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Andrew Stotz: My Worst Investment Ever

My guest comes from a twenty-year career with various investment banks. He decided one day to pick up and move all the way to Thailand to teach finance and analyze the markets.

He launched Valuation Masterclass and My Worst Investment Ever podcast, and also a book with the same title to help future generations reduce their investment risks by learning through the stories of others.

Our guest is Dr. Andrew Stotz.

You're absolutely going to love this episode. We cover quite the gamut here. We're going to talk about worst investments ever. We're also going to talk about six ways people lose their money.

If you have lost money, you'll be able to identify. Also, if you're concerned about losing money or mitigating your risk, you're going to want to hear the six ways people lose their money. We also are going to break this down and make this really simple.

We've got three strategies for investing for people that don't call themselves investors but would love the idea of passive income or even active income from investments. We also get into what is the next big market? What should you be thinking about? We talked about valuing companies, assessing risk and about Dr. Deming and the Quality Movement and why it's important for you to know about that.

Dustin
Andrew, you left behind the corporate world and a management career at Pepsi Cola in California to move all the way around the world to Thailand to teach Finance. Why does one do that? Why do you leave behind the security to move all the way around the world into a new country?
Andrew
My question is why would someone stay in the same place where they grew up, where they lived and live their life working in that one place? It baffles me. The world is huge. There are many people, many cultures, many things to see. When I was graduating from the university at Cal State Long Beach, the world was amazing. I’m thinking about all the places I could go and see. I couldn't figure out why not to do it.
Dustin
I love your viewpoint on the world. It's one thing to take that leap, but you've been over on that part of the world for 20, 30-plus years.
Andrew
That’s where it starts getting a little bit different. Once I came to Thailand, I made a commitment to myself to say, “You’ve got to give something like that 3 to 5 years.” I gave it 3 to 5 years and I managed to make a career as a financial analyst within one year I started and then I rose very quickly in this stock market in Asia and in Thailand. Eventually, that turned into a fantastic career with great people around in a developing country. I had started one of my businesses. It’s a coffee factory and my best friend and I had started that in 1995. We ran out of reasons to leave.
Dustin
You put the roots down and you love the developing country and the people. Do you envision that you're going to be there forever or are there other countries that you've got on your list?
Andrew
I suspect I’ll be in Thailand for the rest of my life. I'm interested in China. As a result, I went and did my PhD at a university there. I was doing a lot of commuting to go back and forth between my business in Thailand and studying that PhD. That definitely opened me up to China. There are very interesting, fascinating and amazing opportunities there. I'm traveling around other countries in Asia. I’m in Manila, Philippines meeting with a client of mine.
Dustin
You mentioned the coffee company that you had started and I know we're going to spend a great deal talking about finance. We're going talk about investments here. I wanted to zero in on this entrepreneurial activity that you've been going at for quite some time now. What did you see in the marketplace? What was that opportunity to say, “I'm going to go and take a shot over here, I'm going to start a coffee company in a whole another country?”
Andrew
The thing that's weird about it is that I left my corporate job at Pepsi, took an 80% pay cut to move to Thailand and took a job as a lecturer at a university. I was a full-time faculty member at a university in Bangkok. I stumbled into the stock market having studied finance and I became an analyst in the stock market. My best friend visited me. We grew up together in Ohio. He was studying Japanese in Japan. Dale came to visit me and we were deep thinkers, Dustin. He looked around and we drank coffee and it was terrible. We thought, “Why don't we start a coffee company?” Like most businesses, that's about as deep as we got at the beginning. We started digging into it and then we very quickly fell into the entrepreneurial seizure, as described by Michael Gerber in The E-Myth that you can't see no wrong. It absolutely is going to work. That's how we entered it in 1995. Within two short years, the Asian crisis happened. The Thai economy in 1998 fell by 11% and the nonperforming loans in the banking system went up to 55%, the highest in the world. We were in full-blown crisis mode with a factory and all the costs of staffing a factory and no customers.
Dustin
How did you bounce back? That is the entrepreneurial journey in times of crisis like the one you described. What did you do to keep moving forward?
Andrew
It got worse, Dustin, before it got better. Any plans we had for getting customers had been completely destroyed. We were probably ten years too early on the coffee side where people were still drinking instant coffee. It was still a hard sell, but any companies or others that we were selling to that had budgets were gone. You could imagine that almost all revenue was gone. We still had employees. We had to figure out how to survive. One day, I walked in to work and I read on the newspaper that the investment bank that I worked for went bankrupt and I was told, “Good luck.” I went home at the end of that day. Dale and I lived in a house in Bangkok and we looked at each other and thought, “This is scary.” Luckily, I had saved up money from the time I was working and I had investments, but basically I had lost my job and we decided that we had to move into the factory.
We went outside of the city where the factory was and we lived in this industrial area. It was brutal. We had one room with an air conditioning in it, which was the accounting room. We moved out all the staff and the desks and we slept in there. We bunked up as if we were back in university. You batten down the hatches and you try to figure out how to survive. It still got worse. It was a Sunday in August 1998 and it was one of those gloomy Sundays, raining like crazy. We're living in the tropics. You can smell the rain and it's a gloomy day. I got a phone call from my sister. Dale and I were sitting in the room looking at each other in fits of desperation. My sister called and told me that her cancer had come back and that I needed to come home and see her. I came home. She was in the Boston area and I flew home quickly and then she passed away within about a week after I arrived.
I had to go back. I stayed with her and her children and her husband for about a month. I came back to a pretty desperate situation. As I look back, I realized at that time that being an entrepreneur in some ways can be a trap. There are times that you can't go backwards. We couldn't go backwards because nobody would buy the equipment in our factory so that we could walk away. You couldn't go forward because even if you hired salespeople, there was no sales to be had. There are times when in small business you're trapped. You want to expand your business, but it would require you to hire a lot of salespeople and you don't have the budget for it. There are times that you have to revert to what I would call baby steps.
That's how we got out of that situation and managed to stay alive. It's slow baby-steps and trying to get out of it. That's what we did. I ended up getting another job in investment banking as an analyst and then as a head of research. Any cashflow that we didn't have in the company, I was able to finance either from my savings or investment or from the cashflow I was making from work. We slowly crept out of that. I continued to rise in my career as an analyst, as a head of research. That's the short version of how ended up with a career in finance and then my own financial company that I have now in Thailand. Dale runs the coffee business. We own shares of each other's businesses and try to build it for the future.
Dustin
I appreciate you sharing the story. You're very good at leading us to want to understand more there. I probably could go deeper in that. I want to make sure that we give people a taste of where you spend a lot of your background. I want to talk about the investment research you do. You specifically service institution and high net worth investors. That's what the website says. What does it look like on a day-to-day? What are you doing with the investment research that you're providing out to the world?
Andrew
You could summarize what I do very clearly by saying that I construct portfolios of stocks. I look at stocks from all different angles and I look at stocks around the world. From my work on that, I create portfolios that either I'm invested in or my clients are invested in or funds are created around them. Basically, I look at stocks from four different angles, which I call FVMR. F is Fundamentals, meaning I'm looking for companies with good fundamentals. Valuation is the V. I'm looking for companies that are not too expensive. M stands for Momentum. I'm looking for those with good fundamentals and not too expensive to also have some momentum in both price and earnings. Finally, I'm looking for stocks that meet the fundamentals, valuation and momentum criteria, but also a low-risk or not extremely high-risk.
There are about 28,000 stocks listed in the stock markets across Asia. Asia is the future if you're a stock market investor. The US is the past if you're investing in the stock market because the number of shares in the stock market in the US keep falling over the years. Whereas in Asia, they're rising every single year. What I do is I look at stocks, I look at businesses, I look at investments and I tried to say what makes a good investment. I usually am looking at listed stocks in the stock market, but because I have my own business, I also do a lot of looking at non-listed and private companies and entrepreneurs asking me what's the value of my business. Generally, that summarizes the way I do my business when it comes to the financial aspect.
Dustin
You mentioned something that I have never heard before. Not to say that I’ve been in it like you have, that's for sure. You had said that the US is the past, the Asian markets are the future. What trends are you seeing out there? Can you go deeper into that?
Andrew
The first thing is a clear trend that's happening in the US. It's probably a trend towards private equity, but it's a trend away from the public markets because we can see that the number of stocks listed in the US is falling every year. It's probably cut in half in the last twenty years. We taught the world about stock markets, but for some reason the US is abandoning that in some ways. There are countries that are embracing that. China is one. You could say that we taught them a lot about capitalism, stock markets, free markets, prices being set by the free markets and they bought that. There are a lot of people in China that believe that wholeheartedly and believe that you need a good stock market.
The Chinese stock market now has more than 3,300 stocks on it. It's not as much as the US but it's unique in the sense that they're very liquid stocks. They're large and liquid stocks. You can invest a lot of money in almost any one of them, even the small ones. Whereas if you look at the same comparison for the US, in the next few years, there will be more large and liquid stocks in China than there will be in the US and China will overtake the US in the number of companies. The market capitalization of those companies is still lower than in the US but eventually the true capitalist market will be in China. If I was 25 or 26 right now and I was interested in investing, I would absolutely move to China.
Dustin
There are a couple angles I want to go with this. You had said that there are less stock companies being listed in the US. To make this real for people, are you talking about companies that are choosing not to get listed on a stock exchange here, opting to either stay private or go a different route? I'm thinking of some big names that have chosen not to go that route, these big Silicon Valley unicorns. Is that what you're talking about?
Andrew
Exactly. The stocks on the New York Stock Exchange and the NASDAQ or these types of places aren't growing the way they used to. Part of that is because companies have access to private capital and private equity. If you've got a good startup company in the US, you'll be approached by private equity funds who say, “Don't put your company on the stock market. Let us put money into it. We'll give you $10 million and let's develop this thing. If you need $100 million, we'll bring in some friends and we'll do the financing.” Business is still going. It's just that the stock market and listing on the stock market is seen maybe as sizing less advantages or maybe there's more opportunities for private equity and other people do invest in those companies and it's not as necessary. They put them on the stock market. Years ago, the whole purpose of the stock market was to give a place where you could make a market and you could buy and sell and it made it easier for the investors to get in and out of stocks. Maybe that's become easier through private equity.
Dustin
Do you also see a concern for the US or for Americans when the day comes that the Asian markets are larger in terms of market cap than the US?
Andrew
I’ve spent a lot of time in Asia and looking at the US and the relationship with Asia and the way people think about Asia. Ultimately, Asia is no threat at all. America has some amazing uniqueness to it, democracy and the rule of law. It's got great universities generally, an education system that's focused on helping people think independently and not just rote learning. There are some core strengths that America has. Unfortunately, the US has decided to spend $6 trillion in many years on war and allocate that money away from the core strengths of the country. I wish that if the US can continue to reinvest in what makes America great, universities are a key part of it. That's what people around the world see. Everything about some of the institutions of the US, there would be no threat. There's certainly no country in Asia that wants to have US as an enemy and definitely China does not want that. Unfortunately, everybody sees everything as a threat. I would say that the US has a lot of inherent good things that are very valuable for the world.
Dustin
You have this amazing financial background and I believe that some people can train it, some people can acquire it. Some people are born with more of an aptitude for reading numbers, reading markets. For the person who is maybe reading that isn't an investment banker or doesn't have numbers talk to them like they talk to you or charts and reporting, what's your advice? How can we get savvier about using the resources that are out there to make smarter investment decisions?
Andrew
There are a few different ways to look at that. The first thing is if you're an entrepreneur, you must close your books every single month and get your financial statements every single month. Sit down with somebody every single month so that you start to understand those financial statements. There's no way around it. It's like I want to be a sprinter and be a number one gold medalist, fastest man on earth, but I don't want to go train sprinting. Good luck. If you're an entrepreneur, that's your first step. If you're an individual saying, “I need to get better at investing,” I wrote a book called How to Start Building Your Wealth Investing in the Stock Market. I wrote it for my five nieces in America who I wanted to help them start investing. They knew nothing about investing at all. They have other things about them too, is that they have no interest in investing. Turning on CNBC, they will never ever do that. How do we get someone like that started? We have to go back to basic principles.
For the person who says, “I need to get started with investing, but it's all very overwhelming.” I would say that the most important thing in that situation is to start. The second most important thing is to start contributing on a consistent basis. The third thing is what you invest in. It's simple and easy nowadays that all you have to do is look for a globally diversified fund. You could look at a fund like the VT fund at Vanguard as an example. I'm not recommending it, I'm just saying go look up VT fund and learn about it and see that it owns 8,000 stocks across the world. Any risk that a company would go bankrupt is offset by a risk that one of those 8,000 companies would be going up. That's exactly what I talk about in that book. What I try to help my nieces do is don't overcomplicate things.
Dustin
The fund that you mentioned but you're not recommending, to a savvier investor, they would say that's more the passive approach which your nieces aren't going to be so active, so I get that. For someone that wants to be more proactive, is that the same advice that you give to them or do you give them different advice?
Andrew
The truth is very few people will ever be able to beat that advice right there. It's like standing outside of a casino with signs saying in the long run you will lose in this casino. You're not going to be very popular, particularly to all the people walking into the casino. Are they going to see that sign, turn around and walk away? No way. They're there for a reason. They're there to play. They're there to challenge themselves, to think that they could make something out of it. The good news is that there must be winners coming out of that casino or else people won't be going in to that one. There are winners, there will be winners. Those winners may be coming out of that casino by skill, but it's probably that more likely the winners are coming out of there by luck. When other people see the winners coming out, they may not differentiate how exactly they won. Was it skill? Was it luck? How do they do it? They line up to go back in. For those people who say, “I think I can do better than a passive fund,” then it moves into the realm of what a fund manager does, what I do. We try to pick stocks and we try to understand how to value stocks.
For that, I wrote another book called 9 Valuation Mistakes and How to Avoid Them. I tried to explain the mistakes that people make when they're valuing companies. I’ve also created a class called the Valuation Masterclass. In the Valuation Masterclass, I help people say, “I understand that you want to try to pick stocks in this course.” It's a 200-hour course. It's a serious course. The first module is not that difficult, but it gets much more difficult as you go through to say, “I want to become an expert in valuation. I'm want to be able to look at a company and say what do I think this is worth and would I buy it now.” For those people, that has been and continues to be my whole career. For that, I’ve developed the Valuation Masterclass where I help people understand that there are only a few things that you need to think about. You need to think about your forecast of what you expect from this company. You need to think about the riskiness of that.
The simplest way to think of that is if you were going to lend money $100 to two different friends, one that you knew nothing. You’ve never even met them before, but they are new friend and the other one you've lent money to before and they've paid it back. It's the same $100 and they said they're both going to pay you back in one year. It's the same $100 but one of them, you would assign a higher risk to it. You would value the $100 that you give them at a much lower value. You may say, “The probability is 50/50 this guy's going to pay me back.” If you wanted to look at that, you would discount that. It's about what's the cashflow that you're expecting and what's the riskiness of that cashflow. That comes down to the absolute core of valuation.
Dustin
One of the things that you mentioned is winning. You'd mentioned the casino and we're talking about valuation. One of the things that I know is that people love to talk about the winners and no one likes to go around talking about the losers. Seeing that in the marketplace or understanding that as a part of a human psychology, you said, “I'm going to do something a little against the grain here.” You wrote a book and you started a podcast titled My Worst Investment Ever. There was a need for it because no one was doing it, but why are you the guy to say, “Let's make this a conversation now?”
Andrew
My success was forged in a factory of failure and I have faced failure. I have faced it pretty head-on and it's brutal. For the readers out there, we all know how it feels to fail. Unfortunately, failure oftentimes these days is a private, personal experience. A lot of people who are failing and making mistakes are feeling that they're the only ones. Am I the idiot in the room? I read all these stories of people picking stocks that go up, but I pick stocks that go down. I read all these stories of people that start businesses and make billions of dollars and my businesses fail. What's wrong with me? What I’ve learned is that people do not like to talk about they’re losers. They want to talk about they’re winners. When I asked a group of people that I know by email, “Would you be willing to share with me your worst investment ever?” I thought I would get crickets. Instead, I got 500 written stories from 500 different people. That's when I knew that it was time to start the podcast called My Worst Investment Ever where I interview people and as I say one person, one story.
Dustin
To have 500 different people with different stories come and share with you, that was for sure an eye-opener. Other than that, which is a big one, in the interviews and pouring over these stories, what has surprised you the most about asking that question?
Andrew
I can't say it's totally surprise, but it's interesting that 99% of the people I asked to be on the show say no. What I’ve learned from that is it's personal, it's painful. They don't want to advertise the fact that they've made a mistake. That's number one. Number two is the culture I grew up in. You could fail in America and then get back on the horse. The stigma to that is very small. America rewards mistakes and losers and get back up on the horse. You could go bankrupt and lose many times and still become president in the United States. What I’ve learned is other cultures around the world do not think about loss and failure in that way. The stigma that's attached to it in Italy, as an example, is much more detrimental to the person and to society. I thought that everybody saw it as either way, maybe my parents would have said to me, "Get back up on the horse and get back on it.” Failure is a part of success, but that's not the case all the way around the world. That's one thing that's surprised me that I didn't think about.
Dustin
What have you learned? You've made a lot of investments in your time. Some winners, some not so much. What have you learned in this process?
Andrew
I’ve learned a lot myself over the years. From the podcast, I was able to take what I’ve learned over the years and bring that together with what I’ve learned from many people. I’ve learned that there are six core ways that people lose their money. The first one and this is the most common. They're ranked from most common to least common. The most common is they simply failed to do their research. They didn't look into the company. They didn't look into the investment and they just put their money into something without doing any research. The second one is that they failed to properly assess and manage risk. They didn't assess the risk of that investment and also, they didn't manage it. Meaning if they found something they thought was interesting, they put all their money in it rather than saying, “Why don't I put 10% in this right now until I understand more about it?”
The third one is that they were driven by emotion or flawed thinking. They couldn't think right. Fourth was they misplaced trust. They thought that they could trust someone or this investment and then they found out that they couldn't. The fifth was that they failed to monitor their investment. Many people give their money to other people and then think that money will eventually come back to them. Number six is a catch-all because I found many people lost so much money from startup that I said number six is in investing in a startup company. That is the sixth catch-all away that people lose their money in investments.
Dustin
You have made your own investments. You've now certainly heard your share of stories. What is the worst investment you've ever heard?
Andrew
I haven't done a full episode on that yet. I'm going to reveal a little bit of it here. A few years ago, a good friend of mine came to me with an idea of a startup company. I thought his idea was very good. The good part about it is I trusted him personally. I trust in him and I thought the idea was good. As we got deeper into it, I was the person that was funding it and we went on and on. Eventually, there came a point where I realized I had sunk a lot of money into this. There came a point where we had to make a decision to go out to the big world and maybe raise $1 million and try to sell the idea of this company. I realized that it would have been hard for my friend to operationalize that. He was good with the idea, but the ability to stay focused and bring that to the hoop, I think at one point I realized that I missed that.
At that point, we set some goals and we discussed it and eventually we were able to hit those goals and we had to shut it down. I learned a lot of lessons from that. I summarize the lessons I learned in that by saying that the first thing you look for when you're investing in someone or something from a startup perspective is trust. If you trust the person, go to the next step. The next step is idea. If you trust the person and they have a good idea, go to the next step. The next step becomes if you trust the person and they have a good idea, the next question is do you have confidence that they can execute that idea. If you have confidence that they can execute that idea, now you've got trust that you've got a good idea, you've got good execution.
The fourth thing is money. You need to make sure that you're not the single provider of capital to that idea because it will require more and more capital over time. Those four things are what I learned from it. I learned it through the stinging or as Forrest Gump said, “That stinging rain.” It was stinging, painful. I'm an experienced guy. I’ve been around the block. I know my stuff when it comes to finance and I still lost and that's painful. That's shameful. It can shake your confidence. It can shake the way that you communicate with other people about what you do. Most importantly, in investing you've got to be humble. If you are not humble, you will be humbled.
Dustin
Andrew, I appreciate you sharing that story. As you say, it's not always easy. It's painful to yourself, with a lot of education and real-world experience in doing it. I appreciate you sharing it. At the start of this, if you had said to your partner or your friend or to the person running that business, “I'm only going to put X amount of dollars into this,” would that have been easier in the process?
Andrew
Investing in small business is a trap. It's easy to get into. It's sexy. It feels good but then it spins out of control. There were times that I went into it saying, “We've got to hit these milestones. I'm only going to put in this much.” Things spin out of control and then things move forward and then you get more excited about what's ahead. You can get caught up in that. I got caught up in that. It's definitely an important thing to try to set milestones that are objective milestones. If you're an investor, those milestones should be external from the company where you're talking to a friend and saying, “I'm investing in this company. I want to talk to you about it. Here's where I think we're going to be six months from now. If I'm not at that point, slap me. Help me think about it.” I have to admit it. It's not easy. That's where I think you got to have your wits about you. It's like driving a race car at a very high speed. Every single thing that you're doing matters and you've got to be aware. That's something that most people including myself, when you go in, you get so excited about the idea that you lose awareness.
Dustin
You also wrote another book. You are quite prolific and I wanted to ask you about it. This was Transform Your Business with Dr. Deming's 14 Points. For people that don't know Dr. W. Edwards Deming, will you communicate who he is? The big question is why did you feel the need to further expand on his work and his points?
Andrew
I was 25 years old and I was working at Pepsi in operations in Los Angeles. I was pretty unimpressed with what I saw in the factory. It was a lot of very professional people and great individuals. When it all came together, it wasn't that impressive. I had been studying about the Japanese and learning about their method and had a lot of questions. There was a seminar that came up by a man named Dr. W. Edwards Deming, which is the man who is the father of the quality movement who went to Japan and taught Japanese about quality. Companies like Toyota have implemented it after World War II until now. I got a chance to go study with him and learn from him and he blew my mind. He turned everything I thought about management, everything I had learned in my MBA, it was all turned upside down.
I personally love books or people who take my thinking and twist it around and turn it upside down and challenge me. It's been a never-ending challenge from the day I met him for all these years, reading his writing and thinking about it and rereading it. I got another chance to study with him and I appreciated what he did. I thought at one point I wanted to communicate this to the factory workers and the management of the company, CoffeeWORKS, that Dale and I have. Dr. Deming, the way he wrote, the way he spoke was a bit difficult to understand even for an American, in my case. You'd have to think about what he said carefully. He said at one point when I was listening to him when someone asked him, "What you're talking about? It seems like it would take a long time to implement your quality idea here.” He said, “It wouldn't take that long at all. I’ve seen companies that have implemented it in as little as ten years.” He said, “I’ve seen some that have implemented it in as fast as ten years.”
You have to think about things like that and the way he presented it. I wanted to put his words in a much simpler and easier to understand format. That's the book. I also translated it into Thai and Chinese and other languages because I wanted my staff and others around to get his message before it disappears. The core thing of his message is that the biggest problem that the US companies have is that management thinks that the way you get the best out of people is you pit them against each other. You set up a bonus system where you individually incentivized them.
Everybody's set up with their KPIs and you shoot off the starting gun and then they compete against each other and then the best person wins from that. Ultimately, someone's going to be a winner and someone's going to be a loser of that bonus. That's the way you get the most out of people. Dr. Deming taught me that we don't manage our lives in almost any other way in that way. He said, “Where is the proof that individual KPIs is a superior way of managing people?” They have limited resources and set up KPIs in kindergarten and show kids that you can pit against each other to get dinner.
Dustin
I appreciate your way of looking at the world. I appreciate what you're up to. For people that want to continue the conversation and the many different facets that you offer, whether that's the stocks that you're looking at, the ideas that you put forth in the world or the new books that will come out of you and the future, what is the best way for people to get ahold of you?
Andrew
The first thing is go to MyWorstInvestmentEver.com. On there, I’ve put a recording system where you can click the link that pops up and record a message and that will go directly to my email. You're welcome to go there and leave a message. It'll ask for your email so I’ll be able to reply by email. The second one is that you could email me directly. My email is Me@AndrewStotz.com. For those people who say, “I want to read some of these books,” the books are on Amazon. Type in Andrew Stotz and look for the books that I’ve written. For those people who want to learn more about ways that people are losing money, but also the strategies to win in investing, join me on My Worst Investment Ever Podcast at the website and you'll hear stories all the time of people and learn from these stories. Finally, if there's anybody out there that says, “Andrew, I want to dig deeper into valuation,” join my Valuation Masterclass. I have a discount for you at MyWorstInvestmentEver.com/deals where I put up the best discount for that class. I believe it's a 35% discount. You can go to that and sign up and then you'll learn more deeply about valuation.
Dustin
I appreciate your generosity and making the time to come on here and communicate the nuggets, the systems, all the ideas that you've picked up. The resource that is finite for all of us is time. I want to thank you for coming on but even more than that, I want to thank you for what you're up to in the world. To pay it forward, to communicate new ideas, to allow people to have their minds twisted like Dr. Deming did to your mind is a big thing. We don't take that lightly. I wanted to say thank you for doing that and thanks for being on the show.
Andrew
I love what you're doing. It is important to get fit around our wealth. My goodness, many people are not. What a thing you're doing to encourage people to get out there and rethink about wealth and creating. I like to say we create wealth through our business or through our savings. The difference between the income that you earn and the expenses that you pay is the creation of wealth. We grow wealth in the stock market and we should learn also to protect it. I appreciate the journey that you're helping people on. Thanks for having me.
Dustin
Thanks again.

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In this jam-packed episode, Dustin is joined by real estate investor and tech entrepreneur, Steve Jackson. Listen in and hear the "close calls" that finally led to the dream of having a portfolio of passive income-generating properties.

Rebounding From A Near Death Experience, Bankruptcy & The Crash

article
A Beginner’s Guide to Investing in Oil & Gas

Learn the top 6 ways to invest in oil or gas from anywhere — PLUS discover the specific tax advantages to petroleum investing.

A Beginner’s Guide to Investing in Oil & Gas

Cash Lambert

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podcast
The 2x Super Bowl Champion Disrupting American Football

Following the perfect playbook, former NFL player and pro-bowler, Byron Chamberlain takes us through the NFL draft day that changed his life, the moments that lead to winning back-to-back Super Bowl Championships, traveling the world, and investing in education and the Freedom Football League.  

The 2x Super Bowl Champion Disrupting American Football

podcast
Title Insurance Explained

If you've ever purchased a property, you've almost certainly had title insurance reducing your risk. But what happens when things go wrong? Jeff Gross, explains all in this eye-opening episode.

Title Insurance Explained

podcast
No Money Down Deals & Creativity In Real Estate

Real estate investor Gary Wilson discusses how to get into real estate no money down along with other creative financing strategies for investing in real estate.

No Money Down Deals & Creativity In Real Estate

podcast
The Perfect Portfolio, Gold & Silver and the Wealth Triangle

Founder of Perfect Portfolio, Minesh Bhindi, explains how to find the right investments and why gold and silver are worth investing in.

The Perfect Portfolio, Gold & Silver and the Wealth Triangle

podcast
4 Interesting Takeaways from the Berkshire Hathaway Annual Meeting

Each year, the country’s top investing and money-minded individuals gather at the Berkshire Hathaway Annual Meeting. Get insight into this exclusive event with Dustin's major takeaways.

4 Interesting Takeaways from the Berkshire Hathaway Annual Meeting

article
The Simple Guide To REITs: How To Invest In Real Estate With Less Risk & Regular Returns

Thinking about investing in a Real Estate Investment Trust (REIT)? Learn what they are, how they work, and how to pick the best one for you.

The Simple Guide To REITs: How To Invest In Real Estate With Less Risk & Regular Returns

Abhi Golhar

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article
How To Take Investing Seriously & Stop Playing With Your Money

Don McDonald dispels the most common myths about investing and lays out a strategy for a balanced portfolio and consistent returns.

How To Take Investing Seriously & Stop Playing With Your Money

Don McDonald

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Creative Real Estate Investing Showcase

Creative Real Estate Investing Showcase

Behind-the-Scenes on 3 Unique Investment Deals

WealthFit Trainers

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Private Lending Showcase

Private Lending Showcase

Behind-the-Scenes on 4 Successful Real Estate Loans

WealthFit Trainers

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Real Estate Wholesale Showcase

Real Estate Wholesale Showcase

Behind-the-Scenes on 2 Successful Wholesale Deals

WealthFit Trainers

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Real Estate Fix & Flip Showcase

Real Estate Fix & Flip Showcase

Behind-the-Scenes on 13 Successful Rehab Projects

WealthFit Trainers

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The 7-Figure Landlord

The 7-Figure Landlord

3 Keys to Building A Portfolio of 500+ Cash Flow Properties

Gregg Cohen

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Facebook Messenger Marketing

Facebook Messenger Marketing

How To Find Your Next Great Investment Property on Big Blue

Bob McIntosh

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Facebook Live Marketing

Facebook Live Marketing

How to Exponentially Increase Your Number of Leads Using Facebook Live

Bob McIntosh

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podcast
Secrets of a "Financial Concierge"

Anything can happen in the world of finance. Travis Jennings teaches you to use the tools at your disposal to make (and keep) your fortune.

Secrets of a "Financial Concierge"

article
What's the Difference Between Naked Options & Covered Options?

What are the differences between naked and covered options? If you're an investor, you need to know how to use either (or both) correctly.

What's the Difference Between Naked Options & Covered Options?

Justin McCormick

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article
The Short & Simple Guide to Employee Stock Options

What are employee stock options and how do you use them? It's simpler than you might think.

The Short & Simple Guide to Employee Stock Options

Lance Cothern

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article
From Zero to Hero: Get a Financial Education & Start Investing Right

You don’t have money—yet. Learn how to begin businesses, invest in real estate, and make your start in the stock market from scratch.

From Zero to Hero: Get a Financial Education & Start Investing Right

Andy Tanner

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article
How to Make Money Using the 5 Profit Centers of Rental Properties

Want to invest in real estate? Here are the 5 biggest things you need to consider before investing in property.

How to Make Money Using the 5 Profit Centers of Rental Properties

Ali Boone

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article
7 Real Estate Investing Shortcuts: How to Get Started with Less Upfront Cash

Any cash you put in a real estate investment is cash you can’t use elsewhere. Here are 7 ideas to get that upfront cash as low as possible.

7 Real Estate Investing Shortcuts: How to Get Started with Less Upfront Cash

Justin McCormick

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Rental Properties 101

Rental Properties 101

How To Buy Your First Cash-flowing Rental (The Right Way)

Deslyn O’Dell

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