Podcast appearances and mentions of Warren Buffett

Dust off that giant binder of scratched CDs you definitely didn't throw away because apparently funny podcast history has come full circle: physical media is making a comeback.The show kicks off with the surprising resurgence of CDs, with sales jumping while vinyl growth slows down. Why? Turns out paying nearly $40 for a new record eventually makes people reconsider the humble compact disc. Gen Z is getting into CDs, independent record stores are stocking more of them, older cars still have CD players, and there's something comforting about owning music that can't suddenly disappear from a streaming service. Moon also realizes those boxes of old band CDs might not be useless relics after all. Congratulations to everyone who refused to clean out their basement. Your moment has arrived.Then Crap on Celebrities takes us directly into the wildly expensive world of Hollywood memorabilia. A screen-matched mosquito-in-amber prop from the original Jurassic Park sells for more than $400,000, while Christopher Reeve's Superman gear and John Travolta's famous Saturday Night Fever suit also bring ridiculous money at auction.Naturally, this becomes less about collecting important pieces of movie history and more about whether you're morally obligated to PUT THE COSTUME ON.Because if you spend hundreds of thousands of dollars on Superman's costume just to leave it behind glass, what are we even doing here?The crew also gets into entertainment news, including the changing timeline between theatrical releases and streaming, Toy Story 5, a live-action Scooby-Doo prequel, and Ghost taking a hiatus after Tobias Forge admits he doesn't currently have a clear vision for the band's next album. We salute a man willing to say, “I don't know what the next thing is yet,” instead of releasing twelve remixes and a commemorative popcorn bucket.Then there's Grand Theft Auto.The latest massive GTA preview sends the room into gamer mode as the crew talks about the gigantic map, Jason and Lucia's evolving relationship, smarter cops, surveillance cameras, changing disguises, massive police chases and an enormous story that could consume roughly 80 hours of your life.So basically, Rockstar has created a second full-time job, except this one lets you steal cars.The funny podcast chaos keeps rolling with Paris Hilton landing on a list of influential people in artificial intelligence because of her advocacy surrounding privacy and non-consensual AI-generated media. Then the hunt for the next James Bond gives everyone a chance to evaluate candidates with the rigorous casting standards you'd expect from three guys who immediately nominate Mr. Bean.And finally, we tackle one of the most important databases ever assembled: tall and short rock stars.Chris Novoselic. Danny Carey. Mick Fleetwood. Buckethead. Joey Ramone. Billy Corgan. Angus Young. Prince. Glenn Danzig. Stevie Nicks. The measurements are flying, everyone suddenly seems either seven feet tall or legally eligible for a booster seat, and we discover once again that stage presence apparently adds about eight inches.Throw in celebrity birthdays, Luis Guzmán appreciation, Warren Buffett confusion, Charlie Munger confusion, additional Charlie confusion, and the traditional descent into nonsense, and you've got another funny podcast from The Rizzuto Show.Physical media is back. Movie props cost more than retirement. GTA may require PTO. And Danzig is still Danzig at any height.That's enough education for one day.Follow The Rizzuto Show → linktr.ee/rizzshow for more from your favorite daily comedy show.Connect with The Rizzuto Show Comedy Podcast online → 1057thepoint.com/RizzShow.Hear The Rizz Show daily on the radio at 105.7 The Point | Hubbard Radio in St. Louis, MO.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Mabel Nunez is the founder & Chief Education Officer at Girl$ on The Money – a stock market investing education company targeted toward individuals who are underrepresented in the investing world. Mabel grew up in the South Bronx as an immigrant from the Dominican Republic, with limited resources & a strong emphasis on education from her father. She learned very little about personal finance or investing while in school until she was in college, where she took an investing analysis class which began her passion for investing & personal finance. Mabel holds both a Bachelor of Science and an MBA in Finance. However, most of what she's learned about investing came from experience. Mabel's mission is to teach what she's learned (and continues to learn) since starting her investing journey. She is passionate about transforming investing beginners into confident, knowledgeable, and profitable investors. In this episode, Mabel shares: How fear kept her from starting to invest, despite graduating as a finance major, reading articles and listening to shows on investing How she has been investing for 16 years with a focus on individual stocks in a self-directed taxable account. She invests in companies with long-term potential, rarely selling stocks and preferring a Warren Buffett-style strategy That investing in ETFs or index funds, such as the S&P 500, can be a simpler alternative to buying individual stocks & advises against buying "cheap stocks" or investing in unproven companies. How she struggled to tell her parents about quitting her 9-5 stable job to pursue her passion & the challenge of balancing personal dreams with family expectations, particularly for immigrant families + much more! What's New in the Paperback Edition of Your Journey to Financial Freedom: A bonus chapter: When Life Happens: Staying on the Path to Financial Freedom Through Setbacks, Shifts, and Uncertainty A book club and discussion guide with prompts, exercises, and action steps Updated corrections from the original hardcover Exclusive bonuses when you purchase the paperback, including: The Fire Starter Course The Find Your FIRE Number Worksheet Other related blog posts/links mentioned in this episode: Check out Mabel's books: Stock Market Investing Mini Lessons for Beginners;Stock Analysis 101; & Mini Lecciones de Inversión Para Principiantes (spanish version) Get your paperback edition of Your Journey To Financial Freedom if you haven't already. Apply to Share Your Journeyer Story, here./' Join the Journey to Launch Book Club to dive deeper into financial freedom with guided discussions and resources here! Join The Weekly Newsletter List to get updates, deals & more! Leave Your Journey To Financial Freedom a review! Get The Budget Bootcamp Check out my personal website here. Leave me a voicemail– Leave me a question on the Journey To Launch voicemail and have it answered on the podcast! YNAB –  Start managing your money and budgeting so that you can reach your financial dreams. Sign up for a free 34 days trial of YNAB, my go-to budgeting app by using my referral link. What stage of the financial journey are you on? Are you working on financial stability or work flexibility? Find out with this free assessment and get a curated list of the 10 next best episodes for you to listen to depending on your stage. Check it out here! Connect with Mabel: Website: GirlsOnTheMoney.com Instagram:@GirlsOnTheMoney Facebook: @Girls On The Money Threads:@GirlsOnTheMoney Substack: Girlsonthemoney.substack.com Connect with me: Instagram: @Journeytolaunch Twitter: @JourneyToLaunch Facebook: @Journey To Launch Join the Private Facebook Group Join the Waitlist for My FI Course Get The Free Jumpstart Guide

Jim Kwik is a brain coach and the founder of Kwik Learning, known worldwide as an expert in speed-reading, memory improvement, and accelerated learning. After a childhood brain injury left him labeled "the boy with the broken brain," he spent over three decades reverse-engineering how the brain works, going on to coach CEOs, celebrities, and billionaires. He's the New York Times bestselling author of Limitless and Limitless Daily.In this episode, we discuss:(0:00) Introduction(5:46) How He Got Labeled "The Boy With the Broken Brain"(8:39) Why All Behavior Is Belief-Driven(10:24) Your Mind Can't Tell the Difference Between Imagination and Reality(14:56) How Identity Really Changes (It's Not One Big Breakthrough)(16:52) "Don't Take Criticism From Someone You Wouldn't Take Advice From"(22:14) The Habit That Connected Him to Warren Buffett and Bill Gates(23:43) Why He's Launching a New Chapter With Kwik Learning and AI(27:50) The Danger of "Digital Dementia" and Cognitive Offloading(1:10:31) Float Tanks, Dark Retreats, and Disconnecting to Reconnect(1:16:28) Focus Is a Muscle: How to Train It Like a Magnifying Glass(1:19:21) Mind Management Over Time Management(1:23:56) Why Constraints Make You More Limitless(1:31:10) The Power of Your "Dominant Question"(1:33:45) His Message to His 5-Year-Old SelfLearn more about Jim Kwik here:Website: https://www.jimkwik.comInstagram: https://www.instagram.com/jimkwikKwik Learning: https://www.kwiklearning.comBook (Limitless Daily): https://www.limitless.comWatch this episode on Youtube: https://youtu.be/rMjVAnHmUeE

Der Versicherungsgigant Talanx (WKN: TLX100) hält nicht nur 50% der Hannover Rück, sondern hat auch noch zig eigene Versicherungen und insgesamt 180 Mrd. € Bilanzsumme. Wir wollten vom CFO Jan Wicke wissen, wie Preisverhandlungen bei Rückversicherungen laufen. Auf welche Kennzahlen er schaut, bevor er eine Versicherungsaktie kauft. Wieso sie bei 180 Mrd. € Bilanzsumme nur sehr wenig Geld in Aktien investiert haben und nicht ein Konzept wie Warren Buffett und Berkshire Hathaway verfolgen. Mehr Infos zu unserem neuen Partner DJE und seinem Dividende & Substanz Fonds: https://www.dje.de/de/investmentfonds/productdetail/LU0828771344/#fondsuebersicht Aktien hören ist gut. Aktien kaufen ist besser. Bei unserem Partner Scalable Capital geht's unbegrenzt per Trading-Flatrate und auf der hauseigenen European Investor Exchange, die genau auf Privatanleger zugeschnitten ist. Alle weiteren Infos gibt's hier: scalable.capital/oaws. Diesen Podcast vom 22.08.2026, 3:00 Uhr stellt dir die Podstars GmbH (Noah Leidinger) zur Verfügung. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, Ben Felix and Dan Bortolotti take on 10 of the biggest myths in personal finance and investing. From the idea that young people should save every possible dollar to benefit from compounding, to assumptions about economic growth, dividends, index funds, valuation ratios, stock picking, bonds, gold, and homeownership, they examine the subtle details that can make  conventional wisdom misleading.   Ben and Dan explore why personal finance is often about balance rather than absolute rules, why spending decisions can be just as important as saving decisions, and how investors can confuse familiar stories with useful financial principles. Along the way, they discuss consumption smoothing, marginal utility, total returns, diversification, valuation, risk, inflation, and the trade-offs between renting and owning.   They also announce a new podcast initiative: future episodes featuring PWL clients discussing their experiences and the impact that financial planning has had on their lives.   Key Points From This Episode: (0:00:00) Highlights. (0:00:35) Ben and Dan return to the podcast and discuss recording from PWL's Montreal office. (0:01:09) A new podcast initiative: PWL clients will join future episodes to discuss their experiences with financial planning. (0:01:43) A new podcast initiative: PWL clients will join future episodes to discuss their experiences with financial planning. (0:02:18) How greater clarity about their finances can affect clients' important life decisions. (0:05:30) Introducing the main topic: 10 of the biggest myths in personal finance. (0:06:24) Myth #1: You should save as much as possible when you're young to maximize the benefits of compounding. (0:08:54) Why the marginal utility of consumption may be highest when income and living standards are comparatively low. (0:11:26) How health, skills, and experiences can also compound over time. (0:12:31) Why aggressive saving habits can sometimes lead to an inability to spend accumulated wealth. (0:13:37) Helping retirees identify what they actually enjoy spending money on. (0:15:35) Why spending and saving decisions can become emotionally charged and feel irreversible. (0:17:30) Saving as deferred consumption—and why the answer for most people is some balance between spending now and saving for later. (0:18:50) The life-cycle model and the idea of smoothing consumption across a lifetime. (0:20:23) Building a saving habit while also learning to spend thoughtfully. (0:21:09) Myth #2: Economic growth is good for stock returns. (0:21:30) Why economic headlines can influence investor psychology and investment decisions. (0:25:12) Why strong economic growth does not necessarily translate into strong stock returns. (0:25:12) Myth #3: Dividends explain a large percentage of historical stock market returns. (0:27:52) Why the source of a company's return does not make one component inherently more valuable than another. (0:30:57) Myth #4: Index funds only give investors average returns. (0:30:57) Why an index fund can outperform most active investors. (0:33:14) The difference between average performance and the performance of the average investor. (0:36:31) Myth #5: Future market returns are always low when the Shiller CAPE ratio is above 40. (0:36:31) What the Shiller cyclically adjusted price-to-earnings ratio measures. (0:41:25) Why valuation can contain information about expected returns without providing certainty about what markets will do next. (0:43:24) Myth #6: Warren Buffett proves that investors can beat the stock market by picking stocks. (0:43:24) Buffett's extraordinary career, the importance of his early performance, and the difficulty of using exceptional outcomes as a general strategy. (0:46:17) Myth #7: Bonds and cash are safe investments. (0:46:17) Why reducing stock exposure does not eliminate investment risk. (0:50:03) The distinction between short-term volatility and other risks, including inflation and purchasing-power risk. (0:53:59) Myth #8: Gold is an inflation hedge. (0:53:59) Why gold's long-term preservation of purchasing power does not necessarily make it a reliable hedge over intermediate periods. (0:56:28) Myth #9: Gold is the one true currency. (0:56:28) The long-running debate over what money is and who should control it. (1:00:42) Myth #10: Renting a home is throwing money away. (1:00:42) Why paying rent provides housing while allowing renters to retain capital for other purposes. (1:08:04) Why simple rules of thumb can sometimes be useful even when they are not financially optimal in every situation. (1:09:52) Wrapping up the 10 myths in personal finance.   Links From Today's Episode: Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on YouTube — https://www.youtube.com/channel/ Benjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/   Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com)

“The tools of communication have changed, the human brain has not.” In a world of endless content and shrinking attention spans, getting your message heard means giving people a reason to care. For Carmine Gallo, a communication coach, author of Viral Voices, and CEO of Gallo Communications, that starts with understanding what captures the brain's attention: emotion, relevance, and a compelling story. In this episode of Think Fast, Talk Smart, Gallo joins Matt Abrahams to explore the timeless principles behind persuasive communication. From crafting attention-grabbing hooks to using analogies and storytelling, he shares practical techniques for making your ideas more emotional, clear, and memorable.Key Takeaways:Attention starts with making people care. Emotion and relevance help your message cut through the noise, giving your audience a reason to listen before you ask them to absorb your ideas.Great communication follows timeless patterns. Hooks, analogies, and structured storytelling make ideas easier to understand and remember, regardless of the platform or technology used to deliver them.Activity:Build the hook. Take a presentation, pitch, or message you're already working on and write a one-sentence opening that answers your audience's unspoken question: “Why should I care?” Make it relevant, specific, and compelling enough to earn their attention.Episode Reference Links:Carmine GalloCarmine's Book: Viral VoicesEp.103 Simple Is a Superpower: How to Communicate Any Idea to Any Audience Connect:Premium Signup >>>> Think Fast Talk Smart PremiumEmail Questions & Feedback >>> hello@fastersmarter.ioEpisode Transcripts >>> Think Fast Talk Smart WebsiteNewsletter Signup + English Language Learning >>> FasterSmarter.ioThink Fast Talk Smart >>> LinkedIn, Instagram, YouTubeMatt Abrahams >>> LinkedIn Chapters:(00:00) - Introduction (00:56) - Capturing Attention (03:30) - Timeless Communication Patterns (06:46) - The Persuasion Toolkit (10:49) - The Three-Act Structure (15:30) - The Final Three Questions (19:54) - Conclusion ********Thank you to our sponsors.  These partnerships support the ongoing production of the podcast, allowing us to bring it to you at no cost.Strawberry.me. Get 50% off your first coaching session today at Strawberry.me/smartJoin our Think Fast Talk Smart Learning Community and become the communicator you want to be. 

Justin Donald, known as the “Warren Buffett of Lifestyle Investing,” is the bestselling author of The Lifestyle Investor: The Ten Commandments of Cashflow Investing for Passive Income and Financial Freedom and founder of The Lifestyle Investor. He specializes in low-risk cash flow investing and helping entrepreneurs and executives build wealth without creating another job. In this episode, Justin shares how learning sales as a seventh grader shaped his confidence and approach to risk, how he built a portfolio of cash-flowing real estate and businesses, and the investing principles he uses to create more freedom, flexibility, and financial independence. On this episode we talk about: Why learning sales early can build confidence and give you a valuable financial safety net How Justin went from selling newspaper subscriptions as a seventh grader to building and leading sales organizations Building businesses and using cash flow to acquire income-producing assets Why Justin prioritizes investments that generate cash flow from day one How wealthy families use alternative investments and asset allocation to build and preserve wealth Justin's approach to evaluating real estate opportunities and managing concentration risk Which real estate sectors Justin currently finds attractive and why he moved away from multifamily The debate between buying and renting your primary residence Top 3 Takeaways Learn how to sell. Sales isn't just a career skill—it builds confidence, teaches you how to handle rejection, and gives you the ability to generate cash when you need it. That foundation can make it easier to take risks and pursue new opportunities. Focus on cash flow and diversification. Justin's investing philosophy centers on acquiring assets that generate cash flow and spreading capital across different investments rather than relying heavily on a single asset or investment vehicle. Create an investment criteria before you invest. Know what you're looking for, what makes an investment a “yes” or “no,” and how much concentration risk you're willing to accept. Justin avoids putting more than 5% of his net worth into a single deal and generally no more than 10% with any single investment group. Notable Quotes "The riskiest thing is like going to some stranger and having them say no and slam the door in your face." "The wealthiest people have over half of their net worth in alternative investments." "I don't really buy real estate unless it cash flows day one. That's just kind of my rule." Connect with Justin Donald: Instagram: Justin Donald Other: LifestyleInvestor.com Free Strategy Session: Lifestyle Investor Consultation A Word from Our Sponsors: - Go to Leesa.com for 25% OFF select mattresses (through August 23, 2026) PLUS get an extra $50 off with promo code TMM, exclusive for my listeners  Learn more about your ad choices. Visit megaphone.fm/adchoices

Pat Riley, Seard and Warren Buffett. 8-18-2026

https://youtu.be/jPTlkjF8M-c Tanner Taddeo, CEO and Co-Founder of Stable Sea, is driven by a mission to bring Wall Street-grade financial services to Main Street while embodying the principle Stay Put in Your Convictions. By combining blockchain technology, stablecoins, tokenized capital markets, and AI advisory services, Tanner helps businesses access investment opportunities, put idle cash to work, and move money globally with greater speed, transparency, and capital efficiency. In this conversation, Tanner introduces The Lionel Messi Startup Framework—Develop a High-Level Thesis, Talk With and Learn From the Market, Run 30-Day A/B Tests, Iterate Your Offering, and Stay Resolute With Your Convictions. He explains why founders should observe patiently, validate their ideas with customers, and act decisively when market opportunities emerge. Tanner also discusses balancing long-term conviction with continuous experimentation, unlocking 24/7 liquidity through tokenized capital markets, reducing friction in cross-border payments, and finding urgent “morphine” problems that customers cannot afford to leave unsolved. — Stay Put in Your Convictions with Tanner Taddeo  Hello everyone. Steve Preda here, and my guest today is Tanner Taddeo, the CEO and Co-Founder at Stable Sea, an autonomous treasury management platform that helps finance teams and global businesses access capital market products and move money around the globe to 40 currencies with the cheapest FX rates. Tanner, welcome to the show.  Steve, thanks for having me. Excited for the conversation today.  It’s very interesting that this is how you position your business because most businesses in your industry, as I see them, position themselves with low transaction fees, but really their money is made on the FX. So if you do preferential FX rates or cheap FX rates, that can be a very transparent way of getting business. So I don’t know if that connects to your personal why, but I’d love to learn about your personal why and how you manifest it in your business.  Yeah, definitely. At Stable Sea, we’re very mission-driven in terms of everything that we do. The team itself comes from Block, which was formerly known as Square. Yeah. And everyone on the team has been focused on building products for the real economy, for consumer use cases, for business use cases, et cetera, over the course of everyone’s career.  And so when we started at Stable Sea, our primary thesis was, with blockchain, with stablecoins, with some of the tokenized capital markets products like money market funds, bonds, equities, et cetera, that are coming on-chain, how can you really take Wall Street-grade financial services and provision them out to Main Street for businesses that need them the most? And so the why for Stable Sea, for myself, for the team, is really around helping businesses drive greater capital efficiency in their operations. And we service businesses in the real economy that typically make widgets or some sort of physical hardware devices, and they need to send them around the world.  We help them because we give them access to different types of capital markets products, so money markets and private credit and fixed-income products, et cetera. And then we help them move their money around the globe a little bit more efficiently than they could with either their state bank or their credit union or some third-party cross-border payments provider. Because our firm thesis has always been, if you and I ran Coca-Cola or a large organization, we would have the best-in-class transaction banks helping us put our idle capital to work at every point in time during the day.  If you and I ran a steel manufacturing company in Missouri, you typically have a checking account and QuickBooks, and that’s about it. And so for us, it was always about helping businesses grow, save more money, and then operate more efficiently with some of the new technologies that are out there today.Share on X  So that means, presumably, that what you focus on is more about the investment side of the business rather than crypto and blockchain, and helping people access financial products through the blockchain. Help me understand a little bit what you do and how it is different from what people can get from banks?  Yeah. So everything that we do, all the technology that we build and provision, is on-chain. So all of the capital markets products are tokenized. So tokenized bonds, tokenized equities, tokenized fixed income, tokenized money markets. All of the payment services and settlement services that we offer are through the use of stablecoins, and we can send that around the globe, settle it instantly, and then have low FX rates off the back of that. And then we have some of our AI advisory services.  But from a broad paintbrush perspective, at Stable Sea, you’ve got three products that hang off of our platform. You’ve got capital markets, you’ve got global settlement, and you’ve got advisory services. And then with all of that, we share a common architecture, and that architecture is built across many different blockchains. And then we utilize stablecoins and we utilize RWA tokens, or real-world asset tokens, to provision those use cases.  So everything that we do is stablecoin-native, but we don’t lead with that from a messaging perspective. And the reason we don’t lead with that from a messaging perspective is that if you and I ran a bakery here in Brooklyn, New York, and we had a point-of-sale terminal that just got offered RTP access from the Fed for instant settlement, the bakery owner doesn’t really care about the technology underneath it.  They just care, “Do I trust it? Is it going to get me my money quicker, and is it going to be cheaper than my current alternative?” How it happens, not very many people care unless you’re in the industry and you’re a builder, product manager, et cetera, and you want to nerd out on the actual mechanical nature of how the product works. But for us, it’s always been leading with the narrative of, what is the value proposition and how can we drive greater value to the businesses? So that’s how we lead. But to your point on what the difference is, with any new technological paradigm that occurs, rarely is it so disruptive in nature that folks can’t recognize it.  Everything that happens in terms of the innovation paradigm is typically you stand on the shoulders of giants and you make things incrementally better. And so for us, what we do with capital markets is, the first value proposition is that many businesses in the United States just don’t have access to a diverse array of capital markets products. So the first thing that we have done is just provision access, which is an innovation in and of itself because in the traditional markets, if you want to access a money market fund or a fixed-income product, you typically have high hurdle rates, meaning that as a business, you need to invest at least $10 million at the asset manager in question.  You need to hold that there so then you can get access to all these products. With us, you don’t. There’s only a $1 minimum to clear, so I think most folks can handle a $1 minimum. And then secondly, as things go on-chain, the value proposition there is that you have 24/7, 365 liquidity and tradability. And so what that means is that, just from a money market fund perspective, the interest accrues daily and it pays out daily.  So you get this interest that is dripped into your account daily as opposed to waiting for a month. You also have the ability—so let’s say that you and I run this bakery in Brooklyn. Let’s say that we close our business on Friday, and we’ve got $100,000 sitting in our checking account, and we’re closed on Saturday, Sunday because it’s the July 4th holiday. So we know $100,000 is just going to be sitting in our checking account Saturday, Sunday, not being put to work. With Stable Sea, you can put that to work in a tokenized money market fund because it operates 24/7, 365.  So what we see is businesses now that close their books on Friday can just do an auto-sweep into a money market fund, generate yield Saturday, Sunday, get back to U.S. dollars for their open of business. And again, it’s one of those things where it might not sound like the most revolutionary concept in the world, but if you can help businesses, especially in the mid-market, lower mid-market, operate a little bit more efficiently, I mean, saving an additional $20,000, $30,000, $40,000 a year is a big value-add to them in the real economy, right? If you’re a large Fortune 100 company, you probably don’t care, or it’s not as valuable. But for us, the companies that run on us, these small increments, standing on the shoulders of giants, a small derivation in innovation is actually really valuable for the end user.Share on X  Well, I think it is because, looking at the inverse of it, I used to be in banking, and I know that one of the biggest moneymakers for banks is float. Yeah. So it’s basically the money that doesn’t earn interest, which they have access to just because they cash the check a day later or make the wire two days instead of one day. And essentially, what you’re doing is you’re taking this money from the bank and you’re giving it to the company that actually should have it in the first place, right? Yep.  Then the question is, how are the banks going to survive if you take away their bread?  Yeah. That is the debate that’s happening right now. I think if you’re one of your G-SIBs, your major banks, you’re going to be okay. So the top 25 banks in the U.S. are going to be just fine, and they make money in tons of different ways, and you’re not going to disrupt that trust ultimately. In the long tail is where I worry because a lot of credit unions and a lot of state banks, they just don’t offer—they’re smaller banks, right?  So they’re not managing—they don’t have a ton of money by virtue of assets under management. So with the deposits that they receive, they need to turn around and recycle that because it’s fractional depository lending, meaning that if I have a checking account, I put 10 grand into it, the bank is then turning around with that 10 grand, making money on it somehow. And you have to think, how does the bank actually make money on that? Well, they typically make it through debt facilities, so mortgages, auto loans, student loans, cards, et cetera.  They’re putting it to work in high-margin financial products back into the economy. They’re not taking that and then buying some money market fund from an asset manager where they make 10 basis points and provisioning that out to the businesses, right? There, I think that we’re seeing a lot of companies move off. They’re taking their money from their checking account, moving it to Stable Sea because we can put it in these capital markets products.  I think that overall, that’s a net positive for the business because the business now has a higher degree of operating capital on hand that they can make money with. But by the same token, if the state banks and the credit unions don’t wake up and respond to this, their depository base will be, if not fully eroded, tarnished and diminished. And what that means for local community health, I’m not sure because banks do play a very important role, especially credit unions and local banks.  You know your local community the best, and so you lend back into that community with the deposits that you receive from that community. So there’s a cyclicality to it which has some poetry in it. And so it’s not apparently clear to me that some of this stuff is going to be a net positive. But at the same time, living in one of the most capitalistic countries and markets in the world, there’s a clear demand for this, and if the banks aren’t going to wake up and serve it, we’ll be there to help businesses do what’s best for them.  Yeah. It’s the invisible hand, right? You increase the efficiency, which will force the banks to also increase their efficiency. And yeah, the smaller banks might have to be more innovative. But they are more nimble, so maybe there are other ways that they can serve the community.  So I’d like to switch gears here and talk a little bit about frameworks. So this is a podcast of frameworks, and 350 episodes in, I’m always looking for some kind of a framework, shortcut, a mental model that you have come across or developed yourself that helps you make more sense of the world around you, get something done. It can be explained in three to five steps, something like that, which the listeners might get some ideas out of and be able to improve their businesses. So what comes to mind for you?  Yeah, two things. I’ll start with a high-level analogy and then go a little deeper. It’s the World Cup right now, so I don’t know if you or any of your listeners are following the World Cup. But if you watch Messi play, his playing style is a great analogy for startups. And whether that be a startup externally where you raise venture capital, or even just intrapreneurship if you’re inside of a big company and you’re on an innovation team, et cetera.  From the outside, it looks like startups are always building things and they’re always moving fast, et cetera. But in reality, if you watch Messi play, Messi really doesn’t move that much on the pitch. He just sits around, he observes, he watches, and then when a hole opens up and some opportunity opens up, he breaks for it, and then he goes and executes. But he spends the vast majority of time just sitting there, tinkering, observing, watching. And then if you’re watching him, you’re like, “He’s not working that hard. He’s just sitting around.”  And then he goes and executes. But he’s always observing, he’s always watching, and there’s a real learning in that. I feel like Silicon Valley, as it relates to startups, there’s this pressure that you always have to be building, you always have to be shipping, you always have to be constantly grinding. I think that wisdom is actually counterintuitive because you want to have a thesis in the market, and then you want to be able to test that thesis quickly. So in some respects, you do want to be shipping all the time.  But you don’t want to be working for the sake of work. You want to have a thesis in the market. You want to be building towards that thesis that will happen in the next six months, 12 months, two years. And then you always want to be learning and talking to the market because when that hole does open up, you’ll have the right product at the right time to go and execute on. So I think that's something that we have learned: being patient and staying resolute in your conviction that what you're building is right.Share on X And it can’t just be a gut feeling. It has to be validated by the market.  So we do a bunch of A/B tests every 30 days where we have an idea about a feature or a product or a direction we want to take it. And the thing is, if you can’t get five CEOs on the phone in 30 days to validate if a product is going to be interesting or not, then that’s a signal in and of itself, right? So for anything that we do, we always have a thesis on the market, and then we spend 30 days testing it. And at the end of those 30 days, we get some feedback.  The reason why we do these A/B tests, just to drill down into one level further, is that the idea of a startup or a product that you have in your head, it’s a living entity. It’s always evolving on the basis of who you talk to, what your team is thinking, what you’re reading in the market, et cetera.  And then you’re trying to take that living concept and plug it into a market. But the market itself is also living, right?  You’ve got regulations, you’ve got different macroeconomic cycles, you’ve got companies that have budget, don’t have budget, people getting laid off in different organizations. The market itself is living and evolving. So you have this idea that is living and evolving, and you have a market that is living and evolving, and you need those two things to stick together. And so for us, we’re always wedded to this concept that product at time A is not going to be product at time Z. You need to constantly be doing A/B tests to figure out what that right fit is.  And then when you have that fit, you need to double down on it and grow it into a line of business. But you also need to recognize that there are very few businesses in this world that have been around for more than 200 years, if at all. So whatever your original product idea is, or whatever the feature that gave you product-market fit is today, you have to consciously be aware that, “Hey, that’s not going to be the thing that gets us to IPO in five years’ time.” So you can’t be lulled into this false sense of security. You always have to be waiting, observing, testing, experimenting, growing, and then if you see opportunity, you strike.  Yeah, this is fascinating. Especially now, things are moving very fast with AI creating capabilities all the time for people to test products or to create capabilities that then get disrupted in a couple of months. So it’s interesting that you say that you have to stay resolute in your conviction. So there is a tension there. You build a thesis and you stay resolute, but then you’re testing and the market might tell you not to be resolute.  And then you also told me that companies don’t live forever. So how do you resolve this tension of being stable with your thesis and not letting your conviction be upended, but also being nimble in the changing market dynamics and everything to respond to? So how do you manage the tension?  Yeah, it’s a good question. There has to be a high-level thesis, right? So for us at Stable Sea, it is as simple as: In 10 years from now, will more finance teams and businesses be on-chain or off-chain than today? And so our high-level conviction is, in 10 years’ time, more businesses will be running their treasury stack on-chain. So that’s our conviction. We know, come hell or high water, that is going to be where the puck is going to be in the future, and we’re going to skate to that future.  So if you start with this high-level conviction that more companies are coming on-chain, that is what we’re building for. Now, how they come on-chain is a matter of debate, which is where the A/B test comes in, right? We originally thought it was going to be for payments. So we built all the stablecoin infrastructure to do global payments in 40 different markets.  Turned out to be not the case, actually. And then we started tinkering as we saw the data coming in and were like, “Okay, some companies are using stablecoins for payments, but there’s a bunch of inefficiencies. That world’s still going to take two or three years to wake up. Where is the wedge in the market today?” And so when we started experimenting with capital markets products, we found that there was this massive opportunity that businesses just didn’t have access to a diverse array of yield-bearing strategies, and they wanted that.  And so that was where we were like, okay, let’s get businesses into the on-chain economy through capital markets. And then what we’re finding is, as folks come onto the platform, everyone uses us today for capital markets, and then 20, 30% of our companies say, “Actually, I do have a cross-border payment need, and I already hold money with you. Can you facilitate that payment or that settlement to Mexico, Colombia, Brazil, South Africa, et cetera?”  So for us, when I say you need to stay resolute in your conviction, our why is always: We want to take Wall Street-grade financial services and provision them out to Main Street.Share on X The conviction behind that is that you can do that through on-chain technology. And then in 10 years from now, more businesses will be on-chain than off-chain. How we get to that future in 10 years, who knows, right? And that’s where the fun of the startup is.  You’re always testing. And so for us, we’ve waxed and waned on different product strategies, primarily because the market has changed. And as people start to educate themselves on what the value props are, you see where folks find value, and then you build to that value. And in theory, in three, five, seven years, we should be living in a world where more companies are operating on-chain, and then they might use that full product suite.  But out of the gate, it’s kind of like, where is that value, that wedge? You charge as hard as you can into that wedge, and then you continue to expand your product set over time. All with that high-level conviction of, in 10 years from now, we believe that more businesses will be on-chain than off-chain.  So basically, you want to find the point where you can penetrate that market opportunity, and then it’s a land-and-expand kind of thing. And then you expand from there as the market opportunities evolve over time. But you already have a customer, you’re already building trust with them, and now they’re going to be more disposed to buying from you.  Yeah, that’s right. And I think it’s interesting from a mental place being a startup because you’re forced to think so short-term because you just need to generate revenue, get to the next capital round, et cetera. So you’re always building for the moment. But what we try to do at Stable Sea is we try to think as if we were already a Vanguard and a large company, to the extent that we have the luxury of planning for 10 years.  If you think about it in that regard, it takes a lot of the day-to-day anxiety away. It’s a little bit like, if you listen to Warren Buffett, any time that there’s volatility in the market, he’s like, “Well, it doesn’t really bother me because I’m investing for 50 years.” So, is it up 20%, down 20%? Who cares? In 50 years, it’s going to be up 200%, so that’s all I’m worried about, right? And there’s a real luxury when you come and think about it that way. So that’s why I think if you’re founding anything, or if you’re starting something inside of a company as an intrapreneur, you need to have a strong conviction on where the market’s headed in five or 10 years, and then you need to test towards that future. But that also makes the day-to-day operations of the business a little bit more palatable.  So often, you can get caught up in this whipsaw of, “Big Company A launched this product. Regulation came down, wiped out this company. This competitor raised a Series C, and they have way more money in the bank than we do.” And so you can get caught up in all this minutiae, but it doesn’t really matter if you sit back and you say, “I know that I’m going to find a way to make this business exist for the next 10 years.” In 10 years’ time, what does the future look like? Do I feel strongly that that’s going to be the case? Cool. I’m going to build towards that future. And then whatever the headwinds are in the interim, they’re just short-term temporal problems that kind of come and go along.  Yeah. I mean, I totally agree with you. And interestingly, 20 years ago, or 25 years ago, I didn’t feel like I had enough time to think that long term. But now that I’m older, I actually am more patient to have the long view, which is very counterintuitive.  And Dan Sullivan, who is a coach and the founder of Strategic Coach, he is now, I think, north of 80, and he has this thesis that even at his age, he has a 25-year plan, and that allows him to actually create more value. So that’s fascinating. So switching gears here, what drives growth in your business right now?  Yeah. So we govern the business with an assets under management model. So we have USDC, we’ve got money market funds, we’ve got fixed-income products, we’ve got Bitcoin on platform. So we just look at overarching platform balance. And so that’s the primary, very simple heuristic for how we define success: Is that thing growing month over month, quarter over quarter? That’s how we define growth and measure our growth.  But again, the value prop in terms of what drives that, why do companies actually sign up to Stable Sea? Primarily because they just don’t have access. Almost every business that we have talked to so far, and honestly every business that I’ve interacted with, has idle cash sitting in a checking account someplace. Full stop. And that idle cash could sit there for the weekend, i.e., two days, or it could sit for a quarter. If you’re gearing up for quarterly bonuses in Q1, you will escrow a million, $2 million in Q4 so you can pay out in Q1. Not just the U.S. economy, but every economy, there’s just cash sitting around at a bank, and it’s being underutilized.  And so for us, when we go and finally chat to businesses in the mid-market, lower mid-market, even SMBs, we have a customer on platform that invests $2,500 every week. It almost looks like a checking account, or almost looks like retail behavior in some ways. But they do it because they say, “Hey, I don’t make a lot of money with my business, but if I can eke an additional two, three grand at the end of the year, that’s valuable to me.” And there’s a real poetry to that because they’ve never had access to it. They’ve always wanted it.  But banks, large and small, won’t go build for the long tail of the economy. And so finally, we show up and we say, “Hey, here’s your menu of investment options. Here’s the risk profiles. Here’s how you should think of it. Based on the seasonality of your business, we can get you into the right products.” There’s real utility there, and that’s what kind of drives the value proposition and the growth of the business and the business’s assets under management overall.  So you’re looking for opportunities where you can be additive to customers, where there’s a situation where maybe there’s a gap in the market or there’s friction that they are experiencing with investing their money, and you can be the wedge in that situation and offer them a 3X better solution.  Yeah. Correct. Correct. And again, our tagline internally is, “Keep your bank, upgrade your capital.” Because we really don’t want to compete with the checking account. Where you run payroll, where your invoices land if someone pays you, your day-to-day spend, keep your banking relationships because it’s very difficult to usurp that. And also, we don’t want to get into that. That puts us squarely in this neobank realm where you’ve got great companies like Mercury and Rho and Ramp and Brex and a thousand other companies there.  We don’t really want to go compete with that. We’re more of, if you had the privilege of working with some of the largest transaction banks in the world, that’s what we’re trying to be and essentially provision those services out to the real economy, which is typically access to capital markets, access to global foreign exchange for payments and settlement, and then advisory services, tax reporting, et cetera.  Almost like a democratized private banking service.  Yeah. Yeah. All of us at Stable Sea, we’re trying really hard to steer away from the banking narrative, but yes, in the future, if you take that 10-year perspective, yeah, we will most likely be a private banking solution, a democratized version of that.  Yeah. Fascinating. So what’s one thing that you’re actively trying to figure out right now in your business?  Yeah, it’s a great question. I mean, the one thing that we’re actively trying to figure out is two things, really. One is, so we build directly into ERP systems like QuickBooks or NetSuite or Oracle or SAP, and we have advisory services. So we take a lot of that data, we build our own model weights on top of it, and then we offer that out to our customers so that they can essentially query their own transaction data and use it for different services.  Now, we’ve got strong signal on the first value proposition for that, but I’m curious mostly for owner-operators in the real economy: What are their biggest back-office pain points? And that’s something that we’re trying to figure out because we hear a lot, “Yes, we don’t have access to savings products.” Okay, we can solve that today. “Yes, cross-border payments are frustrating, slow, and expensive.” Yes, we solve that today.  So we’re looking for that third pillar. One of our VCs always talks to us about morphine versus vitamins, where it’s kind of a crude analogy, but if you go to the hospital and you’re in dire pain, you don’t want to be sold vitamins. You want some morphine, and that’s what you’re going there for, right? And when you’re in a startup and you create products, you’re really looking for that morphine of, people just cannot live without this product. And then you can sell all the value-added services around it, which are essentially the vitamins.  And so for us, we’ve found two morphine-like products where there’s a real pain point for accessing capital markets. Primarily, there is no ability to access that today. And then second, cross-border payments: slow, difficult, expensive, opaque, all the things. Solved that. So the third one that we’re trying to figure out now is: How do we A/B test quickly enough to figure out—we have a treasure trove of data building into ERP systems—what is the highest signal-to-noise product that we can build using a diverse data set to help owners operate their back office a little more efficiently?  So you say highest signal-to-noise. Is it the ratio of signal to noise? So what is the product value which you can detect as being a need in the market? Is this what you mean by that? Yeah, yeah. It’s like, what is that one pain point that is so resolute that people are like, “I would do anything to have this thing solved”? There’s all these value-adds like cash flow reporting and automating some of your tax stuff at the end of the year, which are all nice-to-haves. We’re curious. We’re trying to figure out what it is that folks will say, “I’ve got all this data in my ERP system. I would love to know one, two, three things and have A, B, C automated so my back office can run a little bit more efficiently and my accountant doesn’t have to ask me every quarter-end, ‘Where is X, Y, and Z statement?'”  Yeah. I mean, I’ve got some ideas, but I’m sure that you’ve already thought about most of it, so I’m not going to share them. So if someone is listening to this who is a small business or medium-sized business, and they’ve got some cash just sitting around, or they’d like to invest, but they don’t have big enough balances or the transaction costs are prohibitive for their size of investment, whatever the reason, but they are curious about exploring how to have access to better FX rates, more investment products, where can they learn more, and how can they connect with you?  Of course. Well, connect with me on LinkedIn, Tanner Taddeo, pretty easy to find. And then the platform is stablesea.com. So, free to sign up, no cost whatsoever. Also, no cost to use the platform at all. So feel free to sign up right online, and then, yeah, typically it takes us two days to run through the KYB document requests, and then you’re up and running. So, pretty simple. Stablesea.com, free to sign up and start putting your capital to work. Awesome. We try and make it as seamless as possible.  So I’m just wondering, the name of the company, is it something to do with stablecoin? Is it a sea of opportunities for stablecoin?  It was stablecoin for sure. So we started with the word “stable” and then “sea” because we wanted to provide a sea of liquidity. Both for FX, because we do B2B settlements, which are typically large transactions, low volume. You’re not doing twenty $10 million transactions a day. You’re typically doing one $10 million transaction a week or every other week. But you need a deep pool of liquidity to service that.  And then also, from a capital markets perspective, we wanted to be able to provide a sea of liquidity there for different investment options that companies could access based on the seasonality of their cash flow or the risk tolerance that they have as a business. So stable meets sea, so Stable Sea.  Okay. Well, if you want to keep your bank but upgrade your capital, then reach out to Tanner Taddeo, the CEO and Co-Founder of Stable Sea. He’ll get you more investment opportunities that maybe you have not had access to. And if you enjoyed this episode, make sure you subscribe and follow us on Apple Podcasts. Do not miss any episode with exciting entrepreneurs like Tanner. So thanks, Tanner, for coming, and thank you for listening.  Thank you, Steve. Important Links: Tanner's LinkedIn Tanner's website

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Keith breaks down why global crises, geopolitical shocks, and nonstop "doom" headlines haven't stopped stocks and real estate from reaching near all-time highs, and what that means for investors focused on inflation-resistant assets.  He also discusses Memphis as a surprising cash-flow market poised to benefit from the AI boom, sharing details on an upcoming webinar with Mid South Homebuyers.  Keith is joined by real estate investor and educator Jared Garfield to unpack the "Seven-Figure Solution," a strategy that combines cash-flowing rentals with tax-advantaged life insurance to create liquidity, reduce risk, and support long-term retirement income.  Together, they explore how disciplined portfolio growth, smart leverage, and coordinated tax planning can help real estate investors better align their assets with their long-term financial goals. Episode Page: GetRichEducation.com/619 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching: GREinvestmentcoach.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  For predictable 10-12% quarterly returns, visit FreedomFamilyInvestments.com/GRE or text  FAMILY to 66866  Join Mid South Home Buyers' one-time, free live webinar featuring Keith Weinhold on September 30 at GetRichEducation.com/MidSouth to learn how Memphis' economic expansion could create new real estate investment opportunities, and have your questions answered in real time. Will you please leave a review for the show? I'd be grateful. Search "how to leave an Apple Podcasts review"  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— GREletter.com  Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript: Keith Weinhold  0:02   Welcome to GRE. I'm your host Keith Weinhold. The world is about to end again. It's the economic disaster that never arrives. I'll break it down. Then you've been earning money and investing well all these years. How does it all go together? It can culminate in the seven-figure solution, it's about seeing your future today on Get Rich Education. What if I told you that one of America's strongest cash flow real estate markets is also becoming the new brains and brawn behind AI? That city is Memphis, believe it or not. And September 30th, we're going to show you why the smart money is paying attention now, along with an investing opportunity you won't want to miss. Join me, Terry Kerr and Matthew Van Horn of Mid South Homebuyers, the largest turnkey company in Memphis with more than 6,000 homes under management, for a free live webinar, the likes of which I've never done before, we're going to look at what billions in new investment could mean for jobs, housing demand, neighborhood appreciation, and your portfolio. Everyone who attends live will also get exclusive access to the best deal terms Mid South has ever offered. Reserve your free seat at getricheducation.com/midsouth again that september 30. Don't say we didn't tell you. Save your spot at getricheducation.com/midsouth.   Speaker 1  1:39   You're listening to the show that has created more financial freedom than nearly any show in the world. This is Get Rich Education.   Keith Weinhold  1:55   Welcome to GRE from Kankakee, Illinois, to Cherokee, Iowa, and across 188 nations worldwide. I'm Keith Weinhold. This is Get Recid Education, and the world is about to end. Even if you survive, your portfolio surely won't. Oh, jeez. At least that's the impression you get from mass media and what I'll call the Doom Scroll Industrial Complex. Fear creates urgency. Urgency attracts eyeballs. Eyeballs attract ad dollars. And I guess that using a slogan like "everything will probably be fine" well, that's never been a great ratings strategy. Now, can what has happened since 2020. Just this cheery little sequence: COVID, then Ukraine, Israel, Gaza, tariffs, and then the war in Iran. All that just since 2020. I mean, that right there sounds less like an economic timeline and more like a movie plot, or that the world is repeatedly spinning the wheel of misfortune. Yet after all of that, what is the result? Both stocks and residential real estate are near all-time highs. Apparently, the apocalypse has been postponed yet again-at least economically speaking. Now let's zoom out and break down these threats and a few more, all just since 2020, because 2020 is the year where, of course, you had the COVID-19 pandemic, economic shutdowns, the fastest major stock bear market in history, supply chain breakdown. You saw empty shelves, and there was unprecedented government intervention from the Paycheck Protection Program to stimulus checks to mortgage loan forbearance. Then, in 2021 and 2022, you had post-COVID inflation and supply shortages. Now, this was more of a result, not strictly geopolitical, but a major investment threat, and that led to aggressive interest rate hikes. From 2022 to the present, you have Russia's invasion of Ukraine, energy and food shocks came from that, sanctions, instability over in Europe, and really a heightened nuclear risk in 2023. You had the U.S. regional banking crisis. Remember SVB, yes, Silicon Valley Bank, Signature Bank, First Republic. They raised fears of a financial contagion that would spread like fat. Than a secret in a small town, it actually made me buy some gold. From 2023 to the present, you had the Israel-Hamas war and this broad Middle East instability, Hezbollah attacks, Houthi attacks, Red Sea shipping disruptions. It's almost like a geopolitical group project. And then from 2025 to the present, you have renewed U.S. tariffs and a global trade war, and this year you have the U.S.-Israeli war with Iran and the Strait of Hormuz disruption. That is the biggest current geopolitical investment threat because it combines all of these things: war, oil disruption, inflation, higher interest rates, and a recession risk. So it's a lot like this particularly unpleasant smoothie that's been blended together.   Keith Weinhold  5:55   All right. Well, all of that-that is just an absurd amount of uncertainty and disruption only since 2020, and though major markets are at all-time highs in the face of this, let's acknowledge that some were hurt here, like apartment building owners vulnerable to interest rate resets, and certain commercial sectors like office. Even worse, let's be sensitive to the fact that COVID in wars have resulted in a real loss of life. GRE's enduring strategy of primarily owning long-term residential rentals with fixed-rate debt has been comparatively really resilient. In fact, these calamities-they probably made you better off from the inflation that it has spurred. More people work from home. Well, that means that they're consuming our product while higher inflation debased our debt and jacked up our property values and our rents. And you know somehow every. single generation thinks that their collection of crises is uniquely terrifying, and it is not. And what do I mean by this? Well, in the 1980s, people feared war with the Soviet Union, the Cold War. A global population explosion so bad that millions or billions of people would surely die from hunger. You had the AIDS crisis. You had a hole in the ozone layer. Well, all those things. Virtually zero investors make decisions based on that stuff: an imminent Soviet attack or mass starvation from overpopulation. There is one thing that is 100% certain here, and that is that more shocks are coming. In case you don't want to sleep well, you can get worked up over the certainty of future calamities, artificial intelligence is making cyber attacks faster and more scalable. AI has even created entirely novel viruses. A confrontation between China and Taiwan that could create risk in the semiconductor space.   Keith Weinhold  8:18   A blockade that might disrupt the world's advanced chip supply, creating more inflation and more uncertainty. Here is what's changed, though, for what investors care about. You know what has changed with today's set of calamities versus those of the 1980s and earlier, because there is something, and it's a big deal for investors. Here's what's changed: recent history shows that the government does more to intervene during disasters, stimulus checks, liquidity programs where they're printing trillions, bailouts, pushing interest rates down to almost zero, quantitative easing. How about a foreclosure moratorium? Anything you know during COVID, it was a lot of these things, and it was the CARES Act, and it was a student loan payment pause. I mean, the Federal Reserve even set up emergency credit facilities. We now know that when the economic building catches fire, policymakers they rarely stand around admiring the flames. They just flood the place with currency. So the best investors they keep prudently building real estate portfolios in the face of risk, not the absence of risk, because the latter does not exist. This incessant government intervention, whether you agree with it or not, it gives you more safety cushions the next time that things fall apart. That's why what appears risk. Is still risky, but less so. So there is more incentive to take on prudent risk than I've ever seen. You know, no politician wants America to fall apart under their watch. So increasingly, they'll just paper over the problem by printing, printing, printing, and then, therefore, the resultant inflation, the consequence of this, that can be dealt with under the next president's watch, not theirs. In fact, future calamities they almost make you want to own scarce real assets that benefit from inflation, not a hedge, a benefit. Trying to time every war, election, banking crisis, tariff announcement, virus, and Fed decision. Trying to time all of those things-that is usually ineffective. You either own more assets, or you get left behind in everything that's happened since 2020. That just underscores this. In fact, Berkshire Hathaway, the closely watched company that Warren Buffett ran for a long time, but he still has influence in.   Keith Weinhold  11:16   You know, they recently began moving out of cash and into assets, they ended their long net selling stretch. In fact, in the latest quarter ended, they've now done the most buying that they've done since early 2022. They have jumped back in the game. It appears that Berkshire Hathaway got tired of sitting on the sidelines and seeing others make gains, and they're pretty bullish on housing too. They bought a home builder. The bottom line here is that shocks are going to keep arriving, and yet productive assets and well-financed residential real estate has repeatedly survived them and just continued appreciating. Don't wait for a risk-free world because you'll wait forever. When you evaluate all these calamities, just since 2020, again, COVID, Ukraine, Israel, Gaza, tariffs, and war in Iran, and then you realize that both real estate and stocks are near all-time highs anyway, and the government keeps backstopping asset owners like never before. This is just a fresh angle on how much better off you are when you prudently own more inflation-benefiting assets sooner. I want to tell you about something called the seven-figure solution. You've been here listening to me weekly since 2014. You've been earning money. You've been investing well, and now you're going to see how it all goes together. It's about making sure that your real estate and your other assets appropriately fund your retirement in a way that gives you protection against market downturns, a tax advantage pool of liquidity, the death benefit of a life insurance policy, and actually introduces you to a new form of leverage all at the same time. Now the liquidity here is key because this is where a 401(k) or IRA limit you, they have taxes and penalties if you want to use those funds early. This doesn't, but the seven-figure solution-it's not just for retirees. In fact, our own in-house investment coach Narayish uses something like this, and he is in his 30s. Let's discuss it, and then you'll see where I have an invitation for you, where you can get involved. I'd like to welcome in a guest we last had on the show a few years ago.   Keith Weinhold  13:54   He's a frequent guest on popular shows, including our friends over at the Real Estate Guys Radio Show, and this guest has also been a terrestrial radio show host himself. He's a long-time real estate educator and an active investor, just like you and I. So he speaks from experience and not a textbook. He's the creator of what we'll discuss today, called the Seven Figure Solution. Welcome back to the show, Jared Garfield.   Jared Garfield  14:21   Hey, it's great to be with you again. Thanks for having me.   Keith Weinhold  14:25   It's so good. Now you're with the Haven Bridge Group, and you help people, especially real estate investors, with what's called the seven-figure solution. Tell us about it.   Jared Garfield  14:37   it. Well, Haven Bridge, we get the name for that because people are really looking for a haven of safety, and the bridge is kind of what crosses the gaps that could kind of destroy your wealth, and it's the path to get there. So we want to take people on a path to safety, and the seven-figure solution is the idea that if you're going to be drawing out even 4% per year to not outlive your money, because people are living now. To 8590, 95 years old, and so that means you could have 35 years in retirement. And with inflation and different things like that, you really have to have a lot bigger nest egg than what most people realize. So a seven-figure solution is how to get to more than a million dollars liquid that you can draw on in a tax advantaged manner for the rest of your life, while also having living benefits. And we pull real estate in with it because we want people to have 10 or 15 or 20 rental properties by the time they retired. That they 1031 exchange regularly, so that they're always keeping tax advantages. So that even in retirement you have strong tax advantages, and ultimately we think that when you're 65 or 70, you might want to go from 30 single-family houses to 1031 exchange into one institutional asset that's a little bit less management intensive.   Keith Weinhold  15:57   Okay, so this is a tax advantage vehicle that real estate investors can use during their investing career, and those tax advantages then really convert into something that you can use in retirement as well.   Jared Garfield  16:11   Yes, what it does is it's a vehicle that instead of saving the money from your cash flow from your rental properties in the bank, we say, well, why wouldn't you rather invest in something where it grows tax-free, number one, and then number two, you don't have the penalties like you would with a 401k, where you get taxed and you get penalized 10% if you pull it out. It's liquid, usually about 80 to 90% liquid, so you can pull from it whenever you like, and you can use it for down payments to grow your real estate portfolio. But you can earn sometimes between five and even seven or 8% in a tax advantaged manner where you're not taxed on it, but you're earning a much higher return than if you put the cash flow into a bank.   Keith Weinhold  16:51   All right, so you're building this tax advantage pool of capital that grows over time, and this is important to have some liquidity. You know, Jared, I've often talked to our audience, about three to 5% of your portfolio value ought to be kept liquid. Maybe with a vehicle like this, you would want to put in more of that because real estate investors we have expenses, so you have this liquidity to cover things like vacancies and major repairs, or perhaps you could even use this account for future down payments on additional investment properties. Is that how it's utilized?   Jared Garfield  17:27   Yeah, absolutely. And I get it partially this way because in my early 20s, I got up to where I had about six rentals, and at the time, I also owned a real estate brokerage, and I was doing very well. I was making a six-figure income and things. And what happened is, I back when a   Keith Weinhold  17:41   six-figure income was a big deal.   Jared Garfield  17:43   Yeah, back in the early 2000s, it was a little bit better money. But the funny thing was, I had four rental properties that all went vacant at the same exact time, and so now all of a sudden, I was paying like 4500 bucks a month in mortgages, not counting the house I lived in, but I had to cover four mortgages on four of my rental properties all at the same time, and I hadn't saved the cash flow, so I didn't have a huge emergency fund. All my liquid capital went into down payments and into renovation money to rehab the properties. Okay, and so it put me in a real bind, and I was out driving a Volvo S80 around throwing two paper routes in the mornings, and then going to my real estate brokerage after my paper routes to cover those rental properties. And so this was basically meant as a way to say, okay, this is a way that I have the liquidity. I'm getting a higher return, but now my tenants are not only buying me the houses, but they're also giving me a couple million dollars in life insurance, and they're wrapping my investment component or the cash value of that, the cash value part of the policy. They're wrapping that in a way that it grows tax-free, so it just accomplishes a lot of things. But the other thing that's a beautiful thing about it is there's a lot of things that we call living benefits.   Keith Weinhold  19:02   All right, so you have the living benefits and the tax advantages, and I know how you have pointed out that this can save an investor 10s of 1000s of dollars in taxes per year and hundreds of 1000s or more over time. Can you tell us more about that?   Jared Garfield  19:20   Yeah, because what happens is the money that goes in is growing tax-free, so you don't get taxed on any of the growth. But what we really like about it is, let's say that you're cash-flowing $2,000 a month off your rental properties, and you're putting 2000 a month into this policy. Usually, after the first year, if you're max funding, 80 to 90% of that's liquid. So if you've got 24,000 sitting in there, you've got access to 89 to 90% of the money. So it's pretty liquid. But what happens is over a 20 or 30 year period, that money could turn into three or 400,000 a year that you can pull out in the form of policy loans. And by doing that, it's not taxed. And you can pull that out throughout your retirement tax-free. So if you were paying 25% in taxes and you're pulling out 200 grand a year, that's $50,000 a year in retirement that you're saving in taxes. But that could be over a 20 or 30-year period. So over 20 years, that 50,000 could end up being a lot of money. I mean, 500,000 over 10 years, a million over 20, and so that means you don't have to accumulate as much. But a lot of our investors love it because they'll save it up with discipline, and then that way it's there if the furnace blows. So it makes your real estate safer, but it also becomes your down payment funds to expand your portfolio.   Keith Weinhold  20:40   Okay, the seven-figure solution is the vehicle that we're talking about here, and what part of the IRS code, just briefly, is it that gives this tax advantage?   Jared Garfield  20:51   It's Internal Revenue Code Section 79 that allows it to grow tax-free. In the 1980 s, doctors and a lot of very wealthy people were using this to the point that IRS changed the laws. They went and sued the insurance companies because doctors would go in and dump $2 million in, and they would buy a $2 million life insurance policy. So they were self-insured, which meant that they didn't have any cost of mortality on it. So they basically got all the benefits of the tax-free growth and the tax-free pullout. And the IRS said, "Wait a minute! We think you're doing tax evasion. So what they did is they came around and they said, "We're not going to let you use this loophole anymore for the very wealthiest people to have this. So they came to a compromise, and the compromise was that if you wanted to put in 2 million, you had to maintain a corridor where there had to be a little bit higher amount of life insurance. So you might have to buy a $2.3 million policy, but then you could still dump, say, $2 million in and have all the tax advantages. It's a strategy that's been used for over 100 years by families like the Rockefellers and the Hunts and J.P. Morgan. The very wealthiest families have always used these strategies to grow and protect their wealth.   Keith Weinhold  21:59   Okay, so it's a part of the tax code that allows cash value to accumulate within and be withdrawn from a life insurance policy tax-free.   Jared Garfield  22:11   Correct, and it gives you living benefits, which I alluded to a minute ago. And the living benefits are if if you end up having to go through things like long-term care, disability, if you can't perform, you know certain functions for a certain period of time, chronic illness, critical illness, terminal illness. If any of those things happen to you, you can borrow against the policy and have access to money during those things that would normally decimate your wealth, because you can actually access the death benefit in advance.   Keith Weinhold  22:42   Now I know a little about the six risks. Tell us about that.   Jared Garfield  22:47   Well, Keith, there are six risks that all investors face regularly. The first one is inflation erosion, and that means that your purchasing power often ends up leaking out of your balance. And the balance might look fine, but inflation can eat away at it. So even if you've raised a lot of money, if inflation means that you can buy half as much five or 10 years from now, then you know your wealth isn't as big as you thought. The second is the volatility setback, and that's sequence of return risk. That means that if you retire on a bad year where things really bad, stock market drops, you could end up using your money at a time where it really weakens your wealth because it may have dropped by 50% So if you had a million, now you have a half a million, and you're spending 100,000 a year. At the end of year one, you might only have 400,000 left. So sequence of of return risks from volatility setback, tax drain. That's just the compounding cost of an uncoordinated tax picture can really be a problem, and then the next one is liquidity. If you don't have liquidity and you've locked up all your money and you can't access it until you're 59 and a half without significant taxation and 10% penalties, the liquidity lock is a problem. There's the longevity paradox. What happens if you outlive your money, you know. So living longer is a benefit, but it exposes you to where you might not have enough money to live on in your latter years. The last two are care avalanche, and that is if an unexpected health event happens at the wrong time, it could really destroy your wealth because medical costs have spiraled out of control, and then the last one is the line to land, and that's only one of the six that's really about growth.   Keith Weinhold  24:28   Right, only one of the six of those was about growth. I can't stand the longevity paradox. Yeah, we think we all want to live a long time, but then it's more difficult to fund living a long time, and if you outlive everybody, nobody shows up at your funeral either. The longevity paradox-one of the six risks that the seven-figure solution can really help you with. Now, tell us more about funding it, so you can get a good cash value balance in. There, I know that one way you do it is actually with short-term rentals instead of a paycheck.   Jared Garfield  25:06   We love short-term rentals, especially for our highest net worth clients, because the reason is is the bonus depreciation of the big beautiful bill. Oh, right! You could take up to like 150 or even $200,000 in year one, they take that depreciation that they used to spread out over a whole lot of years, and they make it to where if you get with your CPA and you analyze your short-term rental, you could potentially take all of the furnishings, all of the artwork, all of the dishes and things that are in the property. Sometimes they'll let you take components like the appliances, the air conditioning unit, the furnace, and they'll let you take it all in year one instead of having to line item it and spread it out over you know 27 and a half years. So what this means is, if you have a short term rental, then you you might get like 150 to 200,000 tax break in the first year on the right property, but it's better than that because instead of having to have like 750 hours to hit full-time real estate professional status, it cuts the hours that you have to have significantly down. I think it's more like 150 hours or something like that, or 300. It's like half the hours, and so you can hit the benefits of taking unlimited passive loss much easier if you have a couple of short-term rentals.   Keith Weinhold  26:24   You're listening to Get Rich Education. We're talking with Jared Garfield about the seven-figure solution, something that takes some time to understand, but it can give you a tax-advantaged pool of capital that grows over time, and it also creates this overall tailwind, not just during your investor life, but then it provides tax advantaged retirement income at the same time. More on this when we come back. You're listening to Get Rich Education. I'm your host Keith Weinhold. What if you got your mortgage loans the same place I get mine? You sure can at Ridge Lending Group and MLS 42056. They provided GRE listeners with more loans than anyone because Ridge specializes in investment property. They'll help you build a long-term plan for growing your real estate empire with leverage. Start your prequal and even chat directly with President Caeli Ridge while it's on your mind. Start at ridgelendinggroup.com, that's ridgelendinggroup.com.   Keith Weinhold  27:25   Let me ask you something: If you've worked hard to build wealth, is your money positioned to actually support your goals? A lot of accredited investors leave capital sitting in cash because it feels safe, but inflation and missed income opportunities can quietly erode its value. Freedom Family Investments offers freedom notes for investors seeking structured income backed by real estate. It's a straightforward approach built on real assets, not speculation. And full disclosure, I'm an investor myself. What I like is that their team walks you through how it all works, so you can decide if it aligns with your portfolio and income goals. Every investment carries risk, and nothing is guaranteed. But with a track record of consistent, on-time investor payouts, they built real credibility. Go to freedomfamilyinvestments.com to book a clarity call, or text family to 66866. That's family 266866. This is the   Speaker 2  28:28   Real Wealth Network's Kathy Betke, and you are listening to the Always Valuable Get Rich Education with Keith Weinhold.   Keith Weinhold  28:46   Welcome back to Get Rich Education. I'm your host Keith Weinhold. We're talking about the seven-figure solution with Jared Garfield. Something that can be a particular benefit to real estate investors both during your investing career and then once you're in retirement as well, and this can take the form of either an indexed universal life policy or a whole life policy. There are a lot of wrong ways to do this and wrong things to get into. We're talking about the right way. Part of that is funding it as best you can. Can you tell us more about that?   Jared Garfield  29:20   Well, there's a lot of different ways to fund it. A lot of our clients will come in. We have some people who will use rollovers if they're nearing the end of retirement. Some people will roll over a 401k into a cash value life insurance policy because they can do it over a five or seven year period, and they pay the taxes when they roll it over, so their taxes go up a little bit for five or seven years of retirement, but then what happens is that means that during their retirement they're not taxed on the income all the way through retirement, so that can save really significantly. But a lot of our clients will do a flip and dump 40 or 50,000 a year in by just saying I'm going to do one flip a year and use that to. Fund the whole thing, or they'll take the cash flow and dump the cash flow into here instead of the bank, just so that they get the living benefits and they get the much higher return with still 80 to 90% liquidity. So could be cash flow from rentals, could be money from a flip, or sometimes some of these short-term rentals can make 20 to $30,000 a year, and if you get $100,000 tax break, you have more money that's not going to Uncle Sam, and then because that's your discretionary income now, because of the tax break, you could use that money to for down payments to grow your portfolio or to do a flip.   Keith Weinhold  30:35   Now, Jared, I sort of think of the cash value that you're accumulating in this policy as safe money that grows at a slow to moderate steady rate, but if it rarely or ever loses value, can you tell us more about that and the rate of return expected in the policy?   Jared Garfield  30:52   Yeah, absolutely. With the IULs, it's going to depend a little bit upon the carriers and stuff like that, and whether you go with a mutual company and stuff like that. It can vary, but a lot of times people are going with things that are what we call indexed. So you can actually index it to the S and p5 100 if you think that we're going to have a bull market and the market's going to really go up strongly. You can index it to the market, and sometimes they'll have a participation rate where they'll say, "Okay, you can participate up to 12% So if the stock market does 17% the most you can make is 12% So you're giving up a little bit of upside, but that's still not nothing. I mean, that's not three or 4% You can still make you know 10 or 12% that year, but you're giving up the part above the participation rate. And the reason that you do that is if the market tanks and drops by 30 or 40% The worst you can do is 0% return. Zero is my hero because you didn't lose anything. So if you had a half a million sitting there, you don't go down to 250 and then wait eight years to get back to break even. Instead, you're still at half a million. And if the market goes up next year by 20% and you had a 10% cap. Then your half a million, you know, is now at 550,000. When everybody else, if it went up by 10% they're at half the amount that they had.   Keith Weinhold  32:13   You have a story or example of how you've helped somebody with this, because I know a lot of investors that are passionate about utilizing the cash value inside an insurance policy tell us.   Jared Garfield  32:28   Well, I've got one friend who's a developer, and he did like a $5 million policy. And every time he flip a subdivision or flip a house, and let's back   Keith Weinhold  32:36   up. Does a $5 million policy mean that's the death benefit?   Jared Garfield  32:40   Yeah, that's the death benefit. Thanks for catching that. That's the death benefit, but that also has a correlation to how much money you can dump into it. So if you have a $5 million policy, you can dump a lot more money in for the tax free growth. And the quicker you hit that death benefit amount, at that point you're self-insured, and so at that point you really don't have cost of insurance on administering the policy hardly at all, and so at that point, when you're what we call self-insured, the return on the investment becomes a lot better. But this particular developer was able to use this policy because he had so much cash value in, and if he sold a house, he'd take 40,000. If he sold 10 a year, he might take you know 400,000 and dump it into this policy, and so it made him bankable. And he was able to use the money to go out and do new subdivision developments because the bank would actually use the policy as the collateral to be able to give him loans at much lower interest rates.   Keith Weinhold  33:38   That's valuable. Tell us about that. I don't want to use the wrong words here, but then effectively with this example, are you borrowing against the funds in the policy? So therefore, you can get those dollars working for you somewhere else, all while simultaneously the cash value continues to compound and grow. Sort of another form of leverage.   Jared Garfield  34:01   Correct. What they basically do is they basically freeze part of the amount and say, okay, we're using this as the collateral and stuff like that to be able to do the loan. But if it grows and and makes 7% you're still making the money off of the money that's sitting in there. It's just collateralized as part of the loan. And some people will even use it to like go buy a car, like instead of buying a car and going getting a bank loan and paying 7% to the bank, they might borrow money out, go pay cash for the car from the life insurance policy loan, and pay 2% instead of 7% But they're paying it to themselves, and as long as they're paying the interest to themselves, if the money that they borrow out could potentially still earn the same money and earn 7% even though you had borrowed out. So it's doing two things for you at the same time, as long as you're paying that loan interest. But and that depends on the option that you take when you do your loan.   Keith Weinhold  34:54   We love leverage around here. Leverage trumps compound interest. In so many ways. Oh, I'm really glad that you told us some more about that using the funds in more than one way at the same time. Tell us more about what it costs for the investor, the costs of setting this up, and then what some of those trade-offs are, Jared.   Jared Garfield  35:18   Well, that really depends on the individual. I mean, everybody has to sit down and be able to decide what is acceptable for them. You know, a lot of times people will want to max fund the 401k that they're doing at least just to the amount that's matched. But then after that, this could be a great place instead of putting a whole bunch more money into a 401k. Some people will elect to say, "I'm going to put the matching portion into my 401k, but then I'm going to take my cash flow from my real estate and money that I could have contributed to other alternatives and put it into this because I want the liquidity. I want to be able to leverage this money and pull it out without any restrictions. That as long as I can pull out 80 to 90 percent, I could go buy a car wash, or I could invest in a business, or I could, you know, do whatever I wanted to. I could loan it to my kids for their college and make them pay me loans back to my policy. There gives you a lot of flexibility to do it. But the thing that we love about it is we'll do what's called an illustration, and it may end up if you start at the right time, it could be a six-figure passive income stream at retirement, and then if you have the real estate, because this helped you grow your portfolio, where without doing the strategy, you might have ended up with say 10 properties. We might be able to get you to 20 or 30 properties working together as a team with your real estate coaches and stuff like that. Then we can potentially grow your real estate portfolio, and what we want to do is 1031 exchange every seven to eight years. I don't believe in holding properties for 30 years.   Jared Garfield  36:47   I believe in exchanging them every seven to eight years because when the tax benefits have been used up, if you exchange to twice the size portfolio, you have better appreciation on a portfolio worth twice as much. But that new value, you still get the depreciation advantages, where the old value that was half, you know, the depreciation is used up. So you're you're getting new depreciation on the higher value assets, and then our goal would be that by the time you don't want to be involved in managing the property managers, that at some point you're going to have a 200 unit apartment complex with on-site management, and at that point you don't have any financial worries really because you're 1031 exchanging into those apartment complexes, but you have so much equity that you're still maintaining depreciation during your retirement years. When most people who have lesser plans don't have the tax advantages,   Keith Weinhold  37:41   I love that you said so much of that, and to you, the listener, Jared is licensed to do this, and our own in-house investment coach. You mentioned coaching. Naresh has the proper licensing as well to holistically help integrate this into your investor life. And for example, yes, we are rarely of the mindset that you would hold a property for all 30 years because after seven to 10 years, your leverage ratio gets worn down, and then additionally, if you're buying turnkey properties, oftentimes that's when capex expenditures start to enter into the picture. So yes, oftentimes we do these seven to 10 year holds.    Jared Garfield  38:23   I love that. Yeah, that's a really really good strategy, and and it always makes it to where you can grow so much bigger portfolio by not being taxed through that exchange. And you know, believe it or not, there's actually even ways when you have extra cash boot, they do allow if you notify them in advance. Sometimes you can take some of the cash boot on the exchange and roll it into some of the products that we utilize.   Keith Weinhold  38:47   For more specifics, I know you said it's based on one's individual situation, but how much does it cost to set up a policy? And then, are there any ongoing maintenance fees? Can you give us more specifics there?   Jared Garfield  38:59   So, there's small fees to administer the policy because you have people who are trading and doing different things and working within the policy for the funds. But usually, you can set policies up as low as 100 or even $200 a month. We don't usually recommend that because you want to max fund it. Usually, when you're doing these strategies, if you're just doing $100 or $200 a month, you're basically buying life insurance, but you're missing a lot of the benefits because what you want to do is to be able to max fund it. So what we like people to do is get as minimum life insurance. That's not in our advantage because we get paid based on the premium of the amount of life insurance you get. But you get the smallest amount of life insurance for the amount that you can max fund. I would much rather have somebody get a $500 a month policy that, let's say, they could put you know a thousanmd a month in or something like that, than to have somebody get $1,000 a month policy where they're paying a thousand a month but they can't max fund it because by max funding it you're maximizing the growth component of the cash. Value, and so it depends on how much you want. But you can go anywhere from $100 or $200 a month to we have clients that will dump $20,000 a month in because they really want to shield as much money as they can from tax growth.   Keith Weinhold  40:15   Tell us more about who the seven-figure solution is for and who it's not for.   Jared Garfield  40:20   Well, if you're living month to month and you don't have discretionary income, it's probably not a good solution. In that situation, you probably want to get term insurance and just make sure that you cover catastrophic things. But if you've got discretionary income and you've got an extra four to $500 a month that you could use to max fund, we figure most people need life insurance anyway, and the way that we teach it, when you mix it with real estate, rather than pulling it from your monthly budget, doesn't it make a lot more sense to let your tenants buy the houses for you, but also pay for a half a million or a million dollar life insurance policy for you, where the tenants are covering the savings for anything that happens at the property with capex or vacancy or damage, and at the same time covering life insurance and potentially a six-figure passive income that's tax advantaged at retirement. So I pull the money out from other assets and let the assets cover this asset.   Keith Weinhold  41:18   Oh well, Jared, this has been great. Before I ask you if you have any last things to tell the audience about the seven-figure solution, I invite you, the audience, to join us. It's going to be Jared and our own in-house investment coach, Nareesh, bringing you a live online event that you can join from the comfort of your own home next Thursday, the 27th at 8 PM Eastern. You can register now; it's free at grewebinars.com because there are a lot of moving parts, and it does take some time to wrap your head around this, benefiting from the cash value of an insurance policy. And this way you can have a Q and A, and you can get answers in real time at this event. It's called the Seven Figure Solution: Build wealth, reduce risk, and create tax advantage retirement income through real estate. Again, it is next Thursday, the 27th at 8p.m. Eastern, you probably have generated some questions inside your head while you're listening to this, and you can sure have them answered there as you're going to learn a whole lot more about it next Thursday. This could help a lot of people. Jared, do you have any last thoughts?    Jared Garfield  42:38   I think the only thing is that we like to work with the team. We like to work with your CPA. We like to work with your real estate investment coach. I used to be a coach and trainer for Robert Kiyosaki, who wrote Rich Dad Poor Dad, and he always talked about power teams. And so we want to be able to be a part of your power team and work with your other advisors to help you implement something. We're not here to give you tax advice. We want you to be able to work with your investment advisors and your CPAs, and just be a part of the team. But I would point out that over my career, I've owned hundreds and hundreds of single-family cash flow rentals, duplexes, fourplexes, apartment complexes. I've done some land development, and I implement these strategies myself. I had 17 Airbnbs, and so these are the strategies that I implemented as a full-time real estate professional. I felt like that this strategy of having a seven-figure solution could help you to avoid some of the pitfalls that I experienced in my 20s.   Keith Weinhold  43:32   So much all comes together for one pretty comprehensive solution. It's the intersection of growing your portfolio, getting tax advantages and having the death benefits of insurance and more all coming together next Thursday, so that you can learn more. Jared, it's been great having you back on the show.   Jared Garfield  43:52   Thanks, Keith. Always glad to join you.   Keith Weinhold  44:00   Integrate the seven-figure solution the GRE way, where we have this conscientiousness about leverage and cash flow. In this case, it's how to prudently leverage a life insurance policy. When it's time to tap your cash value, you take what is a policy loan, not a withdrawal, because you're borrowing against your cash value, hence using the funds in more than one place, and the IRS does not tax loan proceeds. This reminds me of a billionaire and how they borrow against the value of their stock. That way, they don't have to sell their assets. This is similar to what you can do with this. Another thing is that you know real estate investors are not used to a volatile ride because our asset values stay stable. You heard Jared mention the acronym IUL there. That's an indexed universal life policy. It's a real benefit. That says you tie yours to the S and P five hundred. Well, that index was down 18% in 2022, and that your cash value can have an upside ceiling and loss protection on the downside-an option that you'll care more about as you get toward retirement. In 2008, the S&P was down 37% so the math is cruel on value losses. In fact, it's even worse than it sounds because if you're down 30%, then you need a 43% gain just to get back to even. That is just math.   Keith Weinhold  45:39   There are some mistakes to avoid here, and you don't just want to set up your seven-figure solution off of a website. And it is based on products that you might have heard of from companies like Nationwide and Mass Mutual. I strongly encourage you learn more, see how it all goes together, learn how the seven-figure solution compares to other vehicles like a Roth IRA, 401k, 721 exchange, and 1031 exchange. This is very much about seeing your future. You've been listening to me here every week for almost 12 years, earning money from your day job, building your real estate portfolio, either from our investment coaching or on your own. This is how it all goes together. Next week with Jared and GRE investment coach Naresh. By attending live, you can have your questions answered in real time. One last time, you can sign up for the event for next Thursday, the 27th at 8 PM. Eastern, 5 PM. Pacific. Learn about something that's potentially really valuable to you: the seven-figure solution at grewebinars.com. Until next week, I'm your host Keith Weinhold. Don't quit your daydream.   Speaker 2  46:59   Nothing on this show should be considered specific, personal, or professional advice. Please consult an appropriate tax, legal, real estate, financial, or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of Get Rich Education LLC exclusively.   Keith Weinhold  47:26   The preceding program was brought to you by your home for wealth building, getricheducation.com  

What does investing like Warren Buffett look like now that the Oracle of Omaha has retired? Michelle Martin follows the money at Berkshire Hathaway as the Greg Abel era takes shape, with fresh bets on US housing and a bigger position in Alphabet. What might Berkshire be seeing in a difficult housing market, and is its growing appetite for tech really such a departure from the Buffett playbook? In China, Goldman Sachs is looking beyond the usual AI names to companies supplying the hardware behind the boom. Could printed circuit boards, data centres and robotics components offer another way into the AI trade - and how much should investors factor in geopolitics? On Wall Street, Home Depot, Target, Lowe’s and Walmart put the American consumer under the microscope, while minutes from the Federal Reserve’s divided July meeting could offer clues on where rates go next. Plus, Michelle goes Up or Down on Stripe’s US$7 billion OpenRouter deal, WuXi AppTec after its huge rally and Alibaba as Qwen passes three billion downloads. And why are Chinese consumers more optimistic about AI than Americans? Where might Singapore sit? Finally, Spider-Man crosses US$2 billion as Hollywood rediscovers the power of the big-screen blockbuster. Hosted by Michelle Martin.See omnystudio.com/listener for privacy information.

Sam Rosenberg has spent his career protecting some of the most recognized people on the planet, heads of state, CEOs, and celebrities including Warren Buffett, Benjamin Netanyahu, and Tom Cruise. A former Marine Corps officer who moved into close protection in 1996, he's since shifted his focus to teaching ordinary people the same skills he used to guard public figures, through his company Live Ready and his bestselling book of the same name. He's trained tens of thousands of people to recognize threats before they become emergencies. This one is a genuine masterclass in personal safety, and Sam's philosophy anchors it: it's good to have a lifeguard, but you should know how to swim. He and Larry get into why violence is never actually random, how to read a parking lot, the acronym TIME that maps how attackers operate, the normalcy bias that keeps good people from trusting their gut, and persuasion predators, the charming, manipulative threats every dad with a daughter needs to understand. If you want to protect the people who matter most without living in fear, this episode delivers the tools.   Timeline Summary [1:02] – Protecting Netanyahu, the chess match, and embedding covert protection in a crowd [4:35] – Tom Cruise in Pittsburgh and why he was one of the best to work with [6:23] – How you even land a gig protecting someone at that level [8:12] – Protecting Terry Bradshaw at the NFL draft, and why it's all word of mouth [12:36] – The core philosophy: it's good to have a lifeguard, but you should know how to swim [14:51] – Sam's full bio, the Marine Corps, Live Ready, and the book [16:34] – Situational awareness starts with our wives in parking lots [20:04] – The myth of helplessness and the myth of randomness [21:44] – Why violence is a process as predictable as boiling water [22:38] – Attacks happen on arrival and departure, and every environment has a purpose [24:10] – Watching for the watchers, and the New York City looking up analogy [26:30] – The creepy guy vibe and why we hunt for evidence to dismiss it [27:42] – Social contracting, bias, and how it blinds us to real danger [30:13] – Normalcy bias: the brain's desire for everything to be normal [32:04] – Breaking down a real, sophisticated parking lot kidnapping on video [35:36] – The simple bow: trust your intuition even without all the evidence [37:12] – What that woman could have noticed, and the double-tap unlock habit [43:14] – The TIME acronym: target selection, intelligence, method of attack, escape [46:16] – Why street criminals run the same process as terrorists [49:17] – Can you avoid being targeted? You can influence it, not always prevent it [52:04] – Charlie Kirk, Butler, and why it has to be stopped in advance [53:27] – Recognizing the interview means you've already been selected [56:16] – Hard target versus soft target, and why gimmicks don't work [57:29] – The undercover story: why street-smart observers saw through his disguise [1:02:47] – Willingness and ability are all it takes to be a hard target [1:04:31] – What bad guys are truly afraid of: failure [1:08:55] – Persuasion predators, masters of charm and disguise [1:10:31] – Reframing charm: ask why is this person trying to charm me [1:11:56] – No is a complete sentence, and the veils of denial [1:13:54] – Sociopaths, the pity play, and the puppy law used on children   5 Key Takeaways Violence Is a Process, Not Random — Attacks follow an observable, predictable sequence. Learning to spot the pattern, especially during arrival and departure moments, is what lets you get ahead of danger instead of reacting to it. Watch for the Watchers — Every environment has a purpose. Scan left to right for anomalies, people not using the space for its intended purpose, and notice who's watching who's coming and going. That awareness alone makes you a harder target. Trust Your Radar Over Normalcy Bias — Good people talk themselves out of intuitive warnings because they can't find hard evidence or don't want to seem judgmental. When something feels off, that unease is data. Default to it and remove yourself from the situation. Recognize the Interview — When a stranger approaches you in an anomalous moment, that's an interview, and it means you've already been selected as a target. How you manage that interaction, with the right body language and enough force, often determines whether an attack proceeds. Reframe Charm and Hold the Line on No — Teach daughters to ask why is this person trying to charm me rather than being flattered. No is a complete sentence, and anyone who pushes past it is signaling they care only about what they want. A pity play after being caught in lies is a massive red flag.   Links & Resources Episode page and all links: https://thedadedge.com/1517 Sam Rosenberg's company, LiveReady: https://www.liveready.co/ Live Ready by Sam Rosenberg (the book): https://www.liveready.co/book LiveReady on YouTube (situational awareness and attack breakdowns): https://www.youtube.com/@LiveReadyCo LiveReady on Instagram: https://www.instagram.com/livereadyco LiveReady on Facebook: https://www.facebook.com/LiveReadyCo LiveReady on LinkedIn: https://www.linkedin.com/in/LiveReadyCo/ LiveReady personal training: https://www.liveready.co/training Dad Edge Day with the Arizona Cardinals (November 15, Cardinals vs Rams, State Farm Stadium): https://thedadedge.com/nfl Roommates to soulmates thedadedge.com/soulmates   Enjoyed This Episode? If Sam's breakdown of that parking lot attack made you look at your own routine differently, put one habit to work this week. Get your head up and off your phone during those arrival and departure moments, and have the charm and no conversation with your daughter. If the show keeps delivering, follow, rate, and leave a review so more fathers can find these conversations.

A Wyoming coal town facing an uncertain future has become the testing ground for a novel nuclear power plant backed by Bill Gates and Warren Buffett. Supporters view the high-tech project as an essential economic lifeline, while critics have voiced deep concerns over safety and nuclear waste storage. USA TODAY National Correspondent Trevor Hughes visited Kemmerer, Wyoming, to explore whether this high-stakes project could redefine the future of American energy.Let us know what you think of this episode by sending an email to podcasts@usatoday.com. Episode transcript available here. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

I'm reposting today an interview that Matt Zeigler kindly conducted with me recently. It just so happens that today is my birthday, which makes it feel like the right moment to share this deeply personal conversation about a chapter in my life and career when uncertainty was at its peak and the road ahead felt anything but clear.In this impromptu conversation, recorded one summer morning, I reflect on what happened during that time, what I learned from it, and how those experiences continue to shape me today. Along the way, you'll hear stories and moments I've never shared publicly before.I also encourage you to read the thoughtful profile Matt wrote about me on his wonderful Cultish Creative blog, linked here. While you're there, take some time to explore—and follow—his beautifully written, thoughtfully curated work. I'm grateful for the care and generosity he brings to every conversation and every story he tells.Bogumil Baranowski joins Matt Zeigler to explore why failure is feedback and how persistence can turn rejection, uncertainty, and personal obstacles into life-changing opportunities. Bogumil shares his journey from Poland to a career in New York investing, the green card rejection that nearly ended it, and the unlikely path that eventually led him to ask Warren Buffett and Charlie Munger a question at the Berkshire Hathaway annual meeting.Topics covered:Why failure should be treated as feedback rather than defeatWhat Joseph Moore's struggle to publish How to Get Rich in American History teaches about resilienceHow personal conviction helps people continue when success appears statistically unlikelyWhy creating a podcast can preserve valuable conversations and connect overlooked ideasHow podcast hosts cross-pollinate insights between investors, authors, and thinkersBogumil's decision to leave Europe and build an investing career in New York CityThe visa challenges and green card rejection that almost forced him to leave AmericaHow hope and persistence helped him restart the immigration processThe unlikely story of asking Warren Buffett and Charlie Munger a question at Berkshire HathawayWhy obstacles can help people develop strengths that others do not possessHow an outsider's perspective can create an advantage in investing and creative workWhy people should embrace the experiences that make them differentTimestamps:00:00 Why some goals become things you have to do03:00 Joseph Moore and the history of getting rich06:04 Why location matters when building and preserving wealth08:20 Failure is feedback09:30 Why important ideas often face rejection13:03 Turning private conversations into a public podcast16:40 Learning through other people's experiences18:08 Cross-pollinating ideas between great investors20:24 Bogumil's decision to pursue investing in New York21:42 Visa problems and a rejected green card application24:00 Starting the immigration process again26:14 Why persistence matters more than the size of the goal27:46 Asking Warren Buffett and Charlie Munger a question31:42 Why failing is part of trying33:53 The unexpected connection to The King's Speech35:29 Turning perceived weaknesses into strengths37:29 Where to find Bogumil's writing and podcastsPodcast Program – Disclosure StatementBlue Infinitas Capital, LLC is a registered investment adviser and the opinions expressed by the Firm's employees and podcast guests on this show are their own and do not reflect the opinions of Blue Infinitas Capital, LLC. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice.Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed.

Pressure is inevitable. But whether it contracts you or expands you — that's a choice. Dr. Emma Zia has spent nine years helping founders, executives, and high performers figure out which voice they're listening to, and how to change it. Emma is a high performance expert, author of Power Under Pressure, and holds a Doctorate in Metaphysical Science. She works with leaders at critical inflection points — when the stakes are highest and the old patterns are loudest. In this episode, she joins Scott Love to unpack the Contractor vs. Expander framework, the six hidden unconscious patterns that quietly cap success, and the practical tools to break through each one. Scott calls this one of the most personally meaningful conversations on the Rainmaking Podcast — one he read aloud to his wife and daughter. It's a little different. And it might be exactly what you need. You'll learn: What the Contractor and Expander voices are — and how to tell which one is running your decisions Why you cannot outperform your inner world (and what that means for your business results) The 6 hidden patterns that keep high performers stuck: Imposter, Overdrive, Chaos, Fortress, Freeze, and Control The Dimmer vs. Inflator — two faces of the Imposter pattern and how to spot them in yourself Why Warren Buffett's success is an argument against the Overdrive pattern The PlayStation level analogy: why you can't skip to the next level without breaking through the current one first Why fighting reality only intensifies suffering — and what acceptance actually looks like for a high achiever How one client went from zero sales for six months to $60K collected in four weeks after a single session The visceral body exercise that tells you in real time whether you're in contraction or expansion 3 action steps to start accessing your power under pressure today Visit: https://therainmakingpodcast.com YouTube: https://youtu.be/pdS6k1sUZRk ---------------------------------------- If you are a successful law firm partner or law firm founder and want to hear about other options, please book a time on Scott Love's calendar here: https://calendly.com/scott-736/half-hour-phone-meeting-with-scott Or email Scott to connect with him at: scott@attorneysearchgroup.com ----------------------------------------

Fidelity is one of the most powerful financial institutions in America, but the story of the family behind it has largely remained hidden. Justin Baer joins me to reveal how the Johnson dynasty built a $13 trillion empire, and how Abigail Johnson had the courage to reinvent it before the old business model became a relic. Justin Baer is an award-winning journalist and an editor for The Wall Street Journal. In a career that includes stints at the Financial Times and Bloomberg News, he has covered almost every significant financial event over the past two decades, including the dot-com bubble, the 2008 financial crisis and the economic fallout from the pandemic. Along the way, Baer has chronicled the ups and downs of such major institutions as Goldman Sachs, J.P. Morgan Chase, Citigroup and Warren Buffett's Berkshire Hathaway. Get a copy of his brilliant new book, House of Fidelity: The Rise of the Johnson Dynasty and the Company That Changed American Investing Anthony Scaramucci is the founder and managing partner of SkyBridge, a global alternative investment firm, and founder and chairman of SALT, a global thought leadership forum and venture studio. Pre-order my next book, All the Wrong Moves: How Three Catastrophic Decisions Led to the Rise of Trump, out on the 17th of September in the UK and the 22nd of September in the US: ⁠https://www.scaramucci.net/allthewrongmoves Learn more about your ad choices. Visit podcastchoices.com/adchoices

What if your service drive became one of your dealership's most powerful—and consistent—vehicle sales channels? In this episode of Service Drive Revolution, Chris Collins, Hogi, and Adam reveal how dealerships can turn everyday service appointments into organic sales and trade-in opportunities without making customers feel pressured. The key isn't occasionally sending a salesperson into the drive—it's building a dedicated system where sales and service operate as one team. You'll discover how to: • Embed dedicated salespeople inside the service department • Use equity mining to identify the right opportunities • Incentivize advisors to facilitate strong customer handoffs • Introduce trade-in conversations before the appointment • Acquire valuable used inventory without relying on auctions • Use maintenance programs to create familiarity, trust, and retention • Build toward the future "portfolio manager" model—one person managing the customer's entire ownership journey The team also breaks down leadership lessons from Hard Knocks, explains why attention reveals a leader's true priorities, and explores how great systems make exceptional performance repeatable. If your dealership has "tried selling from the service drive" before and it didn't work, this episode will show you what was probably missing. #ServiceDriveRevolution #FixedOps #AutomotiveLeadership #AutomotiveSales #ServiceDrive #DealershipTraining 

Most people think becoming wealthy is about earning more money. It's not. It's about thinking differently.In this episode, I break down three mindset shifts I've noticed that separate people who build lasting wealth from those who simply look successful:

A.M. Edition for Aug. 10. Iran dials up its demands in talks to reopen the Strait of Hormuz. Plus, Meta embraces open-weight AI models in a bid to blunt the appeal of cheaper Chinese competition. And WSJ finance editor Alex Frangos breaks down how a payment network backed by the Russian government reveals the limits of Western efforts to economically isolate Moscow. Luke Vargas hosts. Sign up for the WSJ's free What's News newsletter. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Market update for Monday August 10, 2026Check out the Public app for incredible investing tools and to support the show (LINK)Follow us on Instagram (@TheRundownDaily) for bonus content and instant reactions.In today's episode, Zaid covers:Berkshire Hathaway's earnings and how Greg Abel is starting to put Warren Buffett's massive cash pile to workMeta's new open-weight AI models and Mark Zuckerberg's 6,500-word AI manifestoHPE's analyst upgrade and Intel's $15 billion stock offeringWhy more than half of Americans now have passports, and why American tourists are flooding Europe

Het grootste winstmomentum in jaren, zo wordt het al genoemd. Er komen weer beleggers naar Europa toe. Die zien hier een gemiddelde winststijging van 22 procent, lage brandstofprijzen én immuniteit voor volatiele tech-aandelen en weten niet hoe snel ze in moeten stappen. Maar hoe houdbaar is dat winstmomentum? En ben je te laat als je nu nog mee wilt doen met het feest? Dat hoor je in deze aflevering. Verder hebben we het over een kantelpunt bij Berkshire Hathaway. Het investeringsvehikel van Warren Buffett geeft z'n geld weer uit. Zowel aan eigen aandelen als die van anderen. Eindelijke slinkt de cashberg weer. Betekent het dat jij zelf ook weer aan de bak moet? We vertellen je ook nog over mogelijk een van de laatste keren dat we van Ebusco horen. De elektrische bussenbouwer waarschuwde al dat het na dit jaar einde verhaal zou zijn als er geen nieuwe orders binnenkomen, maar wat als bestaande orders afhaken? We praten je bij over het nieuwste gok-doelwit in Zuid-Korea. En we leren je een nieuwe term: Moneymaxxing. Te gast: Justin Blekemolen, van Lynx Beleggen BNR Beurs is een journalistiek onafhankelijke productie, mede mogelijk gemaakt door Saxo. Over de makers: Jelle Maasbach is presentator van BNR Beurs en freelance financieel journalist. Zijn favoriete aandeel om over te praten is Disney, maar daar lijkt hij de enige in te zijn. Sinds de eerste uitzending van BNR Beurs is 'ie er bij. Maxim van Mil is presentator van BNR Beurs en journalist bij BNR, waar hij zich focust op de financiële markten en ontwikkelingen in de tech-wereld. Je krijgt hem het meest enthousiast als hij kan praten over ASML, of oer-Hollandse bedrijven zoals Ahold of ABN Amro. Jorik Simonides is presentator van BNR Beurs, economieredacteur en verslaggever bij BNR. Hij wordt er vooral blij van als het een keer níet over AI gaat. Je hoort hem ook in de BNR-podcast Moerdijk: dorp van de rekening. Milou Brand is presentator van BNR Beurs, freelance podcastmaker en columnist bij het Financieele Dagblad. Jochem Visser is presentator van BNR Beurs, maakt Beursnerd XL en is redacteur bij de podcast Onder Curatoren. Vraag hem naar obscure zaken op financiële markten en hij vertelt je waarom het eigenlijk nóg leuker is dan je al dacht. Over de podcast: Met BNR Beurs ga je altijd voorbereid de nieuwe beursdag in. We praten je in een kleine 25 minuten bij over alle laatste ontwikkelingen op de handelsvloer. We blijven niet alleen bij de AEX of Wall Street, maar vertellen je ook waar nog meer kansen liggen. En we houden het niet bij de cijfers, maar zoeken ook iedere dag voor je naar duiding van scherpe gasten en experts. Of je nu een ervaren belegger bent of net begint met je eerste stappen op de beurs, de podcast biedt waardevolle inzichten voor je beleggingsstrategie. Door de focus op zowel de korte termijn als de lange termijn, helpt BNR Beurs luisteraars om de ruis van de markt te scheiden van de essentie.See omnystudio.com/listener for privacy information.

Neue Bedingungen für Öffnung der Straße von Hormus: Welche Szenarien gibt es für ein Ende im Irankrieg? Außerdem: Berkshire Hathaway hat zum zweiten Mal unter dem neuen Chef Quartalszahlen vorgelegt.

Here's an uncomfortable truth: most people will tell a total stranger about their weird rash before they'll tell their best friend how much debt they're carrying. That contradiction sits at the center of this episode. The guest is Carrie Joy Grimes, founder and CEO of WorkMoney — a nonprofit she describes as "the AARP for everyday people's money." She built it in 2020 after years as a union organizer, watching thousands of people wrestle with the same financial confusion she'd faced growing up in a household where money was never discussed. The conversation opens with a poker metaphor that ends up doing a lot of work: you play the hand you're dealt, but you can also change the rules of the game. That's WorkMoney's whole thesis — help individuals make the best move with what they have, while using collective bargaining power to get everyone better cards. From there, the discussion turns commercial. A nonprofit still has to think like a business, and Grimes walks through WorkMoney's five distinct revenue models — sales of her book "The Joy of Money", ethical sponsorships, a bill-negotiation product called Money Finder, and a for-profit enterprise arm designed to fund financial products that don't quietly profit off member debt. The host presses on the hardest part: how do you measure success when your mission is "financial security" and revenue isn't the real scoreboard? Grimes lays out three separate metrics her team tracks, including one that's surprisingly emotional. There's also a sharp aside on index investing — including a detail about Warren Buffett's will that reframes the whole "beat the market" industry — and a candid discussion of why WorkMoney deliberately avoids a pure B2C growth strategy. If you've ever wondered how a mission-driven business justifies its business model without losing its mission, this one's worth the full listen. Three Key Takeaways • A nonprofit still needs a real business model. Grimes runs five distinct revenue lines at WorkMoney — including book sales, ethical sponsorships, and a fee-based bill-negotiation service — because donations alone can't fund a movement at scale. • B2B2C beats B2C for mission-driven growth. Rather than acquiring millions of individual customers one at a time, WorkMoney partners with organizations that have already aggregated the audience it wants to serve — dramatically lowering acquisition cost and risk. • Success metrics get complicated when revenue isn't the goal. WorkMoney measures impact through self-reported financial confidence, actual debt/wealth changes, and retirement trajectory — because, as Grimes puts it, if members don't feel more secure, the work isn't landing. If today's conversation had you thinking about what it actually takes to turn a big idea into a sustainable business, you'll want to check out The Thought Leadership Handbook, co-authored by Peter Winick, Bill Sherman, and Naren Aryal. It's the playbook for shaping, packaging, and scaling expertise in a crowded market — exactly the kind of business-model thinking Carrie Joy Grimes brought to this episode. Learn more at thoughtleadershiphandbook.com, and order your copy today on Amazon, Barnes & Noble, Bookshop.org, or Amplify.

What's up, guys? Today I'm diving deep with one of the most legendary minds in finance—Warren Buffett's impact on modern investing and what his latest moves say about where the economy is headed. We're breaking down why the Oracle of Omaha is dumping stocks, stacking up record cash, and signaling alarm bells that every investor needs to hear. If you've ever wanted to understand how economic forces shape your portfolio, what metrics like the CAPE ratio and the Buffett Indicator actually mean, and how to avoid being blindsided when the next crash hits—this episode is absolutely vital.You're going to walk away with a practical understanding of the same strategies the world's sharpest investors use to navigate market bubbles, protect themselves from massive downturns, and thrive even when things look bleak. This is about shutting out the hype and seeing the real signals—so you can make the smartest moves for your future. If this episode hits you, drop us a review and help us keep bringing you the truth that moves you forward.I'm Tom Bilyeu, and welcome to Impact Theory.Special Thanks to the Infographics Show. Check out their page: https://youtu.be/BnSTr7_NwtU?si=8RBu2wgZ-D-7fdb3Sign up for my AI Masterclass: https://tombilyeu.com/ai-masterclass?utm_campaign=TBS-Livestream&utm_source=youtube&utm_medium=social Check us out wherever you get your podcasts:Spotify:https://open.spotify.com/show/1nARKz2vTIOb7gC9dusE4b?si=a8daffd2bf1f48fdApple: https://podcasts.apple.com/us/podcast/tom-bilyeus-impact-theory/id1191775648Do you need my help STARTING a business? Join me here inside ZERO TO FOUNDER: (https://tombilyeu.com/zero-to-founder)Get the exact systems, mindset shifts, and principles that built a $1B brand delivered straight to your inbox every week. Subscribe for free (https://tombilyeu.com)Check out our Video game - Project Kyzen: (https://projectkyzen.io/)Catch Me Streaming on Twitch - (https://twitch.tv/tombilyeu)Link to IT discord: https://discord.gg/TZKJ2etPbTTom's Favorite Things List: https://amzn.to/41Ftt7eFor Business inquiries: connect@impacttheory.comFOLLOW TOM:Instagram: https://www.instagram.com/tombilyeu/Twitter: https://twitter.com/tombilyeuYouTube: https://www.youtube.com/@TomBilyeuQuince: Free shipping and 365-day returns at https://quince.com/impactpodWhatnot: Download the Whatnot app today and get free shipping on your first order.Monarch Money: Start your free trial and get 50% off your first year of total money clarity at https://monarchmoney.yt.link/QxOLEVx or code TB50 for 50% Off Monarch Core tier.ATT Business: Switch to AT&T Business at business.att.comKetone IQ: Visit https://ketone.com/IMPACT for 30% OFF your subscription orderNetsuite: For the first time ever you can try NetSuite Next for free. If your revenues are at least in the seven figures, go to https://NetSuite.ai/Theory.Surfshark: Go to https://surfshark.com/TOMB or use code TOMB at checkout to get 4 extra months of Surfshark!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

International Beer Day seemed like a perfectly normal way to start the show... until it absolutely wasn't.This daily comedy podcast begins with Moon breaking down some of the biggest beer myths you've probably believed your entire life. Does beer really cause a beer belly? Are dark beers actually stronger? Is draft beer secretly responsible for your hangover? The gang debates science versus "trust me, bro" logic before somehow ending up discussing functional beers loaded with vitamins, probiotics, adaptogens, and enough wellness buzzwords to confuse your local brewery.Then things get appropriately weird.Rafe returns with another legendary In Memoriam segment featuring everything the show managed to completely derail throughout the week. We revisit the listener email that somehow sparked the now-infamous horny pilgrim ghost conversation, proving once again that The Rizzuto Show audience has a very specific line between "too weird" and "perfectly acceptable."The crew also pays tribute to thousands of dollars worth of stolen Little Debbie snack cakes, because apparently organized crime has moved on from cash and drugs to Cosmic Brownies and Oatmeal Creme Pies.You'll also hear discussions about bizarre new baby names like Chaos, Rooster and Gatorade, King Scott embracing both silk bonnets and fixing appliances, Jimmy Buffett versus Warren Buffett confusion, Taco Bell settlement drama, dangerous Q-tip habits that may or may not unlock another dimension, and Moon's passionate defense of Guinness Zero.As always, Rafe wraps things up with his hilarious rapid-fire memorials before ending on heartfelt tributes to several notable figures who passed away this week, balancing absurd comedy with genuine respect in a way only this crew can.If you enjoy sarcastic humor, weird news, celebrity conversations, ridiculous debates, and friends roasting each other for nearly two and a half hours, this daily comedy podcast delivers exactly the kind of beautifully unhinged chaos you've come to expect.Whether you're here for the beer myths, the ghost dreams, the snack cake crimes, or just to hear grown adults argue over proper Q-tip usage, thanks for hanging out with us.If you laughed, cringed, or questioned humanity even once during this episode, mission accomplished.This daily comedy podcast is proudly made in St. Louis by people who really should know better... but thankfully don't.Follow The Rizzuto Show → https://linktr.ee/rizzshow for more from your favorite daily comedy show.Connect with The Rizzuto Show Comedy Podcast online → https://1057thepoint.com/RizzShow.Hear The Rizz Show daily on the radio at 105.7 The Point | Hubbard Radio in St. Louis, MO.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Lern prepares for a family getaway to Table Rock Lake that quickly turns into a debate over golf carts, caves, spas, and whether anyone actually wants to leave the house. The gang dives into the strange pressure of family vacations, why everyone wakes up before sunrise, and whether it's okay to disappear for a solo adventure just to save your sanity.Meanwhile, Rafe makes an emotional confession about falling back in love with cheese after attempting a dairy-free experiment, leading to one of the funniest conversations about comfort food you'll hear all week. The crew also argues over the greatest fast-food burgers in America, gives Dairy Queen's food menu the respect it deserves, and somehow ends up discussing Sonic-related trauma that's apparently lasted decades.Moon continues his streak of bringing the internet's strangest lists, including the world's best food cities, the worst drivers in America, the most romantic cities, and a collection of Victorian slang words that quickly derail into pure nonsense. Somehow "Cupid's kettle drums" becomes a legitimate on-air discussion.There's plenty of classic Rizz Show chemistry throughout as the crew bounces from travel stories to family drama, awkward Airbnb experiences, summer spending habits, childhood freedom, and everything in between. It's exactly the kind of organized chaos listeners expect from a daily comedy show that never stays on one topic for very long.Guns N' Roses recording new music, Green Day launching a 24/7 YouTube channel, Perez Hilton's heartbreaking situation, a Nicolas Cage John to play King Scott in a new movie, Robert Pattinson becoming Chris Hansen, and perhaps the strangest movie trailer any of us have ever seen... Wicker.Meanwhile, Slash says Guns N' Roses are finally writing new music again, and for longtime fans that's almost as unbelievable as hearing Axl and Slash are actually getting along. The gang dives into what that reunion means, why Chinese Democracy still feels like it took several presidential administrations to arrive, and whether this album might finally become reality.Music nerds also get excited over Green Day launching a nonstop streaming channel full of concerts, music videos, and rare footage, sparking an entire conversation about why every legendary band should basically become their own MTV.On the celebrity side of the world, things take a much more serious turn as the crew discusses Perez Hilton's recent hospitalization and how public perception changes when someone who built a career covering celebrity meltdowns experiences one of his own. It's thoughtful, honest, and still unmistakably The Rizzuto Show.Movie fans get plenty to chew on with Super Troopers 3, Grown Ups 3, Madden starring Nicolas Cage, Jurassic production drama, and one of the creepiest trailers of the year featuring Robert Pattinson transforming into Chris Hansen. Somehow that's still only the second weirdest trailer discussed.Then, because no Friday is complete without an argument nobody asked for, the crew debates the greatest Disney animated films ever made. Beauty and the Beast? Lion King? Toy Story? Aladdin getting snubbed? Feel free to yell at your speakers along with everyone else.Moon breaks down some of the biggest beer myths you've probably believed your entire life. Does beer really cause a beer belly? Are dark beers actually stronger? Is draft beer secretly responsible for your hangover? The gang debates science versus "trust me, bro" logic before somehow ending up discussing functional beers loaded with vitamins, probiotics, adaptogens, and enough wellness buzzwords to confuse your local brewery.Rafe returns with another legendary In Memoriam segment featuring everything the show managed to completely derail throughout the week. We revisit the listener email that somehow sparked the now-infamous horny pilgrim ghost conversation, proving once again that The Rizzuto Show audience has a very specific line between "too weird" and "perfectly acceptable."The crew also pays tribute to thousands of dollars worth of stolen Little Debbie snack cakes, because apparently organized crime has moved on from cash and drugs to Cosmic Brownies and Oatmeal Creme Pies.You'll also hear discussions about bizarre new baby names like Chaos, Rooster and Gatorade, King Scott embracing both silk bonnets and fixing appliances, Jimmy Buffett versus Warren Buffett confusion, Taco Bell settlement drama, dangerous Q-tip habits that may or may not unlock another dimension, and Moon's passionate defense of Guinness Zero.As always, Rafe wraps things up with his hilarious rapid-fire memorials before ending on heartfelt tributes to several notable figures who passed away this week, balancing absurd comedy with genuine respect in a way only this crew can.Follow The Rizzuto Show → https://linktr.ee/rizzshow for more from your favorite daily comedy show.Connect with The Rizzuto Show Comedy Podcast online → https://1057thepoint.com/RizzShow.Hear The Rizz Show daily on the radio at 105.7 The Point | Hubbard Radio in St. Louis, MO.How much are Americans spending every weekend on summer activities?Habit Burger's Double Char crowned America's best burgerWorst Drivers in America (2026 Data)NYC ranked most romantic US city despite shaky reputation for singles - whiles a surprising Deep South city cracks the top 5Green Day launch 24/7 YouTube stream 'GDTV' featuring unseen archival footage, full gigs, backstage action, studio sessions and moreHow to Ignite an Internet Frenzy? Give Alexander Skarsgard a Wicker PenisI-44 closed near Valley Park due to watermain breakSt. Charles County sees mass death of invasive carpSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Robert Hagstrom joins Matt Zeigler and Bogumil Baranowski to revisit the 25th anniversary edition of The Warren Buffett Portfolio and explain why volatility is not the same as investment risk.They discuss concentrated portfolios, active share, business valuation, behavioral finance, complex adaptive systems, and Warren Buffett's warning that the market's casino can overwhelm its cathedral.Matt Zeigler and I had the privilege of hosting Robert Hagstrom for a special 100-Year Thinkers Edition of the Excess Returns Podcast.Available now on Excess Returns Podcast and Talking Billions.

Value investing spent fifteen years out of fashion. This year, it's beating the index almost everywhere you look — energy up roughly 20%, industrials 17%, healthcare 15%, utilities 14%, financials 12% — while the S&P 500 sits near 8–9%. This week we dig into the return of value investing and what the greatest investors of all time can teach us right now. On this week's Money On Tap, we go deep on the tradition that runs from Benjamin Graham through Warren Buffett and Charlie Munger: buying good businesses at sensible prices, collecting the dividends they pay you, and letting compounding do the heavy lifting. We explain why value went dark from roughly 2009 to 2025 — cheap money was rocket fuel for growth stocks — and why higher interest rates have flipped the script: growth borrows, value pays you. We connect the rotation to worn-out tech traders taking gains, the 401(k) flywheel, and the demographic engine underneath it all — roughly 10,000 baby boomers reaching retirement age every day, all needing present-day income. Plus Pepsi's 53-year dividend streak and a candid conversation about when mutual funds and ETFs stop making sense and direct stock ownership starts. What you'll learn:The sector scoreboard: energy ~20%, industrials ~17%, healthcare ~15%, utilities ~14%, financials ~12%, staples ~9% — vs. the S&P 500 near 8–9%Graham vs. Buffett: buy cheap and sell at fair value, or buy outstanding businesses and hold for decadesMunger's rule: "The big money is not in the buying or the selling, but in the waiting"Why low interest rates buried value for fifteen years — and why higher rates brought it backMargin of safety: the idea that protects you when you're wrongWhy money is rotating into companies that pay you to own them — dividends over promisesThe demographic engine: 10,000 boomers a day retiring and the demand for present-day incomeThe compounding story: Buffett's American Express dividends now exceed his entire original investment — every yearWhen funds stop making sense: the case for direct stock ownership at higher net worthPlus Money In The News:SpaceX says it's coming for AT&T, Verizon, and T-Mobile customers — but does satellite cell service actually work?The Treasury has refunded $100 billion in invalidated tariff revenue to companies — and none of it is coming back to youA tale of two housing markets: luxury demand surges while starter-home buyers finally see inventoryWant a white paper on this week's topic? Email us at info@yourmoneyontap.com and we'll send it over. Read our most recent Blog Post on this topic here: https://www.fmgwebsites.com/d772de05-9833-44e4-9676-f510f85cef74/blog/the-return-of-value-investing-why-boring-profitable-companies-are-winninSchedule a free consultation: https://app.greminders.com/t/9f3ce72e/initialconsultaBrowse the full Money On Tap library: https://www.brayshawfinancial.com/money-on-tap Contact UsPhone: 855-226-8551Email: info@yourmoneyontap.comOffice: 116 South River Road, Bedford, NH 03110Web: brayshawfinancial.comSecurities and advisory services offered through Osaic Wealth, Inc., member FINRA/SIPC. All other services offered through Brayshaw Financial Group, LLC are independent of Osaic Wealth, Inc. Osaic Wealth, Inc. and Brayshaw Financial Group do not provide tax or legal advice. Index and sector figures cited are approximate year-to-date values as of the air date, drawn from sources believed reliable, and subject to change. Dividend payments are not guaranteed and may be reduced or eliminated at any time. Past performance is not a guarantee of future results.What is value investing and why is it working again in 2026?Value investing means buying strong, profitable, often dividend-paying companies at sensible prices and holding them patiently — the approach built by Benjamin Graham and made famous by Warren Buffett and Charlie Munger. It struggled while near-zero interest rates favored growth stocks, but higher rates flipped the equation: in 2026, value sectors like energy (~20%), industrials (~17%), and healthcare (~15%) are outpacing the S&P 500's roughly 8–9%. The appeal is simple — instead of borrowing to chase growth, these companies pay shareholders real income today, and reinvested dividends compound over decades.

El concepto de "retiro a los 65" es una trampa que casi nadie cuestiona. En este extracto hablamos de por qué la verdadera libertad financiera no tiene una edad fija, y de lo que Warren Buffett y Charlie Munger nos enseñaron sobre nunca dejar de trabajar. Este es un fragmento del episodio completo.

This episode starts with stormy weather and surprisingly good moods before spiraling into one of those classic Rizz Show conversations where absolutely nothing stays on the rails. One minute everyone's discussing thunderstorms, Jason Sklar stopping by the show, and preparations for Rizz's upcoming birthday celebration. The next minute, an unexpected study claims that 47 is the happiest age of your life, immediately putting Rizz under the microscope as the crew debates whether he's actually become a happier human being over the years.That naturally leads to a full-on birthday debate. Are you someone who celebrates for an entire week with parties, brunches, vacations, and enough cake to feed a small town? Or are you the type who hopes nobody notices your birthday at all? The crew dives into the psychology behind birthday people versus birthday avoiders, sharing stories about how their own families handled birthdays growing up and how the show's attitude toward celebrating has completely changed over the years.Along the way, they confess the embarrassing things they learned way too late in life. From believing Elton John was blind because of his sunglasses to confusing Jimmy Buffett with Warren Buffett, nobody escapes the roast. Lauren admits her biggest regret is never paying attention in history class, while everyone else piles on with stories that somehow become even more ridiculous.Then it's time for one of the greatest grocery store discussions ever recorded. Boomers' biggest complaints about modern shopping somehow evolve into a business pitch involving off-road grocery carts, dune buggies with shopping baskets, lift kits for grabbing cereal off the top shelf, Bluetooth speakers, themed vehicles, and of course, an extensive update on the latest developments in Uncrustables technology. Yes... refrigerated Uncrustables become breaking news. Yes... everyone takes it completely seriously.The chaos keeps rolling with questionable life advice passed down from older generations, hilarious family sayings that somehow stuck forever, and a continuation of yesterday's impossible moral dilemma involving crimes, saving dogs, and making the world a better place in the weirdest ways imaginable.Later, the conversation turns surprisingly wholesome as the crew discusses new research into helping dogs live healthier, longer lives. Would you pay thousands of dollars for a few more healthy years with your best friend? Everyone has a different answer, and the discussion gets unexpectedly heartfelt before immediately swerving back into shark attacks, dangerous animals across America, and why Missouri's deadliest creature isn't nearly as exciting as you'd hope.As always, the conversation refuses to stay in one lane for more than a few minutes. That's exactly what makes this daily comedy show feel like you're hanging out with friends who accidentally turn every headline into an hour of laughs, random tangents, and conversations nobody saw coming.Whether you're here for birthday debates, grocery store adventures, ridiculous hypotheticals, weird news, celebrity mentions, or the latest in frozen sandwich innovation, Episode 49 delivers another unpredictable ride from The Rizzuto Show.Sometimes the show writes itself... and sometimes history, celebrity news, and complete nonsense all decide to show up at the exact same time.On today's episode of The Rizzuto Show, the crew kicks things off with "This Day in History," featuring everything from the first electric chair execution to the anniversary of the Enola Gay mission, classic Beatles releases, MTV nostalgia, Pineapple Express, Hamilton, and a whole lot more. It's somehow educational... if your history teacher had severe ADHD.The crew also takes a heartfelt moment to remember St. Louis jewelry legend John Reusch, whose impact stretched far beyond engagement rings. Rizz and Moon share personal stories about what made him such a special part of so many families' biggest moments, making this one of the most genuine conversations you'll hear on the show.Then it's back to the chaos.Lern brings a stacked edition of Crap on Celebrities featuring Weezer's newest single, the unexpected return of the New Radicals after decades away, Queens of the Stone Age inviting fans to literally call and complain, Deftones climbing the charts again thanks to Netflix, and a surprisingly honest conversation about Whoopi Goldberg's massive paycheck from The View.Things only get weirder from there.The crew dives into the upcoming O.J. Simpson documentary that explores the bizarre hidden-camera prank show that almost became something entirely different. They somehow spiral into discussing obscure cult movies like Gentlemen Broncos, reality TV addictions, BMW dashboards serving advertisements, Charlie Sheen's brand-new podcast, and whether anyone actually wants more access to the show via a complaint hotline.Naturally, the episode wraps the only way The Rizzuto Show knows how—with celebrity birthdays, one of the most ridiculous porno birthdays ever, and enough sarcasm to keep everyone employed another day.If you love ridiculous conversations that somehow mix heartfelt moments with celebrity nonsense, weird news, music, movies, and pop culture, you've found your people.This daily comedy show delivers everything from celebrity gossip to bizarre history lessons, random rabbit holes, and the kind of conversations that somehow make perfect sense before 10 a.m.Whether you're listening on the drive to work, pretending to work, or hiding from responsibilities altogether, thanks for hanging out with The Rizzuto Show, your favorite daily comedy show and home for unpredictable conversations, St. Louis humor, and the kind of comedy that absolutely shouldn't work... but somehow always does.If today's episode made you laugh, share it with a friend who also appreciates complete conversational whiplash.An unexpectedly wholesome note with stories that restore your faith in humanity. A Wisconsin man hands over the keys to his SUV so a stranded rock band can finish its tour. A father and son complete an entire year of playing catch every single day. A tiny Chihuahua's strange habit helps detect a dangerous illness before it's too late. It's the kind of start that makes you think everyone on the show is about to become better people.That feeling doesn't last long.The crew immediately launches into another round of the legendary Bean Boozled "Good or Gross" game, where listeners win concert tickets while the show risks tasting everything from rotten eggs and boogers to barf, toothpaste, dirty dishwater and dead fish. Somehow, against all odds, this becomes one of the luckiest rounds they've ever played... although luck is a relative term when toothpaste counts as a win.The conversation only gets weirder from there.How much money would you need before willingly giving up inches of your height forever? Would you become Danny DeVito-sized for a million dollars? Would you sacrifice ten inches for fifty million? The crew debates every ridiculous scenario while discovering everyone values their height a little differently.Then things unexpectedly get surprisingly honest when listener emails spark a conversation about saying "I love you" first in a relationship. How long is too long to wait for someone to say it back? What happens if they never do? One listener's real-life story turns into one of the more thoughtful discussions of the episode before everyone quickly returns to making fun of each other.Listener emails also inspire debates about fake email addresses for stores that insist on collecting your information, why prescription medications deserve cooler superhero names, and whether our parents' inability to throw anything away is simply leftover survival instinct passed down through generations.Like every daily comedy podcast, the episode bounces effortlessly between heartfelt stories, ridiculous games, bizarre hypotheticals, listener interaction and nonstop sarcastic commentary that somehow keeps the entire morning moving.Whether you're here for the disgusting Bean Boozled reactions, the hilarious debates, the weird listener emails or simply looking for your next daily comedy podcast, Episode 158 delivers another completely unpredictable morning with The Rizzuto Show. If your favorite kind of entertainment is watching grown adults argue about shrinking themselves for millions of dollars while trying not to throw up from jelly beans that taste like fish, congratulations—you've found your people.Follow The Rizzuto Show → https://linktr.ee/rizzshow for more from your favorite daily comedy show.Connect with The Rizzuto Show Comedy Podcast online → https://1057thepoint.com/RizzShow.Hear The Rizz Show daily on the radio at 105.7 The Point | Hubbard Radio in St. Louis, MO.Why 47 is the age you hit peak happiness, according to sciencePeople Are Sharing The One Thing They Learned Way Late In Life, And It's Hilariously RelatableUncrustables Just Made A Big Change That PB&J People Will AppreciateWild list shows which animal is most likely to kill you based on the state you live inMillennials Are Sharing The Worst Advice They've Ever Received From Boomers And My Mouth Is AgapeSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Happy Thursday... unless you're still under 47.This episode starts with stormy weather and surprisingly good moods before spiraling into one of those classic Rizz Show conversations where absolutely nothing stays on the rails. One minute everyone's discussing thunderstorms, Jason Sklar stopping by the show, and preparations for Rizz's upcoming birthday celebration. The next minute, an unexpected study claims that 47 is the happiest age of your life, immediately putting Rizz under the microscope as the crew debates whether he's actually become a happier human being over the years.That naturally leads to a full-on birthday debate. Are you someone who celebrates for an entire week with parties, brunches, vacations, and enough cake to feed a small town? Or are you the type who hopes nobody notices your birthday at all? The crew dives into the psychology behind birthday people versus birthday avoiders, sharing stories about how their own families handled birthdays growing up and how the show's attitude toward celebrating has completely changed over the years.Along the way, they confess the embarrassing things they learned way too late in life. From believing Elton John was blind because of his sunglasses to confusing Jimmy Buffett with Warren Buffett, nobody escapes the roast. Lauren admits her biggest regret is never paying attention in history class, while everyone else piles on with stories that somehow become even more ridiculous.Then it's time for one of the greatest grocery store discussions ever recorded. Boomers' biggest complaints about modern shopping somehow evolve into a business pitch involving off-road grocery carts, dune buggies with shopping baskets, lift kits for grabbing cereal off the top shelf, Bluetooth speakers, themed vehicles, and of course, an extensive update on the latest developments in Uncrustable technology. Yes... refrigerated Uncrustables become breaking news. Yes... everyone takes it completely seriously.The chaos keeps rolling with questionable life advice passed down from older generations, hilarious family sayings that somehow stuck forever, and a continuation of yesterday's impossible moral dilemma involving crimes, saving dogs, and making the world a better place in the weirdest ways imaginable.Later, the conversation turns surprisingly wholesome as the crew discusses new research into helping dogs live healthier, longer lives. Would you pay thousands of dollars for a few more healthy years with your best friend? Everyone has a different answer, and the discussion gets unexpectedly heartfelt before immediately swerving back into shark attacks, dangerous animals across America, and why Missouri's deadliest creature isn't nearly as exciting as you'd hope.As always, the conversation refuses to stay in one lane for more than a few minutes. That's exactly what makes this daily comedy show feel like you're hanging out with friends who accidentally turn every headline into an hour of laughs, random tangents, and conversations nobody saw coming.Whether you're here for birthday debates, grocery store adventures, ridiculous hypotheticals, weird news, celebrity mentions, or the latest in frozen sandwich innovation, Episode 49 delivers another unpredictable ride from The Rizzuto Show.Thanks for listening to another daily comedy show with the crew. If you laughed, argued with the birthday takes, or immediately wanted an Uncrustable after this episode, mission accomplished.Follow The Rizzuto Show → https://linktr.ee/rizzshow for more from your favorite daily comedy show.Connect with The Rizzuto Show Comedy Podcast online → https://1057thepoint.com/RizzShow.Hear The Rizz Show daily on the radio at 105.7 The Point | Hubbard Radio in St. Louis, MO.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Something in your life is breaking right now and you have already decided it means you are on the wrong path. What if it means the opposite? In this episode of The Spiritual Investor Podcast, I talk about opportunity, and why the biggest ones almost never arrive looking like opportunity. They arrive as contrast. Warren Buffett made more money in down markets than up ones, and the same principle runs through your money, your relationships, your health, and your work. When you call in a new timeline, your old self does not automatically come with it. What follows is a calibration period, and most people read that period as evidence that something has gone wrong. I also get into what this particular moment is offering us. Momentum is higher than it has ever been. We can do in three days what used to take three years, and AI is accelerating that further. The people who move with it will expand rapidly. The people who resist it will slow down. I share what happened in my own business when I decided to let go last December, what that word actually came to mean, and why we have made more money this year than ever. In this episode: Why the greatest opportunities live in contrast, and how contrast turns into suffering only when we let our interpretation run How to tell the difference between something going wrong and a calibration period into a new timeline What collapsing time actually means, and why your concept of four months is probably wrong Why your money frequency is already visible in what is showing up, and how to shift it through certainty rather than effort How abundance functions as safety instead of a reward you earn later The September Mastermind cohort begins September 1. Early bird pricing is available through August 20, and enrollment closes August 23. If this episode is landing, that room is where this work gets applied to your actual life and portfolio. Apply today at www.thespiritualinvestor.com/simastermind

Cutting expenses takes zero creativity. Building income takes knowledge — and the gap between those two mindsets is the difference between scraping by and compounding your way out of the rat race. Andy, Corey, and Noah break down the three cash flow streams you can stack from a single stock position every single month: dividends, put premiums, and covered call income. The same way a savvy real estate investor stacks rent, laundry, and vending — you can stack income layers on top of assets you already own. You'll hear how Warren Buffett collected premium for months before ever buying Burlington Northern, why the 401k charges you for the exact promise options traders get paid to make, and why the strategies most people think are risky are literally categorized as low-risk in your brokerage account. The only argument against this is not knowing how it works.

Could rising Treasury yields trigger the next major market downturn? In this exclusive interview, Jesse Felder, founder of The Felder Report, explains why he believes the 10-Year Treasury yield is the most important chart in the world—and why it could derail the AI boom, pressure stocks, and expose deeper problems in the global economy. Felder argues that investors are underestimating the risks building in the bond market, warns a slow-motion debt crisis is already underway, and explains why soaring government debt, persistent inflation, and higher interest rates could reshape markets for years to come. He also shares why Warren Buffett's massive Treasury position makes sense today, why momentum investing may be breaking down, where he sees value emerging, and why energy, oil, and commodities could outperform in the years ahead. In this interview: * Why Treasury yields matter more than ever * The biggest risk facing the AI boom * Why Jesse believes a debt crisis has already begun * The Federal Reserve's inflation challenge * What rising bond yields mean for stocks * Warren Buffett's defensive strategy * Gold, oil, and commodity investing * Value investing vs. momentum investing * What every investor should be watching next

Million-dollar ideas don't always create million-dollar results. Only focused implementation can do that. I remember the day that I got a phone call from a client who said, “Hey, we hit a million dollars in sales for this year. I’m really excited.” It’s a huge thing, because when you’re looking to grow like that — when you’re talking about multiplying your revenue in a relatively short period of time — there are very specific things that have to happen. Most people don’t know what those things are, and even if they do know what those things are, they don’t take action on them consistently enough to make it happen. David: Hi, and welcome to the podcast. In today’s episode, co host Jay McFarland and I will be discussing million dollar ideas. Welcome back, Jay. Jay: Hey, thank you, David. I have to tell you, this is a running joke in my home that I constantly have million dollar ideas. But I never do anything about it. And so I’ll have them.And then years later, my wife’s like, you told me about that, you know, five years ago, why don’t you do something about it? And I’m like, I don’t know. David: Yeah. And you’re not alone. I do the same thing. I think pretty much anyone I know who’s been involved in business in any capacity has had ideas. And then they see that somebody else did it later. And they’re like, “Oh man, I thought of that years ago.” And it’s like, yeah, well, unfortunately, as you indicated, thinking about it does not actually get it done. But it’s a fun topic because since we all pretty much have had them, we all have million dollar ideas, the question becomes. What are you doing with it? Or are you doing anything with it? And as I was thinking back on this in preparation for this podcast, it occurred to me that of the million dollar ideas that I might’ve had, and who knows, the ones that you don’t pursue, you have no idea what they’re worth, especially if nobody else then comes along and turns it into a billion dollar idea, but it occurred to me that I only took action on a few of them, and the ones that I took action on actually yielded some really good results. And the thing about a million dollar idea is… There’s a time component that really plays an important part in that, right? You could say, all right, my million dollar idea is to make $25,000 a year from the time I’m 25 until the time I’m 65. So if you multiply $25,000 by 40 years, it’s a million bucks, right? But if you’re earning $25,000 a year and it costs you $35,000 a year to live, then that plan is not going to work for you. But it is a plan. It’s an idea. It’s a million dollar idea. And so as we’re thinking about things that can actually get us from where we are to where we want to be. It’s a good idea to consider that. All right. Well, what’s the likelihood of generating revenue from this and how much on an ongoing basis so I can have an idea of where it’s going to take me? Jay: Yeah, it’s such a great point. I think for me, the fear of putting myself out there is one of the reasons why I haven’t pursued. And I’ve taken, some of them were good enough. I’ve taken a little stabs at them and I want to be successful by just stabbing at them and not really diving in a hundred percent. And it’s not until I said, “okay, I’m all in.” It wasn’t the idea that was bad. It was my desire to actually put any work and effort. I’ve just, I’ve always said, I want to have a company where all I do is come up with ideas and sell them. I don’t want to have to actually put the effort into, working on them. Why can’t I just earn the money from the idea? David: Right. Yeah. It’d be great if it worked that way, but somebody has to do the work that actually generates the revenue. But when I think about million dollar ideas, particularly as it relates to business. If somebody’s doing $250,000 a year in their business in four years, that became a million dollar idea. Now, again, if that’s your gross sales, it doesn’t mean that you’re making that much, right? It doesn’t mean that you’re pocketing that much, but it counts. It’s a million dollar idea, and then the question really becomes. Is my million dollar idea a million dollars in a lifetime? Is it a million dollars over 10 years? Over five years? Over a year? Is it a million dollars a month? Is it a million dollars a week? A million dollars a day? Because different businesses generate different amounts of money. I don’t know what Amazon is generating, how quickly it generates a million bucks, but it’s probably a lot faster than a million a day. It could be down to the minutes and seconds, probably is. Jay: Yeah, I really think a lot of what you’re talking about is your expectation, right? you’re just saying, I want to have this idea to make money, that to me really kind of feels misguided. And to be honest with you, a million dollars does not sound like that much money anymore, right? So it’s more a matter of, I think defining better what the idea is and what you want it to achieve. Are you looking for financial freedom to where you can travel and buy nice cars? Are you just looking to pay your bills? I think putting some better definition on it is more important than using this word million dollar and somehow that’s a sign that you’ve been successful. Cause as you said, you may be making millions a year in gross sales, but you could be losing as much, if not more. So, yeah, you have to be a little bit more specific than that. David: I remember when my daughter was young, we were talking about the idea of a million dollars at one point. And I said, well, think about this. Let’s say you make a million dollars. You’re able to save a million dollars and you’ve got a million dollars. You’ve got exactly a million dollars in the bank. And so you go out to celebrate and you go have lunch at McDonald’s and you spend $12. Now you’re no longer a millionaire. Right? Because you spent your twelve bucks. Whatever it is. And, I don’t know, just the idea of these money benchmarks being some form of accomplishment, I think is a little misguided. Jay: Yeah. David: And generally it’s misguided by people who look at it as a goal, think that it’s something to aspire for, and then if and when you get there, it’s like, oh, okay, now what? You know, now you go for more, right? And no matter what your number is, even if you’re Warren Buffett and you’re a multi billionaire, probably another extra billion or two never hurts. Jay: Yeah, I agree. For me, I kind of think about how I determine success in business. I have steps, like you said, benchmarks. So my first benchmark is, can I just pay my bills? Right? Can I feed my family, pay my car payment, keep the electricity on? If I can pay my bills, I’ve achieved a level of success because I don’t have to go out and have somebody else tell me how to do my job all day for an hourly wage. So that’s goal number one. Can I pay my bills with my business year round? Then I start saying, well, can I still make the money I’m making, but do less or spend less to make it? So maybe I only have to go into this business three days a week, and then two days a week I can be with my family or I can be tinkering, you know, with my car in the garage or something like that. So I start to look at it more in terms of time than I do in terms of actual dollar amounts. David: Yeah, the time component is huge and also consistency I think is huge. I had a client who signed up for our Total Market Domination course a couple of years ago. She was doing about $250,000 in sales at the time. She wanted to get to a million dollars. And so we went over the specific steps that she would need to take to do that. And she was a great implementer. She was able to do it. And I remember the day that I got a phone call from her and she said, “Hey, we hit a million dollars in sales for this year. I’m really excited.” Jay: Yeah. David: It’s a huge thing because when you’re looking to grow like that, when you’re talking about multiplying your revenue in a relatively short period of time, there are very specific things that have to happen. Most people don’t know what those things are, and even if they do know what those things are, they don’t take action on them consistently enough to make it happen. So for those who are looking to get to benchmarks like that, if you have a million dollar idea, if you know in your bones that this thing is likely to generate that amount of money, but you’re not quite sure how to get there, then we really ought to have a conversation. Jay: Yeah, and again, we talked about scary things and the fear of the unknown in our Halloween podcast. That’s what’s so hard, and one thing I keep telling people is, you don’t have to reinvent the wheel. This is not the beginning of time . There are so many people out there who have done this and duplicated this over and over again. And often times, just coming up with a unique idea, that’s one of the toughest parts of the battle. Then if you can access and not be afraid to talk to people, see people like yourself, who have done this over and over again, and who have helped other people achieve it, if you can get rid of a lot of the unknown, and then just implement your idea, how much better is that going to be for you? David: Exactly. And so much of it just boils down to focus. It’s about what are the few things, what are the fewest steps I can take, the fewest number of activities that I can engage in to get me to my goals. And a lot of times it’s a lot simpler than people think. But they’re so distracted with all these different things they think they have to do that they end up missing the boat. And it goes back to your point earlier where, “hey, wouldn’t it be great if I could do less things, do fewer things, and still generate the revenue?” And the truth of the matter is that if you’re doing too many things, your likelihood of getting there goes down dramatically. Jay: Yeah, and we’ve talked about if the way you run your business is just putting out fires, or just, the squeaky wheel gets the grease, oftentimes those are not the places that you should be focused. And if you could identify those things, be very strategic in your mind and identify what the most important things are. Focus on those. You’re still going to have fires, but maybe you’ll approach them differently. That’s how mentorship, speaking with you, you always say give us a call. Sometimes just vocalizing and hearing yourself say it and having a sounding board is all it takes to get a little bit of clarity. David: Yeah, and we’ve had many conversations with people who were not a good fit for our program, but they still got a lot of great ideas for the call. They had some direction. They had some steps they could take. And sometimes what happens, we’ll have a conversation like this. They’ll implement a couple of things that we’ll tell them on the call. And then we’ll get a call back from them a few weeks later or a month or two later. Hey, listen, I did that. That really worked. I was able to generate more than enough to pay for the program. You know, let’s talk about that again now. And it’s about being able to help people to accomplish what they’re looking to accomplish when they either don’t have the exact knowledge they need, or if they don’t have the consistency in the approach. Jay: Yeah, it’s one of the reasons I love this podcast because, you know, I’ve been in business my whole life and I think, hey, I’ve got some level of understanding here. But you and I get on and we start chatting and either I say things that I’ve never thought of before, but this conversation triggered that, or you have a completely different perspective because you’ve been in different types of businesses than I have. And I walk away going, you know what? I’m going to use that! I mean, there are things that we’ve talked about just in this podcast that I’m implementing in my new business. And why? It’s because we talked. That’s it. We just, we’re bouncing ideas off of each other and learning from each other’s experiences. David: Yeah, and that’s one of the things that I love about talking with you. It’s also one of the things that I love talking about with my customers. Earlier this week, I was going back and forth with one of our customers inside the Total Market Domination course, and she referenced something that I had talked about years ago. She didn’t put it in those terms, but she was talking about the idea of sort of flying under the radar. And it reminded me of some material that I put together a while ago talking about moving from stealth mode to intimidation mode, like flying under the radar, getting everything in place, getting relationships set up with clients before your competitors even know anything is happening. And so you’re flying in stealth mode. And then you get to the point where you’ve got this momentum going under the radar. And then when you burst onto the scene, it’s very intimidating for your competitors because they’re like, “Where did this person come from?” So I believe these conversations, they’re helpful for everybody. When I talk to somebody for the first time on one of these strategy sessions, we have a conversation, very often it will remind me of something else that will help them. And it will also help me in terms of, yeah, wow. That’s something that we should talk more about because we know it works. Jay: Yeah, and kind of circling back to having that million dollar idea. One of the things that I’ve always wanted to do is have a million dollar idea and achieve it on my own. That way I don’t have to deal with employees. And is that going to happen? Am I really going to pull off a million dollar idea on my own? Probably not. Maybe as an internet influencer or something like that. But the reality is… The first step is having the idea. The second step is asking the question, “Who’s going to help me do this?” Whether it’s partners, staff, or consultants. I think the first thing you have to do is get that out of your mind that you’re going to pull this off on your own. David: Yeah, and maybe there’s some people who do that. I’ve never done that myself. I mean, any business that I tried to do by my, well, I never really tried to do any business by myself, I knew very early on when I would start a business, I’m like, “oh no, I need help with this, I need help with that.” But maybe there are some people who can do it, but I think the smart way to approach it, in my opinion, is that you look at what you need to have happen. You look at what you need to build and then who can help me do that. You get those spots in place, filling the seats on the bus. Good to Great. In the book, Good to Great, Jim Collins talks about getting the right people on the bus. And I think that’s really key. Jay: Alright, well, people who have their million dollar ideas or they’re already working on them, how do they find out more? David: Go to TopSecrets.com, schedule a call with us, actually TopSecrets.com/call to schedule a call with us, TopSecrets.com is the main website, TopSecrets.com/call is where you can go to schedule a call with our team and we can just sort of talk through things. What are you looking to accomplish? If you have a million dollar idea or if you know that your business should be hitting numbers that you’re not yet hitting. Let’s talk about it. Let’s talk about where you are now, where you need to be in terms of visibility and sales and profits, and see what we can do to help you get there. Jay: And it’s a great first step, David. Thank you so much. Always great to talk to you. David: You too. Thanks, Jay. Ready to Convert Your Million Dollar Ideas into Cash? If not, check out the five primary ways we help promotional product distributors grow: Just Getting Started? If you (or someone on your team) is just getting started in promotional products sales, learn how we can help. Need Clients Now? If you're already grounded in the essentials of promotional product sales and just need to get clients now, click here. Want EQP/Preferential Pricing? Are you an established industry veteran doing a significant volume of sales? If so, click here to get End Quantity Pricing from many of the top supplier lines in the promo industry. Time to Hire Salespeople? If you want to hire others to grow your promo sales, click here. Ready to Dominate Your Market? If you're serious about creating top-of-mind-awareness with the very best prospects in your market, schedule a one-on-one Strategy Session here.

Don't get to the end of this year wishing you had taken action to change your business and your life.Click here to schedule a free discovery call for your business: https://geni.us/IFORABEDon't miss an upcoming event with The Institute: https://geni.us/InstituteEvents2026Shop-Ware gives you the tools to provide your shop with everything needed to become optimally profitable.Click here to schedule a free demo: https://geni.us/Shop-Ware-Free-MonthTransform your shop's marketing with the best in the automotive industry, Shop Marketing Pros!Get a free audit of your shop's current marketing by clicking here: https://geni.us/ShopMarketingProsShop owners, are you ready to simplify your business operations? Meet 360 Payments, your one-stop solution for effortless payment processing.Imagine this—no more juggling receipts, staplers, or endless paperwork. With 360 Payments, you get everything integrated into a single, sleek digital platform.Simplify payments. Streamline operations. Check out 360payments.com today!In this episode, Lucas Underwood and David Roman are joined by Tyler Steever, a technician from Sioux Falls, South Dakota. Tyler Steever shares his path into the industry, highlighting how mentorship and hands-on learning shaped his career. The conversation delves into the importance of good shop culture and personal development, with Tyler Steever emphasizing the impact of teaching others and building supportive relationships. The episode also addresses mental health in the industry, as Tyler Steever openly discusses his personal struggles and the need to break the stigma around seeking help.00:00 Getting into vehicle repair05:03 Team cattle sorting challenge06:51 Learning from a mentor10:02 Rodeo scene and local issues12:59 Changing jobs in the auto industry16:34 Teaching horse training clinics21:28 Reflecting on family and self-worth23:33 Marriage as a lifelong commitment26:01 Communication in Marriage30:32 Warren Buffett's best advice32:21 Struggling with mental health at school36:21 Growing up with a religious dad40:39 Technician's unexpected promotion story41:51 Quitting a job rashly46:39 Sharing personal goals and vision49:38 Dog comforts during a breakdown52:10 Discussing family and Ziploc bags56:10 Spreading awareness and support

Expectations often lead to disappointment and unnecessary suffering. We'll help you loosen their grip in this edition of Doing What Works.Here are your show notes…Warren Buffett says the key to a long marriage is low expectations.If you've got a T-shirt with blood stains all over it maybe laundry isn't your biggest problem right now.Dan Savage says any long-term relationship that's successful is really a myth that two people create together.Maybe You Should Talk to Someone.

You are probably already doing the same things the people on the cover of Success magazine do. In this episode of DarrenDaily On-Demand, Darren Hardy argues that what actually separates the highest achievers is not what they do, but what they refuse to do, and that the real master skill of success is the ability to say no. He draws on a candid answer Warren Buffett gave him about the one key to his fortune, a principle the late Steve Jobs lived by, and the blunt advice Jobs once handed the incoming CEO of Nike. This episode dives into why saying no to good, tempting, ego-flattering commitments is the true separating factor, and leaves you with a simple audit of your own calendar. Focus, it turns out, is mostly subtraction. Get more details on the INSANE PRODUCTIVITY program mentioned at the end of the episode at https://insaneproductivity.com/ Get more personal mentoring from Darren each day. Go to DarrenDaily at http://darrendaily.com/join to learn more.

John continues his conversation with Roy Smith. They discuss why modest living can be a security strategy and what recent high-profile incidents reveal about gaps in security systems. Roy also shares practical advice for influencers and high-profile people on how to stay off the wrong people's radar, build the right security posture, and hire the right people for protection. Listen to this episode to learn more: [00:00] - Wealthy people like Sam Walton and Warren Buffett lived modestly [02:36] - Some ways to stay off the wrong people's radar [05:01] - Basic security strategy for influencers & high-profile people [07:38] - Roy's thoughts on clients carrying firearms [10:37] - What went wrong during the attempted assassination of Donald Trump [14:25] - Charlie Kirk incident from a protection standpoint [19:48] - How Viking EPS finds and hires security professionals [22:35] - Why character matters more than an impressive resumé [25:21] - Rapport vs. professional distance with clients [28:00] - Every client needs a different style of protection [31:02] - How often do real threats happen? [32:03] - Why media protection is where Roy sees the most threats [34:04] - Roy's definition of success [36:00] - Traits of a great leader [36:39] - How Roy's team responds to his leadership  [38:10] - Best advice Roy ever got [39:09] - Legacy Roy wants to leave [39:45] - How Roy is investing in his growth [41:44] - When John lost 50% of revenue in two months during 2008 [44:20] - How to connect with Roy [47:46] - Book recommendations [49:30] - Wrap-up NOTABLE QUOTES: "If no one really knows who you are, they're not going to watch you." "Don't be reactive. Be proactive." "Don't just think, 'Oh, I'm not a target,' because that's when you may become a target." "If I get in a gunfight with someone, protecting someone, I've already lost because now my client is exposed." "On paper, you can make your resume look like a beast... But when you put the boots on the ground is when you actually can see how someone really is." "Success is taking your God-given talents, and using it to the best of your ability every day." "Don't let ego get in your way of success." "How can I ask you to do something that I'm not willing to do?" "The wisdom only comes from screwing up." "A good leader is someone who has compassionate understanding, knowledge, but not knowledge to a point where they believe they know everything, and they can still learn from the people that are underneath them and working beside them." BOOKS MENTIONED: Left of Bang: How the Marine Corps' Combat Hunter Program Can Save Your Life by Patrick Van Horne and Jason A. Riley (https://a.co/d/0h5VqQLm) The Art of War by Sun Tzu (https://a.co/d/0j0tqq5T) Green Book (book and movie) USEFUL LINKS: https://vikingeps.com/ https://www.linkedin.com/in/roysmithviking/ https://www.instagram.com/viking_eps/ https://www.facebook.com/roy.smith.12720 https://www.facebook.com/profile.php?id=61573089273718&ref=NONE_xav_ig_profile_page_web https://x.com/vikingeps https://www.youtube.com/@vikings-d9g CONNECT WITH JOHN Website - https://iamjohnhulen.com    LinkedIn - https://www.linkedin.com/in/johnhulen Instagram - https://www.instagram.com/johnhulen    Facebook - https://www.facebook.com/johnhulen    X - https://x.com/johnhulen    YouTube - https://www.youtube.com/@iamjohnhulen   EPISODE CREDITS Intro and Outro music provided by Jeff Scheetz - https://jeffscheetz.com/ 

The Warren Buffett conversation continues! After the response to our 400th episode, Mark Longo and Dan Passarelli head back to the mailbag to tackle even more listener questions about the Oracle of Omaha and his approach to options. On this episode, we discuss: Are covered calls compatible with Buffett's buy-and-hold philosophy? Would Buffett ever use LEAPS instead of buying stock? Is "getting paid to wait" really the same thing as selling option premium? Does Buffett care about implied volatility when selling options? How might Buffett use options once he owns a stock he plans to hold forever? The unusual economics behind some of Buffett's legendary long-term put trades Why the "magical Buffett premium" may be something ordinary options traders can only dream about Plus, a trip deep into the Options Boot Camp archives

The Warren Buffett conversation continues! After the response to our 400th episode, Mark Longo and Dan Passarelli head back to the mailbag to tackle even more listener questions about the Oracle of Omaha and his approach to options. On this episode, we discuss: Are covered calls compatible with Buffett's buy-and-hold philosophy? Would Buffett ever use LEAPS instead of buying stock? Is "getting paid to wait" really the same thing as selling option premium? Does Buffett care about implied volatility when selling options? How might Buffett use options once he owns a stock he plans to hold forever? The unusual economics behind some of Buffett's legendary long-term put trades Why the "magical Buffett premium" may be something ordinary options traders can only dream about Plus, a trip deep into the Options Boot Camp archives

On the latest 100 Year Thinkers, Robert Hagstrom joins Matt Zeigler and Bogumil Baranowski to revisit the 25th anniversary edition of The Warren Buffett Portfolio and explain why volatility is not the same as investment risk.They discuss concentrated portfolios, active share, business valuation, behavioral finance, complex adaptive systems, and Warren Buffett's warning that the market's casino can overwhelm its cathedral.The Warren Buffett Portfolio – 25th Anniversary Editionhttps://amzn.to/3TVXoruRobert Hagstrom on Xhttps://x.com/RobertGHagstromEquity Compasshttps://www.equitycompass.com/Topics coveredWhy Markowitz's definition of risk as variance shaped modern portfolio theoryWhy Buffett views permanent capital loss, not volatility, as the real investing riskWhat Hagstrom's study of 3,000 portfolios revealed about concentration and market outperformanceThe difference between know-something investors and investors better served by indexingHow benchmark awareness creates closet indexers and weakens active managementWhat loss aversion and prospect theory explain about investor behaviorWhy Darwin, William James, and complex adaptive systems offer better models for marketsBuffett's cathedral and casino metaphor for business ownership versus speculationThe El Farol problem, Jim Simons, and why successful market models stop workingWhy options trading, leveraged ETFs, and record single-stock dispersion may be strengthening the casinoHow to evaluate portfolios using cash flow, return on invested capital, and look-through earningsWhy permanent capital and System 2 thinking are essential for focused investingTimestamps00:00 Intro04:00 Why Markowitz defined risk as variance11:47 What 3,000 portfolios revealed about concentration17:17 Know-something versus know-nothing investors22:23 Kahneman, loss aversion, and modern portfolio theory26:58 Darwin, pragmatism, and adaptive markets32:28 Buffett's cathedral and casino metaphor37:37 The El Farol problem and why markets resist prediction42:08 Why investors crave market forecasts46:16 Why investing is most intelligent when businesslike51:38 Record stock dispersion, options, and leveraged ETFs56:00 Measuring portfolio progress through business economics01:00:43 Why permanent capital enables focus investing01:04:43 How markets survive widespread investor mistakesLearn more about the Excess Returns podcast network:https://excessreturns.coNo information discussed in this podcast should be construed as investment advice. Securities discussed may be held by the hosts and guests, their firms, or their clients.

In this episode, I sit down with Dr. Robert Cialdini, one of the world's foremost researchers on influence and the bestselling author of Influence, to discuss what actually builds trust in relationship-driven business development. Rather than focusing on persuasion tactics, we explore the small, practical behaviors that help experts create stronger client relationships over time—from expressing genuine affinity and finding authentic points of connection to using language that reinforces partnership instead of distance. We also talk about why human connection often matters more than demonstrating expertise alone. Dr. Cialdini shares research-backed examples on asking for advice instead of opinions, making communication feel more personal, framing conversations around shared goals, and even how admitting a past mistake can strengthen credibility.   Topics We Cover in This Episode:  Why the principles of liking and unity are foundational to lasting client relationships A simple language shift that turns critics into collaborators How to find authentic common ground without forcing rapport Why humanizing your communication can be more persuasive than emphasizing credentials What Warren Buffett's shareholder letters teach about building trust How acknowledging a past mistake can make future recommendations more credible When framing outcomes as potential losses can be more motivating than highlighting gains Practical ways to make emails, conversations, and client interactions feel more personal   If you're looking for practical ways to strengthen trust, communicate more effectively, and build relationships that last, I think you'll find plenty to take away from this conversation.   Resources Mentioned: Cialdini Free Assessment — cialdini.com   Book: Influence by Robert Cialdini — https://a.co/d/05dd7GPv  Robert Cialdini's other books — https://www.amazon.com/stores/author/B000AP9KKG/   Sign up for Bunnell Idea Group's free AI Business Development tool, GrowBIG AI: growbig.ai Sign up for Mo's weekly newsletter: GrowBigPlaybook.com Free Give to Grow Training and Downloadable Materials: Givetogrow.info Give to Grow Amazon Order Link:  https://a.co/d/ec8DTzc Follow Mo's LinkedIn: https://www.linkedin.com/in/mobunnell/

Most of us think we're pretty good drivers. But even experienced drivers develop bad habits without realizing it. Fortunately, a few simple adjustments can make you a safer, more alert driver—and could even help you avoid a serious crash.https://www.nhtsa.gov/road-safety Ask people to name the greatest investor of all time and chances are Warren Buffett will top the list. So what does he know that the rest of us don't? What principles has he followed for decades that allowed him to build one of history's greatest fortunes—and how can ordinary investors put those same ideas to work? Here to explain is John Longo, Professor of Professional Practice in the Finance and Economics Department at Rutgers Business School and Chief Investment Officer of Beacon Trust, a $3+ billion registered investment advisor. He is co-author of the book, Buffett's Tips: A Guide to Financial Literacy and Life.(https://amzn.to/4fjckqZ) No matter how hard we try to avoid them, disagreements are a part of life. The problem is that too many of them quickly turn into arguments where no one changes their mind and everyone walks away frustrated. But research shows there are surprisingly effective ways to disagree that make people more willing to listen, preserve relationships, and often lead to better outcomes. Here with that practical advice is Julia Minson, a behavioral scientist whose work focuses on the psychology of disagreement. Her research has been featured in TIME, The Atlantic, The Washington Post, and The New York Times. She is a professor at Harvard Kennedy School and author of the book How to Disagree Better (https://amzn.to/4wHHbEx). Many of us are making a common mistake with modern dishwashers that actually makes them clean worse. It feels like the right thing to do, but it can prevent the dishwasher from doing the job it was designed to do—and waste water in the process. https://www.consumerreports.org/appliances/dishwashers/how-to-load-a-dishwasher-a6704518317/ PLEASE SUPPORT OUR SPONSORS WAYFAIR: Ready to upgrade your home for way less? Head to ⁠⁠⁠⁠https://Wayfair.com⁠⁠⁠⁠ right now to shop all things home and get your space ready for less.  QUINCE: Elevate your summer wardrobe. Go to ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://Quince.com/sysk⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ for free shipping on your order and 365-day returns. Now available in Canada, too! SHOPIFY: It's time to turn those "what ifs" into CHA CHING with Shopify Today! Sign up for your $1 per month trail and start selling today at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://Shopify.com/sysk⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ INDEED: Get a $75 Sponsored Job credit to help get your job the premium status it deserves at ⁠⁠⁠https://Indeed.com/PODCAST⁠⁠⁠ Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, William Green chats with Christopher Begg, a renowned hedge fund manager who is the CEO & CIO of East Coast Asset Management. Chris is also an adjunct professor at Columbia Business School, where he teaches the prestigious Security Analysis course that Ben Graham taught to Warren Buffett in 1951. Here, Chris shares rich insights about Tesla, Alphabet, SpaceX, Constellation Software, & the art of discovering great investments hidden in plain sight. IN THIS EPISODE YOU'LL LEARN: (00:00:00) Intro (00:03:30) How writing helps Chris Begg to “compress complexity into essence” (00:10:38) How to succeed by slowing down, training your attention, & going deep (00:32:48) How Alphabet embodies everything he seeks in a long-duration compounder (00:38:44) How fears of AI disruption created enticing bargains among software stocks (00:43:18) Why he focuses on great businesses with 8 layers of competitive advantage (00:55:04) What he learned from Buffett & Munger about the power of deserved trust (01:02:17) What ancient cathedrals can teach investors about businesses that endure (01:08:15) Why he steered clear of Elon Musk, then changed his mind & bet big on Tesla (01:24:58) What investors don't yet see about the emerging capabilities of SpaceX (01:33:04) Why he reveres right-brained investment giants like Bill Miller & Nick Sleep (01:38:52) How Chris structures his life to create enduring value (01:51:43) How to prosper mightily without engaging in “extractive short-termism” (01:59:00) How a magical experience with his son reveals the true meaning of wealth Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Inquire about William Green's ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Richer, Wiser, Happier Masterclass⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Christopher Begg's investment firm, East Coast Asset Management. Robert Pirsig's books Zen & the Art of Motorcycle Maintenance & Lila. Iain McGilchrist's books The Matter with Things & The Master & His Emissary. Christopher Begg's song, The Great Work. William Green's podcast episode with Daniel Goleman & Tsoknyi Rinpoche. William Green's 2025 podcast episode with Christopher Begg. William Green's 2023 podcast episode with Christopher Begg. William's book, ⁠⁠Richer, Wiser, Happier⁠⁠. Follow William Green on ⁠⁠⁠X⁠⁠⁠. Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast. Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. NEW TO THE SHOW? Get smarter about valuing businesses through ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Follow our official social media accounts: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠X⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Try our tool for picking stock winners and managing our portfolios: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Finance⁠⁠⁠⁠⁠⁠⁠⁠. Enjoy exclusive perks from our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠favorite Apps and Services⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. SPONSORS Support our free podcast by supporting our ⁠⁠⁠⁠sponsors⁠⁠⁠⁠: ⁠Plus500⁠ ⁠Netsuite⁠ ⁠Shopify⁠ ⁠Vanta⁠ References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor's Podcast Network is not responsible for any claims made by them. Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Get the 200+ Page Optimal Living Daily Workbook (PDF) — Free. Want to turn today's episode into an actionable plan? Join the Optimal Living Weekly newsletter and I'll send you our 200-page digital workbook immediately. It's packed with the best takeaways from the show, formatted for easy reading and implementation at home. Get your free PDF workbook here: ⁠https://oldpodcast.eo.page/join⁠ Discover all of the podcasts in our network, search for specific episodes and learn more at:⁠ OLDPodcast.com⁠. Episode 3636: Andrew explains how index funds offer a simple, low-cost way to invest by tracking major market indexes instead of trying to beat them. Learn why these diversified funds have outperformed most actively managed funds over the long term and why investors like Warren Buffett recommend them for retirement savings. Read along with the original article(s) here: https://www.dollarafterdollar.com/what-is-an-index-fund/ Quotes to ponder: "Index funds are great for anyone who wants to invest passively." "Passive fund management tends to lead to better performance in the long term." "Only 13% of around 8,000 mutual funds are able to achieve outperforming the market index!" Episode references: S&P 500 Index: https://www.spglobal.com/spdji/en/indices/equity/sp-500/ John C. Bogle: https://www.britannica.com/biography/John-Bogle MSCI EAFE Index: https://www.msci.com/indexes/index/990300 Russell 2000 Index: https://www.ftserussell.com/products/indices/russell-us NASDAQ Composite Index: https://www.nasdaq.com/market-activity/index/comp Bloomberg U.S. Aggregate Bond Index: https://www.bloomberg.com/professional/product/indices/bloomberg-fixed-income-indices/ The Vanguard 500 Index Fund: https://investor.vanguard.com/investment-products/mutual-funds/profile/vfiax Learn more about your ad choices. Visit megaphone.fm/adchoices

Berkshire Hathaway is expanding its homebuilding empire with another acquisition, this time adding McGuinn Homes to its growing portfolio. Kathy Fettke explains why Warren Buffett's company is doubling down on site-built and build-to-rent housing, what it signals about the future of the housing market, and why real estate investors should be paying attention.   Learn more at www.Realwealth.com/Syndications   Source: https://www.resiclubanalytics.com/p/warren-buffett-heir-buys-homebuilder-mcguin-berkshire-hathaway-clayton-homes

Ralph welcomes back his old running mate, Native American activist, Winona LaDuke, who has devoted her life to advocating for Indigenous control of their homelands, natural resources, and cultural practices to talk about her latest incarnation: hemp farmer. Then, we'll speak to Hal Weitzman, from the University of Chicago's Booth School of Business, about how Elon Musk's feud with Delaware may transform corporate America. Plus, we tick off Robert Reich's ten policy prescriptions the Democratic Party should fight for to beat the GOP in the upcoming midterms.Winona LaDuke is an activist, economist, and author, who has devoted her life to advocating for Indigenous control of their homelands, natural resources, and cultural practices. She is also a two-time vice-presidential candidate with Ralph Nader. Ms. LaDuke lives and works on the White Earth Ojibwe reservation in northern Minnesota, where she runs Winona's Hemp & Heritage Farm. She is also a member of the Indigenous Hemp & Cannabis Farmer's Cooperative.I'm looking first at seed sovereignty. We're growing [European hemp] varieties and then we're growing these feral hemp varieties. They're called feral varieties (which of course, that's something that I love) which means that when they eradicated hemp in the 1930s with the Marijuana Prohibition Act—well, they missed some spots. And those guys kept growing. And so 80 years of being illegal—isn't that great? Something that's illegal for 80 years is still with us, rocking out. And so I figure if you grew illegally for 80 years, you are really a tough hemp plant…And so we are growing out these hemp varieties and built a cooperative because we want to own the seeds and we want to own the technology (the value-added processing), and we want to use this hemp as a part of our future as tribes.Winona LaDukeMy grandsons are farming. I don't know who else can say their grandchildren are farming—let me know. My grandchildren are farming. They're running the horses. They're running the farms. You know, that's a retirement plan. My 401k will be worth nothing, but my grandchildren will feed me. This is my strategy.Winona LaDukeHal Weitzman is Executive Director for Intellectual Capital at the University of Chicago Booth School of Business, editor-in-chief of Chicago Booth Review, and host of The Chicago Booth Review podcast. A former Financial Times editor and foreign correspondent, he is the author of Latin Lessons: How South America Stopped Listening to the United States and Started Prospering and What's the Matter with Delaware?: How the First State Has Favored the Rich, Powerful, and Criminal—and How It Costs Us All.There is a race to the bottom. There's been a race to the bottom for many decades. That's not new. I think it's accelerated somewhat. Delaware has joined that race from having been something of a “premium product” in terms of incorporating companies—Delaware has become a bit more “cut-price” I would say, and in that sense has followed Texas and Nevada. So the conclusion that we have a race to the bottom and it may be worse than Delaware—actually I think Delaware's already there. So it's not that it's getting worse outside of Delaware, it's getting worse including Delaware.Hal WeitzmanThe trend I think we're seeing is the exclusion of small shareholders completely—regardless of the status of your shares, this is about how big you are. And if you're a small shareholder there is no corporate democracy for you… It was practice in the past for activist groups, campaigning groups, to buy one share of a company and then to go to the shareholder meeting so they could make the point that they wanted to make. Now that kind of shareholder democracy is being encroached on. And the extent now is to say: unless you have a large position (regardless of the size of the company and the cost of the shares), you will not be allowed to bring suits against the executives for the correct running of the company.Hal WeitzmanNews 7/17/26* Our top story this week is New York Governor Kathy Hochul's decision to impose a one-year “pause” on the construction of AI data centers across the state. ABC7 reports that this is the first such moratorium in the nation, despite similar attempts in several states, most notably Maine where Governor Janet Mills vetoed a bill to this effect. Hochul argues that the pause is necessary so lawmakers and regulators can formulate “Guardrails to reduce the risk to our energy grid, minimize land disruption, noise pollution, and protect our natural resources, especially our water supply.” Hochul's move comes amidst a broader push against AI data centers from the left. Semafor reports Senator Bernie Sanders proposed a nationwide ban in March and many progressives running for state and local office in the midterms have made this a cornerstone of their campaigns. According to this piece, “In February, polling from Marquette Law School found 70% of all Wisconsinites agreeing that ‘the costs of the data centers outweigh the benefits.' Among Democrats, the number was 85%.”* Another progressive Member of Congress quite literally stepped into another hot-button political issue this week. While visiting a Palestinian village in the occupied West Bank Wednesday, Al Jazeera reports armed settlers stopped the van of Representative Ro Khanna and were “later joined by Israeli soldiers who continued to block the road.” In a video, Khanna points out, settlers can be seen “brandishing M4s [rifles], kicking the tyres of our van, laughing at us, mocking at us, videotaping us.” This continued for over an hour and was only resolved when he reached out to the American Embassy, according to Khanna. Israel has responded to this fiasco by blaming Khanna, accusing the congressman of failing to coordinate his trip with the Israeli government; Khanna retorted that “The [Israeli military] is lying” and called for the arrest of the violent settlers. Conservative political commentator Tucker Carlson excoriated U.S. Ambassador to Israel Mike Huckabee, writing “An American member of congress is threatened by foreign terrorists carrying American rifles, backed by a foreign military paid for by American taxpayers, and the US ambassador to that country says not a word in defense of his own countryman…It's too much, too insulting and humiliating to America.”* Following his return from occupied Palestine, Khanna again teamed up with Republican Congressman Thomas Massie of Kentucky to sponsor an amendment to the National Defense Authorization Act (NDAA) which would have removed the “United States-Israel Defense Technology Cooperation Initiative” from the must-pass legislation. Responsible Statecraft describes the initiative as “an unprecedented integration of the U.S. and Israeli military industrial complexes,” by creating “an executive agent within the Department of Defense whose sole responsibility is furthering U.S. and Israeli military tech integration across nearly every facet of the defense process.” This article also notes that “Israeli Prime Minister Benjamin Netanyahu has described this shift in the U.S.-Israel relationship as ‘my plan.'” However, House leadership is not backing this commonsense, bipartisan amendment. In a letter, Minority Leader Hakeem Jeffries said he would vote against the amendment, calling it “overly broad” and claiming the amendment would “restrict our country's ability to confront Hamas, Hezbollah and other terrorist organizations in the region who are sworn enemies of both the United States and Israel,” per the Times of Israel. However, Jeffries pledged not to whip votes against the amendment and indeed the House Minority Whip, Congresswoman Katherine Clark, voted for the amendment as did Speaker Emerita Nancy Pelosi, despite the opposition of Jeffries and House Democratic Caucus Chair Pete Aguilar. The Congressional Progressive Caucus reportedly whipped votes in favor of the amendment.* In more Israel-related news, this week Marco Rubio – who serves as Secretary of State as well as the acting National Security Advisor – announced that the State Department will launch a “sweeping campaign to dismantle…the International Criminal Court.” CNN observes that “The administration's ire against the ICC goes back to President Donald Trump's first term, when it targeted the ICC for seeking to investigate alleged war crimes committed by US forces in Afghanistan,” and that since taking office for the second time, the Trump administration has “imposed a slew of sanctions against ICC officials for their attempts to investigate the US and Israel.” CNN also quotes a State Department official who said that top officials, including Secretary Rubio and US ambassadors, “are calling countries as part of a campaign to diplomatically isolate the International Criminal Court.” It is worth noting that “all American presidents since the ICC's ratification have maintained that the ICC does not have jurisdiction over Americans,” and that Congress even passed a law calling for an invasion and occupation of the Hague if any American serviceman was ever prosecuted by the ICC, implying that this crackdown on the court is not about American sovereignty at all but rather the prosecution of Israeli officials for their war crimes in Gaza.* In another stunning story starring Marco Rubio, the New York Times reports the Secretary of State is functionally “running Venezuela from afar.” The Times story characterizes Rubio's position as the “de facto viceroy of Venezuela,” effectively controlling the country's “finances, the distribution of its natural resources and its government.” This story makes clear that while Delcy Rodríguez, the former Vice President of Venezuela under Nicolás Maduro, nominally occupies the presidency, Rubio is the one really calling the shots, with Rubio setting the conditions on what Venezuela's export revenue “can be spent on, and by whom,” and having the authority to approve or deny key governmental appointments in the country, such as the minister of defense. In short, the United States has established a shocking explicitly neo-colonial regime in the country, fulfilling the gravest prognostications of anti-imperialist critics of American intervention in the Bolivarian Republic.* Closer to home, Bloomberg reports the federal government has officially launched a grand jury investigation into the United Auto Workers and the union's outspoken president, Shawn Fain. The investigation stems from accusations made by the union's Vice President, Rich Boyer, who alleged that Fain used his position to secure benefits for his fiancée and her sister – and when Boyer refused to approve the benefits, Fain retaliated by stripping Boyer of his duties as chief negotiator with Stellantis NV. Fain has called the allegations “false” and is accusing Boyer of seeking to influence the upcoming UAW leadership election. Fain also claims that Boyer is the one retaliating after Fain “refused the vice president's request to hire family members to positions in the union.” Fain has long maintained that the Justice Department, and specifically the DOJ-appointed monitor, Neil Barofsky, has a political grudge against him because “the UAW took an anti-war stance about what was happening in Gaza.” According to Bloomberg, “Both Fain and Boyer have slates running and each is accusing the other of attempting to abuse their positions to benefit family.”* This week, another victim of harassment by the federal government, student activist Mahmoud Khalil, filed a landmark civil rights suit alleging that the government conspired with a number of private groups – including the Heritage Foundation, Betar, and Canary Mission – to “suppress criticism of Israel through a coordinated campaign to dox, jail and ultimately deport student activists.” According to the lawsuit, said activists were “nearly automatically targeted by the Federal Defendants for arrest and removal.” Khalil's lawyers argue that this “public-private partnership” could violate the “Ku Klux Klan Act, a Reconstruction-era law that sought to restrict government coordination with vigilante groups.” The suit is led by the Center for Constitutional Rights. The AP reports “Soon after his arrest, both Canary Mission and Betar boasted of their role in flagging Khalil's noncitizen status to the government.” Since Khalil's arrest, Betar has agreed to “dissolve its nonprofit status,” following a lawsuit filed by New York Attorney General Letitia James accusing Betar's members of harassing Palestinians.* Turning to the state level, this week 12 state attorneys general, led by California's Rob Bonta, filed an antitrust lawsuit seeking to block the acquisition of Warner Bros. Discovery by Paramount Skydance, controlled by the Trump-aligned David Ellison. The proposed, $110 billion merger was approved by the Antitrust Division of the Justice Department last month, which reached the dubious conclusion that the merger is “not likely to result in harm to competition or American consumers.” In the filing, Bonta and the state AGs for Arizona, Colorado, Connecticut, Massachusetts, Minnesota, Nevada, New Jersey, New Mexico, New York, Oregon, and Washington allege that the merger “would extinguish competition between Paramount and Warner Bros. and inflict substantial harm on movie theatres, basic cable distributors, and, ultimately, audiences nationwide.” This from Reason.* In the world of philanthropy, CNBC reports Warren Buffett, the billionaire chairman of Berkshire Hathaway, has “excluded the Gates Foundation from his sizable annual charitable donations.” As this report notes, the Gates Foundation has been among the top recipients of his annual Berkshire donations, totaling $47 billion worth of Berkshire stock since 2006. The reason for the exclusion of the Gates Foundation has been much speculated upon, in particular, whether it was due to the recent revelations about Gates' relationship with Jeffrey Epstein. Asked about this, Buffett said that he had “read a great deal…in terms of what happened, with Bill and Epstein,” calling their relationship “distasteful,” but also saying that he “found nothing in there that was beyond what [he] could picture [himself] doing.” Instead of the Gates Foundation, all of this year's donations will go to foundations linked to the Buffett family.* Finally, British multinational diamond conglomerate De Beers, famous for coining the “A Diamond is Forever” tagline in 1947, reported this week that they plan to halt work at their “flagship” Venetia mine in South Africa as demand for the stones wanes. The BBC highlights both slackening consumer demand as well as competition from lab-grown diamonds, particularly those produced in China. That said, the closing of the Venetia mine – the biggest in South Africa, accounting for over 40% of the country's diamond production – will send shockwaves through that country's already shaky economy. That mine alone employs more than 4,000 people, while the mining sector employs nearly half a million. De Beers said they plan to reopen the mine in two years; in the meantime, they are looking to expand copper mining to keep up with demand from AI data centers.This has been Francesco DeSantis, with In Case You Haven't Heard. Get full access to Ralph Nader Radio Hour at www.ralphnaderradiohour.com/subscribe

Investing Guide: https://clickhubspot.com/epkr Episode 841: Sam Parr ( https://x.com/theSamParr ) and Shaan Puri ( https://x.com/ShaanVP ) talk to legendary investor Howard Marks about AI and making decisions in the face of fear and uncertainty.  — Show Notes: (0:00) AI Hurtles Ahead (8:26) second level thinking (10:21) investing through the end of the world (14:47) raising $11B at a time of crisis (17:54) investing with fear (20:22) the key to a successful partnership (25:01) being a good father (27:37) only 1 success: to live your life your way (34:17) Having lunch with Warren Buffett (37:18) What people don't know about Buffett (39:37) cigar butt investing (41:35) recommended reading — Links: • AI Hurtles Ahead - https://www.oaktreecapital.com/insights/memo/ai-hurtles-ahead  • A Short History of Financial Euphoria - https://www.amazon.com/History-Financial-Euphoria-Penguin-Business/dp/0140238565  • Fooled by Randomness - https://www.amazon.com/Fooled-Randomness-Hidden-Markets-Incerto/dp/0812975219  — Check Out Sam's Stuff: • Hampton (joinhampton.com): My community for founders. Average member does $25m/year. Many of the guests are members. Get after it...apply: http://joinhampton.com/mfm — Check Out Shaan's Stuff: • Shaan's weekly email - https://www.shaanpuri.com  • Visit https://www.somewhere.com/mfm to hire worldwide talent like Shaan and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than US equivalents. • Mercury - Shaan uses Mercury for banking across all of his companies. you can too: http://mercury.com/  Mercury is a fintech company, not an FDIC-insured bank. Banking services provided by Choice Financial Group, Column, N.A., and Evolve Bank & Trust, Members FDIC • I run all my newsletters on Beehiiv and you should too + we're giving away $10k to our favorite newsletter, check it out: beehiiv.com/mfm-challenge My First Million is a HubSpot Original Podcast // Brought to you by HubSpot Media // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano /