Podcast appearances and mentions of Warren Buffett

In this episode, Scott Becker reviews how Warren Buffett's Berkshire is trimming stakes in Apple and Bank of America, with American Express emerging as a potential top holding as the firm rebalances away from former growth giants.

Listen to a recap of the top stories of the day from 9to5Mac. 9to5Mac Daily is available on iTunes and Apple's Podcasts app, Stitcher, TuneIn, Google Play, or through our dedicated RSS feed for Overcast and other podcast players. Sponsored by BenQ: Check out BenQ's smarter displays made for how Mac users actually work and sign up for the giveaway here. New episodes of 9to5Mac Daily are recorded every weekday. Subscribe to our podcast in Apple Podcast or your favorite podcast player to guarantee new episodes are delivered as soon as they're available. Stories discussed in this episode: Berkshire Hathaway reduces Apple stake as Warren Buffett officially retires Apple's low-cost MacBook might lack these features Apple acquires startup specializing in AI-powered light and optics Listen & Subscribe: Apple Podcasts Overcast RSS Spotify TuneIn Google Podcasts Subscribe to support Chance directly with 9to5Mac Daily Plus and unlock: Ad-free versions of every episode Bonus content Catch up on 9to5Mac Daily episodes! Don't miss out on our other daily podcasts: Quick Charge 9to5Toys Daily Share your thoughts! Drop us a line at happyhour@9to5mac.com. You can also rate us in Apple Podcasts or recommend us in Overcast to help more people discover the show.

Warren Buffett hat zum Jahresende den Vorsitz seiner Investmentgesellschaft Berkshire Hathaway abgegeben – irgendwie unvorstellbar. Portrait eines Mannes, der nie verkaufen wollte.

No vídeo de hoje, exploramos a recente onda de pessimismo sobre o Bitcoin, que tem sido negociado na faixa de 64.000 dólares. Enquanto o ouro vive um momento de alta, superando os 5.200 dólares por onça troy, surgem análises precipitadas sugerindo que o Bitcoin fracassou, perdeu seu propósito ou que suas narrativas de sustentação ruíram.Analisamos como esse ceticismo não é novidade no mercado financeiro. Traçamos um paralelo histórico com o próprio ouro, que já enfrentou períodos severos de bear market e desconfiança sobre seu papel como ativo de proteção. Investidores renomados da "velha guarda", como Charlie Munger e Warren Buffett, historicamente detestam o ouro por ser um ativo que não gera fluxo de caixa ou rendimentos , e aplicam hoje a mesma lógica ao Bitcoin.

Keith digs into what's really going on with apartments now that values in many markets have dropped 20–40%. You'll hear why larger multifamily properties have been hit so much harder than one-to-four unit rentals, and what that means for both current owners and new buyers. "The Apartment King," Brad Sumrok, joins the conversation to share how recent economic shifts, financing structures, and market forces have reshaped the apartment landscape—and why he believes we may be near a key turning point in the cycle. You'll also learn how investors are approaching deals differently today, what makes certain markets and property types more attractive right now.  Resources: Learn more about Brad here. Episode Page: GetRichEducation.com/594 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching: GREinvestmentcoach.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  For predictable 10-12% quarterly returns, visit FreedomFamilyInvestments.com/GRE or text  1-937-795-8989 to speak with a freedom coach Will you please leave a review for the show? I'd be grateful. Search "how to leave an Apple Podcasts review"  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— GREletter.com  Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Keith Weinhold  0:01   welcome to GRE. I'm your host. Keith Weinhold us. Apartment Building values have fallen 2030, even, 40% over the past few years. Investors lost millions. What are all the reasons that it happened? And when will apartments turn around? I'm joined by the apartment king today on get rich education.   Corey Coates  0:26   Since 2014 the powerful get rich education podcast has created more passive income for people than nearly any other show in the world. This show teaches you how to earn strong returns from passive real estate investing in the best markets without losing your time being a flipper or landlord. Show Host Keith Weinhold, writes for both Forbes and Rich Dad advisors, and delivers a new show every week since 2014 there's been millions of listener downloads of 188 world nations. He has a list show guests include top selling personal finance author Robert Kiyosaki. Get rich education can be heard on every podcast platform, plus it has its own dedicated Apple and Android listener phone apps build wealth on the go with the get rich education podcast. Sign up now for the get rich education podcast or visit get rich education.com   Keith Weinhold  1:09   the same place where I get my own mortgage loans is where you can get yours. Ridge lending group and MLS, 42056, they provided our listeners with more loans than anyone because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. Start your prequel and even chat with President chailey Ridge personally while it's on your mind, start at Ridge lending group.com that's Ridge lending group.com you   Corey Coates  1:40   you're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  1:59   Welcome to GRE from Monterrey, California to Monterrey, Mexico and across 188 nations worldwide. America's favorite shaved mammal on a microphone has got his slack. John, act back on track for another wealth building week with you. I'm Keith Weinhold. This is get rich education, and I'm still not wearing a pair of Dockers. We all know that the one to four unit space single family homes, up to four plexes have held under their values despite soured affordability, but five plus unit apartment buildings are a drastically different story. We're going to talk about just how much value they've lost recently, and the reasons why it's about more than just the interest rates doubling and tripling that began in 2022 Today's guest is an apartment educator. His students have had both losses and wins over time. I'll ask about both, because adversity is where you get the lessons now today, you might buy an apartment building at a steep discount compared to what it sold for five years ago. And who might you buy an apartment from today, it might not be the type of seller that you're thinking about because of owners defaulting you might now be buying it from a bank that had to basically repossess it. Yeah, you might try to buy it from a lender at 60% of the loan amount. Well, a lender doesn't want to do a 40% write down, so they're going to try to get more and see. That's how this could practically look today for an apartment owner that survived the crisis and is still standing today. They're asking themselves, now, why would I sell at a discount if I don't have to? So they're probably going to try to hold on. And then, of course, the tenants in these apartments don't know that any of this is going on now. I own a lot of single family rental homes myself, also apartment buildings in the one to one and a half million dollar range is where I've played, and often that ends up being eight to 12 units, because in that space, I don't need partners to invest in assets of that size. One to $2 million is also small enough so that you're not competing with institutional money and other players. Today, I'll tell you what I did with some of those buildings myself when interest rates reset about four years ago, and before you and I wrap up the show today, I've got something to tell you about what's coming in future. GRE episodes here stuff that's really unexpected as the apartment King waits in the wings. One last thing to tell you about, like I mentioned to you recently, investors say that they want an opportunity, but what they really want is certainty. Once certainty arrives, the opportunity. Is gone.    Keith Weinhold  5:01   Our GRE live event last Thursday was a success. It is about how central Florida is the most compelling housing market right now, with the builder offering rate buy downs as low as 3.75% and, you know, I just ran the numbers on something, and I can hardly believe this. All right, right. Now owner occupied mortgage rates are near 6% this means investment property rates are almost 7% with the rate by down to 4% here's how your cash flow looks with a 30 year fixed rate mortgage on a 300k loan with a 7% rate, your p and i payment is 1996 at a 4% rate. It's just 1432, this is a reduction of $564 per month, a whopping payment difference. That's really the difference between treading water and stacking cash flow on these brand new build properties that we're talking about here in Central Florida. So talking about opportunity and certainty, that is a big measure of both. Yeah, before I ran the numbers, I didn't realize that the spread was this wide. With high demand for these properties, the builder does have some more available, a long term fixed rate of around 4% it should be up for you now you can see the limited time replay of GRE, freshest live event at grewebinars.com, in case you want to look into This again, grewebinars.com let's discuss the apartment market. Foreign apartment building values have fallen at 20% 30% even 40% over the past few years, depending on the market that they're in today, we're going to learn how bad it is, why it happened, and if that actually creates an opportunity here in the late 2020s, decade, our guest is known as the apartment king. He is the number one nationally known educator and mentor for apartment investing. He started with a bang in 2002 by making his first ever real estate investment, not a four Plex like I did, but a 32 unit apartment building, and he's now owned and invested in over 11,000 units and over 1 billion in assets under management. He's received awards like the naa independent owner of the year, and he's the star of the massively popular in person events that he puts on, which you'll learn about soon. Hey, it's been several years. Welcome back to the show. Brad sumrock,   Brad Sumrok  7:46   hey, Keith. It's really good to be on again. Nice to be here.   Keith Weinhold  7:50   Brad and I were together in person last month, and we also talked physical fitness. Then Brad is one of the fittest guys you'll ever meet in person. He just looks fantastic. We want to hear about your apartment forecast shortly. Brad, let's talk about the hard stuff. First, you've endured adversity since we last had you here several years ago. Tell us about that.   Brad Sumrok  8:14    Well, look, I mean, I think anyone that's been serious about investing in apartments over the last five years. And I'll also say it this way, anyone who did a deal and say 21 the middle of 21 till probably the end of 2022 it's very likely that that property is worth less today than than it was when we bought it. So that, in itself, has created, you know, adversity, because I got into the business in 2002 and the market went up until 2008 and we went through a downturn in 2008 nine and 10, as is, I'm sure you're aware. And then the market went up again until around 2021, mid year. And then, due to so many reasons, and I could go into those reasons, but let me just just cut to the chase. That you alluded to is we had another downturn, and so the downturn, you know, impacts property values, it impacts confidence, it impacts investor appetite to do deals. It impacts just about everything related to the business, on the investment side, and the other business that I'm in, which is the seminars, the events and the mentoring. So it's been a big downturn, and we could go into those, you know, into the reasons why, and I'm sure you'd like to know my take on that. But now is a great time, because things are recovering, and one of the things Tony Robbins teaches Keith is pattern recognition. It's like I've been through two downturns, and I could see the patterns, and it occurs to me that we're at or near the bottom of a cycle. So like it's also a good time to be gearing up.   Keith Weinhold  9:50   Now, many realize but for those uninitiated on this, the one to four unit space really didn't feel much pain starting in 2022 so much of that is time. Two people get long term fixed interest rate debt on the one to four unit property, but it's shorter term debt on five plus unit apartment buildings. So when interest rates went up, people soon had to pay those higher rates. They were underwater. That's really the genesis of so much of the apartment building pain.   Brad Sumrok  10:19   Well, and I would say, look, it was, I'm going to throw a bunch of things at you here. So we had the pandemic, right? And during the pandemic, people got paid to stay home from work, right? The government printed, what, $5 trillion worth of money, right? And so that kicked off what became a period of, like, very high inflation. And you know, the published number was 9% but I think a lot of people experience certain items that were a lot more than 9% like, for example, for sure, in 2022 when we bought a 286 unit property, you know, we were able to replace all the appliances inside of a unit in The kitchen, you know, for $1,800 and even today it's like $3,200 so that's a little bit more than 9% and so we had that. So we had the printing of money, we had inflation, we had variable rate debt. Why did people do variable rate debt? The first thing I'll say is there is a place for variable rate debt. But what happened in 2021 and 2022 is the fixed rate lenders, which are typically the government sponsored agencies Fannie and Freddie. They were still lending money, but because of their criteria for lending, if you would go with one of those loans, you would get like 50% leverage the shorter term lenders that would give you the three year loans, you can still get like 75 to 80% leverage. So the vast amount of people that were buying anything in 2021 and 2022 I mean, I'm not just talking about myself. I'm talking about people with 2030, 4050, 70,000 doors all over the country, they were buying with short term debt. And historically, short term debt performs at or better than long term debt. I mean, think about it, when you get a long term, 10 year fixed rate loan and multifamily you have prepayment penalties. You know, when the market's constantly going up like it did, from 2012 to 2022 you could get that fixed term loan. You could pay it off early, you could pay the seven figure prepayment penalty, and you could still make lots and lots of money, and that's what people were doing. So when you bake in the prepayment penalties on long term debt, you know short term debt is oftentimes the better option. Well, nobody saw the Fed raising rate 16 times in 12 months. And look, I don't care what anybody says, Nobody predicted it. If they had predicted it, they would be probably the richest person in the world right now, right nobody saw a comment like, there may have been some people that said, hey, yeah, this is going to happen, or this is going to happen. But what actually happened with the Fed rates over a very short period of time was unprecedented. Unprecedented means it never happened before. So it's not something you could anticipate or something anyone can model. Okay? And so what that did is most of us had what's called an interest rate cap, which is an insurance policy that if the rates go up too much, that yours is capped. But the problem with those rate caps is they're only good for like, two years, right? So we're buying these deals in 2021 and we're getting short term debt, which is a three year debt. And in two years, in 2023 the rate cap expires, and now the rates are 9% instead of 3% and when we bought the deal, the rate cap insurance was $40,000 and now it's a million dollars. And so you're in a very awkward, unfriendly financial situation. And it wasn't just that. So it wasn't just inflation, it wasn't just interest rates. And many of us sung belt markets, specifically Texas and Florida, which historically have been some of the best markets to invest in, because of migration and no taxes, and then landlord and business friendly environments. Well, these states also suffered a lot of named storms, with, you know, hurricanes and wind storms and hail storms and so in these markets, at the same time, we had rising rates. At the same time, we had massive inflation. Now we also have insurance rates doubling or even tripling in some occasions. And then the final thing was, during the pandemic, a lot of the multifamily projects that were in the middle of being built, these development projects, they all slowed down. People couldn't work. And so back in 2020, or after we're fully recovered from the pandemic, some of these markets, like Nashville and Austin and Dallas and Houston and Phoenix, they got deluged Keith with new supply coming on, like a disproportionate amount of new supply. So there's like five. Five things that contributed to multifamily being really tough in the last few years. And so it wasn't just people with short term debt that had challenges. It was probably just about anybody that bought a deal within an 18 month timeframe that I outlined before that just really experienced challenges, and some of those people are still in deals, right? And so let's just take a deal that's, you know, a $10 million deal with a $7 million loan. Well, that deal right now might be only worth 7 million, yeah, and that's the opportunity. So the owner that has that deal may get punched in the face, so to speak, you know, by the market, and they may lose their equity in that deal, but the borrower coming in, or the buyer coming in, like one of my mentees right now, had a deal that was listed at 11 million, and he's picking it up for seven, which is, like, at or below the current loan value. So one buyer group's loss is the new buyer group's opportunity, if that makes sense   Keith Weinhold  16:03    right? 100% there's nothing unusual at all about the mortgage rate levels that began to go higher about four years ago. The unusual part, and Brad has touched on it, is the rate of increase, with mortgage rates doubling or tripling in a short period of time, within about a year or so, but yeah, it's a great point. It's about more than the mortgage rates. It's about increasing insurance costs and increasing expenses of all types, like you talked about with the appliances there, and then, even if you were able to weather all that as an apartment building owner, with all of the supply coming on to the market, when supply exceeds demand, we know what happens to price, and we also know that you can't raise rents very much with all of this supply coming on the market, but the supply of new apartment buildings, that inflow, that wave, is beginning to die down, because builders got the memo quite a while ago that they need to stop building at such a fast pace in places like Florida and Texas and you know, Brad, there are a lot of asset classes that have been beaten up lately. We can always point to a few. You can look at Bitcoin or nfts or even commercial office space. Now those assets might bounce back, but they don't have to, because no human needs those things. But I expect apartments to bounce back because having a place to live is a primordial Maslow and human need. It's almost inevitable. In fact, shelter is at the base of Maslow's hierarchy of needs. So a bounce back has almost got to happen. Yeah.   Brad Sumrok  17:46   Look, it's becoming the big word right now in politics. Right is affordability. And so when you look at affordability, if you take a median priced home in this country of say, $400,000 I don't know if that's the actual median, but maybe it's around 400 420,000 100, $420,000 yes, to buy that home. And who's going to buy a $420,000 home? It's going to be a working class family making 60 to 70,000 a year, right? They could rent a median priced apartment unit for $1,800 a month, or they could pay a 20% or a 10% down payment on a $400,000 homes, and they need 40 to 80,000 down right, or maybe less, but they still need a down payment and that p i, t i, the principal, interest, tax and insurance is going to be around $3,100 okay, so there's a $1,300 per month gap, and that's a big, big gap for that working class family. And so where are they going to live? Like we're becoming more and more of a renter nation? Keith, and the statistics that I read say that only 27% of American families can even qualify to get a mortgage, yeah, on a $400,000 home. So we're becoming more and more and more of a nation of renters by necessity. And so the demographics like look, all markets are not equal. You got to know what's going on in your market. But there are markets, ie locations, geographies that have even a higher affordability gap. You know, some markets have a 2000 a month or a $2,500 a month affordability gap. So you're going to find more and more people renting in these markets.   Keith Weinhold  19:37   Yes, there is a premium to ownership opening up that gap, and that's why we have this wave of renters that's really already begun. In about the last year, the American homeownership rate has fallen from 66% to 65% 1% doesn't sound like much, but that already means that we have 1.3 million new renters. We're going to talk to Brad some more, including about. His apartment market forecast you're listening to get rich education. Our guest is apartment King. Brad sumrock, more when we come back, I'm your host. Keith Weinhold,    Keith Weinhold  20:09   flock homes helps you retire from real estate and landlording, whether it's one problem property or your whole portfolio through a 721 exchange, deferring your capital gains tax and depreciation recapture. It's a strategy long used by the ultra wealthy. Now Mom and Pop landlords can 721, the residential real estate request your initial valuation, see if your properties qualify@flockhomes.com slash GRE. That's f, l, O, C, K, homes.com/gre,   Keith Weinhold  20:45   you know, most people think they're playing it safe with their liquid money, but they're actually losing savings accounts and bonds don't keep up when true inflation eats six or 7% of your wealth. Every single year, I invest my liquidity with FFI freedom family investments in their flagship program. Why? Fixed 10 to 12% returns have been predictable and paid quarterly. There's real world security backed by needs based real estate like affordable housing, Senior Living and health care. Ask about the freedom flagship program when you speak to a freedom coach there, and that's just one part of their family of products. They've got workshops, webinars and seminars designed to educate you before you invest. Start with as little as 25k and finally, get your money working as hard as you do. Get started at Freedom family investments.com/gre, or send a text. Now it's 1-937-795-8989, yep. Text their freedom. Coach, directly. Again. 1-937-795-8989,   Hal Elrod  21:58   this is Hal Elrod, author of The Miracle Morning, and listen to get rich education with Keith Weinhold, and don't quit your Daydream.   Keith Weinhold  22:13   Welcome back to get rich Education. I'm your host, Keith Weinhold. We're talking about a sector we have not talked about very much lately because it's been in rather moribund condition, but we are beginning to turn the corner where there are more opportunities in apartment building investing, because it's been beaten down an awful lot. And Brad, that plays right in to your apartment forecast. So tell us about some of the highlights of your apartment forecast.   Brad Sumrok  22:38   Yeah, sure. And one of the things that I want to share with you, Keith, is that, you know, back in the peak of the market, the market peaked, say, at the end of 21 early 22 there were so many investors that were in multifamily or that wanted to be in multifamily. And the other thing that caused this so called, you know, downturn that I didn't mention before is, let's take this $10 million deal. If a property was listed at $10 million you'd literally have 30 to 40 buyer groups pursuing that deal, bidding up the price. Yeah. And so a $10 million Listing would sell for 11 and a half million Okay, now what I'm seeing is that same $10 million deal might sell for a seven to 8 million and you might be the only buyer going after the deal. Wow. And how do I know? Because you said, like, I run a an investor community and and I have active multifamily buyers, and I coach them, and I look at their deals, and this is what's happening. And the other reason I know is I sold two of my deals personally in 2025 and both of the deals that I sold, I bought in 2015 where we had 10 year fixed rate debt. So we didn't sell because we had a three year loan. We needed to sell because we had a 10 year loan due. And look, first thing I'll say is I made money, because over that 10 year period, values did go up. They peaked in 2022 and they came back down that because I bought it so long ago. That's the one lesson that I think people also want to understand, is over the long term, the values always tend to go up, but there are short term ups and downs that one would need to be aware of. But when I sold these two deals like I didn't have many buyers one deal in particular. I mean, I had eight buyers going after the deal, but only one was anywhere close to what I wanted. So I was negotiating with myself, you know, telling the buyer and his broker, hey, you know the other guys are here, and you got to come up on price and you got to come up on terms. But truthfully, I was bluffing, because I didn't have anybody that was coming up on price or coming up on terms. And so part of why I'm answering this way is when you look at the forecast, one thing that that I want people to know is that those. Of us that are in the business now and that have our pencils up, and we're underwriting deals, and we're making offers, like I used to teach Keith, don't make lowball offers, because you'll develop a reputation of being that guy or that borrower or that buyer that submits lowball offers, right? And word will get around in that market? Well, right now, like low ball offers are expected, and I would encourage people, let's just say you make an offer that whatever the deal pencils out to. So if you know how to underwrite deals correctly, and they're offering 10 million as a listing price, and you're coming up at seven or 7.5 don't be bashful to make the offer, and you may be the only buyer in the game. So that's one thing is like the competition that I'm seeing right now on the buyer side is not a lot of competition, and that's definitely shifted to a buyer's market. So people need to know that. The other thing I would say, on the macro level, is there's still a lot of uncertainty out there, and the uncertainty is kind of becoming like what I would call a new normal. You know? I'll speak for myself. When Trump was elected and at the end of 2024 I thought it was going to be amazingly well for all of us real estate investors, right? And there are some things that have been like the big, beautiful bill that restores 100% bonus depreciation like this is a really good thing, but you know, the tariffs, the immigration policies, some of the things that he's doing, you know, they have mixed impact for us and our in the economy and in real estate and in multifamily. And the thing is, when he first started doing that again, like lenders, they didn't know how to price debt, like, what's going to happen with tariffs, what's going to happen with ice what's going to happen with immigration, you know? But now that we're a year in to his second term, I can tell you a couple things. Debt is back. Lenders are lending. They're confident. Lenders are issuing debt like you can get 70 to 75% of your acquisition funded by a commercial lender. The government agencies are lending. Freddie Mac is lending. Fannie Mae is lending, and they have a mandate to lend 20% more money in 2026 than they did in 2025 so that bodes well for people that want to get, you know, affordable workforce housing, which is my specialty, also known as Class B and Class C housing. So the lenders are lending like, there's a lot of debt out there. One of the challenges is the equity. There's a lot of institutional equity. But if you're going to the retail investor who got into the business three to five years ago. They don't want to hear about your next deal right now, they're wondering about, hey, what about the deals that I'm in? Right? So one of the things that I'm doing, Keith is, and I think, you know, this is like, you know, I build up a huge investor community from 2012 to 2022 and I did it by traveling the country, speaking at conferences, sponsoring trade shows, talking about the benefits of investing in apartment buildings, how it changed my life, how it enabled me to retire from a six figure income in just three years, and how I've helped many, many other people Do the same, and also just sharing experience today, every asset class, every 10 to 15 years is going to go through a correction. And so where we're at now. And I wasn't the only one on the forecast. I brought in John Chang who is the senior intelligence officer at Marcus and millichep, one of the biggest commercial real estate firms in the country, and he presented about 20 or 30 slides that by and large were very bullish on where we're at in the market cycle. Why now is a great time to be looking at apartment buildings, a lot of the same things that I've been talking about. Prices are down. It's a buyer's market. We have a huge affordability issue. More and more people are becoming renters, and so what I'm committed to do, Keith and I don't know if I shared with you my travel schedule, like when we met each other last month, but I'm on the road every single week going to another city, talking about where I see us right now in the market, and why people should be looking at deals and making offers right now. Because to me, you know, Warren Buffett said it best. He's like, you want to be fearful when everybody else is being greedy, and you want to be greedy when everybody's being fearful. And right now, people are on the sidelines. They're waiting for some green light, like for the Wall Street Journal to come out and say, Hey, now's a good time, you know? I mean, look, Trump, just the point of the new Fed chair, right? And so we know interest rates are going to go down like that's one of his goals, and the guy that he appointed is going to lower rates. So we're looking at a future, a very near future, where we have lower rates, and lower rates is going to create more demand, again, for people that want to buy. I invest in apartments now, look, if you wait another year, I still think it's going to be a good time, but I think we have a better time right now.   Keith Weinhold  30:10   I sold one apartment building in 2022 for about $1 million and I sold another one of my apartment buildings in 2023 for about $1 million I had bought those in 2013 with 10 year balloon loans, so I was enjoying that nice fixed rate as late and as long as I could, until 2022, nine years and 2023, 10 years before the rate went up on me. But of course, my new buyer had to pay that rate, so it limited the amount that they could offer for it. However, to your point about investing for a long time horizon, I still had profits on those nine and 10 year holds, but yeah, to your point, Brad about the looser lending, this is huge. I read a summary of the latest national Multifamily Housing Council meeting, and one of the biggest takeaways that came out of that meeting is that there is abundant debt available. It's in increasingly attractive terms. And a lot of people think about mortgages, and they just think about the rates, and you should that's certainly important, but they don't think as much about the propensity for others to lend. How loose, or how tight are those standards? They're loose, yeah.   Brad Sumrok  31:25   And, I mean, look, the first deal I did in 2002 the interest rate was 6.35% the rates right now are less than that, you know, as of the date of this recording. So, you know, I always talk about a base case of a $10 million deal. It may seem large to you or to people listening, but like in my world of syndication, where we're not just looking at the real estate piece, but learning how to raise money to buy real estate so we could have a bigger property that's professionally managed and become a true business owner like Robert Kiyosaki talks about, do you want to be self employed? I tell my students, buy a six Plex. Do you want to own an apartment business by 60 units and hire a management company? So when I'm talking about this $10 million deal, you know, you can get a $7 million loan right now for probably in the mid 5% and it would be non recourse, and you could probably get three years of interest only, meaning for the first three years, you're going to have a higher cash flow. So like, this is a really good loan compared to 2021 when we could get 3% debt. It's not but remember that 3% loan was a short term loan. You know, it wasn't a 10 year fixed rate loan, it was a short term loan, and we all saw what happened with that when they raised rates so many times in such a short period. So the fixed rate debt is very competitive based on, like, the long term, 20 year average, and it's lower than it was when I started.   Keith Weinhold  32:55   Well, we've been talking about elements of your apartment market forecast, and of course, that's going to inform your Buy Box. Brad, you mentor students constantly and oftentimes we think about a Buy Box. We think about then in terms of geographic market, but as we look for an opportunity, we also might think about some other things in your Buy Box, for example, new build versus vintage build. So with all of this traveling you do, and you're in the markets, and you're informing students, and you're looking at students prospective deals as well. But tell us more about what a good buy box is for the near term in apartment buildings.   Brad Sumrok  33:36   Yeah. So look like what is in the buy box, right? So one is going to be your location. And so, you know, how do I select a good location? Just some tips and strategies around that is, I look for landlord and business friendly environments. In other words, if the tenant doesn't pay, do they get to stay or not, you know, so I like to be in market so that they don't pay, that we could legally, you know, not have them consume our product for a long period of time. So I also look at things like job growth and population growth, affordability gap. New supply is a percentage of inventory, you know, the new supply coming online in a diversified economy. So, like, you want to get your geographies nailed down. Like, where you buy matters, like, there's no substitute to I would rather pay more for a property in a location that meets that criteria than less for a property that doesn't. Yeah. So geography is important. You want to pick your property size, like, how many units, or what's the price point. Okay? And this is huge, because if you're gonna buy your own deal with your own money, which is another reason I prefer syndication. Let's say you have pick a number, 100,000 to invest. Like you can only buy a $300,000 property, two units somewhere, three units somewhere, you know. Or zero units somewhere, right, right? So if you have expanded your you know, your mind and your skill set to do a syndication 100,000 doesn't limit you to your own money, you know. And then I would say, Well, what is a great size for a first time syndicator is I would target somewhere around 60 to 80 units, and at 100,000 a unit, which is a ballpark price for maybe a nice B class property or high C Class property, and a market that meets the criteria that I outlined earlier. You know, you're looking at, say, a six to $8 million property. And so what you could do from there, Keith is, you could say, Okay, well, you know, this is why, like in my educational course, I use a $10 million property, because the numbers are easy. But even just say, Well, I'm going to do an $8 million property, you'd say, Okay, I need two to 3 million down, depending on the debt, right? And then I'm going to get a the balance in a loan, you know, because you could get a 70 to 75% loan. So then you ask, Well, where am I going to get to 2 million, right? If I have 100 I need $1.9 million and so then you got to start thinking about like, do I have access to people or work or in the neighborhood or at the community or at the church, you know, or do I go to masterminds and conferences and meetup groups like, where I saw you Keith last month, like, there's a lot of investors there with a lot of money, right? And some of them are looking to be passive investors. And so, you know, there's a whole nother conversation around, you know, raising capital. And if you can't raise capital, then you may want to bring in some people on your GP team that could help you raise capital, as long as you're following, like the SEC compliance and again, that's another discussion. That's the importance of having the buy box so you have your geography, your property size, your property class. You know, again, if you just want the new construction stuff. There's some people out there, like big name, famous people, that are highlighting their 800 unit a class deals that they're buying. And of course, like you or I that are just getting started, can't go buy that deal. And so why? You know the institutions are going after the large A class properties in the best areas. And so where I've made my niche Keith, and what I would recommend most people start is start with the older vintage properties, start with the 1970s properties, and then maybe work your way up to the 1980s and 1990s properties. And why is this is because the institutions don't want those properties, and they're still able to be professionally managed. Like, if you go and buy 100 unit C Class property, as long as it's not in a bad neighborhood with, like, high crime or whatever like that. Like, these are very honest, hard working, working class people that need a clean, safe and functional place to live, and you'll be able to get better returns on a C or A B class, also known as like the cap rate. And again, that's another discussion, but you'll be able to get a better return on an older vintage property than you would on a vintage property. And you're not competing with the institutions, but you're also not competing with the mom and pops, because the mom and pops are going to take that 100,000 they have and go buy a duplex. You know, they're not going to want to syndicate a deal. They're not going to want to have partners. They're not going to want to deal with the so called complexities of buying a company. And that's what buying an apartment community is, Keith, it's buying a company. You're buying a business that has an income stream already being generated those customers, they're called residents. They're called tenants, you know, but if you just go upstream from buying real estate or buying an apartment building, we're buying a cash flow producing business that's existing, that's in place, and then our job is to figure out how to run it better and more efficiently. You the   Keith Weinhold  39:04   You the listener, you might have access to, say, 500k in equity that's sitting in your existing properties. And some of these numbers that Brad and I are throwing around are rather large, $10 billion but one of the biggest epiphanies that I think your students have is that doesn't need to be much of your own money. We're talking about what's called the capital stack to take down a $10 million apartment building. Maybe you borrow seven and a half million of that. Maybe you raise 2 million of that from your other investors in the syndication, and then you put your 500k into the deal, and there you have $10 million in order to make that purchase. But yes, that does involve a learning curve and the SEC rules and all that. But the big takeaway here is you don't need much of your own money. You can leverage other people's money, even for the down payment. And Brad, you're also an expert at showing people how to pay almost. Zero tax, which is another discussion unto itself, but some of your students start with zero experience, and within a few short years, I mean, you've had hundreds of people that have either retired early or increased their net worth by over a million dollars. A lot of success stories,   Brad Sumrok  40:17   yeah, look, I mean, I started with no previous real estate investing experience. My experience was going to college, studying hard, getting decent grades, becoming an engineer, you know, being fired once, being laid off once, and reading Robert Kiyosaki books that motivated me to to go out and seek specialized education. And I think it was Jim Rohn that said formal education, like degree could get you a job, and specialized education like you can get in a conference or a mastermind or a mentorship program. And that's also how I started. I went to a weekend workshop back in 2001 and I bought the mentorship program. And boy, I'm glad I did, because, you know, that's how I got into my first 62 units. So you don't need to have experience. What you need to have is a powerful reason, a powerful why? Why do I want to be financially free? Like apartments is just a vehicle. I didn't choose apartments because I love departments. I choose departments because they cash flow, they go up in value, and you have amazing depreciation benefits.   Keith Weinhold  41:23   Yeah, I'm the same. I don't love apartments in a way. I don't love real estate. I love what these things do for me    Brad Sumrok  41:30   exactly. Yeah? So, like, you don't have to have experience. In the other category, of people that have come into my community that don't have apartment experience, a lot of them have real estate experience, Keith, that are doing, like, single family homes, short term rentals, or maybe smaller, multi unit deals. And they listen to a show like this, and they're like, huh, I want to transition from doing these smaller types of assets with my own money and self managing to scaling into a syndication.   Keith Weinhold  42:03   Brad has taken countless people from get rich education to got rich education. His core values are faith, finance, fitness, family and fulfillment. He is committed to helping people experience not just financial success, but personal fulfillment, purpose, contribution, freedom and Brad and his investor community have contributed over $1 million to charity. Is really the person you want to learn from if you want to think about going bigger with multifamily apartment buildings. This has been great, Brad. Let our audience know how they can connect with you and learn more?   Brad Sumrok  42:42   Yeah, sure. So I would say this is where I should just be very clear here, okay, but I'm gonna give a couple options, because that's what I'm so of course, there's a website which is my first and last name.com, B, R, A, D, S, U, M, R, O, k, for those of you on social media, I respond to my own social so you'll find me again. B, R, A, D, S, U, M, R, O, K, on LinkedIn, Instagram and Facebook.   Keith Weinhold  43:13   Brad, it's been so valuable. It seems like American apartment buildings are in for redemption story here. It's been great having you back on the show.   Keith Weinhold  43:29   Brad and I both emphasize physical fitness, and we chatted about that a good bit when we were together last month. I think he looks better than me. To summarize, the reasons for this historic collapse in apartment building values. It was the combination of soaring interest rates, massive inflation, spiking insurance costs, construction soared, and it created an oversupply, and that oversupply still is not absorbed. In fact, according to the outlet apartment list, the National multifamily vacancy rate recently hit 7.2% that's the highest in the history of the index, which dates back to 2017 and that's chiefly due to apartment oversupply. Have apartments really hit the bottom? Brad just said, we're at or near the bottom, and it's a good time to be gearing up as far as what's coming. To give you an idea of new apartment supply, what takes about two years from construction start to completion. And now you can't just have all US apartment construction come to a complete stop. You have to keep people working. And there are almost 400 MSAs in the United States, so you couldn't coordinate a complete ceasing of construction across every area. So how about the level of new construction starts in apartment units today, and the way that HUD counts it is the number of units started in buildings of five plus units the recent peak. Was about 600,000 annually in 2023 and today it's closer to 400,000 there it is that slowing pace of new apartment construction. If you jump into multifam, be careful of properties with deferred maintenance, because understand that you have a lot of underfunded owners Now Brad can tell you specifically what to look out for his rat race to retirement event is March 28 and 29th in Dallas. It's a two day hands on workshop. You'll learn how to find apartment deals, how to underwrite deals, how to raise capital management and your exit. Discover how you can retire in five years or less by owning apartments again. His website is Brad sumrock.com    Keith Weinhold  45:49   coming up on future episodes here on the get rich education podcast. We're about to go on a run. The next stretch of GRE is loaded. We've got fresh topics with some game changing monolog content that I'm going to share with you new guests, distinguished experts, we're going to break down an innovative way to sell properties that could completely change how you think about your exit strategy of the 50 US states. I'm going to discuss some awful states to invest in, including ones with population loss. On another episode, a distinguished subject matter expert and I are going to dive deep on does America really have a housing shortage, not in apartments which are oversupplied, but is there a shortage in the one to four unit space? That's our topic, because you probably heard contradictory information in the media about whether there's a shortage or not, and then some outlets say there's a housing shortage of 2 million units. Others, 10 million. They're all over the place. We're going to sort it out on an upcoming episode. Does America really have a housing shortage? Then the youngest guest to ever appear on the show will be with us. He's a 19 year old college student that has a real estate investing related major, and since last year, he and I have befriended each other. He was born in about 2006 so it'll be interesting to see how he views the investing world and what they teach him about real estate investing in college today, he is probably the most impressive teenager that I've ever met in my life. Then six weeks from now, we will have an epic get rich education podcast episode 600 on a subject as paradoxical and complete with a GRE contrarianism That builds real wealth, debt is the American dream will be episode 600 if you're serious about building wealth, be sure to follow or subscribe to the show. We are going on a run. If you know someone in your life who needs to think differently. If you know one investor who's still waiting for perfect conditions. This will help them tap the Share button and tell them about the show until next week. I'm your host. Keith Weinhold, don't quit your daydream.   Unknown Speaker  48:14   Nothing on this show should be considered specific, personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC, exclusively.   Keith Weinhold  48:42   The preceding program was brought to you by your home for wealth, building, get richeducation.com  

With the Supreme Court striking down the Trump Administration's reciprocal tariffs, and the announcement of new 15% tariffs by The White House, the economic forecast has become another blizzard of uncertainty. Kyla Scanlon, author of “In This Economy?”, helps us decode the sour vibes in this current economy, and the challenges facing investors. Plus, Berkshire Hathaway shareholders are bracing for an earnings report and shareholder letter that won't be delivered by Warren Buffett for the first time in sixty years. No pressure. Learn more about your ad choices. Visit podcastchoices.com/adchoices

The concept of the "20-mile march," a principle that prioritizes relentless consistency over the common trap of erratic intensity, comes under McKay's scrutiny this week. He demonstrates how this disciplined approach allows individuals and organizations to outperform their peers by focusing on steady progress regardless of external conditions.Drawing on historic Antarctic expeditions and Jim Collins's research, McKay highlights how a fixed daily quota provides the durability needed to survive the "long middle" where most people quit. He examines the creative habits of Jerry Seinfeld and John Grisham, illustrating how a commitment to "not breaking the chain" transforms volume into the appearance of inevitable talent. By analyzing the restraint of Warren Buffett and Southwest Airlines, he explains why setting an upper bound on growth is just as vital as meeting a minimum target. Ultimately, the 20-mile march reduces emotional load and builds a quiet form of confidence by turning discipline into a core identity.Main Themes:Consistency as the primary driver of 10x successThe "Don't Break the Chain" philosophy for professional masterySurviving the "long middle" through predictable rhythmsWhy restraint and upper bounds ensure long-term durabilityTurning discipline from a chore into a core identityReducing emotional load through the 20-mile marchThe Grisham Method: The power of a single daily pageWhy getting back down is more important than reaching the summitConsistency over intensity in volatile marketsBuilding trust in oneself through reliable actionTop 10 Quotes:"The disciplined team survived; the reactive team did not.""Moving to action despite circumstances makes all the difference.""What looks like talent from the outside often turns out to be volume filtered through discipline.""The 'don't break the chain' approach did not make Seinfeld funny; it made him inevitable.""The march carried him through the long middle, the place where most people quit.""Restraint matters as much as effort.""You stop seeing discipline as effort and start seeing it as who you are.""Getting to the top is optional; getting down is mandatory.""The 20-mile march is not about ambition; it is about durability."Show Links:Open Your Eyes with McKay Christensen

On episode 190 of Kliq This, Kevin Nash and Sean Oliver kick things off by examining the rapidly evolving world of AI-generated content, reacting to a shockingly realistic AI film featuring digital recreations of Brad Pitt and Tom Cruise. The duo debates whether this technology will ultimately replace traditional entertainment or remain a novelty, with Nash offering his characteristically skeptical take on the promises of Silicon Valley and the tech industry at large. The conversation shifts into the financial arena as Nash and Oliver dissect what they see as modern-day Ponzi schemes, from Bitcoin's volatile valuation to the murky world of precious metal ETFs. Nash channels his inner Warren Buffett, passionately arguing that nothing has true value unless it produces something tangible, while Oliver highlights the absurdity of paper silver trading at 350 times the amount of physical silver that actually exists. The pair also takes aim at Pam Bondi's now-infamous claim that the Dow crossed $50,000, using it as a springboard to discuss the current state of political and financial literacy. In the heart of the episode, Nash fields fan questions about the inherent dangers of professional wrestling, delivering a masterclass in ring safety. From his death-defying descent from the ceiling as Sting at World War 3 1997 to his philosophy on Hell in a Cell matches, chair shots, battle royals, and blading, Nash reveals the tricks of the trade that kept him safe over a decades-long career. He explains why he insisted that Hell in a Cell should stay "in" the cell, how he took chair shots without contact, and where wrestlers hide their blades — including Hulk Hogan's notorious habit of stashing his in his mouth. The Mount Ashmore segment crowns Nash's picks for wrestlers who could hold their booze, with The Undertaker, Steve Austin, Scott Hall, and Nash himself earning spots on the mountain. From there, the episode veers into Nash's hilarious gym stories — including a run-in with Nickelback-loving powerlifters — his meticulous approach to planning workouts on the road, and a weather report from a brutally cold Florida winter that cost him tens of thousands in landscaping. Nash and Oliver close out the show by tackling Trump's tariffs on Canada and the controversial delay of the Gordie Howe Bridge, with Nash connecting the dots between billionaire bridge owner Matty Moroun's influence and the political maneuvering behind the scenes. The episode wraps with a heartfelt look at the real-world impact on Canadian snowbirds in the Daytona Beach area, proving once again that Kliq This is equal parts wrestling history, cultural commentary, and unfiltered conversation. Cash App-Download Cash App Today: https://capl.onelink.me/vFut/3v6om02z #CashAppPod. Cash App is a financial services platform, not a bank. Banking services provided by Cash App's bank partner(s). Prepaid debit cards issued by Sutton Bank, Member FDIC. See terms and conditions at https://cash.app/legal/us/en-us/card-agreement. Direct deposit and promotions provided by Cash App, a Block, Inc. brand. Visit http://cash.app/legal/podcast for full disclosures. The Perfect Jean-F*%k your khakis and get The Perfect Jean 15% off with the code KLIQ15 at https://theperfectjean.nyc/KLIQ15 #theperfectjeanpod BlueChew-Get 10% off your first month of BlueChew Gold with code NASH at BlueChew.com BetterWild-Right now, Betterwild is offering our listeners up to 40% off your order at betterwild.com/KLIQ 00:00 Kliq This #190: Wrestler Safety 00:34 AI Movies 02:51 Will this replace entertainment? (KT199) 05:51 Tech Bro Ponzi Schemes (KT199) 10:44 the DOW is over 50,000? 13:18 The Epstein Operation 15:34 BREAK CASH APP 17:52 Wrestler Risks (KT190) 30:56 BREAK PERFECT JEAN 33:43 Where to hide the blade 36:29 Who smoked Cigarettes? 38:10 FOR WORKERS HOLDING THEIR BOOZE (KT190) 39:12 BREAK BLUECHEW 41:11 PRE SHOW 021226 01:06:11 BREAK BETTERWILD 01:08:59 Becoming an "Investment Guy"? 01:14:37 Trump's Tariff on Canada/ the Gordie Howe bridge

It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently. Warren Buffett Check out John Lee Dumas' award winning Podcast Entrepreneurs on Fire on your favorite podcast directory. For world class free courses and resources to help you on your Entrepreneurial journey visit EOFire.com

Meta Description: Kentucky financial advisors discuss Fed Chair nominee Kevin Warsh’s impact on interest rates, market volatility, and retirement portfolios. Dupree insights on portfolio management. When market uncertainty meets changing Federal Reserve leadership, retirees need clear guidance on protecting their portfolios. In this episode of The Financial Hour, Tom Dupree Jr., James Dupree, and Mike Johnson provide direct access to portfolio managers who explain how Kevin Warsh’s nomination as Fed Chair could reshape your retirement strategy through interest rate changes and market positioning. Understanding Kevin Warsh’s Approach to Federal Reserve Policy The nomination of Kevin Warsh to replace Jerome Powell as Fed Chair has created significant market implications for retirement portfolios. As Tom Dupree explains, “Warsh is gonna have to deal with this stuff and the stock market is not gonna be his only problem.” His unconventional stance differs from traditional dovish or hawkish approaches, creating both opportunities and challenges for income-focused investors. Mike Johnson notes that Warsh “has kind of an odd view” because “he’s been critical of the size of the Fed’s balance sheet.” This critical perspective on quantitative easing could fundamentally alter how markets price risk and opportunity, particularly for those managing retirement income portfolios in Kentucky and beyond. Interest Rate Environment and Portfolio Impact The Yield Curve Steepening Effect The current interest rate environment shows a steepening yield curve, where long-term rates rise while short-term rates decline. Mike explains: “You’ve seen the yield curve steep… long-term rates have been going up, while short-term rates are going down.” This creates distinct opportunities across different market segments. Small-cap stocks, which are “more tied to shorter term interest rates,” could benefit from Fed rate cuts on the short end. Meanwhile, high-multiple growth stocks face valuation pressure as long-term rates normalize. Treasury Bonds and Market Positioning The 30-year Treasury currently sits at 4.77%, having fluctuated based on market expectations. As our team discusses, the real question becomes: “Trump wants this guy to get rates lower so that housing will start moving… but rates may end up going higher.” This uncertainty requires active personalized portfolio management rather than passive acceptance of market direction. Market Rotation: From Growth to Value and Income Dividend-Focused Strategy in Volatile Markets Since October, markets have experienced significant rotation from growth expectations into cash-flow-predictable companies. As Mike observes, “You’ve seen a rotation out of growth expectations, high multiple stocks and into things where the cash flow is more predictable.” For retirees seeking consistent income, this shift validates the investment philosophy of focusing on dividend-producing assets. “Regardless of what the price is doing, all else being equal, the dividend, the income stream is still there,” Mike emphasizes. The Speed of Information and Investment Decisions The acceleration of market information flow through technology and AI creates both opportunities and risks. “Every second of every day is the market agreeing with you or disagreeing with you,” Mike notes, highlighting the double-edged nature of instant market feedback. This rapid information environment requires discipline in distinguishing between noise and actionable intelligence. As Tom points out regarding their investment approach: “We started doing in the last several years is buying more things that are just common sense type names… that works better.” Technology Sector Volatility: AI and Memory Chip Stocks Navigating the AI Investment Landscape The artificial intelligence sector has dominated headlines while creating extreme volatility. Recent examples include software stocks experiencing significant drawdowns followed by rapid 16-25% single-day gains. James observes: “An average day with no news, a stock going up 25%… that’s ridiculous.” The team’s approach involves gradual averaging into AI-related positions since September, following detailed sector analysis. “We’ve had calls with them. We wanted to understand the sector better,” Mike explains, demonstrating the value of direct access to portfolio managers who conduct primary research. Memory Chip Stock Opportunities Memory chip manufacturers present compelling valuation opportunities despite recent volatility. The team recently added a position with a forward P/E of just 12, significantly below the S&P 500’s average of approximately 22. Tom notes the stock is “up 300% in the last year” but maintains “earnings to back it.” This disciplined approach to high-growth sectors exemplifies how personalized investment management differs from mass-market strategies that either avoid volatility entirely or chase momentum without fundamental analysis. Learning from Market History: Avoiding Value Traps The Dot-Com Bubble Comparison Drawing parallels to the dot-com bubble provides perspective on current AI valuations. Tom recalls: “People were making fun of Warren Buffett towards the end of the tech bubble… ultimately he had kind of the last laugh.” Not all survivors of market corrections recover equally. Intel, for example, “survived but it took 20 plus years for it to get back to where it was” after the tech bubble burst. This underscores the importance of selectivity even within promising sectors. Management Quality Matters The discussion of Kraft Heinz illustrates how management quality impacts long-term results. Despite being “considered one of the top companies around” with Warren Buffett’s backing, “their management is horrible,” leading to poor strategic decisions and shareholder disappointment. As James concludes: “There’s a reason why CEOs and extremely well, highly talented staff are so highly paid, they’re hard to find.” Key Takeaways for Retirement Investors Kevin Warsh’s Fed leadership could mean higher long-term rates despite lower short-term rates, requiring portfolio adjustments Yield curve steepening creates opportunities in small-cap stocks while pressuring high-multiple growth names Dividend-focused strategies provide income consistency regardless of price volatility Technology sector selectivity matters more than broad exposure, with valuations and earnings fundamentals guiding decisions Management quality and business fundamentals trump thematic investing for long-term success Common sense investments in recognizable companies often outperform obscure “deep value” plays Active portfolio management adapts to rapid market changes while maintaining long-term discipline Frequently Asked Questions How will Kevin Warsh’s Fed leadership affect my retirement portfolio? Warsh’s critical stance on the Fed’s balance sheet and quantitative easing could lead to different interest rate dynamics than previous Fed chairs. Long-term rates may remain elevated even as short-term rates decline, impacting bond valuations and stock multiples. Retirement portfolios should emphasize dividend income and fundamental value rather than relying on Fed accommodation. What is a steepening yield curve and why does it matter? A steepening yield curve occurs when long-term interest rates rise relative to short-term rates. This environment typically benefits small-cap companies that rely on shorter-term financing while pressuring high-valuation growth stocks. For retirement investors, it suggests favoring income-producing assets over growth speculation. Should retirees invest in AI and technology stocks despite volatility? Technology exposure should be sized appropriately for your risk tolerance and income needs. Our approach involves gradual position building in fundamentally sound companies with reasonable valuations, never risking retirement income needs on speculative positions. Direct access to portfolio managers helps navigate these decisions. How do I know if I’m in a value trap versus a true opportunity? Value traps lack the three essential elements: quality management, sustainable earnings, and reasonable business prospects. True opportunities combine all three elements with temporarily depressed valuations. This requires ongoing research and analysis rather than simple valuation metrics. What makes dividend-focused investing effective in volatile markets? Dividend income provides cash flow independent of price fluctuations. As Mike explains, “regardless of what the price is doing… the income stream is still there.” This creates portfolio stability while volatile prices create rebalancing opportunities for patient investors. Take Control of Your Retirement Portfolio Market transitions create both risk and opportunity. The difference between portfolio growth and disappointment often comes down to having personalized investment management with direct access to portfolio managers who actively research positions and adapt to changing conditions. At Dupree Financial Group, our team-based approach means you benefit from comprehensive analysis rather than a single perspective. We focus on income-producing investments, transparent fee structures, and strategies designed specifically for retirees and pre-retirees aged 50 and above. Don’t navigate Fed policy changes and market volatility alone. Call (859) 233-0400 for a complimentary portfolio review or schedule your appointment directly on our website at dupreefinancial.com. Listen to more episodes and insights in our Market Commentary archive. The post How Fed Chair Kevin Warsh Could Impact Your Retirement Portfolio: Interest Rates, Market Volatility, and Investment Strategy appeared first on Dupree Financial.

Am Vorabend des Frankfurter Börsentages, direkt im Handelssaal, sieht Kapitalmarktstratege Heiko Böhmer aufgrund der Entscheidung des Supreme Courts über Trumps Zölle eine "leichte Entwarnung" in den USA. Der DAX reagierte dementsprechend positiv. "Dieser kurzfristige Effekt könnte bereits am Montag wieder drehen." In diesem Szenario hat das Wort des Meisters im langfristigen Investieren noch immer Gewicht. "Warren Buffett beweist, dass Ruhe weiterhilft." Weisheiten, die auch bei Shareholder Value Management Gehör finden. "Wenn wir von einer Aktie überzeugt sind, dann halten wir sie länger." Warren Buffett erwarb seine erste Aktie im zarten Alter von elf Jahren, Heiko Böhmer stieg erst relativ spät ins Börsengeschehen ein: "Meine erste Aktie mit 29 Anfang 2000 war ein Totalverlust. Da lernt man draus." ✍️ Frankfurter Investmentblog - Kapitalmarktupdates und Einzeltitel-Analysen: https://www.shareholdervalue.de/frankfurter-investmentblog ✍️ Frank Fischer Kolumne - Politik, Börse und Fonds-Updates: https://www.shareholdervalue.de/frank-fischer-kolumne

With the Supreme Court striking down the Trump Administration's reciprocal tariffs, and the announcement of new 15% tariffs by The White House, the economic forecast has become another blizzard of uncertainty. Kyla Scanlon, author of “In This Economy?”, helps us decode the sour vibes in this current economy, and the challenges facing investors. Plus, Berkshire Hathaway shareholders are bracing for an earnings report and shareholder letter that won't be delivered by Warren Buffett for the first time in sixty years. No pressure. Learn more about your ad choices. Visit podcastchoices.com/adchoices

สรุปแนวคิด การลงทุนในช่วงสงคราม ของ Warren Buffett | ลงทุนแมนจะเล่าให้ฟัง ปัจจุบันนักลงทุนทั่วโลกต่างกังวลกับความขัดแย้งหลายจุด ทั้งสงครามรัสเซีย-ยูเครน ความตึงเครียดในเอเชียตะวันออก และท่าทีของสหรัฐฯ แล้วถ้าสงครามขยายใหญ่ขึ้น ควรเลือกลงทุนอะไร ? จะซื้อทอง ซื้อหุ้น หรือจะถือเงินสด ? ซึ่งถ้าถามต้นแบบนักลงทุนอย่างคุณ​ Warren Buffett เขาก็คงเลือกจะเลือกลงทุนในหุ้น แล้วเบื้องหลังการลงทุนในหุ้นของ Warren Buffett เป็นอย่างไร ? ลงทุนแมนจะเล่าให้ฟัง

Subscribe to Greg Fitzsimmons: https://bit.ly/subGregFitz Greg and Mike dive into Olympic controversy, debating whether silver medals feel like wins or losses while unpacking media reactions and athlete mindset. The conversation veers into Warren Buffett, AI scandals, royal family drama, Taliban laws, and the absurdity of modern headlines. They tackle ethical hypotheticals involving DUI checkpoints and lying for your child, plus revisit classic films while paying tribute to Robert Duvall and Jesse Jackson. As always, it wraps with listener corrections, the comedy caption contest, and a perfectly timed Onion headline. Sponsor Callouts Quo – The smarter way to run your business communications. Try it free and get 20% off your first six months at: https://quo.com/papers Fabric by Gerber Life – Fast, affordable term life insurance made for busy parents. Apply in minutes at: https://meetfabric.com/papers This show is produced by Gotham Production Studios and part of the Gotham Network. https://www.gothamproductionstudios.com/studios/ Follow Greg Fitzsimmons: Facebook: https://facebook.com/FitzdogRadio Instagram: https://instagram.com/gregfitzsimmons Twitter: https://twitter.com/gregfitzshow Official Website: http://gregfitzsimmons.com Tour Dates: https://bit.ly/GregFitzTour Merch: https://bit.ly/GregFitzMerch “Dear Mrs. Fitzsimmons” Book: https://amzn.to/2Z2bB82 “Life on Stage” Comedy Special: https://bit.ly/GregFitzSpecial Listen to Greg Fitzsimmons: Fitzdog Radio: https://bit.ly/FitzdogRadio Sunday Papers: http://bit.ly/SundayPapersPod Childish: http://childishpod.com Watch more Greg Fitzsimmons: Latest Uploads: https://bit.ly/latestGregFitz Fitzdog Radio: https://bit.ly/radioGregFitz Sunday Papers: https://bit.ly/sundayGregFitz Stand Up Comedy: https://bit.ly/comedyGregFitz Popular Videos: https://bit.ly/popGregFitz About Greg Fitzsimmons: Mixing an incisive wit with scathing sarcasm, Greg Fitzsimmons is an accomplished stand-up, an Emmy Award winning writer, and a host on TV, radio and his own podcasts. Greg is host of the popular “FitzDog Radio” podcast (https://bit.ly/FitzdogRadio), as well as “Sunday Papers” with co-host Mike Gibbons (http://bit.ly/SundayPapersPod) and “Childish” with co-host Alison Rosen (http://childishpod.com). A regular with Conan O'Brien and Jimmy Kimmel, Greg also frequents “The Joe Rogan Experience,” “Lights Out with David Spade,” and has made more than 50 visits to “The Howard Stern Show.” Howard gave Greg his own show on Sirius/XM which lasted more than 10 years. Greg's one-hour standup special, “Life On Stage,” was named a Top 10 Comedy Release by LA Weekly. The special premiered on Comedy Central and is now available on Amazon Prime, as a DVD, or a download (https://bit.ly/GregFitzSpecial). Greg's 2011 book, Dear Mrs. Fitzsimmons (https://amzn.to/2Z2bB82), climbed the best-seller charts and garnered outstanding reviews from NPR and Vanity Fair. Greg appeared in the Netflix series “Santa Clarita Diet,” the Emmy-winning FX series “Louie,” spent five years as a panelist on VH1's “Best Week Ever,” was a reoccurring panelist on “Chelsea Lately,” and starred in two half-hour stand-up specials on Comedy Central. Sunday Papers with Greg Fitzsimmons and Mike Gibbons covers current events, comedy news, sports headlines, celebrity culture, politics, and real-world absurdity with sharp satire and dark humor. In this episode, the hosts discuss Olympic medal debates, AI ethics controversies, Warren Buffett investing strategy, royal family headlines, Florida crime stories, Philadelphia news, and film legends like Robert Duvall.If you like stand-up comics breaking down the news, political satire podcasts, smart comedy conversations, and uncensored takes on trending topics, subscribe and turn on notifications for new weekly episodes. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Smarter Way To Pick Winning Stocks  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my Free Masterclass Checkout the Tykr Platform here. #624: The Smarter Way To Pick Winning Stocks In this video: 00:14 – Sean Tepper – found of TYKR 04:55 – How does this software help? 08:50 – TFTC also helps create successful traders 12:25 – Is social media helpful? 16:20 – Multiple brokers or one? 22:18 – TFTC creating a trading bot program 28:16 – 60,000 stocks analyzed 32:45 – Contact Sean Andrew Mitchem Hello, everybody. It’s Andrew Mitchem here at The Forex Trading Coach. And today I’m really pleased to be joined by Sean Tepper, who’s the founder and the CEO of Tykr. Welcome along. Sean. Sean Tepper Andrew. Good to be here. Andrew Mitchem Awesome to have you. Sean, could you introduce yourselves to everybody and let us know who you are and what you do and what we’re going to talk about? Sean Tepper – found of TYKR Sean Tepper Sure. Yeah. My name is Sean Tepper. I’m the founder of TYKR, as Andrew said. And long story short, TYKRs a platform that helps people buy and sell stocks with confidence prior to that. My background is about 20 years in tech, 15 years investing, and I kind of created TYKR as a solution to a frustration in the markets. Sean Tepper And we could dive into what that frustration is, if you’d like. Yeah. But yeah, I had to create a solution because it was very hard to make decisions when I first got started. And that’s where really TYKR came from. And, but yeah, fast forward to today. We’ve got a little over, 13,000 customers in about 50 countries, including where you’re based. Sean Tepper New Zealand. Andrew Mitchem Oh that’s good. Yeah. So you had 50 countries. That’s a that’s an awesome effort. And, and Sean, I was reading about, you know, you started, on your website says, in, you know, 2011 to 2015, you were trying to figure out what wasn’t there to help you. What did you find back then? Was the biggest frustration that led to TYKR happening? Sean Tepper Yeah. So when I first got started, you know, I think I joined E-Trade. And, you know, there’s so many brokers these days, it’s hard to keep track of. But as soon as I joined, I had no idea what to do next. So I started going on YouTube researching where do you go to invest? Like looking up different investing platforms? Sean Tepper I found a few of our competitors, like Seeking Alpha and Motley Fool, and they do a fine job, but it’s still very difficult to truly know the difference between a strong stock and a weak stock is is very frustrating. And for context, my background is in tech, but to go, layer deeper, it’s actually in process engineering. Sean Tepper Like I’ve worked a lot for GE and Koehler. And the rule is in process engineering, if you have 100 data points, you cannot present that to a customer or an executive. You have to roll it up to ideally a binary decision like yes or no or a traffic light. And I was complaining at that time, like, am I the only one complaining about the fact that there’s no process engineering lens layered over investing like, this is insane. Sean Tepper Like nobody’s making it easy. And that was kind of the green light I was thinking of, like, hey, if I could figure something out here, I think the big solution is a create a process engineering solution in the world of finance and apparently I’m the only one really doing that today, other than the few platforms that say buy or sell. Sean Tepper But I don’t really recommend that. But yeah, that was that was the beginning. And it took about a year to build this Excel sheets. And I give you context here, I found a lot of inspiration from Phil Towne. He wrote a few books on value investing. Do you know Phil Towne? Andrew Mitchem No, I don’t know. No. Okay. Sean Tepper Your your audience may be interested. He wrote a book. One of them is rule one. The other one is payback time. I really provided some. Yeah, yeah. You know, rule one investing, Warren Buffett. We can talk about that. But, yeah, I, I found some of the calculus in his books, put it into Excel, and I ended up coming up with about 50 data points to analyze the stock. Sean Tepper And then on top of that, I created a traffic like rating system where stocks are either on sale, watch or overpriced. That’s green, gray or red. And I used it the next 4 or 5 years on my own, making returns between 15 and 50%, and my returns still fall in that range today. Our customers actually fall in that range as well. Sean Tepper But yeah, I, I wanted to make sure I’m using my own money testing it to make sure it works, not just like four weeks or four months. I went like that over four years. And then it was 2019 was the inflection point when I’m like, I think I’ve got a solution here, but let’s just confirm. Sent the sheet to a few of the retail investors and everybody’s like, I’m not going to use this Excel sheet. Sean Tepper This is insane. You got to create a software. So that right. That was the green light. Let’s go create a SaaS platform. And took a year to build the first version. And the first version was not pretty. But yeah, fast forward to today. That’s where we’re at. But yeah. Andrew Mitchem They Nimrod when you look back on them. Sean Tepper Yeah, right. It was like the, the metaphor I use is it felt like I was building a physical prototype made of like, and duct tape and cardboard. It was not pretty videos. It’s pretty ugly. But you get feedback from your customers and you just keep making it better, and it actually turns into something. How does this software help? Andrew Mitchem So, yeah, awesome. That’s brilliant. So fast forward then to today. Why would someone come and use what you have and I suppose in a practical basis, how does it help them? What are they. What do they input? What do they use to make decisions for them? Sean Tepper Sure. Yeah. So I’ll give you some of the the subjective reasons and then we’ll get into the objective and why that’s actually important to our, our broker partners. But our rating system again process engineering, it doesn’t sound very glamorous, but the concept of making decisions very easy for people, it is very true in most industries. So we we use the process engineering lens. Sean Tepper Plus we take a lot of inspiration from Duolingo for language learning in our opinion. Like what? They’ve got over 600 million users. They’re doing something right. We’re teaching people how to learn a language with these micro learning modules. And I’m like, we need to do the same thing in our platform, but it’s got to be investing focused. So we’ve got these modules peppered around that quickly teaches people how to invest in you put the two together, the rating system, plus the simplified education that helps people. Sean Tepper And it’s not our guarantee, but it’s it’s something we let people know upfront that 90% of customers is actually over 90. But we say 90% of customers that use TYKR are able to go from a beginner to confident an investor in 14 days or less. It’s very quick. Wow. And what does that mean from an objective standpoint? And this is what matters most to brokers, which is most brokers we’re talking to have two big problems. Sean Tepper And number one, very little transaction volumes, like somebody will join on day one and they’ll wait three months or six months or nine months, and then make another trade. And the other issue is the average account size is less than 5000. While with TYKR after five years. Now we’re we track like a lot of data points to see our, investors behavior. Sean Tepper And typically people make 30% more transactions after joining TYKR. And their average account size is about $180,000. So what that tells us is and it tells. Right. So these people are their confidence is skyrocketing and they’re adding more money from their checking account or their savings. So it’s not sitting in a low interest vehicle. So so there you go. Sean Tepper That’s how we’re different. I’ll give you one more way where different in your audience may appreciate this is TYKRs. Calculations are actually open source for personal use. And the SEC really likes that. Like we had an audit done to make sure we fall in that publisher exclusion category. We could talk about that in a minute, but making sure we’re not we’re not giving financial advice, but this firm we’re talking to and we had another we’re actually had two firms. Sean Tepper Take a look. They were both very impressed that we we put those calculations out and I’m like, I’m, I’m actually not concerned anybody’s going to take it because it’s even though it’s relatively simple math, it’s a lot of it. And try to put together in a software what would take you a really long time. So fortunately nobody’s tried to duplicate it. Sean Tepper But the calculations are out there. Andrew Mitchem Yeah, well, for the sake, I was looking on your your purchase, page. Your pricing page. For the sake of $50 a month, you just use it. Wouldn’t you? Rather than trying to reinvent it or. Sean Tepper It exact right at the base price is like, you’re saying 15, 15 bucks a month or 99 a year? You’re right. It’s like, oh, okay. So here’s the here’s the calculations. Yeah. I’m not going to reiterate. That’s where it. Andrew Mitchem Is. I mean in in lifetime working it out will spend $100 a year same. Sean Tepper Same prices Netflix their. Andrew Mitchem Data. Exactly. Yeah a lot more educational. Yes. Sean Tepper Yes. TFTC also helps create successful traders Andrew Mitchem Thank you. So it it sounds like although we’re in, slightly different markets within the overall similar markets now, we have something very similar going on, which is amazing is we’ve never met obviously, before, you know, 20 minutes ago, and that we find that our clients would be very similar to yours. The average forex person’s out there, small account, scared to trade, or they do the opposite and they do silly things and they make us even money and then lose it all, which inevitably happens. Andrew Mitchem And then they blame the break on the market. And that’s where we find our clients are different as well. You know, they have confidence that low risk approach. They they know what they’re doing, what to look for, when to do it. And therefore when they go to a broker brokers out there because, you know, the client’s got a hugely, bigger account and trading more often. Andrew Mitchem So it’s incredible how education and lack of it can affect so many people in this. Seriously. Yeah. It’s crazy. Yeah. Now, Sean, you mentioned, about the no financial advice, you know, situation. And again, coming back, that’s where we’re similar, you know, what’s your take on the no financial advice? Sean Tepper Yeah. So with the SEC, there’s I don’t have the exact, it’s like rule 102-5 or whatever. I’m making that up. But yeah, they’re essentially three rules you have to follow with staying in the publisher exclusion category. And there are companies and there are guys out there, some women as well, that they they get into some some shaky ground or gray areas where they push the envelope and they can get into some some big legal trouble. Sean Tepper So the three rules really go as follows. Number one is all information has to be factual. Like we can’t say like, hey, because I like x, y, z CEO, I think the share price is going to $2,000 a share. That’s crazy. We have to present the data like everything we do is really based off the fundamentals. We don’t cook any books. Sean Tepper We don’t skew the financials. It’s like, hey, here’s the EPS, here’s the revenue, here’s the net income, here’s the debt. Bam, roll it up to our calculations. And there’s your score. Keep it very simple right. Number two is and this is actually pretty easy to follow is we can’t ask our customers their age their risk level when they want to retire and then give them recommendations based on that criteria. Sean Tepper That is described as personalized financial advice. So very easy. Like okay, so don’t ask those personal questions. And number three everything has to be regular. And what does regular mean. It means all information we we put out has to be like every day or every week, which it’s we update our data every day. We can’t do and this is a common problem with a lot of discord and WhatsApp groups. Sean Tepper And so I’ve been told from the SEC, which is pump and dumps, is like, hey, go buy as much of GameStop by Tuesday. And then the very next day, without telling anyone, they’ll go sell a bunch of GameStop or whatever stock they they can come up with. And that is actually a common issue because you can make a lot of money in short order. Sean Tepper So, yeah, no, no irregular posting. It has to be regular posting. So yeah, those are the three rules with the publisher exclusion. And to be honest with you, but actually pretty easy to follow. Is social media helpful? Andrew Mitchem Yeah, yeah. That’s good. Do you find you mentioned on social media type of apps? Do you find that those, causing problems generally for people because they just think they’re going to find something that’s going to solve all their life’s financial problems? Sean Tepper You mean like our customer is going on social media and reading comments. Andrew Mitchem To make sure customers, but just general people out there and in general isn’t there going to find some app and follow something and it’s suddenly going to give them all the magical answers? Sean Tepper No. In general, I think most people are skeptical, which I think is good. They’re not going to like, you know, like, for example, they’re not going to come to tinker right away and be like, oh, this is this is my savior. That’s that’s not the case. We want people to be skeptical. And we always tell people like, don’t like, I’ll talk about Tinker all day, but don’t even take my word for it. Sean Tepper I always say, go to Trustpilot, see what our customers have to say first before you even think about it. And then our model is, it’s a trial 14 day trial. And then we also have a 30 day money back guarantee. So even when your credit card is charged, if you want to refund, we’re not going to fight you on it. Sean Tepper It’s like it’s 15 bucks. That’s right, that’s right. It’s like we’re not going to split hairs on this, but it’s like you want to create a platform that it’s very easy to join is very easy to learn about. You can see what your customers are saying. It’s easy to test drive. Those are kind of the boxes I like to check when I join a platform because I’m using other software to build TYKR, whether it’s a marketing software or analytics or email marketing or whatever, right. Sean Tepper I want those things. So I’m like, I’m going to do the same thing with my own platform. But coming back to the skepticism, I think it’s good. It’s good to have a healthy amount, and it’s good for people to not only, like join TYKR, but go have like join our competitors, see what they have to say. And sometimes you’ll get things to line up like let’s say it’s a stock you really like and you’ve got, you know, TYKR, Motley Fool and Seeking Alpha are all like, hey, this is this is a strong stock, not a buy stock, but its financials are strong. Sean Tepper That creates layers of confidence is how we phrase it. Yeah. Creating those layers of confidence gives people more confidence to move forward. Andrew Mitchem Yeah yeah that’s good. And I noticed also on your on your offer there that you talk about cryptos as well Matt. Obviously it’s the, the big thing that people want to talk about and we’ll see more recently we’ve seen some big drops as well. Yeah. How, how do people finding using your software or on cryptos. Andrew Mitchem Because it’s, it’s like one of the markets that we kind of cross over on. Sean Tepper Yeah. So with crypto we weren’t originally going to add it to the platform, but a few people were like, hey, can you add crypto from a tracking perspective? Now for context, we have three assets in TYKR. We have stocks, ETFs and crypto ETFs. It’s easy to analyze because it’s really just a bundle of stocks. So we analyze each individual stock. Sean Tepper We roll them all up. If it’s let’s say 500 stocks within an ETF. You can create you can calculate what is the average score within come to that on sale watch over priced. But when it comes to crypto as you know there’s no income statement cash flow statement A balance sheet is not a business, it’s just a digital asset. Sean Tepper But again, we had customers that were like, hey, you got a lot of good tracking tools, like you can set alerts on my dates and prices and really anything you want within TYKR. And so they’re saying like, can you add crypto within so we can keep track of all of our favorite assets in one clean location. And my response to that was, oh yeah, no problem. Sean Tepper We’ll add crypto to this tool. But there’s not a lot of analysis you can do there because again, it’s not a business. Multiple brokers or one? Andrew Mitchem Yeah, yeah. Fair enough. And also I noticed that you said about the broker connection. So one of your pricing models, that’s one broker three and five. Correct. What would be the reasons around someone needing, say, three brokers or five brokers as opposed to one. Sean Tepper Yeah. So the reason is typically your employer is going to issue you A41 like here in the states, of course, we get A41KI don’t know, in New Zealand you call it a pension like they do in, Europe. Andrew Mitchem Yeah. Kiwisavers called but yeah it’s that has is our name. Yeah. Sean Tepper Okay. Exactly. So you’re going to have that is going to be one retirement vehicle. And that’s typically set up with like here in the States. The two big ones are typically fidelity and Empower. There’s also Schwab. But then you’re probably going to want to do some trading on your own. So then here in the States some of the popular choices are Robinhood. Sean Tepper You’ve got E-Trade, you know. So there’s your second one. And then sometimes you’re going to have like an inherited account from a family member, you know, that could be on a different account. And if you don’t roll it over to your current broker, well, guess what? You’ve got a third broker sitting in place. But I get this. I’ve talked to people that have they’ve had more than five different brokers on my response. Sean Tepper So that is why. Yeah. So. Right. It’s it’s it seems unorganized. But we created the three tiers the premium premium plus an advanced premium. You get one broker premium Plus you get three in advance. You get five. We usually like 99.9% of the time. We don’t see people with more than five brokers. But like for example, between my wife and I, we have like we have three. Sean Tepper So yeah. Andrew Mitchem Okay. So with this allows someone to make their analysis and then connect directly through to that broker via your software. Is that how it works. Sean Tepper Yeah. Yeah. So yeah when when you join your broker and we’re really good complement to a broker will never replace it. We don’t want to be a broker dealer. That’s a legal name for their business model because we don’t hold any assets. We don’t hold people’s money. We’re just analytics. So yeah, when people join, you can sync up with your broker. Sean Tepper And what that does is it automatically updates your portfolio in TYKR every day. And it’s a much cleaner interface than most brokers out there. I, I’m never going to talk down about brokers, but it’s like their job is to protect people’s money. But when it comes to analytics dashboards or giving, like education or analytics, it’s that’s not their specialty, nor will it really ever be. Sean Tepper So we fill that gap, we complement and we make it easy to see because some people are like, I don’t I don’t actually know how much money I have because the dashboards in my broker’s so hard to use them, like just sync up your account TYKR and it’s going to kind of summarize it for you. Yeah, yeah. Andrew Mitchem That’s interesting. That makes a lot of sense. Makes life easy for people. And also I see that you have a mobile app. So can someone get the exact same information on the app. But they can all the desktop. Sean Tepper It’s pretty much the same experience. We try to release our features, if not the same day within the next week or two. Like if we need to deploy something to web or web app, we try to do the same thing to the mobile, that allows people to write. They can kind of analyze stocks and the gold or standing in line somewhere at Starbucks, whatever. Sean Tepper The mobile app, I will say this has an additional feature, which is the Duolingo inspired learning modules that kind of like swipe right, swipe left type feel. We don’t have that in the web app today, but we’ve had a few people say, hey, can you also add that to web? Well, that’ll come soon. But yeah, it’s pretty much the same experience. Andrew Mitchem And what’s the AI investing helper that’s not like yeah, humming live. Sean Tepper Oh, that could be going live. Well, recording this video is, February 9th. That could go live on the 11th. Okay. So that’s a feature where you can, like, interact with where you’re going to be the first to hear about it here. So it’s it’s an AI tool where you can ask questions like how do I get started? Sean Tepper Or what should I do with my first thousand dollars? Or, what when is the best time to buy or best to sell? You can interact with AI and it’s actually connected with TYKRs, data set, but also the the globe and it’s put a lot of rigor, rigor into place to make sure it’s not giving you financial advice, but it’s really leaning into giving you the data and TYKR. Sean Tepper So it’s for example, if you were to ask it, hey, can you tell me how to value a stock? It’s going to first go to TYKRs data set. And with the education and give you that information. And then some general information. You know that makes it sound nicer. And then kind of spit it out. So yeah, eventually we’ll release in multiple phases. Sean Tepper So the first phase we call the helper, the second phase is the portfolio builder in a will build hypothetical like for example, build me a portfolio of ten strong tech stocks or buy food stocks or car stocks, something like that. Yeah. And of course it’ll say this is not financial advice. This is a hypothetical portfolio. But yes. And then the third phase will be an analyzer. Sean Tepper So analyze my current portfolio. Like what changes would you recommend. And that that’s going to be really, really cool. So with I will say this and then I’ll stop talking. It’s a powerful tool because it can analyze large data sets in a short amount of time. But as we say at TYKR. And this is why when I become self-aware like Skynet, I’m going to be the first one to be targeted. Sean Tepper Right? It’s, it’s smart, but it’s not that smart. So you have to put a lot of rigor in a place, a lot of guardrails, because it can, as you know, hallucinate. Yeah. So we are bouncing AI up against logic and mathematics to make sure it does not say something stupid to our customers. TFTC creating a trading bot program Andrew Mitchem That’s interesting. We’re in the middle of all we’re saying in the middle. We’ve been testing this live for over a year of getting AI to create trading bots for us, and what it’s doing is it’s spitting at a heap of bots and going through, sort of live trading on, on, you know, that are not real money. We’re trading on the money. Andrew Mitchem And then each week, we’re using the human aspect, the common sense and the knowledge that we look at as technical traders to pick which bots we’re going to be running live for subscribers for the upcoming week. And, and we’re finding that that combination of using the AI for that speed and, you know, doing the, the hard work. Andrew Mitchem Yeah. And giving us some information. But like you said, the guardrail becomes the human input in the common sense of what we’re seeing as technically on a chart. There’s no point in, let’s say, say Bitcoin over the last few weeks has been, you know, crashing. So nicely. There’s no point in us selecting bullish, crypto bots for the upcoming week when there’s technical traders. Andrew Mitchem We’re looking at it dropping. So I find that adding a bit of human common sense and knowledge, along with the AI at this stage is a really nice combination. Sean Tepper You got to do it right, and you probably seen the, the bad choices some people have made. If you let I make all the decisions, you can pull yourself into a, really bad situation. Especially. I like what you’re describing with your bots or those bots actually executing trades. Andrew Mitchem They they can, but we are more trying to set it up so the individual gets the alert and still needs to manually go yes or no as well. Good call. Because I don’t want to get into that situation where it’s completely, you know, automated, although a lot of people are want it all automated. My job as someone who teaches people is you still have to have that knowledge first to understand how to run the bots and to make a commonsense decision. Andrew Mitchem Is it making a good call or not? Sean Tepper Yeah, I’m good answer there, because the other hour I was talking to one company that was have was looking to have AI execute trades automatically. I’m like, whoa, what if they just run with the line and it’s like, go right? Like if rapid fire trades for an hour or two, it’s like, yeah, put some people in a bad situation. Sean Tepper So yeah. Andrew Mitchem Anyway, yeah, we’ll avoid that. We’re both avoid that. Yep. Yeah, exactly. I use it for the hard work and still use the brain. And that’s the thing, isn’t it? You know, what you created and what we’ve created. We’re about educating people, empowering people to use their common sense. Because I still think, after all, it comes down to it, there’s nothing better as a human, as an individual to have that, that how and that it’s almost like that feelgood factor that I know I can analyze these markets and make sound decisions and do well, you know, that’s you, you. Sean Tepper You, yeah. You just hit on the, the number one thing our customers care about like in and this will give you and your audience a little moment for me when I first created TYKR, especially the Excel sheet, I was all about getting better returns. I’m like, well, if Warren and Charlie can do it, I can do it. Sean Tepper Well, when I went live, that was my focus. But then after talking to a few customers, I’m like, they don’t agree with that. There’s actually something more important. And fast forward, I probably talked to a few thousand customers by this point over five years, and the number one thing they care about is confidence. Now, having confidence to literally do it on your own. Sean Tepper That is the home run. Feeling that supersedes, you know, getting good returns any day. Like people sleep better at night. Just knowing that, Shawn, I, I can do this on my own. That is what I’m looking for. I’m like home. So we even though the returns in tech are good, like, we actually lean into confidence. Like how do we give people more confidence is actually the bigger priority now. Andrew Mitchem Yeah, yeah, I, I fully get it. You know, we’ve been operating since 2009. Come on, Ryan, the Ryan run around the world in 111 countries and the same thing we we asked people, we, of course, you know, want to know why people join. And then we follow up after three months, six months, year, two years and keep asking people it’s the community and that knowledge of knowing what you’re doing for yourself, to have that control with low risk and, you know, really good outcomes. Andrew Mitchem But up here and then I say to people, trade any trading into, investments is emotion, isn’t it? Your head in your heart. You have to control those two. And what we’re doing is providing platforms or education platforms to allow people to fulfill that, that dream successfully and safely. Sean Tepper Yep, yep. Andrew Mitchem So it’s huge. Yeah. We can have all the AI and all the risks, all the all these flash gadgets, but ultimately it still comes back to that human wanting to have confidence in what they’re doing with their own money. Sean Tepper That’s it. Yeah. Andrew Mitchem And no. And also not just handing it over to someone as well. I think it’s important. Sean Tepper They add it and it’s actually you’re kind of alluding to this. It’s in people’s best interest to let’s say AI does 90% of the work. You want to be the person you want the human being finishing that process? Yeah. Because they, they ultimately it’s it’s better for them from an educational standpoint and from an, confidence standpoint, like they should know what was done. Sean Tepper But now, I control things. I get to execute the trade. Yes. You know, that’s right, that you want people to have that power at the end of the day. 60,000 stocks analyzed Andrew Mitchem Absolutely. And the, your software obviously does a lot of analysis just to give myself and viewers and listeners a ballpark figure. What kind of number of stocks is it kind of looking at and analyzing? Sean Tepper Sure. Okay. Yeah. So we’ve got about 60,000 stocks in TYKR around the world’s. We are up. Yeah. We’re upgrading. They’ll get this in the next month or two. We’re switching our data provider. So we’re going to have in the states real time pricing. You will have 15 minute delay. But then we’re going to have actually I can’t guarantee all stocks around the world, but most that’ll bring us closer to about 75,000 stocks around the world. Sean Tepper And then we’ll also have most ETFs around the world, which I think is closer to about 10,000. I could following in that Bow Wow. Yeah. No wonder. Andrew Mitchem They need analysis software that. Sean Tepper Yeah, right, right. It’s what we do. We run into circumstances when people, you know, they’ll join from a smaller country and they’ll be like, hey, you don’t have any stocks from our country. Winner may arriving. So it’s a lot of those requests and it’s like we knew we had to get to this point eventually. Yeah. But yeah. But then you just give transparency. Sean Tepper We’re looking at Finn Hub is, the data provider that will help us get, the more stocks and ETFs around the world. Andrew Mitchem Wow. So when you see your clients in 50 countries, if, for example, someone was here in New Zealand and they don’t want to be, and 2:00 in the morning to trade the US markets, they could be trading like the Australasian markets. Yeah. So your software. Sean Tepper Absolutely. Yep. Andrew Mitchem Oh, fantastic. That’s really good. Yeah. That, that’s blowing my way. That number. One thing as a currency trader, there’s like about eight main currencies. And so that makes, hence why there’s nothing like this for the forex market. I’m guessing because we can look at charts and read a bit of news and kind of make your analysis voice your, the information. Andrew Mitchem Someone out there with that. Your software is almost got an impossible task. Sean Tepper Yeah. We I was just checking here in tick or how many stocks from New Zealand. We’ve got a little over 187. So, do you know I like the I assume it’s the new New Zealand Stock Exchange. Andrew Mitchem Yes. In Wellington. Nice. Sean Tepper Got it. Do you know how many stocks they have? Andrew Mitchem No. I’m not, I’m purely forex. I honestly don’t know. Sean Tepper Okay. No no worries. But we’ll hopefully fin Hub will be able to get us most from from your exchange. Yeah. But that’s just a good example of like absolutely. You know we again we get a lot of people from random countries like, hey, can you add more stocks from our country? It’s like, yeah, absolutely. We’re we’re on it. Andrew Mitchem Yeah. Well, and also it’s purely that time of day thing, isn’t it. Because the you know, I suppose I get used to forex which is 24 hours a day. It doesn’t matter where you live in your world, you can trade it in cryptos obviously seven days a week now as well. But when you’re talking US stocks, they are, you know, for someone on my side of the world, some quite awkward trading hours. Andrew Mitchem So what you’re providing now would allow me to trade some of the the Japanese stocks, I’m guessing. Oh, and then the Australian ones using the ones now that you mentioned. So you really do open up your product to being truly a global, tool for people. Sean Tepper Exactly. Yeah. Yeah. Andrew Mitchem That’s awesome. Sean, anything else you want to add about what we’ve not covered, about what you can help people with? Sean Tepper Yeah. Knowing that you’re more in the trading world and we’re more investing, I have to say this one detail, which is we do have about 10% of our customers are traders, give or take, and they’ll use TYKR as their starting points. You’re like, hey, let’s see. You’ve got like 100 ideas out there. Well, they’ll use TYKR to narrow it down from 100 down to ten. Sean Tepper Yeah. So that’s one main use case. It’s kind of like the short AI, as it’s been described to me. Is the short list creator TYKRs, the short list for like for traders. So so yeah, I want to add that tidbit as some people are like, well I’m not really into best thing. It’s like, you don’t have to be. Sean Tepper You can just use the tool to, narrow down your search. So I’ve selected one use case. Andrew Mitchem Yeah, that makes a lot of sense. That’s kind of how I was thinking about potentially using it as well. It’s like, makes a lot of sense to do all that, that work and get it down to something more manageable. Right? Yeah. Contact Sean Andrew Mitchem And what’s the best way that someone can contact you to find out more, about what you offer? Andrew Mitchem Sure. Well, how would. Sean Tepper They add, two ways to get in touch with, TYKR or myself? You can just go to tykr.com. That’s TYKR, tykr.com. And then, I’m really active on LinkedIn. Sean Tepper, Sean is spelled the Sean Connery way. Andrew Mitchem Yes. This with the voice. Sean Tepper Yeah. I wish I had strong Scottish voice. Yes. Andrew Mitchem Awesome. Hey, Sean, we’ll put links, of course, up here as well. And we will be sharing this in around the website and social media as well, so people can contact you finding a link here as well. It’s been awesome talking to you. I’ve learned a lot about the market. I don’t know a huge amount, and it’s fascinating to hear what you do and how, you know, you going to make it from when you mentioned 60, it still blew me away. Andrew Mitchem That number, from a ridiculous number of, stocks to help to analyze something in a, in a more simplified way. So, awesome to speak to you. Thank you. Your product looks amazing. I will be trying it. And, Yeah, look forward to it as well. Sean Tepper Thanks, Andrew. This is great. Andrew Mitchem Awesome. Thanks, Sean. Bye for now. Episode Title: #624: The Smarter Way To Pick Winning Stocks Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my Free Masterclass Checkout the Tykr Platform here.

Are you a spender or a saver? A credit card maximizer or a debit-only minimalist? In this episode, we unpack the everyday decisions that quietly shape your financial life — from Warren Buffett's investing advice and exchange-traded funds to subscription overload, budgeting habits, and whether new cars are really a trap.We get real about the hidden costs of homeownership, surprise expenses (hello, childcare and dryer fires), Costco vs. Sam's Club loyalty, coupon codes, name brands vs. generics, and even how much the outfit you're wearing right now actually cost.Plus: Do dogs cost as much as kids? Should you obsess over your credit score? What would you never spend money on? And ultimately — can money actually buy happiness?It's practical, honest, and with one of our favorite guest David Leake. Just the way money conversations should be.

Where is Steve W seeing cockroaches? Find out on this week's PlayingFTSE Show!Steve D's portfolio has been running away with it, once again. At the other end, there's a tie for last place in this week's leaderboard – but between who or what?There are a lot of people who claim to being the next Warren Buffett, but Mohnish Pabrai has a closer connection than most. And he's got a new ETF that launched last week. It's not a closet index, but is it worth paying for? Steve D doesn't think so and Steve W thinks there's a big difference between the Wagons ETF and Berkshire Hathaway…The stock market didn't like Klarna's results and the share price is down in a big way. But are investors making a mistake and presenting an unusually good opportunity here?A key theme of the show in recent months has been paying attention to how companies recognise revenues. And Steve D is wondering whether this might be one more for the list.Molina Healthcare is a stock that's been attracting the attention of some high-profile value investors recently. As well as those guys, Steve W has been taking an interest.The company has been hammered through a difficult Medicaid situation, but it has a structural advantage over competitors. So at unusual lows, is it time to consider buying?Only on this week's PlayingFTSE Podcast!► Get a free fractional share!This show is sponsored by Trading 212! To get free fractional shares worth up to 100 EUR / GBP, you can open an account with Trading 212 through this link https://www.trading212.com/Jdsfj/FTSE. Terms apply.When investing, your capital is at risk and you may get back less than invested.Past performance doesn't guarantee future results.► Get 15% OFF Fiscal.ai:Huge thanks to our sponsor, Fiscal.ai, the best investing toolkit we've discovered! Get 15% off your subscription with code below and unlock powerful tools to analyze stocks, discover hidden gems, and build income streams. Check them out at Fiscal.ai!https://fiscal.ai/?via=steve► Follow Us On Substack:Sign up for our Substack and get light-hearted, info-packed discussions on everything from market trends and investing psychology to deep dives into different asset classes. We'll analyse what makes the best investors tick and share insights that challenge your thinking while keeping things engaging.You'll also find our new 10-week investing and research course available right now. It's completely free, with no sign-up required, no payment, and none of the usual BS. Don't miss out. Join us today and get stuck in.https://playingftse.substack.com/► Support the show:Appreciate the show and want to offer your support? You could always buy us a coffee at: https://ko-fi.com/playingftse(All proceeds reinvested into the show and not to coffee!)► Timestamps:0:00 INTRO & OUR WEEKS7:19 WAGONS FUND23:28 KLARNA47:14 MOLINA HEALTHCARE► Show Notes:What's been going on in the financial world and why should anyone care? Find out as we dive into the latest news and try to figure out what any of it means. We talk about stocks, markets, politics, and loads of other things in a way that's accessible, light-hearted and (we hope) entertaining. For the people who know nothing, by the people who know even less. Enjoy► Wanna get in contact?Got a question for us? Drop it in the comments below or reach out to us on Instagram: https://www.instagram.com/playing_ftse/► Enquiries: Please email - playingftsepodcast@gmail(dot)com► Disclaimer: This information is for entertainment purposes only and does not constitute financial advice. Always consult with a qualified financial professional before making any investment decisions.

In this episode of the 100 Year Thinkers, Matt Zeigler and Bogumil Baranowski continue their conversation with Robert Hagstrom and Chris Mayer, diving deeper into general semantics and what it means for investors navigating AI enthusiasm, market volatility, benchmark obsession, and the gamification of markets. From Warren Buffett's cathedral versus casino metaphor to the risks hiding in so-called “safe” consumer staples stocks, this discussion explores how language, expectations, and mistaken certainty shape investment decisions. If you want to think more clearly about markets, technology, valuation, and your own reactions as an investor, this episode offers a powerful mental framework.Topics CoveredWhat general semantics is and how language influences how investors thinkIFD disease idealism frustration demoralization and how unrealistic expectations impact marketsAI hype, capital spending, and the prisoner's dilemma facing major tech companiesWarren Buffett's cathedral versus casino metaphor and what it means for investors todayWhy beating the S and P 500 may not be the right benchmark for successThe gamification of markets, retail trading growth, and the shift from long-term investing to speculationTerminal value risk in software stocks amid AI disruptionWhy low volatility “warm fuzzy” stocks like consumer staples may be more dangerous than they appearExpectations investing, confidence versus overconfidence, and avoiding mistaken certaintyThe map is not the territory and how to avoid confusing models with realityEverything is connected to everything else markets as biological systems rather than mechanical systemsDelayed gratification, compounding, and why wealth is built later in the investment journeyTimestamps00:00 Cathedral versus casino capitalism and the market metaphor02:00 What is general semantics and why it matters for investors03:00 IFD disease unrealistic expectations and AI hype06:40 Outperformance, Bill Miller, and unrealistic return expectations09:00 Are market benchmarks the right way to measure success12:00 What if stock market indexes did not exist14:00 Public versus private markets and myopic loss aversion18:40 Compounding, volatility, and delayed gratification21:00 AI valuations, strategic capital spending, and economic returns24:20 The AI adoption cycle frustration and demoralization30:40 The man in overalls story and delaying reactions33:30 Warren Buffett cathedral versus casino metaphor revisited35:00 Gamification of markets passive flows and species shift in investing39:00 When to sit still versus when to act in volatile markets43:00 Mistaken certainty and the biggest risks in today's market45:00 The hidden risk in consumer staples and low volatility stocks47:20 Expectations investing confidence versus overconfidence49:40 Everything is connected markets as living systems53:00 What success really means beyond beating an index56:20 The map is not the territory final lessons for investors

Warren Buffett's final quarter as CEO of Berkshire Hathaway is in the books — and the 13F tells an interesting story. In this video, we walk through every buy and sell Berkshire made in Q4 2025, including new positions, big trims, and what Todd Combs leaving for JPMorgan might have to do with the massive Amazon selloff. We also cover what a 13F actually shows you — and what it doesn't — so you don't make the mistake of copying trades without understanding the full picture.Data pulled from Dataroma.com, where you can track 13F filings for Berkshire Hathaway, Bill Ackman, and dozens of other major fund managers for free. [⁠⁠⁠Link to YouTube Video⁠⁠⁠]⁠⁠⁠⁠⁠⁠⁠⁠⁠Dapper Dividends Recommendation Tracker Spreadsheet⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Check out my current portfolio on

Spend an hour this weekend with one of the kindest and most generous people — an accomplished investor and a truly remarkable mind (Original Release: Jan 30, 2023).Guy Spier is a good friend, an inspiration, and one of Talking Billions' earliest guests. He is the Zurich-based founder of the Aquamarine Fund, author of The Education of a Value Investor, and host of VALUEx — a wonderful gathering of like-minded investors. He is also the man who famously paid $650,000 alongside Mohnish Pabrai to have a charity lunch with Warren Buffett.5 Biggest Ideas from the Episode1. It's not the fastest skier who wins — it's the fastest who doesn't get injured. Drawing from Luca Dellanna's work on ergodicity, Guy makes a powerful case for survival over speed. If you're eliminated early, you miss all the remaining races. As he put it: "If you want to be really smart about it, you're going to race in a way that will ensure that you get down without injury."2. Losing it all is the ultimate failure — and it's always avoidable. If you're in the business of preserving wealth, losing the capital base means being forced back to selling your time. Sophisticated people repeatedly make this mistake — from LTCM to FTX — and it never had to happen.3. Your social environment shapes your investing more than your physical one. Who you spend time with changes how you think and behave — and investing is no exception. Attending Berkshire meetings for 25 years wasn't just education; it was deliberately engineering a network that reinforces long-term compounding thinking.4. Investing is like planting vineyards — not all vintages will be fantastic, but you'll always have wine to drink. Guy's philosophy for navigating inevitable down years: plant the best vines you can, then let the seasons do what seasons do. His response to complaining investors: "What am I supposed to do? Jump up and down and yell at the sun?"5. Success is not a number — it's who shows up at your funeral. Guy stopped tracking his net worth spreadsheet years ago and never looked back. His definition of success: dying with many people who are genuinely glad he existed — not optimizing himself into a narrower version of Warren Buffett.Podcast Program – Disclosure StatementBlue Infinitas Capital, LLC is a registered investment adviser and the opinions expressed by the Firm's employees and podcast guests on this show are their own and do not reflect the opinions of Blue Infinitas Capital, LLC. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice.Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed.

Discover how to spot undervalued stocks like Shinhan Financial Group NYSE:SHG using the proven QAV (Quality at Value) methodology from Tony Kynaston – a systematic, checklist-driven approach inspired by Warren Buffett and Charlie Munger to beat the market. In this Weekend Watchlist episode, We unpack Shinhan Financial Group (SHG), a deep‑value Korean bank with a messy story and a cheap valuation.

Discover how to spot undervalued stocks like Shinhan Financial Group NYSE:SHG using the proven QAV (Quality at Value) methodology from Tony Kynaston – a systematic, checklist-driven approach inspired by Warren Buffett and Charlie Munger to beat the market. In this Weekend Watchlist episode, We unpack Shinhan Financial Group (SHG), a deep‑value Korean bank with a messy story and a cheap valuation.

The wrong business partner will cost you everything. Here's how to know who to trust. Most businesses fail not because of a bad idea, bad product, or bad timing. They fail because of bad PARTNERS. People who don't share your values. People who steal. People who see you as a paycheck instead of a partner. People who make "doggy bags" to take home instead of building the table with you. In this raw conversation, Eric Thomas, CJ Quinney, Karl Phillips, and Jemal King break down the brutal truth about business partnerships - what destroys them, - what makes them work, - Why starting small is the only path to building big, - And real proof this approach works (six-figure real estate checks, zero student debt, generational wealth from $50/paycheck). This is Part 2 of our two-part series. If you missed Part 1 (Episode 528), go watch the wife haircut debate now! CHAPTERS: Chapters 00:00:00 Opening: Be Faithful Over the Small Stuff - That's How God Knows You're Serious 00:01:20 Stop Looking for Permission - The CJ Partnership Model 00:02:28 Why Most People Want Savages But Won't Become One 00:12:00 The 115 Years of Committed Relationships at This Table 00:13:38 The Book Reveal: What We're Uniquely Qualified to Talk About 00:14:56 Building Your Table With Family vs Strangers - The Dinner Table Analogy 00:39:41 The Contract Story: When CJ Put ET First Without Being Asked 00:17:46 Leverage: The Tire Iron Principle and Why You Need Different Strengths 00:00:27 Stop Focusing on the Big Stuff - The Cam Newton Lesson 00:22:41 Warren Buffett at 94: Why Most Wealth Comes After 40 00:53:52 Yanni Graduates Debt-Free: How a 529 Plan Paid for Michigan State 00:35:53 The pizza story: Why Your People Won't Steal From You 00:47:29 The 1% Conference Announcement: April 16-17 in Chicago

Quand on pense aux origines de la population américaine, on évoque souvent l'Angleterre, l'Irlande ou l'Allemagne. Pourtant, une partie surprenante des Américains partage un ancêtre français commun, arrivé très tôt sur le sol nord-américain : Marin Duval.Marin Duval est né en France au début du XVIIᵉ siècle. Il émigre vers 1639 en Amérique du Nord, à une époque où les colonies européennes ne comptent encore que quelques milliers d'habitants. Il s'installe dans la colonie du Maryland, alors en plein développement. Ce détail est crucial : arriver aussi tôt dans l'histoire coloniale multiplie mécaniquement les chances de laisser une descendance massive.Contrairement à beaucoup de colons, Marin Duval fonde une famille nombreuse et ses enfants survivent, se marient et s'installent à leur tour. À une époque où la mobilité sociale et géographique est forte, ses descendants se dispersent rapidement à travers les colonies britanniques, puis à travers les États-Unis naissants. Chaque génération double, puis quadruple le nombre d'héritiers.C'est ce phénomène que les généticiens et historiens appellent un effet fondateur. Lorsqu'un individu se trouve très tôt dans une population en forte expansion démographique, son arbre généalogique peut littéralement exploser. Après dix à douze générations, cela représente des centaines de milliers, voire des millions de descendants potentiels.Le cas de Marin Duval est d'autant plus frappant que sa lignée est exceptionnellement bien documentée. Les archives coloniales américaines sont riches, et certaines familles ont tenu des généalogies très précises. Résultat : on peut établir avec certitude que Marin Duval est l'ancêtre commun de personnalités aussi différentes que le président Harry S. Truman, le président Barack Obama, l'ancien vice-président Dick Cheney, le milliardaire Warren Buffett ou encore l'acteur Robert Duvall.Cela ne signifie pas que ces personnalités sont proches parentes. Leur lien avec Marin Duval remonte à plus de trois siècles, ce qui correspond à une parenté extrêmement lointaine. Mais statistiquement, dans une population issue de quelques dizaines de milliers de colons initiaux, ce type de convergence généalogique est inévitable.Cette histoire est aujourd'hui entretenue par la Duvall Society, une association consacrée à la préservation de l'héritage de Marin Duval et à l'étude de sa descendance.En résumé, si tant d'Américains partagent un ancêtre français commun, ce n'est pas un mystère génétique, mais une conséquence mathématique de l'Histoire : arriver tôt, avoir des enfants, et laisser le temps faire le reste. Dans une nation jeune et construite par vagues successives, certains noms ont eu plusieurs siècles d'avance. Hébergé par Acast. Visitez acast.com/privacy pour plus d'informations.

The Vol Death Match Hangover: Micron Rallies While Zero-Day Sellers Feast One day after the legendary Vol Death Match 2.0, the options tape is heating up with massive moves in semi-conductors and a heavy dose of 0DTE (Zero Days to Expiration) risk harvesting. In this episode of the Hot Options Report, Mark Longo breaks down the top 10 most active names dominating the tape, including a wild 33% year-to-date run for Micron (MU) and the "artist formerly known as Facebook" showing resilience despite regulatory headlines. On Today's Countdown: The Semi Surge: Why Micron is the talk of the tape after a $21 leap and what it means for those $420 calls. Big Tech Breakdown: Analyzing the flow in Meta, Apple (AAPL), and Amazon (AMZN) as Warren Buffett trims his stakes. The 0DTE Game: Are traders getting bold? We look at the massive selling of near-dated premium in Microsoft (MSFT), Tesla (TSLA), and Nvidia (NVDA). Dark Side Activity: Why the $195 Puts were the "Hot Option" in AMD today. Dividend Distortions: A deep dive into the massive volume spike in DHT Holdings. Check out the Data: Run your own reports and kick the tires on the best data in the biz at https://www. HotOptionsReport.com. Go Pro: Want to see the Vol Death Match 2.0 replay? Visit https://www. TheOptionsInsider.com/Pro to join the community.

In der heutigen Folge sprechen die Finanzjournalisten Lea Oetjen und Nando Sommerfeldt über einen möglichen Machtwechsel bei der EZB, starke Zahlen eines britischen Rüstungsriesen und ein letztes Ausrufezeichen von Warren Buffett. Außerdem geht es um Rheinmetall, Renk, Hensoldt, BAE Systems, Infineon, Analog Devices, Bayer, Berkshire Hathaway, New York Times, Carvana, Doordash, Ebay, Garmin, RTL Group, Evonik, Volkswagen, Porsche, Vonovia, BMW, Mercedes, Allianz, Deutsche Telekom, Siemens und Tesla. Wir freuen uns an Feedback über aaa@welt.de. Noch mehr "Alles auf Aktien" findet Ihr bei WELTplus und Apple Podcasts – inklusive aller Artikel der Hosts und AAA-Newsletter. Hier bei WELT: https://www.welt.de/podcasts/alles-auf-aktien/plus247399208/Boersen-Podcast-AAA-Bonus-Folgen-Jede-Woche-noch-mehr-Antworten-auf-Eure-Boersen-Fragen.html. Der Börsen-Podcast Disclaimer: Die im Podcast besprochenen Aktien und Fonds stellen keine spezifischen Kauf- oder Anlage-Empfehlungen dar. Die Moderatoren und der Verlag haften nicht für etwaige Verluste, die aufgrund der Umsetzung der Gedanken oder Ideen entstehen. Hörtipps: Für alle, die noch mehr wissen wollen: Holger Zschäpitz können Sie jede Woche im Finanz- und Wirtschaftspodcast "Deffner&Zschäpitz" hören. +++ Werbung +++ Du möchtest mehr über unsere Werbepartner erfahren? Hier findest du alle Infos & Rabatte! https://linktr.ee/alles_auf_aktien Impressum: https://www.welt.de/services/article7893735/Impressum.html Datenschutz: https://www.welt.de/services/article157550705/Datenschutzerklaerung-WELT-DIGITAL.html

En este episodio de El Brieff, analizamos el giro pragmático de la administración Sheinbaum hacia el fracking para buscar soberanía energética frente a la dependencia de Texas. Exploramos por qué el mercado espera un "tsunami de capital" tras la revisión del T-MEC y las implicaciones del cierre de ciclo de Warren Buffett en Berkshire Hathaway. Además, desmenuzamos la multa a Grupo Carso, los ingresos récord de Aeroméxico y el debut de Park Life en la BMV.No te pierdas a Midnight Generation en Zapopan este 21 de febrero en el Teatro Estudio Cavaret. Vive una noche de funk y sintetizadores con la banda que está redefiniendo el pop mexicano. Boletos disponibles en Boletomóvil.Recibe gratis nuestro newsletter con las noticias más importantes del día.Si te interesa una mención en El Brieff, escríbenos a arturo@strtgy.ai Hosted on Acast. See acast.com/privacy for more information.

One legend exits, a streaming war reignites, and AI redraws the market map - where should investors focus now? In this episode, hosted by Michelle Martin with Ryan Huang, we unpack Warren Buffett’s last portfolio reshuffle at Berkshire Hathaway - trimming Apple, Amazon and Bank of America while adding some well-known names. Berkshire has now been a net seller for 13 straight quarters - is the Oracle signalling caution at peak valuations? In media, Warner Bros Discovery’s $70B content deal with Netflix faces a last-minute push from Paramount - can it outbid and reshape the streaming battlefield? Tech leads markets higher as Nvidia inks a multi-year AI infrastructure deal with Meta, potentially squeezing Broadcom’s edge. In UP or DOWN, we size up Palo Alto Networks’ profit miss, Moderna’s FDA review reversal, and Yangzijiang Maritime’s proposed buyback. Back home, the STI reopens with CapitaLand Investment up while OCBC, DFI Retail and Hongkong Land lag - is Singapore ready to gallop into the Year of the Horse? Hear about Berkshire Hathaway, Apple, Amazon, Bank of America, New York Times, Domino’s Pizza, Chevron, Warner Bros Discovery, Netflix, Paramount, Nvidia, Meta, Broadcom, Palo Alto Networks, Moderna, Yangzijiang Maritime, CapitaLand Investment, OCBC, DFI Retail, Hongkong Land.See omnystudio.com/listener for privacy information.

We got the final filing of Berkshire Hathaway's stock holdings this week and it once again showed Warren Buffett selling tech stocks to buy consumer goods companies. Then we discussed Netflix's latest saga buying Warner Bros. Discovery and why homebuilders are building fewer homes. Travis Hoium, Lou Whiteman, and Rachel Warren discuss: - Buffet's final stock buys - Netflix gives Paramount one more shot - Homebuilder trends Companies discussed: Toll Brothers (TOL), Apple (AAPL), Netflix (NFLX), Warner Bros. Discovery (WBD). Host: Travis Hoium Guests: Lou Whiteman, Rachel Warren Engineer: Dan Boyd, Kristi Waterworth Disclosure: Advertisements are sponsored content and provided for informational purposes only. The Motley Fool and its affiliates (collectively, “TMF”) do not endorse, recommend, or verify the accuracy or completeness of the statements made within advertisements. TMF is not involved in the offer, sale, or solicitation of any securities advertised herein and makes no representations regarding the suitability, or risks associated with any investment opportunity presented. Investors should conduct their own due diligence and consult with legal, tax, and financial advisors before making any investment decisions. TMF assumes no responsibility for any losses or damages arising from this advertisement. We're committed to transparency: All personal opinions in advertisements from Fools are their own. The product advertised in this episode was loaned to TMF and was returned after a test period or the product advertised in this episode was purchased by TMF. Advertiser has paid for the sponsorship of this episode. Learn more about your ad choices. Visit ⁠megaphone.fm/adchoices⁠ Learn more about your ad choices. Visit megaphone.fm/adchoices

Plus: U.S. industrial production rose in January. What Berkshire Hathaway bought and sold during Warren Buffett's last quarter as CEO. And Mikaela Shiffrin wins the gold in the women's slalom. Alex Ossola hosts. Sign up for WSJ's free What's News newsletter. An artificial-intelligence tool assisted in the making of this episode by creating summaries that were based on Wall Street Journal reporting and reviewed and adapted by an editor. Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's West Coast Cookbook & Speakeasy Podcast for our especially special Daily Special, Smothered Benedict Wednesday is now available on the Spreaker Player!Starting off in the Bistro Cafe, Trump DOJ lawyers are quitting and posting about leaving their jobs on LinkedIn as the mass exodus continues.Then, on the rest of the menu, Mark Zuckerberg is set to testify for the first time in front of a jury in a watershed social media trial; Minnesota and federal authorities are separately investigating what caused the eight skull fractures that landed a Mexican citizen in the intensive care unit of a Minneapolis hospital; and, Warren Buffett's company invests in The New York Times six years after he sold all his newspapers.After the break, we move to the Chef's Table where Peru's Congress voted to remove interim President José Jerí from office as he faces corruption allegations; and, Paris prosecutors opened two new investigations into sex abuse crimes and financial wrongdoings linked to Jeffrey Epstein.All that and more, on West Coast Cookbook & Speakeasy with Chef de Cuisine Justice Putnam.Bon Appétit!The Netroots Radio Live Player​Keep Your Resistance Radio Beaming 24/7/365!“It may be safely averred that good cookery is the best and truest economy, turning to full account every wholesome article of food, and converting into palatable meals what the ignorant either render uneatable or throw away in disdain.” - Eliza Acton ‘Modern Cookery for Private Families' (1845)Become a supporter of this podcast: https://www.spreaker.com/podcast/west-coast-cookbook-speakeasy--2802999/support.

Bayer versucht wie schon 2020, die US-Klagewelle wegen des Unkrautvernichters zu beenden. Die Aktie steigt erst, fällt dann aber. Außerdem: Warren Buffett sorgt mit seinem letzten Depot für eine Überraschung.

“The single most important factor in evaluating a business is pricing power. If you’ve got the power to raise prices without losing business to a competitor, you’ve got a very good business. And if you have to have a prayer session before raising the price by 10%, then you’ve got a terrible business.” — Warren Buffett Episode Overview The final installment of a three-part pricing series focused on implementing pricing strategies in middle-market private companies. This episode covers the psychology of pricing, common errors, and a step-by-step execution framework. Key Topics Covered 1. Strategic Foundation of Pricing Pricing as the single most important factor in business evaluation (Warren Buffett) Pricing power as an indicator of business quality Connection between pricing strategy and overall company value creation Reference to monopoly control as a key value builder driver 2. Psychology of Pricing Loss Aversion: Business owners’ fear of losing customers vs. gaining new ones Understanding that not all customers are good customers Overcoming the fear that price increases will hurt new customer acquisition Dan Cremons’ warning about “the race to the bottom” with competitor-based pricing 3. Common Pricing Errors Under-pricing: Setting prices just to win deals Set and forget: Not regularly reviewing pricing strategy One-size-fits-all pricing: Failing to segment customers by value perception Inconsistent pricing: Allowing sales teams to discount without strategy 4. The Airline Industry Case Study Example of sophisticated pricing in a commoditized industry Revenue management departments optimizing for customer segments Differential pricing based on booking timing, route urgency, and customer needs Almost no two passengers pay the same price 5. Step-by-Step Pricing Implementation Framework Step 1: Baseline Assessment Document current pricing model Analyze how prices are established today Review historical pricing trends and experiences Step 2: Research & Validation Competitor pricing analysis (as input, not driver) Customer value research (most critical) Gauge perceived value by customer segment Understand what customers actually value vs. what you think they value Step 3: Testing Use test markets and customer subsets A/B testing for web-enabled businesses Avoid “ready, fire, aim” approach “In God we trust, all others bring data” Step 4: Execution Assign clear ownership for price changes Timing: Connect price increases to events Segmentation: Tailor communication approach by customer importance Major customers: In-person meetings Smaller customers: Phone calls or personalized emails Communication: Be clear on the “why” and “what’s in it for them” Avoid impersonal form emails Step 5: Measurement & Monitoring Continuous feedback loop Regular quarterly reviews (minimum) Adjust pricing frequency based on industry (daily/weekly/yearly) Never “one and done” 6. Core Principle: Value-Based Pricing Always match price to value created for customers Focus on customer’s perceived value, not competitor pricing Ensure pricing enables reinvestment in value creation Balance: Don’t leave money on the table, but don’t overcharge Action Items for Listeners Assess your current pricing model Document how you establish prices today Conduct customer value research Survey or interview customers to understand what they truly value Review pricing quarterly Set calendar reminders to evaluate pricing strategy Segment your customers Identify different customer tiers based on value perception Test a price change Start with one product/service (as discussed in Part 2) Assign pricing ownership Designate a point person for pricing strategy execution Plan your communication strategy Determine which customers need personal outreach vs. email Set up measurement systems Create dashboards to monitor pricing effectiveness Resources Mentioned Book: Winning Moves by Dan Cremons Previous Episodes: Parts 1 & 2 of the Pricing Series, Episode on Value Builder Drivers Contact: podcast@emergedynamics.com for questions or to share your pricing success stories Key Quotes “The single most important factor in evaluating a business is pricing power. If you’ve got the power to raise prices without losing business to a competitor, you’ve got a very good business. And if you have to have a prayer session before raising the price by 10%, then you’ve got a terrible business.” — Warren Buffett “To those taking a strictly market-based view of pricing and setting their price based primarily on competitor pricing: good luck in the race to the bottom.” — Dan Cremons “In God we trust, all others bring data.” – Unknown

Sino e Dom tornano per un nuovo episodio tra San Valentino e una caratteristica da cercare in un partner. Si passa poi alla società dei consumi e tutti i piccoli grandi comfort che prendiamo per scontati: come si sono generati, quando, perché non ci rendono contenti e cosa il nostro desiderio mimetico e di invidia ci fa fare come società, portandoci allo sviluppo tramite incentivo economico e avarizia e portando anche nuove tasse e redistribuzione, come in Olanda dove stanno per essere tassati gli apprezzamenti di valore non realizzati di beni. In fine Svizzera, Montecarlo e Olimpiadi edonistiche, tra cibo italiano e scorte di preservativi esaurite.(00:00:00) Intro(00:05:40) San Valentino e cosa cercare in un partner secondo Warren Buffett(00:09:10) L'incredibile benessere che prendiamo per scontato(00:10:44) Il desiderio mimetico che guida l'essere umano e l'evoluzione della società(00:13:02) Avarizia: un bene o un peccato capitale?(00:17:28) Società dei consumi ed ecosistema economico(00:22:32) Il potere dell'incentivo economico(00:25:42) L'Olanda tassa le plusvalenze non realizzate e le conseguenze(00:29:17) Cosa alimenta il sentimento popolare anti-benessere(00:36:15) Svizzera: la mosca bianca europea(00:38:13) Montecarlo(00:40:48) Fatti strani dalle olimpiadi tra cibo e amorosi sensiApri il link per sottoscrivere ad un piano Zencastr usufruendo dello sconto Expatriati del 30%https://zen.ai/u1PcslG4r8g7s1ZYsg35qw

Chad Hyams and Bob Stewart delve into the distinction between being committed and merely interested, particularly in the realm of entrepreneurship. Through lively discussions, they explore how commitment versus interest affects success, using personal anecdotes and examples from Olympic athletes and business ventures. They emphasize the importance of prioritizing and eliminating distractions to achieve clear wins. Warren Buffett's wisdom on success and saying no guides their conversation. Tune in to discover strategies to enhance commitment in various life areas and transform interest into actionable, sustained success. ---------- Connect with the hosts: •    Ben Kinney: https://www.BenKinney.com/ •    Bob Stewart: https://www.linkedin.com/in/activebob •    Chad Hyams: https://ChadHyams.com/ •    Book one of our co-hosts for your next event: https://WinMakeGive.com/speakers/   More ways to connect: •    Join our Facebook group at www.facebook.com/groups/winmakegive •     Sign up for our weekly newsletter: https://WinMakeGive.com/sign-up •     Explore the Win Make Give Podcast Network: https://WinMakeGive.com/   Part of the Win Make Give Podcast Network

*Disclaimer* This episode contains adult content and is not recommended for young listeners.   Hebrews 12:15 NLT “Look after each other so that none of you fails to receive the grace of God. Watch out that no poisonous root of bitterness grows up to trouble you, corrupting many.”   *Transcription Below*   About Dr. Morgan Cutlip:  It's hard to know where to start so I'll start with what matters most to me and that's my relationships.   I'm a mother to two kids, Effie (12) and Roy (9). They are hilarious, spirited, spicy, deeply thoughtful and emotional kids. I adore them and being their mother. They've challenged me in the most surprising and wonderful ways. I'm married to my high school sweetheart, Chad. I always feel like I lose a little street cred when I say that so, for the record, we didn't date that entire time and eventually reconnected years after college on MySpace (yup, now I've aged myself). He's the love of my life, an incredible man that loves others deeply, works so very hard, and continues to be open to growth and change.   I've worked in the field of relationship education for over 15 years alongside my father, Dr. John Van Epp, who is the founder of Love Thinks and developer of multiple relationship education courses that have been taught to over a million people worldwide. I started traveling to conferences with him when I was in junior high and so, in many ways, it feels like I've grown up in the relationship education field. He's amazing and brilliant and I'm blessed to have learned so much from him over the years we worked together and just cherish our relationship.   I distinctly remember a conversation with my dad over 20 years ago where I said that someday I wanted to support women, but I just wasn't sure how.   Fast forward 10 years and Effie (our oldest) was born and, holy moly, did motherhood hit me like a ton of bricks and I completely lost myself in motherhood (you can read the full story in my book).

McKay explores the counterintuitive truth that motivation is a byproduct of action rather than a prerequisite for it. Dismantling the myth that we must "feel ready" to begin, he provides a practical roadmap for moving forward even when personal drive has stalled.Drawing on insights from leaders like Warren Buffett and Jeff Bezos, McKay highlights the power of compounding consistency and the importance of distinguishing between reversible and irreversible decisions. He explains how to turn personal setbacks into progress through intentional reflection and why a rapid rate of learning often outweighs years of traditional experience. Through the discipline of saying ‘no', he illustrates how to achieve true alignment by prioritizing depth over the common trap of busyness. Ultimately, the secret to sustained growth is committing to motion first so that clarity and momentum can naturally follow.Main Themes:Action as the cause, rather than the result, of motivationThe life force of compounding consistency over intensitySeparating reversible from irreversible decisions to increase speedUtilizing the discipline of saying ‘no' to achieve true alignmentThe formula for progress: Pain + ReflectionWhy launching before you're ready is the key to clarityPrioritizing depth and high-leverage work over the trap of busynessAdopting a "Learn-it-all" vs. "Know-it-all" mindsetValuing the rate of learning over traditional experienceTop 10 Quotes:"Motivation is a byproduct of action and not the cause of it.""Waiting for motivation is waiting for lightning to strike.""Compounding isn't about doing something big once; it's about doing something small consistently until it becomes unstoppable.""Life rarely rewards intensity; it rewards consistency.""Most progress in life comes from moving quickly on reversible decisions and slowing down on the irreversible ones.""The breakthrough doesn't come from doing more; it comes from saying no and keeping your focus.""Readiness is usually the result of launching, not the prerequisite.""You don't need to win often; you just need to win meaningfully a few times.""Learn-it-all beats know-it-all."Show Links:Open Your Eyes with McKay Christensen

Spencer Jakab is an award-winning Wall Street Journal investing columnist with 30 years of finance experience who transformed from emerging markets research director into a financial journalist exposing how everyday investors repeatedly get fleeced by Wall Street's latest schemes.Episode Sponsor: Fiscal AI is a modern data terminal that gives investors instant access to twenty years of financials, earnings transcripts, and extensive segment and KPI data—use my link for a two-week free trial plus 15% off: https://fiscal.ai/talkingbillions/03:00 - Spencer's origin story: Growing up in Queens as son of Hungarian refugees, discovering investing through Peter Lynch's "One Up On Wall Street" in college, despite his late father's unsuccessful attempts to spark his interest earlier.08:00 - The accidental career path: Taking every finance class at Columbia, landing in emerging markets analysis covering post-Iron Curtain privatizations, then pivoting to Wall Street Journal journalism after a chance plane conversation led to same-day writing test and job offer.15:00 - GameStop reality check: The meme stock phenomenon wasn't the democratizing revolution portrayed on social media—it was another example of retail investors getting manipulated while believing they were "sticking it to the man."25:00 - The casino-fication of investing: How Robinhood and app-based platforms gamified trading with confetti animations and frictionless execution, making speculation feel like a mobile game rather than serious wealth-building.35:00 - Why passive beats active: Spencer explains the brutal math—only 11% of active fund managers beat the market over 30 years, and individual investors perform even worse due to fees, taxes, and behavioral mistakes.45:00 - The finfluencer trap: Social media rewards reckless investing behavior because outrageous bets generate more engagement than boring, sensible advice—creating dangerous incentive structures that harm followers.60:00 - Bots and manipulation: Modern markets face new threats from AI-generated social media campaigns pumping meme coins and stocks, making it nearly impossible to distinguish genuine sentiment from coordinated manipulation.67:00 - Defining success: Spencer's powerful reflection on career choices—turning down potential hundreds of millions to do work he loves, echoing Warren Buffett's definition of success as having people genuinely care about you when you're gone.Podcast Program – Disclosure StatementBlue Infinitas Capital, LLC is a registered investment adviser and the opinions expressed by the Firm's employees and podcast guests on this show are their own and do not reflect the opinions of Blue Infinitas Capital, LLC. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice.Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed.

An inspirational grab bag of ideas related to my approach to audio journaling. Outline:(0:42) Weekly sermon(2:54) Getting new ideas like J.S. Bach(4:20) See the lighthouse through the fog(9:00) Warren Buffet advice(11:30) Experts on Tiktok(13:25) Masterclass(14:55) Doomscrolling(17:03) Bullet points for audio journal(20:53) Obstacles(23:57) Positive vs. negative journaling(28:20) Super supporters(30:23) Micro-momentsVisit www.allthehatswewear.com

O "Ulrich Responde" é uma série de vídeos onde respondo perguntas enviadas por membros do canal e seguidores, abordando temas de economia, finanças e investimentos. Oferecemos uma análise profunda, trazendo informações para quem quer entender melhor a economia e tomar decisões financeiras mais informadas.00:00 – Começando mais um Ulrich Responde 00:08 – Atualizações Caso Master e Dias Toffoli 04:55 – A liquidez global e o ciclo econômico atual são sustentáveis até o fim do ano? 08:25 – Ativos dolarizados protegem contra a perda de poder de compra da moeda? 11:12 – Existe juro real positivo no Brasil ao descontar a expansão da base monetária? 15:19 – As regras de Basileia III no Brasil e a alocação de Bitcoin por bancos 18:12 – IPOs de empresas como SpaceX e OpenAI poderiam marcar o topo do mercado? 20:59 – O Clarity Act e a proibição de rendimentos em stablecoins nos EUA 21:59 – A China e a suposta descoberta de princípios para a formação de ouro artificial 23:50 – Por que o alarmismo e a demonização do Bitcoin aumentam durante as quedas? 26:04 – A "espiral da morte": o orçamento de segurança do Bitcoin está fadado a encolher? 30:43 – Faz sentido comparar o gráfico histórico do Bitcoin com a mania das tulipas? 33:24 – Como o Bitcoin se comporta em um cenário de dólar fraco e expansão de M2? 34:59 – Por que bancos chineses estão reduzindo a exposição aos títulos do Tesouro dos EUA? 36:46 – Você investe em ações brasileiras? ETF ou Stock pick?37:07 – O governo pretende taxar stablecoins e criptoativos com IOF? 38:06 – Warren Buffett está fazendo "market timing" ao acumular recorde de caixa? 39:32 – Previsão para a Selic no fim de 2026 e o cenário de caos no governo 40:39 – Qual o momento de sair da bolsa brasileira?41:25 – Como a China segura o câmbio contra o dólar, mas desvaloriza contra o ouro? 42:56 – A OranjeBTC (OBTC3) pode criar mecanismos de rendimento para o acionista? 43:45 – Inteligência Artificial: a nova internet ou uma evolução com limitações? 44:56 – Teremos mais dias tenebrosos no escândalo do Banco Master? 45:32 – Stablecoins são uma inovação real ou apenas hype com dias contados? 46:00 – Existe solução jurídica para o Brasil diante de tanta corrupção? 46:07 – Por que pessoas de esquerda tendem a odiar ou desconfiar do "mercado"? 47:28 – Cursos sobre ciclos de mercado e economia real 47:47 – Recomendações de canais e autores estrangeiros de macroeconomia 48:32 – A reforma trabalhista da Argentina50:16 – Como não se desanimar com a impunidade e os escândalos da República?

Trigger the We Pay: How a Sworn Proof of Loss Changes Everything https://www.publicadjusterbootcamp.com/   Recorded live at the SRC Summit, this conversation brings together Attorney Shaun Hodge and Public Insurance Adjusters Cal and Melanie Spoon for a blunt, practitioner level breakdown of what actually moves an insurance claim from "stuck" to "resolved." Their core message is simple: most delays, denials, and "frivolous" lawsuits trace back to one root problem, incomplete performance of the policy's Duties After a Loss. When the claim file is built correctly and the Sworn Proof of Loss (SPOL) is submitted as a true package, it triggers the carrier's obligations under the We Pay section, starts real statutory timelines, and forces a decision. From there, the path is clean: pay and close, or breach and face consequences. Expect practical guidance on documentation, process discipline, when to go legal, how to preserve leverage, and why so many professionals unknowingly give the carrier extra time, extra control, and extra "float." Speakers Shaun Hodge: Policyholder Attorney focused on insurance claim litigation and pre suit strategy. Cal Spoon: Public Insurance Adjuster and educator focused on building defensible claim files and contract compliance. Melanie Spoon: Public Insurance Adjuster and operator known for process, documentation standards, and clean file systems that hold up under scrutiny. What You Will Learn Why education is the real separator in claims handling, not influence, hype, or "industry talk." How the SPOL is the carrier's kryptonite because it triggers the first step toward the We Pay obligation. Why the "proof of loss" is not a single page, it is a complete package built from the Duties After a Loss. Why bad faith verdicts are rare, and how most cases never qualify because the policy conditions were not fully met. What the 60 day pre suit notice really does, and how it can become both a delay tool and a leverage point depending on file quality. How to treat the claim like a relay race, where PAs run their lap, then hand off cleanly to counsel at the right moment. Why documentation must be business record quality, not memory, not verbal, not "I remember he said." How supplements and amended SPOL submissions affect timelines, and what does and does not restart the clock. How DRP and managed repair programs should be evaluated against one standard: does it match the SPOL scope and restore pre loss condition. Why appraisal often becomes a "baseball bat" when the dispute is really scope or coverage, not price. The debate around PA fees, historical context, and why they argue it should be treated like other required experts. Key Topics Covered 1) Stop making the contract "gray" The speakers argue the policy is far less confusing than people assume, but it becomes gray when professionals do not follow the Duties After a Loss with precision. 2) The We Pay section is not a suggestion Until the insured's side fulfills the conditions, the carrier can treat payment like a "gimme." Once conditions are met, it becomes obligation. 3) SPOL as leverage, not paperwork They frame the SPOL as the trigger that changes the carrier's risk assessment, shifting you from "low threat" to "this file is dangerous." 4) Why attorneys end up doing adjusting work When a file reaches counsel without proper performance, the attorney spends the pre suit period doing the Duties After a Loss for the first time, which weakens bad faith potential and delays progress. 5) Documentation that survives depositions Contemporaneous field notes, follow up emails, consistent templates, and repeatable process create business records that are admissible and defensible. 6) Timing: do not hand off too early or too late They push a practical expectation that many residential claims should be positioned for resolution or litigation within roughly 60 to 90 days, depending on complexity. 7) Float, delays, and why time is money They explain how carriers benefit when claims linger, and why fast, compliant performance forces either closure or escalation. 8) Engineering reports, rebuttals, and control If a carrier produces a report, you rebut it with specificity and speed. If you do not call out the issues in writing, the carrier later argues they were never given the chance to correct it. 9) Complaints with teeth A complaint should be tied to a clear violation of statute or required timelines, supported by evidence, and copied appropriately including the insured. Memorable Lines and Ideas "You will never force the We Pay section until you perform the Duties After a Loss." "The proof of loss is a package." "Build every file like it's going to war, then hope for peace." "Do not make the attorney become an adjuster. Let the attorney do attorney things." Practical Takeaways You Can Apply Immediately Treat the SPOL as a complete package, not a summary sheet. Run a repeatable process on every claim, no shortcuts, no "this one is different." Memorialize key conversations in writing quickly. Non response often becomes meaningful. Rebut engineer opinions with policy grounded logic and factual corrections, not emotion. Hand off to counsel only when the file is ripe for litigation, not when it is messy. Keep the insured informed early so depositions do not produce surprise, shock, or confusion. Resources Mentioned The concept of insurance "float" often discussed by Warren Buffett. Policy language: Duties After a Loss and We Pay conditions. Industry discussion: managed repair and DRP style programs, appraisal strategy, and statutory timing rules. Disclaimer This episode is for education and discussion only. It is not legal advice. Laws and policy language vary by state and by carrier form. Consult qualified counsel for guidance on any specific claim.

Warren Buffett no construyó su historia con prisa, sino con paciencia. Mientras el mercado se mueve por impulsos, él se hizo famoso por hacer lo contrario: esperar, leer, entender y apostar solo cuando tenía sentido.En este documental repasamos su camino desde sus primeros años —marcados por los números, la disciplina y una curiosidad obsesiva— hasta la creación de Berkshire Hathaway y la filosofía que lo convirtió en una referencia mundial del value investing. También entramos en los momentos que definieron su carrera: su sociedad con Charlie Munger, el poder de las decisiones a largo plazo y el episodio de Salomon Brothers que puso a prueba su reputación.Únete a DC Community y accede a contenido exclusivo y una comunidad que te impulsa a crecer.

Warren Buffett no construyó su historia con prisa, sino con paciencia. Mientras el mercado se mueve por impulsos, él se hizo famoso por hacer lo contrario: esperar, leer, entender y apostar solo cuando tenía sentido. En este documental repasamos su camino desde sus primeros años —marcados por los números, la disciplina y una curiosidad obsesiva— hasta la creación de Berkshire Hathaway y la filosofía que lo convirtió en una referencia mundial del value investing. También entramos en los momentos que definieron su carrera: su sociedad con Charlie Munger, el poder de las decisiones a largo plazo y el episodio de Salomon Brothers que puso a prueba su reputación. Únete a DC Community y accede a contenido exclusivo y una comunidad que te impulsa a crecer.

WBS: Only Love No H8 #348 -- The gang is at it again. Brimstone is joined by his wing-man Alex DaPonte and Brim's wife Danielle as they chat about San Francisco's recent March for Billionaires, Alex professes his disdain for the current tax bracket system, and they argue about Warren Buffett and his philanthropy. They discuss Valentines Day, and Fashion Week NYC. They discuss the Half-time show, how Bad Bunny was incredible, and how Puppy Bowl's viewership well surpassed Kid Rock's pre-taped and lip-synched show. Brim explains what gets Within Brim's Skin.

Tori only thought they were losing it. Their snow continues and we decided to scour the internet for what they are saying about parents in the media. Did you know Warren Buffett was a gentle parent? Who knew? And then we spend most of the rest of the episode being very millennial and complaining about a Buzzfeed article. It's not so much complaining as pointing out how it's wrong a bunch. So like I said, being very millennial about it. We want to hear from you! Do you have questions, comments, jokes, or anything else you want us to know? Email us: Childproofmail@gmail.com ⁠Join our Patreon for pre-show bonus content⁠ Video version of ⁠Childproof available on Youtube ⁠ Be sure to check out our other show ⁠⁠Founded⁠⁠ ⁠⁠Preorder Gwenna's new book⁠⁠ Childproof is a part of the Airwave Media network. Please contact ⁠advertising@airwavemedia.com⁠ if you would like to advertise on our podcast Learn more about your ad choices. Visit megaphone.fm/adchoices

On this episode, Travis and his producer Eric riff through classic quotes from figures like Ben Franklin, Thomas Edison, Jim Rohn, Epictetus, and even the Joker's mom, using each line as a launchpad to talk about money, time, self-education, and what opportunity really looks like in real life. They blend humor, movie references, and personal stories to challenge conventional wisdom and show why rethinking your relationship with learning, work, and wealth is essential if you want to build a life you actually enjoy. On this episode we talk about: Why “time is money” is incomplete and why time is actually more valuable than money How Warren Buffett illustrates the tradeoff between wealth and years of life The difference between formal education and self-education (and why school can make you hate learning) What opportunity really looks like, and why it usually shows up disguised as hard work and skill-building Stoic ideas about wealth, wanting less, and why money is a terrible master but an excellent servant Top 3 Takeaways Time is your most valuable asset, more important than money or status, and no amount of cash can buy back lost years. Self-education, driven by curiosity and discipline, is what creates real fortunes and career breakthroughs—especially once you realize school barely scratched the surface. Opportunity rarely appears as a dream job handed to you; it shows up as hard work, skill development, and adding value long before any big payoff. Notable Quotes "Time is the most valuable asset that we have, so it's actually greater than money." "Most people think education stops, but everything in my career started when I realized I didn't know anything and had to go learn it myself." "People have this idealistic version of what opportunity looks like, but lack of opportunity is not what stands between you and success." Connect with Travis:• LinkedIn: https://www.linkedin.com/in/travischappell• Twitter/X: https://twitter.com/travischappell• Instagram: https://www.instagram.com/travischappell• Other: travischappell.com Travis Makes Money is made possible by High Level – the All-In-One Sales & Marketing Platform built for agencies, by an agency. Capture leads, nurture them, and close more deals—all from one powerful platform. Get an extended free trial at gohighlevel.com/travis. Learn more about your ad choices. Visit megaphone.fm/adchoices

Most people don't avoid investing because they hate returns; they avoid it because they lack confidence. In this episode, Sean Tepper shares how his journey from athlete to entrepreneur led him to build a data-driven stock analysis platform that removes emotion and noise from investing. Listen now to learn how confidence, not complexity, is the real edge in the stock market.   Key Takeaways To Listen For Why copying stock tips and social media advice leads to inconsistent results Traffic-light rating system vs. spreadsheets and gut instinct The real reason investors use Tykr How to help investors know when to hold or sell What "stockpiling" does during market pullbacks   Resources/Links Mentioned In This Episode Rule #1 by Phil Town | Kindle, Paperback, and Hardcover Payback Time by Phil Town | Kindle, Paperback, and Hardcover Smarter Faster Better by Charles Duhigg | Kindle, Paperback, and Hardcover Libby   About Sean TepperSean Tepper is the Founder and CEO of Tykr, a global investment research platform that provides retail investors with institutional-grade financial data, valuation tools, and earnings transcripts. Prior to founding Tykr, Sean worked in private equity, where he saw firsthand how professional investors accessed information that everyday investors could not. He launched Tykr to level the playing field by making high-quality financial data transparent, affordable, and easy to use. Under his leadership, Tykr has grown into a widely used platform trusted by investors worldwide for fundamental analysis, long-term investing, and company research.   Connect with Sean Website: Tykr   Connect With UsIf you're looking to invest your hard-earned money into cash-flowing, value-add assets, reach out to us at https://bobocapitalventures.com/.   Follow Keith's social media pages LinkedIn: Keith Borie Investor Club: Secret Passive Cashflow Investors Club Facebook: Keith Borie X: @BoboLlc80554

In Episode 462 of Hidden Forces, Demetri Kofinas speaks with Cullen Roche, the Founder and CIO of Discipline Funds and author of the new book "Your Perfect Portfolio." They discuss the essential principles of portfolio construction by dissecting some of the world's most influential investment strategies―from Warren Buffett's classic approach to the momentum-driven tactics of trend followers, and even innovative frameworks you've likely never seen before.  Cullen and Demetri spend the first hour discussing Roche's philosophy on portfolio construction, what goes into constructing the perfect portfolio, and how variables like one's time horizon, financial circumstances, and behavioral biases are arguably the most important determinants of financial returns, and therefore, must be actively taken into account when structuring your portfolio. They explore the distinction between saving and investing, the hidden costs that erode portfolio performance, and why managing the liability side of your balance sheet is arguably more important than any other decision in portfolio construction.  The second hour is a deep dive into specific portfolio strategies, including the permanent portfolio, the endowment portfolio, the Buffett portfolio, dividend investing, counter-cyclical rebalancing, and Cullen's favorite: the defined duration portfolio. Roche explains how to think about asset allocation across different time horizons, the role of gold and other insurance-like assets in one's portfolio, the importance of cost control in financial life, and practical frameworks for managing behavioral responses to market volatility. Subscribe to our premium content—including our premium feed, episode transcripts, and Intelligence Reports—by visiting HiddenForces.io/subscribe. If you'd like to join the conversation and become a member of the Hidden Forces Genius community—with benefits like Q&A calls with guests, exclusive research and analysis, in-person events, and dinners—you can also sign up on our subscriber page at HiddenForces.io/subscribe. If you enjoyed today's episode of Hidden Forces, please support the show by: Subscribing on Apple Podcasts, YouTube, Spotify, Stitcher, SoundCloud, CastBox, or via our RSS Feed Writing us a review on Apple Podcasts & Spotify Join our mailing list at https://hiddenforces.io/newsletter/ Producer & Host: Demetri Kofinas Editor & Engineer: Stylianos Nicolaou Subscribe and support the podcast at https://hiddenforces.io. Join the conversation on Facebook, Instagram, and Twitter at @hiddenforcespod Follow Demetri on Twitter at @Kofinas Episode Recorded on 02/02/2026

DOWNLOAD: https://www.terri.com/time-map/Do you feel busy all day but still struggle to make progress on your goals? If you're working hard but not seeing the results you want, this episode is for you.In this podcast, Terri shares proven productivity strategies, success habits, and practical goal-setting tips that help you get more done, stay focused, and move closer to your dreams—without burnout.You'll learn how to: stop wasting time on low-priority tasks, work smarter instead of harder, stay focused on what moves you toward success, and create daily habits that support your goals and dreams.These productivity principles have been used by some of the world's most successful people like Warren Buffett and Steve Jobs, and they've transformed Terri's life as well. They align with Ephesians 5:15-16, reminding us to make the most of the time and every opportunity God gives us.If you're serious about reaching your goals, maximizing your potential, and living out your purpose, this episode will give you the clarity and motivation you need to take action today.RESERVE your spot at ICING Women's Conference in Dallas: https://www.terri.com/icing/GIVE today: https://www.terri.com/single-donation/?form=FUNFNTXHRWPThank you to our partners—you make this ministry possible!PARTNER with Terri to make a difference: https://www.terri.com/partnership/FOLLOW ME IN FRENCH: https://podcasts.apple.com/us/podcast/terri-savelle-foy-podcast-audio-en-fran%C3%A7ais/id1698308606SAY HELLO!Website → https://www.terri.com/Instagram → https://www.instagram.com/terrisavellefoy/Tik Tok → https://www.tiktok.com/@terrisavellefoyPinterest → https://www.pinterest.com/terrisavellefoy/ Support the show

Register here to attend the live virtual event "Why Central Florida is the Year's Most Compelling Housing Market" on Thursday, February 19th at 8pm Eastern. Keith looks at how a changing Federal Reserve leadership might shape the interest rate environment, then zooms in on what's really happening with homebuilders versus remodelers across the country.  You'll hear about a lesser-known strategy some investors are using to step back from day-to-day landlording while keeping their income, and then we head to Central Florida to explore why one fast-growing market is quietly becoming a hotspot for new-build rental properties.  Along the way, a longtime Florida builder joins the show to explain how they're creating affordable, investment-friendly homes and what kinds of rents and tenant demand they're seeing on the ground—plus a way you can learn more live if this opportunity fits your own portfolio plans. Resources: Register for the event at GREwebinars.com Episode Page: GetRichEducation.com/592 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching: GREinvestmentcoach.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  For predictable 10-12% quarterly returns, visit FreedomFamilyInvestments.com/GRE or text  1-937-795-8989 to speak with a freedom coach Will you please leave a review for the show? I'd be grateful. Search "how to leave an Apple Podcasts review"  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— GREletter.com  Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Keith Weinhold  0:01   welcome to GRE. I'm your host. Keith Weinhold, the naming of a new Federal Reserve Chair. Then are homebuilders in trouble today? There are a dwindling number of them, and their profits are down. I'll talk to a homebuilder. Listen to what amenities tenants want today, and it's interesting. We'll learn how low of a mortgage rate builders will give you. Now there's an opportunity here today on get rich education.   Corey Coates  0:30   Since 2014 the powerful get rich education podcast has created more passive income for people than nearly any other show in the world. This show teaches you how to earn strong returns from passive real estate investing in the best markets without losing your time being a flipper or landlord. Show Host Keith Weinhold writes for both Forbes and Rich Dad advisors, and delivers a new show every week since 2014 there's been millions of listener downloads of 188 world nations. He has a list show guests include top selling personal finance author Robert Kiyosaki. Get rich education can be heard on every podcast platform, plus it has its own dedicated Apple and Android listener phone apps build wealth on the go with the get rich education podcast. Sign up now for the get rich education podcast or visit get rich education.com   Keith Weinhold  1:14   mid south home buyers with over two decades as the nation's highest rated turnkey provider, their empathetic property managers use your return on investment as their North Star. It's no wonder smart investors line up to get their completely renovated income properties like it's the newest iPhone headquartered in Memphis, with their globally attractive cash flows, mid south has an A plus rating with the Better Business Bureau and 4000 houses renovated, there is zero markup on maintenance. Let that sink in, and they average a 98.9% occupancy rate with an industry leading three and a half year average renter term. Every home they offer you will have brand new components, a bumper to bumper, one year warranty, new 30 year roofs. And wait for it, a high quality renter in an astounding price range, 100 to 150k GET TO KNOW mid south enjoy cash flow from day one at mid southhomebuyers.com that's mid southhomebuyers.com   Speaker 1  2:17   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  2:33   Welcome to GRE from countersport Pennsylvania to Davenport Iowa and across 488 nations worldwide. I'm Keith Weinhold, and you're listening to get rich education now more than ever, where you learn about personal finance and real estate investing matters. There's more AI generated content out there. This show is all flesh and blood me. There's also more clickbait content out there that says something like the housing market is about to have a price crash. No, it's not. They're just there to get short term attention. So your information source really matters today. New incoming Fed chair, Kevin Warsh, was recently named. He will replace the outgoing Jerome Powell on May 15. I want to tell you more about that in a moment. But first, just imagine if this scenario were to occur, say that we get a Fed chair that has to deal with really high inflation. And so what this Fed chair does is that he successfully brings inflation down, and he does that without triggering a recession that's called a soft landing. Well, you know what? That's exactly what Jerome Powell did the past three years. Yeah, that's what he's accomplished, and he doesn't get credit for it. He only gets a lot of criticism. Now this doesn't mean that I love Powell. I don't even know that the Fed should exist at all, but Powell got a lot of criticism for calling 2022, wave of inflation transitory, and being too late to respond to it. So he gets some credit here as his term of more than eight years winds down. Let's listen in to some of Jay Powell's recent comments about succession,    Speaker 2  4:23   you've obviously experienced a lot during your time as Fed chair, served under multiple presidents. I'm wondering what advice you have for whoever your successor might be.   Speaker 3  4:34   Honestly, I'd say a couple of things. One is, you know, stay out of elected politics. Don't get pulled into elected politics don't do it. And that's another thing. Another is that you know, our window into democratic accountability is Congress, and it's not a passive burden for us to go. To Congress and talk to people. It's an affirmative, regular obligation. If you want democratic legitimacy, you earn it by your interactions with the our elected overseers. And so it's something you need to work hard at, and I have worked hard at it so and the last thing is, you know, it's easy to it's easy to criticize government institutions so many ways. I will tell whoever it is you're about to meet the most qualified group of people you not only have ever worked with, you will ever work with and when you meet fed staff. And not everybody's perfect, but, but there isn't a better cadre of professionals more dedicated to the public well being than work at the Fed.    Keith Weinhold  5:43   Yeah. So to Powell's point, the next Fed chair, worsh, does champion fed independence, much like Powell has. That is a good thing that keeps America from turning into a banana republic that maintains a strong dollar. Warsh was actually a Fed Governor back during the 2008 global financial crisis, so he's got that experience when he comes in as Fed Chair in three months, he's widely expected to lower interest rates more than Powell did, much like the president wants. Kevin Warsh looks a lot like Michael Scott from the office. He has got to be less bumbling than him, though, overall, the effect on real estate and mortgage rates by shifting from PAL to worsh, I mean, that should be pretty mild. Maybe you'll see rates go a little lower than if pal had stayed and speaking of rates, wait till you see how low the mortgage rate is that our homebuilder guest is offering today. What's really happening with homebuilders now? How much trouble are they in? Homebuilders have largely been maligned. Overall. There are fewer homebuilders today in America than there were 20 years ago, and there are more remodelers than there were 20 years ago, fewer home builders, more remodelers, and that's for a few different reasons. Over the past couple decades, we just have substantially higher labor and material costs, stricter building and energy codes, higher interest rates, and that disproportionately hurts long duration construction projects. We've got zoning constraints and land constraints that make ground up development slow and uncertain and risky. So while the number of Home Builders in America is down, the number of remodelers are up, because America's housing stock is getting older. Its median age is over 40 years, and that creates constant demand for upgrades. Capital prefers faster, lower risk cycles. That's what remodels offer, and homeowners with locked in low mortgage rates choose to stay in place. And what does that make them do? That makes them renovate and remodel, not move. So this is why, compared to 20 years ago, you have fewer home builders and more remodelers. Today, that's per the NAHB and the Census Bureau and all these forces, they've resulted in a lower profit margin for homebuilders. Yes, homebuilder margin compression for a lot of the bigger builders, including DR Horton, just as you might guess in this cycle, their profits were greatest in 2022 and they have fallen since then. Higher mortgage rates came in, and builders had to lose profits by offering more incentives to entice buyers. You're going to learn more about that today and how it really spells quite an opportunity for you and I. When the final change in national home prices was tallied for the end of last year, they had risen in 16,500 zip codes. All right, that's 63% of America's zip codes, and prices were lower from a year earlier in the other 37% home price gains were concentrated in the Northeast and Midwest, and the story there continues to be too many buyers and not enough homes. In fact, over 85% of zip codes saw price growth in Illinois, Connecticut, Wisconsin and Indiana, slow, steady, stubborn, kind of like winter refusing to leave. Losses were predominant in the Sun Belt. Prices caught their breath there. There was price attrition in Florida, with 96% of zip codes, so nearly all of Florida, then California, 78% of zip codes had a price loss. Texas, 75% of them and Arizona, 73% the biggest pocket of opportunity appears to be in Florida. Florida property is on sale. And because real estate is local. A lot of times we talk here nationally, but to get to that local level, sometimes you have to dig in to a local market to really find out what's going on. We're going to do that today. Now, central Miami, Orlando and Tampa, they're not generally the spot for obtaining cash flow from long term rentals. I've identified an opportunity. We'll get into that with this Florida homebuilder shortly. It's kind of funny. You'll run into people that say they want opportunity, but what they really want is certainty. How it plays out, though, is that once the certainty arrives, the opportunity is gone, and that's how to think about Florida and maybe Texas and some of these other markets today that have had price attrition.    Keith Weinhold  10:48   Now, three weeks ago, here on the show, I discussed the 721 exchange for the first time. So I won't get into all those details again when it comes time for you to sell your investment property, the 721 can be the best way for you to cash out. Perhaps you've been investing in real estate for a while and you have turned get rich education into got rich education. How the 721 exchange works is they basically say you have a case where you're a rental property owner and you realize that you don't want the hassles of landlording anymore. Oftentimes, this can mean you're older and real estate investing already took you where you wanted it to take you in life's journey, but you still like the financial benefit that ownership gives you. What you can do is exchange your properties into a partnership and receive shares in that partnership. Now that's different than a 1031, exchange. That's where you trade up some of your property that you directly own for what's usually more and larger property that you directly own. Well, instead, here's the big deal with exchanging your properties into a 721, partnership. The rules stipulate that this is not a taxable event, and therefore you don't have to pay any capital gains tax or depreciation recapture. Now that you're an owner in the partnership, you still get some of the benefits of owning the property, like appreciation and cash flow and such, yet no management or landlording at all like you would have with a 1031 and with a 721 you get all these benefits across a greater number of properties and markets diversification because you're a fractional owner in the other properties that are in the partnership, not only your own, and when you eventually pass away, your shares are stepped up in basis and can be distributed equally to heirs and C It's surely easier for you to divide shares among, say, your three children, than it is to divide your 18 rental houses among three children Who are going to have different goals and varying degrees of financial savvy. So the 721, exchange is a great estate planning tool too. You will have this partnership that makes an offer to buy your property. You're exchanging them for partnership shares. There's a firm that does this called flock homes, and they have a certain Buy Box to be clear with the 721, exchange, you can basically trade your rentals for shares in a diversified, professionally managed Real Estate Fund. This means that you keep your hard earned equity defer capital gains and other taxes, and you still get access to steady income and long term appreciation without the hassle of landlord duties, and you can visit flockhomes.com/gre, and get a free valuation. Get an offer for your property, see if it fits their buy box and see how much they'll pay you. There's often no need to pay to fix up or stage the property for sale or pay agent commissions for a certain investor type. This really can be a rather life changing experience for you to liquidate some or all of your property have zero tax obligation and still enjoy income and appreciation. So again, what you can do is stop by flock homes.com/gre, that's F, l, O, C, K, homes.com/g, R, E, let's discuss the home building climate today.   Keith Weinhold  14:38   I'd like to bring in a premium Florida homebuilder guest to the show, Jim, because there has been more homebuilding in Florida such that some areas of the state have excess supply. And when you add that onto the fact that the hot pandemic migration to Florida has slowed such that home prices have made a rare dip in the state, that is why it. A timely topic. Jim, you're on GRE Welcome to the show. Keith, great to be here. Thanks for having me. Yeah, and we did the IRL thing in Colorado there a few weeks ago. That was great hanging out in person. You provide entry level new build homes, mostly in Central Florida. And these are properties that are conducive to real estate pays five ways. These are properties that investors chiefly buy as rentals. So just bigger picture, tell us about that overall experience over, say, the last five years, as the pandemic wound down,    Jim Sheils  15:35   yeah, as the pandemic wound down, obviously Florida had a lot of attention. Some of it, rightly so, some of it, I think a little more inflated and commercial attention getting thrown at it. And you know, the type of deals that you and I have always stayed away from were very popular in Florida. You know, we're talking really nice houses. Keith, beautiful, nice HOAs people got in in 2021 let's say, with those very low interest rates on a six or $700,000 home, but now they're realizing that it's not going up $100,000 a year as they thought. And when they try to sell it, well, people trying to buy in $700,000 home, they're not getting that low interest rate. And if these people try to hold it and rent it, well, it doesn't cash flow, so it breaks one of those rules. It's not putting money in people's pockets, taking it out. And so we're seeing there was a large distribution of those types of houses around Florida. And then there were some builders like us that really focused on what was the most needed, and that was workforce housing. Now workforce housing, though, Keith, as you know, a lot of the builders don't want to build it. Why? Let's be straight. It's because the margins are lower right. But as you know, with me and my partner Chris, it was always let's make less margin and do more volume. That was always our model, and that was the area of the market where we felt we could build it right, we could get it financed right, and we could manage it right to hit the five things. And so we're seeing today, post pandemic, there are still key markets where the population growth is still the highest, coming into Florida, the prices are still the lowest, and there is a shortage of this type of workforce housing.   Keith Weinhold  17:11   Yes, you've identified a geography within Florida that have some of these characteristics like you're talking about. Tell us more about that region.   Jim Sheils  17:20   Yeah, we call it the Ocala region, so Central Florida, just west of Orlando. Right now, for example, u haul does their U haul top markets rankings every year? So where are the most U haul trucks going to now, you don't want to be on their side where they're coming from, Keith, because that's obviously the opposite. But for the second year in a row, the greater Ocala area has been the number 1u haul destination place in the country. So there's still a ton of population growth going there. Central Florida, I'm not going to say it sat out the growth during the pandemic that a lot of areas of Florida did, but it was starting at such a low basis with such a small amount of attention that today, even when people say, oh gosh, like I just said, house is 600 700 800,000 we're building new construction single family homes for under 300,000 the 270s a lot of the time. And we're building duplexes sometimes for under 400,000 and a lot of our you know, investors coming from the west coast. Say, are these fully built? Are they? But again, Central Florida has had a great affordability. Remain intact. It has a large population going in. There is a ton of job resource just blowing up in the area. And as you know, these are the things we look for. So we bought a lot of lots there. I'm gonna give credit to my partner, Chris. He saw calla more than I did, and we bought a lot of lots there in 2020 so before all the rises. So we got into the land basis, right? So that means we can build them at a great price. Our land basis is low, and that obviously passes along to our clients. And again, Central Florida is a perfect match for our goal. Because, you know, our goal is workforce housing, that cash flows on day one. But also nothing wrong with fixer uppers. I own a lot. I used to do a lot, but the new construction seems to have a little bit more of a less involvement, which it seems like a lot of our clients want.   Keith Weinhold  19:15   That was really prescient, as it turned out, for your business partner, Chris there to gobble up a lot of that land in 2020 before prices went soaring. And this is one reason why you can do things like offer a duplex for less than 400k That's a new build, which has some people saying like, does that thing include a roof even? But it surely does. These are very good quality livable properties. And the reason I have you here, Jim is because you are rare. There are fewer builders today than there were in decades past, and also those that build to your point earlier. They only want to build higher end properties, not the more affordable ones that you offer. We'll get more details on your price points and what properties. Products you offer later. But yeah, we have more remodelers today and fewer builders. And though it's a few years old, I found it interesting that census statistics show us that between 2007 and 2022 there are 73% more remodelers and 21% fewer builders today.    Jim Sheils  20:22   Interesting. You know, Keith, I didn't know that, and that makes me scratch my head on like when you and I were in Colorado, we were talking about future needs, even with growth that occurred during the pandemic going all the way back to oh eight when a real shortage started to start, we are still at an estimated three to 5 million homes short in the US. It really perplexes me that the amount of builders like us will be going down and not actually entering the market.   Keith Weinhold  20:47   Now, among those that are building, though, much of that is concentrated in the South, as I think we know, there's a recent resi club compilation show that 59% of current single family home building is in the south, and 41% is everywhere else. And how do you define the South? That's basically Maryland down to Florida, all the way out to Texas and Oklahoma. So you are pretty rare in some ways. However, where you're building regionally, that's not a rarity there, but yeah, having more remodelers today and fewer home builders, that's probably the result of a lot of things. You know, for one thing, just land and construction costs becoming that much more expensive over the past five years.   Jim Sheils  21:05    Yeah, we've been lucky, too, as you know, Keith, you've been with us for a decade now. But yeah, and we transitioned a piece of our company where Sumitomo forestry, large Japanese group stepped in and acquired a piece of our property. That was a very exciting thing for all of us together, because we had done well, and, you know, started small and built up to a decent sized builder for Northeast Florida and then the rest of Florida. But now, with Sumitomo coming in again, they build 17,000 homes worldwide every year, between all of their builders. Now being a part of them, we get to use their national material accounts, so they get pricing just as good, if not better, than national home builders, and they let us do our thing, stick to our build to rent, working with investor clients. We're not retail buyer guys, really. We like working with our investors, but just getting those great discounts on materials, again, we're always looking to pass on savings to our clients. Of course, we got to make margins as well, but if we're getting in with deals like that, getting into the land right, and knowing the pinpointed areas to get into, we can get the best deal for everyone. And that's been a major part having such a big, successful partner like Sumitomo keep us healthy, viable and able to do things we could have not even dreamed of five years ago.   Keith Weinhold  22:47   Yes, that gives you more capital and more options. Another unusual aberration in the market that really centers on a lot of what you do is that this fact that and this was mentioned on the show last year for the first time in my life, existing homes cost more than new build homes. Existing homes at about 420k nationally, and new build homes about 392k part of the divergence there is probably builder price cuts. So tell us more about that.    Jim Sheils  23:14   I think the issue Heath is builders built for largest spreads, and people bought very emotionally. I think you're to give you a compliment a very unemotional real estate buyer. You're not looking at, oh, this is a very nice, you know, extra his and hers porcelain sink. And we're looking at fundamental numbers a good, solid property. And I think what's caused a lot of that is people did the opposite. Builders were looking for the largest margin they could get, which was on those types of properties. And then buyers were looking very emotionally, and they were told, Hey, this is going to go up 50 to $100,000 a year. So just sit there and hold on, sure you'll lose $1,500 a month, but don't worry about it. You'll make up for that every year. And obviously we're not seeing that's true. They could have really used your class about the five ways to get paid in real estate. And I think that that's what's doing it. And this is what builders do. I mean, everyone's in a business, and a lot of builders just focus on the largest margin. Now that's eating them up now, because those types of properties are not in demand. To build them on spec would be very dangerous, but you can see that that worked for a short term. We're very glad we went to the low margin workforce housing model, because I see that falling out of favor almost never even in Oh 809, Keith, when I was in the remodel game, a lot of the properties that were new construction coming out that time they were affordable, still did very well.   Keith Weinhold  24:42   We're talking with a premium Florida homebuilder today, because they offer affordable properties that make sense for investors. But what about the demand? Where is that going to come from? Where is that going to be? And that's what's happening with the renter segment. We'll talk more about that when we. Come back. You're listening to get rich Education. I'm your host. Keith Weinhold,   Keith Weinhold  25:03   flock homes helps you retire from real estate and landlording, whether it's one problem, property or your whole portfolio through a 721, exchange, deferring your capital gains tax and depreciation recapture, it's a strategy long used by the ultra wealthy. Now Mom and Pop landlords can 721, the residential real estate request your initial valuation, see if your properties qualify@flockhomes.com slash GRE, that's F, l, O, C, K, homes.com/gre.    Keith Weinhold  25:39   You know, most people think they're playing it safe with their liquid money, but they're actually losing savings accounts and bonds don't keep up when true inflation eats six or 7% of your wealth. Every single year, I invest my liquidity with FFI freedom family investments in their flagship program. Why fixed 10 to 12% returns have been predictable and paid quarterly. 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Start your prequel and even chat with President chailey Ridge personally, while it's on your mind, start at Ridge lending group.com that's Ridge lending group.com   Ken McElroy  27:26   this is Rich Dad advisor, Ken McElroy. Listen to get rich education with Keith whitehold, and don't twitch your Daydream.   Keith Weinhold  27:40   Welcome back to get rich Education. I'm your host. Keith Weinhold, we're talking with Jim a premium Florida homebuilder here at such an interesting time in the cycle, since supply is up in some parts of Florida, Jim and his team has strategically chosen a place that is still fueling a lot of net in migration in Central Florida, and that's where the rental demand needs to come from as well. Now nationally, we've seen the homeownership rate fall over about the past year, from near 66% to near 65% that does not sound like much, but a 1% shift means there are 1.3 million new renters in just the past year. So with that in mind, and the fact that this low affordability for home buying means that people need to rent or stay renters longer, provides some of the Sustainable demand. So tell us more about the rental demand in Central Florida.   Jim Sheils  28:39   Yeah, you know, when we first went out there about a decade ago, Keith, I think it was 82 or 83% of all properties out there were owner occupied, which means it was a very lopsided amount of existing rental property available. And this is before the curve of population growth really took off. But when Chris and I went out there and we were assessing that small percentage of rental property that was out there. Gosh, it was old and kind of beat up. There was not a lot like the new construction that was available. So when we brought in new construction, we saw just the competition. Was hard to compete with us. You know, when it was an older, not so nice taking care of we came in and we saw a jump from, you know, doing older houses ourselves, you know, a person would stay about 13 months. But for the new construction in Central Florida, we've seen a jump to about three years. So that's really positive. People get into a new construction property they don't want to leave, whether that's half of a duplex or a single family. The duplexes are interesting because we're able to build those on infill lots and existing single family home neighborhoods, so a person who doesn't want to live in an apartment can live there, have their own yard, and they couldn't afford the whole single family, but to have half of a single family basically what a duplex is. It makes a big difference, and the people are in great demand of rental in Central Florida there because of exactly why. I said, Keith, the job. Course, continues to grow in Central Florida, extremely strong. The business incentives to come into the area by the local municipality is very, very good. So here's something interesting, Keith, the average salary in Ocala is about 72,000 and the average home price is about 298,000 that is a very healthy affordability one. Yeah, very, very good. And so that job source continues to pay very well. And we've talked about just the logistics centers and the Equestrian Center. That's the largest in the world. Now the villages are just 25 miles south. So Ocala becomes a bedroom community, and that is the second largest retirement community and growing in the US. So there's a lot of job source that allows people to live there at a good affordability. And so that combination of affordability with this extending job source has been really, really good for the Ocala region.   Keith Weinhold  30:59   It's been said that the only place you get money is from other people, and we're talking about your renters in this case. So oftentimes these renters, they had their sense of privacy there, like, for example, do the duplexes even have fenced backyards for each individual side,   Jim Sheils  31:17   depending on where they are? We will. Other times it hasn't been a requirement. We've done lots of surveys to see is it worth the price point to put in full fencing in certain areas. It can be in a lot of areas. Keith, they're just so excited with the price point not having to move into an apartment building that it hasn't even been warranted or necessary.   Keith Weinhold  31:38   Yeah. So we're talking about livability characteristics here, because oftentimes new build rental property results in a higher tenant stay that longer duration, because they're the first person that have ever lived there, and it's also difficult for them to go out and improve their living situation unless they become a home buyer, and that's difficult to do today. Tell us more about the incentives and the property types and so on, because there really are some pretty exciting ones.    Jim Sheils  32:09   One of the best things about Central Florida, Keith, combined with new construction, is insurance costs. Now you and I have laughed about the blanketed statement where you said, oh my goodness, you cannot get insurance in Florida. You can't get property insurance in Florida, or it's doubled, tripled, gone up 7x that is a true statement on certain properties. If you're buying older properties from the 1950s that are within a half mile of the beach on low lying ground, but new construction properties far away from the beach, that is a totally different things. So again, being in Central Florida, where we are, a lot of people think, oh, to insure a single family home there, that's going to be several $100 a month, when actually, you know, and you've seen a lot of our performer quotes, our insurance companies are getting a single family home done for about $65 a month on average, full coverage. And that's the advantage of new construction. Insurance companies are all about risk. They analyze risk. When you're on a new construction property built on higher ground away from the beach, they like that, and they do that a duplex. You're looking at about $100 a month. So incentive wise, we've really searched to team up with great insurance companies that get the best rates full coverage. And again, we surprise people when they say, Oh man, I thought there would be a whole nother zero at that monthly cost. And these are actual quotes, as you know, with working with a lot of GRE people. So that's one great thing, another great thing, Keith, that happened when we joined forces with Sumitomo. And again, Sumitomo 320, years old, one of the biggest powerhouses out of Asia, Warren Buffett, is very heavily invested in another one of the conglomerates, not the housing one we do, but he's very involved in one of their other companies. And when they came aboard, you know, we have no bank debt for a builder, which is rare. And since we have such a healthy balance sheet, we're actually able to work deals with mortgage companies where we'll do what's called builder forward commitments, Keith, and that means we will pre buy mortgages for our clients, for the homes we're building, and we will pass that savings along. So right now, you know, if an investment property in a duplex might be an average of 7% for anyone who walks in off the street to a bank. Right now, our most popular rate program for our investors, for single family or duplexes, is 3.75 Gosh. So as you know, for your five ways, if we want to get cash flow, there's a big difference. Yeah, we're getting affordable housing. But if the rate is over 7% compared to 375 that could eat up the cash flow with us being able to have this power to buy large tranches of money and pass it along and lock our people in again, an average right now at 3.75 is our most popular program, and that's long term money, then we're able to get that cash flow right off the bat. And you and I know how important that is   Keith Weinhold  34:50    for this super attractive 3.75% long term mortgage rate on single family homes and duplexes. How? Much does the buyer have to come out of pocket at the closing table to buy that down themselves? And how much do you the builder participate in that buy down?   Jim Sheils  35:07   You know, it depends Keith at different times, because there is a little bit of a fluctuation. Sometimes it can be as low as zero points or just one origination point to bring it in. It does vary. And also, if people say, hey, I really don't want to bring in any points. Well, that's fine. You know, if you don't want to walk in zero to 2% points for that, you can also just raise your rate up to four and a quarter and probably walk in nothing. So there's different things that we can do, but the goal of it is to have us have the brunt of it. And what I can tell you is, if the average person walked into a bank, and a bank wouldn't do this anyway. It's only for, again, builders with a certain size, but if you went into a bank right now and said, I'd like to buy my rate down to 3.75 the average Keith that this would cost a person off the street going into a bank would be 12 to 15% banks wouldn't even do it for an individual. But that's about the estimates when you look at it. So again, volume has privileged. The fact we're able to buy it down. It does cost us a good amount of money, but we're all able to save since we're kind of working together to buy these larger tranches. And again, the need of any investment for buying down the rate from the clients is very minimal.   Keith Weinhold  36:18   Tell us more about the property types, new build single family homes, new build duplexes.   Jim Sheils  36:23   You know, single family and duplexes are our main focus in 2026 for Central Florida, we've done the research. They're very high in demand. They rent quickly, and they rent long term to produce cash flow. Our average single family home under 300,000 we're aiming to after expense, make about $300 cash flow. Our duplexes should be about twice that amount, about just under $600 a month, or just over in cash flow. And then again, the prices are ranging from about 395, to 420, for a duplex. Again, these are in workforce areas where we're doing great, scattered lots. Scattered lot means there's already existing homes around. We like to go to an area where there's good a fundamental balance of homeowners and renters. So there's retail buyers that have bought their first home, and we will place our rentals in between them, whether it's a single family or a duplex.   Keith Weinhold  37:13   We sure don't need to do a complete audio pro forma here, but those cash flow amounts something near $300 for a single family home, and about double that for a duplex. Is that using, you know, a bought down rate to about 4% and some of these other inputs you're talking about, like low insurance costs and a certain property tax rate, can you tell us about that?    Jim Sheils  37:35   Yeah, property tax rate is property tax rate. We can get pretty dang close on property taxes, you know, based on millage and get that down. But when we do our performers, we absolutely go off of, you know, our average rate to be the 375, to four and a quarter. And then when GRE clients look at our performer, and they look at the insurance cost, that's an actual quote from one of our insurance companies that has insured hundreds and hundreds of these properties. Not a guess, yeah, so they know what they're doing. So yeah, those would be the assumptions made in there, and that's what we're basically getting on a week in, week out basis.    Keith Weinhold  38:09   That is really attractive as we're talking about new build. I imagine there is some sort of builder warranty as well.    Jim Sheils  38:16   There's a state mandated 210 warranty. 210 warranty is something we could talk probably a whole episode on Keith. But for what's good for people to know, basically what that means, you get two years coverage on the small stuff and 10 years coverage on the big structural stuff. And so that's why I like new construction. You know what? I used to personally just buy my own fixer up Return key properties from other people. I could get a one year warranty, and that's the best that really can be done. Now with new construction, we've gone from, you know, with our fixer upper homes, able to do a one year warranty, which is good at something. But now with new construction, we can do a 210 warranty, big difference, and also really helps the safety score of issues if they came up.    Keith Weinhold  38:59   We were talking about new build property, and we tend to project relatively low maintenance and repair costs for an obvious reason, maybe your long term vacancy rate could very well be lower as well, due to my earlier point about a tenant wanting to stay there for a long time, because it's hard for them to improve their living situation unless they went out and bought their own place. And you have the low insurance rates, and you have the low mortgage rates, all contributing to positive cash flow on a new build property. And we think about that tenant and what gets the tenant excited? We start to think about some of those amenities. So tell us about what amenities are offered, including inside, in the kitchen and so on.   Jim Sheils  39:38   Jim, yeah, great question, Keith. We've really gotten a great recipe for success for that. You know, we've been doing this a little over a decade now, and so you're always tweaking your build model. What do people like? What do they not like? What's good for durability? Let's look at maintenance and repairs. Let's look at turn costs. So our goal is always the dual focus. That's what looks good. And what lasts really well, yeah, because you want durability. When you have tenants, you want it to look good, so you sell it down the road, 510, years to a first time homebuyer, it looks great. You can sell it. But durability wise, you don't want a lot of extra expenses or maintenance and repairs. So we go durability. So what we found a couple of things. I always joke about this. I do not like the word carpet, Keith, that is a terrible swear word in real estate investing, I can tell you right now, if I could go back and this is not, you know, owning hundreds of rentals, if I could not have done carpet and just reversed it to like vinyl plank flooring, like we do now, or even tile, which was more, I probably would have been able to buy three or four of our duplexes cash with the amount of money, and that is not an exaggeration. So we do not do carpet. First of all, it seems like trends are changing. It's not in favor right now. So we do vinyl plank flooring, which looks really nice, almost like wood floors, super durable, though, for a young family that's going to be tenant occupied in your property and running around on it. That's great. Kitchen wise, again, we don't sell retail really. We like to work with investors, but down the road, our investor might want to sell to a retail buyer. So we know, you know, from our old fix and flip days of the FHA buyers, the kitchen's got a pop. So we always do, you know, we don't do the white appliances, which you know would save you quite a bit of money, and save us quite a bit of money. We do stainless steel appliances. We do all new cabinetry, you know, kind of the latest, nicer cabinetry, a little bit of an upgrade. And then, you know, butcher block countertops, those are going to wear in about a year or two. Keith, it feels really good to spend that smaller amount, you know. But we, we like to do the more durable, nice looking countertops, you know, that are, you know, just so much more esthetically pleasing and actually durable as well. Same thing in the bathrooms. A lot of new builders will do shower kit, which not a problem if you're saving money on a rehab, you know, but we would rather do tile, bring in the extra subcontractors to give tile, and then in the master we do the dual sinks, which this might sound like little stuff, Keith, but these are the micro movements that help get a tenant in quicker, stay longer and more rent. So we're always trying to do these extra things in the granite countertops, both in the kitchens and in the bathrooms. Those cost more upfront, but we see for long term of tenant we see, for the amount of rent we get, and for resale ability, because a lot of people don't think about that. You know what? In seven years you want to sell one of these properties? Well, it's a seven year old roof, it's seven year old plumbing, you're still in a great spot for an FHA buyer. And that esthetically pleasing flooring, bathrooms, kitchens. That allows an easier sale for them, because we want to look all the way around, not just a rental. I like to hold long term, but if you want to sell in five to 10 years, that's a very valid strategy.    Keith Weinhold  42:48   I like carpet in my own home, but not rentals. But what you're sharing with us, Jim, this is absolute gold that's been brought to you through experience. This over improvement versus under improvement line in rentals, and it really has a lot of balance between durability and price. These are the sort of things that really matter, but you are selling predominantly to individual investors, a lot of mom and pop investors. Why don't you make more sales to the retail, owner occupied market, or to institutional investors, even though that might be cracked down upon now. But why don't you sell to those parties?   Jim Sheils  43:26   Yeah, you know Keith, I did a lot of fix and flip to FHA buyers, and I'm an investor. I really like working with investors. So when this all really went back to is 2009 I had a lot of investors. I was in Northeast Florida. The deal flow was incredible. And I just had a lot of investors, you know, through my different networks and Masterminds, like, where you and I have met, and said, Hey, you're getting great deals in Northeast Florida. Could you help put some together for me? And so I had done quite a few fix and flips to retail buyers, and it just kind of hot on me, you know, way back then, like, Wow. I like working with investors. I like building portfolios. I also like the fact that when I'm normally building a portfolio for an investor, well, they hang out with other investors, and they're not looking to buy one property over the next five years. They're looking to buy five to eight properties over the next five years. great point. And so we just saw it as you gotta like who you work with, right? And nothing against first time homebuyers. But when I was rehabbing houses and selling them, golly, that was a lot of work. And then could be persnickety. Yeah, very persnickety. And so when Chris and I teamed up about 10 years ago, we had both gone through the same kind of aha, like going, Yeah, it seems great, but you could sell for more to a retail buyer. But again, like I go back to even the type of property we build, we'd rather do a volume with investors. Be a builder, buy investors for investors, and work that way. And I think it suits me. I think I would have probably hung up my shoes a long time ago if I was. Working with the amount of properties we've done with retail buyers compared to investors, honestly, and so I think it was just kind of, it was a preference, really, that made sense   Keith Weinhold  45:09   to your point. Investors buy multiple properties, and that way there are fewer parties to deal with. And investors tend to be less emotional than those more persnickety, owner occupied buyers. Well, Jim, you make it easy for investors. Besides all these incentives, you also offer an in house management solution for these investors, often that tend to be out of state. Well, Jim, before I ask you, if you have any closing thoughts, would you the listener like to ask Jim any question directly? Well, you can, because I have a great event to tell you about next Thursday, the 19th, at 8pm eastern Jim here and GRE investment coach, Naresh will co host a live webinar for Central Florida new build income property. In fact, Jim, I think you know Naresh longer than I have, as it turns out, but this event is free, and you the listener are invited. We've had between 250 and 550 registrants for our past webinars. Not all of them attend live. So the benefit of you attending live is that you can have any of your questions answered by either Naresh or Jim in real time, and besides learning about the Central Florida market and more about home building, you are going to see available new build income property, real addresses with some of these rather grand incentives that we've talked about here, you might end up with a long term rate of about 4% again, it is Thursday, the 19th at 8pm Eastern. Sign up is open now at grewebinars.com that's grewebinars.com Any final thoughts here, Jim, for this great event coming up next week?   Jim Sheils  46:52   I think we're going to dig a little deeper. Obviously, this is a conversation that was great, but moves pretty quickly when we talk next week, we're going to be able to dig into more of the fundamentals, some of the stats, and just get underneath the hood of why Central Florida is making so much sense, and just some of the rising stars that we're seeing there that we're very excited to be a part of.   Keith Weinhold  47:13   You've helped our listeners for close to 10 years now. It's been an informative chat as always. Thanks so much for coming back onto the show.    Jim Sheils  47:21   Thanks for having me, Keith.   Keith Weinhold  47:27   Yeah, like our guest touched on Ocala, Florida now has national recognition as the fastest growing city in America, and that's for the second year in a row. According to a new U haul report, Florida is, of course, a rather landlord friendly state. In fact, Florida is the first state to enact a law that allows law enforcement to immediately remove squatters, distinguishing them from legal tenants. Now here's what's interesting and why I've identified this opportunity if Florida prices dipped because people were leaving now, that could be a red flag, because population loss is like gravity. Once it starts falling, it is hard to escape. But that's not what's happening. Instead, what we're seeing is a temporary overbuild hangover. Builders got ambitious. We're in a brief period where supply outran demand and prices softened. That's not decay. That's a sale rack. Any vacant homes are not stranded. They're being absorbed by Florida's still growing population, which has now increased every single decade since its first census count, back in the year 1830 back in 1830 there were about 35,000 residents in the whole state. Isn't that amazing today? North of 24 million, that is 700x population growth in almost 200 years, and it's still growing. That kind of trend doesn't reverse because a few builders over ordered inventory here at GRE this made us target and find in opportunity. This isn't an accident. Central Florida is this year's most compelling. Housing market in that region, Central Florida, is growing faster than the rest of the state at large, and it really sits in the sweet spot of this temporary imbalance. One long established builder overbuilt and now they're motivated. They know what investors want. So, for example, they don't build swimming pools with their homes. They also offer property tours, and over 90% of their tour attendees buy property. They're willing to offer terrific incentives at our upcoming GRE live webinar, like we touched on new build single family rentals, 270k and up duplexes, three. 95 to 420, long term mortgage rates as low as 3.75% you get low insurance rates since they're inland and new build positive cash flow and a builder warranty at the event. You're going to learn all about the growth drivers in Central Florida, why so many renters are moving there and see available properties. This benefits anyone looking for a clear, practical view of current real estate conditions. Joining live does matter, since you can have those questions answered in real time, not after the opportunity has moved on, you are invited for next Thursday, the 19th, at 8p m Eastern. This one is worth circling, not because it's flashy, because it's timed right. Sign up is open now @grewebinars.com that's gre webinars.com. Until next week. I'm your host. Keith Weinhold, don't quit your Daydream.   Speaker 5  51:00   Nothing on this show should be considered specific, personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC, exclusively.   Keith Weinhold  51:29   The preceding program was brought to you by your home for wealth, building, get richeducation.com