1 00:00:01,280 --> 00:00:03,520 Speaker 1: This episode is brought to you by P and C Bank. 2 00:00:03,920 --> 00:00:06,680 Speaker 1: A lot of people think podcasts about work are boring, 3 00:00:06,880 --> 00:00:10,719 Speaker 1: and sure they definitely can be, but understanding a professionals 4 00:00:10,800 --> 00:00:14,040 Speaker 1: routine shows us how they achieve their success little by little, 5 00:00:14,440 --> 00:00:18,040 Speaker 1: day after day. It's like banking with P and C Bank. 6 00:00:18,560 --> 00:00:21,360 Speaker 1: It might seem boring to save, plan and make calculated 7 00:00:21,400 --> 00:00:24,479 Speaker 1: decisions with your bank, but keeping your money boring is 8 00:00:24,520 --> 00:00:27,840 Speaker 1: what helps you live or more happily fulfilled life. P 9 00:00:27,960 --> 00:00:32,800 Speaker 1: and C Bank Brilliantly Boring since eighteen sixty five. Brilliantly 10 00:00:32,840 --> 00:00:35,479 Speaker 1: Boring since eighteen sixty five is a service mark of 11 00:00:35,520 --> 00:00:38,760 Speaker 1: the PNC Financial Service Group, Inc. P and C Bank 12 00:00:39,159 --> 00:00:41,360 Speaker 1: National Association Member FDIC. 13 00:00:43,120 --> 00:00:48,360 Speaker 2: What is to tech two Index? On a high level explanation. 14 00:00:48,640 --> 00:00:52,800 Speaker 3: I think that you only need concentration in four companies 15 00:00:53,120 --> 00:00:55,480 Speaker 3: or four assets to make you rich for a lifetime. 16 00:00:56,480 --> 00:01:00,160 Speaker 3: My formulation that I have given to the public made 17 00:01:00,160 --> 00:01:01,240 Speaker 3: you money from tw tech two index. 18 00:01:01,280 --> 00:01:02,200 Speaker 4: Please put us in JET. 19 00:01:02,960 --> 00:01:06,160 Speaker 3: I think that you should have two index funds which 20 00:01:06,959 --> 00:01:10,240 Speaker 3: anchor your portfolio, so if you're missed out in a 21 00:01:10,240 --> 00:01:12,520 Speaker 3: great company, they should be in there. Those tickers are 22 00:01:12,959 --> 00:01:17,800 Speaker 3: VO BTI. The other two slots will go to tech 23 00:01:17,800 --> 00:01:23,280 Speaker 3: companies Microsoft and Apple. Quiz question for everyone what percentage 24 00:01:23,319 --> 00:01:26,520 Speaker 3: of vo O and BTI are tech related in terms 25 00:01:26,560 --> 00:01:31,440 Speaker 3: of portfolio now, however, and it's a tried and true 26 00:01:31,480 --> 00:01:34,360 Speaker 3: methodology for I know Ray Daliol has its all weather 27 00:01:35,040 --> 00:01:37,040 Speaker 3: et cetera. But I think in the era that we're 28 00:01:37,080 --> 00:01:39,319 Speaker 3: moving into hyper concentration, it's going to be to go. 29 00:01:39,360 --> 00:01:41,680 Speaker 3: I've been saying that since twenty eighteen, So I think 30 00:01:41,680 --> 00:01:44,399 Speaker 3: you only really need four great companies to tie your 31 00:01:44,440 --> 00:01:48,840 Speaker 3: wealth to to make easy invest in easy and simple 32 00:01:48,880 --> 00:01:49,120 Speaker 3: for you. 33 00:01:50,680 --> 00:01:53,080 Speaker 2: So would you keep running that strategy through twenty twenty 34 00:01:53,080 --> 00:01:57,200 Speaker 2: seven or pause to stack cash and go all in 35 00:01:57,800 --> 00:01:59,400 Speaker 2: when stock prices go down? 36 00:01:59,680 --> 00:02:02,400 Speaker 3: Evan, At some point, I want to be very clear 37 00:02:03,200 --> 00:02:06,880 Speaker 3: everyone who is waiting for this pristine moment of this 38 00:02:07,000 --> 00:02:10,840 Speaker 3: fifty five percent drop, You're not going to have the 39 00:02:10,919 --> 00:02:15,720 Speaker 3: cojones go almostly these balls to do it when it 40 00:02:15,840 --> 00:02:19,120 Speaker 3: drops forty five or fifty five percent. There's no reason 41 00:02:19,200 --> 00:02:21,480 Speaker 3: to stack money on the side waiting for a crash, 42 00:02:22,280 --> 00:02:25,120 Speaker 3: especially given the return environment. The thing is left out 43 00:02:25,120 --> 00:02:29,519 Speaker 3: of The Big Short, which I loved the movie. They 44 00:02:29,600 --> 00:02:32,560 Speaker 3: weren't in an environment where you can get seven hundred 45 00:02:32,600 --> 00:02:34,400 Speaker 3: percent to the upside. The person just said, there was 46 00:02:34,480 --> 00:02:35,000 Speaker 3: up how much of. 47 00:02:35,040 --> 00:02:37,520 Speaker 4: Micron well. 48 00:02:38,880 --> 00:02:42,120 Speaker 3: Fifty three fifty in two thousand and nine. If you 49 00:02:42,160 --> 00:02:44,360 Speaker 3: were a hedge fund manager, you would be a fucking 50 00:02:44,440 --> 00:02:47,760 Speaker 3: rock star. So for the first time in our history, 51 00:02:47,840 --> 00:02:50,920 Speaker 3: Shot when you were financial advising, could you think of 52 00:02:51,000 --> 00:02:53,680 Speaker 3: five companies that was getting four hundred percent return in 53 00:02:53,720 --> 00:02:57,280 Speaker 3: two years? It was damn near nonex like a penny stock. 54 00:02:57,320 --> 00:02:59,080 Speaker 3: And it may last for two or three weeks. 55 00:02:59,080 --> 00:03:00,040 Speaker 4: But with in video. 56 00:03:01,440 --> 00:03:06,160 Speaker 3: Microsoft, the tear that they've been on Bitcoin, you don't. 57 00:03:05,800 --> 00:03:07,919 Speaker 4: Have to wait for a historic drop to be able 58 00:03:07,919 --> 00:03:08,399 Speaker 4: to get rich. 59 00:03:08,520 --> 00:03:10,880 Speaker 3: I do want to say, though, when the move does 60 00:03:10,919 --> 00:03:13,079 Speaker 3: come in twenty twenty seven, should you have capital to 61 00:03:13,120 --> 00:03:13,520 Speaker 3: the side. 62 00:03:13,880 --> 00:03:17,200 Speaker 4: Yes. Should you stop investing now through twenty seven to 63 00:03:17,360 --> 00:03:19,840 Speaker 4: take advantage of the move? Absolutely not. It's going to 64 00:03:19,880 --> 00:03:21,360 Speaker 4: be one of the worst decisions in your life. 65 00:03:21,400 --> 00:03:25,040 Speaker 3: And the crazy part is I haven't talked about it, 66 00:03:25,080 --> 00:03:27,120 Speaker 3: but in twenty twenty seven, certain companies are going to 67 00:03:27,160 --> 00:03:30,080 Speaker 3: melt up. There are going to be some companies that 68 00:03:30,120 --> 00:03:34,400 Speaker 3: are so valuable that the economy is tied to that 69 00:03:34,520 --> 00:03:36,560 Speaker 3: the value of them are going to fly up as 70 00:03:36,600 --> 00:03:39,200 Speaker 3: the market tanks because it's the only store of value 71 00:03:39,240 --> 00:03:42,280 Speaker 3: quote unquote on the equity side you can pour money into. 72 00:03:42,880 --> 00:03:43,400 Speaker 4: Man. 73 00:03:43,600 --> 00:03:46,400 Speaker 1: Man, you gotta slow down and say that again, because that, 74 00:03:46,960 --> 00:03:50,760 Speaker 1: like people keep talking about this supposed crash, opposed crash, 75 00:03:50,800 --> 00:03:52,920 Speaker 1: and we talked about that, kind of leaves fear and 76 00:03:52,960 --> 00:03:55,560 Speaker 1: gets emotion into it and people get scared not to invest. 77 00:03:55,840 --> 00:03:57,920 Speaker 1: But when you think about it, right, even in these 78 00:03:57,920 --> 00:04:01,200 Speaker 1: crashes in ninety nine, the dot com bubble, right, there 79 00:04:01,200 --> 00:04:04,360 Speaker 1: were survivors of that. For sure, there were companies that 80 00:04:04,400 --> 00:04:07,360 Speaker 1: thrived in that. Yes, a lot of them disappeared because 81 00:04:07,360 --> 00:04:09,320 Speaker 1: they didn't have any value. And you can kind of 82 00:04:09,320 --> 00:04:10,720 Speaker 1: see the writings on the wall for some of these 83 00:04:10,720 --> 00:04:15,080 Speaker 1: companies that really have no value, right, don't have any 84 00:04:15,080 --> 00:04:16,160 Speaker 1: real fundamentals. 85 00:04:17,000 --> 00:04:21,800 Speaker 4: But then videos of the world, yeah baby, Microsoft and 86 00:04:21,880 --> 00:04:23,880 Speaker 4: open Ai partnership, these. 87 00:04:25,920 --> 00:04:29,000 Speaker 1: And the pullback on that, Like, even if it does 88 00:04:29,040 --> 00:04:35,680 Speaker 1: pull back, right, those companies aren't going anywhere. 89 00:04:35,720 --> 00:04:36,360 Speaker 4: They're not going. 90 00:04:36,720 --> 00:04:39,240 Speaker 3: They are We talked about it yesterday on Stock Club call. 91 00:04:39,960 --> 00:04:42,640 Speaker 3: We are in a war despite some of you YouTuber 92 00:04:42,640 --> 00:04:44,520 Speaker 3: experts say that we're not. We are in a war 93 00:04:44,520 --> 00:04:52,280 Speaker 3: with China. And then video AMD Micron Dell asked, they're 94 00:04:52,320 --> 00:04:56,000 Speaker 3: in a war to fight China. It is our tech 95 00:04:56,040 --> 00:05:01,400 Speaker 3: companies versus the CCP. If we look, the American economy 96 00:05:01,480 --> 00:05:07,880 Speaker 3: is done permanent number two forever me it's over with now. 97 00:05:07,920 --> 00:05:09,880 Speaker 3: If we win, then we get to go on for 98 00:05:09,920 --> 00:05:15,880 Speaker 3: another thirty three years thirty four years of greatness if 99 00:05:15,920 --> 00:05:20,359 Speaker 3: we win that war. Secondly, any investment strategy has to 100 00:05:20,400 --> 00:05:22,920 Speaker 3: work for you for a thirty year period. So when 101 00:05:22,920 --> 00:05:26,000 Speaker 3: people ask, hey, should I change the formula? If you 102 00:05:26,040 --> 00:05:28,560 Speaker 3: are changing your strategy year to year, you don't have 103 00:05:28,600 --> 00:05:30,279 Speaker 3: a good one. There's a reason why in the beginning 104 00:05:30,600 --> 00:05:33,080 Speaker 3: it was two tech, two index and not two indexes 105 00:05:33,080 --> 00:05:36,239 Speaker 3: and two bonds. The bond market is decimated and done. 106 00:05:36,640 --> 00:05:38,400 Speaker 3: Don't change your strategy. 107 00:05:38,800 --> 00:05:39,560 Speaker 4: Earners, what's up? 108 00:05:39,640 --> 00:05:42,120 Speaker 1: You ever walk into a small business and everything just 109 00:05:42,279 --> 00:05:45,440 Speaker 1: works like the checkout is fast, the receipts are digital, 110 00:05:46,000 --> 00:05:48,920 Speaker 1: tipping is a breeze, and you're out the door before 111 00:05:48,960 --> 00:05:53,120 Speaker 1: the line even builds. Odds are they're using Square. We 112 00:05:53,279 --> 00:05:55,840 Speaker 1: love supporting businesses that run on Square because it just 113 00:05:55,880 --> 00:05:59,080 Speaker 1: feels seamless. Whether it's a local coffee shop, a vendor 114 00:05:59,120 --> 00:06:01,400 Speaker 1: at a pop up market, or even one of our 115 00:06:01,480 --> 00:06:05,120 Speaker 1: merch partners. Square makes it easy for them to take payments, 116 00:06:05,320 --> 00:06:09,080 Speaker 1: manage inventory, and run their business with confidence, all from 117 00:06:09,160 --> 00:06:11,960 Speaker 1: one simple system. One of the things we love most 118 00:06:12,040 --> 00:06:15,960 Speaker 1: is seeing neighborhood businesses level up. Business West Indians spired 119 00:06:15,960 --> 00:06:19,000 Speaker 1: writing our community that started with a small takeout counter. 120 00:06:19,440 --> 00:06:22,120 Speaker 1: Now with Square they've been able to expand into a 121 00:06:22,160 --> 00:06:25,839 Speaker 1: full sit down restaurant and even started catering events across 122 00:06:25,920 --> 00:06:28,880 Speaker 1: the city. That's the kind of growth that inspires us, 123 00:06:29,120 --> 00:06:32,360 Speaker 1: and it's powered by Square. Square is built for all 124 00:06:32,400 --> 00:06:35,359 Speaker 1: types of businesses, from the corner bagel shop that turned 125 00:06:35,400 --> 00:06:38,760 Speaker 1: into a local chain, to the specialty market with thousands 126 00:06:38,800 --> 00:06:41,600 Speaker 1: of unique items, to the stylists who's been holding you 127 00:06:41,680 --> 00:06:44,719 Speaker 1: down for years. If you're a business owner or even 128 00:06:44,839 --> 00:06:48,360 Speaker 1: just thinking about launching something soon, Square is hands down 129 00:06:48,360 --> 00:06:50,720 Speaker 1: one of the best tools out there to help you start, 130 00:06:51,120 --> 00:06:54,679 Speaker 1: run and grow. It's not just about payments, it's about 131 00:06:54,680 --> 00:06:57,120 Speaker 1: giving you time back so you can focus on what 132 00:06:57,320 --> 00:07:00,320 Speaker 1: matters most Ready. To see how Square can transfer form 133 00:07:00,360 --> 00:07:04,600 Speaker 1: your business, visit Square dot com backslash, go backslash e 134 00:07:04,800 --> 00:07:08,560 Speaker 1: y l to learn more that Square dot com backslash, 135 00:07:08,600 --> 00:07:12,480 Speaker 1: go backslash e y L. Don't wait, don't hesitate, Let's 136 00:07:12,520 --> 00:07:14,960 Speaker 1: Square handle the back end so you can keep pushing 137 00:07:15,000 --> 00:07:15,880 Speaker 1: your vision forward.