Podcast appearances and mentions of Warren Buffett

Czabe welcomes former FSR host and now head coach at UWGB to talk NBA Finals. The worst thing about going to Game 7 of the WCF in OKC, and a match-up he would consider if he's the Spurs against Brunson. Czabe also talks more about the seismic Miles Garrett trade and the AJ Brown deal that followed shortly afterward. Joy Reid remains a mindless idiot, Warren Buffett has some inconvenient truths about how good life in America these days really is. MORE.....Our Sponsors:* Check out Troll Co Clothing and use my code CZABE25 for a great deal: https://www.trollcoclothing.comAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

The US is in talks to expand nuclear weapons deployments in Europe, and Anthropic might make its powerful cyber security tool Mythos available outside the US and the UK. Plus, Iran suspended peace talks with Washington, and the FT's Oliver Barnes explains the significance of Berkshire Hathaway's first major acquisition since Warren Buffett's retirement. Mentioned in this podcast:US in talks to expand nuclear weapons deployments in EuropeAnthropic offers EU access to MythosEU pushes for ‘tech sovereignty' to cut reliance on USIran suspends peace talks and threatens ‘closure' of Strait of HormuzBerkshire buys homebuilder Taylor Morrison for $8.5bn in Abel's first big dealWant to get in touch? Email us at podcasts@ft.comNote: The FT does not use generative AI to voice its podcasts Today's FT News Briefing was produced by Katya Kumkova and Saffeya Ahmed. It was edited and hosted by Marc Filippino. Our show was mixed by Sam Giovinco. Additional help from Gavin Kallmann. Our intern is Cole van Miltenburg. Our executive producer is Topher Forhecz. The show's theme music is by Metaphor Music. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

The Giving Pledge—founded by Bill Gates, Melinda French Gates, and Warren Buffett—is facing growing backlash as several high-profile billionaires distance themselves from the initiative amid renewed scrutiny over Gates' past association with Jeffrey Epstein. Critics, including Peter Thiel, have mocked the pledge as “Epstein-adjacent,” arguing that Gates' ties to Epstein have tainted the philanthropic effort and damaged its credibility. Some prominent figures, such as Brian Armstrong, have already stepped away, while others have reportedly reconsidered their involvement, viewing the initiative as politically driven and increasingly controversial.Beyond the Epstein-related criticism, the pledge is also under fire for lacking accountability and enforcement, since participants are not legally required to follow through on their commitments and can delay donations for decades. Critics argue that much of the pledged wealth sits in foundations or donor-advised funds rather than reaching active charities, raising questions about the program's real-world impact. While defenders of the pledge point to its global reach and hundreds of signatories, even insiders—including Melinda French Gates—have acknowledged that progress has been uneven and has fallen short of initial expectations.to contact me:bobbycapucci@protonmail.comsource:Billionaires bolt from Bill Gates' scandal-scarred Giving Pledge as critics brand it 'Epstein-adjacent'Become a supporter of this podcast: https://www.spreaker.com/podcast/the-epstein-chronicles--5003294/support.

¿Estás preparado para lo que viene? Warren Buffett acaba de avisar: la bolsa puede caer un 50%. Y mientras el oro está en máximos, el petróleo se desploma y el FMI alerta de burbuja, el 90% de la gente perderá dinero sin ni siquiera enterarse.Hoy hablamos con Andrés de la pizarra de Andrés, economista y divulgador, uno de los mejores comunicadores financieros del momento. En esta entrevista aprenderás qué hacer con tu dinero si tienes 25, 40 o 55 años, si la inteligencia artificial es una oportunidad o la próxima estafa, por qué comprar una casa es mejor inversión que la bolsa para la mayoría, y cómo construir una cartera que te permita dormir tranquilo aunque los mercados se hundan un 30%.EL LIBRO de La Fórmula del éxito. Aqui lo puedes conseguir

El episodio 117 llegó con verdades incómodas y números que no se pueden creer.Arrancamos con Antonio Gracia, el inversor más silencioso y más importante de SpaceX. Fue el primero en poner plata cuando Elon lo necesitaba y nunca paró. Hoy tiene el 4% de la compañía. Si el IPO sale a 2 trillones, se lleva 100 billones solo en carry. El mayor retorno en dólares de cualquier inversor en la historia, hecho en silencio y sin ruido.Después viene algo que cualquier founder o inversor debería leer: la jerarquía del bullshit corporativo. Si una empresa tiene caja, te muestra caja. Si no, te muestra ganancias ajustadas. Si no, gross profit. Si no, revenue. Si no, GMV. Si no, usuarios activos. Si no, descargas. Y si no tiene nada de eso, te habla del mejor lugar para trabajar. Ahora ya sabés cómo leer entre líneas lo que te están diciendo.También hablamos de los exits que son mentira. La mayoría de los press releases de adquisiciones no significan que alguien ganó plata. Muchos son quick hires disfrazados, asset sales donde los inversores se fueron a cero, o simplemente ego de founder que necesita contar una historia. El exit real no necesita comunicado de prensa.Cerramos con tres historias que no te podés perder. Warren Buffett cerró una inversión de 5 billones en Goldman Sachs en 40 minutos, sin negociar, sin due diligence y sin abogados. Patrick Collison, co-founder de Stripe, se tomó una cerveza con un fan por su cumpleaños porque su novia le mandó un mail en frío y él respondió en tres minutos. Y la bolsa de Corea subió 203% en un año, con Micron pasando de 96 a 942 dólares, mientras todos miraban para otro lado.

This week's Excess Returns Weekly Wrap breaks down the best investing insights from Adam Parker, Robert Hagstrom, and Eric Crittenden. We discuss why the market may still be trading on fundamentals, why valuation alone can fail as a stock-picking tool, how modern portfolio theory changed investing, what business-driven investors can learn from Warren Buffett, and why trend following may work by providing liquidity to hedgers.Topics covered:Why the stock market may be looking through today's headlines to future earnings and AI-driven fundamentalsAdam Parker's argument that valuation does not work well as a standalone stock-picking signalWhy estimate revisions, earnings beats, and gross margin changes may matter more than cheap P/E ratiosRobert Hagstrom on Harry Markowitz, Benjamin Graham, and the debate over whether volatility is the same thing as riskHow modern portfolio theory shaped active management, index funds, and the way investors think about diversificationWarren Buffett's casino and cathedral metaphor for separating stock prices from business ownershipEric Crittenden on why hedgers may willingly lose money on trades to reduce business risk and lower cost of capitalWhy trend following may earn a risk premium by providing liquidity to hedgers in their moment of needHow systematic investors should think about tinkering with models during drawdownsRobert Hagstrom's story about Bill Ruane and the importance of finding the right clients and investorsTimestamps:00:00 Risk, valuation, and hedging in this week's best clips04:06 Adam Parker on why the market may still be trading on fundamentals08:49 Why cheap stocks are often cheap for a reason14:37 Robert Hagstrom on Harry Markowitz and the birth of modern portfolio theory18:50 How portfolio theory became the institutional language of investing22:27 Eric Crittenden on hedgers, cost of capital, and who is on the other side of the trade27:51 Adam Parker on why firm-wide market outlooks are so hard to get right33:53 Robert Hagstrom on Buffett's casino and cathedral metaphor39:16 Why gross margin change may be one of the most important stock-picking signals44:56 Eric Crittenden and Jason Buck on tinkering with systematic strategies49:00 Why trend following may work over the long term53:09 Robert Hagstrom on meeting Bill Ruane and learning which clients to avoid58:38 Why firing the wrong clients can strengthen an investment business

The Left's largest streamer just got subpoenaed for operating as a foreign agent for Cuba's communist regime. Is Hasan Piker about to go to prison?SPONSOR: Angel StudiosHe Calls Me Daughter explores the father wound so many women carry and how the love of a perfect Heavenly Father brings healing and worth. Join the Angel Guild to watch the film, get free tickets to major Angel releases, and help bring more faith-filled stories to life.Join the Angel Guild at https://www.angel.com/nick-----SPONSOR: Lear CapitalGold and silver are hitting all-time highs as money printing, market bubbles, and global unrest reshape the economy. Major players like Morgan Stanley are shifting into precious metals while Warren Buffett sells off big tech. Lear Capital helps you protect your wealth with up to $20,000 in bonus gold or silver on a qualified purchase.Call 800-707-4575 or visit https://www.Nick4Lear.com-----GET YOUR MERCH HERE: https://shop.nickjfreitas.com/BECOME A MEMBER OF THE IC: https://NickJFreitas.comInstagram: https://www.instagram.com/nickjfreitas/Facebook: https://www.facebook.com/NickFreitasVATwitter: https://twitter.com/NickJFreitasYouTube: https://www.youtube.com/@NickjfreitasTikTok: https://www.tiktok.com/@nickjfreitas3.0

Welcome to the What's Next! Podcast with Tiffani Bova. I'm thrilled to welcome you back to a series I did with my dear friend, Roger Martin. He's the author of the amazing book, Playing to Win. In this episode, we're rethinking Warren Buffett's "moat" metaphor for competitive advantage.   THIS EPISODE IS PERFECT FOR…leaders, entrepreneurs, strategists, and innovators who want to build a sustainable competitive advantage instead of competing in a race to the bottom.   TODAY'S MAIN MESSAGE…most companies think about competitive advantage as something static, or what Warren Buffett famously coined the "moat" that protects the business from competitors. But Roger argues that this metaphor falls short in this day and age and introduces a more dynamic way to think about strategy: moving through "rooms" ahead of competitors. Roger explores why the best companies stay curious, how customer observation leads to innovation, why benchmarking can actually hurt differentiation, and how asking different questions is often the foundation of breakthrough growth.   KEY TAKEAWAYS: Competitive advantage must evolve constantly, it can't stay static. Customer observation often reveals opportunities data alone misses. Benchmarking competitors too closely can limit innovation. Sustainable growth comes from continuously moving to the "next room."   WHAT I LOVE MOST…Roger's perspective that competitive advantage is about continually evolving faster than your competitors. His "rooms" metaphor is such a powerful way to visualize innovation, customer learning, and staying ahead by asking smarter questions over time.   Running Time: 30:44   Subscribe on iTunes     Find Tiffani Online: LinkedIn Facebook X    Find Roger Online: LinkedIn Website   Show Summary on Substack

Why do billionaires like Elon Musk, Jeff Bezos, Warren Buffett, and Mark Zuckerberg often pay lower tax rates than many employees?In this episode of the Know Your Numbers Podcast, Chris McCormack breaks down the legal tax strategies wealthy individuals use to build and protect their wealth and why ownership is the key to long-term financial success.Chris explains how billionaires generate wealth through stocks, businesses, real estate, and equity instead of relying solely on earned income. He also dives into capital gains taxes, leveraging equity, debt strategies, delayed gratification, and why the tax code rewards ownership and investing. If you've ever wondered how the wealthy legally reduce taxes while continuing to grow their net worth, this episode gives a practical and thought-provoking breakdown of how the system actually works.Whether you're building a business, investing in real estate, growing a stock portfolio, or simply trying to become more tax-efficient, this episode will help you understand how ownership can create long-term wealth and open the door to powerful tax advantages.Follow for more tax planning, investing, entrepreneurship, and wealth-building insights from the Know Your Numbers Podcast.••••••••••••••••••••••••••••••••••••••••••••➤➤➤ To become a client, schedule a call with our team➤➤ https://www.betterbooksaccounting.co/booking-calendar/better-books-consultation••••••••••••••••••••••••••••••••••••••••••••Connect with Better Books on Social MediaFacebook: https://www.facebook.com/betterbooksaccounting.coInstagram: https://www.instagram.com/betterbooksaccounting.co→ → → SUBSCRIBE TO BETTER BOOKS' YOUTUBE CHANNEL NOW ← ← ← https://www.youtube.com/@betterbooksaccountingThe Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.

Get our Wealth Guide (35+ insights from top investors): https://clickhubspot.com/fvif Episode 828: Shaan Puri ( https://x.com/ShaanVP ) and Sam Parr ( https://x.com/theSamParr ) talk to billionaire Joe Liemandt ( https://x.com/jliemandt ) about the experiment he's put $1,000,000,000 of his own money into. — Show Notes:  (0:00) Joe, the total man? (08:09) fighting bill gates for talent (13:14) intensity (16:18) choosing hard over easy (19:00) how to be a magnet (21:34) high standards (23:29) being persuasive  (29:23) simplicity: 3 ines, 3 words  (34:41) is 2x faster really better? (36:23) making kids run a 5k (38:45) why be public now (41:01) why put $1b into the lowest roi thing? (50:03) buying SaaS companies (51:06) cloning Warren Buffett's brain (53:00) changing your brain lift (57:19) is AI going to make everyone dumb? — Links: • Alpha School - https://alpha.school/  • 10 to 25: The Science of Motivating Young People - https://a.co/d/048Cfexh  — Check Out Sam's Stuff: • Hampton (joinhampton.com): My community for founders. Average member does $25m/year. Many of the guests are members. Get after it...apply: http://joinhampton.com/mfm — Check Out Shaan's Stuff: • Shaan's weekly email - https://www.shaanpuri.com  • Visit https://www.somewhere.com/mfm to hire worldwide talent like Shaan and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than US equivalents. • Mercury - Need a bank for your company? Go check out Mercury (mercury.com). Shaan uses it for all of his companies! Mercury is a financial technology company, not an FDIC-insured bank. Banking services provided by Choice Financial Group, Column, N.A., and Evolve Bank & Trust, Members FDIC • I run all my newsletters on Beehiiv and you should too + we're giving away $10k to our favorite newsletter, check it out: beehiiv.com/mfm-challenge My First Million is a HubSpot Original Podcast // Brought to you by HubSpot Media // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano /

A trend is happening and it's an encouraging one... Voters are starting to fight back, and they are targeting certain Republicans and rewarding others. What does this mean for our Country?SPONSOR: Alliance Defending FreedomAmerica is marking 250 years of freedom this year. Alliance Defending Freedom invites you to take five days to thank God for His blessings on our country and pray for strength and direction ahead. Sign up and you'll receive five daily prayer messages with specific prompts for how to pray for America.Sign up free, or text PRAY250 to 83848, at https://www.JoinADF.com/Nick-----SPONSOR: Lear CapitalGold and silver are hitting all-time highs as money printing, market bubbles, and global unrest reshape the economy. Major players like Morgan Stanley are shifting into precious metals while Warren Buffett sells off big tech. Lear Capital helps you protect your wealth with up to $20,000 in bonus gold or silver on a qualified purchase.Call 800-707-4575 or visit https://www.Nick4Lear.com-----GET YOUR MERCH HERE: https://shop.nickjfreitas.com/BECOME A MEMBER OF THE IC: https://NickJFreitas.comInstagram: https://www.instagram.com/nickjfreitas/Facebook: https://www.facebook.com/NickFreitasVATwitter: https://twitter.com/NickJFreitasYouTube: https://www.youtube.com/@NickjfreitasTikTok: https://www.tiktok.com/@nickjfreitas3.000:00:00 – Trump endorsements shake up Texas primary results00:02:27 – Incumbent John Cornyn defeated in historic primary00:05:18 – Why Texas voters rejected the Cornyn amnesty00:06:58 – Winning the fight through conservative primary participation00:08:06 – Exposing James Talarico and woke leftist theology00:14:05 – Why Hollywood money cannot save failing Democrats00:16:17 – Mocking the leftist caricature of everyday men00:22:49 – West Virginia voters reject DEI in primaries00:25:35 – Replacing weak Republicans with strong Conservative Leaders00:26:58 – Analyzing Thomas Massie and the Trump opposition00:31:18 – Prioritizing threats to save the American republic00:35:18 – Why Republicans are finally fighting back effectively00:41:47 – Exposing the radical leftist culture war roots00:44:14 – Winning peacefully through the political election process

For decades, Warren Buffett's annual letter to Berkshire Hathaway shareholders was the ultimate textbook for value investing. Packed with folksy wisdom, sharp market critiques, and fundamental business truths, it was considered mandatory reading for anyone serious about finance.But with Greg Abel officially taking the helm as CEO, the landscape has shifted. Is the letter still worth your time?This week Ross and Dan break down Greg Abel's first letter and whether it still deserves a spot on your reading pile.Send us Fan MailSend your questions for upcoming show to checkyourbalances@outlook.com @checkyourbalances on Instagram

In this episode of Investing Unscripted, Jason and Jeff are joined by longtime friend and investing educator Brian Stoffel. Brian shares his fascinating journey from a middle school writing teacher in Washington, D.C., to discovering Warren Buffett in Costa Rica, and eventually becoming a prominent writer for The Motley Fool. The trio dives deep into Brian's investing evolution—blending the extreme optimism of David Gardner with the anti-fragility of Nassim Taleb—and the painful valuation lessons learned during the 2022 bear market. They also tackle the burning question: "Will AI kill SaaS?", exploring the protective moats of high switching costs, physical world connections, and mission-critical proprietary data.  01:47 Dave Ramsey Story 04:00 From Teacher to Fool 07:25 Buffett Book and Costa Rica 11:56 Berkshire Meeting Takeaways 18:33 Evolving Investing Style 25:30 AI and SaaS Moats 29:15 SaaS Winners in Selloff 29:47 Shopify and Toast Moats 31:56 Physical World Edge 32:54 Proprietary vs Synthetic Data 34:23 Leadership and SaaS Evolution 36:17 Margins TAM and Volume 37:23 Compute Costs and Jevons 43:16 AI Everywhere Anecdotes 45:58 Investor Mindset Rules 47:32 Fads Position Sizing 52:33 Luck Skill and Plugs 56:51 Closing Thanks Disclaimer Check out Brian's work: https://www.stockinvestingmentor.com Companies mentioned: AMZN, AXON, CRM, CRWD, DDD, GOOG, GOOGL, NET, NFLX, NVDA, SHOP, SSYS, TOST, TTD Find where to listen & subscribe,  portfolio contests, and contact information at https://investingunscripted.com ***************************************** To get 15% off any paid plan at fiscal.ai, visit https://fiscal.ai/unscripted Listen to the Chit Chat Stocks Podcast for discussions on stocks, financial markets, super investors, and more. Follow the show on Spotify, Apple Podcasts, or YouTube ***************************************** Join our PatreonSubscribe to our portfolio on Savvy Trader Learn more about your ad choices. Visit megaphone.fm/adchoices

Porter Stansberry is the founder of Stansberry Research and the author of “2029: The End of America.” In this conversation, we discuss why Porter believes America is heading toward a great financial reset by 2029, the Social Security collapse, currency debasement, Warren Buffett's struggles over the last 20 years, and how to build a portfolio to survive what's coming — including gold, bitcoin, timberland, and his Honeycomb Portfolio strategy.======================Need liquidity without selling your crypto? Take out a Figure Crypto-Backed Loan, allowing you to borrow against your BTC, ETH, or SOL with 12-month terms, 8.91% interest rates, and no prepayment penalties. Or check out Democratized Prime (https://figuremarkets.co/pomp) and earn ~9% APY on real world assets, paid hourly. Unlock your crypto's potential today at Figure! https://figuremarkets.co/pomp Figure Lending LLC dba Figure (NMLS 1717824). Loans subject to approval. Crypto collateral may be liquidated. Terms apply - see full disclosures at figure.com/disclosures/======================Arch Public is an agentic trading platform that automates the buying and selling of your preferred crypto strategies. Sign up today at https://www.archpublic.com and start your automated trading strategy for free. No catch. No hidden fees. Just smarter trading.0:00 - Intro1:00 - What is the Fourth Turning?3:21 - Why 2029 is the year of the great reset9:57 - How past monetary resets happened (1933 & 1971)12:58 - Both parties grow government — there's no off ramp21:52 - Currency debasement & the real wage collapse35:50 - Is there any way to stop the crisis?42:53 - Warren Buffett's 20 years of mistakes51:43 - The permanent portfolio explained1:01:28 - How to price gold vs. bitcoin1:06:39 - Bitcoin's biggest mispricing in a decade1:10:16 - Why Timber belongs in your portfolio1:13:42 - Honeycomb portfolio strategy & closing

The Democratic Party's 2024 autopsy was just leaked and it's ugly. Polling shows the Democratic Party remains in shambles, even as some Democratic leaders seem to be shifting toward more moderate positions. Has the party learned any lessons from the last 10 years, or is this all a ruse?SPONSOR: Lear CapitalGold and silver are hitting all-time highs as money printing, market bubbles, and global unrest reshape the economy. Major players like Morgan Stanley are shifting into precious metals while Warren Buffett sells off big tech. Lear Capital helps you protect your wealth with up to $20,000 in bonus gold or silver on a qualified purchase.Call 800-707-4575 or visit https://www.Nick4Lear.com-----SPONSOR: American FinancingSummer expenses like vacations, gas, tuition, and camps are hitting families hard, and 20%+ credit card interest makes it worse. American Financing helps homeowners use their equity to roll high-interest debt into one manageable monthly payment, with no upfront fees and salary-based consultants (not commissioned salespeople).NMLS 182334, nmlsconsumeraccess.org. APR for rates in the 5s start at 6.327% for well qualified borrowers. Call 866-886-2026 for details about credit costs and terms. Average savings based on borrowers who save over $199.99.Call 866-886-2026 or visit https://www.AmericanFinancing.net/MTA-----SPONSOR: Alliance Defending FreedomAmerica is marking 250 years of freedom this year. Alliance Defending Freedom invites you to take five days to thank God for His blessings on our country and pray for strength and direction ahead. Sign up and you'll receive five daily prayer messages with specific prompts for how to pray for America.Sign up free, or text PRAY250 to 83848, at https://www.JoinADF.com/Nick-----GET YOUR MERCH HERE: https://shop.nickjfreitas.com/BECOME A MEMBER OF THE IC: https://NickJFreitas.comInstagram: https://www.instagram.com/nickjfreitas/Facebook: https://www.facebook.com/NickFreitasVATwitter: https://twitter.com/NickJFreitasYouTube: https://www.youtube.com/@NickjfreitasTikTok: https://www.tiktok.com/@nickjfreitas3.000:00:00 – Analyzing the leaked Democratic 2024 autopsy report00:03:16 – Why Democrats struggle with working class voters00:08:15 – Feminist activists leading Democratic outreach to men00:13:31 – Kamala Harris supports taxpayer funded trans surgeries00:17:18 – Why Democratic principles ignore flyover country voters00:20:43 – Debunking the Democrat narrative on MAGA extremists00:25:46 – Exposing the Biden administration border security failures00:31:50 – The massive disconnect between activists and voters00:35:12 – Defining the difference between equality and equity00:38:13 – Marxist origins of modern anti family ideology00:45:34 – Identifying the 2028 Democratic presidential primary frontrunners00:52:07 – Can Republicans win over disillusioned centrist voters00:59:46 – How Democrats use affordability to hide radicalism01:05:09 – Analyzing AOC and the future of 202801:10:46 – The threat of court packing and filibuster

I'm thrilled to share some timeless leadership and investing wisdom from my latest Capitalist Culture® podcast episode with Robert Miles, internationally recognized author and expert on Warren Buffett's leadership philosophy and the decentralized culture of Berkshire Hathaway.This is our second-anniversary episode of the show, and it could not be more fitting to celebrate with a conversation centered on long-term thinking, enduring leadership, and building businesses that stand the test of time.Here are the highlights you will not want to miss:Robert's Journey:• Discovering Warren Buffett: Robert first became fascinated with Buffett and Berkshire Hathaway in 1995, beginning a decades-long journey studying Buffett's leadership and investment principles. • From Blog Post to Global Authority: What started as a simple article eventually led to bestselling books, university courses, and direct endorsement from Warren Buffett himself. The Berkshire Hathaway Difference• Long-Term Thinking Wins: Berkshire CEOs often stay in place for 25 years or more, compared to the typical 5 to 6 year corporate cycle. • Decentralized Leadership: Buffett empowers leaders to run their businesses independently without constant oversight or bureaucracy. • Trust Over Micromanagement: Berkshire's culture is built on autonomy, accountability, and integrity.Leadership Lessons from Buffett• Integrity, Intelligence, and Energy: Robert explained Buffett's belief that great leaders combine all three qualities. • Purpose Over Money: The best Berkshire leaders genuinely love what they do and are driven by mission, not compensation. • Treat Shareholders Like Partners: Buffett's communication style reflects transparency and long-term alignment.Private Equity vs Berkshire Philosophy• The Problem with Short-Termism: Robert argued that much of private equity focuses too heavily on flipping companies quickly. • Berkshire's Approach: Instead of financial engineering, Berkshire focuses on durable businesses with strong cultures and long-term growth potential.What Makes Great Businesses Endure• Durable Competitive Advantages: Buffett looks for “moats” that protect businesses from competitors over time. • Strong Culture Matters: Enduring companies consistently invest in employees, customers, and long-term trust. • Avoid Excessive Debt: Financial discipline remains one of Buffett's core principles.Succession and Scaling Leadership• Greg Abel's Role: Robert discussed Berkshire's leadership transition and how Greg Abel represents a new generation of stewardship. • Founder Evolution: Entrepreneurs eventually need to transition leadership to family members or professional operators to continue scaling effectively.Lessons for Entrepreneurs and Investors• Think Like an Owner: Buffett encourages founders to treat their business as if it were their only investment. • Compounding Changes Everything: Small advantages sustained over long periods create extraordinary outcomes. • Culture Is the Ultimate Advantage: Great businesses are built on trust, loyalty, and consistent leadership.Final Thoughts• Long-Termism Is Rare: In a world obsessed with quarterly results, Berkshire Hathaway remains a model of patience and discipline. • Leadership Is Stewardship: The best leaders build organizations that thrive beyond themselves. • Success Is Freedom: Robert defines success as the ability to spend time doing meaningful work with people you value.I hope these insights inspire you to listen to the full episode. There is so much more depth in this conversation around Warren Buffett, Berkshire Hathaway, leadership, and building organizations that endure across generations.P.S. Be sure to subscribe to Capitalist Culture® for more conversations with world-class investors, founders, and leaders shaping the future of business and culture.Send us Fan MailConnect with Kip on LinkedInhttps://www.linkedin.com/in/kipknippel/Watch Bite-Sized Clips on YouTubehttps://www.youtube.com/@capitalistculture/shorts

Looking for a way to protect your principal, skip the fees, and simply live off the interest? In this episode, Stan breaks down "peel and play" annuities and shows how multi-year guarantee annuities (MIGAs) offer simple, contractual returns without the complexity or risk of market-based products.    In this episode, The Annuity Man discussed:  Peel and play annuities concept and misconceptions How multi-year guarantee annuities (MIGAs) work Tax deferral advantages vs. CDs Building and managing a MIGA ladder strategy MIGAs for risk management and legacy planning   Key Takeaways:  Not all annuities are designed for lifetime income; some are built specifically for principal protection and simple interest withdrawal. Multi-year guarantee annuities function similarly to CDs but are issued by life insurance companies and offer guaranteed, contractual yields. Using MIGAs in non-qualified accounts allows interest to grow tax deferred and be rolled from contract to contract, effectively pushing the tax bill into the future. A laddered MIGA strategy can provide steady, predictable interest while keeping the original principal intact and available for future decisions. When the goal is "don't lose money" and "keep it simple," guaranteed products like MIGAs may be more aligned than complex, hypothetical, or bonus-driven indexed annuities.   "Warren Buffett had two rules. Rule number one: never lose money. Rule number two, never forget rule number one, he would love peel and play annuities." —  Stan The Annuity Man   Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator! 

Get Mohnish's 9 investment principles: https://clickhubspot.com/kwdo Episode 827: Shaan Puri ( https://x.com/ShaanVP ) sits down with Mohnish Pabrai to break down the mental models that made him a billionaire value investor.   — Show Notes:  (0:00) Intro (1:25) Mental models of the top 1% (3:38) The mistress is always hotter than the wife (6:37) Introduce Randomness in your life (10:47)  Humans are poor at copying (20:13) Take a simple idea seriously  (23:02)  Be and inch wide and a mile deep (30:29)  Never use Excel (35:03) Wait for fat pitches (39:38) the stock market is like a church with a casino  (44:01) Paying $650,000 to have lunch with Warren Buffett (45:43) The cautionary tale of Rick Guerin (47:22) The inner score card (49:25) The future of Berkshire Hathaway (51:29) Mohnish's best investment (1:02:39) The hardest question (1:06:16) How to beat the index (1:11:25) Mohnish's stock picks for 2026  (1:22:26)  S&P 500 (1:24:57) life advice disguised as investing advice (1:29:32)  Studying the greatest investors  (1:37:51) if you remember nothing else, remember this  — Links: Mohnish Part 1: This Guy Copy-Pasted Warren Buffett's Strategy (And Became A Billionaire) Mohnish Part 2: Go from $10,000 to $1M in just 3 years  The Dhando Investor - https://a.co/d/0hkx1t8g  — Check Out Sam's Stuff: • Hampton (joinhampton.com): My community for founders. Average member does $25m/year. Many of the guests are members. Get after it...apply: http://joinhampton.com/mfm — Check Out Shaan's Stuff: • Shaan's weekly email - https://www.shaanpuri.com  • Visit https://www.somewhere.com/mfm to hire worldwide talent like Shaan and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than US equivalents. • Mercury - Need a bank for your company? Go check out Mercury (mercury.com). Shaan uses it for all of his companies! Mercury is a financial technology company, not an FDIC-insured bank. Banking services provided by Choice Financial Group, Column, N.A., and Evolve Bank & Trust, Members FDIC • I run all my newsletters on Beehiiv and you should too + we're giving away $10k to our favorite newsletter, check it out: beehiiv.com/mfm-challenge My First Million is a HubSpot Original Podcast // Brought to you by HubSpot Media // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano /

The most sophisticated leaders in the room often produce the most complicated work, and it's costing them. Darren Hardy exposes what he calls Complexity Addiction: the unconscious belief that makes smart people equate intricate solutions with valuable ones. It's a trap that quietly undermines clarity, accountability, and results. This episode dives into why brilliant people get seduced by complexity, and where that instinct actually comes from.  Steve Jobs and Warren Buffett both built their success around the same counterintuitive principle, and Darren draws the direct line between their approach and the frameworks anyone can apply right now. The skill this episode teaches isn't complex. That's the point. Get more personal mentoring from Darren each day. Go to DarrenDaily at http://darrendaily.com/join to learn more.

While in Omaha for Berkshire week, Meb hopped on another podcast as a guest. It was a fun one, so we're releasing it here as well. In today's episode, Meb Faber makes the case against home country bias, pointing to Korea's near-triple and Japan's decades-long round trip as reminders that cycles always turn. He explains why shareholder yield tells a truer story than dividends, why there are now more ETFs than stocks, and why tax alpha matters more than chasing returns. To close, Meb reflects on multi-decade compounding — and the mistakes that quietly take investors out of the game. (0:00) Starts (2:06) Meb's thoughts on Warren Buffett (5:11) Global diversification and home country bias (14:29) Shareholder yield (27:45) Positive investment behaviors (30:19) The ETF industry and the current investment landscape (35:18) Rapid fire questions ----- Sponsor: Want to learn more about 351 Exchanges? Visit the Alpha Architect 351 Education Center for use cases, tools, FAQs, upcoming launches, and more. Investments in securities entail risks, including possible loss of principal and are not suitable for all investors. ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

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Zohran Mamdani stood in front of cameras and said he closed a $12 billion deficit without raising taxes on working New Yorkers. The only problem? It's not true. Not even close. And I'm going to walk you through every single trick — one by one — so you can see exactly how socialism fakes success before it destroys everythingSPONSOR: Lear CapitalGold and silver are at all-time highs, and major institutions like Morgan Stanley are shifting into precious metals while Warren Buffett trims big tech. Lear Capital helps everyday Americans diversify into gold and silver with a free information kit and bonus metals on qualified purchases. Call 800-707-4575 or visit https://www.Nick4Lear.com ----- We want to hear directly from Making the Argument listeners about what's landing, what isn't, and what would make every episode worth your time. The survey is short and shapes what we make next. Take the listener survey at https://9dqcnvmshr.zite.so ----- GET YOUR MERCH HERE: https://shop.nickjfreitas.com/ BECOME A MEMBER OF THE IC: https://NickJFreitas.com Instagram: https://www.instagram.com/nickjfreitas/ Facebook: https://www.facebook.com/NickFreitasVA Twitter: https://twitter.com/NickJFreitas YouTube: https://www.youtube.com/@Nickjfreitas TikTok: https://www.tiktok.com/@nickjfreitas3.0

Jason advocates for direct real estate investment as the most effective vehicle for building long-term wealth. He describes income property as a perpetual money machine due to its unique ability to fund additional acquisitions through its own earnings. While acknowledging the common frustrations associated with property management, he argues that even a mediocre manager is less damaging to a portfolio than the hidden fees found in Wall Street investments. He strongly encourages listeners to take control of their assets through self-management or by using specific software tools to analyze property math. Ultimately, he asserts that real estate remains the most tax-advantaged and historically proven asset class available to the public. Book a FREE Investment Counseling session: call 1-800- HARTMAN ext. 2 Be an Empowered Investor PRO https://www.empoweredinvestor.com/  https://www.empoweredinvestor.com/ Join a community of income property investors laden with high-level knowledge of investing's best practices. Experience is the best teacher in life and we have some of the most experienced income property investors in the game.    Key Takeaways: Jason's editorial  0:00 Property managers and why income property beats all others 11:42 Other industries to complain about 13:31 Join our MASTERCLASS every second Wednesday of every month https://jasonhartman.com/Wednesday Get a FREE account https://propertytracker.com/ Empowered Investor Wednesday Masterclass part 2 15:12 The Perpetual Money Machine 34:51 Warren Buffet comments on real estate 38:53 Back to the Perpetual Motion Machine ... 46:57 A word from our investment counselors   #PerpetualMoneyMachine #EmpoweredInvestor #IncomeProperty #RealEstateInvesting #SelfManagement #DirectInvesting #PropertyManagement #WealthBuilding #MultiDimensionalAssets #FinancialFreedom #Disintermediation #AssetClass #PropertyTracker #RealEstateStrategy #InvestmentCounseling  _______________________________________________________________ Follow Jason on TWITTER, INSTAGRAM & LINKEDIN Twitter.com/JasonHartmanROI Instagram.com/jasonhartman1/ Linkedin.com/in/jasonhartmaninvestor/ Call our Investment Counselors at: 1-800-HARTMAN (US) or visit: https://www.jasonhartman.com/ Free Class:  Easily get up to $250,000 in funding for real estate, business or anything else: http://JasonHartman.com/Fund CYA Protect Your Assets, Save Taxes & Estate Planning: http://JasonHartman.com/Protect Get wholesale real estate deals for investment or build a great business – Free Course: https://www.jasonhartman.com/deals Special Offer from Ron LeGrand: https://JasonHartman.com/Ron Free Mini-Book on Pandemic Investing: https://www.PandemicInvesting.com

What is Warren Buffett’s latest purchase? Is it a market signal? Market View explores Berkshire Hathaway’s latest portfolio reshuffle, Elon Musk’s courtroom loss against OpenAI, and why analysts suddenly see StarHub as the possible winner after the Simba-M1 merger stalled. Michelle Martin unpacks whether rising bond yields are becoming a hidden threat to markets, why AI infrastructure bottlenecks are hitting chip stocks , and what the public clash inside Lululemon Athletica reveals about founder power. Plus - why strong numbers from Lendlease Global Commercial REIT could matter for retail property investors.See omnystudio.com/listener for privacy information.

The BOB & TOM Show – May 18, 2026 6:00 AM Hour• Greg Hahn jokes• Chick out – Jeff in• Letter: how to get rid of fishy smell on hands• Letter: painted car to avoid repossession• Song: “Deny Deny Deny” – Pat• Letter: listener buys all his wife's underwear• “Man from U.N.C.L.E.” theme discussion• Claudine Longet discussion• Jeff jokes about having “so many chins under this beard”• Letter: listener saw a solar-powered plane land years ago• Sports 7:00 AM Hour• Man paid $9 million to have lunch with Steph Curry and Warren Buffett• 90-year-old rides the “Vomit Comet”• Chick had a box as a friend named Wilson• “Survivor” contestant lost half his leg• Artificial intelligence used for visuals in a 1970s John Lennon interview• Southwest Airlines banned robots on flights• “60,000 Bees” – Pat Godwin• “Fly's Eyes” – Heywood Banks• Tom played “Bob's Circus” after Jeff's circus joke bombed• “Bob Circus” 8:00 AM Hour• Jess joins in studio• Guest books for guest bathrooms• Biblical diet discussion• “Ice Cream Toppin's”• Tom refuses to eat mustard• “Goose-B-Gone” – Pat• Tom's TV issues• Today in History 9:00 AM Hour• Tom's graduation party and “Are you rappers?” story• Werther's Originals discussion with Jeff and his daughter• Whale death story• $30,000 found in a fanny pack at a convenience store• Self-driving vehicle issues• Artificial intelligence discussion• Office jargon• Cart machine discussion Learn more about your ad choices. Visit podcastchoices.com/adchoices

How can you supercharge your creativity in an age when AI is reshaping everything — including how we write, edit, and market our books? What does it look like to use AI as a genuine creative partner rather than a shortcut? And could professional speaking become an income stream that complements your writing career? With James Taylor. In the intro, Audible's new royalty model; New royalty model details [ACX; Kindlepreneur]; Public Speaking for Authors, Creatives and other Introverts; Why Indie Authors Should Ignore the Market's Mood and Focus on their Mission [Self-Publishing with ALLi]; Lichfield Cathedral; This podcast is sponsored by Kobo Writing Life, which helps authors self-publish and reach readers in global markets through the Kobo eco-system. You can also subscribe to the Kobo Writing Life podcast for interviews with successful indie authors. This show is also supported by my Patrons. Join my Community at Patreon.com/thecreativepenn James Taylor is a nonfiction author, professional speaker, podcaster, and entrepreneur who helps people unlock their creative potential. He hosts the SuperCreativity Podcast and his latest book is SuperCreativity: Augmenting Human Creativity in the Age of Artificial Intelligence. You can listen above or on your favorite podcast app or read the notes and links below. Here are the highlights and the full transcript is below. Show Notes How to define creativity and why it's becoming the most valuable skill in the age of AI The five stages of the creative process — and the stage most people skip Three types of creative purpose: play, self-expression, and legacy How James used multiple AI tools alongside human collaborators to write, edit, and market SuperCreativity Bulk book sales, industry-specific editions, and revenue models for nonfiction author-speakers Practical tips for authors who want to break into professional keynote speaking You can find James at JamesTaylor.me. Transcript of the interview with James Taylor Jo: James Taylor is a nonfiction author, professional speaker, podcaster, and entrepreneur who helps people unlock their creative potential. He hosts the SuperCreativity Podcast and his latest book is SuperCreativity: Augmenting Human Creativity in the Age of Artificial Intelligence. Welcome to the show, James. James: Well, thank you for having me as a guest. I'm looking forward to this conversation today. Jo: It's going to be really good. First up— Tell us a bit more about you and how you got into writing and publishing. James: Well, today I'm a professional keynote speaker, so I deliver about fifty to a hundred keynotes per year in twenty-five-plus countries. Primarily I speak on creativity, innovation, and artificial intelligence. Go back into my deepest, darkest history—I actually used to manage rock stars. That was my old job. I used to be in the music industry for many, many years. I worked with members of The Rolling Stones, and for our listeners in the UK, I managed bands like Deacon Blue. Then I went to the dark side. In 2010, I moved to California to work in Silicon Valley, to work in the world of tech. That got me involved in artificial intelligence. Right about 2017, I was speaking at an event in San Francisco and someone came up to me and said, “You realise you could probably speak for a living, you could do this for a living.” So I thought, well, how does that work? And he told me. Then I embarked on the career that I have today, which is primarily as a speaker, with writing now coming a bit more to the fore. Jo: Wow, I remember Deacon Blue. James: Yes. Jo: “Dignity.” That's crazy. Very, very cool backstory there, but we'll come back to the career side of things. Let's get into super creativity, because my listeners are certainly creatives. Most of the listeners will have a book either on the way or they might even have lots of books. So we all do want to be super creative. How do you define creativity, and why is it important to keep focusing on this even if we do identify that way? James: For me, creativity is about bringing new ideas to the mind. Innovation is about bringing new ideas to the world, but without creativity, there is no innovation. So creativity is really the engine of innovation. Whether that is designing new products, new services, or creating new works of art and new books. The reason that creativity is becoming more important is because of what we're seeing right now in terms of artificial intelligence. AI is going to replace a lot of the non-creative tasks that we currently do in our jobs. If you look at things like the World Economic Forum, there was recently a study with a thousand global business leaders, and work from companies like LinkedIn—they all highlight that creativity is going to be one of the foremost important soft skills for this new future. So creativity, strangely, will actually become more important, not less important, as we go ahead. That's the creativity side. Probably for many of the listeners here, they'll consider themselves to be creative. That is not the norm. As I mentioned, I speak in about twenty-five countries a year, and if I ask the audiences—primarily corporate audiences—to put their hands up if they consider themselves to be creative, only between ten to forty per cent of the audience will raise their hands. So part of my job is to show them why they are more creative than they think they are and why we're all born with this creative potential. Then moving into the super creativity side, it's really to show them how they can augment that creativity by collaborating more deeply with other people or machines—things like artificial intelligence. So SuperCreativity, the book that I've written and the speeches I give on it, is really about how we can augment our individual creativity by collaborating more deeply with other people or artificial intelligence. For me, that's been the thing I've been fascinated by for the past few years, and probably for many of our listeners who are now using AI in their writing, their researching, and their marketing of their books, they're probably getting into this space as well. I really wanted to dive into that—both the collaboration with other people and with machines and AI. Jo: In terms of the super creativity then, do you have any practices or ideas? Before we get into collaboration, many of us authors work alone—and of course we can come back to the AI stuff in a minute—but in terms of super creativity, are there ways that we can even supercharge what we do already? Then, of course there are people listening who might not feel creative. So give us a few tips on how we can potentially change our mindset or become even more creative. James: In the book I talk about what I call the eight Ps of super creativity, which are purpose, personality, practice, people, process, place, product, and persuasion. Persuasion is really the marketing piece at the end. Probably the one that could be most useful to many listeners today is the practice piece—the practice or the process side of things. For many of us, what that usually consists of is just having some type of daily creative practice. Different people do it in different ways. Many of your listeners will know the works of people like Julia Cameron—the morning pages style of having some type of daily practice. Other people do it in slightly different ways. The process bit is really interesting. I talk about this creative process that we all have, and I talk about these five stages of the creative process. The first stage, let's say if we're writing a book, is really that preparation stage. That is usually the stage where we are trying to absorb as much information as possible about the thing that we're going to be writing about. The topic, if it's nonfiction, or going to the places, visiting the scenes that we're going to set certain things within for the book. So that preparation stage is really about absorbing as much information as possible from the outside. It's not going to look very creative. We're just absorbing at that stage. Now the mistake that a lot of people tend to make is they immediately try to jump from that preparation stage to looking to generate ideas. But what all the studies show us is we should spend a little bit of time in what we call the incubation stage. This is where it's often very useful if we've done some research, that we put things to one side for a little while, maybe a few weeks, move on to another project, think about something completely different. Your brain will continue to work in the background. Your unconscious brain will work on that content you've been absorbing. Then what often happens as a result of that is we come to this third stage, which is that insight stage—that aha moment. That happens for various different reasons and you can seed that in slightly different ways so you're more likely to get inspiration in your day-to-day work. Then as we know—as you are a writer of many, many books—many people think, “Well, that's it. I've done it. The idea for that book or that chapter has come to me.” That is really just the first five per cent of the process. The next stage is where we look at all the different ideas we have and decide which ones we want to pursue, which ones are going to make the grade. This is what we call the evaluation stage. Once we've done that, we move to that final stage, which is the elaboration stage. If it's a startup, this is when you're building your minimum viable product. As a writer, this is where you're actually doing the work, putting those words out onto the page. It's a very iterative process, so it's not necessarily linear. You'll go back and forth. Even as you're getting input from readers and audiences in that last stage, that is then giving you the material to move back to the preparation stage and think, “Oh, I wonder if this next book in this series, maybe I go in a slightly different direction with this character.” So each of those different stages, you can do different things to increase your levels of creativity. Jo: I love all of that, but can we go back to purpose? Because you mentioned that as one of the Ps and I think this is something that a lot of us need. As we are recording this in April 2026, the world is an interesting place. There are lots of things going on that have people worried. Well, we are not talking about politics, but I think one of the things that people struggle with is, what's the point in writing this story, for example, or what's the point in trying to get my words out there when things are difficult? I feel like coming back to purpose is perhaps the thing that helps people even take it into the process as you were talking about. And then of course, just from a practical angle— Is purpose about making money or reaching people? So maybe you could talk about the purpose side of things. James: Yes. So I talk about three different purposes, and it's not that there's just one that predominates, but usually there's one that maybe predominates on different projects. The first one is creativity as play. It's what we're basically, as humans, hardwired to do—this instinctive joy that we get just for creating for its own sake. There's nothing that really sits beyond that. We just have fun. We find pleasure in creating something. That could be a musician creating a piece of music, a sculptor creating a sculpture, an entrepreneur creating a new business or product or service. There's just this sense of play. One of the things I talk about in the book is this idea of being childlike, not childish. If you look at children, you see this very instinctively. If you see a three-year-old or a five-year-old, you give them some crayons and they will just naturally create. That's part of who they are and it's pretty abstract. Then what happens is they go to school and they're taught useful conventions—”this is how you should do it.” You even see their work start to change. You start to see them move from abstract paintings to more formal structures. Then you get your peer group, then you go to college or university and the world of work, and you're taught all these useful conventions. That's fine, but as adults, it is our responsibility to become what we call post-conventional, where we see these conventions as a useful signpost but we're willing to challenge them. We're willing to have a playfulness in what we do. So the first one is just this hardwired thing—creativity as play. The second one, and this is maybe for a lot of your listeners the reason that they are writers, is self-expression. It's a way of placing something out into the world. I was actually just in France recently, and I was talking to a young visual artist, a painter from Hungary, and she had to go up and give a speech. She really hated doing it. She was having to talk about her work and she was really uncomfortable. I could see the discomfort and my heart went out for her, because that is not the way she primarily expresses herself. She expresses herself through her art form, which is painting. For many of us, we might struggle to get on a stage, but we can express ourselves in the written word. We have something we want to say, a position we want to have, and we want to express that and get that out into the world. The final one is just this idea of legacy. That is not going to be for everyone. I can tell you, for me personally, legacy is not the reason that I write and do a lot of the stuff that I do. Maybe that changes—maybe as we get a bit older, we want to leave a body of work. So those are the three main purposes that we tend to see. Then you mentioned the financial side of what we do as well. This starts to come into that self-expression, because we need to be able to get people to buy our books or download our books and read our books in order to give us the ability to write new works and create new things. The financial side is an important component of it, but it is not the only one. I think there's a great question any writer should ask themselves. One of the first questions that I asked myself as a relatively new nonfiction writer is: why am I writing this book? What is the purpose of this book? For me, primarily it is a form of self-expression, and then you have to go, “Well, that's fine, but I also need it to have some type of financial basis for it.” It doesn't need to be the main driver of my income, but I need to have some type of revenue model. I'm happy to talk about revenue models, because probably the type of revenue model that I have as a writer is going to be different from other listeners. I tend to focus more on bulk selling of books rather than individual selling of books. Jo: Yes, I definitely want to come back to revenue models and business, but a few other things first. I want to circle back to collaboration, because I've certainly co-written with some humans, and I know a lot of listeners either have co-written or collaborated with other humans—and some of it works and some of it doesn't. You have some great information on human-plus-human creativity and collaboration. So maybe you could give us some tips on how we can be more effective collaborators with other humans. James: So there's a whole section about this idea of creative pairs. Often if you look at great creative work or innovative companies, very often when you strip it all back, you'll find at the core lots and lots of creative pairings. That is usually two different but complementary personalities who are willing to develop and challenge and improve each other's ideas. We think of Jobs and Wozniak in the world of business, or Warren Buffett and Charlie Munger. For authors, often that relationship is the work with their editor. There was a documentary I saw—I think it was a New Yorker documentary that came out a while ago—talking with a writer of history books about his relationship with his editor. It was a really beautiful relationship. These were two very different personalities, but what worked was the fact that they were different. A core component of having these creative pairings is a sense of trust—or what some people today would call psychological safety—that you are willing to challenge someone's ideas, but in a space of trust. The Germans have a great phrase for it. In English it translates as “someone to steal horses with,” which I love. Hopefully our listeners have that person where you can go to them and say, “I had this idea for a book or a chapter or a character,” and that person is a “yes, and.” Like, “Yes, and have you thought about doing it this way?” or “What would happen if you did this?” They stress test your ideas. They make your ideas better. For many of us, maybe it's our husbands or wives, our partners. Some of us are lucky enough to have editors. When I started rewriting this latest book, I actually had someone like that—a human, not an AI—that I worked with, especially on taking all these random thoughts and ideas I've been expressing in keynotes and putting them into more of a book form. The format and the structures that we use for telling stories in a speech are quite different from the structure that we would use for a nonfiction book. I didn't have as much experience there, so I wanted someone who could say, “Have you thought about structuring it this way?” or “This is a great story arc you might want to think about.” So I don't know, for you, who is your creative pairing? Who is your “someone to steal horses with”? Jo: Well, it's funny. I really think since the arrival of Claude Opus 4.6, it is absolutely Claude. James: Yes, yes. Jo: All the way. I mean, so we could come onto that next in terms of how AI has changed, because I do still work with a professional editor for both fiction and nonfiction, but it is very much in the “make my finished work better” stage. It is not in the exploratory phase. I find particularly the latest reasoning models to just be fantastic at this. And my Claude is not sycophantic. The Opus 4.6—I'm sure you've been using it too—it just doesn't behave in the way that a lot of people think these AIs did. They did behave like that, and now it's changed. So let's talk about that. What are your thoughts on collaborating more effectively with AI tools, especially as they become more and more powerful? As we record this, Claude Mythos has not come out, but it's certainly rumoured to arrive. I'm pretty excited. James: So because I've been doing this AI thing for a little while, it's given me the ability to experiment with things—the early versions of what many people are using today. I'll give you an example. Even before I started writing the book, I decided to write a book proposal. Even though I could pretty much sense I wanted to independently publish this book through my own publishing company, I thought it's a good practice to put it down into a proposal form, even though I don't go to a traditional publisher or a hybrid publisher. One of the things I did within that was get a sense of who my ideal readers are. I used a very early version—this was a few years ago—of an IBM AI tool, creating what we call a psychometric map of my ideal reader. This basically tells me, over about seventy-two different factors, how this person thinks, how they feel, what their value system is, very broadly for my ideal reader. I pulled in different sources. I knew the kind of magazines and books they were reading and what their general worldview was. So I created this—going one step beyond just creating your ideal reader to really understanding their psychometrics. I do this in my keynotes too. Before I ever give a keynote or an important pitch or a presentation, I use AI to analyse the psychometrics of the audience I'm going to be speaking to. This might tell me, for example, this audience values humour a little bit more, or this audience values a bit more practicality so they want actionable next steps, or this audience is going to be a little bit authority-challenging so they're going to push back. So even in those very early stages, just starting to think about the book—who was I writing this book for, what was the purpose of the book—I was using AI to understand the psychometrics of my absolutely perfect, ideal reader. I gave her a name. It was a female reader. There was someone similar to her that I already knew. Probably for some of your listeners, they do this instinctively anyway. They maybe have a person or a few different people they think of in their head. Then from that stage, because I've been delivering lots and lots of keynotes—and this may be an important distinction in the way that I have decided to write books as opposed to how other people write books—my family were all jazz musicians. The difference between a rock musician or a pop musician and a jazz musician is this: a rock or pop musician will go into the studio, create this opus, this work, and then tour that for the next two years. A jazz musician, on the other hand, goes out and performs the songs and the things from the album that they're eventually going to create hundreds of times, thousands of times, to find out what works with audiences, and then they go into the studio and record the stuff that works best. So I created a book more like a jazz musician. I'd delivered keynote versions of the book hundreds of times before I ever decided to actually write the book. So it had been stress-tested with real people to a certain extent. Then, getting into it, I thought—well, what works as a keynote is not necessarily going to work as a structure for a book. So what I did was start using ChatGPT models at that point to think about the structural edit of the book. What was the structure going to be? What was great is you can basically feed it every single keynote you've given over the years, all the notes, everything you've done, and it could start to give me something to riff with and really get into thinking about how I was going to create this. I was using it a little like that creative pairing we spoke about earlier. Then once I'd done that—so I've now got an idea of a structural edit essentially—I then go back and speak to some humans about it. “What do you think about this?” “What do you think about that?” And try some things out over dinner conversations. “I'm thinking about doing this—what do you think?” Then once I did that, I just did the thing that I really didn't want to do, but I guess you absolutely have to do: sit in a seat for multiple weeks and just get that crappy first draft done. That was just me writing, from my voice, in my way of doing things. Every so often I would use an AI to research a particular thing, but I didn't want to slow down the pace too much. I was focused on getting that word count done. Once I had the first draft, I then brought the AI back in. In this case, I was still using OpenAI at this stage, to act more like an editor. To tell me what was weak about the book. At this point I was starting to give it the overall framing. What was weak, what chapters needed to be improved. I then went back, started reworking each of the chapters, and worked chapter by chapter using that AI as a sparring partner. But once again, the AI is not really writing my words for me. It's maybe saying, “This part could be said better. You might want to think about doing it this way,” or “You are missing a really powerful case study or example here,” or at the very end of each chapter, I have actionable next steps, and “You're missing some things here.” So I've gone through that entire process of writing, and now I'm essentially at the second draft. At this point, what I'm doing is using another AI tool—Claude, in this case—to have a different perspective on it. I gave it the work. I mentioned a couple of editors that I really respect and different writers I respect and said, “I'm going to create a virtual beta readers group. Give me feedback on this now.” For someone that's listening to this, and we're recording this in April 2026, here's some good news for you. There are now a bunch of tools out there that use AI swarms, as we call them. You can basically feed it your book and it will create synthetic readers—thousands and thousands of synthetic readers that read your kind of style of book—and it will then give you feedback from these synthetic readers. Essentially, I was just doing an early version of that. So I got the feedback from the synthetic readers, the AI readers, and then reworked a little bit. Some of the stuff I just decided not to do because it didn't align with what I was trying to say in the book. Then the next stage was I had a beta reader group of about thirty human beta readers—my ideal readers. I sent the book to them, they gave me feedback. I then used AI to give me an overview report of all their feedback, and then I was able to go back into reworking the book. That's still really just draft three of the book, not the final book at this stage. But just to give everyone a sense of opening up the process: you could see how the human and machine were working together. Jo: Yes, I love that. I also often say to people who are speakers first that you can, if you have recordings of your talks or if you use your slide decks to record them as MP3s and then just use that transcript as the basis of a draft. Obviously it's not the book or a chapter, but it can actually preserve your voice—your speaking voice—which I think can be really effective for speakers. I like your multi-step process there. And then of course, if you have audience avatars in AI, that can help you design your book marketing. So take this into book marketing and how you're doing that. James: So I still decided to go old school with a human editor—a book editor that someone had recommended to me. I used that human book editor just to go through the book. At that point we're talking about style, some stylistic things that we wanted to do, and they can pick up other things as well. So I've got that book, and then I'm obviously starting to use AI to understand what tags, what kind of copy do I want to have in terms of putting it onto Amazon, putting it onto IngramSpark, and all these other platforms I want to put it out into. I'm using Claude here in particular—and with Claude, you have something called Cowork. It wasn't quite fully happening at that point, but there were early versions of it and Claude Code—to almost start working with and creating a virtual marketing team. I give it the book and then they could start thinking about: what is the marketing strategy for this book? What does the campaign look like? What are the things that we need to do? That was then starting to break it down. We're now three months out or so before the book is due to get released, and I'm starting to deploy that particular campaign. So for example, I'm on a podcast right now, and we try different versions. We have a human going out and reaching out to potential shows for me to be a guest on, but I also have an agent. There's also one going out and finding and researching podcasts and reaching out to those podcast hosts to have me as a potential guest. So they're doing some of the tactical work there at the same time. One mistake I made—and I don't know if you've experienced this as well—if I was to go back, one thing I would do differently is this: I decided to record the audiobook version after the physical book was already committed and ready to go out. Jo: Mm-hmm. James: And I noticed so many small errors or things I would change after having spent two days in a studio recording the voice for the entire book—changes I would have made. This is something other people did ask me: why are you not using ElevenLabs or an AI clone of your voice to read the script? There are some things I feel quite personal about, and my voice is one of those things. As a professional keynote speaker, I decided I wanted to keep that and have it in there. So it's going to be different for everyone which things they decide to offload to AI, which things they decide to give to a human member of their team, and what they decide to keep to themselves. Jo: Yes, I mean, I human-record my nonfiction, but I have an AI voice clone with ElevenLabs for my fiction now. But obviously, for people listening, you can't put an ElevenLabs voice-cloned audiobook on Audible, and a lot of your sales will be on Audible, especially for a book like this. So I think that's also important. I agree with you on doing the audio edit. There's always things you want to change. But as you mentioned, you're self-publishing this, so you can just go in and change your files. James: Yes, and that was the other reason, and this was part of the marketing—now we're moving into the marketing and the business model behind the book. For me, the book doesn't have to be a financial driver in its own sense. The way that I sell books, and usually people like myself—professional speakers—is we bulk sell books to our clients. Let's say I'm speaking at four different events this month. Each has about a thousand people at them. Those organisers will buy, say, a thousand copies of the book. So at the end of that month, you might have sold four thousand copies—not individual copies. Anything that sells on Amazon or in other places is almost like a positioning piece. Obviously you want people to buy the book and learn things from the book, but in terms of the distribution model, it's slightly different because I'm primarily selling through bulk sales. Now, here's a little twist you can do on this, and this is a decision I made even before we released this version of the book. I speak to lots of different industries. There was a speaker and author—I've forgotten his name now, I think he was from Florida—and what he decided to do was to write a slightly different version of his main book every year, but for a different industry. So what this allows him to do is, let's say in my case, I'm doing a version of the SuperCreativity book just for legal professionals because I speak to a lot of law firms and legal groups. I've already started working on a version of the book which is a little bit more attuned to that audience. As a speaker, it allows me to go to all these law firms and legal associations and bar associations and say, “Hey, I've just written the book on creativity and artificial intelligence for the legal industry.” That makes you a very bookable proposition for a client. And then obviously you can sell books from that as well. And that's before we get into the foreign language versions. That's just a model that happens to work pretty well for my part of the industry, but obviously it's going to be very different for other types of authors. Jo: No, I think that's great. For nonfiction authors, as you say, there are different revenue models. Your income, I guess, would be what, eighty, ninety per cent speaking revenue? Or do you have other things as well? James: Yes, primarily it's the keynote speaking, and anything that comes from the back of that. Sometimes it's boardroom advisory work that I do as well. But primarily it's the speaking side. So really the book is just the simplest form to get my ideas out and the most affordable form. Jo: Mm-hmm. James: Because the other thing is, you want as many people getting your ideas as possible, and there is no better, more affordable way of getting someone's ideas out there than in the form of a book. I think it's just the most unbelievable transmitter of knowledge—a book. That's why I love to write the book as well. A lot of my friends say, “Listen, books are old hat. You don't need to do a book any more. You can do these other things, other forms, online courses.” I've done lots of online courses in the past and membership sites and all those things, but there's just something that is great about a book—to be able to summarise your ideas at a particular point in time. It's also a great transmitter of value to other people. And it is affordable. Any book, someone can download a book on Audible or wherever they want—that's just an affordable way of absorbing that content. Jo: Yes. Well, of course we are all fans of books here. I do speak—I don't tend to do keynote speaking. I do more content speaking at conferences. For people listening, keynote speaking is where you tend to get the higher revenue. So if people listening have books already—let's say they have nonfiction books or even fiction books that could be turned somehow into different topics—if people want to get booked for speaking gigs, preferably ones that pay— How would you recommend authors think about moving into speaking if that's something they want to do? James: So obviously it's much easier for nonfiction authors to do that. I mean, I'll give you an example. I was speaking at an event last week in New York for L'Oréal, the hair care and cosmetics company. They had six different speakers. One of them was a speaker on macroeconomics and geopolitics. Another was an expert on communications. Another was an expert on AI. Another was an expert on storytelling. So you have to think: does my topic have value for that type of audience—that corporate audience? An easy way of finding that is if you just go onto any of the speaker bureau websites, type in “speaker bureaus,” look for the speaker bureaus, and then type in your topic area—emotional intelligence or whatever the topic area is—and look at the other speakers. See if there is obviously a number of speakers talking on this area. Importantly, look at how busy they are and look at their fee levels as well. I did an online summit a few years ago called the International Speakers Summit, where I interviewed a hundred and fifty of the world's best professional keynote speakers. I interviewed Sally Hogshead, who's an author and a speaker, and she said to me, “James, you're going out speaking about creativity, but if you just twisted it a little bit and spoke more in terms of innovation rather than creativity, you would earn an extra five thousand dollars per keynote.” So creativity and innovation—an extra five thousand dollars. That's just a simple thing that, as you get to understand the industry, you learn. Then once you do that, it's like any business—you have to treat it like a business, obviously. What makes someone a great storyteller on stages is not the same as what makes a great storyteller on the written word. So depending on where you're at, you might need certain training and skills development. If you are listening to this from America, there are things like the National Speakers Association, the NSA. If you're living in the UK, the Professional Speakers Association. These are great ways just to develop your skill set and learn from other professional speakers. Here's the good news, I didn't know anything about professional speaking until 2017–18, and it was only from having a conversation with someone who said, “Listen, you have some original thoughts. You can get paid to speak about this on stage.” Then I spent the next year really researching and understanding and looking at how to do it and creating a minimum viable product—a speech—that was a very short period of time, a year. Most of the listeners here have gone through that process of writing a book, which takes many, many months. So you have the stamina to do this type of work. You just need to find out where you fit. I thought I was going to be a speaker in marketing. I thought that was going to be my thing. And it turns out that's not what the market wanted from me. They wanted me to talk about creativity and artificial intelligence. So you have to listen to the market, like you have to listen to your readers. Jo: Yes, I think that's really interesting. I was also a member of the PSA here, and I learned in Australia with the NSAA as it was. James: Yes. Jo: And that thing about who you speak to—I mainly speak to author conferences, who, I just want to be frank, don't pay very well, if at all. So exactly what you said there— If you want to be a highly paid speaker, you have to pick the audience who's going to pay, as well as a topic that works with them. It is a very different thing to writing a book, I think. James: It is a different model. This is what was interesting when I interviewed those hundred and fifty professional speakers—the thing that came back loud and clear is there is a model to suit everyone. Jo: Mm. James: So the model that works for me—getting paid high fees to go and travel around the world, speaking on stages to primarily corporate audiences—that is not the only model. There is another model, which is called the “sell from the stage” model, where you maybe don't get paid anything to go and speak on the stage, or very little, but what you're doing is you're selling your consulting, your online course, your books, your other products from the back of the stage. That's another model as well. I have friends who have young families and they are writers and they don't want to schlep on planes like I do. I know one speaker in particular who never leaves his own city. He is a very successful professional speaker. He happens to live in Orlando, Florida, which is one of the busiest cities for conferences. So literally, he's home with his kids every night. He gets to do all this cool stuff he wants. He never has to step on a plane if he doesn't want to. That just shows you the range. I remember I once interviewed a person whose title was a Buddhist monk, French speaker, and author. He figured out he could live very affordably by living in Thailand. So he lives in Thailand for part of the year and he's very into meditation, mindfulness, yoga, and writing. He figured out he only had to give two keynotes per year to pay for his entire lifestyle. That was it. So that gives him a lot of freedom. He does those two corporate keynotes a year and for the rest of the year he's doing his yoga, his meditation, his writing, and surfboarding, whatever he's into as well. So you can see there's a whole range of different ways you can design that life. Jo: Yes, we talk a lot about definition of success and it's great to hear those different examples. So before we finish up, I just want to come back to your journey into the writing side, into books and self-publishing. We all understand, me and the listeners, how hard it is to write a book and also to market a book, but we've got the bug. So we wonder: how much have you got the bug? Do you plan on doing more writing, more books, or do you still want to lean more heavily into speaking? James: Primarily the income for me will still come from speaking. I remember listening to Elizabeth Gilbert once when she talked about her writing. She said she always wanted to have other things, so she never had to push onto her writing that it had to be the income stream for her. If it was successful, great, that's fantastic. So I have a little bit of a similar view to that. In terms of my own writing, I've got about five different nonfiction book ideas I'm now looking at. Some of them relate to speeches that I already do. Some don't. I'm looking at different versions of the SuperCreativity book, so there'll be other versions coming out—different industries, different languages. That gives you a few years of work. The other side that I want to develop is the fiction writing side. I'm already starting to work on a fiction book at the moment—a little bit like this idea of one for them, one for me. Jo: Mm-hmm. James: So one for them is for the corporate audience, that world that I live in, and the other one is for me, for my own creativity. My hope—and I don't know, maybe we need to speak in a year's time when I've written and published it—is that by doing the fiction side, it will make me a better storyteller on stages as well for my corporate audience. It will help me understand story arcs, slightly different ways of expressing stories, building emotion, building the anti-hero characters within a book, for example. So I'm hoping that they both feed off each other. But we will see. Jo: Yes, we will. All the best with that. So where can people find you and your books and everything you do online? James: The easiest place to go is JamesTaylor.me, and you can find the book, which is called SuperCreativity, there. Or just go to wherever you buy your books—your local independent bookstore—and get a copy of SuperCreativity. The audiobook may already be out by the time you're listening to this as well. If you want to learn a little bit more, we also have a podcast called the SuperCreativity Podcast, where I interview lots of wonderful guests talking about this area of super creativity. Jo: Well, thanks so much for your time, James. That was brilliant. James: Thank you, Joanna. Thanks for having me as a guest on the show.The post SuperCreativity And KeyNote Speaking With A Non-Fiction Book With James Taylor first appeared on The Creative Penn.

Narrow market leadership is becoming a growing risk for investors heading into the summer months. While the S&P 500 continues pushing near record highs, a small group of mega-cap technology stocks is carrying most of the market higher as broader participation weakens beneath the surface. Lance Roberts breaks down why concentrated leadership matters, what history says about narrow rallies, and why stretched momentum in semiconductors, AI, and mega-cap growth stocks could leave markets vulnerable to sharper volatility ahead. We'll review the widening gap between cap-weighted and equal-weight indexes, weakening sector participation, and the growing importance of risk management as markets move further above long-term trends. Here's a topical rundown of today's show: 0:00 - INTRO 0:54 - Strong Earnings Season Continues - Nvidia Prelude 6:01 - Markets Complete 7th Week of Gains 12:01 - Bring Your Kid to Work Day 12:54 - Signs of Market Risk Ahead 15:30 - Market Breadth Has Been Worrisome 17:17 - Market Weighting is Important 19:51 - Narrow Market Leadership History 21:44 - Negative Market Should Be Expected 22:35 - Factors of Risk 24:22 - When Correction Comes... 26:47 - Six Actions You Can Take Now 32:17 - Warren Buffett's Cash 35:24 - The Buffett Indicator: Warren's Calling for a Crash? 36:57 - Two Readings that Matter 41:45 - Why Do You Own Berkshire-Hathaway 43:41 - What Would Warren Buffett Buy (WWWBB)? Hosted by RIA Advisors Chief Investment Strategist, Lance Roberts, CIO Produced by Brent Clanton, Executive Producer ------- Articles Mentioned in Today's Show: "Market Leadership Is Narrow, Increasing Summer Risk" https://realinvestmentadvice.com/resources/blog/leadership-is-narrow-increasing-market-risk-into-summer/ "Buffett Cash Hoard: Why $397 Billion Sits On The Sidelines" https://realinvestmentadvice.com/resources/blog/buffett-cash-hoard-why-373-billion-sits-on-the-sidelines/ ------- Do you enjoy our content? Rate us on Google: https://bit.ly/4b9JtEo ------- Watch Today's Full Video on our YouTube Channel: https://youtube.com/live/ajQHux6HT7k ------- Watch today's "Before the Bell" feature, "Momentum Meets Gravity," here: https://youtu.be/-HT6wtmOzjw ------- Watch our previous show, "What Your Advisor Should Really Do" https://youtube.com/live/HXafEWQMFuI?feature=share ------- * REGISTER for our next Dynamic Learning Series presentation, "A SimpleVisor Tutorial," Thursday, June 4, 2025 at Noon: https://streamyard.com/watch/MwairsimgmnS -------- Download Lance's Latest e-book, "Laws of Money & Wealth:"https://realinvestmentadvice.com/ria-e-guide-library/ -------- SUBSCRIBE to The Real Investment Show here: http://www.youtube.com/c/TheRealInvestmentShow -------- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to SimpleVisor: https://www.simplevisor.com/register-new -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #StockMarket #MarketCorrection #Investing #SP500 #MarketOutlook #WarrenBuffett #BerkshireHathaway #MarketRisk #TechnologyStocks #FederalReserve

Narrow market leadership is becoming a growing risk for investors heading into the summer months. While the S&P 500 continues pushing near record highs, a small group of mega-cap technology stocks is carrying most of the market higher as broader participation weakens beneath the surface. Lance Roberts breaks down why concentrated leadership matters, what history says about narrow rallies, and why stretched momentum in semiconductors, AI, and mega-cap growth stocks could leave markets vulnerable to sharper volatility ahead. We'll review the widening gap between cap-weighted and equal-weight indexes, weakening sector participation, and the growing importance of risk management as markets move further above long-term trends. Here's a topical rundown of today's show: 0:00 - INTRO 0:54 - Strong Earnings Season Continues - Nvidia Prelude 6:01 - Markets Complete 7th Week of Gains 12:01 - Bring Your Kid to Work Day 12:54 - Signs of Market Risk Ahead 15:30 - Market Breadth Has Been Worrisome 17:17 - Market Weighting is Important 19:51 - Narrow Market Leadership History 21:44 - Negative Market Should Be Expected 22:35 - Factors of Risk 24:22 - When Correction Comes... 26:47 - Six Actions You Can Take Now 32:17 - Warren Buffett's Cash 35:24 - The Buffett Indicator: Warren's Calling for a Crash? 36:57 - Two Readings that Matter 41:45 - Why Do You Own Berkshire-Hathaway 43:41 - What Would Warren Buffett Buy (WWWBB)? Hosted by RIA Advisors Chief Investment Strategist, Lance Roberts, CIO Produced by Brent Clanton, Executive Producer ------- Articles Mentioned in Today's Show: "Market Leadership Is Narrow, Increasing Summer Risk" https://realinvestmentadvice.com/resources/blog/leadership-is-narrow-increasing-market-risk-into-summer/ "Buffett Cash Hoard: Why $397 Billion Sits On The Sidelines" https://realinvestmentadvice.com/resources/blog/buffett-cash-hoard-why-373-billion-sits-on-the-sidelines/ ------- Do you enjoy our content? Rate us on Google: https://bit.ly/4b9JtEo ------- Watch Today's Full Video on our YouTube Channel: https://youtube.com/live/ajQHux6HT7k ------- Watch today's "Before the Bell" feature, "Momentum Meets Gravity," here: https://youtu.be/-HT6wtmOzjw ------- Watch our previous show, "What Your Advisor Should Really Do" https://youtube.com/live/HXafEWQMFuI?feature=share ------- * REGISTER for our next Dynamic Learning Series presentation, "A SimpleVisor Tutorial," Thursday, June 4, 2025 at Noon: https://streamyard.com/watch/MwairsimgmnS -------- Download Lance's Latest e-book, "Laws of Money & Wealth:"https://realinvestmentadvice.com/ria-e-guide-library/ -------- SUBSCRIBE to The Real Investment Show here: http://www.youtube.com/c/TheRealInvestmentShow -------- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to SimpleVisor: https://www.simplevisor.com/register-new -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #StockMarket #MarketCorrection #Investing #SP500 #MarketOutlook #WarrenBuffett #BerkshireHathaway #MarketRisk #TechnologyStocks #FederalReserve

How did one family build Fidelity into one of the most powerful forces in American investing, and what allowed it to endure across three generations?In the latest episode of A Book with Legs, Smead Capital Management CEO and Portfolio Manager Cole Smead and Analyst Will Keenan sit down with journalist and author Justin Baer to discuss his book, titled "House of Fidelity: The Rise of the Johnson Dynasty and the Company That Changed American Investing."Cole and Will explore the 80-year rise of Fidelity with Justin, tracing three generations of the Johnson family and the various investing styles of Fidelity leadership throughout the years. They also discuss the closed-door battles that shaped the firm's direction, the rise and legacy of Peter Lynch, and what this story tells us about active management businesses that last.Justin Baer is an award-winning journalist and an editor for The Wall Street Journal. In a career that includes stints at the Financial Times and Bloomberg News, he has covered almost every significant financial event over the past two decades, including the dot-com bubble, the 2008 financial crisis and the economic fallout from the pandemic. Along the way, Baer has chronicled the ups and downs of such major institutions as Goldman Sachs, J.P. Morgan Chase, Citigroup and Warren Buffett's Berkshire Hathaway.Purchase “House of Fidelity: The Rise of the Johnson Dynasty and the Company That Changed American Investing” here: https://www.hachettebookgroup.com/titles/justin-baer/house-of-fidelity/9781538766958/Sign up to be notified about new A Book with Legs episodes: https://hubs.ly/Q0452Lh70

Muy buenos días, Trump y Xi Jinping: las conclusiones de viaje a China. Hay quienes creen que al mundo no le está yendo tan mal con el cierre del Estrecho de Ormuz. Hubo telefonazo de Trump a México y Japón. Berkshire Hathaway ¿ahora en qué invierte sin Warren Buffet? Siguen fluyendo noticias desde Venezuela, una marca de fast fashion llega a Argentina y La Estrategia del Día, se pone la playera del Mundial, con el estreno de la edición especial del podcast: Voces del Mundial de Norteamérica. ¿Ya escuchaste el primer episodio? Escúchalo aquí: https://open.spotify.com/episode/4hpflCr08x9HrMJz9islsk Miralo en Youtube: https://www.youtube.com/watch?v=wtMxnRs5B1E&t=439s 

Go to www.LearningLeader.com/Becoming for my new book, The Price of Becoming This is brought to you by Insight Global. If you need to hire one person, hire a team of people, or transform your business through Talent or Technical Services, Insight Global's team of 30,000 people around the world has the hustle and grit to deliver. Dr. Henry Cloud is a clinical psychologist, leadership consultant, and New York Times bestselling author whose books have sold nearly 20 million copies worldwide. His titles include Boundaries, Integrity, Necessary Endings, and Trust. For three decades, he has worked with leaders, helping them close the gap between where they are and where they want to be. His newest book is Your Desired Future: The Five Essential Steps That Take You Where You Want to Go. Key Learnings Henry's five-step model for getting from here to there: Vision (clear and compelling) Talent (engaging the right people around you) Strategy and plan (how you'll win) Measurement and accountability (how you'll know) Fix and adapt (course-correcting in real time) At the age of 16, Henry's daughter asked, "Dad, how do people become singer-songwriters?" Henry went out to the garage and brought in his whiteboard. Lucy rolled her eyes. He gave her the five-step model. A couple years later, she published a song called "Crash and Learn" that got bought by CBS, the CW Network, and featured on Spotify and Apple Music. We tend to create departments and businesses in our own image. Of the five components, we're going to be good at two, maybe three. But the others still have to happen. That's where most leaders fail. Only humans can picture a desired future state. Finley is Henry's Doberman. When the FedEx guy comes to the door, she runs to it, and barks every time. Henry has never seen her stop and ask herself: "I wonder if that barking will help me get to where I want to be on Thursday." Most leaders are operating like Finley. Working hard. Doing what they've always done. Never stopping to ask if any of it is getting them where they want to be. You need an observing ego. The worst thing you can do is hit the accelerator harder when you're going down the wrong road and you don't even know where you're going. Tony Blair, while Prime Minister, spent half a day a week sitting by himself next to a pond in reflection. Warren Buffett spends an hour and a half a day at his desk staring out the window.  A revenue number is not a vision. The single worst vision statement Henry ever heard: "We want to be a $50 million company." It provides no clarity of what the company is going to do.   A vision is a compelling picture of a future state that makes people want to sacrifice for it. If your vision wouldn't inspire anyone to get out of bed early, it's a metric, not a vision. Will Guidara created a "dream maker" role at Eleven Madison Park. Their job: listen for clues from guests, then create a personalized, unexpected, memorable experience the guest will never forget and tell everyone about. Trust Fuels Investment. People invest in leaders who feel like they understand them. You're taking your team into a war. They've got to have deep trust with you. The first thing a leader has to do is develop deep, deep trust and let their team know that they understand the pressure they're under. "A vision can die without a plan or without people." Alan Mulally's weekly 7:00 AM Thursday meeting at Ford. Every VP had to give every project a red, yellow, or green status. When Mulally first arrived, the company was hemorrhaging money. Everyone was holding up green. He said: "How can you be holding up green when here's the reality over here? I need some reality in here." When one VP finally held up red, Mulally moved him to sit next to him. The wrong view of accountability is looking back to spank somebody for what they didn't do. The right view of accountability is a tool to make sure we reach our destination. You get what you create or what you allow. Henry was working with a global CEO whose team had cultural problems. Henry kept asking, "Why is that?" After a few rounds, the CEO finally said, "I guess I am ridiculously in charge, aren't I?" If you are the one actually in charge, you are ridiculously in charge. Either you're creating it, or you're allowing it. Accountability answers two questions: Did we do what we said we were going to do? If not, why not? Don't just tell people to "do better." Run a root cause analysis. Maybe they don't have the tools. Maybe you gave them competing goals. Maybe it's a leadership problem. If we executed perfectly, did we get the result we expected? If yes, pour on the gas. If no, go back up the model and adjust your strategy. Most leaders measure goals, not activities. Goals are lagging indicators. You can measure them after it's over. It's too late. Measure activities. Did we do this week what we said we were going to do? Micro drivers matter. Henry worked with a CEO who built multi-billions in valuation from a one-office company who was excellent with micro drivers. It's an atomic compression of the 80/20 rule. He knew the specific activities at each level of the business that actually moved the needle, and he made those objects of extreme awareness, focus, training, and deliberate practice. Peter Drucker said, "Nothing's worse than perfectly executing the wrong things." The number one thing the greatest leaders share: character. Not moral or ethical character. Your makeup as a person. How you're glued together. Integrity comes from the word that means wholeness. The great performers are drivers of tasks and relationships. The highest performers utilize coaching the most. Henry expected the disastrous leaders  to be the ones calling. It was the exact opposite. The ones crushing it are the ones who reach out. The struggling ones rarely do. The greatest leaders reverse the law of entropy: things get worse over time. But entropy only applies to a closed system. Open the system to a new energy source from the outside plus intelligence to organize it, and you can reverse it. That's what coaches, mentors, and advisors do. A leader is a closed system when the only voices they're ever listening to are the ones in their head. The greatest leaders embrace negative realities. They move toward problems. Not to nuke them, but to either resolve them or transform them into something better. Reflection Questions In how many areas of your life are you just barking at the door, working hard at activities without ever stopping to ask if any of it is getting you where you want to go? Is your current vision a metric, or a compelling picture of a future state that would make people want to sacrifice for it? Where in your life are you a closed system? Whose voices outside your head could open you up to new energy and intelligence? More Learning #229 - Dr. Henry Cloud: Be So Good They Can't Ignore You #050 - Dr. Henry Cloud: Integrity is the Wake You Leave Behind #682 - Will Guidara: Adversity is a Terrible Thing to Waste Podcast Chapters 00:00 The Price of Becoming – Pre-Order Now! 01:13 Meet Dr. Henry Cloud 02:40 The Leadership GPS: Where Are You Going? 04:54 Step 2: Building the Right Team Around You 06:09 Steps 3-5: Strategy, Measurement, and Adapt 10:45 Why the Best Leaders Carve Out Time to Think 15:50 Why a Revenue Number Is Not a Vision 18:20 Crafting a Vision People Will Sacrifice For 23:12 The HVAC Story, Joe Girard, and the Dream Maker 27:38 Trust: The First Thing Every Leader Must Build 30:04 Alan Mulally's Red-Yellow-Green Meeting at Ford 32:38 How to Run Status Reviews That Actually Work 34:26 Accountability Should Be an Immune System, Not Autoimmune 38:18 Measure Activities, Not Goals 43:10 Micro Drivers: The Atomic 80/20 Rule 45:14 The Voices Outside Your Head: Peers and Accountability 47:47 The #1 Trait of Sustained Excellence: Character 50:39 The Greatest Leaders Reverse Entropy 56:17 EOPC

 WHAT’S TRENDING: A Monroe man escaped custody, but we had no idea // Former Governor Christine Gregoire speaks out against Democrat spending in Washington // An auction bidder payed $9 million to have lunch with Steph Curry and Warren Buffet, but why? // Seattle World Cup ticket prices are dropping // NYC Mayor Mamdani thinks libraries are a beacon of government competence // Rantz shuts down Ana Navarro on CNN for claiming Sean Duffy went on a seven month road trip.  

The crew discusses the Atlanta Falcons' viral schedule release video and the unusual $9 million lunch offer with Warren Buffett. They also dive into a debate over tiny NYC apartments before a breakdown of Garrick Higgo's PGA Tour penalty. A round of Sports Jeopardy tests their knowledge of NBA history and MLB milestones. 01:00 - Falcons Schedule and Expensive Lunches 03:22 - NYC Apartment Living Realities 05:03 - Softball News and Golf Penalties 08:20 - Falcons Viral Video and Music 11:20 - Daily Sports Jeopardy Challenge

Quotes from the episode:   "We're not just selling tools anymore — we're building solutions that make the trade pro's life easier."   "EOS gave us the discipline to focus on what really matters when everything is pulling at you."   "(In golf,) you can't hit everything with a driver — great businesses know which tool to use and when."   In this episode, Bill talks with Rich Benninghoff about Malco's evolution into the broader Malco Group and what it means to shift from a product company to a solutions platform. Rich shares how his 30-year journey across different business models shaped his approach to growth, ultimately leading to the strategic alignment and acquisition by Aspen Pumps. The result is a multi-brand platform designed to serve HVACR professionals more holistically, built around the "back of the van" concept — delivering a full suite of tools and solutions that make technicians' lives easier. A major enabler of this growth has been EOS, which Rich credits with bringing clarity, accountability, and alignment across a complex, multi-brand organization. Rather than reinventing systems, the team has stayed true to EOS fundamentals, embedding them into tools like Microsoft Teams to scale effectively. The conversation highlights how discipline, focus, and simplicity are critical when managing rapid expansion without losing operational integrity. Rich also emphasizes the importance of respecting the legacy of acquired brands while enhancing the customer experience through better access, service, and integration. Drawing inspiration from leaders like Warren Buffett and Charlie Munger, he reinforces a core principle: do a few things exceptionally well. The episode closes with a reminder that while strategy and systems matter, success ultimately comes down to people — both inside the organization and out in the field.   Rich's LinkedIn: https://www.linkedin.com/in/rich-benninghoff/   The Malco Group website: https://malcogrp.com/   What is EOS: https://www.eosworldwide.com/what-is-eos   This episode was recorded in May 2026.

Discover how to spot undervalued stocks like Deutsche Bank (DB) 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. This week I spoke with Cameron Reilly from the QAV Investing Podcast for another episode of Weekend Watchlist. Deutsche Bank delivered its best results in 156 years after a major turnaround. Learn how the bank refocused, rebuilt, and returned to strong profitability.Discover how to pick winning stocks and beat the S&P 500 with Tony Kynaston's proven QAV (Quality at Value) investing methodology.It's a systematic checklist for identifying undervalued quality companies, timing buys and sells with a "three-point trend line" and avoiding market noise. QAV America has delivered 64% returns since September 2023 vs. the S&P 500's 54%, perfect for beginners and pros seeking long-term compounding.Learn about the checklist manifesto, operating cash flow focus, and why QAV is expanding to cover US stocks. Use promo code SFBUS for 20% off QAV plans: QAV Club America (annual/monthly) for full tools and community, or QAV America Light for simple buy/sell signals. Start your 14-day free trial by clicking this link. Subscribe to this channel for more stock picking tips, value investing strategies, and market-beating ideas.Are you Australian and investing in the ASX and ready to go beyond ETFs? Learn from the master - Tony Kynaston's QUALITY AT VALUE. Sign up with code SFB for a 20% discount on QAV Club plan or SFBLIGHT for a free month of QAV Light by clicking this link. for Australians or those wanting to invest in Australian stocks.Disclosure: The links provided are affiliate links. I will be paid a commission if you use this link to make a purchase. You will receive a discount by using these links/coupon codes. I only recommend products and services that I use and trust myself or where I have interviewed and/or met the founders and have assured myself that they're offering something of value.Stocks for Beginners is a production of Finpods Pty Ltd. The advice shared on Stocks for Beginners is general in nature and does not consider your individual circumstances. Opinions expressed by guests are theirs alone and may not represent the views of Finpods, Money Sherpa, or Phil Muscatello. Stocks for Beginners exists purely for educational and entertainment purposes and should not be relied upon to make an investment or financial decision. If you do choose to buy a financial product, read the PDS, TMD, and obtain appropriate financial advice tailored towards your needs. Philip Muscatello and Finpods Pty Ltd are authorised representatives of Money Sherpa PTY LTD ABN - 321649 27708, AFSL - 451289. Hosted on Acast. See acast.com/privacy for more information.

In this episode, Karl Bryan and Rode Dog riff about what truly motivates business owners, the mental models and frameworks that drive business growth, and how to keep both your coaching career and your client's businesses thriving for the long haul. Listeners get practical advice for marriage as entrepreneurs, lessons on why "no" is success, and a fascinating debate about profit priorities versus scaling. The hosts tackle both mindset and concrete tactics—delivering their trademark mix of humor and real-world wisdom. Key Topics Covered The Myth of the Status Quo as a Motivator Karl explains that improvement and "better than average" don't sell—people buy "new" and "next." Business coaches should frame offers and client conversations around transformation, not just marginal gains. Balancing Marriage and Entrepreneurship Entrepreneurship is tough on relationships. Karl shares candid marital advice for business owners, highlighting the power of vulnerability, touch (both emotional and physical), and remembering that you must do your own personal work. The Power of Saying No "No" is equated to success and focus. Karl draws examples from Warren Buffett's philosophy and iconic companies, illustrating that strategy is about what you refuse to do—not just what you commit to. Ask Better Questions—Create Authority Great coaches ask the questions that drive self-reflection and responsibility. The four questions from Jim Rohn ("Why? Why not? Why not you? Why not now?") become coaching frameworks to unlock motivation and action. Reinvesting in the Business vs. Paying Yourself The classic dilemma of "I reinvest all profits to scale" is debunked. The Profit First method is championed—automatically pay yourself, just like you pay rent, to avoid burnout and maintain passion. Profitability Before Growth Scaling doesn't solve margin problems. Most owners want to chase revenue milestones (like $2M) but end up vulnerable. The message: build profit into the business at every stage, control expenses, and understand your numbers. When to Dig In, When to Pivot Karl urges seasoned coaches (and their clients) to dig in and take advantage of compounding in business and career, rather than chasing constant change. Endure the "boring" parts for outsized long-term rewards. The True "Wonder Drug" for Life and Business In the Zen moment, Karl reminds listeners that exercise (not a mythical pill) is the secret to longevity, mental clarity, and business strength. Notable Quotes "In a word, no. Improvement is not a powerful motivator—sell 'new' and 'next' for higher conversion." — Karl Bryan "No is success. Focus equals the things you say no to." — Karl Bryan "Business is hard on marriages. Enjoy the wild bucking bronco ride, don't fight the ups and downs." — Karl Bryan "When profit goes, passion erodes." — Karl Bryan "If it's not profitable at a million, don't assume it magically will be at two million—growth often eats into margins." — Karl Bryan "Success is the same movie over and over for ten straight years." — Karl Bryan "The drug you really need? Exercise. It gives you everything—energy, longevity, social connection." — Karl Bryan Actionable Takeaways Lead with "New" or "Next" in Your Messaging Frame your programs and marketing around transformation, not incremental improvement. Coach Clients to Pay Themselves First Embrace the Profit First approach. Build profit in as a fixed "expense," automating wealth creation and reducing stress. Get Ruthless About Saying No Define what fits your strategy—and cut everything else. Borrow from Warren Buffett and Michael Jordan: focus relentlessly. Use Better Questions to Unlock Action Adopt Jim Rohn's four questions. Coaching is about guiding clients (and yourself) from thinking to doing. Prioritize Margin, Not Just Revenue Goals Don't be seduced by heady revenue milestones. Keep a laser focus on margins, expense control, and profitability at every stage. Lean into Boredom for Compounding Results Long-term success comes from consistency and sticking to the process—don't chase shiny objects or pivot too soon. Make Physical Health Part of Business Coaching Model and encourage exercise for yourself and for clients. It builds mental and business resilience. Resources Mentioned Profit First by Mike Michalowicz — The recommended book for enforcing profitability Jim Rohn's Four Questions Framework — "Why? Why not? Why not you? Why not now?" Business Coaching Secrets Daily Email — Karl Bryan's daily coaching strategies (join at Focused.com) Profit Acceleration Software™ — Developed by Karl Bryan to boost client results If you enjoyed the episode, please subscribe, share, and leave a review. See you next week on Business Coaching Secrets! Ready to take your coaching business to new heights? Go to Focused.com to learn about Profit Acceleration Software™ and unlock coaching success.

Accountability isn't a magic bullet. It's a force multiplier. It amplifies whatever is underneath it, which means it can transform your business or break you. In this episode, Mike breaks down why accountability isn't about shame, why all real accountability is self-chosen, and what Andre Agassi, Phil Jackson, and Warren Buffett reveal about what happens when it's built right and when it's not. If you're operating without structure, this one is for you. Intro music Hot Shot by Scott Holmes -http://freemusicarchive.org/music/Scott_Holmes/Inspiring__Upbeat_Music/Scott_Holmes_-_HotshotComments: http://freemusicarchive.org/ Outro music Focus by A A Aalto -http://freemusicarchive.org/music/A_A_Aalto/Connections/FocusComments: http://freemusicarchive.org/

In this episode of the He Said, She Said: Razor Branding™ Podcast, Jaci and Michael sit down with Andy Weiss, CMO and marketing strategist, to talk about why the playbooks that got us here will not get us where we need to go – and what to do instead. Andy brings a perspective shaped by decades of experience scaling B2B companies and working with brands like Sprint, Comcast, and Oscar Mayer, and a conviction that mental models and frameworks outlast any tactical script. He opens up about flaming out in his first in-house marketing role and how that failure led him to Warren Buffett, Charlie Munger, and a completely different way of thinking about marketing strategy. From the danger of operating like a day trader to the flattening effect of AI giving everyone the same tools and playbooks, Andy makes a compelling case for why the marketers who stop and think before they execute are the ones who will stand out. He also breaks down why B2B brands hide behind rationality when buyers are still making emotional decisions first and justifying them second. Key Takeaways Playbooks work when conditions are ideal, but frameworks and mental models give you a way to think when conditions are not Operating like a day trader in marketing – chasing quick wins without fundamentals – is not sustainable over the long haul AI has flattened execution, which means brands that cannot create a real point of difference are more vulnerable than ever If you do not know your customers well enough to describe them, your marketing will be generic by default B2B buyers make emotional decisions first and rational justifications second – the best marketers meet them on a human level The goal is not to avoid playbooks entirely, but to know when to use them and when to think beyond them Listen wherever you get your podcasts or at razorbranding.org

Most leaders think the problem is delegation. It isn't. The real issue is leadership design — and whether your business is built to scale beyond you or collapse around you. In this episode, Lisa Goldenthal breaks down a provocative idea inspired by Warren Buffett: the most powerful question isn't about money — it's about structure, control, and leverage. Because in most companies, the CEO is either the engine of growth… or the system's biggest constraint. In this episode, you'll explore: Is your leadership creating a moat — or a bottleneck? What actually breaks if you disappear tomorrow? Does your team think independently — or wait for approval? Are you the highest-leverage player — or the most expensive dependency? Are you solving problems… or unintentionally reinforcing them? Why this matters: If every decision, escalation, and critical move still routes through you, the issue isn't effort — it's architecture. And no amount of delegation fixes a system that was never designed to scale. This conversation reframes leadership from doing more to designing better — so the business can grow without increasing dependency on the founder. Listen if: You're a CEO, founder, or operator who feels growth is stalling because the business still "needs you" in too many places. Your business is not limited by your ambition — it's limited by its design. Listen, then ask yourself one question: What would break first if I stepped away for 30 days?

Keith breaks down why real wealth is built through concentration, not diversification and explains how focusing on one main vehicle—like a specific real estate strategy, business, or career niche—creates the expertise and asymmetric returns diversification can't.  He also clarifies that diversification isn't useless; it's most powerful later in life as a wealth preservation tool, not a wealth builder. Contrasting building wealth with simply earning a living, showing why specialization is the key to higher income.  Finally, he highlights the one area where diversification truly shines: your relationships and network, which provide resilience, perspective, and long-term support. Episode Page: GetRichEducation.com/605 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching: GREinvestmentcoach.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  For predictable 10-12% quarterly returns, visit FreedomFamilyInvestments.com/GRE or text  FAMILY to 66866  Unlock truly passive real estate income—visit flockhomes.com/GRE today to see if your properties qualify for a 721 exchange with Flock Homes. 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, is wealth built through diversification or concentration? There is one clear answer. Then, in five year age increments, how should you think about wealth building and real estate at age 2025, 3035, and so on, all lay out each one today on get rich education.   Keith Weinhold  0:26   Flock homes helps multi family owners exit the operator grind, whether it's your six Plex or a 50 unit apartment through a 721 exchange, this defers your capital gains tax. It's a strategy long used by institutions. Now you can swap tenants and toilets for passive income and zero management request your initial valuation, see if your property qualifies at flock homes.com/gre, that's F, l, O, C, K, homes.com/gre,   Speaker 1  0:59   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  1:15   Welcome to GRE from Buffalo New York to Buffalo Wyoming and across 108 nations worldwide. I'm Keith Weinhold. You're listening to get rich education. I am back here with easy to understand language to help you learn why and how real estate has made more ordinary people wealthy than anything else, and in your personal path to wealth building, how do you think that wealth is achieved is it through diversification or concentration? Because there is a clear cut answer. There is no squishy wishy washy, a little of this and a little of that, or no major exceptions. No gray area here. And it's interesting because I have a CFA friend, that means chartered financial analyst who's really smart and really well trained, and yet he seems confused by this. We disagree on this one straight away. Do you think that you're going to build wealth if you diversify or if you concentrate? And if you're still undecided here, I'll give you a hint. I'm going to ask this integral question one last time and stress a word in this sentence for you. This could really help you out. Is wealth built through diversification or concentration? With that emphasis on built accumulated? The answer is that overwhelmingly, wealth is built through concentration, not diversification. Most people who actually create any really meaningful wealth, they didn't go sprinkle a little money everywhere. Instead, they really focused hard on one thing, whether that thing was a business or a career niche or a narrow set of high conviction investments or a specific real estate strategy, for example, single family rentals or self storage facilities or assisted living homes. And why? Well, because concentration amplifies your upside. It lets you develop expertise which gives you an edge over everybody else, and it's what turns average returns into asymmetric ones. Think about how Warren Buffett made massive gains early with concentrated bets. Or how Jeff Bezos went all in on just a few ventures, or Sarah Blakely on just a few ventures. Those that say don't put all your eggs in one basket, well, all right. I mean, you can look at the world that way, that is a diversification path. Though you're going to end up working full time until you're age 68 and you'll probably be safe and you might just have a sound retirement, but you have done so much trading away of your time in your best years for dollars. I mean, that's it. That's not a wealthy path. Your employer wants you to invest any of your extra income in a diversified way so that you're not going to build enough wealth to leave that employer early. And yes, we're back to the old Andrew Carnegie. Put all your eggs in one basket and then really watch that basket. Carnegie's concentration was in the steel industry, wealth. That's what we're talking about here, like something outstanding, extraordinary, not just a good enough retirement nest egg. Maybe real wealth is built through concentration. This is why we concentrate on one thing here on this show. Largely real estate investing, because you don't build wealth from diversification. All right now, yes, there could be a little diversification even inside residential real estate investing, say, maybe you want to get into three markets. Call it Atlanta, Indy and Kansas City. But overall, that is still concentration in residential real estate investing. And if you want to be outstanding, you have got to embrace the heterodox, meaning a departure from the Orthodox. Orthodoxy is spreading all your money around in, say, the s and p5 100 index, we're almost guaranteed then to get a pedestrian like outcome. And now look, once you've built something and you've got something to protect, which is however you've decided to build your wealth through concentration, oh, now that's when the game changes. You'll probably best protect your wealth, not build it protect what you've built through diversification that being done when you're older. And what diversification does for you is that it reduces your downside risk, it smooths volatility, and it prevents a single mistake from wiping you out. So at this stage, you're no longer trying to win big. You're just trying not to lose big. The mistake most people make is that they diversify too early, and that usually ends up leading to mediocre returns, no real expertise, and these sort of portfolios that are busy but not wealthy, it's sort of like planting 20 seeds and then not watering any of them enough.   Keith Weinhold  6:47   All right. So here's a smarter progression across your investing life. In your early stage, which is your wealth building phase, you want to concentrate your time, your energy, your capital, you want to build skill and conviction, and then you want to take calculated asymmetric bets after, say, 10 or even 20 years of that, you enter the mid stage. That's where you'll start spreading across related areas, for example, multiple property types, but still in markets that you understand. And then finally, after 10 or 20 years of this mid stage, it is later stage, which is wealth preservation only. Then is where you diversify broadly across asset classes and all sorts of geographies. And then you protect yourself against tail risks. So the bottom line is that concentration creates wealth, diversification preserves it. If you try to flip that order, you are going to stay stuck. And if you're young and you're still diversified, and you might think you're okay, and you even project that you're going to have something built up, like, say, $8 million in retirement. If you just keep this up, what you've just done is that you're making my point for me, because 8 million, that is not going to be an outstanding amount at all by the time you reach conventional retirement age, you had better flip to concentrating in something, whether it's residential real estate or data center construction or pressure washing. All right, so that was wealth building. Now, how about instead of wealth? Say that you're trying to make a living, all right, this is a different subject. Now, if you're trying to earn a living, should you diversify, or should you concentrate? How do you make a good living? Which is working at your day job? That's what we're talking about here. Now, once again, the answer is, through concentration, not diversification. We became a society of specialists by the Industrial Revolution 200 years ago, if not sooner, making a good living that comes from being valuable at something specific, not average at a whole bunch of things. One strong income engine beats five weak ones. Depth pays more than breadth. People are willing to pay you for expertise, not for dabbling around. This is whether it's a niche in real estate or a specific profession or a focused business model, you need one thing that reliably throws off good income and a little story here. I don't want this to be disparaging to Uber drivers, because I appreciate what they do and where they drive me. But I recently had an Uber driver. It happened to be in Hollywood, and this uber driver is also a stand up comedian there in West Hollywood. Well, those are two very diverse activities, driving and being a comedian, and that tells me something he's not a very successful. Stand up comedian. If you try to diversify too much, your attention gets split, your skill development slows, and your income plateaus at just okay. Now I'm fortunate enough to have had some good success at what I do, real estate investing, and then talking about real estate investing with you here, that is my specialty, my concentration. I don't mow my own lawn. A specialist does that. I don't shovel my own snow. A specialist with all the right equipment and all the expertise does that. I don't do my own accounting. Now in what feels like a previous life to me, when I used to work a day job for the Department of Transportation, and there were problems with paving a specific type of asphalt on the roads in cold weather, a specific specialist would fly out to help us troubleshoot that. He was a high paid consultant, because he is in a niche that's very tiny. So when it comes to the matter of making a living, where diversification fits is once your primary income stream is stable and predictable, well then maybe you could add a second complementary stream, and not something that's random, build redundancy so that you're not fragile. But just think of that as a backup engine. You don't want to think in terms of 10 side hustles. For an example, a real estate investor adds another market or a strategy, a w2 professional well, they had maybe one serious side income, and that's just a matey. Surely not six apps and gigs if you're out there chasing everything, then you are going to earn less. And now that I've discussed how you want to concentrate, not diversify if you want to build wealth, and you also want to concentrate not diversify if you want to make a good living, well then you might wonder, gosh, does diversification have any place in my life? Is there any life facet at all where diversification gives you an advantage? Yes, there definitely is. Do you have any idea where diversification helps you as you look at all areas of your life, because there is one clear cut place, and that is relationships. Yeah, whether it's romantic relationships, like dating a potential spouse or in the broader sense, I mean, when you met your eventual husband or wife, it's not very likely that you impress them by going deep on some nuance that has to do with asphalt paving, or how you or how you increase your cash on cash return with management efficiencies on your single family rental portfolio in Little Rock Arkansas,   Keith Weinhold  12:57   In relationships, you become attractive to people because you can say, show a soft side, or be a good listener or know how to dance a little all while you can make a good living a diversified relationship portfolio. Now for you, that might mean having close friends for fun and honesty and a professional network for opportunities and perspective, and you might have a mentor or two in your life for guidance, and then you've got family relationships for roots and support. So every one of them plays a different role, and that way, no single relationship has to carry everything and what this protects you from is having just one friendship. You don't want that, otherwise, your whole social life can collapse. It protects you from a career setback, because you'll still have emotional support. Having diverse relationships prevents you from falling into echo chambers. Instead, you're going to get better, broader thinking. So having diversification in relationships that is basically risk management for your life and in this life, facet smart diversification makes you resilient. It makes you grounded. It makes you harder to knock off course. So let's review here in relationships, diversify to build wealth, concentrate and to make a good living, concentrate. And with that said, you know, if you want to get mega, mega wealthy, like stupid rich, let's just call that a billionaire with the letter B, if you want to reach that level, then I don't think that investing in rental property is the fastest or the best way to get there, although it can give you a good start. And then what's the point of this show? The point is that real estate investing is the most proven way to build wealth when you concentrate on it. If you want enough net worth and income so that you never have to work again all while you're still young enough to enjoy it, direct investment in real estate. Hey, that's great. If you want to get up to the $10 million net worth level, or even to say, $50 million that is totally doable. And the good news is that it's almost inevitable if you apply yourself and yes, concentrate, because that's all most people want, options and freedom. Those words are often a proxy for wealth. But if you're trying to get on the Forbes list of the world's wealthiest 100 people or whatever, which is where you need to concentrate on a novel business idea. All right, you can go for that, and then your risk of failure goes up substantially. You might even reach the billionaire level. As a real estate investor, more likely the DECA or the Centa millionaire level. But there are other ways of doing that outside of real estate. Real estate investing is great if you want to get sort of regular wealthy. Maybe even say that can be as little as 15 million or 25 million plus when you're young enough to enjoy it. And you know even half or 1/3 of those levels are enough as a freedom number for most people. With all that said, when you concentrate to build wealth, you do have to pick a proven vehicle. You can't say you're going to concentrate on sports gambling or prediction markets like call sheep or polymarket. They are not proven wealth building vehicles. Most people lose money on Poly market if you've wagered your mortgage that Mr. Beast is going to be the next President of the United States, perhaps reconsider that approach. In fact, according to an analysis that Bloomberg just performed, nearly every poly market trader either loses money or they make little or no profit. More than 100,000 accounts lost $1,000 since the start of last year, and that is twice the number of accounts that made at least $1,000 in aggregate, traders lost $131 million on this prediction market over that time, the tiny number of accounts that make lots of money appear to be mostly bots. That's what Bloomberg found. And there was a separate study that found that since 2022 69% of traders lost money, while three quarters of total profits were won only by the top 1% of users. So gambling, wagering, this speculation, it is not a proven vehicle, and it's not the same as investing. The cleanest way to think about the difference is that investing means putting money into something that produces value over time. Instead, gambling means putting money at risk on an outcome that you cannot influence, usually with a negative edge. And gosh, one reason that this is on my mind is, you know how I recently shared with you that I stayed at the Bellagio in Vegas. I didn't gamble at all. And in fact, I don't even know if I'm going to stay there again. That's just not congruent with who I am. But I marveled with my mouth agape when I watched a few games at the roulette wheel. Yeah, you're allowed to watch if you're not gambling. A typical scene is that perhaps five players were wagering their chips at the roulette wheel. Now the way it works is that the casino, they often have two and sometimes three of their own staff, like uniformed employees, that are there facilitating and monitoring the roulette wheel. I mean, look right there, if the casino is paying two or three staff members to facilitate the roulette wheel, well, the player should know that the odds are tilted against them. I mean, those casino dealers make, you know, they usually just make 50 to 70k a year with tips, all right, well, so the house needs to have enough of an advantage to pay their employees that are at that table and still profit. And they sure do profit. If you don't understand the game, when you play roulette, you can basically either wager that the ball is going to land on either red or black, but two of the 38 spaces on the wheel are green. They benefit the house directly. So with every bet that a player makes, they've got 18 winning spots and 20 losing spots. This is why roulette, like most gambling schemes, is for losers. And this roulette metaphor, I mean, this is a easily intuitive example for How the house has the advantage, whether it's the DraftKings app on your phone or it's a physical in person Casino. And look, I had another Uber driver recently. Yeah, lots of Uber drivers in my life lately, as I've been traveling in Pennsylvania, New York, California and Nevada, all right, interestingly, this uber driver is a dealer at the Horseshoe Casino, which is near the center of the Las Vegas Strip. While he drove me around, he opened up and told me that he doesn't understand why anyone is a serious gambler in his life history, he divulged to me that he has never known one long term winner. That's a gambler. It's amazing that he would admit that himself as an employee there. So suffice to say, wealth is built through concentration, not diversification, and certainly not through gambling.    Keith Weinhold  20:56   How should you think of building wealth for yourself at different age profiles, 20,25,30,35, and so on. I'll discuss each age profile that's next. I'm Keith Weinhold. You're listening to get rich education.    Keith Weinhold  21:13   What if you got your mortgage loans the same place I get mine. You sure can at Ridge lending group NMLS, 42056,they provided GRE listeners with more loans than anyone. Because Ridge specializes in investment property, they'll help you build a long term plan for growing your real estate empire with leverage. Start your pre qual and even chat directly with President chailey Ridge while it's on your mind, start at Ridge lendinggroup.com that's Ridge lendinggroup.com   Keith Weinhold  21:44   Let me ask you something, if you've worked hard to build wealth, is your money positioned to actually support your goals? A lot of accredited investors leave capital sitting in cash because it feels safe, but inflation and missed income opportunities can quietly erode its value. Freedom family investments offers freedom notes for investors seeking structured income backed by real estate. It's a straightforward approach built on real assets, not speculation. In full disclosure, I'm an investor myself. What I like is that their team walks you through how it all works, so you can decide if it aligns with your portfolio and income goals, every investment carries risk and nothing is guaranteed, but with a track record of consistent on time investor payouts, they built real credibility. Go to freedomfamilyinvestments.com to book a clarity call or text. Family 266, 866, that's family 268,66   Ted Sutton  22:48   Hey, it's corporate, directs Ted Sutton. Listen to get rich education with Keith Weinhold, and don't quit your Daydream.   Keith Weinhold  23:02   welcome back to get rich Education. I'm your host, Keith Weinhold, and you're listening to Episode 605 let's talk about some age profiles, because your life isn't random, it's staged. And if you understand the stages, I'll take it from age 20 up to age 40 or perhaps 50, because I don't have experience yet with being older than them. And then you can stop guessing and start engineering your future. Let's discuss mindset and then some tactics on how to build wealth in five year increments, largely through real estate, starting with age 20, at this stage, you're not behind you are early, though. I do know some people that have owned rental property at age 18 and 19. For the most part, your job isn't to invest yet. Your job is to build awareness and identity. Listen to shows like this one that you're listening to right now, even though you might be in college or trade school or have some employment, yes, as an employee, start thinking like an owner at this time you're installing your financial Operating System. Most people are 20 are consuming entertainment. You you're consuming direction. You're thinking, how can I set up a life where I'm not living below my means, which will always limit you? You're thinking, how can I grow my means at age 25 let's say you're out of school, you have a job and you're only making 65k per year if you're living with your parents, that means you can accumulate more liquidity. I don't like to say that you're becoming a saver, because that does not wire your mind for wealth, but that's effectively what you're doing. You're trying to amass some Liquidity, some capital formation is taking place. If you only have, say, $30,000 of cash amassed, well, then you're not ready for real estate, unless perhaps you're doing an owner occupied FHA loan in a duplex or a fourplex with a three and a half percent down payment. If you've got credit card debt. That's at 21% APR. You do want to retire that first age 25 is when you're likely to have student loan debt. The average student loan debt balance at age 25 is about 35k and the interest rate is 7% as long as your income is stable. You know, I didn't focus on paying down my student loans at age 25 I mean, why would I? Why should you I invested first? Because you might feel like having student loans slows you down, and it does, but not accumulating assets is what will keep you stuck so you're 25 when do you buy your first income producing asset? Say you've just got 20 to 30k accumulated liquid. That is still a little early to buy your first rental property, because that first property that would take all of what you had accumulated, that down payment would take it all like for an out of state turnkey property, and you've always got to stay a little liquid, but sooner than later, you have got to increase your income and own some real assets. If you accumulate instead 60k cash and the cheapest decent investment property would probably take something like a 30k down payment in closing costs right now, all right. Well, that tilts toward pulling the trigger and doing it because you've got some buffer. Now, you're still learning along the way, but you're learning really begins when you own your first property. Now, if you happen to live in an investor advantage place, oftentimes in the Midwest or south, perhaps the inland northeast, well then maybe you buy locally. But if you live in a pricey Metro at age 25 then you are probably rent vesting instead. What rent vesting means is that you're paying rent in, say, New York City, and you own property that you rent to others in, say, Chattanooga, Tennessee, that's called rent vesting. And you might pick up more than one property in your late 20s by age 30. Okay, look, this is when your cumulative better decision making really starts to show your trajectory has diverged from the herd, and it's really becoming noticeable to your peers, because your past decisions start compounding here by age 30. This is where you can benefit from modeling if you see someone like you that's doing what you want to do now, you can see yourself doing it. That's called modeling, and this is where your confidence grows. We'll say that now you're married at age 30, and you have a young child. You and your spouse make 175k together. You still have student loans, but you definitely own some real estate by now, we'll even say that you own your own home, your primary residence. By 30 you have a pretty good understanding of financing, property management and markets. By age 35 now you're investing in multiple real estate markets, and this is fueled because you've now done cash out refinances of your earlier properties into some more properties, and that means that you don't even have to use all of your own money in order to buy other properties and make down payments on them. So by age 35 your mindset has shifted from how do I buy a property over to how do I build a machine that buys properties, and this is where scale happens for you, you want to be sure to stay in your lane of competence and avoid chasing shiny objects again. Concentration over diversification by 35 it's become so apparent that you're glad that you did what you did. Other people are still doing things like working a lot of overtime and missing dinners. Maybe you do a little of that, but you don't have to do that. You're happy that you were strategic and you took the actions necessary so that your life doesn't feel like spinning on a hamster wheel like it does for everybody else, and it might still feel that way for you, too, but you are able to see a way out of that. And some people retire with real estate investing by age 35 but in this case, let's just say that you're not. Most aren't, but by now, you are getting so far ahead Of your old peers that you are definitely saying something to yourself, like, wow, indeed, capital compounds and labor doesn't this is the time in your life for this type of epiphany. Let's see where you are by age 40, and by the way, let's acknowledge that the average age of the first time homebuyer is now fully 40 in America. But by listening to this show and following the path that we help you with and engaging with our coaching and reading our newsletter, you are well ahead of this now I have a traditional financial advisor friend who says that he recently shared with me that he thinks a couple is in good shape if they have a net worth of $2 million by age 40. I don't know about that, though, if it's $2 million and a soldier in a 401 K that's locked away and it's not producing any income, that's a poor trajectory for the 40 year old couple. Sheesh, it's still a minimum of 20 more years from there until you can access 401K money, penalty, free. And, yes, there are some workarounds, but that's generally the picture. Well, instead, if you're a 40 year old couple with $2 million dollars in real assets. Oh, now you're in a substantially better position than if it were in some illiquid, conventional retirement plan. If it's in real assets. Oh, now you've got all these options. It could be producing income. You've got tax advantages that are greater than a 401, K, you might be able to access some of the equity, tax free, with a refi and plus say that your $2 million in equity is leveraging $5 million in real assets. Well, then, with 5% appreciation that alone is growing your net worth by $250,000 every single year, in addition to everything else that it's doing for you, yeah, talk about diverging from the herd. $2 million of equity in real assets crushes. Having that amount in a 401 K for you as part of a 40 year old couple, by age 45 you could very well be job optional. You could have teenage kids now, so you've got some expenses, you've been cash out, refinancing in a refi for life plan. Now your properties regularly are able to buy more properties for you, so that you aren't spending your own money on them. Instead, you're spending your own money on travel and living a better life than those others that are soullessly grinding at age 45 and yes, by the way, let's acknowledge that there would be ways for you to borrow out of a 401, k as well, but they're less forgiving than borrowing against your real assets after this period of time for you, you're getting into your late 40s, it is less about accumulation and it's more about optimization and freedom. I mean, you're soon asking, What do I want my life to look like? And you're not asking, How do I make more money? And at age 50 plus, since I really don't have much life experience here, you've probably done a number of 1031, exchanges, or you're even doing 721, exchanges, if you're substantially older than this saying that you want to retire from landlording. Now, one big lesson learned here is that early on, that focus, that concentration, is what allowed you to diverge from the herd that played small with diversification. One thing to be aware of when you're asking yourself that question, how much is enough? You're asking, how much is enough? Well, today, a five to $6 million dollar net worth that can usually generate enough income so that you don't have to work anymore. But people have a propensity to move the goalposts. It's most natural to think that you need to have twice as much as what you have now. Almost everybody inevitably thinks his way. If you've got 100k to your name, you think you've got it made. If you have 200k and if you've got 5 billion, you think you will need 10 billion. Be aware of that propensity to move the goalpost the amount that you think you need is almost always double what you have right now. And of course, in the words of the late George Foreman, the question isn't at what age I want to retire, it's at what income. Even conventional retirement planners will tell you that they just need to know two things in order. A plan for you, how much monthly income are you going to need, and how long you're going to live. And I think they've got that part right now. As you listen to those age profiles, you might have felt yourself ahead of that pace, on that pace, or behind that pace. There's a good chance that you were behind that pace, because by age 20, most people just don't adopt the abundance mentality that early. Most people drift through these decades, but if you understand the sequence, it's really this, learn, then earn, then buy, then scale and then optimize and be sure that you're living the entire time. The really good news for you is that you don't need luck. You need alignment with the stage that you're in. And if you get that right, you don't just build wealth, you build a life where money works harder than you do. Most people that try to do that get their money to work harder for them, well, that approach does not work until it's too late, but it works out for us because we ethically crowdsource other people's money to work harder than we do. To review what you've learned today. Wealth is built through concentration, not diversification. And from a young age, set up your life not to live below your means, but to grow your means. I'll talk to you again next week. Until then, I'm your host. Keith Weinhold, don't quit your Daydream.   Unknown Speaker  36:42   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  37:10   The preceding program was brought to you by your home for wealth building, get rich education.com  

In this episode of The Canadian Investor Podcast, Simon and Dan break down Greg Abel’s first Berkshire Hathaway annual meeting as CEO and what it says about the future of the company after Warren Buffett. They discuss Berkshire’s nearly $400 billion cash pile, whether it is a sign of excessive caution or disciplined capital allocation, and why patience can look like a mistake when markets keep moving higher. They also look at Berkshire’s insurance business, BNSF Railway, energy exposure, AI-related power demand, stock buybacks, and why the conglomerate structure still matters. In the second half of the episode, Simon and Dan shift to private markets and the growing interest in companies like OpenAI, Anthropic, Stripe, Perplexity, and other pre-IPO businesses. They explain how platforms like EquityZen and Forge Global work, the risks of buying private company shares, and why access alone does not necessarily mean a good investment opportunity. They also discuss accredited investor rules in Canada and the U.S., whether those rules actually protect investors, and why wealth is a poor substitute for financial sophistication. Tickers of stocks discussed: BRK.B, AAPL, MSFT, NVDA, GOOG, UNH, IFC.TO, AP.UN.TO Subscribe to our Our New Youtube Channel! Check out our portfolio by going to Jointci.com Our Website Our New Youtube Channel! Canadian Investor Podcast Network Twitter: @cdn_investing Simon’s twitter: @Fiat_Iceberg Braden’s twitter: @BradoCapital Dan’s Twitter: @stocktrades_ca Want to learn more about Real Estate Investing? Check out the Canadian Real Estate Investor Podcast! Apple Podcast - The Canadian Real Estate Investor Spotify - The Canadian Real Estate Investor Web player - The Canadian Real Estate Investor Asset Allocation ETFs | BMO Global Asset Management Sign up for Fiscal.ai for free to get easy access to global stock coverage and powerful AI investing tools. Register for EQ Bank, the seamless digital banking experience with better rates and no nonsense.See omnystudio.com/listener for privacy information.

How can immigration lawyers build a more flexible, profitable, and AI-ready practice? In Episode #471 of the Immigration Lawyers Toolbox Podcast, John sits down with recurring guest Roman Zelichenko, JD, to discuss global mobility conferences, LinkedIn algorithm changes, AI-driven client referrals, remote immigration law practice, and the benefits of specializing in a niche practice area. They also share practical insights on legal marketing, GEO (Generative Engine Optimization), and how immigration attorneys can create more freedom while growing a modern law firm. Timestamps: 00:00 Opening 00:33 Intro 05:11 Roman Returns from Europe Trip 06:07 European Relocation Conference & Global Mobility 09:36 AILA GMS Conference in Krakow 12:20 Referral Networks & International Connections 13:09 Getting Stuck in Poland During the War 15:00 Creating a Remote Immigration Practice 21:33 The Power of Niching Down in Immigration Law 22:23 Building a Marriage-Based Immigration Practice 24:41 Repeat Clients, Referrals & Revenue Growth 26:09 ILT Community Announcement 26:53 AI Referrals, GEO & Marketing Trends 30:01 Boundaries, Premium Pricing & Better Client Service 33:03 Limiting Clients & Maintaining Quality Service 35:12 Warren Buffett vs. Busy Calendars Mindset 50:28 Closing Spotify | iTunes | YouTube Music | YouTube Follow eimmigration by Cerenade: Facebook | Instagram | LinkedIn Start your Business Immigration Practice! (US LAWYERS ONLY - SCREENING REQUIRED): E-2 Course EB-1A Course Get the Toolbox Magazine!  Join our community (Lawyers Only) Get Started in Immigration Law! The Marriage/Family-Based Green Card course is for you Our Website: ImmigrationLawyersToolbox.com Not legal advice. Consult with an Attorney. Attorney Advertisement. #podcaster #Lawyer #ImmigrationLawyer #Interview #Immigration #ImmigrationAttorney #USImmigration #ImmigrationLaw #ImmigrationLawyersToolbox

Value: After Hours is a podcast about value investing, Fintwit, and all things finance and investment by investors Tobias Carlisle, and Jake Taylor. ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Soldier of Fortune: Warren Buffett, Sun Tzu and the Ancient Art of Risk-Taking⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ (⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Kindle⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠)We are live every Tuesday at 1.30pm E / 10.30am P.See our latest episodes at https://acquirersmultiple.com/podcastAbout Jake Jake's Twitter: https://twitter.com/farnamjake1Jake's book: The Rebel Allocator https://amzn.to/2sgip3lABOUT THE PODCASTHi, I'm Tobias Carlisle. I launched The Acquirers Podcast to discuss the process of finding undervalued stocks, deep value investing, hedge funds, activism, buyouts, and special situations.We uncover the tactics and strategies for finding good investments, managing risk, dealing with bad luck, and maximizing success.SEE LATEST EPISODEShttps://acquirersmultiple.com/podcast/SEE OUR FREE DEEP VALUE STOCK SCREENER https://acquirersmultiple.com/screener/FOLLOW TOBIASWebsite: https://acquirersmultiple.com/Firm: https://acquirersfunds.com/ Twitter: ttps://twitter.com/GreenbackdLinkedIn: https://www.linkedin.com/in/tobycarlisleFacebook: https://www.facebook.com/tobiascarlisleInstagram: https://www.instagram.com/tobias_carlisleABOUT TOBIAS CARLISLETobias Carlisle is the founder of The Acquirer's Multiple®, and Acquirers Funds®. He is best known as the author of the #1 new release in Amazon's Business and Finance The Acquirer's Multiple: How the Billionaire Contrarians of Deep Value Beat the Market, the Amazon best-sellers Deep Value: Why Activists Investors and Other Contrarians Battle for Control of Losing Corporations (2014) (https://amzn.to/2VwvAGF), Quantitative Value: A Practitioner's Guide to Automating Intelligent Investment and Eliminating Behavioral Errors (2012) (https://amzn.to/2SDDxrN), and Concentrated Investing: Strategies of the World's Greatest Concentrated Value Investors (2016) (https://amzn.to/2SEEjVn). He has extensive experience in investment management, business valuation, public company corporate governance, and corporate law.Prior to founding the forerunner to Acquirers Funds in 2010, Tobias was an analyst at an activist hedge fund, general counsel of a company listed on the Australian Stock Exchange, and a corporate advisory lawyer. As a lawyer specializing in mergers and acquisitions he has advised on transactions across a variety of industries in the United States, the United Kingdom, China, Australia, Singapore, Bermuda, Papua New Guinea, New Zealand, and Guam. He is a graduate of the University of Queensland in Australia with degrees in Law (2001) and Business (Management) (1999).

Don and Tom react to the gold-pushing radio show that replaced Talking Real Money, breaking down misleading claims about gold investing, TSP accounts, and “tax-free” gold IRAs while exposing the fear-based marketing behind precious metals sales. They contrast long-term investing with speculation, discuss Jamie Dimon comments taken wildly out of context, and explain why gold's recent surge says little about the future. Listener questions then shift the conversation toward international diversification, currency risk, sector tilts, Warren Buffett's investing philosophy, and the dangers of overly aggressive retirement portfolios.0:05 TRM celebrates escaping radio before being replaced by a gold-selling show0:41 Listening to “Striking Gold” and Jamie Dimon's gold comments taken out of context2:05 Gold sales commissions and fear-driven retirement marketing3:12 Gold's recent run versus long-term stock market returns4:18 Debunking claims that TSP assets are endangered by USPS finances5:30 Why fear and instability have driven gold prices higher lately5:55 Gold's massive decline from 1980 through 20007:07 Problems with comparing physical gold to cash savings7:38 Misleading claims about tax-free gold IRA withdrawals9:04 Gold IRA marketing tricks and Roth IRA confusion9:57 States stockpiling gold and why it may be a bad long-term idea10:30 Prepper logic: why ammo and canned food matter more than gold11:30 The economics behind nationwide gold radio advertising12:28 Listener calls, Auschwitz exhibit voiceover talk, and Chad's international investing question13:39 AVGE, international equities, and whether currency risk matters15:30 Emerging markets, currency swings, and diversification benefits16:15 Japan's lost decades and the importance of global diversification17:37 Why AVGE is a strong long-term diversified fund18:07 Why multinational U.S. companies are not true international diversification19:28 Robert asks about sector tilts and Warren Buffett underweighting financials20:46 Why sector overweighting lacks strong evidence21:32 The factors that actually have long-term data behind them22:52 Buffett's advice for regular investors versus Berkshire's strategy24:05 Francisco's $1.5 million retirement portfolio reviewed25:34 Concerns about low bond exposure and large-cap concentration27:12 Bond funds versus CD ladders and the real role of fixed income28:02 Problems with dividend-heavy retirement income portfolios28:50 “Hodgepodgey” portfolio construction and balancing risk29:05 Using the TRM risk quiz to evaluate stock/bond allocation30:04 Free fiduciary portfolio reviews from Appella advisors30:27 Tom jokes about putting gold in his least favorite brother's portfolioQuestions? Comments? Click!

Why Isn't Everyone Becoming a Fulfillionaire? with JP Newman What if your relationship to money has nothing to do with how much you have, and everything to do with the frequency you're operating from? In this episode of Why Isn't Everyone Doing This?, Emily Fletcher sits down with investor, entrepreneur, and Fulfillionaire founder JP Newman for a conversation that will permanently shift how you think about financial freedom. JP has spent decades working with high net worth individuals who achieve their financial goals and still feel empty, and he's built a framework that addresses why. The Fulfillionaire approach goes beyond net worth. JP maps out four dimensions of wealth, People, Purpose, Play, and Presence, and shows how clarity in each of these areas is what actually dissolves the scarcity loop. He introduces the concept of the freedom number (or the "plenty number"), explains how passive income works in practice, and walks through why most people are unconsciously running a strategy he calls "hope and pray." Emily shares her own story of how a single week of nervous system work with Kate Northrup helped her team identify $1.1 million in cuttable expenses, not through grinding harder, but through changing her energetic relationship to money first. This episode bridges Vedic wisdom, Judeo-Christian mystical tradition, and practical financial literacy, making it one of the most grounded and spiritually resonant money conversations in the show's history. In this episode, they explore: – The four P's of multidimensional wealth and why financial planning without them creates one-dimensional success – How to find your freedom number and stop the "hope and pray" strategy – The Vedic teaching on Lakshmi and why money wants somewhere to go – Why scarcity persists even in billionaires, and what the data on Warren Buffett's Giving Pledge reveals – The eight levels of giving according to mystical tradition, and which one creates the cleanest spiritual transaction – How Emily's energy shift produced $1.1 million in discovered savings in one week – A practical parenting strategy for teaching kids financial empowerment starting at age six – Why JP turned Fulfillionaire into a nonprofit Key Moments: 00:00 – The moment money stops being something you chase 04:30 – JP's origin story 09:00 – Why no one teaches us what winning actually looks like 14:00 – The four dimensions of Fulfillionaire wealth 21:00 – Hope and pray strategy and speculative risk 26:30 – Active vs. passive income explained 32:00 – What passive cash flow looks like in practice 39:00 – The scarcity paradox and the Giving Pledge 46:00 – Lakshmi and the Vedic view of abundance 51:00 – Emily's $1.1 million discovery 57:00 – The identity shift from scarcity to stewardship 01:04:00 – The eight levels of giving 01:11:00 – Why Fulfillionaire became a nonprofit 01:17:00 – Teaching kids about money at age six 01:24:00 – Why isn't everyone becoming a Fulfillionaire? About JP Newman JP Newman is an investor, entrepreneur, and founder of Fulfillionaire, a nonprofit dedicated to financial literacy and multidimensional wealth. He works with individuals at every stage of their financial journey to help them find their freedom number, build passive income, and create a life where money flows from wholeness rather than fear. Learn more:https://fulfillionaire.com Instagram: @thefulfillionaire MORE FROM EMILY & ZIVA: Join Ziva Magic: https://zivameditation.com/pages/zivamagic Learn Ziva Meditation: https://preview.zivameditation.com Free masterclass: https://learn.zivameditation.com Get 15% off with promo code WHYTHIS: https://whythis.zivameditation.com Follow us on Instagram: @zivameditation

Welcome back to Impact Theory with Tom Bilyeu! In this episode, Tom Bilyeu dives deep into the rapidly shifting landscape of global politics, economics, and culture. From escalating tensions in the Middle East and the U.S.-China standoff, to skyrocketing oil prices and the collapse of Spirit Airlines, Tom Bilyeu brings his unique perspective on how these world events are shaping the future. He also explores the dynamics of political polarization, the growing gender divide in ideology, and the surprising rise in unconventional asset classes like Pokémon cards. With insights into government spending scandals, new approaches to entrepreneurship using AI, and thought-provoking commentary on family, values, and societal change, this episode tackles the most pressing issues of our time. Get ready for a lively, no-holds-barred discussion on what it means to navigate success, identity, and impact in a world on the brink of transformation. Blinkist: Start your free trial at https://blinkist.com/impact AT&T Business: Switch to AT&T Business at business.att.com Quince: Free shipping and 365-day returns at https://quince.com/impactpodMonetary Metals: Future-proof your wealth at https://monetarymetals.com/impactTruemed: Check your eligibility and start saving at https://truemed.com/impactShopify: Sign up for your one-dollar-per-month trial period at https://shopify.com/impactKetone IQ: Visit https://ketone.com/IMPACT for 30% OFF your subscription order What's up, everybody? It's Tom Bilyeu here: If you want my help... STARTING a business: join me here at ZERO TO FOUNDER:  https://tombilyeu.com/zero-to-founder?utm_campaign=Podcast%20Offer&utm_source=podca[%E2%80%A6]d%20end%20of%20show&utm_content=podcast%20ad%20end%20of%20show SCALING a business: see if you qualify here.:  https://tombilyeu.com/call Get my battle-tested strategies and insights delivered weekly to your inbox: sign up here.: https://tombilyeu.com/ ********************************************************************** If you're serious about leveling up your life, I urge you to check out my new podcast, Tom Bilyeu's Mindset Playbook —a goldmine of my most impactful episodes on mindset, business, and health. Trust me, your future self will thank you. ********************************************************************** FOLLOW TOM: Instagram: https://www.instagram.com/tombilyeu/ Tik Tok: https://www.tiktok.com/@tombilyeu?lang=en Twitter: https://twitter.com/tombilyeu YouTube: https://www.youtube.com/@TomBilyeu Star Wars, Project Freedom, Strait of Hormuz, Trump, US-China relations, sanctions, Iranian oil, Elizabeth Warren, Spirit Airlines, insider trading, Warren Buffett, stock market casino, SNAP benefits, government fraud, Marjorie Taylor Greene, Epstein files, political gender gap, liberal women, conservative men, US troop withdrawal Germany, Marco Rubio, Thucydides Trap, AI race, US economic decline, Argentina budget, K-shaped economy, financial repression, Gen Z political divide, hypergamy, male-female dynamics, inflation Learn more about your ad choices. Visit megaphone.fm/adchoicesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Welcome back to Impact Theory with Tom Bilyeu! In this episode, Tom Bilyeu dives deep into the rapidly shifting landscape of global politics, economics, and culture. From escalating tensions in the Middle East and the U.S.-China standoff, to skyrocketing oil prices and the collapse of Spirit Airlines, Tom Bilyeu brings his unique perspective on how these world events are shaping the future. He also explores the dynamics of political polarization, the growing gender divide in ideology, and the surprising rise in unconventional asset classes like Pokémon cards. With insights into government spending scandals, new approaches to entrepreneurship using AI, and thought-provoking commentary on family, values, and societal change, this episode tackles the most pressing issues of our time. Get ready for a lively, no-holds-barred discussion on what it means to navigate success, identity, and impact in a world on the brink of transformation. Blinkist: Start your free trial at https://blinkist.com/impact AT&T Business: Switch to AT&T Business at business.att.com Quince: Free shipping and 365-day returns at https://quince.com/impactpodMonetary Metals: Future-proof your wealth at https://monetarymetals.com/impactTruemed: Check your eligibility and start saving at https://truemed.com/impactShopify: Sign up for your one-dollar-per-month trial period at https://shopify.com/impactKetone IQ: Visit https://ketone.com/IMPACT for 30% OFF your subscription order What's up, everybody? It's Tom Bilyeu here: If you want my help... STARTING a business: join me here at ZERO TO FOUNDER:  https://tombilyeu.com/zero-to-founder?utm_campaign=Podcast%20Offer&utm_source=podca[%E2%80%A6]d%20end%20of%20show&utm_content=podcast%20ad%20end%20of%20show SCALING a business: see if you qualify here.:  https://tombilyeu.com/call Get my battle-tested strategies and insights delivered weekly to your inbox: sign up here.: https://tombilyeu.com/ ********************************************************************** If you're serious about leveling up your life, I urge you to check out my new podcast, Tom Bilyeu's Mindset Playbook —a goldmine of my most impactful episodes on mindset, business, and health. Trust me, your future self will thank you. ********************************************************************** FOLLOW TOM: Instagram: https://www.instagram.com/tombilyeu/ Tik Tok: https://www.tiktok.com/@tombilyeu?lang=en Twitter: https://twitter.com/tombilyeu YouTube: https://www.youtube.com/@TomBilyeu Star Wars, Project Freedom, Strait of Hormuz, Trump, US-China relations, sanctions, Iranian oil, Elizabeth Warren, Spirit Airlines, insider trading, Warren Buffett, stock market casino, SNAP benefits, government fraud, Marjorie Taylor Greene, Epstein files, political gender gap, liberal women, conservative men, US troop withdrawal Germany, Marco Rubio, Thucydides Trap, AI race, US economic decline, Argentina budget, K-shaped economy, financial repression, Gen Z political divide, hypergamy, male-female dynamics, inflation Learn more about your ad choices. Visit megaphone.fm/adchoices

This week: Google's parent company Alphabet announced an incredible $110 billion in first-quarter revenue thanks, in part, to the computing needs of the AI boom. Felix Salmon, Elizabeth Spiers, and Emily Peck, discuss the shocking earnings report and the reasons to doubt it as a sign of future growth, including the internet's ever-evolving information economy. Then, they get into Bill Ackman once again trying and failing to make a closed-end fund happen, and why he'll never be Warren Buffet. Finally they'll examine the utility of corporate merch, such as Palantir's french chore coat, and company retreats, like the Plex's disastrous Survivor-themed getaway. In the Slate Plus episode: Can you have a Tiktok and a job on Wall Street?Want to hear that discussion and hear more Slate Money? Join Slate Plus to unlock weekly bonus episodes. Plus, you'll access ad-free listening across all your favorite Slate podcasts. You can subscribe directly from the Slate Money show page on Apple Podcasts and Spotify. Or, visit slate.com/moneyplus to get access wherever you listen. Podcast production by Jessamine Molli and Cheyna Roth. Hosted on Acast. See acast.com/privacy for more information.

On this episode of 2 Pros & A Cup Of Joe, Jonas Knox, Brady Quinn, & LaVar Arrington discuss Warren Buffet's comments on sports betting. Plus, the guys spin the wheel of horses, go over Cleveland hosting a Super Bowl potentially, and much more!!See omnystudio.com/listener for privacy information.

On this Friday edition of 2 Pros & A Cup Of Joe, Jonas Knox, Brady Quinn, & LaVar Arrington recap the NBA Playoffs such as the Timberwolves taking the down the Nuggets to move on and also talk about some anti-tanking insights. Plus, the guys go over Warren Buffet's comments on sports betting, we have a Cadbury edition of ICYMI, and more!See omnystudio.com/listener for privacy information.