WEBVTT - EYL #15 Wolf of Wall Street 0:00:00.400 --> 0:00:03.120 Coach, the energy out there felt different. What changed for 0:00:03.160 --> 0:00:03.800 the team today? 0:00:03.880 --> 0:00:06.000 It was the new game day scratches from the California 0:00:06.080 --> 0:00:07.080 Lottery players. 0:00:07.120 --> 0:00:07.520 Everything. 0:00:07.840 --> 0:00:09.840 Those games sent the team's energy through the roof. 0:00:09.880 --> 0:00:11.880 Are you saying it was the off field play that 0:00:11.920 --> 0:00:13.000 made the difference on the field. 0:00:13.119 --> 0:00:15.840 Hey, little play makes your day, and today it made 0:00:15.880 --> 0:00:19.079 the game. That's all for now, coach, one more question. 0:00:19.000 --> 0:00:21.800 Play the new Los Angeles Chargers, San Francisco forty nine 0:00:21.880 --> 0:00:24.960 ers and Los Angeles Rams scratchers from the California Lottery. 0:00:25.040 --> 0:00:28.160 A little play can make your day. Peace made responsibly. 0:00:28.240 --> 0:00:53.720 Must be eighteen years or older to purchase late or claim. 0:00:53.760 --> 0:00:58.440 All Right, guys, welcome back Earnie a Lisia episode fifteen 0:00:58.480 --> 0:00:59.920 weeks two. That's my favorite number. 0:01:00.280 --> 0:01:02.080 Yeah, that's the trust free will. 0:01:02.200 --> 0:01:04.200 Yeah, we need to play for Golden State. 0:01:04.319 --> 0:01:06.840 That was your guy. Yeah that's a fact. 0:01:06.840 --> 0:01:09.840 That's a fact. So yes, you know. Once again, thank 0:01:09.880 --> 0:01:11.800 you guys for rocking with us. We appreciate you know, 0:01:11.880 --> 0:01:15.000 thank you for your support, all your encouraging words. 0:01:15.080 --> 0:01:15.360 DM. 0:01:15.480 --> 0:01:18.880 So today is a very very very special episode because 0:01:19.959 --> 0:01:22.160 everybody's been asking us to cover stocks. 0:01:22.480 --> 0:01:24.800 Can we what do we do? Can you teach us 0:01:24.800 --> 0:01:26.360 about it what should we invest in? 0:01:26.720 --> 0:01:30.520 Yeah, everybody's been asking us to cover stocks. So you know, 0:01:30.680 --> 0:01:34.080 real estate is real trendy right now. Everybody on Instagram 0:01:34.200 --> 0:01:37.960 and all over social media and YouTube, everybody's real estate investor. 0:01:38.040 --> 0:01:39.960 And it's cool, it's encouraging because you know, we need 0:01:40.000 --> 0:01:43.240 to invest in real estate. But nobody's really talking about 0:01:43.280 --> 0:01:46.040 stocks really, right, And that's one of the ways where 0:01:46.200 --> 0:01:48.640 most of the wealth in this country has been generated 0:01:48.640 --> 0:01:51.840 for generations in the stock market, right, ownership of companies. 0:01:51.880 --> 0:01:55.800 So we want to educate you guys on every area 0:01:56.000 --> 0:01:59.280 of finance and provide information so hopefully you know you 0:01:59.280 --> 0:02:01.640 can take that and make some money with it. 0:02:01.720 --> 0:02:01.800 Right. 0:02:02.120 --> 0:02:04.960 So so today we have an expert in the field 0:02:04.960 --> 0:02:08.280 and stock market field, friend of ours, friend of ours. 0:02:09.040 --> 0:02:13.120 So I'll give a quick backstory, right, So Quainn Martin, 0:02:13.760 --> 0:02:22.799 we started off rivals something like playing basketball, playing basketball, 0:02:22.800 --> 0:02:27.679 a cross crosstown rivals and you know, like myself, he 0:02:27.720 --> 0:02:30.480 went on to play Division one basketball and had a 0:02:30.480 --> 0:02:35.400 great career in college and he went to finance after college. 0:02:35.560 --> 0:02:37.760 He'll tell his own story. But you know, I always 0:02:37.800 --> 0:02:39.360 see Q all the time I was from Q. I 0:02:39.360 --> 0:02:41.440 see him all the time in the gym or health 0:02:41.480 --> 0:02:44.120 the end met and he always like, all this story, 0:02:44.160 --> 0:02:46.040 you didn't you didn't say it right, or you need 0:02:45.560 --> 0:02:49.920 to need to add some more to it, so you know, 0:02:49.960 --> 0:02:52.520 it's still soft and still so he's real knowledgeable. When 0:02:52.639 --> 0:02:54.040 I see him in the gym, he tells me these 0:02:54.080 --> 0:02:56.840 stories about all of these companies. I'm like, how do 0:02:56.840 --> 0:02:58.520 you notice stuff like this? Stuff that I don't even 0:02:58.560 --> 0:03:00.480 know when I'm in finance. So I'm like, we got 0:03:00.480 --> 0:03:02.080 to get you on the podcast to tell this to 0:03:02.120 --> 0:03:05.840 the people. So we did that. He's got him on 0:03:05.840 --> 0:03:09.800 the podcast. So yes, he's he's an expert in the field. 0:03:09.800 --> 0:03:12.120 No Series seven for anybody who's not familiar that allows 0:03:12.160 --> 0:03:15.160 you to sell securities. He's very knowledgeable about stock market 0:03:15.320 --> 0:03:19.560 worked for a lot of the top companies in Wall Street. 0:03:20.639 --> 0:03:22.519 So so yeah, man, thanks for coming. 0:03:22.400 --> 0:03:24.160 Thank you, thank you guys for having me. Man, it's 0:03:24.160 --> 0:03:24.600 a pleasure. 0:03:24.680 --> 0:03:27.200 Yeah. Yeah, can you just tell you telling people your 0:03:27.200 --> 0:03:28.959 story because you was telling us off off here a 0:03:29.000 --> 0:03:31.200 little bit about how you got into you know, finance 0:03:31.200 --> 0:03:34.160 and or Wall Street and all that, and it's actually encouraging. 0:03:34.240 --> 0:03:35.000 So can you just. 0:03:35.800 --> 0:03:38.800 Yeah, I have a bit of a I want to 0:03:38.800 --> 0:03:43.640 say movie script way I was, I want to say, 0:03:43.640 --> 0:03:47.920 in high school the career c student, not because I 0:03:47.960 --> 0:03:50.640 wasn't intelligent, but because basketball is kind of a crutch 0:03:50.680 --> 0:03:52.560 for me. Like I was really really good at basketball. 0:03:52.960 --> 0:03:55.240 So it was like, all right, I'm going to the league, right, 0:03:55.280 --> 0:03:58.360 Like you think to yourself, I'm all stayum averaging twenty 0:03:58.560 --> 0:04:00.720 and you're going to do these things and you're gonna 0:04:00.760 --> 0:04:04.040 go to the league being next to Lebron And that's 0:04:04.080 --> 0:04:07.120 not the reality for most kids, but your dream big. 0:04:08.080 --> 0:04:11.240 When I got to college, I spoke with my advisor 0:04:11.760 --> 0:04:14.680 about twenty minutes or so, and she hadn't looked at 0:04:14.720 --> 0:04:17.000 my profile yet. We just were just having a general 0:04:17.040 --> 0:04:20.760 convo and she then looks down after twenty minutes and goes, 0:04:22.880 --> 0:04:25.720 you got a lot more intelligent than your grades would 0:04:25.760 --> 0:04:29.040 lead me to believe. And the wonderful thing about college 0:04:29.120 --> 0:04:31.960 is that it starts back at zero. And for me, 0:04:32.200 --> 0:04:35.680 that reset things and I took school a lot more 0:04:35.760 --> 0:04:37.640 serious than I did in high school. When I was 0:04:37.640 --> 0:04:41.159 in college, and that opened some doors. Being a captain 0:04:41.200 --> 0:04:43.320 of the team, I was able to go to some 0:04:43.360 --> 0:04:46.440 dinners to represent the team, and being there I would 0:04:46.440 --> 0:04:48.600 meet people and they would get me business cards from 0:04:48.640 --> 0:04:53.599 different aspects, right, architecture and accounting and law, And through 0:04:53.640 --> 0:04:55.920 all of that, I ended up going to a couple 0:04:55.960 --> 0:04:58.880 of different scholarship dinners and a gentleman who worked on 0:04:58.920 --> 0:05:01.120 Wall Street with ex that's what a player goes, Hey, 0:05:01.640 --> 0:05:05.159 you remind me of myself at your age. But I 0:05:05.160 --> 0:05:07.040 don't know how bad you you want it, and I 0:05:07.080 --> 0:05:09.000 don't really know what you want to do. But are 0:05:09.000 --> 0:05:11.240 you interested in finance? It's very similar to sports. And 0:05:11.279 --> 0:05:13.680 I go, yeah, it's cool. You know, I'm twenty one, 0:05:14.160 --> 0:05:19.599 sounds good looking, dressed nice, and I was a marketing major. 0:05:19.600 --> 0:05:23.560 I was a business major, you know, so financearching on 0:05:23.600 --> 0:05:26.520 my radar as a whole, but business and everything else 0:05:26.680 --> 0:05:30.520 was so it kind of stuff together. He said, listen, 0:05:30.560 --> 0:05:32.000 I want you to call me every day for a 0:05:32.120 --> 0:05:35.159 month at five in the morning, not five oh one, 0:05:35.560 --> 0:05:38.400 not four fifty nine five on the dot. So I 0:05:38.480 --> 0:05:41.520 called him every day for a month at five in 0:05:41.600 --> 0:05:44.360 the morning, and I got down on the Wall Street 0:05:44.360 --> 0:05:46.200 and I got an internship, and I was able to 0:05:46.320 --> 0:05:48.839 work and really get a feel for the industry and 0:05:48.839 --> 0:05:52.120 the business and fell in love with it. And it's 0:05:52.200 --> 0:05:54.600 very similar to Will Smith puit of happiness because at 0:05:54.600 --> 0:05:58.040 that time, this is rec real stuff. At that time, 0:05:58.720 --> 0:06:01.280 I had one suit, I had a Sean John shirt 0:06:01.279 --> 0:06:04.239 with the French cuffs. I didn't know how to tie tie, 0:06:04.279 --> 0:06:08.120 and I didn't have a shave up. Looked like you're 0:06:08.160 --> 0:06:14.120 having this. I didn't belong. But my basketball competitiveness did 0:06:14.160 --> 0:06:17.760 not allow me to quit or not worked my potential 0:06:18.800 --> 0:06:21.640 and that opened a lot of doors and kind of 0:06:21.720 --> 0:06:24.479 led me to where I am here today and it's 0:06:24.480 --> 0:06:25.240 been a blessing. 0:06:25.520 --> 0:06:27.360 No, that's that's a dope story because when you said 0:06:27.360 --> 0:06:29.000 you had to call every day for five o'clock in 0:06:29.000 --> 0:06:32.200 the morning, first of all, I'm not even up the 0:06:32.200 --> 0:06:37.040 five o'clock nine people. But you know, that just shows 0:06:37.040 --> 0:06:38.719 And I'm pretty sure that the reason why that gentleman 0:06:38.760 --> 0:06:40.560 told you to do that is, you know, people just 0:06:40.560 --> 0:06:42.479 test you sometimes, right and they see like, okay, how 0:06:42.520 --> 0:06:44.680 serious are you want it? And people always say like 0:06:44.680 --> 0:06:46.120 I want to do that. It's like when Derek, we 0:06:46.160 --> 0:06:49.520 had Derek episode eleven, that was a great episodef They 0:06:49.560 --> 0:06:51.560 might an't check it out, but he pretty much said 0:06:51.560 --> 0:06:54.600 that people want to get rich with contingencies. They don't 0:06:54.600 --> 0:06:56.640 really want to put the work in. Right, it sounds 0:06:56.640 --> 0:06:59.479 good to start a business or to be successful, but 0:07:00.160 --> 0:07:01.919 they're lazy. They don't want to they don't want to 0:07:01.920 --> 0:07:02.359 put the work in. 0:07:02.400 --> 0:07:04.400 That's what I was telling I was telling C, like, 0:07:04.680 --> 0:07:07.160 this is the premise for earn your leisure, Like all 0:07:07.200 --> 0:07:08.839 the hard work that you've put in, those things that 0:07:08.880 --> 0:07:10.960 they've tested you to do, that sweat equity that no 0:07:11.000 --> 0:07:13.240 one sees, right, they just see the end result. 0:07:13.440 --> 0:07:15.640 But you've earned what you've done, you know what I mean. 0:07:15.640 --> 0:07:16.360 So that's dope. 0:07:16.360 --> 0:07:18.240 You gotta work, you gotta work. So all right, So 0:07:18.760 --> 0:07:21.520 Earner LIS is kind of like the college course every week. 0:07:21.600 --> 0:07:23.400 So this week is gonna be about stocks, and we're 0:07:23.400 --> 0:07:25.240 gonna break it into three segments and we're gonna do 0:07:25.320 --> 0:07:27.520 like a beginner's one on one. Then we're gonna do 0:07:27.560 --> 0:07:29.360 more advanced, and then we'll just take it to the 0:07:29.360 --> 0:07:33.440 next level on the third chapter. So I'll start the 0:07:33.440 --> 0:07:35.160 conversation if we're talking about stocks. This is how I 0:07:35.240 --> 0:07:38.000 kind of explain stocks when I teach it to my students. 0:07:39.240 --> 0:07:43.000 That it's kind of like a giant pizza pot, right, 0:07:43.000 --> 0:07:46.520 with like a million different slices, and then each slice 0:07:46.560 --> 0:07:49.200 represents a share of a company, right. And then if 0:07:49.240 --> 0:07:52.960 you buy one slice of Nike, now you're part owner 0:07:53.000 --> 0:07:53.400 of Nike. 0:07:53.600 --> 0:07:53.840 Right. 0:07:54.000 --> 0:07:56.400 And then obviously the more slices that you buy in 0:07:56.480 --> 0:07:59.240 the pie, you have a larger ownership of that pie. 0:07:59.320 --> 0:07:59.440 Right. 0:08:00.400 --> 0:08:03.240 But all publicly traded companies, that's on you know, the 0:08:03.280 --> 0:08:07.840 stock market, anybody can become an owner, and by buying ownership, 0:08:07.840 --> 0:08:11.320 whether it's in Snapchat or Facebook or Google, now you're 0:08:11.320 --> 0:08:13.400 a part owner of that company. And if the company 0:08:13.440 --> 0:08:15.560 does well, then the stock price goes up. If it 0:08:15.600 --> 0:08:18.000 doesn't do well, stock price goes down. And that's kind 0:08:18.000 --> 0:08:20.160 of like a real easy way to understand it. But 0:08:20.800 --> 0:08:22.040 I think that's kind of my take on it. 0:08:22.240 --> 0:08:24.680 I think that's like the baseline premise of it, like right, 0:08:24.680 --> 0:08:26.840 like it's we want to own shares, like we know 0:08:26.960 --> 0:08:30.480 what shares are, then we want to delve into Okay, 0:08:30.640 --> 0:08:33.560 what are we owning? Why are we owning? Right? We 0:08:33.640 --> 0:08:36.880 got the how? Right? We can go to different places 0:08:37.080 --> 0:08:41.840 be an e trade and share a builder and schwab. 0:08:41.120 --> 0:08:44.440 And can we just talk about that because a lot 0:08:44.720 --> 0:08:47.240 people might not know. I'm glad you brought that up 0:08:47.280 --> 0:08:49.080 because I get that question sometimes too, Like how do 0:08:49.120 --> 0:08:52.320 you buy stock. So it's relatively easy to do now, right, 0:08:52.440 --> 0:08:56.280 Like they have apps like Robinhood, like you said, Scotch Trade, 0:08:56.920 --> 0:08:59.040 e Trade, stuff like that. We can just go online 0:08:59.080 --> 0:09:02.160 and create a using ain't password and you know, the 0:09:02.280 --> 0:09:03.920 link it to your bank account and you can just 0:09:03.960 --> 0:09:06.679 buy stock. That part is relatively easy to do. But 0:09:07.280 --> 0:09:09.280 the next part is what people stumble because the thing 0:09:09.280 --> 0:09:11.440 that I think people have problems with stock is that, Okay, 0:09:11.920 --> 0:09:14.320 they know how to do it, but what stock do 0:09:14.400 --> 0:09:16.880 I buy? Right? It's kind of like just throwing darts 0:09:16.880 --> 0:09:18.480 at the board blind. So what you end up just 0:09:18.559 --> 0:09:22.200 randomly picking Netflix hoping it goes up right. So, like 0:09:22.240 --> 0:09:24.240 you you have something interested in, you said to us, 0:09:24.320 --> 0:09:27.120 as far as like when looking at stock, it's good 0:09:27.160 --> 0:09:29.439 to know, like what you're interested in? Can you just 0:09:29.480 --> 0:09:30.000 talk about that? 0:09:30.080 --> 0:09:32.520 I think the biggest thing for me to help me 0:09:32.640 --> 0:09:36.520 learn was picking areas of interest because the knowledge sticks. Right. 0:09:36.520 --> 0:09:39.480 We all had classes in school that we didn't like, 0:09:39.480 --> 0:09:41.240 Like we didn't like I like earth science and I 0:09:41.360 --> 0:09:44.120 really like science. Like it didn't stick even though like 0:09:44.160 --> 0:09:46.360 you know, you pass the class, get a bad or whatever, 0:09:46.400 --> 0:09:48.160 you ain't get in the class, right, but the information 0:09:48.240 --> 0:09:51.200 didn't stick. With me because it wasn't an interesting topic 0:09:51.280 --> 0:09:53.160 and you said to get yeah, you kind of want 0:09:53.200 --> 0:09:55.839 to get through it in this forum, right. I want 0:09:55.880 --> 0:09:58.160 to pick something that I'm interested in because when I 0:09:58.240 --> 0:10:00.320 read it, I'm going to retain it. I'm gonna hold 0:10:00.360 --> 0:10:01.960 on to it. I'm gonna build on top of it. 0:10:02.040 --> 0:10:04.200 So you're kind of an architect, right, I say. My 0:10:04.480 --> 0:10:07.160 model for myself every day is that I'm the architect 0:10:07.200 --> 0:10:09.840 of my legacy, right, and every day I'm putting a 0:10:09.920 --> 0:10:13.080 brick down from my legacy because you don't get to 0:10:13.120 --> 0:10:15.520 tell people to say you're not here. So the same 0:10:15.559 --> 0:10:18.120 thing goes forward every other place of life, where it's like, 0:10:18.120 --> 0:10:20.600 all right, I'm the architect of my portfolio. I'm the 0:10:20.679 --> 0:10:23.880 architect of my knowledge base. I'm the architect of whatever 0:10:24.040 --> 0:10:27.240 is I'm doing. I'm building and it's never gonna be finished. Right, 0:10:27.280 --> 0:10:29.280 It's like a skyscraper. You're just gonna keep on building 0:10:29.280 --> 0:10:32.679 on top of building. Your interest is what's gonna lead 0:10:32.720 --> 0:10:35.320 you to adding more bricks. Because if you're interested in tech, 0:10:35.880 --> 0:10:38.640 well somehow you'll probably end up in media, right, And 0:10:38.880 --> 0:10:40.640 if you're interested in that, you might end up in 0:10:40.679 --> 0:10:43.360 telecom and all so on, and so forth right, and 0:10:43.360 --> 0:10:45.960 all of a sudden, you have this wide knowledge base 0:10:46.400 --> 0:10:49.439 because you started here, but your interests help you build 0:10:49.480 --> 0:10:52.040 more bricks to kind of build your mental skyscraper, if 0:10:52.080 --> 0:10:54.719 that makes sense. So I always said it start there 0:10:54.800 --> 0:11:00.000 because you want to own this actual stuff, right, Facebook, Amazon, Netflix, Google, 0:11:00.080 --> 0:11:02.319 We want the sexy names. It'll go to your friends 0:11:02.360 --> 0:11:06.400 and say, hey, yeah, you know I owned Facebook, right 0:11:06.440 --> 0:11:10.080 and sexy everybody wants to own that. But the most 0:11:10.080 --> 0:11:13.640 important thing is starting off with interest so that you 0:11:13.679 --> 0:11:16.440 can build a knowledge base and you can start to 0:11:16.440 --> 0:11:20.120 build your own mental skyscraper that's going to hopefully take 0:11:20.200 --> 0:11:24.880 you places financially and mentally where you're growing in both spaces. 0:11:25.200 --> 0:11:28.360 So that's like Warren Buffett like his approaches. He invests 0:11:28.360 --> 0:11:33.199 in companies that he understands, right. So I always tell kids, 0:11:33.200 --> 0:11:35.800 like once again in the class, like okay, what do 0:11:35.800 --> 0:11:39.080 you have on your feet? Everybody that has Nike or Adidas, right, 0:11:39.240 --> 0:11:41.679 So it's like, Okay, you understand the brand because you 0:11:42.040 --> 0:11:43.800 spend all your money on it, right, So it's not 0:11:43.920 --> 0:11:45.839 like it's not foreign to like, you don't have to 0:11:45.880 --> 0:11:48.600 be a rocket scientist to figure out Okay, Kanye just 0:11:48.600 --> 0:11:50.640 did a deal with Adidas, or Beyonce just did a 0:11:50.679 --> 0:11:53.240 deal with a didas Adidas is hot right now, or 0:11:53.679 --> 0:11:57.760 Nike Lebron signed he got Jordan's coming out. So these 0:11:57.760 --> 0:12:00.440 are things that we understand and we don't have to 0:12:00.480 --> 0:12:03.520 be a stock market analyst to know that I'm already 0:12:03.559 --> 0:12:06.480 investing money in these companies by buying Yeah, why not 0:12:07.080 --> 0:12:08.160 in the actual company in the. 0:12:08.120 --> 0:12:10.200 Sense you're you're making the trend, right, So there's a 0:12:10.240 --> 0:12:12.560 reason why that company would up, whether it be like 0:12:12.600 --> 0:12:15.640 the iPhone, right it would raise applestock, or if Nike's 0:12:15.640 --> 0:12:16.960 putting out a new product or do you just put 0:12:17.040 --> 0:12:17.640 out a new product. 0:12:17.800 --> 0:12:19.719 We are the trend makers, you know what I mean? So, 0:12:19.760 --> 0:12:21.200 like that was one. That's one of the key things 0:12:21.200 --> 0:12:21.480 we say. 0:12:21.520 --> 0:12:24.160 So after we tell them, hey, this is what a 0:12:24.200 --> 0:12:27.640 share is, the next thing is like investing put money 0:12:27.679 --> 0:12:29.440 in what you already are invested in. 0:12:29.520 --> 0:12:31.560 So if it's arising as your phone. 0:12:31.320 --> 0:12:33.120 Company, then maybe you should have stock in that, or 0:12:33.120 --> 0:12:36.160 if it's Sprint whoever it is, right investing yourself. 0:12:35.960 --> 0:12:37.959 Yeah, and that's the biggest thing, right, Like we want 0:12:38.000 --> 0:12:40.440 to understand what we invest in. Like, no one likes 0:12:40.480 --> 0:12:42.960 an investment where you kind of don't understand what's going on, 0:12:43.440 --> 0:12:46.160 and it's kind of like gambling. Now it's not an investment. 0:12:46.160 --> 0:12:48.400 Now you're just gambling. And for all that you can 0:12:48.440 --> 0:12:51.520 go put their money on black and A see. I 0:12:51.559 --> 0:12:53.880 think I hope for the best. But when look at 0:12:53.920 --> 0:12:58.600 these companies, it's very key to understand why a company 0:12:58.640 --> 0:13:01.839 goes up or why a company goes down. The stock 0:13:01.920 --> 0:13:04.640 market is very similar to fashion. Right, I'm willing to 0:13:04.679 --> 0:13:06.800 pay the extra twenty dollars for Nike as opposed to 0:13:06.840 --> 0:13:10.000 Undam or why because it's Nike is a little bit cooler, right, 0:13:10.080 --> 0:13:12.520 And that's the thing you're paying for. I call it 0:13:12.600 --> 0:13:15.520 social equity. What I have on and what I'm dressed in. 0:13:15.920 --> 0:13:19.080 I have on Nike, Adidas, I have on Gucci, I 0:13:19.080 --> 0:13:21.160 have on Product. There's a reason why those items are 0:13:21.160 --> 0:13:24.400 priced in those spaces. They know people are buying, right, 0:13:24.480 --> 0:13:26.560 and we all know it's the same factory that makes 0:13:26.559 --> 0:13:28.120 some and they just put a tag on on. But 0:13:28.160 --> 0:13:31.280 you're willing to spend one hundred dollars more for this tag, 0:13:31.440 --> 0:13:34.240 right than the other tag because you want the social 0:13:34.240 --> 0:13:37.160 equity of somebody saying, okay, he looks good, Okay, I 0:13:37.240 --> 0:13:39.640 see him, and that's what you're buying. So you have 0:13:39.679 --> 0:13:42.640 to also know why this company's going up, why it's 0:13:42.679 --> 0:13:46.640 going down. And that goes back to interest, right, sweat equity. 0:13:46.720 --> 0:13:48.720 I need to now read You said. 0:13:48.520 --> 0:13:50.680 That you have to learn how to read and know 0:13:50.800 --> 0:13:53.160 the interest. Okay, you're interested in one thing, but now 0:13:53.200 --> 0:13:55.760 how do you actually examine to see if this is 0:13:55.800 --> 0:13:57.000 actually worth buying or not? 0:13:57.120 --> 0:13:57.280 Right? 0:13:57.520 --> 0:14:00.720 So you can read, but like what do you read? 0:14:00.720 --> 0:14:03.280 How do you know if something is actually worth flying 0:14:03.400 --> 0:14:03.640 or not? 0:14:03.800 --> 0:14:07.839 Social equity the social It's kind of a term I 0:14:08.480 --> 0:14:13.640 coined myself because I always look shopping. Yeah, that's not sure? 0:14:14.720 --> 0:14:16.720 Is it something I look like go shopping? Or just 0:14:16.760 --> 0:14:18.800 in life? Right? What kind of car you drive? And 0:14:18.840 --> 0:14:20.480 what kind of house do you live in? What town 0:14:20.520 --> 0:14:22.400 do you live in? What do you have in your house? 0:14:22.840 --> 0:14:25.560 People are very much into the social aspect, right, Like 0:14:25.680 --> 0:14:28.360 social media, you don't even really see the highlights. So 0:14:28.400 --> 0:14:33.360 it's like ESPN Top ten over again, right, No one 0:14:33.400 --> 0:14:35.720 ever kind of sees the grind and the failure and 0:14:35.760 --> 0:14:38.200 the ups and the downs and the ebbs and the flows. Right, 0:14:38.200 --> 0:14:40.920 we just see somebody pop up and they have all 0:14:40.960 --> 0:14:43.880 this stuff. How'd you get it right, but we don't 0:14:43.920 --> 0:14:47.040 care what the social equity says. I want that now, 0:14:47.080 --> 0:14:48.880 but you don't understand what that person went through to 0:14:48.920 --> 0:14:51.440 get or how they got, or they could be lying 0:14:51.520 --> 0:14:54.240 whatever it is. The idea is that people want to 0:14:54.240 --> 0:14:58.160 feel accepted. No one ever wants to be the dumbest 0:14:58.200 --> 0:15:00.600 person in the room. People are k with being the 0:15:00.600 --> 0:15:02.320 second dumbest person in the room because he's like, well 0:15:02.360 --> 0:15:04.360 you dumb, or so you know what, I with him 0:15:04.360 --> 0:15:06.680 being dumb. I'm not the numbest person in the room, right, 0:15:06.680 --> 0:15:09.960 But no one ever thinks past that. And so the 0:15:10.000 --> 0:15:12.360 idea is to get people to critically think. Because a 0:15:12.360 --> 0:15:14.600 lot of the things that we do habitually on a 0:15:14.640 --> 0:15:16.840 day to day basis, these are our habits, right. We 0:15:16.880 --> 0:15:19.160 don't ask any questions. Your mom says, when you grow up, 0:15:19.600 --> 0:15:21.840 brush your teeth in the morning, why not the afternoon. 0:15:22.160 --> 0:15:24.760 We were never not programming the question. Things are program 0:15:24.880 --> 0:15:26.880 just to accept them the way they are. That's not 0:15:26.920 --> 0:15:29.680 that stock market works. A stock could be a goodbye, 0:15:29.760 --> 0:15:33.200 and it could be going down right for other reasons 0:15:33.200 --> 0:15:36.840 that have nothing to do with why you think it 0:15:36.840 --> 0:15:38.920 should go down or why I think it should go down. 0:15:39.040 --> 0:15:41.920 So that's the part that I'm getting at. So what 0:15:42.120 --> 0:15:44.440 could make it, you know, broad range? What can make 0:15:44.440 --> 0:15:46.080 a stock go up? What can make a stock go down? 0:15:46.160 --> 0:15:49.720 Other than what's obvious to the naked. 0:15:49.480 --> 0:15:52.920 Eye or something like that. No, it's just perceptional. Like 0:15:53.000 --> 0:15:55.680 think about the market, right, This is all a gazi. Right, 0:15:55.760 --> 0:16:00.200 So as a CEO will get certain bonuses if a 0:16:00.200 --> 0:16:03.120 stock has certain peaks, right, this is okay, you're the 0:16:03.120 --> 0:16:05.680 CEO of ABC company, and they'll say you listen, if 0:16:05.720 --> 0:16:08.280 you can get the shares up to thirty dollars a 0:16:08.360 --> 0:16:12.160 share and hold it around this range for four months, 0:16:12.160 --> 0:16:14.240 we'll give you ten million dollars and then so on 0:16:14.320 --> 0:16:17.160 and so forth with getting the share price up. But 0:16:17.240 --> 0:16:19.160 it's all kind of like a figazzi. Why is it 0:16:19.280 --> 0:16:22.160 that price? Why is up? Wise? Down? Right? Forgets supply 0:16:22.200 --> 0:16:25.040 and demand and volume. A lot of it's just perception 0:16:25.080 --> 0:16:27.680 of the market. It's what the market perceives, what big 0:16:27.760 --> 0:16:32.160 money perceives, what somebody thinks, right, we get information. Now, 0:16:32.200 --> 0:16:35.440 if you own three shares at Apple and you like 0:16:36.000 --> 0:16:39.400 their third quarter earnings call, he owns one hundred million 0:16:39.440 --> 0:16:41.360 dollars Apple and he hates it. Who has more effect 0:16:41.400 --> 0:16:45.080 on how the stock goes, he does because he has 0:16:45.160 --> 0:16:47.600 more equity in the stock, so he has more say 0:16:47.680 --> 0:16:50.120 so in terms of how it moves. Even though you 0:16:50.200 --> 0:16:52.040 might be right with your three shares, he might be 0:16:52.080 --> 0:16:54.400 rolling in his perception right. So all this stuff is 0:16:54.440 --> 0:16:57.960 perception based, and that's why the sweat equity of actually 0:16:58.000 --> 0:17:02.080 reading and engal from yourself the subject matter of interest 0:17:02.600 --> 0:17:05.720 is going to help you understand the company. And if 0:17:05.720 --> 0:17:08.879 you understand Apple, it's going to be easy to understand Google, 0:17:08.960 --> 0:17:11.400 It's going to be easier to understand Amazon. It's going 0:17:11.440 --> 0:17:14.720 to be easier to understand any other kind of tech 0:17:14.760 --> 0:17:18.159 brand because the model of how they distribute their products, 0:17:18.200 --> 0:17:21.320 their ideas, and their messages they're not like the same same, 0:17:21.480 --> 0:17:23.840 but they're really similar, and it's going to help you 0:17:23.880 --> 0:17:27.720 pick up on ideas. Facebook used and tactic called a 0:17:27.760 --> 0:17:32.000 little bighorn right, and they went into Texas. They went 0:17:32.080 --> 0:17:34.879 to University of Texas and said, hey, we want to 0:17:34.920 --> 0:17:38.840 give y'alls Facebook. The University of Texas said not, We're 0:17:38.920 --> 0:17:43.040 University of Texas. We're good. So they went to Texas 0:17:43.040 --> 0:17:47.240 A and M Texas State, SMU every school in Texas 0:17:47.280 --> 0:17:49.600 around and gave them Facebook to the point where students 0:17:49.600 --> 0:17:52.200 at Texas said, Yo, why we have Facebook? And the 0:17:52.240 --> 0:17:55.000 Texas was just forced to do business with Facebook. That 0:17:55.080 --> 0:17:57.200 happens in business all the time, Right, It's something we 0:17:57.240 --> 0:18:00.480 don't pay attention to. But these triggers and levers to happen. 0:18:00.840 --> 0:18:03.200 You'll start to notice as you read. And I said, 0:18:03.240 --> 0:18:05.359 you build the brick, right, you're building when you get 0:18:05.400 --> 0:18:07.120 to the second floor, you go, I get that. Now 0:18:07.440 --> 0:18:09.600 I can now read tea leaves. I've seen this coming, right, 0:18:09.680 --> 0:18:13.240 I see what possibly can happen. I don't know what's 0:18:13.280 --> 0:18:15.960 going to happen, but I can have an idea based 0:18:16.000 --> 0:18:18.120 on how well I know it. You play ball, if 0:18:18.119 --> 0:18:20.600 I come down, I go in and out. I'm either 0:18:20.600 --> 0:18:23.200 gonna cross or I'm gonna go straight. So as a defender, 0:18:23.240 --> 0:18:25.000 you know what I'm gonna do, or have an idea 0:18:25.080 --> 0:18:27.520 so you can react a little faster. Right, it's the 0:18:27.560 --> 0:18:29.119 same thing that we use every day. 0:18:29.160 --> 0:18:31.399 I'm gonna go backwards just a little bit because you 0:18:31.400 --> 0:18:34.080 said reading and that's important. On the last episode, on 0:18:34.080 --> 0:18:36.240 episode fourteen, we talked about the importance of reading and 0:18:36.520 --> 0:18:38.919 a lot of times we get discounted because we're not reading. 0:18:39.640 --> 0:18:40.639 The catcher and the Rye. 0:18:40.720 --> 0:18:43.560 Right, what publications should we be reading if we're trying 0:18:43.600 --> 0:18:45.040