Podcast appearances and mentions of Sam Zell

Navigating Risk, Noise, and Uncertainty: Barry Ritholtz on Investing in a Volatile World   In my conversation with Barry Ritholtz, chairman of Ritholtz Wealth Management and host of Bloomberg's “Masters in Business” podcast, we explored market and real estate cycles, caution, and capital allocation in today's increasingly unpredictable economic environment. Below are the most actionable and provocative takeaways for real estate investors, both passive and professional, drawn from Barry's decades of lessons and market observations.   Origins of Insight: From Blog to Bloomberg Ritholtz didn't set out to run a multi-billion-dollar firm. What started as daily trading notes eventually evolved into a blog, a book, Bailout Nation, and a platform that positioned him to correctly call both the top and bottom of the 2008 financial crisis. This journey, grounded in curiosity and behavioral finance, shaped the contrarian and data-driven approach he still employs today.   "I just wanted to know why some people made money while others didn't doing the same thing."   The 2008 Playbook: Behavioral Edge Over Economic Models Ritholtz attributes his early warning of the Global Financial Crisis (GFC) to non-traditional thinking and real estate roots (his mother was a real estate agent). Observing abnormal refinancing activity and "cash-out mania" led him to investigate securitized debt and derivative risk, well before it was mainstream.   He reverse-engineered risk from Reinhart & Rogoff's crisis research and famously predicted the Dow's decline to ~6,800—earning mockery initially, then vindication.   Echoes of 2008? Why This Time Feels Precarious While he stops short of predicting a crisis, Ritholtz allows for a 10–15% probability of a self-inflicted depression – a worst-case scenario rooted not in structural weakness, but political mismanagement.   “It [is an] asymmetrical risk to take one bullet, put it in a six shooter, spin the wheel, and put it up against your head with a $28 trillion economy.”   From tariffs to immigration policy to fiscal gamesmanship, Ritholtz sees signs that the U.S. may be eroding the long-standing trust that underpins reserve currency status and global capital flows.   Cash Isn't a Plan, Discipline Is When asked whether it makes sense to sit in cash and wait out the next downturn, Ritholtz counters with behavioral caution. Historically, those who “go to cash” rarely reenter at the right time and often miss the rebound entirely.   “If you're going to sit out in cash, do you have the temperament, the discipline to get back in?” Instead, he recommends building resilience: modest leverage, long-term focus, and capital efficiency – hallmarks of legends like Sam Zell, who Ritholtz holds up as a model of disciplined real estate investing.   A Word on Leverage: Use with Extreme Care High leverage is the common thread in stories of ruin. Ritholtz referenced the downfall of the Peloton CEO, who borrowed heavily against inflated stock. The same caution applies to over-leveraged real estate investors, especially those who haven't endured a full cycle.   “Market crashes are where capital returns to its rightful owners.”   For CRE sponsors, now is the time to refinance where possible, preserve cash, and maintain flexibility, even if that means lower IRR projections.   How to Filter the Noise: Create an Information Diet Ritholtz emphasized the need to tune out “financial candy from strangers” – the firehose of social media, Substacks, and hot takes by unvetted commentators.   “They don't know your zip code, your goals, your tax bracket. Why would you trust them?” He recommends identifying a shortlist of credible voices with defined, rational processes and a record of sound judgment. “Build your A-Team,” he advises. “Then ignore the rest.”   Real Estate Today: Not Monolithic, but Multifaceted Unlike equities, real estate behaves very differently depending on location, asset class, and capital structure. While some sectors (e.g., Class B office) remain distressed, others (e.g., data centers, multifamily in select markets, industrial) are faring relatively well.   “Literally, there are properties [Zell] held for half a century. He was long term… used modest amounts of leverage, and he bought great properties at even better prices.”   Ritholtz warns against painting real estate with a broad brush and urges nuanced thinking about cycles, risk-adjusted return, and operator quality.   Sentiment vs. Signals: What to Watch Now While he downplays the predictive power of investor sentiment, Ritholtz monitors: Three-month moving averages of non-farm payrolls Rounded tops in S&P earnings trends Residential real estate supply conditions in key metros Dollar strength (as a proxy for confidence and capital flows) “If the dollar keeps falling and supply starts rising in housing markets, it's time to pay attention.”   Dollar, Debt, and the Doomsayers Ritholtz is blunt about the debt debate. He finds most public discourse alarmist and often wrong. With the U.S. still enjoying reserve currency privileges, he sees no imminent collapse but warns against complacency.   “We've been hearing the deficit will destroy America for 50 years. It hasn't. But bad policy could.”   He is more concerned with underinvestment in infrastructure and human capital than with rising debt levels per se.   Closing Counsel for Investors For those sitting on fresh capital, say $1 million, Ritholtz advises: Clarify your goals (retirement, education, housing). Max out tax-advantaged accounts. Build a core of low-cost index exposure. Don't chase alpha before securing beta. Avoid overcomplexity: “Two dozen funds is not a portfolio.” His parting message? Discipline beats prediction. And humility is a superpower.   Final Thought “Everyone is faking it to some degree. The real danger isn't what you don't know – it's not knowing what you don't know.”   In an age of volatility and noise, Ritholtz's framework stands out: stay informed, stay skeptical, and invest like risk is real – because it is.   *** In this series, I cut through the noise to examine how shifting macroeconomic forces and rising geopolitical risk are reshaping real estate investing.   With insights from economists, academics, and seasoned professionals, this show helps investors respond to market uncertainty with clarity, discipline, and a focus on downside protection.    Subscribe to my free newsletter for timely updates, insights, and tools to help you navigate today's volatile real estate landscape. You'll get: Straight talk on what happens when confidence meets correction - no hype, no spin, no fluff. Real implications of macro trends for investors and sponsors with actionable guidance. Insights from real estate professionals who've been through it all before. Visit GowerCrowd.com/subscribe Email: adam@gowercrowd.com Call: 213-761-1000

Pocast này cung cấp cái nhìn sâu sắc về triết lý kinh doanh đối lập (contrarian) và cuộc đời của doanh nhân tỷ phú Sam Zell, tập hợp các ý chính từ podcast, phỏng vấn và bài viết. Nó nhấn mạnh cách tiếp cận độc đáo của Zell, bao gồm việc đi ngược lại đám đông, duy trì sự tò mò không ngừng và tập trung vào các nguyên tắc cơ bản như dòng tiền và quản lý rủi ro. Nó cũng nêu bật phong cách giao tiếp thẳng thắn, sự coi trọng tính thanh khoản và giá trị, và tầm quan trọng của việc xây dựng các mối quan hệ bền vững. Cuối cùng, nó phác thảo tư duy không ngừng học hỏi và khả năng phục hồi trước thất bại của Zell, cùng với tự do như một giá trị cốt lõi.—Sam Zell (1941–2023) là một tỷ phú người Mỹ, nổi tiếng với vai trò tiên phong trong lĩnh vực quỹ đầu tư bất động sản (REIT). Sinh ra tại Chicago trong gia đình di dân gốc Ba Lan, Zell thành lập Equity Group Investments năm 1968, xây dựng đế chế đầu tư trải rộng từ bất động sản, năng lượng đến truyền thông. Được mệnh danh là "Grave Dancer" nhờ khả năng hồi sinh các tài sản gặp khó khăn, ông để lại dấu ấn với thương vụ bán Equity Office trị giá 39 tỷ USD năm 2007. Zell cũng là một nhà từ thiện, đóng góp lớn cho giáo dục và khởi nghiệp, đặc biệt tại Đại học Michigan To hear more, visit changngocgia.substack.com

Today's episode features the most memorable investments from Jeremy Grantham, John Arnold and Sam Zell. (0:00) Starts (0:53) Jeremy Grantham (5:25) John Arnold (8:24) Sam Zell To listen to the full episodes, click the links below: Jeremy Grantham I: Apple, Spotify, YouTube Jeremy Grantham II: Apple, Spotify, YouTube John Arnold: Apple, Spotify, YouTube Sam Zell: Apple, Spotify, YouTube ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Crain's residential real estate reporter Dennis Rodkin talks with host Amy Guth about news from the local housing market, including counties suing Illinois over delinquent tax sales the Supreme Court calls unconstitutional.Plus: Durbin not seeking re-election, Chicago developer set to buy riverfront office building from Sam Zell estate, Capital One profit climbs 10% as credit-card spending increases, Exelon CEO says clean energy no longer tops agenda for utilities, and with growing list of Trump suits, Illinois AG seeks $15 million budget bump. 

Millions of investors are obsessed with the direction of interest rates. While that's a noble pursuit, there's a huge opportunity created by this distraction as far as mobile home parks are concerned. In this Mobile Home Park Mastery podcast we're going to discuss why the late Sam Zell quote of “when everyone's looking left, look right” applies to much of what's going on right now.

What I learned from having an intense and fun 3 hour dinner with Michael Ovitz. 1: Mediocrity is always invisible until passion shows up and exposes it.2: There's no ceiling on where you can push your profession.3: Don't be unequally yoked. Pick partners that have the same ambition as you.4: Read biographies. Know everything about the history of your industry.5. Have a profound sense of belief. The world is very malleable. 6: There's opportunity hiding in plain sight.7: By endurance we conquer. 8: Work 10% less. Optimize for the long term. 9. Surround yourself with people who will tell you the truth.10: Retirement is lame.----Ramp gives you everything you need to control spend, watch your costs, and optimize your financial operations —all on a single platform. Make history's greatest entrepreneurs proud by going to Ramp and learning how they can help your business control your costs and save more. ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work.  Get access to Founders Notes here. ----Join my free email newsletter to get my top 10 highlights from every book ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here. ----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast

In this solo episode, Casey kicks off 2025 by sharing his renewed focus on foundational habits and the inspiration they bring to living an excellent life. Reflecting on personal routines, he highlights two practices: revisiting his long-standing commitment to a book-a-week (or month) challenge and embracing Jocko Willink's 10-minute burpee routine as a mental and physical game-changer.Casey dives into Am I Being Too Subtle? by legendary entrepreneur Sam Zell, unpacking Zell's unique journey and the five principles that defined his success: thinking contrarian, managing risk, valuing relationships, keeping things simple, and staying curious. Through Zell's incredible stories—like building a real estate empire, crafting billion-dollar deals, and forging lifelong partnerships—Casey explores timeless lessons that resonate in both business and life.This episode offers practical insights for starting the year with intention, learning from extraordinary lives, and adopting habits that drive success, fulfillment, and joy in 2025. Hosted on Acast. See acast.com/privacy for more information.

How can individuals cultivate a sense of contentment and focus on personal financial goals without falling into the trap of comparing themselves to others?Eric Pennington talks with financial planning expert Mike Perez, CFP, CKA, CAP, to discuss the critical connection between our emotions and money decisions. Throughout the conversation, they tackle the challenges of financial planning, including managing emotional influences. The episode also covers practical advice on managing finances during politically turbulent times, the pitfalls of emotional spending, and the importance of honest financial disclosure akin to a medical consult. Mike and Eric discuss the science of reducing client anxiety and the essential role of financial advisors in helping clients avoid emotional pitfalls in investment decisions. This episode reveals how emotional intelligence plays a pivotal role in achieving financial peace, contentment, and smart decision-making. Top Takeaways1. **Timing and Deals**: Mike Perez advises the importance of finding deals at the right time, advocating for strategic patience in financial decisions.2. **Contrarian Investment Strategy**: The discussion highlights Sam Zell's approach of investing against the norm, suggesting this can often lead to better financial outcomes.3. **Historical Wisdom**: Mike recounts a story about Joseph Kennedy who exited the stock market before the Great Depression, illustrating the value of recognizing when to step out of the market.4. **Client Engagement and Fit**: Effective financial planning requires clients who are coachable, open to sharing information, and have legitimate needs. Ensuring a good fit between advisor and client is crucial.5. **Impact of Emotions**: Both Eric and Mike emphasize how emotions heavily influence financial decisions, often leading to poor financial choices if not properly managed.6. **Communication in Couples**: Financial planning often involves mediating between couples to ensure shared goals and effective money management, crucial for preventing relationship strain and divorce.7. **Spending Plans and Emotional Regulation**: A structured spending plan and taking breaks to curb emotional spending can lead to better financial decisions and less impulsive spending habits.8. **Forward-Thinking Over Comparison**: Mike recommends focusing on future goals instead of making decisions based on comparisons with others, to avoid dissatisfaction and financial missteps.9. **Behavior Over Information**: In the age of accessible information, Perez stresses that personal beliefs, behaviors, and emotional intelligence are more valuable than mere knowledge.10. **Integrating Faith with Finance**: The integration of faith into financial practices can lead to greater peace, joy, and contentment, as exemplified by Mike's personal journey and insights shared in his book on faith, finance, and generosity.Key Moments00:00 Early money beliefs impact adult financial behavior.05:39 Financial planners assess clients' money beliefs.09:51 Focus on contentment, avoid comparison and regret.13:50 Invest without emotion; prioritize long-term objectives.14:40 Rely on certified financial planners for advice.19:07 Coachable and vulnerable clients are essential for success.22:55 Stress-free zone; assess working relationship fit.25:04 Full disclosure essential in challenging relationships.28:26 Forces busy couples to address financial planning.31:41 Balance spending: Pause before emotional purchases.35:12 Money management: owe, grow, live, give categories.40:04 Education fails to teach healthy money habits.42:10 Behavior tied to emotions is very powerful.47:32 Faith-inspired financial journey fosters peace and generosity.49:25 Politics feels...

Get more notes at https://podcastnotes.org Thank you for subscribing. Leave a comment or share this episode.

You can learn about doing something all day, but it's about taking what you've learned and putting it into action. In this episode, Dr. Steve talks about Sam Zell and shares his fascinating journey of how a 14-year-old kid went from re-selling Playboy Magazines to becoming one of the most successful real estate moguls of all time. Sam had no fear of risk when the reward was great. How many opportunities are you missing because you're afraid of the risk? Wake Up Humans,  GO OUT AND GET IT. For more information and to find Steve Judson's books & merchandise, visit WakeUpHumans.org

Brad Jacobs is one of the most talented living entrepreneurs. Brad has started 8 different billion dollar or multi-billion dollar businesses. He has done over 500 acquisitions and has raised over $30 billion. He started his first company at 23, has over 40 years of experience as an entrepreneur, and is the most energetic person I have ever been around. Earlier this year he published his life story: How to Make a Few Billion Dollars. How to Make a Few Billion Dollars was one of my favorite books that I've read this year and the episode I made about the book was one of the most popular episodes of Founders.This episode is what I learned from having breakfast with Brad Jacobs and reading his book How to Make a Few Billion Dollars ----Ramp gives you everything you need to control spend, watch your costs, and optimize your financial operations —all on a single platform. Make history's greatest entrepreneurs proud by going to Ramp and learning how they can help your business control your costs and save more. ----Join my free email newsletter to get my top 10 highlights from every book----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast

Crain's residential real estate reporter Dennis Rodkin and host Amy Guth chat about news from the local housing market, including the city's delay on enforcing a new anti-gentrification ordinance.Plus: S&P warns it may downgrade Chicago's credit rating amid budget fight, Sam Zell estate puts riverfront office building up for sale, boaters will finally be able to dock at Navy Pier next year and CBRE nearing deal for new Chicago office.

Today, I am delighted to welcome Scott Peppet, President of Chai Trust Company, the private company that administers trusts established for the benefit of members of Sam Zell's family and that serves as the Zell family office. Scott was a Professor of Law at the University of Colorado from 2000-2018, where he focused on bargaining and dispute resolution, transactional law, and the complexities of multigenerational family enterprises. He is also an ordained priest and transmitted Soto Zen teacher in the related lineages of Kobun Chino Otakawa and Keibun Otakawa. He practices at the Hakubai Zen Center in Boulder, CO. Scott is a good friend of FOX, and he and the Chai Trust Company are long-time valued members of FOX and are very generous and insightful contributors to the FOX community. Throughout his career, Scott has seen and participated in his fair share of enterprise family journeys and has had the opportunity to observe and synthesize what it takes for families and their family offices to be successful. He shares his views and accumulated wisdom on the subject of what it takes for a family to be successful in the long run. We at FOX think and talk a lot about the concept of time capital – how we all deploy our most precious and finite asset. Scott points out that a simple yet powerful way to assess and guide the strategic role and effectiveness of a family office is to look at how it allocates and spends its resources – especially, how the family office leaders and employees spend their time. He describes the importance of – and potential cognitive dissonance associated with – how family office time capital is managed and expended. One practical suggestion Scott offers to families and their family offices is to invest in cultivating, educating, and engaging the whole ecosystem of human and intellectual capital that serves the family – not just the family members, but also the family office employees, and even all the external advisors who are integral to the family enterprise. To up-level and educate an entire system is such a tremendous undertaking and families are not the only ones who can and should lead and invest in it. All the other participants in the ecosystem also have a part to play. Scott provides his views on what family office executives and employees, as well as external advisors, should do to ensure the entire enterprise family ecosystem is flourishing. This is a must-hear conversation with one of the most prominent and celebrated thought leaders, practitioners, and enterprise family leaders in the family wealth and family office field.

On today's episode, Clay reviews the wonderful book — Am I Being Too Subtle by Sam Zell.  Sam Zell has an impressive background, having started his career in real estate in the late 1960s.  He was the founder and chairman of Equity Group Investments, a leading private investment firm. Over the course of his career, Sam made many bold moves and investments, earning him a reputation as a savvy and fearless investor. One of Sam's most notable achievements was his role in creating the modern-day real estate investment trust (REIT) industry. He did this by founding Equity Office Properties Trust in 1997, which became the largest office REIT in the United States. In 2007, he sold the company for a record-breaking $39 billion. Just prior to passing away on May 18th, 2023, Sam had his final recorded interview with The Investor's Podcast Network. IN THIS EPISODE YOU'LL LEARN: 00:00 - Intro 07:38 - The story of Sam's family escaping Poland in 1939 to head to the United States. 12:08 - Sam's early entrepreneurial and real estate ventures. 28:15 - How Sam got the nickname as ‘The Grave Dancer' within the real estate industry. 32:46 - Sam's investment criteria when buying real estate. 33:36 - How Sam capitalized on finding bargains outside the real estate industry. 50:56 - An overview of Zell's record-breaking deal in 2007. 59:12 - Sam's critical insights into building a great culture. 01:06:54 - Sam's key business principles that helped him become a billionaire. And so much more! Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Sam's book. Related Episode: Listen to TIP552: Mastering The Art of Investing: A Deep Dive w/ Sam Zell, or watch the video. Follow Clay on Twitter. Check out all the books mentioned and discussed in our podcast episodes here. Enjoy ad-free episodes when you subscribe to our Premium Feed. NEW TO THE SHOW? Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: River 7-Eleven Toyota Daloopa Bluehost TastyTrade Miro Public American Express The Bitcoin Way ReMarkable Fundrise Facet Onramp SimpleMining Vanta Shopify HELP US OUT! Help us reach new listeners by leaving us a rating and review on Spotify! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Founders ✓ Claim Key Takeaways  Some failure is inevitable; learn from it, do not beat yourself up over it, and keep moving forwardBusiness is not a battle to be waged; it is a puzzle to be solved True entrepreneurs never fail; sometimes the business venture doesn't work out for them, but they never fail Go to where it is less crowded; there is no substitute for limited competition Be someone that people make money with Have a long-term view and do not sacrifice your ability to do future deals by burning bridges to close the current one If you love what you do, then you will get really good at it and do it for a long time;money will come as a resultThe true test of an entrepreneur is someone who spends his life constantly testing his limits “Fear and courage are cousins – and very closely related.” – Sam Zell Read the full notes @ podcastnotes.orgWhat I learned from reading Money Talks, Bullsh*t Walks: Inside the Contrarian Mind of Billionaire Mogul Sam Zell by Ben Johnson.----Ramp gives you everything you need to control spend, watch your costs, and optimize your financial operations —all on a single platform. Make history's greatest entrepreneurs proud by going to Ramp and learning how they can help your business control your costs and save more. ----Founders Notes gives you the superpower to learn from history's greatest entrepreneurs on demand. You can search all my notes and highlights from every book I've ever read for the podcast. Get access to Founders Notes here. ----Join my free email newsletter to get my top 10 highlights from every book----Follow Founders Podcast on YouTube (Video coming soon!) ----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast

Founders ✓ Claim Key Takeaways  Some failure is inevitable; learn from it, do not beat yourself up over it, and keep moving forwardBusiness is not a battle to be waged; it is a puzzle to be solved True entrepreneurs never fail; sometimes the business venture doesn't work out for them, but they never fail Go to where it is less crowded; there is no substitute for limited competition Be someone that people make money with Have a long-term view and do not sacrifice your ability to do future deals by burning bridges to close the current one If you love what you do, then you will get really good at it and do it for a long time;money will come as a resultThe true test of an entrepreneur is someone who spends his life constantly testing his limits “Fear and courage are cousins – and very closely related.” – Sam Zell Read the full notes @ podcastnotes.orgWhat I learned from reading Money Talks, Bullsh*t Walks: Inside the Contrarian Mind of Billionaire Mogul Sam Zell by Ben Johnson.----Ramp gives you everything you need to control spend, watch your costs, and optimize your financial operations —all on a single platform. Make history's greatest entrepreneurs proud by going to Ramp and learning how they can help your business control your costs and save more. ----Founders Notes gives you the superpower to learn from history's greatest entrepreneurs on demand. You can search all my notes and highlights from every book I've ever read for the podcast. Get access to Founders Notes here. ----Join my free email newsletter to get my top 10 highlights from every book----Follow Founders Podcast on YouTube (Video coming soon!) ----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast

What I learned from rereading Random Reminiscences of Men and Events by John D. Rockefeller. ----Ramp gives you everything you need to control spend, watch your costs, and optimize your financial operations —all on a single platform. Make history's greatest entrepreneurs proud by going to Ramp and learning how they can help your business control your costs and save more. ----Founders Notes gives you the superpower to learn from history's greatest entrepreneurs on demand. You can search all my notes and highlights from every book I've ever read for the podcast. Get access to Founders Notes here. ----Join my free email newsletter to get my top 10 highlights from every book----Follow Founders Podcast on YouTube (Video coming soon!) ----Notes and highlights from the episode: It has not been my custom to press my affairs forward into public gaze. (Bad boys move in silence)My favorite biography on Rockefeller John D: The Founding Father of the Rockefellers by David Freeman Hawke. (Founders #254)Secrecy covered all of his operations.Taking for granted the growth of his empire, he hired talented people as found, not as needed. — Titan: The Life of John D. Rockefeller by Ron Chernow. (Founders #248) We had been frank and aboveboard with each other. Without this, business associates cannot get the best out of their work.Rockefeller said Jay Gould was the best businessman he knew. Jay Gould books and episodes: American Rascal: How Jay Gould Built Wall Street's Biggest Fortune by Greg Steinmetz (Founders #285) and Dark Genius of Wall Street: The Misunderstood Life of Jay Gould, King of the Robber Barons by Edward J. Renehan Jr. (Founders #258) "If I have to choose between agreement and conflict, I'll take conflict every time. It always yields a better result." — Jeff BezosIt's a pity to get a man into a place in an argument where he is defending a position instead of considering the evidence. His calm judgment is apt to leave him, and his mind is for the time being closed, and only obstinacy remainsI like doing deals with the same people. You get to know each other and build a mutual sense of trust. Today, a lot of what I do originates from associations that go back ten, twenty, thirty, even forty years. — Am I Being Too Subtle?: Straight Talk From a Business Rebel by Sam Zell.Writing a check separates conviction from conversation. — Warren BuffettWe had with us a group of courageous men who recognized the great principle that a business cannot be a great success that does not fully and efficiently accept and take advantage of its opportunities. (Do everything and you will win)Such was Rockefeller's ingenuity, his ceaseless search for even minor improvements. Despite the unceasing vicissitudes of the oil industry, prone to cataclysmic booms and busts, he would never experience a single year of loss. — Titan: The Life of John D. Rockefeller by Ron Chernow. (Founders #248)Last Train to Paradise: Henry Flagler and the Spectacular Rise and Fall of the Railroad that Crossed an Ocean by Les Standiford. #247 Henry Flagler (Rockefeller's Partner)Rockefeller on the impact Henry Flagler had on the beginning of Standard Oil: He always believed that if we went into the oil business at all, we should do the work as well as we knew how; that we should have the very best facilities; that everything should be solid and substantial; and that nothing should be left undone to produce the finest results. And he followed his convictions of building as though the trade was going to last, and his courage in acting up to his beliefs laid strong foundations for later years. (Build a first class business in a first class way)Young people should realize how, above all other possessions, is the value of a friend in every department of life without any exception whatsoever.When you recruit A players you don't tell them here's 5 things I want you to focus on. Here's your top 10 priorities. NO. You've got one priority. Destroy that priority. Do it more than anybody else possibly will. (Henry Flagler's main priority was controlling the cost of transportation.)Larry Ellison: You don't want turnover on your core product team. Knowledge compounds. Don't interrupt the compounding. — Softwar: An Intimate Portrait of Larry Ellison and Oracle by Matthew Symonds. (Founders #124) We were accustomed to prepare for financial emergencies long before we needed the funds. (Keep a fortress of cash)It is impossible to comprehend Rockefeller's breathtaking ascent without realizing that he always moved into battle backed by abundant cash. Whether riding out downturns or coasting on booms, he kept plentiful reserves and won many bidding contests simply because his war chest was deeper. — Titan: The Life of John D. Rockefeller by Ron Chernow. (Founders #248)I learned to have great respect for figures and facts, no matter how small they were.This casual way of conducting affairs did not appeal to me.As our successes began to come, I seldom put my head upon the pillow at night without speaking a few words to myself: "Now a little success, soon you'll fall down, soon you'll be overthrown. Because you've got a start, you think you're quite a merchant; look out, or you will lose your head—go steady." These intimate conversations with myself had a great influence on my life. I was afraid I couldn't stand my prosperity, and tried to teach myself not to get puffed up with any foolish notions. (If you go to sleep on a win you'll wake up with a loss)I hope they were properly humiliated to see how far we had gone beyond their expectations. (Chips on shoulders put chips in pockets) 98 percent of our attention was devoted to the task at hand. We are believers in Carlyle's Prescription, that the job a man is to do is the job at hand and not see what lies dimly in the distance. — Charlie Munger in Buffett: The Making of an American Capitalist by Roger Lowenstein. (Founders #182) Rockefeller on Standard Oil stock: Sell everything you've got, even the shirt on your back, but hold on to the stock.All business proceeds on belief: Trying to run a company without a set of beliefs is like trying to steer a ship without a rudder. — Four Seasons: The Story of a Business Philosophy by Isadore Sharp (Founders #184)  Rockefeller on his “unintelligent competition”: We had the type of man who really never knew all the facts about his own affairs. Many kept their books in such a way that they did not actually know when they were making money or when they were losing money.A few weeks later, the newspapers announce his new partnership—revealing who had backed his bid—and the news that Rockefeller is, at twenty-five, an owner of one of the largest refineries in the world. On that day his partners “woke up and saw for the first time that my mind had not been idle while they were talking so big and loud,” he would say later. They were shocked. They'd seen their empire dismantled and taken from them by the young man they had dismissed. Rockefeller had wanted it more.  — Conspiracy by Ryan Holiday At best it was a speculative trade, and I wonder that we managed to pull through so often; but we were gradually learning how to conduct a most difficult business.A blueprint for success in any endeavor: Low prices to the customer. Root out any inefficiency. Pay for talent. Control expenses. Invest in technology.We devoted ourselves exclusively to the oil business and its products. The company never went into outside ventures, but kept to the enormous task of perfecting its own organizationThe fastest way to move a dial is narrow the focus. People naturally resist focus because they can't decide what is important. Therein lies a problem: people can typically tell you after some deliberation what their top three priorities are, but they struggle to decide on just one. What is too much and what is too little focus? Do you ever even discuss this? Most teams are not focused enough. I rarely encountered a team that employed too narrow an aperture. It goes against our human grain. People like to boil oceans. Just knowing that can be to your advantage. When you narrow focus, you are increasing the resourcing on the remaining priority. —  Amp It Up by Frank Slootman Two people can run the same business and have vastly different results: Perhaps it is worth while to emphasize again the fact that it is not merely capital and "plants" and the strictly material things which make up a business, but the character of the men behind these things, their personalities, and their abilities; these are the essentials to be reckoned with. When it comes to competition, being one of the best is not good enough. Do you really want to plan for a future in which you might have to fight with somebody who is just as good as you are? I wouldn't. — Jeff Bezos in Invent and Wander: The Collected Writings of Jeff BezosDon't even think of temporary or sharp advantages. Don't waste your effort on a thing which ends in a petty triumph unless you are satisfied with a life of petty success.Study diligently your capital requirements, and fortify yourself fully to cover possible set-backs, because you can absolutely count on meeting setbacks.Do not to lose your head over a little success, or grow impatient or discouraged by a little failure.Know your numbers. You need to know your business down to the ground.Money comes naturally as a result of service (Henry Ford)Don't do anything that someone else can do (Edwin Land)The man will be most successful who confers the greatest service on the world.Commercial enterprises that are needed by the public will pay. Commercial enterprises that are not needed fail, and ought to fail.Dedicate your life to building something that contributes to the progress and happiness of mankind.----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast

What I learned from reading Money Talks, Bullsh*t Walks: Inside the Contrarian Mind of Billionaire Mogul Sam Zell by Ben Johnson.----Ramp gives you everything you need to control spend, watch your costs, and optimize your financial operations —all on a single platform. Make history's greatest entrepreneurs proud by going to Ramp and learning how they can help your business control your costs and save more. ----Founders Notes gives you the superpower to learn from history's greatest entrepreneurs on demand. You can search all my notes and highlights from every book I've ever read for the podcast. Get access to Founders Notes here. ----Join my free email newsletter to get my top 10 highlights from every book----Follow Founders Podcast on YouTube (Video coming soon!) ----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast

What I learned from reading How To Succeed in Mr. Beast Production and how ideas from Sam Zell, Charlie Munger, Nick Sleep, Warren Buffett, Sam Zemurray, Bob Kierlin, Steve Jobs, Li Lu, Edwin Land, Larry Ellison, Bill Gates, Jeff Bezos, James Cameron, Anna Wintour, Walt Disney, Bernard Arnault, and Brad Jacobs immediately came to mind. ----Ramp gives you everything you need to control spend, watch your costs, and optimize your financial operations —all on a single platform. Make history's greatest entrepreneurs proud by going to Ramp and learning how they can help your business control your costs and save more. ----Founders Notes gives you the superpower to learn from history's greatest entrepreneurs on demand. You can search all my notes and highlights from every book I've ever read for the podcast. Get access to Founders Notes here. ----Join my free email newsletter to get my top 10 highlights from every book----Follow Founders Podcast on YouTube (Video coming soon!) ----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast

In this Topical Tuesday episode, I spoke with Jay Lybik who is CoStar's National Director of Multifamily Analytics and he has nearly three decades of experience in commercial real estate research. He's a frequent contributor to CoStar News and his insights have been presented in numerous media outlets, including the Wall Street Journal, The New York Times, Multifamily Executive and Multihousing News. Be sure to tune in if you're interested in learning about: The significant decrease in new multifamily starts and the current state of demand, which has shown signs of recovery after a challenging 2022. The regional differences in rent growth across the U.S. and the future outlook. How national vacancy rates have stabilized and the forward-looking supply/demand dynamics. His biggest takeaways from working with real estate icon Sam Zell. To your success, Tyler Lyons Resources mentioned in the episode: Jay Lybik LinkedIn Website Interested in investing with Asym Capital? Check out our webinar.   Please note that investing in private placement securities entails a high degree of risk, including illiquidity of the investment and loss of principal. Please refer to the subscription agreement for a discussion of risk factors. Tired of scrambling for capital?  Check out our new FREE webinar -  How to Ensure You Never Scramble for Capital Again (The 3 Capital-Raising Secrets). Click Here to register.   CFC Podcast Facebook Group

Podcast Episode 160 In this episode today, Rohan and David discussed the following:  The podcast, celebrating its four-year anniversary, continues to provide insights on real estate and other topics, sharing weekly updates and personal favorites. Market Update: Recent economic events have created turbulence in the financial markets Jobs Report: July saw only 114,000 new jobs, missing the expected 175,000, and the unemployment rate rose to 4.3%. This was the lowest job growth since December 2020. Stock Market Reaction: The Dow Jones fell over 1,100 points on August 5th, spurred by mixed signals including Buffett's sale of Apple stock and negative earnings reports from major companies. Federal Reserve: There was speculation about an emergency rate cut due to market turmoil, though the Fed did not act. Historical instances of emergency rate cuts include 1998 (Long-Term Capital Management crisis), 2001 (tech bubble), and March 2020 (pandemic). Japanese Market Impact: Japan's interest rate adjustments and subsequent market drop contributed to global market instability. Real Estate Insights: Interest Rates**: The 30-year fixed-rate mortgage dropped to 6.47%, a 15-month low, benefiting home buyers. Deutsche Bank: Selling $1 billion in commercial real estate loans to clean up its balance sheet, reflecting ongoing struggles in the office space sector. Sam Zell's Legacy: Equity Commonwealth, founded by the late Sam Zell, is liquidating its assets due to the challenging office market environment. Arbor REIT: Reported significant loan delinquencies and a drop in stock price. They are dealing with a high percentage of troubled loans and a federal investigation into their practices. Apartment Market: Slight improvements are noted in the apartment market with reduced vacancies and slowing rent declines. Cannabis Regulation: New York City has shut down 750 illegal cannabis stores, seized $41 million in products, and imposed fines. The city is tightening enforcement to regulate the cannabis market better.  Olympics: The Olympics have captivated viewers, with notable performances and increased ratings compared to recent Games. The 2028 LA Olympics are generating excitement, though some events will be held outside of LA. Rohan enjoyed watching the Olympics with their kids and finds it fascinating how different athletes' speeds compare to their own.

Hello Friend, I am excited to hear from you. From Storyteller to Story: Richelle Carey's Remarkable JourneyJoin us for an inspiring episode with Richelle Carey, an Emmy Award-winning American Broadcaster who has led the way in journalism with integrity and truth. Richelle's journey is nothing short of remarkable, transitioning from a storyteller to becoming the story herself when she made the defining decision to become a mommy.In this episode, Richelle opens up about her life, the internal shifts necessary to live her deepest dream, and the challenges and rewards of navigating life's transitions. Her honesty and openness shine through in our in-depth conversation, making this episode a must-listen for anyone going through change.Richelle's Remarkable Career:International Affairs & Media Training: Richelle is not just a journalist but a leader in media training and public relations as the Chief of Media Training at Words Warriors communications firm. She directs initiatives that provide executive media training and coaching for high-profile executives and founders.Broadcast Career Highlights: Richelle has an impressive broadcast career, having held anchor roles at CNN and Al Jazeera. She was a launch anchor at Al Jazeera America in New York before moving to Doha, Qatar, to lead the network's coverage of major world events. At HLN in Atlanta, she hosted 'What Matters', a segment focused on topics important to the African-American community.Advocacy & Community Involvement: Deeply committed to ending violence against women, Richelle serves on the board of No Harm and has previously served on the board of Men Stopping Violence. Her dedication to advocacy also extends to her past role on the board of the Girl Scouts of Greater Atlanta.Richelle's ability to balance authority and compassion in her interviews has made her a thoughtful and impactful voice in journalism. She has conducted interviews with notable figures such as Misty Copeland, Sam Zell, and Janet Jackson, showcasing her versatility across various subjects from current affairs to entertainment.In our chat, Richelle shares the internal and external shifts required to pursue her dreams and the importance of resilience and passion in the face of challenges. Her journey from a young journalist in Houston to an influential broadcaster and advocate demonstrates the power of determination and purpose.Don't miss this episode as we dive deep into Richelle's inspiring story and the life trHave you been developing your big idea to make an impact on the world but don't know what comes next? At Monica Wisdom Consulting, we center your vision and work to create a clear, concise, and strategic plan. You can build all your dreams; you just need a roadmap to get there.If you're ready for your next step, book a call, and let's talk about your vision and your future. Visit www.monicawisdomhq.com.Please support our Sponsors:Vital Body is a nutrient company with an incredible product called Vital Fruits and Vegetables with amazing ingredients, probiotics, and greens with no added sugar. www.blackwomenamplified.com/vitalbodyThey are offering our tribe 20% off when you use the code: monica20Monica Wisdom Global is a consulting agency for women entrepreneurs. We help you build a business aligned with your vision, voice, and values. We also offer copywriting services for your website refresh. Book a discovery call and discover ways to elevate your knowledge and expertise.Visit www.monicawisdomhq.comThank you for supporting our power partners.

What if your biggest failures were actually your greatest opportunities for growth?   This compelling episode focuses on the concept of "failing forward" and how adopting a growth mindset can transform setbacks into powerful learning experiences. The discussion covers the importance of emotional intelligence, and practical techniques like pattern interrupts to shift your mindset. With actionable steps and inspiring insights, this episode challenges listeners to embrace failure as a personal and professional growth catalyst.     [00:01 - 04:35] Embracing Challenges Challenges are gifts that force us to find new ways to stand Growth mindset: Viewing setbacks as opportunities Importance of resilience and adaptability   [04:36 - 08:05] The Entrepreneurial Mindset Insights from billionaire Sam Zell on entrepreneurship Redefining failure as feedback Using pattern interrupts to maintain a positive outlook   [08:06 - 12:26] The Growth Mindset Blueprint Recap of the multimillionaire real estate investor mindset Embodying a growth mindset and emotional intelligence Importance of setting and pursuing ambitious goals   [12:27 - 16:01] 30-Day Action Challenge Adopting a growth mindset in daily life Practicing mindfulness and finding mentors Setting and pursuing specific, measurable goals   [16:02 - 21:45] Abundance Mindset and Neuroplasticity Shifting from scarcity to an abundance mindset Personal stories of overcoming challenges Power of neuroplasticity in personal transformation   Key Quotes:   "Embodying a growth mindset, embracing mindfulness, and utilizing pattern recognition are key to success." - Tyler Chesser   "Our brain is always changing, and you can always learn new things and take on new mindsets." - Tyler Chesser     Connect with Tyler:   Website: https://tylerchesser.com/ LinkedIn: https://www.linkedin.com/in/tyler-chesser-ccim-88a54325/ Instagram: https://tylerchesser.com/       Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!   LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode.   Are you confused about where to start? Join our community and learn more about real estate investing.    Head over to our Facebook Page, YouTube channel, or website  https://www.theacademypresents.com/jointhesummit36848306.

What I learned from reading The House of Arnault by Brad Stone and Angelina Rascouet. ----Founders Notes gives you the superpower to learn from history's greatest entrepreneurs on demand. You can search all my notes and highlights from every book I've ever read for the podcast. Get access to Founders Notes here. ----Build relationships with other founders, investors, and executives at a Founders Event----(3:00) While other politicians were content to get their information from a scattering of newspapers, he devoured whole shelves.  — Young Titan: The Making of Winston Churchill by Michael Shelden. (Founders #320)(7:00) Arnault had understood before anyone else that it was a true industry. — The Taste of Luxury: Bernard Arnault and the Moet-Hennessy Louis Vuitton Story by Nadege Forestier and Nazanine Ravai. (Founders #296)(9:00) Arnault is an iron fist in an iron glove. — The Taste of Luxury: Bernard Arnault and the Moet-Hennessy Louis Vuitton Story by Nadege Forestier and Nazanine Ravai.The public conception of Sam as a good ol' country boy wearing a soft velvet glove misses the fact that there's an iron fist within. —  Sam Walton: The Inside Story of America's Richest Man by Vance Trimble.(12:00) People often ask me, “When are you going to retire?” And I answer, “Retire from what?” I've never worked a day in my life. Everything I've done has been because I've loved doing it, because it was enthralling. — Am I Being Too Subtle?: Straight Talk From a Business Rebel by Sam Zell. (Founders #269)(16:00) “I am not interested in managing a clothing factory. What you need, and I would like to run, is a craftsman's workshop, in which we would recruit the very best people in the trade, to reestablish in Paris a salon for the greatest luxury and the highest standards of workmanship. It will cost a great deal of money and entail much risk.” — Christian Dior to Marcel Boussac(17:00) Arnault believed that luxury brands could be larger than anyone at the time imagined.(20:00) Arnault said this 35 years ago: “My ten-year objective is that LVMH's leading position in the world be further strengthened in the luxury goods sector. I believe that there will be fewer and fewer brand names capable of retaining a worldwide presence and that those of our group will be among them as we will provide them with the means for growth.”(25:00) There are huge advantages for the early birds. When you're an early bird, there's a model that I call surfing—when a surfer gets up and catches the wave and just stays there, he can go a long, long time. But if he gets off the wave, he becomes mired in shallows. But people get long runs when they're right on the edge of the wave, whether it's Microsoft or Intel or all kinds of people, including National Cash Register. Surfing is a very powerful model.”  —  the NEW Poor Charlie's Almanack: The Wit and Wisdom of Charlie Munger. (Founders #329)(25:00) One thing I learned from having dinner with Charlie was the importance of getting into a great business and STAYING in it. There's a tendency in human nature to mess up a good thing because of an inability to sit still.(25:00) The incredible career of Les Schwab: Les Schwab Pride In Performance: Keep It Going! by Les Schwab. (Founders #330)(30:00) Dior in his autobiography: It is widely, and quite erroneously, believed that when the house of Christian Dior was launched, enormous sums were spent on publicity: on the contrary in our first modest budget not a single penny was allotted to it. I trusted to the quality of my dresses to get Christian Dior talked about. Moreover, the relative secrecy in which I chose to work aroused a positive whispering campaign, which was excellent (free) propaganda. Gossip, malicious rumours even, are worth more than the most expensive publicity campaign in the world.(31:00) Munger: “There are actually businesses that you will find a few times in a lifetime, where any manager could raise the return enormously just by raising prices-and yet they haven't done it. So they have huge untapped pricing power that they're not using. That is the ultimate no-brainer. Disney found that it could raise those prices a lot and the attendance stayed right up. So a lot of the great record of Eisner and Wells came from just raising prices at Disneyland and Disneyworld and through video cassette sales of classic animated movies. At Berkshire Hathaway, Warren and I raised the prices of See's candy a little faster than others might have. And, of course, we invested in Coca-Cola-which had some untapped pricing power.”— Charlie Munger: The Complete Investor by Tren Griffin(33:00) The benefits Arnault receives from owning commercial real estate: He makes money from his own stores, from leasing space to rivals—and from the appreciation of premium real estate. When LVMH buys a building, it takes the best storefronts for its own brands and often asks rivals to move out when their leases expire.(35:00) Arnault is all about details. He has 200,000 employees and he's paying attention to details about landscaping in the Miami Design District.(36:00) If we lose the detail, we lose everything. — Disney's Land: Walt Disney and the Invention of the Amusement Park That Changed the World by Richard Snow. (Founders #347)----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast

Randy is the Chairman of Green Courte and The Parking Spot, Green Courte's near-airport parking portfolio operating company. Randy is also a co-founder and former Chairman of Transwestern Investment Company, LLC, and former Chairman and Director of Transwestern Commercial Services, LLC. Randy was also Chairman and Chief Executive Officer of Hometown America, LLC, a large owner of manufactured housing communities. Links:Green Courte Partners - https://greencourtepartners.com/Randy on LinkedIn - https://www.linkedin.com/in/randy-rowe-4822b812/Brandon on LinkedIn - https://www.linkedin.com/in/bsedloff/Juniper Square - https://www.junipersquare.com/Topics:(00:00:00) - Intro(00:01:14) - Randy's background and career(00:10:17) - What was it like working for Sam Zell?(00:13:42) - How do you think about the evolution of the market over the course of your career?(00:24:13) - What led you to make the jump to Transwestern?(00:27:29) - Why didn't the Rockefeller Center deal not work out?(00:29:56) - Building Transwestern(00:34:00) - Starting Green Courte Partners(00:41:28) - What is a covered land play?(00:42:51) - How do you think about transforming capital allocations from niche sectors into alternatives?(00:49:26) - What's the size of your organization today?(00:52:02) - What trends are you tracking right now?(00:58:16) - Closing advice

Welcome to Barn Talk! Today, we dive into some of the hottest topics rippling through the country right now. From the explosive energy of UFC events shaking up cities like LA and Miami to navigating the increasingly heated political landscape, our hosts have a lot to unpack. We'll dive into the ongoing debate between Trump and Biden supporters, exploring why many are rallying behind Trump and questioning Biden's track record. This episode isn't just about politics, though. We'll touch on how market fluctuations impact agricultural decisions for cow calf and feedlot owners and discuss the buzzing topics in the WNBA, including stars like Caitlin Clark. Sawyer and Tork will also reflect on America's future, the importance of standing up for your beliefs, and the potential consequences of upcoming elections.  Use code BARNTALK for 10% OFF your next order https://farmergrade.com SUBSCRIBE TO THE PODCAST ➱ https://bit.ly/3a7r3nR   SUBSCRIBE TO THIS'LL DO FARM ➱ https://bit.ly/2X8g45c  SUBSCRIBE TO BARN TALK CLIPS ➱ https://bit.ly/3BlZnqq   LISTEN ON: SPOTIFY ➱ https://open.spotify.com/show/3icVr4KWq4eUDl7Oy60YMY  ITUNES ➱ https://podcasts.apple.com/us/podcast/barn-talk/id1574395049 Follow Behind The Scenes

Karlie Kloss is just the latest billionaire (by marriage) who thought it might be fun to start buying magazines. But billionaires' track record with the media is ... not great. In this ep we discuss the various billionaires (Jeff Bezos, Patrick Soon-Shiong, Mort Zuckerman, Sam Zell, etc.) who have bought media properties, what happened next, and who suffered (hint: not them!).Email us! toomuchmoneypodcast@gmail.com.Too Much Money is hosted and produced by Jo Piazza and Doree Shafrir. Music is by Lisa Brenner. Our network partner is Acast. Hosted on Acast. See acast.com/privacy for more information.

When it comes to climbing the ladder in any industry, being willing to try new things and seize opportunities is your fastest track to growth. Our guest today have built their impressive portfolio and carved out their place in the industry by doing just that. Today we're sitting down with Morgan Brennan, who Co-anchors CNBC's Closing Bell Overtime, which broadcasts live from CNBC's global headquarters in Inglewood Cliffs, New Jersey. Previously, she was co-anchor of the 10 a.m. hour on CNBC's Squawk on the Street. and Co-anchor of CNBC's Squawk Alley.Morgan joined the network in December 2013, as a general assignment reporter and continues to cover a variety of sectors including manufacturing, defense, and space among others. She's also the host of the CNBC podcast, Manifest Space. Prior to joining CNBC, Morgan was a staff writer and reporter for Forbes Media where she reported for Forbes Magazine, Forbes Life magazine, and Forbes. com. She began her career at Forbes in 2009, holding several positions, including anchor reporter and producer for the Forbes video network, covering a wide variety of business and finance topics. Morgan has interviewed billionaires, and heads of state, thought leaders, and chief executives of multi-billion dollar corporations. Her profile story on Equity Group Investments' Chairman, Sam Zell was one of five magazine covers featured on the 2013 Forbes 400 issue. She's also a board member of the nonprofit, City Year New York. Morgan graduated summa cum laude from New York University, majoring in Social Science with a double concentration in Anthropology and Media Studies.Highlights:Morgan describes her journey from entertainment to journalism (4:09)Morgan's first on-air role (8:49)How the service industry prepared Morgan for her media roles (10:36)Morgan walks us through her trajectory at CNBC (12:08)How Morgan got comfortable with live broadcasting (13:20)The biggest challenges in TV and fast-paced media industries (14:32) Morgan's favorite part of her work (16:52)Morgan talks about her podcast 'Manifest Space' (17:47)Morgan's all-time favorite interview (20:00)How Morgan learned to conduct interviews and her personal approach to them (20:53)How CEOs and business owners should approach media and interviews (21:55)Morgan explains how she balances and manages her work schedule with home life (26:58)Links:Morgan Brennan on LinkedInCNBC on LinkedInCNBC WebsiteManifest Space with Morgan BrennanICR LinkedInICR TwitterICR WebsiteFeedback:If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, marion@lowerstreet.co.

Entrepreneur Magazine calls Justin Donald the “Warren Buffett of Lifestyle Investing.” As the founder of The Lifestyle Investor and a master of low-risk cash flow investing, Justin's ethos is to “create wealth without creating a job.” He excels at simplifying complex financial strategies, structuring deals, and disciplined investment systems that consistently yield profitable results. After 21 months of investing, and before his 37th birthday, Justin's investments generated sufficient passive income for him and his wife Jennifer to leave their jobs. Following his straightforward investment system and 10 Commandments of Lifestyle Investing, Justin negotiated deals with over 200 companies, multiplied his net worth to over nine figures, and continues to maintain a family-centric lifestyle.  Justin's extensive entrepreneurial experience includes owning several profitable real estate-related businesses, one of the largest mobile home park portfolios in the U.S., various additional rental property portfolios, Orangetheory Fitness and KidStrong franchises, and multiple successful operating companies. One notable venture is Stellar, a residential maintenance and rehab company that Justin co-founded, that recently completed its Series B funding round, led by Alerion Ventures and S3 Ventures, the largest venture capital firm in Texas. Justin was recently invited to participate as a SXSW investor judge and speak at Texas Rangers Stadium. He is a member of Tiger 21 and serves on the board of Front Row Foundation International. Through his Lifestyle Investor Mastermind, Justin now consults and coaches entrepreneurs, executives, and successful media personalities on lifestyle investing. He hosts The Lifestyle Investor Podcast, with the aim of helping listeners consistently generate repeatable returns. Justin has also appeared on hundreds of podcasts and shared the stage with prominent figures like Richard Branson, Robert Kiyosaki, Sam Zell, Ron Paul, and Kevin Harrington. In January 2021, Justin released his #1 Wall Street Journal and USA Today bestselling book, The Lifestyle Investor: The 10 Commandments of Cash Flow Investing for Passive Income and Financial Freedom. The book is now in the top 1% of all books ever sold, with all proceeds donated to the Tebow Foundation and Love Justice International, two nonprofits that combat human trafficking in over 30 countries. Justin and Jennifer are dedicated philanthropists who contribute to various causes privately and through their church, with a primary emphasis on fighting human trafficking among other humanitarian efforts. Additionally, they sponsor several children through Compassion International. The Donalds reside in Austin, Texas, and love adventure-based international travel with their cherished daughter. For More Info:  www.lifestyleinvestor.com The Moorhead Team is excited to bring you information about investing in real estate in the Central Texas area! More information can be found at our website at www.themoorheadteam.com and our YouTube page The Moorhead Team. We're always aiming to bring you great free content about investing in real estate in Austin, TX! Instagram: @themoorheadteam  Make sure to sign up for our email list for off market properties and market updates!  

Sam Zell always used the axiom that you should always buy deals with low risk/high reward, never buy deals with high risk/low reward and the ones that require thinking are those with high risk/high reward. So how do you approach those type of deals? That's the focus of this Mobile Home Park Mastery podcast.

We discuss the 2017 memoir Am I Being Too Subtle?: Straight Talk From a Business Rebel by Sam Zell. Zell was the billionaire founder of Equity Residential, Equity International, and EQ Office. In addition he had controlling interests in several other large enterprises, perhaps most controversially Tribune Media. Am I Being Too Subtle? describes Zell's upbringing, career, business philosophy, and success transforming troubled assets into productive capital. Show Notes Am I Being Too Subtle? by Sam Zell via Amazon Follow us on Twitter @BusinessBooksCo and join our Amazon book club. Edited by Giacomo Guatteri Find out more at http://businessbooksandco.comRead transcript

Going Long Podcast Episode 258: How The 1031 Exchange Can Serve You and Your Long Distance Investing Success ( To see the Video Version of today's conversation just CLICK HERE. ) In the conversation with today's guest, Alex Olson you'll learn the following:   [00:39 - 03:44] Show introduction with comments from Billy. [03:44 - 07:39] Guest introduction and first questions. [07:39 - 15:55] The backstory and decisions made that led Alex to this point in his journey. [15:55 - 19:46] How Alex was able to feel comfortable and confident about the idea of investing in Real Estate long-distance and out of State, rather than sticking to his local, home market location.  [19:46 - 31:28] Alex gives us an in depth “101”, and explains what a 1031 exchange is, and when and how you might want to use it. [31:28 - 40:06] The main pros and cons of making use of the 1031 exchange. Here's what Alex shared with us during today's conversation:    Where in the world Alex is based currently: Kansas City, Missouri. The most positive thing to happen in the past 24 hours: Alex went with his daughter to her first choir practice and she was really nervous, but she ended up realising it wasn't so bad and had a great time, which made Alex very proud! Favourite city in Europe: Rome. Italy. A mistake that Alex would like you to learn from so that you don't have to pay full price: Slow and steady wins the race! Book Recommendation: Am I Being Too Subtle? , by Sam Zell - https://www.amazon.com/Am-Being-Too-Subtle-Straight/dp/1591848237    Be sure to reach out and connect with Alex Olson by using the info below:     Website: https://xchangecre.com/  LinkedIn: https://www.linkedin.com/in/aolson  Email: alex@xchangecre.com      To see the Video Version of today's conversation just CLICK HERE.   How to leave a review for The Going Long Podcast: https://youtu.be/qfRqLVcf8UI     Start taking action TODAY so that you can gain more Education and Control over your financial life.   Be sure to connect with Billy!  He's made it easy for you to do…Just go to any of these sites:   Website: www.billykeels.com Youtube: billykeels Facebook: Billy Keels Fan Page Instagram: @billykeels Twitter: @billykeels LinkedIn: Billy Keels  

What I learned from reading Roots of Strategy by Thomas R. Phillips and Napoleon and Modern War by Napoleon and Col. Lanza. ----Get access to the World's Most Valuable Notebook for Founders by investing in a subscription to Founders Notes----Come and build in-person relationships at the Founders Only conference----(0:01) Napoleon fought more battles than Alexander, Hannibal, and Caesar combined.(5:00) The Mind of Napoleon: A Selection of His Written and Spoken Words edited by J. Christopher Herold. (Founders #302)(7:00) Insull: The Rise and Fall of A Billionaire Utility Tycoon by Forrest McDonald. (Founders #336)(8:00) No one should believe more in your business than you do. If this is not the case you are in the wrong business.(11:00) If you do everything you will win.(13:00) Napoleon episodes: Napoleon: A Concise Biography by David Bell. (Founders #294) The Mind of Napoleon: A Selection of His Written and Spoken Words edited by J. Christopher Herold. (Founders #302) (14:00) What is the bigger number, five or one? One. One army, a real army, united behind one leader, with one purpose. A fist instead of 5 fingers. — Robert Baratheon in Game of Thrones (YouTube)(17:00) Keep your forces united. Be vulnerable at no point. Bear down with rapidity upon important points. These are the principles which insure victory.(17:00) Read over and over again the campaigns of Alexander, Hannibal, Caesar, Gustavus, Turenne, Eugene and Frederic. Make them your models. This is the only way to become a great general and to master the secrets of the art of war. With your own genius enlightened by this study, you will reject all maxims opposed to those of these great commanders. [If Napoleon was alive you know he'd listen to Founders podcast](20:00) The Tao of Charlie Munger by Charlie Munger and David Clark (Founders #295)(20:00) Advance orders tend to stifle initiative. A commander should be left free to adapt himself to circumstances as they occur.(23:00) The art of war consists in a well organized and conservative defense, coupled with an audacious and rapid offensive.(26:00) Ten people who yell make more noise than ten thousand who keep silent.(29:00) Long orders, which require much time to prepare, to read and to understand are the enemies of speed. Napoleon could issue orders of few sentences which clearly expressed his intentions and required little time to issue and to understand.(31:00) A great leader will resort to audacity.(32:00) “Alexander the Great thought, decided, and above all, moved swiftly. He appreciated the importance of speed and the terrifying surprises speed made possible. His enemies were always stunned and shocked by his arrival. He invented the blitzkrieg.”  — Heroes: From Alexander the Great and Julius Caesar to Churchill and de Gaulle by Paul Johnson. (Episode #226)(34:00) It is no harm to be too strong; it may be fatal to be too weak.(41:00) Napoleon on single threaded leadership: Once a campaign has been decided upon there should be no hesitation in appointing one commander to assure its success. When authority is divided, opinions and actions differ, and confusion and delay arises. A single chief proceeds with vigor; he is not delayed by necessity to confer.(42:00) Posess obstinate will.(43:00) Experience must be supplemented by study. No man's personal experience can be so inclusive as to warrant his disregarding the experiences of others. (This is a great reason why you should invest in a subscription to Founders Notes ) (44:00) It is profitable to study the campaigns of the great masters.(47:00) Skill consists in converging a mass of fire upon a single point. He that has the skill to bring a sudden, unexpected concentration of artillery to bear upon a selected point is sure to capture it. (A lesson from Peter Thiel: Don't divide your attention: focusing on one thing yields increasing returns for each unit of effort.)(49:00) All great captains have been diligent students [of history].----Get access to the World's Most Valuable Notebook for Founders by investing in a subscription to Founders Notes----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast

What I learned from reading Insull: The Rise and Fall of A Billionaire Utility Tycoon by Forrest McDonald. ----Get access to the World's Most Valuable Notebook for Founders by investing in a subscription to Founders Notes----Come and build in-person relationships at the Founders Only conference----(0:01) Insull had been in the electric business as long as there had been an electric business.(4:00) He awoke early, abruptly, completely, bursting with energy; yet he gained momentum as the day wore on, and long into the night. Sam had near-demonic energy.(5:00) Sam's most obvious attribute was a capacity for racing through large quantities of reading material, effortlessly perceiving its important assumptions and generalizations, and thoroughly assimilating its salient details.(7:00) He eagerly embraced platitudes:• Idle hands are the devil's workshop• Time is money• Things are simply "done" or "not done"• One reveres one's family• Only that which is useful is good• Survival of the fittest(8:00) Opportunity handled well leads to more opportunity.(12:00) He developed an ability to concentrate on a single subject and to completely shut out everything else, no matter how pressing.(13:00) A theme from the robber baron era: How do we turn a luxury product into a necessity?(18:00) If you do everything you will win.  — Working by Robert Caro. (Founders #305) and The Mind of Napoleon: A Selection of His Written and Spoken Words edited by J. Christopher Herold. (Founders #302)(19:00) Insull reread every one of Edison's European contracts, and he took it upon himself to write weekly letters to Johnson, summarizing the fluctuations in the telephone situation and outlining Edison's shifting interests in connection with it. These letters proved to be the best selling points Johnson could have in recommending Insull to Edison.(20:00) One of his most deep-rooted traits was that he was absolutely unable to imagine the possibility of his own failure; he entirely lacked the sense of caution of those who doubt themselves.(21:00) Caution, like relaxation, was unnatural to him.(21:00) We will make electric lights so cheap that only the rich will be able to burn candles.(27:00) Edison had an almost pathological hostility to any form of system, order, or discipline imposed from without.(33:00) Warren Buffett on leverage:Unquestionably, some people have become very rich through the use of borrowed money. However, that's also been a way to get very poor. When leverage works, it magnifies your gains. Your spouse thinks you're clever, and your neighbors get envious. But leverage is addictive. Once having profited from its wonders, very few people retreat to more conservative practices.And [to repeat] as we all learned in third grade-and some relearned in 2008–any series of positive numbers, however impressive the numbers may be, evaporates when multiplied by a single zero. History tells us that leverage all too often produces zeroes, even when it is employed by very smart people.Leverage, of course, can be lethal to businesses as well. Companies with large debts often assume that these obligations can be refinanced as they mature. That assumption is usually valid. Occasionally, though, either because of company-specific problems or a worldwide shortage of credit, maturities must actually be met by payment. For that, only cash will do the job.— The Essays of Warren Buffett by Warren Buffett and Lawrence Cunningham. (Founders #227)(35:00) Smart men go broke three ways: liquor, ladies and leverage. — Charlie Munger(42:00) To make electricity as cheap as possible we need the largest base of customers. The way to get the largest base of customers is through monopoly.(45:00) He understood the potential of his industry in a way others did not.(45:00) We are only going to do things that other people can not do.(47:00) While money may not buy friends it will keep many a man from becoming an enemy.(50:00) The moment of applause was the moment for action.(1:00:00) You need to tell your customers what goes into making your product. It may be normal to you because it is your everyday thing. It is not normal to them. And if you explain and you educate your customers they will find it fascinating. And as a result it will make the service and the product you provide more valuable in their eyes.(1:00:00) Sam Insull made electric power so abundant and cheap in the United States that people who had never expected to use it, found it as natural and as necessary as breathing.(1:06:00) He took his leverage too high and the structure of the leverage was a problem. —  Ted Turner's Autobiography.(Founders #327)----Get access to the World's Most Valuable Notebook for Founders by investing in a subscription to Founders Notes----Come and build in-person relationships at the Founders Only conference----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested, so my poor wallet suffers.” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast

It was the type of introduction that any MBA student would envy, and one at which David Snyder, 35 years later, still marvels. Back in the late 1980s, a business school classmate introduced him to notable investor and billionaire tycoon Sam Zell, who subsequently offered Snyder a job. Without hesitation, Snyder accepted Zell's offer and in short order began working for him in Chicago, where he joined a group of recent young graduates whom Zell had recruited to help inside the realm of corporate acquisitions. More than any one deal or acquisition target, Snyder recalls, the greatest lessons from his days with Zell came from the sideline conversations. “Just by my proximity to Sam, I learned a lot—he had sort of a Socratic approach, whereby we would have a dialogue with him in which he would begin sharing the investor's point of view and how an investor thinks about the operating prospects of a given investment,” remembers Snyder, who adds that from those days onward he has always “come to the table” thinking like an investor. He reports: “I've carried this with me through all of the ensuing 30 years.” Snyder's exposure to Sam Zell and his work in corporate acquisitions honed his strategic thinking skills. He emphasized the importance of understanding the investor's point of view and translating business strategy into financial terms. –Jack Sweeney 

In this week's episode, Patrick Donley (@JPatrickDonley) sits down with Chris Powers to talk about his journey from purchasing his first rental at 17 to becoming Chairman of Fort Capital and host of the entrepreneurial podcast, The Fort. They dive into the sacrifices Chris has had to make to get to where he is today, the struggles along the way, the role of mentorship and faith in his life, what he learned from Sam Zell on how to be a great investor, and so much more. Chris is a serial entrepreneur with more than 18 years of real estate development and investment experience. He founded Fort Capital and to date, the company has invested over $2B in Class B industrial, commercial, multifamily, student housing, and residential / land development projects throughout the state of Texas and the Sunbelt. Chris's ability to conceptualize, raise capital, and execute are only a small part of what Chris brings to the table as Fort Capital's Executive Chairman.  IN THIS EPISODE, YOU'LL LEARN 00:00 - Intro. 02:23 - What sacrifices Chris Powers has had to make to be Chris Powers. 05:32 - The danger of pursuing status games. 05:56 - What impact Chris' father had on his life and career. 13:19 - How his life changed after his father decided to go back to medical school in his 30's. 44:01 - How mentorship has played a major role in his life. 49:45 - How the role of faith has impacted his life and career. 59:01 - How podcasting has opened up doors. 59:21 - What the next 10 years will look like. 61:55 - What an average day is like for Chris. *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members. Am I Being Too Subtle by Sam Zell. Good to Great by Jim Collins. The Fort podcast with Chris Powers. REI184: Beauty in Broken Things w/ John Marsh | YouTube video. Check out the books mentioned in the podcast here. NEW TO THE SHOW? Check out our Millennial Investing Starter Packs. Browse through all our episodes (complete with transcripts) here. Try Kyle's favorite tool for picking stock winners and managing our portfolios: TIP Finance. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: NetSuite Fundrise Masterclass HelloFresh Connect with Patrick: (@JPatrickDonley): Twitter Connect with Chris:  Website | Twitter Learn more about your ad choices. Visit megaphone.fm/adchoices

Going Long Podcast SERIES HIGHLIGHT Episode 380: Tap Into 3 Decades of Real Estate Private Equity to Accelerate Your Investing Success ( To see the Video Version of today's conversation just CLICK HERE. ) In the conversation with today's guest, Michael Zaransky you'll learn the following:   [00:38 - 03:46] Show introduction with comments from Billy. [03:46 - 07:15] Guest introduction and first questions. [07:15 - 09:38] The backstory and decisions made that led Michael to this point in his journey. [09:38 - 12:12] What gave Michael the impetus to get into writing and publishing books on the subjects he is knowledgeable and passionate about. [12:12 - 15:20] What initially attracted Michael to Real Estate and also what about it has kept him working in the space for over 30 years.  [15:20 - 22:31] Some of the reasons Michael strongly believes that it is often best to invest long distance and out of State rather than only investing in home market locations, and how it is possible to leverage modern technology to make this even easier and more efficient to do in practice. [22:31 - 25:24] How Michael's educational training helps him today in terms of being able to lead teams and be more efficient through due diligence.  [25:24 - 30:15]  The advantages Michael has gained from his 30 plus year experience of networking and seeing new trends come and go across the whole world of Real Estate.  Here's what Michael shared with us during today's conversation:    Where in the world Michael is based currently: Chicago, illinois. The most positive thing to happen in the past 24 hours: Michael got to spend time hanging out with 2 of his grandchildren! Favourite place in Europe: Prague, Czech Republic.  A mistake that Michael would like you to learn from so that you don't have to pay full price: “Ready, fire, aim!” (rather than Ready Aim Fire!). You've got to actually get doing things, and not just sit talking about them and analyzing them. Book Recommendations: Am I Being Too Subtle? , by Sam Zell https://www.amazon.com/Am-Being-Too-Subtle-Straight/dp/1591848237    Be sure to reach out and connect with Michael Zaransky by using the info below:     Website: https://mzcapitalpartners.com/  Email: mhz@mzcapitalpartners.com  Michael's published books: https://www.amazon.com/Profit-Investing-Student-Housing-Shortage/dp/1419521888 and https://www.amazon.com/Purchase-Reposition-Commercial-Investment-Property/dp/1419596799      To see the Video Version of today's conversation just CLICK HERE.   How to leave a review for The Going Long Podcast: https://youtu.be/qfRqLVcf8UI     Start taking action TODAY so that you can gain more Education and Control over your financial life.   Are you an Accredited Investor that's tired of getting crushed by paying so much in income tax? Find out how we're helping others like you keep Uncle Sam out of your pocket. Go to https://www.firstgencp.com/goinglong   Be sure to connect with Billy!  He's made it easy for you to do…Just go to any of these sites:   Website: www.billykeels.com Youtube: billykeels Facebook: Billy Keels Fan Page Instagram: @billykeels Twitter: @billykeels LinkedIn: Billy Keels  

Founders ✓ Claim Key Takeaways  Life is hard for the man who thinks he can take a shortcut Once you become complacent, it is all over You might not be smarter than everyone else, but youcan know more about something than everyone else Get out of your office and help the customersAppeal to interest, not to reasonEmployees are inherently self-interested; ensure that the company's incentive structure aligns with this reality   Never take advantage of a customer or employee, but take every advantage you can over the competition “Whatever you do, you must do it with gusto. You must do it in volume – it is a case of repeat, repeat, repeat.” – Les Schwab Read the full notes @ podcastnotes.orgWhat I learned from rereading Les Schwab Pride In Performance: Keep It Going! by Les Schwab. ----Get access to the World's Most Valuable Notebook for Founders by investing in a subscription to Founders Notes----(8:00) I didn't know how to ride a bike. We never had one. All the other young kids delivered newspapers on a bike. He's got no money. He doesn't have a bike. So he ran his routes for two months in order to get enough money to buy his first bike. He'd run nine or 10 miles a day. (8:00) I was too proud to complain.(10:00) For a poor boy, money was much more important than pride.(10:00) Am I Being Too Subtle?: Straight Talk From a Business Rebel by Sam Zell. (Founders #269)(13:00) I was young. I was cocky. But the same cockiness helped me a lot in going through life.(15:00) The very first sentence describing his very first day in business is mind blowing: I had never fixed a flat tire in my life.(15:00) the NEW Poor Charlie's Almanack: The Wit and Wisdom of Charlie Munger (Founders #329)(29:00) Sam Walton: The Inside Story of America's Richest Man by Vance H. Trimble (Founders #150)(35:00) I always knew that if we fixed all the flat tires in town, we'd have all the tire business in town.(40:00) If we become complacent, then brother, it's all over with.(52:00) Grinding It Out: The Making of McDonald's by Ray Kroc (Founders #293)(56:00) If you're not serving the customer, or supporting the folks who do, we don't need you. —Sam Walton(1:00:00) The company paid low wages and had a lower overhead. The flaw was they didn't get —with the low pay— near the quality of employees we had.(1:01:00) Life is hard for the man who thinks he can take a shortcut.(1:06:00) Decision making should always be made at the lowest possible level.(1:08:00) Whatever you do, you must do it with gusto, you must do it in volume. It is a case of repeat, repeat, repeat.(1:08:00) Charlie Munger analyzes why Les Schwab was successful.(1:11:00) Extreme success is likely to be caused by some combination of the following factors:1 Extreme maximization or minimization of one or two variables. Think Costco.2 Adding success factors so that a bigger combination drives success, often in nonlinear fashion, as one is reminded by the concept of breakpoint and the concept of critical mass in physics. Often, results are not linear. You get a little bit more mass and you get a lollapalooza result. And, of course, I've been searching for lollapalooza results all my life, so I'm very interested in models that explain their occurrence.3 An extreme of good performance over many factors. Example, Toyota or Les Schwab.4 Catching and riding some sort of big wave. Example, Oracle.----Get access to the World's Most Valuable Notebook for Founders by investing in a subscription to Founders Notes----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested, so my poor wallet suffers.” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast

What I learned from rereading Les Schwab Pride In Performance: Keep It Going! by Les Schwab. ----Get access to the World's Most Valuable Notebook for Founders at Founders Notes.com----(8:00) I didn't know how to ride a bike. We never had one. All the other young kids delivered newspapers on a bike. He's got no money. He doesn't have a bike. So he ran his routes for two months in order to get enough money to buy his first bike. He'd run nine or 10 miles a day. (8:00) I was too proud to complain.(10:00) For a poor boy, money was much more important than pride.(10:00) Am I Being Too Subtle?: Straight Talk From a Business Rebel by Sam Zell. (Founders #269)(13:00) I was young. I was cocky. But the same cockiness helped me a lot in going through life.(15:00) The very first sentence describing his very first day in business is mind blowing: I had never fixed a flat tire in my life.(15:00) the NEW Poor Charlie's Almanack: The Wit and Wisdom of Charlie Munger (Founders #329)(29:00) Sam Walton: The Inside Story of America's Richest Man by Vance H. Trimble (Founders #150)(35:00) I always knew that if we fixed all the flat tires in town, we'd have all the tire business in town.(40:00) If we become complacent, then brother, it's all over with.(52:00) Grinding It Out: The Making of McDonald's by Ray Kroc (Founders #293)(56:00) If you're not serving the customer, or supporting the folks who do, we don't need you. —Sam Walton(1:00:00) The company paid low wages and had a lower overhead. The flaw was they didn't get —with the low pay— near the quality of employees we had.(1:01:00) Life is hard for the man who thinks he can take a shortcut.(1:06:00) Decision making should always be made at the lowest possible level.(1:08:00) Whatever you do, you must do it with gusto, you must do it in volume. It is a case of repeat, repeat, repeat.(1:08:00) Charlie Munger analyzes why Les Schwab was successful.(1:11:00) Extreme success is likely to be caused by some combination of the following factors:1 Extreme maximization or minimization of one or two variables. Think Costco.2 Adding success factors so that a bigger combination drives success, often in nonlinear fashion, as one is reminded by the concept of breakpoint and the concept of critical mass in physics. Often, results are not linear. You get a little bit more mass and you get a lollapalooza result. And, of course, I've been searching for lollapalooza results all my life, so I'm very interested in models that explain their occurrence.3 An extreme of good performance over many factors. Example, Toyota or Les Schwab.4 Catching and riding some sort of big wave. Example, Oracle.----Get access to the World's Most Valuable Notebook for Founders at Founders Notes.com----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested, so my poor wallet suffers.” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast

Sam Zell has only been gone for a short while yet it appears that many buyers and sellers have already lost track of the art of imputing risk – the necessary element of factoring risk into buying and selling decisions. In this Mobile Home Park Mastery podcast we're going to review the Zell formula on approaching the subject of risk and what some of the issues are when you don't adhere to those principals.

Episode #186 The late Sam Zell in the early 90's during the savings and bank crises used to say, "Stay alive till '95." Back then, it warned about the challenges that lie ahead for the global economy. It's gotten a revival today to "Stay Alive 'Til 2025." A number of other experts have also warned that the global economy is facing a number of headwinds, including rising interest rates, inflation, and the ongoing war in Ukraine. Show highlights: 02:30 What does the quote mean? 03:52 Is a Recession Happening? 06:20 Consumers Running Out of Rope 09:30 Keep Spending Under Control! 12:50 Treasuries Too High 15:48 Trouble Ahead Remember, you are not alone. Millions of people around the world are facing the same challenges. By working together, we can overcome them and build a better future for ourselves and our families. If you are thinking of taking action now, feel free to contact us on Instagram: @kennybsimpson @krystlersimpson SPONSORS: * Prime Corporate Services: Whether you're new to owning a business or owning property or you're an experienced business owner, Prime Corporate Services will help you and make the process so much easier. So, if you book a call the first thing they are going to do for you is help you understand what your business structure should look like, your corporate structure, tax planning, estate planning, and all of that. Maybe you're saying, I'm brand new to starting a business and all of this sounds foreign and complicated. Remember, this company helps new people just get started every day. They will help you form the entity that's best for you and walk you through the process. Visit https://primepartner.info/gitcg to schedule a free call! * Cost Segregation Services: We have been working with Tim Looney at CSSI for a few years now and he has saved our clients and our hundreds of thousands, if not millions of dollars, in taxes doing Cost Segregation Studies. Let me give you a few examples. We bought a property in 2019, if we had just used straight-line depreciation, we would have saved about $18,750. Because we did a cost seg we saved $258,000 – that's $239,350 more than standard straight-line depreciation in the first year! Call Tim Looney at (318) 469-9861 to schedule a complimentary property analysis, and tell him Krystle and Kenny sent you! #realestate #podcast #realestateinvesting #housingmarket #inventory #sandiego #sandiegorealestate #realestateinvestor #success #successmindset #investingtips --- Support this podcast: https://podcasters.spotify.com/pod/show/getinthecashflowgame/support

On this week's episode, host Colbert Cannon sits down with Mark Rubenstein, Head of Strategic Investment Partners North America at HPS. We talk about Mark's early days at Citigroup's leveraged finance division and his transition to the bank's Special Situations Group. He then recounts the pivotal moments that led him to join HPS and the evolution of the firm during his tenure.Learn more about Mark Rubenstein and his role at HPS here. Check out his Best Idea, the book Am I Being Too Subtle? by Sam Zell  here. Learn more about Magog, Quebec, Colbert's Best Idea for this week, here.

Patrick Donley (@JPatrickDonley) sits down with Mitchell Baldridge to chat about his thesis of buying a business, buying real estate, employing tax strategies, enjoying the cash flow, and paying little to nothing in taxes. You'll also learn in more detail about the tax benefits of owning a small business, why a cost segregation study makes sense, what it has been like launching several new companies, and how Twitter has accelerated his career by decades.Mitchell Baldridge is a Certified Public Accountant and Certified Financial Planner with vast experience in corporate accounting, business advisory, and financial planning. His passion is building lifelong relationships with business owners to help them thrive. He founded Baldridge Financial in 2014 to realize his dream of helping business owners achieve their financial goals.He's also involved in several other businesses including Better Bookkeeping, RE Cost Seg, and Tax Credit Hunter. IN THIS EPISODE, YOU'LL LEARN:00:00 - Intro02:40 - What Mitchell's thesis is for wealth and tax optimization.04:48 - What a Real Estate Professional is.06:39 - What the tax benefits of owning a small business are.09:50 - What the different retirement plans are that solopreneurs can take advantage of.12:40 - What is qualified business income?14:55 - Why it is important to stay current on the tax codes.15:36 - What are the benefits of cost segregation?29:30 - How Mitchell teamed up with Nick Huber and what their competitive advantages are.32:06 - How Mitchell got Better Bookkeeping started.44:02 - Why the distribution Twitter provides has been so critical to his success.49:42 - What lessons he learned from Sam Zell.51:41 - What are the two questions he asks before pursuing an opportunity?59:01 - How he would spend $1000 if he was starting a new business.*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.BOOKS AND RESOURCESThe Everything Guide to House Hacking by Robert Leonard.Smart Friends podcast.Related Episode: Listen to REI173: The Power of Cost Segregation w/ Yonah Weiss or watch the video here.The Goal by Eliyahu Goldratt.The Power Broker by Robert Caro.Kevin Kelly's 1000 True Fans.The General Ledger newsletter.The Almanack of Naval Ravikant by Eric Jorgenson.Unreasonable Hospitality by Will Guidara.Shoe Dog by Phil Knight.Scaling Up Compensation by Verne Harnish.Who Is Michael Ovitz? by Michael Ovitz.Confessions of an Advertising Man by David Ogilvy.Better Bookkeeping.Cost Segregation - https://recostseg.com.NEW TO THE SHOW?Check out our Millennial Investing Starter Packs.Browse through all our episodes (complete with transcripts) here.Try Robert's favorite tool for picking stock winners and managing our portfolios: TIP Finance.Enjoy exclusive perks from our favorite Apps and Services.Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.Learn how to better start, manage, and grow your business with the best business podcasts.P.S The Investor's Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today!SPONSORSGet a FREE audiobook from Audible.Be confident that you'll be small businessing at your best with support designed to help you reach your goals. Book an appointment with a TD Small Business Specialist today.Return to the all-access world of the rich and powerful. Don't miss new episodes of Billions streaming August 11th on the Paramount Plus with Showtime plan.Get a customized solution for all of your KPIs in one efficient system with one source of truth. Download NetSuite's popular KPI Checklist, designed to give you consistently excellent performance for free.Learn from the world's best minds - anytime, anywhere, and at your own pace with Masterclass. Get 15% off an annual membership today.Make investing in Short Term Rentals aka Air-BNBs simple, passive, and profitable with Techvestor. Listeners of Millennial Investing get better terms by just mentioning "Millennial Investing!" Sign up and book your call with their Investor Relations Team to get started today.Support our free podcast by supporting our sponsors.Connect with Patrick: Twitter Connect with Mitchell: Twitter | WebsiteSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Join the Hui Deal Pipeline Club and secure a personal one-on-one call with Lane! https://simplepassivecashflow.com/club0:26 - Rocket Mortgage releases new 1% down mortgages2:02 - What would Sam Zell be investing in?4:03 - San Diego Retreat for SPC Club 5:07 - Demand for Office Spaces Weakens7:42 - Blackstone Shrinks Office Holdings to 2%10:08 - Multifamily Missing Middle Flat at Start of 202313:22 - Uncertain Economic Outlook Keeps Renters In Place, Pushing Cap Rates Up14:09 - Draft Kings and MGM Gambling Houses and How It Relates to Passive Investing Hosted on Acast. See acast.com/privacy for more information.

Join the Hui Deal Pipeline Club and secure a personal one-on-one call with Lane! https://simplepassivecashflow.com/club-In this week's investor news update, we discussed the current affordable cities, the current GDP, and the sad news about Sam Zell's demise. Slide Link: https://www.slideshare.net/LaneKawaoka/investor-weekly-news-update-may-29-202300:55 US Economy Beats Back 'dubious' Recession Fears After GDP, Jobs Data Top Expectations2:40 HUD Sees ‘Massive Drop' In Multifamily Deal Volume, Slowing Housing Production5:02 2023's Most Affordable Cities for Home Buyers6:52 Sam Zell, Billionaire Real Estate Investor, Dead At 819:36 Lesson Learned: “The Station” by Robert Hastings Hosted on Acast. See acast.com/privacy for more information.

Last Thursday, we lost Sam Zell, one of the true investment greats and one of the most popular past guests on the show. As a small tribute to the great man and investor, we are replaying my conversation with Sam from last year. Please enjoy the incredible and entertaining story of Sam Zell, the true contrarian whose common sense generated uncommonly exceptional returns – in dollars and in a life well lived.

On today's show, we have the honor of interviewing legendary real estate investor and entrepreneur, Sam Zell.Sam Zell has an impressive background, having started his career in real estate in the late 1960s. He is the founder and chairman of Equity Group Investments, a leading private investment firm. Over the course of his career, Sam has made many bold moves and investments, earning him a reputation as a savvy and fearless investor.One of Sam's most notable achievements was his role in creating the modern-day real estate investment trust (REIT) industry. He did this by founding Equity Office Properties Trust in 1997, which became the largest office REIT in the United States. In 2007, he sold the company for a record-breaking $39 billion.Joining us today as a co-host is David Greene, an accomplished real estate investor, and host of the BiggerPockets podcast, one of the most popular and highly-rated podcasts in the real estate investing space.IN THIS EPISODE YOU'LL LEARN:00:00 - Intro.04:49 - How Sam helped pioneer the REIT industry and what improvements he would like to see today30:42 - What drives him to succeed at 81 years old 35:37 - Why Sam would raise interest rates further if he was the head of the Federal Reserve49:36 - How Sam thinks through when to buy and when to sell50:48 - A play-by-play breakdown of how he sold Equity Group Investments to Blackstone for nearly $40 billion dollars1:06:08 - Why he says “liquidity = value”Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.BOOKS AND RESOURCESAm I Being Too Subtle by Sam Zell BookBigger Pockets PodcastTrey Lockerbie TwitterNEW TO THE SHOW?Check out our We Study Billionaires Starter Packs.Browse through all our episodes (complete with transcripts) here.Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.Enjoy exclusive perks from our favorite Apps and Services.Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.Learn how to better start, manage, and grow your business with the best business podcasts. P.S The Investor's Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today!SPONSORSIf you're aware you need to improve your bitcoin security but have been putting it off, Unchained Capital‘s Concierge Onboarding is a simple way to get started—sooner rather than later. Book your onboarding today and at checkout, get $50 off with the promo code FUNDAMENTALS.Have peace of mind knowing River holds Bitcoin in multi-sig cold storage with 100% full reserves.What does happen when money and big feelings mix? Tune in to find out on the new podcast, Open Money, presented by Servus Credit Union.Make connections, gain knowledge, and uplift your governance CV by becoming a member of the AICD today.Beat FOMO and move faster than the market with AlphaSense.Send, spend, and receive money around the world easily with Wise.Join over 5k investors in the data security revolution with Atakama.Apply for the Employee Retention Credit easily, no matter how busy you are, with Innovation Refunds.Discover the leading community for engaged investors, and the best source of investment analysis and opinion with Seeking Alpha. Listeners get a special deal: Alpha Picks for $99 + 1 month of FREE Seeking Alpha Premium!Unravel the fascinating story of Elon Musk's unexpected bid to buy Twitter, and all of the drama that has happened since then with Flipping The Bird: Elon vs. Twitter.Invest your retirement savings in what YOU know and are passionate about with a Self-Directed IRA with New Direction Trust Company.Support our free podcast by supporting our sponsors.HELP US OUT!Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Episode 448: Sam Parr (@TheSamParr) talks with David Senra (@FoundersPodcast), Founder of Founder's podcast, about his love of podcasting, how to become a killer in business, and life lessons from successful entrepreneurs. Click here to sign up for our event in Austin, TX on Saturday April 29th: mfmpod.com/atx Want to see more MFM? Subscribe to the MFM YouTube channel here. Check Out Sam's Stuff: * Hampton * Ideation Bootcamp * Copy That Check Out Shaan's Stuff: * Power Writing Course * Daily Newsletter ----- Links: *Founders podcast *James Dyson's autobiography * Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel. ------ Show Notes: (02:25) - What did you do before Founders? (03:55) - How big is the podcast? (10:40) - How many books do you read? (18:50) - The difference between pretty good and killers (21:00) - Can you make yourself a killer? (28:20) - Finding good industries to get into (46:20) - Lessons from meeting Sam Zell and Charlie Munger (59:20) - What is next for you? (01:17:25) - Chuck Yeager ------ Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more. ----- Additional episodes you might enjoy: • #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits • #209 Gary Vaynerchuk - Why NFTS Are the Future • #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto * #169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett • ​​​​#218 - Why You Should Take a Think Week Like Bill Gates • Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More • How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

Today's guest is the Grave Dancer himself, Sam Zell, founder and chairman of Equity Group Investments, a private investment firm he founded more than 50 years ago.  Sam's thought to be the most successful real estate investor of all time and the man who known for his enormous success in real estate and “made REITs dance,” popularizing the REIT structure that's commonplace today. He's also been a successful investor in areas like energy, logistics, and health care. Today's episode starts off with Sam's take on the withdrawal limits for private REITs over the past few months from the lens of his quote, “liquidity equals value.” He shares his view on different areas of the real estate market, why he's been a net seller for 7+ years, and some lessons from being a constant deal maker during his career. As we wind down, Sam shares some advice for President Biden on how to help the economy and how to encourage more entrepreneurship in the US, and I promise you won't want to miss his most memorable investment.   *To listen to more on Sam's fascinating background, we suggest listening to his episode on The Tim Ferriss Show podcast here ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Today's episode is sponsored by Farmland LP. Farmland LP is one of the largest investment funds in the US focused on converting chemical-based conventional farmland to organic, sustainably-managed farmland using a value-add commercial real estate strategy in the agriculture sector. Since 2009, they have built a 15,000-acre portfolio representing over $200M in AUM. Today's episode is sponsored by The Idea Farm. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world's largest institutions, funds, and money managers. Subscribe for free here.  ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! 

Robert is joined again by Samantha Mcvey to continue to discuss why the rent is so damn high.  See omnystudio.com/listener for privacy information.