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Speaker 1: After twenty two years of being a Titan on Wall

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Speaker 1: Street and start in his own firm. Tony kasaik is

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Speaker 1: walking away just said the ugly side hooking and only

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Speaker 1: inside We'll interview insiders and other titans of all types

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Speaker 1: of industry, offering advice, sharing stories of it. First, this

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Speaker 1: is another episode the.

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Speaker 2: Inside of Show. Welcome to Cannabis Talk one on one's

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Speaker 2: Financial Fridays with the Inside Investor Tony k We're the

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Speaker 2: world's number one source for everything cannabis.

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Speaker 3: The information provided by Financial Friday and Tony Kasai is

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Speaker 3: for general information entertainment purposes only and should not be

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Speaker 3: considered as professional financial advice. Consult with the professional before

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Speaker 3: making any financial decisions. YO.

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Speaker 4: I don't know where you are, what you're doing, or

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Speaker 4: what day the week it is for you, But over

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Speaker 4: here at the CEE two one to one, iHeart studios,

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Speaker 4: ladies and gentlemen, it is Financial Fridays for us. I'm

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Speaker 4: Tony ka You're Insider Investor. I'm here to get your

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Speaker 4: mind right and your money game tight. You're hearing me

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Speaker 4: on the world famous seat. We're now heard in over

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Speaker 4: one hundred and eighty three countries. Guys as super exciting.

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Speaker 4: Feel free to leave me a financial question anytime at

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Speaker 4: one eight hundred.

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Speaker 5: And four to twenty, nineteen eighty.

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Speaker 4: You can always find me on Instagram at the Insider Investor.

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Speaker 4: You can also follow the show on YouTube at Cannabis

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Speaker 4: Talk one on one. You guys, make sure to follow

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Speaker 4: subscribe show.

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Speaker 5: With some love. That's how we stay on the air.

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Speaker 4: Now, you guys know, I created Financial Fridays because after

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Speaker 4: twenty years of being a Wall Street insider, I got

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Speaker 4: sick and tired of the little guy getting screwed over.

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Speaker 5: Of course, you know what I want to do.

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Speaker 4: I want to let you know what's been in my

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Speaker 4: head for over twenty years, and sometimes bring on my

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Speaker 4: special guest to kind of let you know what's going

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Speaker 4: on by being an insider in their industries. Of course,

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Speaker 4: you know, my number one roll of money is that

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Speaker 4: your finances and your taxes should not be in an

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Speaker 4: April concern. That's why I always like to talk about

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Speaker 4: my friends over at Easier Accounting Easier Accounting. Their name

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Speaker 4: is in the company Guys Easier Accounting dot com. What

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Speaker 4: these guys do is they help you with company formation.

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Speaker 4: If you're a startup, you're an established company cash flow projections.

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Speaker 4: Of course you're tax planning. But the secret to taxes, guys,

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Speaker 4: is that it should be a year round concern. Taxes

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Speaker 4: should not be something that you just deal with right

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Speaker 4: around April or October. If your company so again, have

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Speaker 4: a tax strategist, and you know what the secret to

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Speaker 4: money is, Connor, tell me, Tony, it's not how much

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Speaker 4: money you make, it's how much money you keep.

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Speaker 5: And you want to keep as.

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Speaker 4: Much money as you can legally in your pockets. Reach

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Speaker 4: out to them easier accounting guys with our phone numbers

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Speaker 4: eight eight eight six twenty zero seven seven zero.

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Speaker 5: Let him know I sent you now today on Financial

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Speaker 5: Did you hear that squeak in my voice?

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Speaker 6: Yeah, you're just excited.

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Speaker 5: What's going up? Going well?

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Speaker 4: Guys, Look, today's special day because I get to bring

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Speaker 4: on a good friend of mine. You guys have heard

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Speaker 4: him on the show. You've heard him on the content

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Speaker 4: shows on CTU Want to Won the flagship show. Connor

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Speaker 4: is not only our sound engineer, not only is he

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Speaker 4: a superstar at the studio, but he's one of the

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Speaker 4: young bucks that I love to get advice on. I

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Speaker 4: like to tap in. What the youth are listening to

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Speaker 4: what are you like? Fifteen sixty now? Now Connor is

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Speaker 4: a few years younger than me, but the dudes tapped

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Speaker 4: into the stock market. When I have a fun fact,

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Speaker 4: he always has all the background on it, And if

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Speaker 4: you guys watch the show, he's always in the background

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Speaker 4: kind of pulling up the relevant slides. So I like

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Speaker 4: to kind of bounce ideas off of him, etc. And today, guys.

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Speaker 4: Last week I got a lot of feedback from everybody.

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Speaker 4: I made a short little story post talking about when

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Speaker 4: the market went down. You remember when it was down

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Speaker 4: like nine hundred points in one day, Yes, And I

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Speaker 4: think that was on a Friday. It ended up being

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Speaker 4: one of the worst days on the stock market in

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Speaker 4: a long time over in Japan.

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Speaker 5: It kind of led there the nick or niki or

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Speaker 5: however you want to say.

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Speaker 4: It had dropped dramatically, and we did that on a Friday,

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Speaker 4: and I talked about how you know, you can protect

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Speaker 4: your money, you can move into cash.

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Speaker 5: But I wanted to kind of elaborate on that.

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Speaker 4: A little bit, because if you are invested in the

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Speaker 4: stock market, this should you should not be run by emotion,

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Speaker 4: and there's cycles in the stock market and there's ups

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Speaker 4: and downs obviously, so there's ways to protect yourself. So

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Speaker 4: today I wanted to dedicate today's show to not just

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Speaker 4: talk about what's been going on how you can protect

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Speaker 4: your money, but on the third segment, I'm going to

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Speaker 4: give you guys a very actionable way one of the

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Speaker 4: few things that I really liked, not liked, but strategies

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Speaker 4: I used on Wall Street when I was an advisor

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Speaker 4: that I felt like really helped from the average person

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Speaker 4: and all the way up. I mean some of the

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Speaker 4: biggest money managers world use the same strategy. It's it's nothing,

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Speaker 4: you know, secretive, sexy, But if you just have the

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Speaker 4: discipline to implement it, I guarantee you, I promise you

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Speaker 4: that your portfolio will be a little bit happier. Now,

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Speaker 4: for those of you that are just using this show

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Speaker 4: for information, just soak up the information. But let's get

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Speaker 4: down into the nitty gritty. Now, last week, the last

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Speaker 4: few weeks have been an absolute roller coaster on the market,

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Speaker 4: and there's some things that I want you guys to

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Speaker 4: kind of keep an ear out for. You know what

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Speaker 4: the vix is Connor Vix.

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Speaker 6: Honestly, I need you to put me down on game.

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Speaker 4: Okay, So the VIX, guys, the VIX is stands for

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Speaker 4: volatility index and it's a and I quite honestly, I

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Speaker 4: don't really know how they measure it, but it's a

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Speaker 4: system that's been in place for many years and it's

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Speaker 4: an index. It's a measurable index that they tell you

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Speaker 4: this is the volatility that's been going on in the market, right,

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Speaker 4: And historically the VIX when you have dramatic volatility, when

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Speaker 4: you have peaks in the VIX, it's a sign that

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Speaker 4: you're hitting either the bottom of a bull or a

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Speaker 4: bear market. Bull market being market's going crazy. Bear market

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Speaker 4: means that it's just going through the dumps, right. So

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Speaker 4: back you know, talk about nine eleven, the past couple

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Speaker 4: times we've had a bear market, the index could had

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Speaker 4: shot through through if meaning you're going to have these

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Speaker 4: massive up nine hundred down, nine hundred up, seven hundred down,

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Speaker 4: seven hundred days volatility correct. So that volatility is a

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Speaker 4: what we call a leading indicator of bottoming out on

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Speaker 4: a cycle. So again, if the markets that are an

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Speaker 4: all time high and all of a sudden, the VIX

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Speaker 4: is going through the roof, it's typically a sign that

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Speaker 4: pretty soon you're going to see the top of that market,

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Speaker 4: and you're going to see a very steady decline, and

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Speaker 4: then if the market's at the very bottom, you're going

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Speaker 4: to see the volatility INEX spike again, and you're you're

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Speaker 4: kind of it's an indicator that, hey, I may want

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Speaker 4: a tiptoe back into the market. So it doesn't mean

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Speaker 4: it's going to happen the next day. It's just again

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Speaker 4: the word leading indicator means these are signs that this

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Speaker 4: is going to happen. So I'd argue and chime in.

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Speaker 4: But obviously we're historically it's still close to an all

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Speaker 4: time stock market high. So unless you think the market's

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Speaker 4: going to go by another twenty thirty forty percent over

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Speaker 4: the next twelve months, if you understand historical patterns of

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Speaker 4: vis being volatility, and volatility right now is in an

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Speaker 4: all time high, it's in a two year high, then

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Speaker 4: the argument could be made that you're headed into bear market.

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Speaker 5: Makes sense.

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Speaker 4: Yes, Now, a couple of weird things happen in the

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Speaker 4: past couple of weeks. So you have the two best

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Speaker 4: days and the two worst days in the span of

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Speaker 4: almost ten days. Right literally, we're back up above where

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Speaker 4: I made the video saying, hey, you know, you may

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Speaker 4: want to protect your money. What does that mean? Does

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Speaker 4: that mean that I was wrong? I'm never predictor of

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Speaker 4: the market. If I had a glass ball, I wouldn't

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Speaker 4: be here today. I'd just be daytrading my own account, right. Yes,

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Speaker 4: That's something that always bothered me about these prognosticators or

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Speaker 4: people that predict what stock's going to go up and down.

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Speaker 4: They're right about half the time and they're wrong about

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Speaker 4: the other halftime. So what I like to educate on

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Speaker 4: is just patterns, processes, or really systems that you can

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Speaker 4: play maker strategies if you will, that you can implement

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Speaker 4: that over the long run, if you are going to

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Speaker 4: be in the market, you'll be better off.

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Speaker 5: Right.

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Speaker 4: So a couple of things that happened yesterday before I

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Speaker 4: dive in the market that I thought we'd want to

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Speaker 4: also talk about. Is this thing that happened with Starbucks.

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Speaker 4: Now we're filming the show here on a Wednesday, August fourteenth.

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Speaker 4: You guys are going to hear it in a few fridays,

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Speaker 4: but it's all over the news. Yesterday this guy announced

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Speaker 4: that the Starbucks CEO they've had this our fourth coeo.

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Speaker 4: In two years, Starbucks CEO got fired, laid off, whatever

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Speaker 4: they want to call it. And the new guy that

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Speaker 4: takes over Nichols. This guy is just a rock star man.

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Speaker 4: This guy turned around Taco Bell was he was given

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Speaker 4: credit for pioneering, you know, the Mexican pizza, bringing it back.

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Speaker 4: Chipotle recently he was the CEO and chairman. If I'm

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Speaker 4: not mistaken, of Chipotle, and Chippotle has had just meteoric rise,

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Speaker 4: you know, eight hundred percent growth, double their triple to

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Speaker 4: their profits. I mean numbers that are just put this

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Speaker 4: guy in, you know, legendary status as far as CEOs

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Speaker 4: are concerned. Chipotle was hitting all time highs Now. Interesting

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Speaker 4: thing about Chippotle is only three percent of their stores

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Speaker 4: or internationals, so they're really more so expansion in the

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Speaker 4: United States. Once these companies expand dramatically in the States,

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Speaker 4: then they start looking for outside countries, similar to McDonald's, KFC,

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Speaker 4: et cetera.

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Speaker 3: And so he came into Chipotle later in Chipotle's life cite.

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Speaker 4: Correct correct And I don't have the exact data. If

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Speaker 4: you were back there, you could be pulling it up.

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Speaker 4: But yeah, he came in, and he came in they

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Speaker 4: had an e Coli scare back when where they were

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Speaker 4: cooking me wrong.

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Speaker 5: Yeah.

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Speaker 4: He was also credited with bringing carnesada to Chipotli. Before

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Speaker 4: they didn't have that, so the carnasada really took them

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Speaker 4: up over the edge. And he's also really pioneered getting

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Speaker 4: people on the digital platforms. If I'm not mistaken, Starbucks

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Speaker 4: has roughly about twenty three million people that use the app.

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Speaker 4: And if you notice Starbucks, they're also calling it one

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Speaker 4: of the second largest banks. Because with twenty three million

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Speaker 4: people on the app, what do you do when you

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Speaker 4: go to Starbucks? You preload your Starbucks account with twenty

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Speaker 4: forty one hundred bucks, right, and so you want to

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Speaker 4: get your stars, you want to get your points. You're

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Speaker 4: almost running everything through the app. You're ordering ahead of time.

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Speaker 4: In order to do that, you got to have that

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Speaker 4: card preloaded, but you're never loading it, preloading it down

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Speaker 4: to the penny. So these dudes are sitting on one hundreds.

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Speaker 4: When I say one hundreds, do the math. If they

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Speaker 4: have twenty five million active users on their app and

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Speaker 4: the average person has ten million ten dollars on that app,

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Speaker 4: one dollar would equal or ten dollars would equal two

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Speaker 4: hundred and fifty million. So if the average person's got

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Speaker 4: one hundred bucks fifty bucks, you look about a half

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Speaker 4: a billion of billion dollars of just pure cash shit

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Speaker 4: they're earning interest on, they get to use for their

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Speaker 4: cash flow, et cetera. So this whole concept of using

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Speaker 4: their rewards program really, you know, this dude took it

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Speaker 4: to higher level of Starbucks.

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Speaker 5: He did the same thing with Chipotle.

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Speaker 4: Yesterday they announced and I'll read this directly from from

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Speaker 4: I believe I'm going to read it from let's do

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Speaker 4: it from CBS News for just because it's an easier read.

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Speaker 4: So Starbucks shares went all the ways, has twenty five

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Speaker 4: percent one day, I think since they've had their IPO.

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Speaker 4: I don't think they've had that in a long time.

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Speaker 4: But it ended up more than twenty percent after the

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Speaker 4: coffee chain said it's ousting its current CEO, Lexman Narish

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Speaker 4: and will replace him with Chipotle CEO Brian Nickel. The

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Speaker 4: move came of Starbucks contends with activist investors stagnant sales

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Speaker 4: and sinking stock price. Now, what happened with Starbucks, man,

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Speaker 4: if you think about it during the PPP days and

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Speaker 4: all the government stimulus checks. People were getting that free money,

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Speaker 4: and of course they'll go spend it on things like Starbucks.

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Speaker 4: They're also sitting at home nothing to do, they're not

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Speaker 4: going to work, so they're going to breakfast for Starbucks,

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Speaker 4: and so their sales were actually doing good. Subsequent to that,

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Speaker 4: Obviously people have gone back to reality. They're going back

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Speaker 4: to work. Money's getting tighter, inflation's through the roof, the

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Speaker 4: dollar's not going as far. A freaking coffee now costs

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Speaker 4: six to seven bucks if you get in an Americano,

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Speaker 4: I get it on Uber eats. By time it gets

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Speaker 4: to my door, it's about a ten dollars cup of coffee.

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Speaker 4: So that's really dipping into their margins. The other interesting

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Speaker 4: thing about Starbucks, and I say all these things to

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Speaker 4: you because even if you're not a stock market investor,

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Speaker 4: there's always little nuggets you can take by really diving

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Speaker 4: into these stories, and I'm going to try to highlight those,

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Speaker 4: is there's a huge difference when you're an international company

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Speaker 4: having international exposure and having international stores. Now with Starbucks,

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Speaker 4: unlike Chipotle, they have double digit number of percentage stores

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Speaker 4: and mainly China. China was a big market for them.

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Speaker 4: Initially Chinese people, I guess love they're Starbucks their coffee.

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Speaker 4: But China, just like every other product, now has a

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Speaker 4: bunch of spinoffs knockoffs at dramatically lower prices, so that's

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Speaker 4: really affecting their China numbers. And then more importantly here

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Speaker 4: in the United States, they've had double digit stagnant same

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Speaker 4: store sales, which is a big indicator of how wall

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Speaker 4: the change is going.

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Speaker 3: Yeah, and I saw that, or I know that post

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Speaker 3: COVID they're having like supply chain issues, and you know,

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Speaker 3: they were, like, I know, they were struggling for a

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Speaker 3: long time to like ship out cups and straws and

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Speaker 3: like get blends.

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Speaker 6: Into their stores.

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Speaker 3: So you know, I know it's been, like you said,

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Speaker 3: a bit stagnant for them, but I'm sure the CEO

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Speaker 3: will come in and change the game.

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Speaker 6: Like are you are you a coffee guy? Like do

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Speaker 6: you go in and get Starbucks every once in a while?

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Speaker 4: You know, I remember back in college or even after college,

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Speaker 4: when I'd be working on projects and didn't have an

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Speaker 4: office or whatever. I was never that guy that could

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Speaker 4: go and get a copy coffee and start working on

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Speaker 4: my laptop.

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Speaker 5: You know.

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Speaker 4: My add kicks in, I'm eavesdropping on other people's conversations

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Speaker 4: looking at you.

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Speaker 5: That's just not what I needed.

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Speaker 4: However, if you if you really think about the last

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Speaker 4: Starbucks you went into the stores, the whole concept has

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Speaker 4: kind of lost its image focus. When Starbucks really was

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Speaker 4: going gangbusters, call it over a decade ago, that was

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Speaker 4: the thing. You know, you see high school kids doing

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Speaker 4: their homework, they were really encouraging you hanging out, maybe

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Speaker 4: getting another snack.

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Speaker 5: Or whatever, you could use the restroom.

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Speaker 4: Now here in California as well many metropolitan areas, between

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Speaker 4: what's going on with the policing and just just the

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Speaker 4: chaos that's happening in the streets, a lot of Starbucks

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Speaker 4: right now are even not having restrooms or they're having

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Speaker 4: people overdose in the restrooms, whether you're in New York,

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Speaker 4: San Francisco, la, et cetera. So now all of a sudden,

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Speaker 4: they want to discourage people coming into the Starbucks and

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Speaker 4: hanging out. They've taken out a lot of the lounge

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Speaker 4: areas they've been kicking out. So now you're like paying

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Speaker 4: eight bucks to wait in line to park your car,

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Speaker 4: hard to go in.

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Speaker 5: The stores are bit mess here. They stopped having the condiments.

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Speaker 4: Out free where you know, you take eight equals if

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Speaker 4: you only want one because you want to have someone

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Speaker 4: the home or whatever. And now everything's a little bit

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Speaker 4: more just want to get your money, push you out

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Speaker 4: the front door. And so they've kind of lost their image,

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Speaker 4: they've lost their purpose, they've lost their messaging, and I

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Speaker 4: think right now that's why. And again for a name

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Speaker 4: like Starbucks to go through this many changes, it is

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Speaker 4: pretty dramatic, especially Howard Schultz came back in after Retirement's

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Speaker 4: kind of saved that was his baby. But now you

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Speaker 4: know he got ousted for this guy.

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Speaker 5: And now this guy has lasted a different, no mistaken

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Speaker 5: less than the years. So I'm going to take a

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Speaker 5: quick break. I want to come back.

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Speaker 4: I want to happen a little bit more about this

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Speaker 4: Brian Nichols guy and talking about how upper management and

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Speaker 4: having good strong CEO level management is so important to

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Speaker 4: any bread and how the messaging starts from the top.

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Speaker 4: We'll be right back here on Financial Friday.

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Speaker 2: We'll be right back with the Financial Friday five on

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Speaker 2: Cannabis Talk, one on one's Financial Fridays with the Insider

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Speaker 2: investor Tony Kay. Welcome, back to Cannabis Talk one on

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Speaker 2: ones Financial Fridays with the insider investor Tony Ka. It's

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Speaker 2: now time for the Financial Friday five.

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Speaker 5: Hey, Master Mentors is coming to Texas. Guys.

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Speaker 4: Check out the website master Mentors Live. You've heard me

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Speaker 4: talk about it. In fact, I'm gonna be speaking at

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Speaker 4: the one in Texas. But master Mentors Lib. What is

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Speaker 4: it about. Here's what we're doing. We're coming to a

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Speaker 4: town near you and we're teaching you how to become

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Speaker 4: legal in the canapreneur space. Cash in on the modern

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Speaker 4: day greenbrush.

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Speaker 5: Guys. Master Mentors Live. We'll be there.

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Speaker 4: Check it out. Can't wait to see you. Now we're

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Speaker 4: back here on Financial Fridays. We're just talking about the

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Speaker 4: new CEO of Starbucks, how the lessons are learned if

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Speaker 4: you are an investor in it and if you are

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Speaker 4: in the stock market. In the third segment, I'm going

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Speaker 4: to share with you a very specific strategy on how

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Speaker 4: you can make sure that you get the most out

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Speaker 4: of your money you don't.

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Speaker 5: Get screwed on Wall Street. But before we left.

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Speaker 4: Connor, we were tapping in on this you guy that

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Speaker 4: I call a rock star on Nichols for the analyst

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Speaker 4: community in the are just a bunch of guys in

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Speaker 4: suits that work at big investment banks.

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Speaker 5: That give their tips on stocks.

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Speaker 4: The entire community just saldates over this guy, which tells me,

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Speaker 4: I mean he's he's really got always brought after he

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Speaker 4: saw it after. More importantly, I mean people are going

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Speaker 4: to have high expectations from him, and the stock movement

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Speaker 4: is proof in the pudding.

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Speaker 5: Right.

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Speaker 4: So Starbucks share sold more than twenty percent on Tuesday

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Speaker 4: after the coffee chain said it's ousting its current CEO.

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Speaker 4: We covered that. More importantly, this new guy taking over.

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Speaker 4: The reason he took over is what what Starbucks went

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Speaker 4: through is they went through activists investors as well. This

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Speaker 4: is another little kind of fun fact. So there's sometimes

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Speaker 4: big groups that take a position in a stock but

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Speaker 4: then aren't happy what's going on, and they'll pressure management

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Speaker 4: to say, hey, you.

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Speaker 5: Got to get rid of this guy. You got to

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Speaker 5: do that.

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Speaker 4: So the activist investors here served the current CEO served

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Speaker 4: for gosh since early two thousands, but quickly the investors

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Speaker 4: the company brand soured on the last ceo. Sales weekend.

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Speaker 4: Starbucks dealt with multiple issues, including inroads by lower cost

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Speaker 4: competitors in China, Boycott's in the Middle East and elsewhere

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Speaker 4: related to the Israel Hamas War Elliott Investment Management. This

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Speaker 4: is an activist firm with significant stakes and Starbucks. They

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Speaker 4: began to take they begin to ask for a change

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Speaker 4: in leadership about two months ago. In a statement on Tuesday,

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Speaker 4: the activist said that we welcomed the appointment of Brian

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Speaker 4: Nickel and we look forward to continue our engagement. Since

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Speaker 4: Nicol became Chippotele CEO in twenty eighteen, the Brido chain

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Speaker 4: has doubled, while profits have jumped eight hundred thousand I'm sorry,

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Speaker 4: eight hundred percent, which is you know.

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Speaker 3: And so you credit it to like he brought he

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Speaker 3: did the mobile app with the banking. He brought in

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Speaker 3: four changes to the menu.

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Speaker 5: Four things.

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Speaker 4: Yeah, he streamed there was there used to be really

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Speaker 4: long lines because of the customization process.

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Speaker 5: Yeah, he minimized that.

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Speaker 4: He sped up and really just did a lot of

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Speaker 4: focus groups on how they could speed up efficiency so

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Speaker 4: that you walk in it's taking you less than five

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Speaker 4: minutes from order to order to burrito. The other thing

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Speaker 4: he did is he brought Carnesada again listening to the

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Speaker 4: consumer instead of just focusing on margins, which, if you remember,

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Speaker 4: even during COVID, meat was really expensive and they were

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Speaker 4: taking kind of a large haircut on their margins by

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Speaker 4: bringing in this item that everybody really wanted, Yeah, the

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Speaker 4: digital platform, and just really he was really given a

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Speaker 4: lot of credit for bringing him out of the dumps.

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Speaker 4: A lot of these big chains go through some kind

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Speaker 4: of a health scare of it once in a while.

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Speaker 4: And again I don't know the dates offhand, but that's

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Speaker 4: a big equal ice scare that was like early Yeah,

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Speaker 4: that sounds about right, And so that's why this Now,

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Speaker 4: this guy's also been a taco bell. He's just one

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Speaker 4: of those guys that he comes in they're expecting massive

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Speaker 4: things from him.

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Speaker 3: Yeah, so what do you envision he's gonna throw down

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Speaker 3: with Starbucks?

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Speaker 2: Like?

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Speaker 6: Is it gonna be something similar?

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Speaker 5: You think?

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Speaker 4: And I think that's unless people educate themselves on it.

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Speaker 4: I think that's why I think this guy's got a

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Speaker 4: little bit of a harder road ahead ahead of him,

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Speaker 4: because one of the things that they want him to

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Speaker 4: do is in off Starbucks China and kind of sell

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Speaker 4: it maybe even to a Chinese company where they're leasing

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Speaker 4: out the name. But don't have to worry about operations,

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Speaker 4: so they could have steady cash flow.

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Speaker 6: Like license amount licensing.

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Speaker 4: It almost giving a master franchise agreement to one group

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Speaker 4: in China. And again it's China, so you're dealing with

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Speaker 4: the government, you're dealing with the Communist Party, so it's

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Speaker 4: going to be tough, especially, like I said, with Starbucks

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Speaker 4: having such an international exposure, and it's not just China.

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Speaker 5: You know, we talked about Israel.

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Speaker 4: There was a huge boycott because there's a ton of

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Speaker 4: Starbucks in Israel and talking about China want to boycott that,

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Speaker 4: and that did actually affect their bottom line. It affected

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Speaker 4: Coca Cola's as well. That's a whole other segment. It

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Speaker 4: was interesting Coca Cola came out with a huge marketing

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Speaker 4: campaign to show people, hey, we're not aligned with that.

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Speaker 4: Turned out that the Co Cola bodily plant in Palestine

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Speaker 4: was owned by an Israeli companies.

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Speaker 5: So these boycotts do work.

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Speaker 4: You know, they try to say that it doesn't affect them,

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Speaker 4: but it really does affect their bottom lines. And when

438
00:18:52,480 --> 00:18:55,960
Speaker 4: you see the company start marketing campaigns to address those

439
00:18:56,000 --> 00:18:57,480
Speaker 4: that's when you know those boycotts work.

440
00:18:57,560 --> 00:18:59,080
Speaker 5: But I kind of digressed there.

441
00:18:59,119 --> 00:19:00,919
Speaker 4: But yeah, man, I think this story is going to

442
00:19:00,920 --> 00:19:04,240
Speaker 4: be different because what he did at Chipotle, the people,

443
00:19:04,359 --> 00:19:06,639
Speaker 4: number of people on digital, they're already there. On Starbucks,

444
00:19:06,640 --> 00:19:08,919
Speaker 4: you can't really improve that that much. They got a

445
00:19:08,920 --> 00:19:12,680
Speaker 4: great user experience with the stars and all the accumulations

446
00:19:12,680 --> 00:19:15,199
Speaker 4: and the specials, So that's not going to work. The

447
00:19:15,280 --> 00:19:18,119
Speaker 4: fact that Chipotle was primarily the United States and he

448
00:19:18,160 --> 00:19:22,040
Speaker 4: had to focus on United States issues and geopolitical concerns.

449
00:19:22,200 --> 00:19:24,640
Speaker 4: Now he's got a different set of concerns here, which

450
00:19:24,720 --> 00:19:29,960
Speaker 4: again Starbucks' exposure in the foreign markets and then just

451
00:19:30,000 --> 00:19:33,040
Speaker 4: percentage of growth Chipotle. You have so many different markets

452
00:19:33,040 --> 00:19:35,840
Speaker 4: you can go into, but Starbucks is such a massive name,

453
00:19:35,920 --> 00:19:38,120
Speaker 4: it's massive entity. He's really got to look, I think,

454
00:19:38,119 --> 00:19:41,000
Speaker 4: more at putting a lot of capex back into the stores.

455
00:19:41,080 --> 00:19:45,720
Speaker 4: CAPEX means capital expenditures, so you may sacrifice some short

456
00:19:45,800 --> 00:19:48,520
Speaker 4: term cash profit issues where he's dumping a lot of

457
00:19:48,560 --> 00:19:49,480
Speaker 4: money into the stores.

458
00:19:49,640 --> 00:19:51,200
Speaker 5: So this is going to be a long play.

459
00:19:52,000 --> 00:19:55,320
Speaker 4: But when you see that market reaction, Starbucks went up

460
00:19:55,320 --> 00:19:58,480
Speaker 4: twenty five percent, Chipotle dropped ten percent because the shareholders

461
00:19:58,520 --> 00:20:00,800
Speaker 4: realized that, you know, we're about to lose this rock Start.

462
00:20:00,920 --> 00:20:03,240
Speaker 4: So yes, we go through all this the what what

463
00:20:03,359 --> 00:20:06,280
Speaker 4: takeaways do you take out of this? If you're a

464
00:20:06,320 --> 00:20:08,480
Speaker 4: business owner, if you're an investor, out you know, hit

465
00:20:08,480 --> 00:20:10,040
Speaker 4: me up with some questions or what do you think?

466
00:20:10,080 --> 00:20:12,840
Speaker 5: What do you think all these little data points I

467
00:20:12,880 --> 00:20:13,399
Speaker 5: threw at.

468
00:20:13,280 --> 00:20:18,640
Speaker 3: You, Maine, I'm like curious of how how much slack

469
00:20:19,520 --> 00:20:24,840
Speaker 3: the activist investors are going to give Nichols because you know,

470
00:20:25,119 --> 00:20:31,000
Speaker 3: obviously there's been some volatility within their upper management in

471
00:20:31,080 --> 00:20:33,000
Speaker 3: terms of they've had a kind of a revolving door

472
00:20:33,000 --> 00:20:36,200
Speaker 3: of CEOs the past few years. Like, you know, are

473
00:20:36,240 --> 00:20:39,520
Speaker 3: they gonna give him the time to succeed or like

474
00:20:39,840 --> 00:20:41,439
Speaker 3: I know you were mentioning, he's going to have to

475
00:20:41,560 --> 00:20:44,119
Speaker 3: spend some to get some back in terms of you know,

476
00:20:44,480 --> 00:20:47,760
Speaker 3: closing you know, figuring out these foreign markets, going to China.

477
00:20:47,840 --> 00:20:49,320
Speaker 3: It's not like China is going to be the only

478
00:20:49,359 --> 00:20:52,119
Speaker 3: thing on his docket, like Starbucks is everywhere. Of course,

479
00:20:52,240 --> 00:20:54,280
Speaker 3: So are you are do you think they're going to

480
00:20:54,320 --> 00:20:56,680
Speaker 3: be patient with him or like how do you see

481
00:20:56,680 --> 00:20:58,080
Speaker 3: this happening like due to history question?

482
00:20:58,280 --> 00:21:00,600
Speaker 4: Yeah, I think you know what Chippoll looking at what

483
00:21:00,640 --> 00:21:03,520
Speaker 4: he did. He came in in twenty eighteen. It took

484
00:21:03,600 --> 00:21:06,000
Speaker 4: him about three years before you actually saw some of

485
00:21:06,040 --> 00:21:08,800
Speaker 4: the implementations and really see a shift in the stock

486
00:21:08,840 --> 00:21:11,560
Speaker 4: market prices. If I'm not mistaken with this guy, I

487
00:21:11,560 --> 00:21:13,400
Speaker 4: think he's gonna get a lot more grace. The last

488
00:21:13,400 --> 00:21:16,240
Speaker 4: guy wasn't the most popular replacement. You know, you had

489
00:21:16,240 --> 00:21:18,320
Speaker 4: Schultz in there, obviously, that was a legend. He wrote

490
00:21:18,359 --> 00:21:20,680
Speaker 4: the book on Starbucks. So this guy, I think is

491
00:21:20,720 --> 00:21:22,800
Speaker 4: going to get a lot more grace what he's done.

492
00:21:23,080 --> 00:21:25,240
Speaker 4: You know, he's batting a thousand right now. He's done

493
00:21:25,280 --> 00:21:28,080
Speaker 4: complete makeovers for Taco Bell and Chipotte, in a handful

494
00:21:28,119 --> 00:21:31,320
Speaker 4: of others as consulting or more minor roles. But I

495
00:21:31,359 --> 00:21:33,640
Speaker 4: think he's going to get at least two to three years.

496
00:21:33,680 --> 00:21:36,040
Speaker 4: A lot of these things take time to implement and change,

497
00:21:36,280 --> 00:21:40,280
Speaker 4: so and so and again with Starbucks, I think right now.

498
00:21:40,280 --> 00:21:43,399
Speaker 4: There's also the economy. You know, it is a luxury item.

499
00:21:43,680 --> 00:21:45,560
Speaker 4: You can save so much money by not going there.

500
00:21:45,600 --> 00:21:48,119
Speaker 4: And it's the perception of value. I can brew, you know,

501
00:21:48,160 --> 00:21:50,000
Speaker 4: we brew a decent cup of coffee here that cost

502
00:21:50,040 --> 00:21:52,920
Speaker 4: thirty forty cents and to pay five six seven bucks.

503
00:21:53,000 --> 00:21:55,879
Speaker 4: It's just such a stretch for anybody these days, right, So,

504
00:21:55,960 --> 00:21:58,879
Speaker 4: I think they're battling a lot of external forces and

505
00:21:58,920 --> 00:22:00,840
Speaker 4: they're really going to have to figure out maybe bring

506
00:22:00,840 --> 00:22:03,840
Speaker 4: in some new lunch items or just something to reinvigorate it.

507
00:22:03,880 --> 00:22:06,680
Speaker 5: They need that one magic product that everybody's got to have.

508
00:22:07,560 --> 00:22:09,359
Speaker 4: But I think he's going to be getting the direct

509
00:22:09,480 --> 00:22:11,600
Speaker 4: question answer to your question is, I think he's going

510
00:22:11,640 --> 00:22:13,120
Speaker 4: to be given a lot of grace. I think he's

511
00:22:13,160 --> 00:22:14,480
Speaker 4: going to be given a lot of time. I think

512
00:22:14,520 --> 00:22:17,680
Speaker 4: his reputation precedes him and heal what. You know, any

513
00:22:17,760 --> 00:22:20,080
Speaker 4: other CEO would have maybe got the asks one to

514
00:22:20,160 --> 00:22:22,000
Speaker 4: two years in. I think he's going to be given

515
00:22:22,080 --> 00:22:24,199
Speaker 4: at least you know, his reign will at least be

516
00:22:24,200 --> 00:22:26,800
Speaker 4: four to five years, I think, assuming he doesn't completely

517
00:22:26,800 --> 00:22:27,960
Speaker 4: shit the bed for sure.

518
00:22:29,680 --> 00:22:33,400
Speaker 6: Mike checked up and you were saying.

519
00:22:33,119 --> 00:22:38,080
Speaker 5: That you're the sound engineer. You good?

520
00:22:39,760 --> 00:22:40,240
Speaker 6: Can you hear me?

521
00:22:40,320 --> 00:22:40,919
Speaker 5: Yeah? There you go.

522
00:22:41,520 --> 00:22:45,600
Speaker 3: It's still kind of k Yeah, Dan, can you change

523
00:22:45,600 --> 00:22:48,360
Speaker 3: it to guest Mike three.

524
00:22:48,400 --> 00:22:50,560
Speaker 4: I'll keep drowning on here while you while you fix

525
00:22:50,600 --> 00:22:52,920
Speaker 4: your issues. So that's the answer to your question on that. Now,

526
00:22:53,480 --> 00:22:55,560
Speaker 4: before I pop into that strategy that I was telling

527
00:22:55,600 --> 00:22:58,000
Speaker 4: you guys about, I do want to kind of highlight

528
00:22:58,080 --> 00:23:00,920
Speaker 4: some other opportunities that this lesson learned you so learned

529
00:23:00,960 --> 00:23:03,240
Speaker 4: you taught you. So if you look at what Starbucks did,

530
00:23:03,240 --> 00:23:04,960
Speaker 4: if you knew what Starbucks was going to do forty

531
00:23:05,000 --> 00:23:07,639
Speaker 4: eight hours ago, obviously you'd make a position into Starbucks,

532
00:23:07,760 --> 00:23:10,600
Speaker 4: which was considered actually just a value proposition, not really

533
00:23:10,600 --> 00:23:11,240
Speaker 4: a growth stock.

534
00:23:11,280 --> 00:23:12,880
Speaker 5: And now obviously it's gone through the roof.

535
00:23:13,280 --> 00:23:17,200
Speaker 4: So there's a couple of other companies that could If

536
00:23:17,240 --> 00:23:19,160
Speaker 4: you guys are active and if you want tom follow

537
00:23:19,200 --> 00:23:20,680
Speaker 4: the market, and I know you do, so you may

538
00:23:20,720 --> 00:23:23,119
Speaker 4: want to look at these. There's two companies that yesterday

539
00:23:23,160 --> 00:23:27,240
Speaker 4: also announced some really exciting interesting things. Southwest just announced

540
00:23:27,240 --> 00:23:29,119
Speaker 4: that they're replacing like I can't remember if it was

541
00:23:29,200 --> 00:23:31,120
Speaker 4: nine or eleven, those two numbers are in my head,

542
00:23:31,119 --> 00:23:33,320
Speaker 4: but it's a big number, close to double digit nine

543
00:23:33,400 --> 00:23:36,840
Speaker 4: or eleven of their board of directors, which is literally

544
00:23:36,880 --> 00:23:38,120
Speaker 4: like saying they're replacing.

545
00:23:37,800 --> 00:23:40,520
Speaker 5: Their entire board. That's very rare, you know.

546
00:23:40,600 --> 00:23:42,879
Speaker 6: And they're pivoting their entire business model.

547
00:23:43,160 --> 00:23:46,720
Speaker 4: They're now assigned seating. They're just throwing everything at the wall.

548
00:23:46,800 --> 00:23:49,800
Speaker 4: That tells me two things. There's a lot of turmoil there.

549
00:23:50,480 --> 00:23:52,679
Speaker 4: There's something going on behind the scenes. They used to

550
00:23:52,680 --> 00:23:54,880
Speaker 4: be the darling of all the airline stocks. That used

551
00:23:54,880 --> 00:23:57,680
Speaker 4: to be what did really well. They survived the gasoline

552
00:23:58,280 --> 00:24:00,640
Speaker 4: when all the airlines were suffering because they were paying

553
00:24:00,680 --> 00:24:03,600
Speaker 4: high in gasoline. They had long term strategy towards their

554
00:24:03,600 --> 00:24:06,080
Speaker 4: fuel costs. They were doing they were hedging their it's

555
00:24:06,080 --> 00:24:09,000
Speaker 4: called contracts, and they were buying fuel contracts basically guaranteeing

556
00:24:09,000 --> 00:24:11,320
Speaker 4: and locking in a fuel price. So they really did

557
00:24:11,359 --> 00:24:14,040
Speaker 4: well during those years. But as of late, a lot

558
00:24:14,040 --> 00:24:17,359
Speaker 4: of these budget airlines, from Spirit to Frontier to mainly Southwest,

559
00:24:17,640 --> 00:24:20,880
Speaker 4: are really suffering. So with a big name like Southwest,

560
00:24:20,920 --> 00:24:23,880
Speaker 4: with the huge loyalty program that they have, if they

561
00:24:23,920 --> 00:24:26,600
Speaker 4: came out with an announcement they brought in some superstar,

562
00:24:27,320 --> 00:24:30,120
Speaker 4: you know, airline bruns In or just somebody that's that's

563
00:24:30,119 --> 00:24:32,440
Speaker 4: a little bit more famous, flashy that can really turn

564
00:24:32,480 --> 00:24:34,399
Speaker 4: it around. I think they're right for that, but I

565
00:24:34,440 --> 00:24:36,600
Speaker 4: think in the short term they're the ones to watch.

566
00:24:36,600 --> 00:24:38,800
Speaker 4: And then the other big story that all the analysts

567
00:24:38,840 --> 00:24:41,120
Speaker 4: are talking about is what's going on with Intel.

568
00:24:41,440 --> 00:24:41,600
Speaker 5: Now.

569
00:24:41,680 --> 00:24:44,760
Speaker 4: Intel, if you guys don't know, you know, they're just

570
00:24:44,800 --> 00:24:47,480
Speaker 4: completely been left behind by Nvidia and a lot of

571
00:24:47,520 --> 00:24:50,320
Speaker 4: the other chip makers. With the shortage that we had,

572
00:24:50,640 --> 00:24:54,800
Speaker 4: the government and its infinite wisdom started investing into Intel,

573
00:24:54,840 --> 00:24:58,080
Speaker 4: which should be leading into get that company is going

574
00:24:58,119 --> 00:25:00,520
Speaker 4: to go through the toilet, and that's what's happening right now.

575
00:25:00,560 --> 00:25:03,359
Speaker 4: You know, they're giving investors no reason to stay on board.

576
00:25:03,400 --> 00:25:07,199
Speaker 4: They slash their dividends, their stocks cratered, and and I

577
00:25:07,240 --> 00:25:08,439
Speaker 4: think they have a lot.

578
00:25:08,280 --> 00:25:09,560
Speaker 5: Of activism behind them as well.

579
00:25:09,560 --> 00:25:12,280
Speaker 4: Obviously, it's a huge name, so if they did come

580
00:25:12,280 --> 00:25:14,119
Speaker 4: in with one of these stories where they bring in

581
00:25:14,119 --> 00:25:17,640
Speaker 4: a rock star CEO that completely invigorates it, you might

582
00:25:17,640 --> 00:25:20,000
Speaker 4: see that kind of a pop. Because the news on

583
00:25:20,119 --> 00:25:23,800
Speaker 4: them is almost the opposite of Nvidia, which is you know,

584
00:25:23,880 --> 00:25:24,720
Speaker 4: obviously keeps.

585
00:25:24,560 --> 00:25:25,160
Speaker 5: Going through the roof.

586
00:25:25,200 --> 00:25:28,000
Speaker 4: They're talking about the demand for these chips in the

587
00:25:28,040 --> 00:25:31,280
Speaker 4: next three years is going to be fourteen times as

588
00:25:31,320 --> 00:25:33,720
Speaker 4: much as what we're seeing right now, and their pots

589
00:25:33,720 --> 00:25:36,560
Speaker 4: to take advantage of that. Intel could catch up, but

590
00:25:36,600 --> 00:25:39,080
Speaker 4: I think they're so far behind right now. It's really

591
00:25:39,080 --> 00:25:41,320
Speaker 4: one of those crazy stories where you may see right

592
00:25:41,359 --> 00:25:44,879
Speaker 4: now that are talking about the stock is trading below

593
00:25:44,920 --> 00:25:47,600
Speaker 4: book value, meaning if you just liquidated all their assets,

594
00:25:47,600 --> 00:25:50,240
Speaker 4: all their real estates, what they're were for their name.

595
00:25:50,600 --> 00:25:52,600
Speaker 4: The stock is trading less than that, which is a

596
00:25:52,680 --> 00:25:53,840
Speaker 4: really scary place to.

597
00:25:53,760 --> 00:25:55,680
Speaker 5: Be, especially for a name like that.

598
00:25:56,080 --> 00:25:58,680
Speaker 4: Totally, so we're going to take a break. Before we

599
00:25:58,400 --> 00:26:00,359
Speaker 4: took we'd take that break. I promise to you guys.

600
00:26:00,640 --> 00:26:02,440
Speaker 4: A strategy I'm going to talk about this is something

601
00:26:02,520 --> 00:26:05,360
Speaker 4: very simple. It's called dollar cost averaging. I'm gonna break

602
00:26:05,359 --> 00:26:06,760
Speaker 4: it down for you right when we come back on

603
00:26:06,800 --> 00:26:07,520
Speaker 4: Financial Friday.

604
00:26:07,760 --> 00:26:10,239
Speaker 2: We'll be right back with more Financial Fridays with the

605
00:26:10,280 --> 00:26:14,080
Speaker 2: Inside Investor Tony K. Make sure you follow Tony at

606
00:26:14,080 --> 00:26:25,480
Speaker 2: the Insider Investor. Welcome back to Cannabis Talk, one on

607
00:26:25,560 --> 00:26:29,840
Speaker 2: one's Financial Fridays with the Inside Investor Tony K. Make

608
00:26:29,880 --> 00:26:32,360
Speaker 2: sure you like, follow and subscribe to the show now.

609
00:26:32,600 --> 00:26:35,280
Speaker 4: If you ever have the misfortune of nating an attorney,

610
00:26:35,480 --> 00:26:38,600
Speaker 4: think no harder. Think Freddie sage Man. This dude's a

611
00:26:38,680 --> 00:26:40,639
Speaker 4: legend in the game out here in southern California. But

612
00:26:40,680 --> 00:26:45,280
Speaker 4: he handles everything he does cannabis law, entertainment law, business law,

613
00:26:45,480 --> 00:26:46,360
Speaker 4: criminal law.

614
00:26:46,240 --> 00:26:48,159
Speaker 5: Criminal defense. This dude's covered.

615
00:26:48,200 --> 00:26:50,760
Speaker 4: He's tied in handles a lot of the celebrities that

616
00:26:51,119 --> 00:26:52,560
Speaker 4: we've had on the show here as well.

617
00:26:52,800 --> 00:26:53,960
Speaker 5: Really good dude as well.

618
00:26:54,160 --> 00:26:57,760
Speaker 4: He's also moonlights as a comedian and he is funny

619
00:26:57,760 --> 00:27:01,399
Speaker 4: as hell. Freddie Fox right stage name, and that's this

620
00:27:01,480 --> 00:27:03,600
Speaker 4: comedian stage name, not a stripper stage name.

621
00:27:03,920 --> 00:27:06,439
Speaker 5: Well look them up. It's the Fox Firm with two x's.

622
00:27:06,680 --> 00:27:09,520
Speaker 4: That's the Foxfirm dot com. Or you can call them

623
00:27:09,520 --> 00:27:12,200
Speaker 4: at three one oh eight seven seven five zero three

624
00:27:12,280 --> 00:27:14,120
Speaker 4: three read East stage as your man.

625
00:27:14,200 --> 00:27:15,760
Speaker 5: Now we're back here on financial Fridays.

626
00:27:15,760 --> 00:27:17,720
Speaker 4: Before we took a break, I promised you, guys, I'm

627
00:27:17,720 --> 00:27:19,600
Speaker 4: going to share with you the strategy that for those

628
00:27:19,640 --> 00:27:21,639
Speaker 4: of you either are smart, not smarter, but maybe a

629
00:27:21,640 --> 00:27:23,960
Speaker 4: little bit more astute when it comes to mark the

630
00:27:24,000 --> 00:27:26,520
Speaker 4: stock market. You've probably heard this expression. If you're a

631
00:27:26,520 --> 00:27:29,760
Speaker 4: financial advisor, you definitely know the expression, which is dollar

632
00:27:29,800 --> 00:27:32,480
Speaker 4: cost averaging. But before I dive into that connor, during

633
00:27:32,480 --> 00:27:35,240
Speaker 4: the break, you started telling me about your Southwest experience,

634
00:27:35,240 --> 00:27:37,280
Speaker 4: and I wanted them to share this with you, guys,

635
00:27:37,680 --> 00:27:40,760
Speaker 4: because sometimes your own experience with the company, if other

636
00:27:40,760 --> 00:27:43,160
Speaker 4: people are having the same experience, it's also a good

637
00:27:43,160 --> 00:27:45,760
Speaker 4: idea to kind of maybe dabble into taking a position

638
00:27:45,840 --> 00:27:49,640
Speaker 4: against that stock because the consumer is the strongest indicator

639
00:27:49,640 --> 00:27:52,159
Speaker 4: of what's going on like we talked with Starbucks and

640
00:27:52,160 --> 00:27:54,280
Speaker 4: the prices being through the roof and the experience not

641
00:27:54,359 --> 00:27:55,040
Speaker 4: really being there.

642
00:27:55,160 --> 00:27:57,239
Speaker 5: You could tell they were suffering. Tell me about your

643
00:27:57,240 --> 00:27:58,200
Speaker 5: Southwest experience.

644
00:27:58,320 --> 00:28:01,399
Speaker 3: Yeah, So, I mean normally on south West it's like

645
00:28:01,640 --> 00:28:04,320
Speaker 3: pretty smooth and you have your A boarding, bboarding and

646
00:28:04,359 --> 00:28:06,560
Speaker 3: seaboarding and maybe a few pre boarders. But I think

647
00:28:06,560 --> 00:28:08,800
Speaker 3: it's just gotten out of control with the amount of

648
00:28:08,840 --> 00:28:12,520
Speaker 3: people that like fit stipulations to be able to be

649
00:28:12,600 --> 00:28:15,800
Speaker 3: pre boarded, or you know, people are gaming the system

650
00:28:15,920 --> 00:28:20,359
Speaker 3: because like you know, I saw about fifteen wheelchaired people

651
00:28:20,560 --> 00:28:23,240
Speaker 3: roll into the plane and then when we land, none

652
00:28:23,280 --> 00:28:25,080
Speaker 3: of them are on wheelchairs and are walking out. And

653
00:28:25,119 --> 00:28:28,000
Speaker 3: so I'm like, all right, you know what's going on there?

654
00:28:28,040 --> 00:28:30,720
Speaker 3: And obviously it's got out out of control. And so

655
00:28:30,840 --> 00:28:32,680
Speaker 3: I you know, I got some money backers, I paid

656
00:28:32,720 --> 00:28:34,720
Speaker 3: for priority boarding, and I ended up three quarters of

657
00:28:34,720 --> 00:28:36,600
Speaker 3: the way back through the plane, and it's like, dude,

658
00:28:36,800 --> 00:28:37,720
Speaker 3: what's the point.

659
00:28:38,000 --> 00:28:41,320
Speaker 4: So and unfortunately that's just shitty people being shitty because

660
00:28:41,680 --> 00:28:44,040
Speaker 4: American actually there was a bunch of articles that a

661
00:28:44,040 --> 00:28:46,960
Speaker 4: lot of people are abusing that system airline wide, where

662
00:28:47,000 --> 00:28:48,640
Speaker 4: all you got to do is roll up in a wheelchair,

663
00:28:49,000 --> 00:28:51,960
Speaker 4: you get priority, you get to bump up in Priority one. Now,

664
00:28:52,000 --> 00:28:54,240
Speaker 4: with a lot of the other airlines where you actually

665
00:28:54,320 --> 00:28:56,719
Speaker 4: pay for your seat, it's a little bit of an

666
00:28:56,720 --> 00:28:58,920
Speaker 4: issue because it's annoying standing around. Like you said, then

667
00:28:58,960 --> 00:29:00,760
Speaker 4: the plane lands and all the same people that got

668
00:29:00,800 --> 00:29:03,440
Speaker 4: wheelchaired in just walk off the plane. But with Southwest

669
00:29:03,480 --> 00:29:06,240
Speaker 4: has created a massive issue because you know they don't

670
00:29:06,280 --> 00:29:08,080
Speaker 4: have as signed seating, but you can pay extra to

671
00:29:08,120 --> 00:29:10,200
Speaker 4: be one of the first fifteen people to board and

672
00:29:10,240 --> 00:29:12,240
Speaker 4: ideally get the best seats. But if you got a

673
00:29:12,240 --> 00:29:15,120
Speaker 4: bunch of people gaming the system, it's completely thrown a

674
00:29:15,120 --> 00:29:17,640
Speaker 4: monkey wrench into their model, which is I think just

675
00:29:17,920 --> 00:29:20,200
Speaker 4: icing on the cake. But it's a very valid point.

676
00:29:20,200 --> 00:29:22,240
Speaker 4: They're going through a lot of issues right now, so

677
00:29:22,400 --> 00:29:25,240
Speaker 4: definitely an opportunity. Now, let's say that you've listened to

678
00:29:25,240 --> 00:29:27,120
Speaker 4: the show, or maybe a little bit younger or older

679
00:29:27,160 --> 00:29:29,320
Speaker 4: and want to dabble into the market, and you're saying,

680
00:29:29,480 --> 00:29:30,440
Speaker 4: what should I buy?

681
00:29:30,520 --> 00:29:31,040
Speaker 5: What stocks?

682
00:29:31,080 --> 00:29:33,200
Speaker 4: You've heard me talk about Tesla a couple of different

683
00:29:33,200 --> 00:29:35,440
Speaker 4: positions here and there. I'm not a big fan of

684
00:29:35,480 --> 00:29:38,480
Speaker 4: picking particular positions, so I'd rather give you guys a

685
00:29:38,520 --> 00:29:41,040
Speaker 4: strategy Now, this strategy can work for anybody. It can

686
00:29:41,080 --> 00:29:43,160
Speaker 4: work if you're just investing a couple of thousand into

687
00:29:43,200 --> 00:29:45,200
Speaker 4: the market or a couple of one hundred thousand or

688
00:29:45,240 --> 00:29:47,640
Speaker 4: a million, doesn't matter what position you take. Now, I'm

689
00:29:47,640 --> 00:29:51,440
Speaker 4: going to read you the the you know, Wikipedia or

690
00:29:51,480 --> 00:29:54,320
Speaker 4: Investorpedia definition of it, and then I'm going to break

691
00:29:54,320 --> 00:29:56,160
Speaker 4: it down to you guys at layman terms and really

692
00:29:56,160 --> 00:29:58,960
Speaker 4: show you how the strategy works. So, dollar cost averaging

693
00:29:59,000 --> 00:30:00,920
Speaker 4: is a simple tool that in investor can use to

694
00:30:00,920 --> 00:30:03,760
Speaker 4: build savings and wealth over the long term. It's also

695
00:30:03,760 --> 00:30:06,840
Speaker 4: a way for investors to ignore short term volatility in

696
00:30:06,880 --> 00:30:10,360
Speaker 4: the broader markets. Prime example of long term dollar cost

697
00:30:10,360 --> 00:30:14,280
Speaker 4: averaging is to use it. It is used in four

698
00:30:14,360 --> 00:30:16,280
Speaker 4: one K plans. In other words, you're putting in a

699
00:30:16,320 --> 00:30:18,680
Speaker 4: set amount each month and it's buying you a set

700
00:30:18,720 --> 00:30:22,400
Speaker 4: amount of assets. Dollar cost averaging can also be used

701
00:30:22,400 --> 00:30:25,120
Speaker 4: outside of a four one K plan. For instance, investors

702
00:30:25,120 --> 00:30:27,920
Speaker 4: can use it to make regular purchases of the mutual funds,

703
00:30:28,000 --> 00:30:29,000
Speaker 4: index funds.

704
00:30:28,760 --> 00:30:29,240
Speaker 5: Or stocks.

705
00:30:29,560 --> 00:30:31,880
Speaker 4: The benefits of dollar cost averaging is that it can

706
00:30:31,920 --> 00:30:35,440
Speaker 4: lower the average amount you spend on investments. It reinforces

707
00:30:35,440 --> 00:30:38,640
Speaker 4: the practice of investing regularly to build your wealth. It's

708
00:30:38,680 --> 00:30:41,800
Speaker 4: automatic and take can take concerns about where to invest

709
00:30:41,840 --> 00:30:44,880
Speaker 4: out of your hands or when. It removes the pitfalls

710
00:30:44,920 --> 00:30:47,440
Speaker 4: of market timing, such as buying only when prices have

711
00:30:47,480 --> 00:30:50,120
Speaker 4: already risen. It can also ensure that you're already in

712
00:30:50,160 --> 00:30:53,200
Speaker 4: the market ready to buy when events send prices higher.

713
00:30:53,240 --> 00:30:54,800
Speaker 4: So what does this all mean in Layman's term? So

714
00:30:54,880 --> 00:30:58,080
Speaker 4: let's use that Starbucks as an analogy. So, and let's

715
00:30:58,080 --> 00:31:00,680
Speaker 4: just say the Starbucks before this big new news was

716
00:31:00,720 --> 00:31:03,200
Speaker 4: trading at one hundred bucks a share, and now you

717
00:31:03,440 --> 00:31:06,280
Speaker 4: put in one hundred bucks and the market goes up higher,

718
00:31:06,560 --> 00:31:08,240
Speaker 4: and you're like, oh shit, you know I want to

719
00:31:08,240 --> 00:31:11,320
Speaker 4: buy more. So what dollar cost averaging does is it says, look,

720
00:31:11,360 --> 00:31:13,040
Speaker 4: I'm going to buy a set amount. Let's say I

721
00:31:13,080 --> 00:31:16,840
Speaker 4: want to invest twelve hundred dollars into Starbucks. Instead of

722
00:31:16,880 --> 00:31:18,920
Speaker 4: me trying to time it into the perfect day to

723
00:31:18,960 --> 00:31:21,480
Speaker 4: buy that stock, I'm going to split that twelve hundred

724
00:31:21,480 --> 00:31:24,360
Speaker 4: bucks into say six months, and over the next six months,

725
00:31:24,360 --> 00:31:26,280
Speaker 4: I'm going to take my position. I'm going to take

726
00:31:26,280 --> 00:31:29,160
Speaker 4: that twelve hundred dollars and divide it by six Right now,

727
00:31:29,200 --> 00:31:31,040
Speaker 4: That means now I'm going to have two hundred dollars

728
00:31:31,080 --> 00:31:32,560
Speaker 4: a month that I'm going to put in, and I

729
00:31:32,560 --> 00:31:34,320
Speaker 4: pick a date. It could be the fifteenth, it could

730
00:31:34,320 --> 00:31:35,840
Speaker 4: be the first, but you kind of want to stick

731
00:31:35,840 --> 00:31:37,960
Speaker 4: to a very set date. And now you buy the

732
00:31:38,000 --> 00:31:41,280
Speaker 4: same dollar amount on the same day, thus getting an

733
00:31:41,320 --> 00:31:44,160
Speaker 4: average price over those six weeks six month period.

734
00:31:44,240 --> 00:31:44,320
Speaker 3: Right.

735
00:31:44,400 --> 00:31:46,120
Speaker 4: So if one day the stocks at one hundred, then

736
00:31:46,160 --> 00:31:47,520
Speaker 4: it goes down to eight, and then I buy my

737
00:31:47,560 --> 00:31:49,840
Speaker 4: next batch at eighty, then it goes up to one twenty,

738
00:31:49,840 --> 00:31:51,640
Speaker 4: I buy some at there, then it craters all the

739
00:31:51,640 --> 00:31:52,400
Speaker 4: way down to fifty.

740
00:31:52,440 --> 00:31:54,400
Speaker 5: So this up and down, now I'm going to get

741
00:31:54,400 --> 00:31:54,920
Speaker 5: the average.

742
00:31:54,920 --> 00:31:56,760
Speaker 4: So instead of me timing it and buying it on

743
00:31:56,800 --> 00:31:59,760
Speaker 4: the worst day or possibly a really high price, you're

744
00:31:59,800 --> 00:32:01,000
Speaker 4: just generally.

745
00:32:00,680 --> 00:32:02,800
Speaker 5: Averaging out the price. Does that make sense? Yes?

746
00:32:03,240 --> 00:32:05,760
Speaker 4: And one of the biggest things that I noticed with

747
00:32:05,880 --> 00:32:08,200
Speaker 4: twenty years of doing what I was doing is people

748
00:32:08,280 --> 00:32:11,280
Speaker 4: really do buy on emotion. And if you look at

749
00:32:11,320 --> 00:32:14,320
Speaker 4: the life cycle of the stock market of when people

750
00:32:14,360 --> 00:32:16,880
Speaker 4: buy and sell, think about it as a clock, right,

751
00:32:16,960 --> 00:32:20,480
Speaker 4: twelve o'clock is your euphoria. Twelve o'clock is when everybody's

752
00:32:20,520 --> 00:32:22,920
Speaker 4: investing in the market. They're telling the dot coms are

753
00:32:22,920 --> 00:32:26,840
Speaker 4: going through the roof. The Denny's waitress is talking about

754
00:32:26,880 --> 00:32:28,960
Speaker 4: her stock portfolio. I mean, this happened during the dock

755
00:32:29,040 --> 00:32:31,200
Speaker 4: on boom, where everybody just thought, Hey, I'm going to

756
00:32:31,200 --> 00:32:33,920
Speaker 4: become a millionaire overnight in the stock market. That's your

757
00:32:33,920 --> 00:32:37,840
Speaker 4: twelve o'clock. That's your euphoria, that's buying high. Everybody starts

758
00:32:37,840 --> 00:32:40,760
Speaker 4: piling in. Historically, what happens the market starts to go

759
00:32:40,800 --> 00:32:43,200
Speaker 4: to one, two, three o'clock. Now you're starting to hear

760
00:32:43,240 --> 00:32:45,240
Speaker 4: some heavy noise, but people are like, oh shit, well

761
00:32:45,240 --> 00:32:47,000
Speaker 4: I bought it. I'm not going to sell it because

762
00:32:47,040 --> 00:32:49,400
Speaker 4: now I'd be down ten twenty percent. Think about one

763
00:32:49,480 --> 00:32:52,160
Speaker 4: two o'clock. Now you're looking at Oh shit, it's four o'clock,

764
00:32:52,200 --> 00:32:55,320
Speaker 4: five o'clock, six o'clock. The market's down fifty percent. Most

765
00:32:55,360 --> 00:32:58,000
Speaker 4: people at this point panic is set in. They're telling

766
00:32:58,040 --> 00:32:59,880
Speaker 4: you that this could be the stock market crash of

767
00:33:00,120 --> 00:33:03,760
Speaker 4: two thousands, blah blah blah. And now most people historically

768
00:33:03,920 --> 00:33:07,240
Speaker 4: sell at that six o'clock bottom of the tropicy.

769
00:33:07,440 --> 00:33:08,520
Speaker 5: So that's really.

770
00:33:08,240 --> 00:33:10,680
Speaker 4: When you get the sharks in, you get your big

771
00:33:10,720 --> 00:33:13,960
Speaker 4: Wall Street hedge fund betters in. But the average consumer

772
00:33:14,080 --> 00:33:16,680
Speaker 4: is selling when the market's low, and now the market

773
00:33:16,760 --> 00:33:18,880
Speaker 4: starts to pick back up, and straights are at zero,

774
00:33:18,920 --> 00:33:22,920
Speaker 4: there's some geopolitical event like COVID or PPP blah blah blah,

775
00:33:23,000 --> 00:33:25,280
Speaker 4: and now you're at seven o'clock, eight o'clock, nine o'clock.

776
00:33:25,560 --> 00:33:27,240
Speaker 4: Now people are like, oh shit, I might miss the

777
00:33:27,240 --> 00:33:30,080
Speaker 4: boat again. So they're starting to liquidate some other assets

778
00:33:30,080 --> 00:33:31,720
Speaker 4: so they could go back into the market, and they're

779
00:33:31,720 --> 00:33:33,840
Speaker 4: piling right back in at ten or eleven o'clock, and

780
00:33:33,880 --> 00:33:37,960
Speaker 4: they rarely sell at twelve o'clock. So that cycle keeps

781
00:33:38,120 --> 00:33:40,360
Speaker 4: happening over and over again. So you've got to look

782
00:33:40,400 --> 00:33:44,400
Speaker 4: for strategies that can take advantage and that emotion out

783
00:33:44,400 --> 00:33:46,720
Speaker 4: of it. Because I'm just as guilty as everybody else.

784
00:33:46,720 --> 00:33:49,040
Speaker 4: Look when I did that post last week, I say, look,

785
00:33:49,080 --> 00:33:51,760
Speaker 4: the market's down. My point wasn't to rush out and

786
00:33:51,800 --> 00:33:56,360
Speaker 4: cash out your entire portfolio, but it is valid to say, listen,

787
00:33:57,160 --> 00:33:58,920
Speaker 4: what we've gone through here in the past four to

788
00:33:58,960 --> 00:34:02,080
Speaker 4: five years was unidented. First of all, shutting down in

789
00:34:02,200 --> 00:34:05,040
Speaker 4: the entire world for a couple of years, then stimulating

790
00:34:05,040 --> 00:34:07,520
Speaker 4: and printing more money than we've ever printed in the

791
00:34:07,600 --> 00:34:10,800
Speaker 4: history of the of money, where more money was printed

792
00:34:10,880 --> 00:34:13,440
Speaker 4: during those years than all the previous years combined. I mean,

793
00:34:13,440 --> 00:34:15,960
Speaker 4: that's just a fascinating stat So when you throw all

794
00:34:15,960 --> 00:34:19,280
Speaker 4: these weird variables and things that have never happened before happening,

795
00:34:19,719 --> 00:34:22,239
Speaker 4: the unknown and as you know, I always like to say,

796
00:34:22,239 --> 00:34:24,759
Speaker 4: the unknown canon will happen, so be prepared for it.

797
00:34:24,840 --> 00:34:27,319
Speaker 4: So if you have the majority of your money in

798
00:34:27,320 --> 00:34:29,640
Speaker 4: a retirement account, an IRA or four one K or

799
00:34:29,680 --> 00:34:32,520
Speaker 4: even a four one K, and you can't stand the site,

800
00:34:32,560 --> 00:34:34,560
Speaker 4: like you would literally be nauseous if that thing went

801
00:34:34,600 --> 00:34:37,960
Speaker 4: down fifty percent, don't just liquidate your portfolio tomorrow, but

802
00:34:38,080 --> 00:34:40,680
Speaker 4: dollar cost average out of it. If you really want

803
00:34:40,680 --> 00:34:42,760
Speaker 4: to be risk adverse, there's ways that you can invest

804
00:34:42,840 --> 00:34:46,480
Speaker 4: your IRA into real estate. You know, self directed iras

805
00:34:46,480 --> 00:34:49,960
Speaker 4: are fascinating tool. In fact, the show before Allen that

806
00:34:50,000 --> 00:34:52,000
Speaker 4: I had on you know, we talked about that and

807
00:34:52,080 --> 00:34:54,720
Speaker 4: how you can invest your real estate or your IRA

808
00:34:54,840 --> 00:34:57,840
Speaker 4: into real estate legally, legitimately sheltered from taxes.

809
00:34:58,400 --> 00:34:59,400
Speaker 5: Most people don't know that.

810
00:34:59,480 --> 00:35:01,000
Speaker 4: They just think they have their full one K and

811
00:35:01,040 --> 00:35:02,960
Speaker 4: they have to stay in stock spots and mutual funds.

812
00:35:02,960 --> 00:35:06,400
Speaker 4: So that dollar cost averaging strategy can be utilized to

813
00:35:06,440 --> 00:35:08,760
Speaker 4: not just take a position. But if you are thinking,

814
00:35:08,800 --> 00:35:10,920
Speaker 4: you know what, maybe I got one hundred grand or

815
00:35:10,920 --> 00:35:12,719
Speaker 4: fifty grand in my IRA or four one k I

816
00:35:12,719 --> 00:35:14,520
Speaker 4: don't want to lose this money. I'd rather be there

817
00:35:14,560 --> 00:35:16,960
Speaker 4: when I retire. Or maybe I want to consider moving

818
00:35:17,040 --> 00:35:19,560
Speaker 4: it towards a fixed asset. You can do that, but

819
00:35:19,600 --> 00:35:21,839
Speaker 4: instead of just panicking and pulling the trigger now because

820
00:35:21,840 --> 00:35:22,439
Speaker 4: the market may.

821
00:35:22,360 --> 00:35:24,879
Speaker 5: Go higher dollar cost average. It does that make sense?

822
00:35:24,960 --> 00:35:26,800
Speaker 3: Yeah, yeah, for sure. I mean it's just being wise

823
00:35:26,840 --> 00:35:29,360
Speaker 3: with it. You know, it's an insurance policy for you,

824
00:35:29,719 --> 00:35:32,960
Speaker 3: and I think that it's a you know, a good

825
00:35:32,960 --> 00:35:34,719
Speaker 3: thing that you're talking about it today.

826
00:35:34,560 --> 00:35:36,239
Speaker 4: Now before we take off, do you have any other

827
00:35:36,320 --> 00:35:38,440
Speaker 4: kind of random questions, hot button questions or anything you

828
00:35:38,440 --> 00:35:39,200
Speaker 4: want to ask me? Brother?

829
00:35:40,560 --> 00:35:45,640
Speaker 3: Would you say that like because it's reading the stock

830
00:35:45,719 --> 00:35:48,480
Speaker 3: market on emotion is like would you say that's like

831
00:35:48,560 --> 00:35:52,319
Speaker 3: zigging when you're supposed to zag, Like because it seems like,

832
00:35:52,560 --> 00:35:55,560
Speaker 3: you know, everyone like hits the stock market at the

833
00:35:55,560 --> 00:35:57,600
Speaker 3: wrong time, Like you were talking about how at noon

834
00:35:58,000 --> 00:36:01,120
Speaker 3: they're getting emotional and then you know they don't want

835
00:36:01,120 --> 00:36:03,759
Speaker 3: to lose everything, so they start liquid, like getting rid

836
00:36:03,800 --> 00:36:04,759
Speaker 3: of their whole portfolio.

837
00:36:04,840 --> 00:36:08,160
Speaker 5: Like would you say that's like the average it's entertainment.

838
00:36:08,200 --> 00:36:10,960
Speaker 4: I think for most people, unless again you're you're in

839
00:36:11,040 --> 00:36:13,120
Speaker 4: it day to day like I was twelve thirteen hours

840
00:36:13,160 --> 00:36:15,759
Speaker 4: a day, unless you have seven computer screens, you know,

841
00:36:15,840 --> 00:36:19,600
Speaker 4: doing technical analysis, et cetera. For the most part, the

842
00:36:19,760 --> 00:36:22,200
Speaker 4: US stock market has been designed the fact that there's

843
00:36:22,200 --> 00:36:24,279
Speaker 4: trillions of dollars in four on and key plants, and

844
00:36:24,560 --> 00:36:26,920
Speaker 4: most people have no idea what the hell they're invested in,

845
00:36:27,040 --> 00:36:29,520
Speaker 4: what they're investing in, when, why they're doing it, what

846
00:36:29,560 --> 00:36:31,440
Speaker 4: the fees are, how they can pull their money out,

847
00:36:31,480 --> 00:36:34,120
Speaker 4: et cetera, et cetera. So, for the most part, the

848
00:36:34,239 --> 00:36:36,759
Speaker 4: stock market, for I would say eighty percent of the

849
00:36:36,800 --> 00:36:40,719
Speaker 4: average people who are investing in it, it's just pure entertainment. Unfortunately,

850
00:36:40,800 --> 00:36:43,160
Speaker 4: it's tights are something real, which is their hard earned money.

851
00:36:43,560 --> 00:36:45,799
Speaker 4: But if you think about it, you know, when the

852
00:36:45,840 --> 00:36:48,960
Speaker 4: market's completely in the toilet, everybody wants it's a water

853
00:36:49,000 --> 00:36:52,799
Speaker 4: cooler conversation, right, same thing when it's higher, everybody wants

854
00:36:52,840 --> 00:36:55,040
Speaker 4: to talk about how they were the smartest guy they

855
00:36:55,120 --> 00:36:57,360
Speaker 4: got a tip about buying this. Now, you know, with

856
00:36:57,440 --> 00:37:01,600
Speaker 4: advent of the Internet and information being more readily available,

857
00:37:01,719 --> 00:37:04,359
Speaker 4: those stock tips have kind of disappeared. A true stock

858
00:37:04,400 --> 00:37:07,560
Speaker 4: tip is most likely illegal because you're doing insider information.

859
00:37:07,760 --> 00:37:10,040
Speaker 4: But for the most part, I think you're right. I mean,

860
00:37:10,080 --> 00:37:13,560
Speaker 4: it's based on emotion. That's why my whole clock analogy

861
00:37:13,600 --> 00:37:15,200
Speaker 4: thing happens year and year out.

862
00:37:15,600 --> 00:37:16,000
Speaker 5: I like that.

863
00:37:16,120 --> 00:37:17,360
Speaker 6: I like that analogy.

864
00:37:17,400 --> 00:37:20,319
Speaker 3: I thought it broke it down for someone who, like

865
00:37:20,480 --> 00:37:23,840
Speaker 3: does can't conceptualize the stock market, like you know, like

866
00:37:23,880 --> 00:37:25,880
Speaker 3: you're young, and you know, you're trying to learn it,

867
00:37:26,239 --> 00:37:30,960
Speaker 3: and it's hard to like just even comprehend what you're seeing,

868
00:37:31,000 --> 00:37:33,880
Speaker 3: and it's just you know, it's it's technically fake, but

869
00:37:33,960 --> 00:37:36,640
Speaker 3: it's not, and you know, it's just a bit intimidating.

870
00:37:36,680 --> 00:37:39,919
Speaker 3: So I think if anyone's listening out there who had,

871
00:37:40,080 --> 00:37:43,440
Speaker 3: you know, doesn't have the understanding of the stock market

872
00:37:43,440 --> 00:37:45,600
Speaker 3: that they want, start with that analogy and then go

873
00:37:45,640 --> 00:37:47,279
Speaker 3: from there. And I think that it'll be a better help.

874
00:37:47,280 --> 00:37:49,040
Speaker 3: It's already helping me and I, you know, look at

875
00:37:49,040 --> 00:37:50,000
Speaker 3: the stock market.

876
00:37:49,760 --> 00:37:51,400
Speaker 4: And you can't set it and forget it too. A

877
00:37:51,400 --> 00:37:53,920
Speaker 4: lot of these platforms, Fidelity, TD, Amerritrade, all of those

878
00:37:53,960 --> 00:37:55,560
Speaker 4: are about the same. And I don't have anything against

879
00:37:55,600 --> 00:37:57,799
Speaker 4: either one of them, but they have great programs where

880
00:37:57,840 --> 00:37:59,960
Speaker 4: you can literally with now that the fees are so low,

881
00:38:00,320 --> 00:38:02,479
Speaker 4: you could just buy like five hundred bucks of either

882
00:38:02,520 --> 00:38:05,319
Speaker 4: the same position or an SMP index. Just buy it

883
00:38:05,360 --> 00:38:08,799
Speaker 4: on the same time every month and accumulate that. And

884
00:38:08,840 --> 00:38:10,920
Speaker 4: then if you are going to go after straight stocks,

885
00:38:11,120 --> 00:38:13,080
Speaker 4: I'm a big fan, and we'll talk about this on

886
00:38:13,280 --> 00:38:15,640
Speaker 4: another show, but buy stocks that actually.

887
00:38:15,520 --> 00:38:17,799
Speaker 5: Spit out a dividend. So you may hold.

888
00:38:17,680 --> 00:38:20,399
Speaker 4: Tesla for fifteen twenty years, but if it goes back

889
00:38:20,440 --> 00:38:21,440
Speaker 4: to where it started.

890
00:38:21,160 --> 00:38:22,880
Speaker 5: From, you now held it for twenty years.

891
00:38:23,080 --> 00:38:25,760
Speaker 4: But if you hold something like an apple or something

892
00:38:25,800 --> 00:38:27,680
Speaker 4: that at least gives you a check every month, they're

893
00:38:27,680 --> 00:38:30,160
Speaker 4: called dividends. Whether the stock goes up and down, you're

894
00:38:30,160 --> 00:38:32,279
Speaker 4: going to get that dividend. So over twenty years, you're

895
00:38:32,280 --> 00:38:34,640
Speaker 4: going to accumulate a chunk of cash as.

896
00:38:34,520 --> 00:38:36,320
Speaker 5: Well as banking on the growth of that stock.

897
00:38:36,480 --> 00:38:36,640
Speaker 3: Right.

898
00:38:36,719 --> 00:38:39,320
Speaker 4: So for the probably the biggest question I get is

899
00:38:39,360 --> 00:38:41,120
Speaker 4: how can I just get started? What's the easiest way

900
00:38:41,160 --> 00:38:43,120
Speaker 4: is just that set aside a pile of money and

901
00:38:43,239 --> 00:38:46,280
Speaker 4: thus over a time period, make it automatic, and don't

902
00:38:46,320 --> 00:38:49,240
Speaker 4: be swayed by news or emotion, because otherwise.

903
00:38:48,840 --> 00:38:51,080
Speaker 6: You're just doing it for sure, Yeah, it's a game.

904
00:38:51,120 --> 00:38:53,000
Speaker 6: You gotta be cold and calculated, you know.

905
00:38:53,200 --> 00:38:53,399
Speaker 2: Yeah.

906
00:38:54,120 --> 00:38:56,400
Speaker 4: Well, there you go, guys, that's another episode of Financial

907
00:38:56,440 --> 00:38:59,920
Speaker 4: Fridays here on CT one on one Ihearts Radio. Remember,

908
00:39:00,120 --> 00:39:02,759
Speaker 4: keep that mind right, keep that quallet tight. I'll see

909
00:39:02,760 --> 00:39:04,879
Speaker 4: you next time I'm on Financial Fridays. Until next time,

910
00:39:04,880 --> 00:39:05,279
Speaker 4: I'm out.

911
00:39:05,560 --> 00:39:08,440
Speaker 2: Thank you for listening to Financial Fridays with the Insider

912
00:39:08,480 --> 00:39:12,120
Speaker 2: Investor Tony Kay on Cannabis Talk one oh one, the

913
00:39:12,239 --> 00:39:15,960
Speaker 2: world's number one source for everything cannabis.