what are you 776 00:38:52,840 --> 00:38:55,600 Speaker 4: looking at? You're looking at their earning report? Do you like? 777 00:38:56,120 --> 00:38:59,320 Speaker 5: What do you actually look at? How do you evaluate 778 00:38:59,400 --> 00:38:59,920 Speaker 5: what a right? 779 00:39:00,920 --> 00:39:03,759 Speaker 8: So I look for a few things like so it's 780 00:39:03,840 --> 00:39:06,480 Speaker 8: like me looking at a woman no to nobody, like, 781 00:39:06,560 --> 00:39:10,640 Speaker 8: I don't want nobody to say right. So you have 782 00:39:10,880 --> 00:39:16,000 Speaker 8: what you look for, and then you have what's there right, 783 00:39:16,160 --> 00:39:19,640 Speaker 8: and then you ask yourself, how does this fit to 784 00:39:19,760 --> 00:39:20,319 Speaker 8: what I want? 785 00:39:21,160 --> 00:39:22,560 Speaker 2: Right? So what I do is I look at The 786 00:39:22,600 --> 00:39:23,520 Speaker 2: first thing I look at is this. 787 00:39:23,680 --> 00:39:26,520 Speaker 8: I never look at the stock price because the stock 788 00:39:26,560 --> 00:39:29,239 Speaker 8: price is only based on how you and I feel 789 00:39:29,239 --> 00:39:32,279 Speaker 8: about it, right, So first thing I look at who 790 00:39:32,360 --> 00:39:34,439 Speaker 8: running a business? And I put this on my page 791 00:39:34,480 --> 00:39:37,959 Speaker 8: all the time. How a person runs a business tells 792 00:39:38,000 --> 00:39:41,719 Speaker 8: me a lot about the business because if you can't man, 793 00:39:41,800 --> 00:39:43,919 Speaker 8: if you can't run the business, I can't make no money. 794 00:39:44,880 --> 00:39:47,479 Speaker 8: So I'm gonna look at when did you get into 795 00:39:47,480 --> 00:39:50,759 Speaker 8: a position of the CEO? How did the business run 796 00:39:50,840 --> 00:39:53,440 Speaker 8: before you? And what have you done since you got 797 00:39:53,760 --> 00:39:56,960 Speaker 8: taken control of the business. That's first and foremost, So 798 00:39:57,120 --> 00:40:00,279 Speaker 8: I won't look at management first. The next thing I'm 799 00:40:00,280 --> 00:40:04,359 Speaker 8: gonna look at is do you have a competitive EDG right? 800 00:40:04,480 --> 00:40:06,759 Speaker 8: So like, what makes you better than everybody else? What 801 00:40:06,960 --> 00:40:10,760 Speaker 8: makes you sustainable? So, for instance, if you bought Coca Cola, 802 00:40:11,760 --> 00:40:14,560 Speaker 8: so you have to ask yourself this. If you're a 803 00:40:14,680 --> 00:40:20,440 Speaker 8: retail business, what does your shelf domination look like? How 804 00:40:20,520 --> 00:40:25,759 Speaker 8: do you dominate the shells? So if you go into sodas, 805 00:40:26,239 --> 00:40:30,120 Speaker 8: Coca Cola dominates. But if you look at the overall business, 806 00:40:30,400 --> 00:40:34,560 Speaker 8: Pepsi does. Pepsi has more products, But if you look 807 00:40:34,640 --> 00:40:40,840 Speaker 8: in that sheer beverages, Coca Cola dominates. Even when you 808 00:40:40,960 --> 00:40:46,200 Speaker 8: go to a fast food store, they're predominantly coke products. 809 00:40:47,520 --> 00:40:49,960 Speaker 5: One of those things where they coined the names like coke. 810 00:40:49,840 --> 00:40:50,880 Speaker 2: Coke, and. 811 00:40:52,480 --> 00:40:52,800 Speaker 8: Bingo. 812 00:40:53,680 --> 00:40:56,480 Speaker 2: When your name becomes synonymous with something, you have a 813 00:40:56,520 --> 00:40:57,960 Speaker 2: competitive edd We have that conversation. 814 00:40:58,000 --> 00:41:01,160 Speaker 8: It's like dandid Bingo's It's like we can go hold 815 00:41:01,440 --> 00:41:04,640 Speaker 8: that style of shirtolo, even if it's a cost shirt, 816 00:41:04,640 --> 00:41:07,000 Speaker 8: it's a polo shirt exactly. So I'm looking for that 817 00:41:07,120 --> 00:41:10,200 Speaker 8: doable competitive edge and now we're going to tap into earnings. 818 00:41:10,320 --> 00:41:13,799 Speaker 8: So I want to see me, what have you done 819 00:41:13,840 --> 00:41:17,359 Speaker 8: the last eight quarters? Have you beat earnest the last 820 00:41:17,400 --> 00:41:20,640 Speaker 8: eight quarters? Meaning have you made profit the last eight quarters? 821 00:41:20,880 --> 00:41:22,960 Speaker 8: And then I want to look at your free cash flow. 822 00:41:23,440 --> 00:41:25,840 Speaker 8: I want to look at work in capital, which is 823 00:41:28,120 --> 00:41:32,480 Speaker 8: current assets and current liabilities, meaning what you have in 824 00:41:33,000 --> 00:41:35,560 Speaker 8: these next twelve months. So something happening in the next 825 00:41:35,600 --> 00:41:38,800 Speaker 8: twelve months, it's that money positive. If it's negative, we 826 00:41:38,840 --> 00:41:41,360 Speaker 8: got an issue. It's not bad, but we got an issue. 827 00:41:41,680 --> 00:41:43,560 Speaker 8: If it's positive, then I know you can hold it down. 828 00:41:43,640 --> 00:41:45,160 Speaker 8: It's like having money and sale accounty. 829 00:41:45,440 --> 00:41:47,759 Speaker 6: So when you're looking at all these things, are we 830 00:41:47,880 --> 00:41:49,719 Speaker 6: looking what are we looking through publications? 831 00:41:50,040 --> 00:41:52,200 Speaker 2: Are we going to a site like is it like? Yeah? 832 00:41:52,280 --> 00:41:55,920 Speaker 2: So face value. 833 00:41:55,960 --> 00:41:59,160 Speaker 8: You can go to Yahoo finance just face value. You 834 00:41:59,239 --> 00:42:01,720 Speaker 8: go to y'aho find and you can do the numbers. 835 00:42:02,600 --> 00:42:05,120 Speaker 8: If you want to dig deep, you go to that 836 00:42:05,280 --> 00:42:09,600 Speaker 8: company's quarterly report, an annual report. So what happens is 837 00:42:10,520 --> 00:42:12,520 Speaker 8: it's another thing like while I love the stock market, 838 00:42:13,040 --> 00:42:16,640 Speaker 8: if you're a public company, you have to tell people 839 00:42:16,680 --> 00:42:20,040 Speaker 8: what you're doing has to be public. It has to 840 00:42:20,080 --> 00:42:23,279 Speaker 8: be so even your competitors get to see what you're doing. 841 00:42:24,120 --> 00:42:24,719 Speaker 2: So that's what I do. 842 00:42:24,960 --> 00:42:26,960 Speaker 8: Like if I like a business, I won't see what 843 00:42:27,040 --> 00:42:28,880 Speaker 8: the competitors doing, and then I won't see how are 844 00:42:28,920 --> 00:42:30,480 Speaker 8: you at matching up to what they're doing? 845 00:42:30,560 --> 00:42:32,680 Speaker 2: Are you shifting that way right? 846 00:42:32,840 --> 00:42:36,160 Speaker 8: So I won't see are they how are they moving 847 00:42:36,200 --> 00:42:38,640 Speaker 8: to all the future because we know every two years 848 00:42:39,080 --> 00:42:40,360 Speaker 8: the business cycle changes. 849 00:42:40,719 --> 00:42:42,880 Speaker 6: That's why when you hear like on CNBC, it's like, oh, 850 00:42:42,920 --> 00:42:44,240 Speaker 6: their quarterly reports coming. 851 00:42:44,040 --> 00:42:45,520 Speaker 2: In and go into every have too. 852 00:42:45,920 --> 00:42:48,000 Speaker 8: Everybody has to do it. And so if it's a 853 00:42:48,040 --> 00:42:53,000 Speaker 8: dividend paying company, are you increasing those? If you increase 854 00:42:53,000 --> 00:42:55,840 Speaker 8: from those, that mean you have some profitability, because no 855 00:42:56,000 --> 00:42:59,759 Speaker 8: business can consistently increase paying me more money if they 856 00:42:59,800 --> 00:43:00,520 Speaker 8: don't have money. 857 00:43:01,719 --> 00:43:03,240 Speaker 5: Soot about the education? 858 00:43:03,280 --> 00:43:04,239 Speaker 2: Am I going to d right now? 859 00:43:04,280 --> 00:43:04,320 Speaker 6: No? 860 00:43:04,880 --> 00:43:07,759 Speaker 5: Man, perfect. 861 00:43:09,480 --> 00:43:14,279 Speaker 7: My graduates from my school being forced bad drop bag 862 00:43:14,440 --> 00:43:17,759 Speaker 7: drop my drop bad drop drop. 863 00:43:28,320 --> 00:43:32,160 Speaker 1: You just realized your business needed to hire someone yesterday. 864 00:43:32,719 --> 00:43:36,879 Speaker 1: How can you find amazing candidates fast? Easy? 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