1
00:00:00,360 --> 00:00:01,120
Speaker 1: Earners. What's up.

2
00:00:01,200 --> 00:00:03,680
Speaker 2: You ever walk into a small business and everything just

3
00:00:03,840 --> 00:00:07,000
Speaker 2: works like the checkout is fast, their seats are digital,

4
00:00:07,520 --> 00:00:10,520
Speaker 2: tipping is a breeze, and you're out the door before

5
00:00:10,520 --> 00:00:14,680
Speaker 2: the line even builds odds are they're using Square. We

6
00:00:14,840 --> 00:00:17,400
Speaker 2: love supporting businesses that run on Square because it just

7
00:00:17,400 --> 00:00:20,640
Speaker 2: feels seamless. Whether it's a local coffee shop, a vendor

8
00:00:20,680 --> 00:00:22,960
Speaker 2: at a pop up market, or even one of our

9
00:00:23,000 --> 00:00:26,680
Speaker 2: merch partners. Square makes it easy for them to take payments,

10
00:00:26,880 --> 00:00:30,639
Speaker 2: manage inventory, and run their business with confidence, all from

11
00:00:30,720 --> 00:00:33,520
Speaker 2: one simple system. One of the things we love most

12
00:00:33,600 --> 00:00:37,480
Speaker 2: is seeing neighborhood businesses level up. Business West Indian spired

13
00:00:37,520 --> 00:00:40,560
Speaker 2: writing our community that started with a small takeout counter.

14
00:00:41,000 --> 00:00:43,680
Speaker 2: Now with Square, they've been able to expand into a

15
00:00:43,720 --> 00:00:47,400
Speaker 2: full sit down restaurant and even started catering events across

16
00:00:47,479 --> 00:00:50,440
Speaker 2: the city. That's the kind of growth that aspires us,

17
00:00:50,680 --> 00:00:53,880
Speaker 2: and it's powered by Square. Square is built for all

18
00:00:53,920 --> 00:00:56,920
Speaker 2: types of businesses, from the corner bagel shop that turned

19
00:00:56,960 --> 00:00:59,920
Speaker 2: into a local chain, to the specialty market with that

20
00:01:00,000 --> 00:01:03,000
Speaker 2: thousands of unique items, to the stylists who's been holding

21
00:01:03,040 --> 00:01:05,920
Speaker 2: you down for years. If you're a business owner or

22
00:01:06,000 --> 00:01:09,679
Speaker 2: even just thinking about launching something soon. Square is hands

23
00:01:09,720 --> 00:01:11,640
Speaker 2: down one of the best tooes out there to help

24
00:01:11,680 --> 00:01:15,480
Speaker 2: you start, run and grow. It's not just about payments,

25
00:01:15,800 --> 00:01:18,440
Speaker 2: it's about giving you time back so you can focus

26
00:01:18,440 --> 00:01:21,160
Speaker 2: on what matters most ready. To see how Square can

27
00:01:21,200 --> 00:01:25,960
Speaker 2: transform your business, visit Square dot com backslash go backslash

28
00:01:26,080 --> 00:01:30,240
Speaker 2: eyl to learn more that Square dot com backslash, go

29
00:01:30,720 --> 00:01:34,880
Speaker 2: backslash eyl. Don't wait, don't hesitate. Let's Square handle the

30
00:01:34,920 --> 00:01:37,440
Speaker 2: back end so you can keep pushing your vision forward.

31
00:01:38,080 --> 00:01:42,280
Speaker 3: So let's start it off with trading question Futures trading

32
00:01:42,319 --> 00:01:42,840
Speaker 3: tip of the week.

33
00:01:46,040 --> 00:01:48,559
Speaker 1: After all, the trading tournament just end of this week.

34
00:01:48,840 --> 00:01:51,920
Speaker 1: Oh man, talk to us, talk to us.

35
00:01:51,920 --> 00:01:54,000
Speaker 4: I'm proud of you'all of who made the top twenty five.

36
00:01:54,480 --> 00:01:58,360
Speaker 4: The live trading tournament will start January fifth, So I

37
00:01:58,440 --> 00:02:00,520
Speaker 4: want the volume to pick back up and that win

38
00:02:00,560 --> 00:02:01,919
Speaker 4: it would get fifty thousand dollars.

39
00:02:02,000 --> 00:02:03,840
Speaker 1: But my trading tip of the week.

40
00:02:05,080 --> 00:02:09,079
Speaker 4: Is that you have to give your trades room to breathe. Now,

41
00:02:09,080 --> 00:02:11,600
Speaker 4: some people in the tournament hated the fact that some

42
00:02:11,639 --> 00:02:14,079
Speaker 4: people were just going long and they were adjusting their stops.

43
00:02:14,720 --> 00:02:17,000
Speaker 4: But please write this down. You need to use your

44
00:02:17,000 --> 00:02:21,680
Speaker 4: big targets on big days. If that boy Pile speaks,

45
00:02:22,560 --> 00:02:24,919
Speaker 4: usually the market is going to move one way or another,

46
00:02:24,960 --> 00:02:28,080
Speaker 4: and sometimes you're going to be able to hit a

47
00:02:28,120 --> 00:02:29,040
Speaker 4: monthly goal.

48
00:02:28,840 --> 00:02:30,840
Speaker 1: Inside of a day time.

49
00:02:30,880 --> 00:02:33,960
Speaker 4: Your trades right to be able to take advantage of

50
00:02:33,960 --> 00:02:36,440
Speaker 4: those and use your long targets on days in which

51
00:02:36,480 --> 00:02:39,680
Speaker 4: rate cuts could happen, or non farm payroll or certain

52
00:02:39,760 --> 00:02:41,160
Speaker 4: report days.

53
00:02:41,280 --> 00:02:45,280
Speaker 1: So weaponize and use your long targets when the market

54
00:02:45,320 --> 00:02:46,320
Speaker 1: is going to move in your favor.

55
00:02:48,400 --> 00:02:48,800
Speaker 3: Okay.

56
00:02:49,000 --> 00:02:52,160
Speaker 1: And you can also use polymarket to understand where something

57
00:02:52,200 --> 00:02:52,520
Speaker 1: could go.

58
00:02:53,680 --> 00:02:56,880
Speaker 2: That was an interesting insight, right, like using that predictive

59
00:02:56,919 --> 00:03:01,400
Speaker 2: market to actually go inside of derivative market and use

60
00:03:01,400 --> 00:03:02,440
Speaker 2: that as an additional tool.

61
00:03:03,680 --> 00:03:07,119
Speaker 4: So because robinhood is going weaponize it next year, yeah,

62
00:03:07,639 --> 00:03:14,240
Speaker 4: I mean you can do all for sure, yeah, legend okay.

63
00:03:14,840 --> 00:03:16,679
Speaker 3: And I thought it was interesting too when he talked

64
00:03:16,680 --> 00:03:20,520
Speaker 3: when Vlad talked about there's sports wagering that they have

65
00:03:20,639 --> 00:03:22,440
Speaker 3: on their platform, and he said a lot of future

66
00:03:22,480 --> 00:03:26,040
Speaker 3: traders and other traders, but he's like future traders are

67
00:03:26,040 --> 00:03:29,160
Speaker 3: getting into it. And anybody that did not watch the interview,

68
00:03:29,760 --> 00:03:31,640
Speaker 3: you know, that's one of the features that Robinhood has

69
00:03:31,680 --> 00:03:35,160
Speaker 3: on their platform is sports wagering, which is essentially like

70
00:03:35,280 --> 00:03:37,600
Speaker 3: it's like trading contracts in the middle of a sports

71
00:03:37,600 --> 00:03:38,320
Speaker 3: game in real time.

72
00:03:38,360 --> 00:03:38,760
Speaker 1: You can trade.

73
00:03:38,760 --> 00:03:43,760
Speaker 3: It's a little bit more advanced in sports gambling. And

74
00:03:44,280 --> 00:03:46,680
Speaker 3: I was just saying, like, you know, as far as gambling,

75
00:03:46,800 --> 00:03:49,640
Speaker 3: you know, he was saying like, well, if you really

76
00:03:49,640 --> 00:03:52,960
Speaker 3: look at the futures market, what does somebody in Cleveland, Ohio,

77
00:03:53,120 --> 00:03:56,680
Speaker 3: really have to do with corn future price.

78
00:03:56,640 --> 00:04:02,240
Speaker 4: Order s and p or we playedium, Yeah, little to

79
00:04:02,280 --> 00:04:02,800
Speaker 4: no impact.

80
00:04:02,840 --> 00:04:04,640
Speaker 3: So he drew. He drew a very he drew like

81
00:04:04,640 --> 00:04:10,640
Speaker 3: a comparison from futures trading to the sports wagering that

82
00:04:10,680 --> 00:04:13,200
Speaker 3: they have now. So it's it's interesting as far as markets.

83
00:04:13,200 --> 00:04:14,680
Speaker 3: But you said a lot of people, a lot of

84
00:04:14,760 --> 00:04:18,960
Speaker 3: traders from the futures market and other markets are coming

85
00:04:19,000 --> 00:04:21,440
Speaker 3: into the sports wagering market.

86
00:04:22,760 --> 00:04:24,440
Speaker 4: Did you get any insight if they're going to have

87
00:04:24,560 --> 00:04:28,479
Speaker 4: a different chartering than poly market.

88
00:04:32,040 --> 00:04:37,760
Speaker 2: Uh, I can't speak on that just yet. A few

89
00:04:37,760 --> 00:04:42,320
Speaker 2: other things you can't speak on just yet. Taxingist, yes, yeah,

90
00:04:42,320 --> 00:04:46,200
Speaker 2: but Robin Hood and uh we talked about it being

91
00:04:46,279 --> 00:04:48,200
Speaker 2: him being the CEO of d A last year. It

92
00:04:48,279 --> 00:04:50,200
Speaker 2: is one of those companies that's had an amazing year

93
00:04:50,960 --> 00:04:53,640
Speaker 2: and from the things that we heard, I think growth

94
00:04:54,560 --> 00:04:57,440
Speaker 2: is still on the horizon for them. Sure that's fair

95
00:04:57,480 --> 00:04:57,760
Speaker 2: to say.

96
00:04:58,160 --> 00:05:00,200
Speaker 3: Okay, what's one of the biggest mistake young in just

97
00:05:00,400 --> 00:05:03,200
Speaker 3: make when they chase fast wins instead of building wealth over.

98
00:05:03,160 --> 00:05:06,599
Speaker 1: Tell giving up wealth. I want to be very clear.

99
00:05:07,200 --> 00:05:12,400
Speaker 4: I know it's funnier to chase meme stocks and potential

100
00:05:12,720 --> 00:05:15,839
Speaker 4: quantum stocks like IO n Q, no shade.

101
00:05:15,520 --> 00:05:18,880
Speaker 1: To them, but you're giving up your future.

102
00:05:18,960 --> 00:05:22,440
Speaker 4: Literally if we go back since the inception of the show,

103
00:05:22,600 --> 00:05:25,560
Speaker 4: back to twenty twenty one or the twenty twenty.

104
00:05:25,240 --> 00:05:26,080
Speaker 1: Two drop.

105
00:05:27,600 --> 00:05:30,159
Speaker 4: Generational wealth we I know the term gets thrown around

106
00:05:30,200 --> 00:05:33,840
Speaker 4: so much, but those were chances to actually build it.

107
00:05:33,880 --> 00:05:38,760
Speaker 4: And I think chasing a fast win builds bad habits.

108
00:05:39,279 --> 00:05:40,839
Speaker 4: And even if you do win, I've known people that

109
00:05:40,839 --> 00:05:42,880
Speaker 4: have made two three hundred thousand off of let's let's

110
00:05:42,920 --> 00:05:46,120
Speaker 4: say game stop, and they think because they had that

111
00:05:46,240 --> 00:05:48,279
Speaker 4: one win and game stop is going to apply to

112
00:05:48,320 --> 00:05:50,479
Speaker 4: every other meme stop for shot. You made the post

113
00:05:50,480 --> 00:05:53,880
Speaker 4: about NFTs everyone killed me a few years ago, and

114
00:05:53,920 --> 00:05:57,280
Speaker 4: I'm like, NFTs are garbage, and here we are there

115
00:05:57,320 --> 00:05:58,479
Speaker 4: worths virtually nothing.

116
00:05:58,560 --> 00:06:00,600
Speaker 1: So I think a lot of the things.

117
00:06:00,480 --> 00:06:04,159
Speaker 4: We want wealth we say that we want, but we

118
00:06:04,200 --> 00:06:06,120
Speaker 4: aren't willing to build them slowly. And if you don't,

119
00:06:06,160 --> 00:06:09,040
Speaker 4: that is a huge mistake for chasing a fast win

120
00:06:09,279 --> 00:06:10,640
Speaker 4: ends up usually leading to the.

121
00:06:10,600 --> 00:06:13,400
Speaker 1: K I summed that up.

122
00:06:13,440 --> 00:06:15,560
Speaker 2: I just put just being undisciplined and not respecting the

123
00:06:15,560 --> 00:06:16,360
Speaker 2: market or money.

124
00:06:16,600 --> 00:06:17,080
Speaker 1: Yeah.

125
00:06:17,200 --> 00:06:21,159
Speaker 2: I think those those two things people forget because they

126
00:06:21,279 --> 00:06:23,000
Speaker 2: feel like the word fast money.

127
00:06:23,000 --> 00:06:25,120
Speaker 1: But always so what speed can come error?

128
00:06:25,920 --> 00:06:27,880
Speaker 2: Right, because you're doing things and a haste and you're

129
00:06:27,880 --> 00:06:30,359
Speaker 2: trying to have this immediate outcome, and you tend to

130
00:06:30,360 --> 00:06:33,200
Speaker 2: make mistakes in that. And I'm speaking from experience because

131
00:06:33,240 --> 00:06:35,640
Speaker 2: I've done that. I've been in a space where it's like, oh,

132
00:06:35,640 --> 00:06:36,880
Speaker 2: I got to do this, I got to do this.

133
00:06:37,320 --> 00:06:38,240
Speaker 1: Well, I made a mistake.

134
00:06:38,600 --> 00:06:41,760
Speaker 2: I put sell to open, not sell the little thing

135
00:06:41,880 --> 00:06:46,040
Speaker 2: little I forgot, especially in an obserctrating, Oh I didn't

136
00:06:46,040 --> 00:06:48,239
Speaker 2: mean to click market. I meant to put my limit,

137
00:06:48,320 --> 00:06:50,280
Speaker 2: and now I got the market price, and now when

138
00:06:50,279 --> 00:06:52,640
Speaker 2: I bought it, I'm down five percent. It's the little

139
00:06:52,680 --> 00:06:55,120
Speaker 2: things that you do when you're doing things fast and

140
00:06:55,160 --> 00:06:57,960
Speaker 2: you're trying to get these calls in or get your

141
00:06:57,960 --> 00:07:01,440
Speaker 2: future traders in write these pips, you'll make mistakes and

142
00:07:01,480 --> 00:07:04,720
Speaker 2: so with speed comes era you lose discipline when you

143
00:07:04,760 --> 00:07:07,080
Speaker 2: do things like that, So that that would be the

144
00:07:07,120 --> 00:07:08,720
Speaker 2: thing that I see most and I see it now,

145
00:07:08,800 --> 00:07:11,440
Speaker 2: especially when the market is up. People are chasing. They're

146
00:07:11,440 --> 00:07:13,720
Speaker 2: losing discipline. Shout the money. I bought to Mike earlier

147
00:07:14,320 --> 00:07:17,640
Speaker 2: in his trading journey, and before we got here, he

148
00:07:17,720 --> 00:07:18,400
Speaker 2: told me he has.

149
00:07:18,320 --> 00:07:19,040
Speaker 1: A new strategy.

150
00:07:19,120 --> 00:07:23,000
Speaker 2: I'm like, oh, I'm glad you're here right Like, I say, like,

151
00:07:23,040 --> 00:07:24,960
Speaker 2: what is the exit before you enter it?

152
00:07:25,400 --> 00:07:28,840
Speaker 1: Position? He now has that. I'm like, perfect, ilad.

153
00:07:28,880 --> 00:07:30,640
Speaker 2: It took a lot a while for us to get here,

154
00:07:30,680 --> 00:07:35,280
Speaker 2: but now with staying disciplined, having that plan and respecting

155
00:07:35,320 --> 00:07:37,840
Speaker 2: the market and respecting money, those those are important things.

156
00:07:38,040 --> 00:07:40,800
Speaker 1: And it was funny whatever I go real quick.

157
00:07:41,880 --> 00:07:44,560
Speaker 4: I saw a lot of people criticizing the Michigan coach

158
00:07:44,560 --> 00:07:47,800
Speaker 4: and we'll talk about that on Blackout on Wednesday. But

159
00:07:47,880 --> 00:07:49,760
Speaker 4: a lot of you are making the same mistake that

160
00:07:49,800 --> 00:07:53,960
Speaker 4: he's making. But in your trading life, you're making risky

161
00:07:54,000 --> 00:07:56,960
Speaker 4: ass bets that are going to cost your financial future.

162
00:07:57,840 --> 00:08:00,320
Speaker 4: The market just hasn't blown you up yet. So for

163
00:08:00,360 --> 00:08:03,480
Speaker 4: the people that are trading with too much leverage, too

164
00:08:03,600 --> 00:08:06,480
Speaker 4: much size, or you've gotten away with three or four

165
00:08:07,320 --> 00:08:10,680
Speaker 4: investments that are risky and you thought was going to

166
00:08:10,720 --> 00:08:13,240
Speaker 4: be the new in video or the new AMD and

167
00:08:13,240 --> 00:08:17,320
Speaker 4: then they're falling apart. Like, don't criticize someone's mistake because

168
00:08:17,360 --> 00:08:19,440
Speaker 4: yours hasn't been exposed yet. But I'm telling you, over

169
00:08:19,440 --> 00:08:22,000
Speaker 4: the next year, you're going to have to double down

170
00:08:22,040 --> 00:08:23,960
Speaker 4: on companies that are incredibly solid with.

171
00:08:24,160 --> 00:08:27,160
Speaker 1: High profit margins that are going to move the GDP.

172
00:08:27,400 --> 00:08:30,560
Speaker 4: Like that era of betting on risk or being risk going,

173
00:08:31,200 --> 00:08:32,839
Speaker 4: that's going to go away in January.

174
00:08:33,720 --> 00:08:36,360
Speaker 1: It's overwhere I think that there's something to that.

175
00:08:36,559 --> 00:08:39,319
Speaker 2: It's like we've seen a lot of times people will

176
00:08:39,360 --> 00:08:43,200
Speaker 2: just invest by hearsay. That also goes on being undisciplined, right,

177
00:08:43,240 --> 00:08:45,040
Speaker 2: Like I'm just doing it because I saw that stock

178
00:08:45,080 --> 00:08:47,320
Speaker 2: go up seventeen percent, or I saw it going up

179
00:08:47,360 --> 00:08:49,880
Speaker 2: thirty percent, not having a firm understanding of what that

180
00:08:49,960 --> 00:08:52,680
Speaker 2: stock is, what the sector is, what the company actually does.

181
00:08:53,080 --> 00:08:55,120
Speaker 2: None of the things that we always talk about, right

182
00:08:55,120 --> 00:08:57,200
Speaker 2: like who's the see We don't know anything. We just

183
00:08:57,280 --> 00:08:59,280
Speaker 2: know that the price went up, and if the price

184
00:08:59,320 --> 00:09:01,319
Speaker 2: went up, it'll probably go up tomorrow or maybe in

185
00:09:01,320 --> 00:09:03,319
Speaker 2: a month of well, or I keep hearing people talk

186
00:09:03,360 --> 00:09:05,480
Speaker 2: about it, so it must be a good start and

187
00:09:05,679 --> 00:09:08,040
Speaker 2: just investing off of here saying that goes into the

188
00:09:08,120 --> 00:09:10,760
Speaker 2: lack of discipline. We also at least understand what you're

189
00:09:10,760 --> 00:09:12,960
Speaker 2: invested in. I can't say there's a company that invested

190
00:09:12,960 --> 00:09:14,360
Speaker 2: in that. I don't know what they do, who the

191
00:09:14,440 --> 00:09:18,040
Speaker 2: CEO is, and what their purpose is inside of the market,

192
00:09:18,440 --> 00:09:19,040
Speaker 2: or at least.

193
00:09:19,000 --> 00:09:21,160
Speaker 4: Know your exit, Like I got a lot of messages

194
00:09:21,200 --> 00:09:23,640
Speaker 4: today when the market was pulling back, and what about

195
00:09:23,679 --> 00:09:26,600
Speaker 4: our own que. You shouldn't have to rely on somebody

196
00:09:26,600 --> 00:09:31,400
Speaker 4: else for entries and exits if you've already planned where

197
00:09:31,440 --> 00:09:33,800
Speaker 4: to exit properly, are going to be clear that the

198
00:09:33,800 --> 00:09:37,960
Speaker 4: hospital year are done? There in there's no Christmas rally

199
00:09:38,120 --> 00:09:40,720
Speaker 4: this year. You should have got your games from post April.

200
00:09:42,679 --> 00:09:43,360
Speaker 1: Yeah, for sure.

201
00:09:43,480 --> 00:09:47,960
Speaker 3: All about profit, Well, we never had any land in

202
00:09:47,960 --> 00:09:51,000
Speaker 3: the metaverse, but they is. It's something that I saw

203
00:09:51,080 --> 00:09:55,280
Speaker 3: Jeff Beso say that he spoke to Warren Buffett and

204
00:09:55,400 --> 00:09:58,559
Speaker 3: he asked him. He said, look, you your investment philosophy

205
00:09:58,679 --> 00:10:02,199
Speaker 3: is not extremely complicated. Why don't you think more people

206
00:10:02,240 --> 00:10:04,480
Speaker 3: don't just following COPI exactly what you do as far

207
00:10:04,520 --> 00:10:07,520
Speaker 3: as investing, because it's pretty much open source, he said,

208
00:10:07,760 --> 00:10:11,680
Speaker 3: because my philosophy is to get rich slow, and he said,

209
00:10:11,720 --> 00:10:16,160
Speaker 3: nobody wants to get rich slow, So that's why a

210
00:10:16,160 --> 00:10:18,080
Speaker 3: lot of people nobody really copies what I do.

211
00:10:18,760 --> 00:10:19,560
Speaker 1: I think that.

212
00:10:19,400 --> 00:10:22,000
Speaker 3: That was that's insightful as far as you know, everybody's

213
00:10:22,000 --> 00:10:25,360
Speaker 3: always gonna want to try to get rich quick and

214
00:10:25,840 --> 00:10:30,040
Speaker 3: cut corners, and you know, nobody wants to take the

215
00:10:30,120 --> 00:10:33,320
Speaker 3: long road in life. So that's never going to change.

216
00:10:33,480 --> 00:10:34,920
Speaker 3: That's never going to change. It's going to be the

217
00:10:34,960 --> 00:10:36,679
Speaker 3: same to the end of the world.

218
00:10:36,920 --> 00:10:38,959
Speaker 4: But for those of you who are willing to get

219
00:10:39,040 --> 00:10:42,040
Speaker 4: rich slow, oh my god, life will be amazing.

220
00:10:43,320 --> 00:10:45,560
Speaker 2: This episode is brought to you by P and C Bank.

221
00:10:45,960 --> 00:10:48,720
Speaker 2: A lot of people think podcasts about work are boring,

222
00:10:48,960 --> 00:10:52,800
Speaker 2: and sure they definitely can be, but understanding of professionals

223
00:10:52,880 --> 00:10:56,120
Speaker 2: routine shows us how they achieve their success little by little,

224
00:10:56,480 --> 00:11:00,160
Speaker 2: day after day. It's like banking with P and C Bank.

225
00:11:00,600 --> 00:11:03,439
Speaker 2: It might seem boring the safe plan and make calculated

226
00:11:03,440 --> 00:11:06,560
Speaker 2: decisions with your bank, but keeping your money boring is

227
00:11:06,559 --> 00:11:09,880
Speaker 2: what helps you live or more happily fulfilled life. P

228
00:11:10,000 --> 00:11:14,840
Speaker 2: and C Bank Brilliantly Boring since eighteen sixty five. Brilliantly

229
00:11:14,880 --> 00:11:17,520
Speaker 2: Boring since eighteen sixty five is a service mark of

230
00:11:17,559 --> 00:11:20,800
Speaker 2: the PNC Financial Service Group, Inc. P and C Bank

231
00:11:21,240 --> 00:11:23,439
Speaker 2: National Association member FDIC