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This Week in Startups is brought to you by… Gusto. Get three months free when you run your first payroll at http://gusto.com/twist Oracle. TWiST listeners can try OCI and save up to 50% on your cloud bill at https://www.oracle.com/twist Horatio. Visit https://www.hirehoratio.com/twist and get $2,000 off your initial set up. Today's show: Jason and Alex cover Palantir's surge (is it all hype?), Temo and Shein and the de minimise loop hole, Uber's earnings and the future of self-driving technology and much more! Timestamps: (0:00) Episode Teaser (1:38) New studio space and remote work productivity challenges (4:02) "Severance" vs. "Landman" - TV shows comparison (7:07) Palantir's valuation, financial performance, and stock analysis (9:49) Gusto. Get three months free when you run your first payroll at http://gusto.com/twist (11:27) Alex Karp talks up Palantir to investors (14:36) Price-sales ratio: Palantir vs. Nvidia and founder advice (19:33) Oracle. TWiST listeners can try OCI and save up to 50% on your cloud bill at https://www.oracle.com/twist (21:46) Temu, Shein, and the de minimis loophole in trade (30:06) Horatio. Visit https://www.hirehoratio.com/twist and get $2,000 off your initial set up. (31:34) Uber's earnings, market performance, and self-driving technology future (38:33) Waymo's growth and the commodification of self-driving tech (44:11) Market dominance, platform switching, and competition mental models (47:18) Kalshi, Robinhood, prediction markets, and regulatory challenges (52:17) BYD's self-parking technology and the future of self-driving cars (56:43) Final thoughts and request for startup growth data Subscribe to the TWiST500 newsletter: https://ticker.thisweekinstartups.com Check out the TWIST500: https://www.twist500.com Subscribe to This Week in Startups on Apple: https://rb.gy/v19fcp Follow Alex: X: https://x.com/alex LinkedIn: https://www.linkedin.com/in/alexwilhelm Follow Jason: X: https://twitter.com/Jason LinkedIn: https://www.linkedin.com/in/jasoncalacanis Thank you to our partners: (9:49) Gusto. Get three months free when you run your first payroll at http://gusto.com/twist (19:33) Oracle. TWiST listeners can try OCI and save up to 50% on your cloud bill at https://www.oracle.com/twist (30:06) Horatio. Visit https://www.hirehoratio.com/twist and get $2,000 off your initial set up. Great TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland Check out Jason's suite of newsletters: https://substack.com/@calacanis Follow TWiST: Twitter: https://twitter.com/TWiStartups YouTube: https://www.youtube.com/thisweekin Instagram: https://www.instagram.com/thisweekinstartups TikTok: https://www.tiktok.com/@thisweekinstartups Substack: https://twistartups.substack.com Subscribe to the Founder University Podcast: https://www.youtube.com/@founderuniversity1916
The real estate market is shifting, and those who adapt will find the best opportunities. In this episode, expert investor J Scott breaks down what 2025 has in store for multifamily investing, the impact of interest rates, and how to assess market trends for smart decision-making. Whether you're a seasoned investor or just getting started, J Scott shares the risk management strategies you need to navigate uncertainty and build lasting passive income.If you want to stay ahead of the market, this episode is for you.Top three things you will learn: -Where the market is headed-How to identify profitable deals-Risk vs. reward in investingAbout Our Guest:J Scott spent much of his early career in Silicon Valley, where he held management positions at several Fortune 500 companies, including Microsoft and eBay. In 2008, J quit his corporate job, started a family, and focused on real estate investing. In the past ten years, he has bought, built, rehabbed, sold, lent on, and held over $60M in property nationwide. J is also the co-host of The BiggerPockets Business Podcast and the author of four books on real estate investing, which have sold more than 300,000 copies combined and have helped investors worldwide get started with real estate.Connect with J Scott:-Linktree - https://linktr.ee/jscottinvestorFree IBCA or Financial Freedom Discovery Calls:-https://wealthwithoutwallstreet.com/freecallThe Art of Passive Income Podcast:-https://www.youtube.com/playlist?list=PLgqpzGRlkzzF9aYUSs96e5GQmL6hRzg6TBook: The Hands-Off Investor By Brian Burke:-https://store.biggerpockets.com/products/the-hands-off-investor?srsltid=AfmBOooHdgHv-58NZUPfhVMRtEuIm4HXCWYo0llIGw80bXOLQAd_rtakTurn Active Income Into Passive Income:-https://wealthwithoutwallstreet.com/piosWealth Without Wall Street New Book:-https://wealthwithoutwallstreet.com/newbookJoin Our Next Inner Circle Live Event:-https://www.wealthwithoutwallstreet.com/live-Promo Code: PODCASTIBC Webinar:-https://wealthwithoutwallstreet.com/ibcApply to Join the Passive Income Mastermind:-https://wealthwithoutwallstreet.com/wwws-passive-income-mastermindJoin the Community:-https://wealthwithoutwallstreet.com/communityTake the Financial Freedom Analyzer:-
Ed Butler travels to Kantamanto market in Accra, Ghana. 15 million used garments arrive in Ghana every week from all over the world - most ends up at Kantamanto but a lot can't be sold because it's in poor condition. That ends up as landfill. Just weeks after Ed's visit, a disastrous fire raised it to the ground, so he's been back in touch with some of the vendors he spoke to as they try and get the market, and their livelihoods, up and running again. Produced and presented by Ed Butler
The global energy storage market is skyrocketing, with battery capacity more than doubling year over year. With over 60 gigawatts of storage installed worldwide, the sector is poised for even more rapid expansion. In this special roundup episode, we look back at some of the top episodes on SunCast discussing key trends, policies, and technologies shaping the future of energy storage. We break down the domestic manufacturing boom, how the Inflation Reduction Act (IRA) is driving investment, and the hurdles of scaling storage safely and efficiently. Plus, we discuss cell-to-grid strategies and a revolutionary non-battery approach to energy storage.Our experts for this Energy Storage deep dive are: Joan White (SEIA) , Andy Tang (Wärtsilä), Adam Knudsen (Dynapower), Drew Lebowitz & Swetha Sundaram (The BESS Book), and Robert Piconi (Energy Vault)Expect to learn:How the U.S. is ramping up battery manufacturing—new factories, policy incentives, and projected supply timelines.Key challenges in scaling storage—from supply chain constraints to fire safety and grid integration.Why DC-coupled storage is gaining momentum—cutting conversion losses and improving economics.Where to get expert BESS training—including a must-read industry book.The rise of alternative storage technologies, such as gravity batteriesWhat most excites you about energy storage right now? Who should we have on the show next?Let us know podcast@suncast.me If you want to connect with today's guest, you'll find links to his contact info in the show notes on the blog at https://mysuncast.com/suncast-episodes/.Our Platinum Presenting Sponsor for SunCast is CPS America!SunCast is proudly supported by Trina Solar.You can learn more about all the sponsors who help make this show free for you at www.mysuncast.com/sponsors.Remember, you can always find resources, learn more about today's guest and explore recommendations, book links, and more than 730 other founder stories and startup advice at www.mysuncast.com.Subscribe to Valence, our weekly LinkedIn Newsletter, and learn the elements of compelling storytelling: https://www.linkedin.com/newsletters/valence-content-that-connects-7145928995363049472/You can connect with me, Nico Johnson, on:Twitter - https://www.twitter.com/nicomeoLinkedIn - https://www.linkedin.com/in/nickalusMentioned in this episode:CPS July 2024 V2
TSN Hockey Insider Darren Dreger joined OverDrive to discuss the headlines around the NHL, William Nylander's goal scoring skills, Mitch Marner's contract outlook and the possible value of his deal, the players on the market, Dylan Cozens' trade buzz in Buffalo with the Sabres and more.
Welcome to Nerd Alert, a series of special episodes bridging the gap between marketing academia and practitioners. We're breaking down highly involved, complex research into plain language and takeaways any marketer can use.In this episode, Elena and Rob explore what drives ROI for Super Bowl advertisers by examining six years of sales data across nearly 200 media markets. They reveal why some brands see significant returns while others struggle to justify the investment.Topics covered: [01:00] "Super Bowl Ads"[03:00] Top advertising categories during the big game[05:00] How viewership impacts beer and soda sales[06:00] The importance of owning consumption occasions[07:00] Why competing ads can cancel each other out[08:00] Building brand associations beyond sales lift To learn more, visit marketingarchitects.com/podcast or subscribe to our newsletter at marketingarchitects.com/newsletter. Resources: Hartmann, W. R., & Klapper, D. (2016). Super Bowl Ads. SSRN. https://doi.org/10.2139/ssrn.2385058 Get more research-backed marketing strategies by subscribing to The Marketing Architects on Apple Podcasts, Spotify, or wherever you listen to podcasts.
Our Global Head of Fixed Income Research & Public Policy Strategy Michael Zezas discusses the potential economic outcomes of a shifting North American trade policy.----- Transcript -----Welcome to Thoughts on the Market. I'm Michael Zezas, Morgan Stanley's Global Head of Fixed Income Research and Public Policy Strategy. Today – the latest on tariffs and potential outcomes of a shifting North American trade policy. It's Wednesday, February 5, at 10am in New York. In a series of last-minute phone calls on Monday, President Trump reached a deal with Mexican President Claudia Sheinbaum and Canadian Prime Minister Justin Trudeau. President Trump agreed to delay the announced 25 percent tariffs on Mexico and Canada for a month – citing their intention to do more on their borders against migration and drug trafficking. But President Trump's 10 percent tariffs on all Chinese products went into effect yesterday morning. China responded promptly with its own countermeasures, which are not expected to take effect until Monday, February 10, leaving room for potential negotiations. These developments don't come as a surprise. We had been assuming – one – that Canada and Mexico could avoid tariffs by making border concessions, which they did. And – two – that the US would craft a tariff policy related to China independent from its considerations around Mexico and Canada. If the underlying goal is to transform its trade relationship with China, then the US has an interest in preserving an alignment with Canada and Mexico. Given all of that, our base case of “fast announcements, slow implementation” looks intact. We expect tariffs on China and some products from Europe to ramp up through the end of the year, putting downward pressure on economic growth into 2026. If tariffs on Mexico and Canada are avoided or delayed further, there would be no change to our broader economic outlook. The U.S. dollar could weaken as it prices out some tariff risk. Within U.S. equities, consumer discretionary as well as broader cyclical stocks could lead. If, however, we're wrong and tariffs do go up on Mexico and Canada after this one-month pause, then we expect some rise in inflation, growth to slow, and the U.S. dollar and Treasuries to outperform equities; at least for a time as the U.S. gets to work rewiring its global trade relationships. Tariffs are likely to dominate news headlines in the days and months to come. We'll keep tracking the topic and bring you updates. Thanks for listening. If you enjoy the show, please leave us a review wherever you listen and share Thoughts on the Market with a friend or colleague today.
The Rebel Capitalist helps YOU learn more about Macro, Investing, Entrepreneurship AND Personal Freedom.✅ Come to Rebel Capitalist Live here https://rebelcapitalistlive.com/ ✅Check out my private, online investment community (Rebel Capitalist Pro) with Chris MacIntosh, Lyn Alden and many more for $1!! click here https://georgegammon.com/pro ✅Rebel capitalist merchandise https://www.rebelcapitaliststore.com
Major political and economic shifts are happening at an unprecedented pace. In this episode, we dissect the latest executive orders, policy changes, and market movements that are shaping the future of America. Key Discussion Points: Trump's Rapid Executive Actions: What policies have already changed, and what's next? Massive Tariff Wars: How the U.S. tariffs on Canada, Mexico, and China could impact trade, inflation, and your wallet. Stock Market & Economic Outlook: Are we heading toward a bull market or a recession? Border Security & Immigration: The 93% drop in illegal crossings and how policy shifts are affecting national security. USAID & Government Spending Cuts: Where has taxpayer money been going, and why are certain programs being eliminated? The Federal Reserve's Next Moves: Interest rates, inflation, and what it means for real estate, business, and investors. The Future of Wealth Building: Why the rich allocate assets differently and how the middle class can leverage real estate and equities to grow wealth. This is a must-listen for investors, business owners, and anyone who wants to understand how these policies will affect the economy, the stock market, and personal finances. Episode Sponsored By: Discover Financial Millionaire Mindcast Shop: Buy the Rich Life Planner and Get the Wealth-Building Bundle for FREE! Visit: https://shop.millionairemindcast.com/ CRE MASTERMIND: Visit myfirst50k.com and submit your application to join!
Big box implant centers are everywhere, but there ARE ways to stand out. Dr. Ryan Bradley and Dr. Taher Dhoon know firsthand how tough it is to transition into full-arch dentistry — from figuring out marketing to attracting qualified patients who can pay. In this episode, they unpack marketing, consultation, and financing strategies that will help you compete with big implant centers. Tune in for the advice you need to grow your practice and win more full arch cases!Topics discussed in this episode:The struggle to transition into a full arch practiceHow to compete with big implant centersMarketing dos and don'tsFinancing solutions for patientsLearn more about Colorado Surgical Institute:https://www.coloradosurgicalinstitute.com/Text us your feedback! (please note: we cannot respond through this channel)) Take Control of Your Practice and Your Life I help dentists create thriving practices that make more money, require less of their time, and empower their teams to run the office seamlessly—so they can focus on what matters most. Join the DPH Hero Collective and get the tools, training, and support you need to transform your practice: Comprehensive Training: Boost profit, efficiency, and team engagement. Live Monthly Webinars: Learn proven strategies for scaling your practice. Live Q&A Sessions: Get personalized help when you need it most. Supportive Community: Connect with practice owners on the same journey. Editable Systems & Protocols: Standardize your operations effortlessly. Ready to build a practice that works for you? Visit www.DPHPod.com to learn more.
Want to work directly with me to close more deals? Go Here: https://www.titaniumu.comWant the Closerâs Formula sales process Iâve used to close 2,000+ deals (FREE) Go Here: https://www.kingclosersformula.com/closeIf youâre new to my channel my name is RJ Bates III. Myself and my partner Cassi DeHaas are the founders of Titanium Investments.We are nationwide virtual wholesalers and on this channel we share EVERYTHING that we do inside our business. So if youâre looking to close more deals - at higher assignments - anywhere in the country⦠Youâre in the right place.Who is Titanium Investments and What Have We Accomplished?Over 10 years in the real estate investing businessClosed deals in all 50 statesâOwned rentals in 12 statesâFlipped houses in 11 statesâClosed on over 2,000 propertiesâ125 contracts in 50 days (all live on YouTube)âBack to back Closers Olympics ChampionTrained thousands of wholesalers to close more deals_________________________________With over 2,000 Videos, this is the #1 channel on YouTube for all things Virtual Wholesaling. SUBSCRIBE NOW! https://www.youtube.com/@RJBatesIII_________________________________RESOURCES FOR YOU:If you want my team and I to walk you through how to build or scale your virtual wholesaling business from A to Z, click here to learn more about Titanium University: https://www.titaniumu.com(FREE) If you want to learn how to close deals just like me, The King Closer, then download the free King Closer Formula PDF: https://www.kingclosersformula.com/close(FREE) Join our exclusive FB group community for real estate investors and wholesalers: https://www.facebook.com/groups/titaniumvault/(FREE) Click here to grab our Titanium fleet free PDF & training: Our battle tested strategies and tools that we actually use⦠and are proven to work: https://www.kingclosersformula.com/fleetGrab the King Closer Blueprint: My Step by Step Sales Process for closing over 2,000 deals (Only $37): https://www.kingclosersformula.com/kcblueprintGrab Titanium Profits: Our exact system we use to comp and underwrite deals in only 4 minutes. (Only $99) https://www.kingclosersformula.com/titaniumprofitsWant to know what the best markets to wholesale in are? Grab my breakdown of all 50 states here: https://www.titaniumu.com/marketsSupport the show
CryptoBroSho Ep: 44 2/4/25 Tuesday
This weeks episode of the Cash Flow Academy podcast, Andy Tanner, Corey Halliday, and Noah Davidson analyze the healthcare sector's investment potential following the assassination of United Healthcare's CEO. They examine the immediate stock market impact, including a 10% drop in United Healthcare's stock and a 2-3% decline across the broader sector. The conversation dives into systemic issues such as claim denials and delays, evaluating whether these challenges present investment opportunities. The hosts also break down key valuation metrics like price-to-book and price-to-earnings ratios, providing insights for investors navigating a turbulent healthcare market.
Alicia joins Omar to break down the 2025 real estate market. In this episode, we dive into the latest stats, trends, and how the next presidential term could shape Miami's real estate landscape. From shifting demand across neighborhoods to the ongoing recovery post-disruption, we cover the latest real estate headlines. Get the inside scoop on key developments and what buyers, sellers, and investors need to know about Miami's future market. Host: Omar De Windt Guest: Alicia Cervera Lamadrid Producer: Veronica Paris
Andrew and Ben discuss Trump's proposal to take over Gaza and tech earnings. For information on how to join the Zoom calls live each morning at 8:30 EST, visit:https://www.narwhal.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhal.com/disclosure
Highlights from their conversation include:Zach's Journey into Freight (1:00)Transition to Data in Freight (3:15)Understanding Data's Value (5:21)Current State of the Freight Market (6:29)Tender Rejections and Market Indicators (8:38)Predictions for 2025 (9:38)Historical Context of Supply Chain Stability (11:46)Freight Recessions Explained (13:04)Duration of Recessions (16:43)Indicators of Freight Recessions (19:00)Current Trends in Intermodal Growth (22:06)LTL Market Trends (25:16)This or That Segment (28:48)Final Thoughts and Takeaways (31:23)Dynamo is a VC firm led by supply chain and mobility specialists that focus on seed-stage, enterprise startups.Find out more at: https://www.dynamo.vc/
BUILD A BETTER BUSINESS | Helping sellers understand the market goes beyond just statistics; it's about telling a story that guides them toward the right decisions. Angela and Dylan walk through how to conduct, interpret, and communicate a market absorption analysis to set clear expectations, offer valuable insights, and help clients make informed choices and set a competitive pricing strategy. Access our market absorption analysis resources here. Speakers: Dylan de Bruin, Broker/Owner Angela Fisher, Agent Development Director Subscribe to the More Than More Podcast for new weekly episodes as we discuss building meaningful and impactful businesses, careers, and lives through real estate. Apple Podcasts Spotify YouTube
On today's episode, Editor in Chief Sarah Wheeler talks with Lead Analyst Logan Mohtashami about the market's response to tariffs and trade war headlines. Related to this episode: Mortgage rates remain flat despite tariff drama | HousingWire HousingWire | YouTube More info about HousingWire Enjoy the episode! The HousingWire Daily podcast brings the full picture of the most compelling stories in the housing market reported across HousingWire. Each morning, listen to editor in chief Sarah Wheeler talk to leading industry voices and get a deeper look behind the scenes of the top mortgage and real estate stories. Hosted and produced by the HousingWire Content Studio. Learn more about your ad choices. Visit megaphone.fm/adchoices
Life Coach Business Building Podcast, The Business Building Boutique
Is it possible to sell your coaching WITHOUT social media?The answer is a resounding YES! In this episode, I dive into the often-overlooked strategies for marketing your coaching business beyond Instagram, Facebook, LinkedIn, and TikTok. While social media can be a powerful tool, the reality is that these platforms are borrowed spaces—we don't own them, and if they disappeared tomorrow, so would our audience. That's why it's essential to build a marketing strategy that stands the test of time. I'll share practical ways to attract clients offline, from leveraging speaking opportunities to growing through referrals and word-of-mouth. These are the same strategies that helped me bring in clients long before social media or even Google existed, and they're just as effective today. So whether you're an introvert, new to coaching, or simply looking for alternative ways to market your business, this episode will give you fresh inspiration and actionable steps. Tune in now and start building a coaching business that thrives—social media or not!
On this episode of Banking on KC, John Friend, owner of Farm to Market Bread Company, joins host Kelly Scanlon to discuss how his family's dedication to quality and community has helped their business grow into a Kansas City icon while expanding its reach across the Midwest. Tune in to discover:How Farm to Market Bread Company's founders pioneered the artisan bread movement in Kansas City.The company's principles of quality, sustainability and community support.The transition to freezer technology and its impact on business growth.Country Club Bank – Member FDIC
ill communication: copywriting tips & sales strategies for small businesses
Is the secret to growing your business actually going back to basics?With AI tools, algorithm changes, and skeptical consumers, keeping up with online business trends can feel exhausting. But what if the real key to success isn't about chasing the latest hacks—but instead, focusing on timeless, proven business foundations? In this episode, I'm sharing my personal experience with B-School, Marie Forleo's renowned online business and marketing program, and why it was one of the best investments I ever made. I'll walk you through the strategies that helped me build a thriving, flexible business and why getting back to marketing fundamentals—like email, content, and real human connection—can help you stand out in today's unpredictable landscape.If you're a Gen X woman looking for structure, clarity, and a supportive community to help you grow your business, this episode is for you. Plus, I'm revealing the exclusive bonuses I've created to help you implement what you learn and build a business that fits your lifestyle. Ready to find out if B-School is right for you? Hit play now!Topics We Cover in This Episode: Why “old-school” marketing strategies are making a major comebackThe biggest mistake I made before joining B-School—and how you can avoid itWhat makes B-School different from free business advice onlineThe one thing that will help you gain traction faster than anything elseGet your business and marketing fundamentals dialed in. To register for the free Business Bootcamp and find out about my bonus suite for Gen X business owners, visit kimkiel.com/bschool.Show notes are always available at https://www.kimkiel.com/podcast!!Resources Mentioned:Find out more about the bootcamp, B-School and the EXTRA SPECIAL ways I'll support you as you go through the program: www.kimkiel.com/bschoolEpisode 26: The X Factor - Why Gen X women are an untapped market: https://www.kimkiel.com/podcast-1/the-x-factor-why-gen-x-women-are-an-untapped-marketEpisode 27: 5 things I wish I knew before I started a small business: https://www.kimkiel.com/podcast-1/reality-bites-5-things-i-wish-i-knew-before-starting-my-business-as-a-gen-xerEpisode 128 - 7 Marketing and copywriting trends to boost sales in 2025: https://www.kimkiel.com/podcast-1/7-marketing-and-copywriting-trends-to-boost-sales-in-2025 I would love to connect on Facebook: www.facebook.com/KimKielCopy, Instagram: www.instagram.com/kim_kiel_copy, and Linkedin: www.linkedin.com/in/kimkielText me a question or comment!
Why do so many network marketers quit too soon? In this training, I reveal how to develop staying power—the ability to push through challenges and see your business through to success. You'll learn: The truth behind overnight success myths How to stay committed during the tough times Why small daily wins lead to long-term breakthroughs How to conquer self-doubt with a free mindset resource
Join our Mailing List - https://www.mapitforward.coffee/mailinglistIntroduction to Regenerative Coffee Farming is now Available On-Demand at https://ondemand.mapitforward.coffee for as little as $10. Why not grab a gift card for your team, suppliers or favorite coffee human******************************Welcome to the 3rd episode of a five-part series on The Daily Coffee Pro by Map It Forward Podcast, hosted by Map It Forward founder, Lee Safar.Our guests on the podcast in this series are Felipe Croce from FAF Coffees in Brazil and Angel Barrera from Belco based in Colombia.In this series, we will explore the year ahead in what is expected to be, the most volatile year in coffee we have ever experienced in the history of the coffee industry.The 5 episodes in this series are:1. 2024, The Precursor for Changing In Coffee - https://youtu.be/kZUYCrbtBiU2. What's Driving Coffee Market Volatility? - https://youtu.be/OO321G0MC043. The Reality of The Coffee Market in 2025 - https://youtu.be/oZcJw7DHK684. Who's Winning and Suffering In Coffee? - https://youtu.be/dBzu7lrAvog5. 2025: The Year Ahead In Coffee - https://youtu.be/4DiOZjOpZC4In this episode of The Daily Coffee Pro by Map It Forward, host Lee Safar dives deep into the intricacies of the current coffee crisis with guests Felipe and Angel. They discuss the volatile market prices, the global coffee production outlook, and the various agendas influencing market reports. The conversation also covers the importance of raising coffee prices amidst rising costs and the impact of the regenerative coffee farming workshops. Additionally, they touch on Starbucks' predatory pricing strategy and the challenges specialty coffee professionals face in adapting to a commoditized market. Join us for a comprehensive look at what's shaping the coffee industry today!00:00 The Global Coffee Price Crisis00:50 Introduction to Regenerative Coffee Farming Workshops02:11 Current Coffee Market Realities05:55 Market Reports and Agendas13:35 Specialty Coffee and Commoditization26:58 Starbucks and Market Manipulation34:53 Conclusion and Next Episode Preview Connect with Angel and Belco here:https://www.belco.fr/https://www.linkedin.com/in/angel-barrera-8a0b2236/https://www.instagram.com/koliafobiano/https://www.instagram.com/belco.coffee/Connect with Felipe and FAF here:https://www.instagram.com/felipecroce/https://www.instagram.com/fafcoffees/https://fafbrazil.com/••••••••••••••••••••••••••••••••
Join economist Dr. Orphe Divounguy and Chris Krug as they discuss DeepSeek's impact on the stock market on this episode of Everyday Economics! Everyday Economics is an unrehearsed, free-flow discussion of the economic news shaping the day. The thoughts expressed by the hosts are theirs, unedited, and not necessarily the views of their respective organizations. Support this podcast: https://secure.anedot.com/franklin-news-foundation/ce052532-b1e4-41c4-945c-d7ce2f52c38a?source_code=xxxxxx
Interview recorded - 24th of January, 2025On this episode of the WTFinance podcast I had the pleasure of welcoming back Simon Hunt.During our conversation we spoke about his thoughts on the markets, the geopolitical challenges, BRICS alliance, US allies becoming weaker, proxy wars, gold and more. I hope you enjoy!0:00 - Introduction1:30 - Thoughts on markets?2:51 - Geopolitical challenges?17:05 - Split the BRICS alliance?20:58 - US allies becoming weaker?23:45 - Proxy wars25:49 - Geopolitical risks of markets?27:00 - What impact on other assets?28:30 - Gold30:40 - One message to takeaway?Simon Hunt began his career in 1956 in Central Africa as a PA to the Chairman of Rhodesian Selection Trust, one of the two large copper companies in what was then Northern Rhodesia, now Zambia.In 1961 he came back to London and joined Anglo American Corporation of South Africa as a PA to one of the Board Directors, followed by being part of a small sales and marketing team for copper. From there, he helped start up a new copper development organisation, CIDEC, financed by copper producers, which he then joined, focusing on conducting end-use studies of copper in Europe.He then went into the City to gain financial experience and founded Brook Hunt in 1975. He was instrumental in setting up the company's cost studies and end-use analyses. He appeared as material witness and consultant in two ITC anti-dumping cases in 1978 and 1984, winning both at the commission level.He has spent 2-4 months every year in China since 1993 and until a few years ago would be visiting some 80 wire and cable and brass mill factories across the country every year. He now restricts these factory visits to a smaller number, all of which he has known for many years. He also spends many weeks each year traveling around Asia.The focus of the company's services is on the global economy, including the changing geopolitical and financial structures, China's economy and its copper sector, and then the global copper industry as each part is interconnected.Simon is the author of the “Frontline China Report Service,” which is marketed by the TIS Group. The Service provides regular reports on China's economy, politics, and financial outlook.Simon established this company in January 1996.Simon Hunt -Website - https://www.simon-hunt.com/Email - simon@shss.comWTFinance -Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfniTunes -https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4LinkedIn - https://www.linkedin.com/in/anthony-fatseas-761066103/Twitter - https://twitter.com/AnthonyFatseas
Craig Shapiro, esteemed hedge fund expert and macro strategist for the Bear Traps Report, joins us for a compelling exploration of the intricate world of Federal Reserve policies and their interplay with artificial intelligence. Unravel the complexities of recent monetary decisions amidst a politically charged atmosphere, as we dissect the impacts on bond markets and business confidence. With inflationary pressures mounting, Craig offers his insightful take on the potential consequences and future directions of Fed policies in a landscape fraught with uncertainty.The conversation takes a strategic turn as we navigate the global investment scene, spotlighting the surge of interest in zero data expiry options for indices like the S&P and NASDAQ. Discover how traditional hedges are reshaping investor tactics amid macroeconomic unpredictability and why equity volatility might be underappreciated right now. From the allure of gold as a fiscal hedge to the implications of geopolitical turbulence on treasury investments, we examine scenarios that could catalyze another S&P surge and evaluate the economic ripple effects of potential Trump policy maneuvers.Our dialogue rounds off by examining Bitcoin's burgeoning role as an alternative store of value amidst global instability. Compare its potential with that of gold and real estate, and consider the geopolitical ramifications of nations folding Bitcoin into their reserves. With deregulation under Trump's lens and opportunities for small-cap growth amidst rising borrowing costs, we reflect on the US's evolving role in a multilateral world. Craig highlights the enduring value of balancing qualitative insights with quantitative data, emphasizing relationship-building within the financial sector. Don't miss Craig's seasoned insights and practical reflections on today's pressing economic issues.The content in this program is for informational purposes only. You should not construe any information or other material as investment, financial, tax, or other advice. The views expressed by the participants are solely their own. A participant may have taken or recommended any investment position discussed, but may close such position or alter its recommendation at any time without notice. Nothing contained in this program constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments in any jurisdiction. Please consult your own investment or financial advisor for advice related to all investment decisions. Sign up to The Lead-Lag Report on Substack and get 30% off the annual subscription today by visiting http://theleadlag.report/leadlaglive. Foodies unite…with HowUdish!It's social media with a secret sauce: FOOD! The world's first network for food enthusiasts. HowUdish connects foodies across the world!Share kitchen tips and recipe hacks. Discover hidden gem food joints and street food. Find foodies like you, connect, chat and organize meet-ups!HowUdish makes it simple to connect through food anywhere in the world.So, how do YOU dish? Download HowUdish on the Apple App Store today:
For more, check out The Profit Circle: patreon.com/theprofitcircle
From Wall Street to Main Street, the latest on the markets and what it means for your money. Updated regularly on weekdays, featuring CNBC expert analysis and sound from top business newsmakers. Anchored by CNBC's Jessica Ettinger.
From Wall Street to Main Street, the latest on the markets and what it means for your money. Updated regularly on weekdays, featuring CNBC expert analysis and sound from top business newsmakers. Anchored by CNBC's Jessica Ettinger.
Join our Mailing List - https://www.mapitforward.coffee/mailinglistIntroduction to Regenerative Coffee Farming is now Available On-Demand at https://ondemand.mapitforward.coffee for as little as $10. Why not grab a gift card for your team, suppliers or favorite coffee human******************************Welcome to the 3rd episode of a five-part series on The Daily Coffee Pro by Map It Forward Podcast, hosted by Map It Forward founder, Lee Safar.Our guests on the podcast in this series are Felipe Croce from FAF Coffees in Brazil and Angel Barrera from Belco based in Colombia.In this series, we will explore the year ahead in what is expected to be, the most volatile year in coffee we have ever experienced in the history of the coffee industry.The 5 episodes in this series are:1. 2024, The Precursor for Changing In Coffee - https://youtu.be/kZUYCrbtBiU2. What's Driving Coffee Market Volatility? - https://youtu.be/OO321G0MC043. The Reality of The Coffee Market in 2025 - https://youtu.be/oZcJw7DHK684. Who's Winning and Suffering In Coffee? - https://youtu.be/dBzu7lrAvog5. 2025: The Year Ahead In Coffee - https://youtu.be/4DiOZjOpZC4In this episode of The Daily Coffee Pro by Map It Forward, host Lee Safar dives deep into the intricacies of the current coffee crisis with guests Felipe and Angel. They discuss the volatile market prices, the global coffee production outlook, and the various agendas influencing market reports. The conversation also covers the importance of raising coffee prices amidst rising costs and the impact of the regenerative coffee farming workshops. Additionally, they touch on Starbucks' predatory pricing strategy and the challenges specialty coffee professionals face in adapting to a commoditized market. Join us for a comprehensive look at what's shaping the coffee industry today!00:00 The Global Coffee Price Crisis00:50 Introduction to Regenerative Coffee Farming Workshops02:11 Current Coffee Market Realities05:55 Market Reports and Agendas13:35 Specialty Coffee and Commoditization26:58 Starbucks and Market Manipulation34:53 Conclusion and Next Episode Preview Connect with Angel and Belco here:https://www.belco.fr/https://www.linkedin.com/in/angel-barrera-8a0b2236/https://www.instagram.com/koliafobiano/https://www.instagram.com/belco.coffee/Connect with Felipe and FAF here:https://www.instagram.com/felipecroce/https://www.instagram.com/fafcoffees/https://fafbrazil.com/••••••••••••••••••••••••••••••••Support this podcast by supporting our Patreon:https://bit.ly/MIFPatreonThe Daily Coffee Pro by Map It Forward Podcast Host: Lee Safarhttps://www.mapitforward.coffeehttps://www.instagram.com/mapitforward.coffeehttps://www.instagram.com/leesafar••••••••••••••••••••••••••••••••
In hour 1 of The Mark Reardon Show, Mark discusses President Trump's latest conference on pressing Iran. Mark is then joined by Brianna Lyman with The Federalist. She discusses her latest piece titled, "Team Trump is winning the Media Battle by Treating Left-Wing Press as the Propagandists They Are". He is then joined by Christian Toto, the host of the Hollywood in Toto Podcast. They discuss what to know about the Blake Lively/Justin Baldoni trial. In hour 2, Sue hosts, "Sue's News" where she discusses the trending entertainment news, this day in history, the random fact of the day, and more. Mark is then joined by Dave Simons, the host of the KMOX Dollars and Sense show and partner and the managing director at One Private Health. They discuss the potential impact of tariffs on the stock market. He then dives into USAID and what exactly they're funding. In hour 3, Mark is joined by Jennifer Sey, the founder and CEO of XX-XY Athletics, a USA Champion Gymnast, and a producer of the 2020 Emmy award winning documentary, "Athlete A". Her company has a new ad, "Real Girls Rock" airing now. Mark is then joined by Jeff Rainford, with Rainford and Associates and a Former Chief of Staff to Mayor Slay. They discuss new polling that shows St Louis Mayor Tishaura Jones in trouble in her re-election bid. They wrap up the show with the Audio Cut of the Day.
APAC stocks traded mixed with the region only partially sustaining the positive momentum from the US, as Chinese markets reopened from the Spring Festival and participants digested disappointing China Caixin Services PMI data.US President Trump said he will speak to Chinese President Xi at the appropriate time and is in no rush, while he responded 'that's fine' when asked about China's retaliatory tariffs.EU prepares to target US big tech if US President Trump pursues tariffs against the EU, according to FT.US equity futures were subdued with sentiment not helped by earnings including from Alphabet which missed on Google Cloud revenue and fell 7.6% after hours.European equity futures indicate a lower cash open with Euro Stoxx 50 futures down 0.4% after the cash market closed with gains of 0.9% on Tuesday.Looking ahead, highlights include Italian Retail Sales, US ADP National Employment, ISM Services, International Trade, ECB Wage Tracker, NBP Policy Announcement, Speakers including ECB's Lane, Fed's Barkin, Goolsbee, Jefferson & Bowman, Supply from UK & US Treasury Quarterly Refunding AnnouncementEarnings from TotalEnergies, Credit Agricole, Novo Nordisk, Equinor, Pandora SSE, GSK, Santander, Uber, Disney, Ford, Arm & Qualcomm.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
In a rapidly shifting market, breweries face the challenge of adapting to survive. This talk explores how thoughtful, strategic branding and package design can be a lifeline, helping breweries make the right moves to reach their target audience. We'll discuss the value of brand audits to leverage existing equity, identify smart improvement areas, and make informed decisions on hiring the right designer. Discover how investing in design—even when budgets are tight—can strengthen brand presence, foster connections, and ultimately help breweries thrive in the new economy. Key Takeaways: Harness Brand Equity Through Audits: Learn how a brand audit can uncover hidden value, helping you make strategic, equity-driven decisions for cost-effective growth. Identify Smart Improvement Areas: Discover ways to prioritize brand elements that deliver the most impact, ensuring every design choice maximizes value in a tight market. Select the Right Design Partner: Gain insight into what to look for when hiring a designer, ensuring they understand your brand's goals and can create targeted, audience-focused designs. Design as an Investment, Not an Expense: Understand how thoughtful, strategic design can become a powerful tool for connection and longevity, positioning your brand to thrive through market transitions. Elbongurk Design is a boutique branding and package design agency focused on the food and beverage space. Elbongurk is dedicated to helping brands make a lasting impression through standout, compliant, and market-ready packaging. Elbongurk's founder, Jillian, brings a unique blend of real-world and academic expertise. Before launching Elbongürk, she spent nine years as a tenured professor at a NASAD-accredited university, where she taught brand and package design, product systems, and brand identity. With a background in designing for well-known retail brands like Pottery Barn, Target, and West Elm, she understands the demands of bringing a vision to life in the competitive retail environment. Jillian has also shared her insights at the Craft Brewers Association conference and on industry podcasts, covering topics from beer branding to impactful packaging design. Stay up to date with CBP: http://update.craftbeerprofessionals.org/ Join us in-person for CBP Connects Half workshop, half networking Charlotte, NC | June 9-11, 2025 Register now: https://tickets.beertrail.com/e/cbp-connects-charlotte
Do we focus too much on just one type of wealth? What if the key to a happy life isn't retiring early, ascending the corporate ladder, or having more money than you know what to do with? Serial entrepreneur Sahil Bloom spent years chasing money, only to find that it didn't provide happiness—it robbed him of it. Find yourself in the same boat? This episode is for you! Welcome back to the BiggerPockets Money podcast! Today, Sahil joins the show to discuss the core concepts from his latest book, The 5 Types of Wealth. Many FIRE-focused folks believe that financial wealth unlocks time, social, mental, and physical wealth, but Sahil is living proof that this isn't the case. In this episode, he shares about his own journey from financial illiteracy to financial independence, the different levers he pulled along the way, and how he was able to dig himself out of a rut that was slowly destroying his life. Whether you're stuck on the happiness hamster wheel, burned out at your nine-to-five job, or lacking in any area beyond money, you're not alone! Sahil will show you the “x factor” that leads to financial freedom, the best and most scalable side hustles to start, and how to transition from your W2 to entrepreneurship! In This Episode We Cover The five types of wealth explained (and why you shouldn't focus on just one!) The “x factor” that catapults you from a decent living to financial freedom Why increasing your income is more important than controlling your expenses The number one thing the FIRE community gets wrong about building wealth How anyone can start (and scale) their own online business in 2025 Steps every person must take to lay a strong financial foundation The “safety net” you need when moving from stable W2 income to entrepreneurship And So Much More! Links from the Show Mindy on BiggerPockets Scott on BiggerPockets Listen to All Your Favorite BiggerPockets Podcasts in One Place Join BiggerPockets for FREE Email Mindy: Mindy@biggerpockets.com Email Scott: Scott@biggerpockets.com BiggerPockets Money Facebook Group The 5 Types of Wealth Sahil's Instagram Try REsimpli, The Only All-In-One Real Estate Investor CRM Software That Helps You Manage Data, Marketing, Sales, and Operations Buy the Book “Pillars of Wealth” Find an Investor-Friendly Agent in Your Area How to Build, Grow, Scale, & SELL Your Online Business (00:00) Intro (01:02) Sahil's Money Journey (03:18) Building a Financial Foundation (13:29) Leaving the Fund & Moving Home (21:43) The “Scalability” of the Internet (28:09) Structuring His Company (33:18) The 3 Pillars of Financial Wealth (39:09) Riding Out the Market (43:40) The 5 Types of Wealth (46:08) Connect with Sahil! (47:03) Build “Well-Rounded” Wealth! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-604 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Our analysts Ariana Salvatore, Stephen Byrd and Devin McDermott discuss President Trump's four executive orders around energy policy and how they could reshape the sector.----- Transcript -----Ariana Salvatore: Welcome to Thoughts on the Market. I'm Ariana Salvatore, Morgan Stanley's U.S. Public Policy Strategist.Stephen Byrd: And I'm Stephen Byrd, Morgan Stanley's Head of Research Product for the Americas and Global Head of Sustainability Research.Devin McDermott: And I'm Devin McDermott, Head of North American Energy Research.Ariana Salvatore: Our topic today looms large in investors minds. We'll be digging into how the new policies proposed under President Trump's administration will fundamentally reshape energy markets.It's Tuesday, February 4th at 10am in New York.On his first day in office, President Trump declared a national energy emergency. He issued four key executive orders, setting out a sweeping plan to maximize oil and gas production. All of this on top of stepping back in tangible ways from the Biden administration's clean energy plans. We think these orders can have a significant impact on the future of energy, one of Morgan Stanley's four key themes for 2025.So, Stephen, let's start there. One of the biggest questions is which segments of the power and AI theme stand to benefit the most, and which ones will be the most challenged?Stephen Byrd: Yeah, Ariana, I'd say the two biggest beneficiaries will be natural gas and nuclear, probably in that order. And in terms of challenges, I do think, wind, especially offshore wind, will be quite challenged. So, when I think about natural gas, it's very clear that we have an administration that's very pro natural gas.And natural gas is also going to need to be part of the power mix for data centers. It's flexible. It could be built relatively quickly. There are a lot of locational options that are perfect here. So, I do think natural gas is a winner.On nuclear, we do think Republicans broadly, and also many Democrats, firmly support nuclear power. Nuclear is quite helpful, especially for larger data centers or supercomputers. They're large, there's a lot of land at these nuclear plants. And so, I would expect to see some very large data centers built at operational nuclear plants. And we do think the Trump administration will work hard to make that – from a regulatory point of view – make that happen.I also think we'll see a lot of support at the federal level for new nuclear power plant construction, as well as bringing the U.S. nuclear fuel cycle back to the U.S. So those are a few of the areas that I would expect to do well.Ariana Salvatore: Devin, same question for you on the energy sector. How are you thinking about the impacts?Devin McDermott: Yeah, it's a good question, and there's a lot in these executive orders. I mean, some of the key things that we're focused on as impacting the sector include encouraging federal lands development and leasing for oil and gas activity, with a specific focus on Alaska. Resuming LNG permit authorizations, which lifts the ban that's been in place for the last year. Eliminating EV targets, including pausing some IRA funds tied to EVs. Broad support for infrastructure permitting, including pipelines. And then a broader review of environmental regulations, including some recent headlines that point to rolling back fuel efficiency and emission standards for cars and trucks – something that the prior Trump administration did as well.The near-term financial impact to the industry of all this is fairly limited. But there are two key longer-term considerations. First, on the oil side, rolling back fuel efficiency standards and other environmental regulations doesn't stop the transition to lower carbon alternatives, but it does slow it. And in particular, it moderates the longer-term erosion of gasoline and diesel demand; and creates a backdrop where incumbent energy players have a longer runway to harvest cash from these legacy businesses and time to scale up profitable low carbon growth, which is still progressing, despite the policy changes.And then second, gas is the biggest winner, building on some of Stephen's comments. The policy initiatives that we're seeing here are likely to support more LNG exports and more gas power generation relative to the status quo.Ariana Salvatore: So, Devin, one of the things you mentioned there is regulation, and we think that's specifically reflected in this theme of unleashing American energy that Trump likes to talk about. It seems that this would set the stage for looser regulation and more supportive policy for oil and gas development.Do you expect any meaningful changes in near-term investment levels or production growth across the industry?Devin McDermott: It's an easy one, Ariana. No. The reality is the majority of U.S. oil and gas investment activity occurs on state or privately held lands. It's regulated at the state level. And the amount of investment that occurs across presidential election cycles really doesn't change all that much. And, in fact, some of the highest growth years ever for the U.S. oil and gas sector occurred under the Obama administration and also the most recent Biden term where production of both commodities actually hit all time highs.So, when your baseline is things really aren't that bad, it's tough to do much that really accelerates the throttle and causes companies to add more activity or add more oil or gas drilling rigs. And the last thing I just say on this point is the sector is not funding constrained. There's adequate free cash flow; there's adequate investment capacity. And that also is another limiting factor on doing anything that positively influences willingness to spend capital.In the end, it's really more about price – and where oil prices specifically goes as it relates to oil and gas investment – rather than policy.Stephen Byrd: So, Ariana, let me move from Devin's thoughts on price back to policy – and if you take a step back, a key question that we often get asked is: Will the President's executive orders be fully implemented? What do you think?Ariana Salvatore: Well, it's always necessary to frame these policy proposals in terms of their feasibility, right? So, we're still parsing through all of the details of these executive orders. But we already feel higher conviction in some areas over others, where we think the president has clear and present authority to make policy changes.For example, President Trump can pretty easily unilaterally decide to move away from Biden's clean energy targets, but he's going to have a much harder time rescinding money that has already been appropriated, dispersed, or obligated towards these ends. For example, through the Inflation Reduction Act. We think that process is going to be much longer and likely result in a very targeted repeal as opposed to a broad-based claw back of funds.Stephen Byrd: Just thinking about sequencing, can you talk more about, sort of, the potential specific sequencing of these policies?Ariana Salvatore: There are a few different balls in the air right now, so to speak, as we noted in the run up to the inauguration. We expected President Trump to focus first on the areas that are more within his unilateral control as president. So, that really comes down to tariffs and trade policy more broadly, as well as immigration.I would also put deregulation in that bucket, but more on a sector specific basis. So, as we've talked about, we think there's clear deregulatory tailwinds for the energy sector. It's also clear in financials. But across the board, these are going to have more limited success in the energy complex.But Stephen, back to you, given everything that we've been talking about, how do you see the future of clean energy, renewables, EVs – all these elements that make up the Inflation Reduction Act and the broader energy transition?Stephen Byrd: Yeah, as I think about the areas that are most at risk, I think it's very clearly electric vehicles as well as wind power. Both have been, the subject of direct criticism and we would expect a high risk of elimination or reduction of support there. So that will cause some issues. I would say especially offshore wind faces multiple issues and we think the growth outlook is now very challenged.Now that said, onshore wind is often, for example, done on private land rather than public land, and the economics in many locations for both wind and solar remain quite favorable. And I think a big area of underappreciated upside would be AI itself – in the sense that the hyperscalers have very significant zero carbon emissions goals. So, what we see happening is we think these hyperscalers over time as they build out more and more data centers, which do have very high carbon footprints, we do think these hyperscalers are going to engage in power contracts with new renewable projects. So that is a boost to demand that I think the market is really not well appreciating.Ariana Salvatore: And finally, let's consider the issue of powering data centers. Devin, you've spoken about your positive outlook for natural gas. Do you think natural gas is going to play a bigger role in powering large U.S. data centers?Devin McDermott: Yeah, we do, and there's been an uptick in natural gas related announcements as it relates to data center growth in the U.S. over the last few months. And more recently, we've actually seen some very large deals; plus carbon capture which addresses some of the emissions concerns that Stephen was mentioning before – that the hyperscalers have longer term.It's important to contextualize this, though, with the broader growth backdrop for natural gas. The market here domestically is on the cusp of what we see as a structural growth cycle driven really by two key pillars. The first of which is that rise in LNG exports that I was alluding to before, where we're on track to roughly double U.S. export capacity over the next five years. And the second pillar is power. And power has a lot of different subsets to it. It's onshore manufacturing, it's this broader trend of electrification, like more electric appliances, a little bit from EVs. Some underlying industrial activity growth and then data centers in AI.So that is meaningful. That's a lot of gas, but there's also a lot more in all the other buckets I talked about.Ariana Salvatore: Stephen, pivoting back to you, beyond natural gas, how do you see this theme of powering AI developing more broadly under the new Trump energy policies?Stephen Byrd: Yeah, you know, I think broadly what we see is that a number of debottlenecking technologies are going to become very important. We cannot get enough power for data centers that we need really over the next several years. So, we're going to need to be very creative.One option will be to build data centers at large nuclear power plants. I think we'll definitely see that. We will also, I think, see converting bitcoin sites into data centers. That's going to be quite popular. And then lastly, I do think electric transmission will see excellent growth. That is certainly one way to try to debottleneck the grid – is to increase the grid itself.That takes many years, but I do think there will be more and more willpower. Both at the federal and state level to provide incentives for electric transmission. So that's an asset class that's definitely a winner.Ariana Salvatore: Last question for both of you, Stephen. I know we're going to hear from you in an upcoming episode about the implications of DeepSeek, but just to get a little bit of a sneak peek here. I'd love a quick take on how you're thinking about DeepSeek.Stephen Byrd: It's really quite jarring in a week to go from a $500 billion U.S. AI plan to a LLM with a reported price tag of just $6 million. I come away bullish on power demand, and let me walk through why that is. You know, I think that as the cost of inference drops, and we're seeing many signs of that – not just DeepSeek, but many other developments. As that happens, the absolute demand for inference compute goes up, and that compute requires a lot of electricity, so I'm quite bullish there.Also on AI training, I think the market has gotten too negative. I think that what we'll see is continued LLM R&D to go to the next level of capability. And there are at least five U.S. companies who are going to spend in the tens of billions, possibly into the hundreds of billions of dollars each on training the next generation of Large Language Models, which could be much, much more capable than the current generation. So, I'm actually quite bullish on the outlook for power demand from AI.Ariana Salvatore: Devin?Devin McDermott: The news drove a big dislocation across the gas value chain and pullback in many exposed stocks. And we think those types of dips are a buying opportunity because the gas setup is constructive or compelling for many reasons. Power is one of them, but you're not paying for power in the stock prices today.Ariana Salvatore: Stephen, Devin, thanks for taking the time to talk. And to our listeners, thanks for tuning in. If you enjoy Thoughts on the Market, please leave us a review wherever you listen and share the podcast with a friend or colleague today.
Lesley Logan dives into financial independence with Steve Selengut. Discover actionable insights on managing your portfolio, minimizing risks, and building income-producing investments. Steve shares decades of expertise to help you achieve financial security and freedom.If you have any questions about this episode or want to get some of the resources we mentioned, head over to LesleyLogan.co/podcast. If you have any comments or questions about the Be It pod shoot us a message at beit@lesleylogan.co. And as always, if you're enjoying the show please share it with someone who you think would enjoy it as well. It is your continued support that will help us continue to help others. Thank you so much! Never miss another show by subscribing at LesleyLogan.co/subscribe.In this episode you will learn about:The meaning of income independence and why it matters.Breaking down portfolio basics for beginners.How to use diversification to minimize financial risks.The value of income-producing investments like dividends and bonds.Why emotional decision-making can hinder financial growth.How to vet financial advisors and ensure alignment with your goals. Episode References/Links:Steve Selengut's Website - https://theincomecoach.netRetirement Money Secrets by Steve Selengut - https://a.co/d/caqcgnTVetting An Investment Advisor - https://beitpod.com/articleGuest Bio:Steve Selengut is a 40+ year professional investment manager, advisor, RIA, and IAR who now coaches both individuals and fellow advisors on creating what he calls “income independence.” He wrote Retirement Money Secrets, his second book, which uses a conversation-style narrative to guide readers from chasing market value to building sustainable portfolio income. A former private investment manager for 44 years, Selengut personally oversaw around 325 individual portfolios in the U.S. and abroad. Drawing on a “department store” metaphor, he treats each portfolio asset like “merchandise on a shelf,” taking strategic profits while reinvesting for consistent growth. Selengut retired from day-to-day portfolio management in 2022, devoting himself to a coaching practice that frees investors from market-driven stress and uncertainty. He remains one of the few investment authors who have directly managed other people's money. If you enjoyed this episode, make sure and give us a five star rating and leave us a review on iTunes, Podcast Addict, Podchaser or Castbox.DEALS! DEALS! DEALS! DEALS!Check out all our Preferred Vendors & Special Deals from Clair Sparrow, Sensate, Lyfefuel BeeKeeper's Naturals, Sauna Space, HigherDose, AG1 and ToeSoxBe in the know with all the workshops at OPCBe It Till You See It Podcast SurveyBe a part of Lesley's Pilates MentorshipFREE Ditching Busy Webinar Resources:Watch the Be It Till You See It podcast on YouTube!Lesley Logan websiteBe It Till You See It PodcastOnline Pilates Classes by Lesley LoganOnline Pilates Classes by Lesley Logan on YouTubeProfitable Pilates Follow Us on Social Media:InstagramThe Be It Till You See It Podcast YouTube channelFacebookLinkedInThe OPC YouTube Channel Episode Transcript:Steve Selengut 0:01 It doesn't matter what the stock market is doing. It doesn't matter what interest rates are doing. It won't impact your income, your ability to live your life the way you want to financially. Lesley Logan 0:14 Welcome to the be it till you see it. Podcast where we talk about taking messy action, knowing that perfect is boring. I'm Lesley Logan, Pilates instructor and fitness business coach. I've trained 1000s of people around the world, and the number one thing I see stopping people from achieving anything is self doubt. My friends, action brings clarity, and it's the antidote to fear. Each week, my guests will bring bold, executable, intrinsic and targeted steps that you can use to put yourself first and be it till you see it. It's a practice, not a perfect. Let's get started. Lesley Logan 0:52 All right, Be It babe. Here's the deal. We're gonna talk money. I say it straight up on the interview. It's good stuff. Don't be scared. He is going to say words you may not know or you've only heard of, and you usually nod along when you hear about it, but he doesn't talk nearly as fast as I do, so he's gonna absolutely inform you in the best way about how to manage your retirement, how to not even to your retirement, how to manage your portfolio so that you can retire. This is a whole different conversation than what I've had in the past about money investment. That's a new way of looking at it. Honestly. I've never heard of it before, so I have a lot of, I have, like, notes that I'm like, okay, I gotta go research this. Gotta research this. I already have committed to doing the Be It Action Item. And the reality is, it's like, I want you to have whatever you want in this world, and money isn't a bad thing, right? Shitty people with money can be a bad thing, but you're an amazing person who listens to this podcast. You deserve to have portfolios that support you, so that you can support the people that you love, because I know how generous you are. You know, they actually have proven that when women have money, they actually put it back into the community. They support other people. And so I want you to have as much as you want and more than that, so you can continue to do that and be the amazing person you are and have the impact you want to make on this world. But first, let's educate ourselves. So here is Steve Selengut. Lesley Logan 2:15 All right, Be It babe, we're gonna talk money, and I think I'm just gonna stay it right there. Do not fast-forward, skip this episode. I know no one like money, but we have to talk about money and being it till you see it. If you've ever been like, I just want to be good with money. I'm so excited for our guest today. His name is Steve Selengut and he is actually going to help us, really, he's going to demystify all this stuff that you hear. I mean, we hear negative stuff about the economy, we hear negative stuff about the stock market. And I'm really excited because Steve's going to help us understand not all bad things are bad, and how they can be good, and also how we can really take a charge of our money and our retirements the way he has for so many. So Steve, will you tell everyone who you are and what you rock at?Steve Selengut 2:53 Sure. Thank you. Good to be on your program. My name is Steve Selengut, like you said, and I guess I'll leave it with what I was for about 45 years. I was professional investment manager where I made all the investment decisions for about 135-145 families, and ran about $110 million for them. Our objectives were always to put them in a position where they were, what we used to call it, income independent, that their portfolios generated all the income they needed to get their lives done, whatever that happened to be, whatever they wanted to do, you know, depending on themselves. Now I'm an income coach. I sold my business last May 23. Lesley Logan 3:45 Wow. Steve Selengut 3:45 A little more than a year ago, and started a coaching business. So now I teach people had to do that. I can't actually do it for them anymore, which is fine for me. Fine with me. I look at their portfolios and I try to put them on a path to what I call income independence. And it's something, it doesn't matter what the stock market is doing, it doesn't matter what interest rates are doing, it won't impact your income, your ability to live your life the way you want to financially. Okay? So that, I think that's a big thing. I mean, I've enjoyed being in that situation for a long time, and I know a lot of people are also there, but I also know there are hundreds of people out there that are really, you know, coming towards the end of their career, and they're saying, you know, I don't think I can replace my six figure income from my investment portfolio?Lesley Logan 4:44 Yeah, yeah, no. I mean, that's one of the reasons I like to talk about this. Is because, first of all, so many people aren't taught about investment portfolio. I think the word portfolio might even need to be deconstructed for some of our listeners. And by the way, if that's you, don't be embarrassed. This is not taught in schools. They don't teach this. And I happened to when I was working for a high-end fitness company as a Pilates instructor, my trainer was like, oh, did you get on the 401(k)? And I was like, we have a 401(k)? And he's like, you have to get on there and you should just ask, like, they'll match the max. Just do that. And I was like, okay, that was my money advice in my 20s, was with my trainer at work. And then when I did reach out to someone who could help me, because someone said, oh, this person's helping with me with my portfolio, I was like, okay. I found out after six years of them doing it, that they had me as if I was an 80-year-old. There was no aggressiveness. A snail is more aggressive than what they were with my, so then I got really frustrated, because I'm like, I don't know enough to know that someone's screwing up with my money. And so I think we all would love to be income-independent. But also some people, especially after the pandemic, even though we're several years out now, some people had to rely on their retirement, so they're kind of starting over. So can you, first of all, break down what a portfolio is and then also kind of talk about, if you're someone who's where the income in (inaudible) is so far away, what are some things you need to know or should be thinking about?Steve Selengut 6:11 I can try. A portfolio is really all your investment accounts, your IRAs, Roth IRAs, 401(k)s, speaking of 401(k)s, you'd be surprised how many people don't even realize they're investing in the stock market. 401(k). They just think it's a 401(k) is the investment. But all of those things put together your personal accounts, if you set aside money for your kids already and education stuff like that. That's all part of your investment portfolio. Lesley Logan 6:41 Okay. Steve Selengut 6:41 Doesn't include your fancy jewelry and your cars and your stuff like that. Lesley Logan 6:46 Okay. Steve Selengut 6:46 So there's two types of securities, two general classes of assets that would be in a portfolio, and those are equity-based, where you own an interest in a company that would be a stock. You know? Anytime you want to share a stock, you are an owner of that company. They may not treat you like an owner, but you are. And then there's the other class of securities or securities you're in, mainly because they produce income, and those can also be dividend stocks, which produce some income. Some funds do as well, but what's inside is usually bonds, preferred stocks, mortgages, things of that nature, that are really, they're there. Your main purpose is to get income from them. So the combination of the two, like you alluded to, was, you know, when you're younger, it's okay to have more of an exposure to the ownership side of things, stocks, than when you get to be, you mentioned, those people that are 80, well, I'm only a few, six months away from that. Lesley Logan 7:57 No way. Stop. You guys have to be watching YouTube right now. No way.Steve Selengut 8:01 But, you know, you, at my age, my account still contains 35% in the stock market, but mainly because the kind, the way I invest in the stock market is also in income-producing securities that just happen to be invested in stocks, and the type of securities that I use are not very well known. You'll never find any in your selection universe for a 401(k), for example, but a lot of people have discovered their use in IRAs and things like that, because they're actually managed to produce income and to give it to their shareholders. Whereas stocks, the company's management is there to make a lot of money and to grow its influence and size, not to give a lot of money back to its shareholders. Mutual funds are there to gain market value. That's their primary objective, because people feel good when their bottom line is high. And the same with ETFs, their focus is on growing the market value. The dilemma, as you again, you mentioned the crisis around COVID, when the market really crashed for a couple of months, fortunately or unfortunately, when we get done with this conversation, you will agree with me that if it stayed down longer, it would have been better. You know? So, you know, so that kind of thing happens, but when you're focused totally on market value, that becomes very painful and very scary, because when the market value goes down, you know, that's what you're, what you're all about, whereas in my eyes, when the market value goes down, I recognize that the securities I have are going to pay the same income, irrespective where the market or interest rates are going. So I see it as an opportunity to add to those securities at a lower price, therefore increasing my income percentage.Steve Selengut 8:34 That makes sense to me. Like, you know, someone we work with, they're like, okay, it's an election year. Here's what you can expect. It's gonna go down. It always does. Doesn't matter who's in office, of go down, and then that's when we can invest more, because you can get it for a lower and I was like, oh, okay. Steve Selengut 10:23 Okay, that's, that person has the right mindset, a similar mindset to the one I have as an income investor as so that's what a portfolio is. That's what its content is. And everybody says they talk on radio shows and stuff, but all the uncertainty is way up here. It's so high.Steve Selengut 10:44 Is there ever certainty? Lesley Logan 10:45 I know. Steve Selengut 10:46 There's never, ever certainty. Lesley Logan 10:49 There isn't. I know. And everyone's out there like pretending like the past has certainty in it. If we all looked back at how we're feeling, it was pretty uncertain. I've heard you talk about how a portfolio is a department store or like, a shopping center. Is that what you mean we have these different area, like, different types of things that can go in the portfolio. Is that what you mean by a department store or a shopping center? Steve Selengut 11:13 You're good. Exactly, exactly. You have to, my mindset, I, and I guess we have to realize there are thousands of different types of stocks, all different sectors, healthcare, every different imaginable sector, then there is international. We are, regardless of what anybody tells you, a global economy. You know, we rely on China, even though they're angry at us all the time, and we're the same with them. It's a global economy, and you have to position yourself with this portfolio so that you own a little bit of everything. You have a presence in each place. It's difficult to do if you're just doing individual stocks, because it requires a lot of money to have all those different things, right? But when you use income-focused funds that I use, which are called closed end funds, and we can get into more with what they are, but you can get them in all shapes and sizes, all sectors, all focuses, income or equity. So that's what I use. And like you said, I think of them as merchandise on the shelves in my department store, you know, and I set a target markup which I'm comfortable with that profit, and I'll sell that merchandise because I know I have this unlimited supply of others to replace it with on my shelves. And that's exactly how I do it. I say, okay, I got a 5% markup. That would be nice if you had that in department stores, by the way, instead of 15, a 30% markup, 5% markup, somebody wants to buy it for a 5% profit, I'll take the profit and I'll add something else, and I just do that over and over and over, and I just replace them all, because once you are experienced enough to judge their quality, their amount of risk involved in different types of securities. You get comfortable with this. I call it a selection universe. Lesley Logan 13:10 Yeah.Steve Selengut 13:11 Comfortable to the extent that it doesn't matter which one you use, which product you put back on your shelf.Lesley Logan 13:17 Yeah. And I like the visualization of it, because I think, and you know, you guys, it's okay to hit pause, look something up, you know, and come back to this, because it can be overwhelming. But also, if we think about a department store or a shopping center, no one actually goes to a shopping center that has five shoe departments. They want a shopping center that has, oh, it's got the shoe department, it's got the pro, I'm going there because I can get the grocery, I can get groceries, I can get gas, I can get these things, and so more people are attracted to that. It can do really well, because, in case you don't need shoes, you're still going to the shopping center. There's still going to be something doing well. Am I describing your analogy correctly? Steve Selengut 13:50 Yeah, yeah. And what is the biggest thing that brings you to a shopping center or an individual store? What brings you there? Lesley Logan 13:59 Something you need or. Steve Selengut 14:00 Yeah, but, sale. The sale.Lesley Logan 14:04 The sale. Yes.Steve Selengut 14:05 There's another part of this analogy, when prices are down their bargains, the same stock market. When the price of Microsoft goes down as short a time as that thing's been in business, unlike Exxon or some of the other healthcare companies, every time it's gone down in price, it's always been an opportunity to buy it and then to be able to sell it. Most people don't sell. Lesley Logan 14:30 Yeah. We can get into that. So you mentioned risk, and I think, like one of the things that makes it difficult for some people, some listeners, to kind of get involved in their portfolios more is like the idea that you don't know enough to know what you're doing. Steve Selengut 14:48 Right. Lesley Logan 14:48 And also to kind of learn, you said, you should get experience with the risk of it, the experience could cost you money. And I think some of us, going back to certainty, were like, ah, I have this money, though. So I would just rather hold on to this than "lose" because if we go off of what you've said, if we actually stick with what is known is that the longer you're in there, it always ends up up guys. So it's almost feels like you're learning on your own dime, and you can lose a lot of money. And I think people get scared.Steve Selengut 15:17 That's the way. That's true of most people's entry into the marketplace, and when they get started, and that's a lot of what eventually leads them to a financial advisor to help them with that, especially when the size of their investment gets bigger, and it's scarier if you were to lose it, like, you know, oh my God, as you get older, how am I going to rebuild if I get these losses. In the book that I wrote after I sold my business, it's called Retirement Money Secrets, it spends a lot of time on six principles of investing, and four of them are risk minimization tools. When you're looking at a security, it doesn't matter if it's one of those regular stocks in the New York Stock Exchange or on any of the markets. You're looking at any security, you want to judge its quality. You want to come up with a way of determining what its quality is. And what I look at is things like, how long it's been in business. Is it profitable? Does it pay me a dividend as an owner? I mean, the chief executives getting $12 million a year. If I'm not getting the dividend, that doesn't seem right to me. I'm an owner. Lesley Logan 16:30 Yeah. Steve Selengut 16:30 I'm paying his salary, theoretically. Lesley Logan 16:33 Yeah. Steve Selengut 16:33 So that type of thing. So there are things you can look at to determine the quality. How long it's been in business is a big one. Then the next one is diversification. When I set up a portfolio, even if AI is crazy hot right now, you don't want a portfolio that's all in AI. I mean, Buggy Whips used to be the biggest thing, you know, years ago. So, you know, you just, so you have to diversify. Yeah, I have AI, but I also have everything else. So diversification is a second way to minimize your risk. The third way is to make sure everything you own pays you income. There's two reasons for that. First, you deserve it, and secondly, it's a clear way of knowing if there's something wrong with the company. No corporation wants to cut their dividend, that's why they're so reluctant to start paying dividends in the first place. But what if something happens? They have to cut it. It's a sure sign that they're in trouble. So that's why we want to have something that pays a dividend, because we want to know when they get in trouble. And if they cut their dividend, they can't keep it from us. And it's the same with bonds and things like that. They have to pay that regular interest every six months, and if they don't, everybody's going to sue them and they're going to be gone. So income is a very important thing for that and for the fact that you then have the wherewithal to take advantage of opportunities in the market, because you have income coming in, many people make the mistake of automatically reinvesting their income into the same securities. It's a big mistake, because then they don't have that luxury of having money that they can put back into Microsoft when it goes down, or put back into Exxon when it goes down, that type of thing, or pay a bill, buy Christmas presents, whatever. Those are the big three. And then the fourth one, and this is where most people fail miserably. It's a function of emotions. They fall in love with securities that go up in price. They just totally fall in love. They get convinced, I'm just going to keep adding to this one and adding to this, always goes up. It's wonderful. It's so green on my whole portfolio looks beautiful because this one security, or these three securities, are up so much. But then they go down. Then you have a COVID, then you have a dotcom bubble. Were you?Lesley Logan 19:05 Oh, I was around. I wasn't investing. I was alive. But I do remember, I do remember the year where the Super Bowl commercials were all dotcom commercials, and they were terrible. They were awful. And then when they and then they collapsed, and everyone was pissed, yes.Steve Selengut 19:21 Well, I remember the first Super Bowls when Green Bay was, the very first ones.Lesley Logan 19:27 Oh, the very first Super Bowls. There was no ad.Steve Selengut 19:29 My first, my first market correction, big one, was the crash of '87th. You know, it's interesting about the crash of '87 because it wasn't AI and it wasn't high-tech, but it was the first time when they started using computers in the stock exchanges. In the very, very old days, you never had a day where, where a million shares were traded in one day. The Dow was, I don't even know, was at 1000 back in '87 you know? But what happened was they started to put in these programs where people could trade on like a signal would come off, you know, this one went down that triggers a cell. And to me, I was pretty certain little I knew about automation, but it was just a computer loop, because if you you say, okay, you're going to sell, it goes to this level, and everybody sells. And then the mob hears about it, and they start to sell. It goes to the next level, the next level, next level. Lesley Logan 20:29 Right. Steve Selengut 20:30 And it was across the board. Everything was down. It wasn't just tech, it wasn't just this everything. Lesley Logan 20:36 It was just that, you know how the birds, like, they take off, they all fly together. It's kind of like everyone kind of goes, oh shoot. I must, everyone freaks out the same time, because somebody like. Steve Selengut 20:46 Everybody freaks out the same time. And that's how the stock market, everybody does freak out at the same time. Lesley Logan 20:51 Well, that's how the depression was. Everyone went to the banks to take somebody out at the same time.Steve Selengut 20:56 Run on the bank, right? Yeah, those days there was no protection. Lesley Logan 21:00 Yes. Steve Selengut 21:00 You didn't have all those controls and protections that we have now in our bank accounts and our.Lesley Logan 21:06 I just listened to an episode about Sam Bankman-Fried of how did he do what he did? And like, people lost their life savings. And whenever I hear of them, I'm like, you put all of your life savings in one thing? Like, not that you're deserving. No one is deserving of that. But also, I'm just like you put your life savings in one thing? And what's interesting is, whoever took over, they've actually been able to replenish and pay people back, which I think is amazing that they're very lucky. But I love that you brought up these different risk minimizers, because it does mean, like, things can go up and things can go down, and you're gonna be okay. But there's a part of my brain, and that is like the listener in here, going, how much time does this take every day? Because, how much time do I have? Because if I have a job and I've got, like, if someone wants to be it until they see it and be in charge of all these things, how much time do they need to spend on looking at their portfolios, or do you suggest they don't?Steve Selengut 22:01 Oh yeah, no, absolutely. If you're going to run your own portfolio, you better be there to, you can, well, there's two ways of looking at it. There's two streams of income that you can have in investments. The one is the regular distributions, bonds, stocks, whatever pay. And you get that on a regular basis, and maybe once a month, you see how much your cash position is, and you decide what to reinvest it in. So you can be pretty passive with it. And that's one stream of income. And right now in closed-end funds, I mean, even in those that are invested in the stock market, this is what I'm talking about, the spreadsheet with all these things on it. There's 100 of them that I look at and that I own that are yielding over 99% and they've all been tested for, like, quality diversification income, and I do the profit-taking myself. But if you could have a diverse portfolio like this made up of diverse portfolios themselves, you can be very passive, if you choose to. And you know, the income is going to come in at 9% and let's say you've got a million dollars. So that's what 90 grand a year you're going to make. Is that going to be enough for you? You make that decision, you know? So if it is, yeah, you can be as passive as you want to be, but then you have somebody like me who hasn't quite seen all of the world yet, and I'm determined that, while I can still walk, I'm going to see the world, the whole world. So I need more than just that base income is what I call as base income. Yeah, I need more than that, and I know how to get that, because I'm looking, I know how the market works, but I don't know when things are going to happen, because nobody does, but it's a cyclical beast, right? I mean, if you think back and you look at a chart, you can see that it goes up and down and up? Lesley Logan 24:01 Yeah. Steve Selengut 24:02 Highs and lows are not predictable, but you can tell if you're at a higher level or at a lower level, right? You can just look where you are. So depending on where you are, how I do my decision making, I buy less of things if the market is high, I buy more of them if the market is low. Lesley Logan 24:22 Got it. Steve Selengut 24:22 I'm looking to sell more when the market is high. I'm looking to buy more when the market, so all those things go into my thinking. Lesley Logan 24:30 I like that you pointed out based on what you want to make from your investments, can determine the level of your participation in it? Steve Selengut 24:42 Yes, exactly. So with me, I want I set these targets on my profits, just like my store, if it's just looking at the income, you're more like a bank with a very high level of earnings on the savings in the bank. You got this diversified portfolio spitting out all this income. You you don't need to do much except reinvest it selectively. But I want more than that. So what I want to do is I'm going to look at my prices, and if I have somebody comes into the store and I get my 5% markup, or even a 2% you know, when prices are down, I'll take it, and that builds up my capital every time I make a couple bucks. That way I can also reinvest it, add new securities, add to existing securities, and increase my level of income. Lesley Logan 25:34 Yeah. Steve Selengut 25:34 So for example, like right now, when you have an account statement like a fidelity or Schwab, they give you every month they tell you your estimated income for the next 12 months is this, so I know how much mine is for the next 12 months, but I also know that so far as of today, I've made nearly five months additional income by trading the securities in my account. So that tells me, Sandie, if you want to go to Japan next year, yeah, no problem.Lesley Logan 26:08 Yeah. I know, Sandie is your partner. And also, have you seen you can go on a two-year long around the world cruise? I already looked. It has internet, so you could totally do what you're doing. You can see the whole world. My husband and I did the math, because I was like, well, how much does this, I heard the price, which can sound like a lot, but I was like, well, just divide it by. Steve Selengut 26:28 200,000 something like that. Lesley Logan 26:30 Yeah, yeah. So then you divide it by like, 24 months, or whatever it is, and you're like, it wasn't much more than my mortgage.Steve Selengut 26:37 It's a whole lot cheaper than doing it the way I have, by individual trips. You know, a week in Southeast Asia, two weeks in Australia and in separate times. You know, when you're going here, if we added up all that we'd spent, going to all these places we better be a whole lot more than that.Lesley Logan 26:53 I know. I told them. I said, okay, I don't know if we'll ever not have dogs, because I don't know if I could leave my pet for two years. But if we ever got to a place where we had no pets, even if I've seen the place already, what a cool way to spend two years of your life. I hope you do that. I guess my next question for you is just, if someone's feeling overwhelmed, they're with you. They're like, okay, this guy, Steve, he gets it. I understand most of the words he's saying. I'm sure most people don't realize that they're like, stocks could just like income-produce for them on top of what they're already doing, where do they start? How do we take the overwhelm off?Steve Selengut 27:26 Okay. Well, you know how they say there's an app for that? Lesley Logan 27:30 Yes. Steve Selengut 27:30 There's a book for that. Lesley Logan 27:31 Okay. Steve Selengut 27:32 And that's why I wrote the book. It's a conversation between, really, my wife and I and this couple we meet on one of our trips in Amsterdam, and they've come into this trip by selling a chunk of their assets to fund the trip and we've come into it by paying a couple months income to do it. And we talked about how we got from A to B, and how they can get from where they are to where we are without really changing anything, because most people have the same securities in their model portfolios or their funds, or whatever they have in their 401(k)s, and these closed in funds that I have that deal in equities pretty much own the same things. It's just the focus of the managers of the fund are in line with my interest. My interests are income production. So I have these guys, hundreds of them, working directly for me, right? Because they're running these portfolios and they're giving me income, and then I am selling their poor souls every now and then for profits, but, you know, I buy them right back again soon, not immediately, but eventually. So that's the thing. You got to educate yourself. Like you said, in this country, most people come out of high school, they can't even balance a checkbook. They come out of college, and they don't have a clue unless they're majors, right? But there are certainly many books that you can read. I know the textbooks that I read in college, and I did take business courses, so yeah, I knew a little bit. You can learn about what stocks and bonds are. I mean, some of the people that are listening to you and I talk today don't know the difference between one and the other, or what they mean, what you know they're and that's unfortunate. You got to know that. You really need to know that before you can say to somebody, I'm going to trust you to manage my money. You don't know what he's doing. You've got to know and you've got to give him some direction. You've got to tell him, I'm not particularly concerned if you buy a stock that goes up and makes me a lot of money, unless you actually capitalize on that, because when it goes down, you don't look so smart anymore, you know? Lesley Logan 29:49 Yeah, I find it fascinating the idea of doing it myself, and also like I'm not in that place of my life where I'm there yet. So I've educated myself to a place where I ask questions of my person and they have to know them. And. I've been really impressed with this person I've worked with recently because no stuttering, definitely had it, got me the information, did better than the things that I asked. And the more I educate myself, the more questions I have. So every meeting we have, and he'll meet with me as much as I want, I'm like, okay, I have more questions that you're still securing your job, because I'm learning more. And so until I am able to do it myself, and that day will come, I just have a lot going on my own business, and I want to make sure that something is happening. But it is true, we have to educate ourselves, and we can't be scared of it. And I love that your book is like a conversation, because I think that that takes the overwhelm off. I read The Psychology of Money a couple years ago, and that was really helpful information from that guy, because he was just like, hey, the type of person you have to be to make a lot of money is not so good at keeping it. And he explained that. I was like, oh, that's very fascinating information. You know? Steve Selengut 30:55 Interesting. That's interesting. The education, the learning what you do, the amount of time you spend again will depend on back to where we were. How much money you really want to make. If you could be happy with this amount of money. Fine. Otherwise, you have to do other things. You have to take charge and trade those things to make really significant. And I mean, really significant.Lesley Logan 31:16 Yeah, I'm really excited for what you're doing, your book and stuff like that, because I do think that people need to hear what's possible. I also worry about people who are just relying on their 401(k) or their IRA. I think it's nice and it's important, but also it might not be enough, especially because we're living longer, thankfully, we're living longer and hopefully healthy. But that doesn't always mean so. Things happen all the time. There are disasters that are outside of your control, and so I do kind of worry about people. So I think educating people like you do, having you on it, is really important, because being it until you see it, you could have all these dreams of being this amazing boss who owns this awesome company, but at the same time, there's money behind everything comes back to that money. It's the energy that fuels things, and so having an understanding of how it works and different ways you can work it, I think it's so cool. I've never heard of something. I've never heard of it. I've never dove deep on the idea of the income producing, like getting those dividends, and using that as a measuring stick in that way. I mean, it's obvious once you said it, but it's not something I thought abou because I just thought, well, I want to be aggressive. I want the money to grow. I want these things. But also, like, how cool that you coach on that income-producing investment. Steve Selengut 32:32 What would you say your income is in your portfolio?Lesley Logan 32:36 Right now? (inaudible) What's it produced in the last month? Or what's it valued at right now? Steve Selengut 32:43 No, no. Market value doesn't matter. Lesley Logan 32:45 Okay, then I don't know that answer today. I have a meeting next week. Steve Selengut 32:48 Right. Most people don't ask that, and most people who have advisory people, and normally an advisor is getting about 1.5% not him personally, but the company that he works for. So when I used to tell people when I was managing their money, I was telling them that I would make it a point to make more in profits each year than they were paying me in fees. That was the objective as far as that goes. I'm taking care of the fees by making you actual more capital to replace it. I wrote an article recently about vetting an investment advisor. Lesley Logan 33:29 Cool. Steve Selengut 33:30 And that was one of the things that I said, you know? Number one is look at his portfolio first and if what he's got you in is not in his personal portfolio, find out why. I mean, your objectives may be different, but if your stuff sounds more speculative than his stuff, you don't want to take advice from somebody who doesn't have as much money as you do. Lesley Logan 33:52 Yeah. Steve Selengut 33:52 So the young guy just getting started, he's not the one you want as your financial advisor. And I learned that quick when I started, because I had my first two clients to get started with. I don't think I got another client for six or eight months, you know. So there are things to do when you're with your advisor, and one of the things is, take a look at his portfolio, make him assure you that he will take at least enough profits to pay his fees, and that he will produce at least 4% in income on your portfolio. And why do I say 4% because if you ask for advisors as you approach retirement, the key number is you'll have to use 4% of your market value each year to pay your expenses in retirement, unless you're like you and I, where we're going to make enough money while we're working that it's going to provide more than the amount we were making when we were working. Lesley Logan 33:52 Yeah, yeah. Steve Selengut 33:53 That's our objective. Lesley Logan 33:54 Yeah. Steve Selengut 33:54 But normally, people are going to spend about 4% of their market value. So since you're telling me that that's what's going to happen, I want you to make me at least 4% so that means you're going to make me 4% plus one and a half percent every year in income. You can grow the portfolio with the rest of the portfolio all you want, but that's the income I want you to start producing now.Lesley Logan 35:22 I like this, okay, that article you wrote, I would love to link to it, or you can, you know, put it behind a lead magnet. I think it's such a cool way for people to be armed with that because they don't have that information.Steve Selengut 35:34 It's on LinkedIn. Lesley Logan 35:35 It's on LinkedIn. Steve Selengut 35:36 It's on my profile or my articles. Lesley Logan 35:38 Okay, cool, cool. Steve Selengut 35:39 It's the last article I wrote. Lesley Logan 35:41 We will link to your LinkedIn for sure. We're going to take a brief break, and then we're going to find out where people can find you, follow you, work with you and your Be It Action Items. Lesley Logan 35:49 All right, Steve, where do you hang out? LinkedIn, sounds like and you said you advise people or you coach them. How can people connect with you? Steve Selengut 35:56 Theincomecoach.net I have two Facebook groups. One is called The Retirement Income Independence Coach and the other one is called Closed End Funds for Retirement Income and Equity Trading.Steve Selengut 36:05 Cool. You are busy for someone who is retired. Steve Selengut 36:14 Yeah, right. I get that a lot. I'm busier now schedule-wise than I was when I was managing money, because that was a, you know, couple hours in the morning, couple hours in the evening. Now it's all day long, with podcasts, writing a book, coaching, meetings and so on. Lesley Logan 36:33 And speaking of your book, Retirement Money Secrets, where can people order that? Can they get it wherever books are sold? Can they get it at your website? Where should they (inaudible)? Steve Selengut 36:33 Wherever books are sold, they can get it. The audiobook is only available on Amazon. All the other forms can be gotten anywhere. Lesley Logan 36:39 Yeah, well, you guys, it's money. You should probably read it instead of listen to it, because you want to be able to highlight, research, all that stuff. Amazing. Okay, you've given us a ton of amazing stuff already. But for the person who is ready to take some action, bold, executable, intrinsic, targeted steps people can take to be it till they see it. What do you have for us? Steve Selengut 37:06 Bold execution things is the one that I just asked you to do. Take a look at your portfolios and look at the actual income production, where it says dividends received this year or amount you can expect to receive this year with the portfolio just as it is, and see what that is as a percentage of your portfolio. And then the second action thing is, either yourself or your advisor approach them and say, I want that number to be about between four and 5%.Lesley Logan 37:06 I love it. I'm gonna take you up on that before I even do this recap, because I have a meeting with my advisor. So already scheduled. It's to go over, it's to go over my rest of my year. And am I supposed to be spending a little bit of money? Am I supposed to be investing in a certain way? How can I make that tax write off a little bit different? So I got a big meeting. I'm going to add this to it. I know that, especially for those of you who are over 40, you've got a lot going on. It can be just really overwhelming. But honestly, the more you educate yourself, the more these terms and words don't seem so crazy. And you can start with where you're at. And if you're going to start with an advisor, you can read Steve's article on how to vet them, and you can demand that they do that. And you know what? That's kind of why they have a job. So they can certainly rise to the occasion if they can't go find someone else. Until you want to be like Steven, do it yourself, which is impressive and amazing. Thank you so much. Until next time everyone, Be It Till You See It. Lesley Logan 38:43 That's all I got for this episode of the Be It Till You See It Podcast. One thing that would help both myself and future listeners is for you to rate the show and leave a review and follow or subscribe for free wherever you listen to your podcast. Also, make sure to introduce yourself over at the Be It Pod on Instagram. I would love to know more about you. Share this episode with whoever you think needs to hear it. Help us and others Be It Till You See It. Have an awesome day. Be It Till You See It is a production of The Bloom Podcast Network. If you want to leave us a message or a question that we might read on another episode, you can text us at +1-310-905-5534 or send a DM on Instagram @BeItPod.Brad Crowell 39:26 It's written, filmed, and recorded by your host, Lesley Logan, and me, Brad Crowell.Lesley Logan 39:31 It is transcribed, produced and edited by the epic team at Disenyo.co.Brad Crowell 39:35 Our theme music is by Ali at Apex Production Music and our branding by designer and artist, Gianfranco Cioffi.Lesley Logan 39:42 Special thanks to Melissa Solomon for creating our visuals.Brad Crowell 39:45 Also to Angelina Herico for adding all of our content to our website. And finally to Meridith Root for keeping us all on point and on time.Support this podcast at — https://redcircle.com/be-it-till-you-see-it/donationsAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy
Ilaria Resta is the CEO of Audemars Piguet, one of the world's oldest and most exclusive luxury watch brands, renowned for its tradition of craftsmanship and innovation. Before leading AP, Ilaria served as President and CEO of Firmenich, a family-owned Swiss company that creates perfumes for iconic brands like Saint Laurent, Gucci, and Hugo Boss, with annual revenues exceeding $3 billion. Her career began at Procter & Gamble, where she spent 23 years shaping some of the most recognizable consumer brands, including Tide, Pantene, and Head & Shoulders. Born and raised in Naples, Italy, Ilaria's journey from modest beginnings to the pinnacle of luxury and leadership exemplifies her values of resilience, learning, and leaving a meaningful legacy. Ilaria offers invaluable insights into leadership, breaking barriers, and the art of building lasting relationships.Timestamps:00:00 – Introduction: Ilaria Resta on Love, Learning, and Legacy01:47 – The Watch Market: Who Buys Luxury Watches and Why?06:20 – Emotional Connections: Watches as Memory Holders and Style Statements12:08 – Women in Watchmaking: Closing the Gender Gap in Luxury Watches16:54 – Limited Supply: Why AP Watches Are Hard to Find and the Secondary Market20:00 – Rule-Breaking in Watchmaking: Innovation and Pushing Boundaries26:14 – Collaborations with Collectors and Artists: The John Mayer Example30:00 – Work-Life Balance: Advice for Women and Men on Choosing Success34:47 – Closing Reflections: Love What You Do, Learn Constantly, and Leave a LegacyResources:Ilaria's LinkedInAudemars Piguet WebsiteAudemars Piguet Instagram Want to Connect? Reach out to us online!Instagram | 1-on-1 Coaching | YouTube | TikTok | LinkedIn
Andrew, Ben, and Tom discuss the latest on tariffs, the new sovereign wealth fund, and ISM manufacturing data. For information on how to join the Zoom calls live each morning at 8:30 EST, visit:https://www.narwhal.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhal.com/disclosure
Over the past five years, the cost of homeownership has seen a significant increase, making it more challenging for many individuals and families to afford buying a home. Several factors have contributed to this trend:Rising Home Prices: One of the primary drivers of increased homeownership costs is the surge in home prices across many regions. Demand for housing has outpaced supply in numerous areas, leading to bidding wars and inflated prices.Interest Rates: While interest rates remained historically low for several years, they have started to rise in recent times. Higher interest rates mean increased mortgage payments, making homeownership more expensive.Property Taxes: Property taxes have also increased in many areas, driven by rising home values and budgetary needs of local governments. These taxes add to the overall cost of homeownership.Insurance Costs: The cost of homeowners insurance has been on the rise, particularly in regions prone to natural disasters such as hurricanes, wildfires, and floods. Insurance premiums can significantly add to the financial burden of owning a home.Maintenance and Repairs: As homes age, they require more maintenance and repairs. The cost of materials and labor for home improvement projects has increased over the past few years, making it more expensive for homeowners to keep their properties in good condition.Regulatory Costs: Compliance with building codes, zoning regulations, and other legal requirements can add to the cost of homeownership, especially for new construction or renovations.These cumulative increases in homeownership costs have made it increasingly difficult for many people to afford to buy a home. As a result, homeownership rates have stagnated or declined in some areas, particularly among younger generations who may struggle to save for a down payment and qualify for a mortgage in the face of these rising costs. Additionally, the disparity between income growth and housing costs has widened, exacerbating affordability challenges for low- and middle-income households. Overall, the combination of factors contributing to the rising cost of homeownership has made it a significant financial challenge for many individuals and families.In this episode, we explore the issue.(commercial at 9:15)to contact me:bobbycapucci@protonmail.comsource:The average US house now requires a salary of $106k-a-year - $50k more than in 2020.... how much is needed in YOUR hometown? | Daily Mail Online