Episode 110: Investments

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Welcome back to another episode
of Record, my father.

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Today we're going to be talking
about investments, maybe some

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investment knowledge or ways to
invest.

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They were also past investments
that we've had.

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I got lucky with GameStop in
2019.

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I believe some somewhere in the
pandemic.

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I held it since 2018 or 2017,
maybe somewhere in there.

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And yeah, I know I got really
lucky there 'cause I believed in

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the company.
I had been buying video games

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from that company since I was
born, really.

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And it kind of paid off, Kind of
paid off really Well.

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You know, you never know what
will happen.

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Yeah, I think that, that I, I
think the thing that's really

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funny is, is the, I remember
when you invested in it and it

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was, it was, it was at 3 or 4
bucks a share and you bought

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1000 shares, which I thought was
kind of crazy.

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But I also remember that I, I
was pushing the whole Buffett

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philosophy through high school
and everything is, is that you

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invest in what you know, you,
you should not, you should look

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at things that you understand.
You know, that's why you said I

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don't invest in the Internet
because I don't, I don't do

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crypto or I don't do this
because I don't understand it.

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And you can lose everything if
you don't understand it or you

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can gain everything.
But if you understand something,

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you should, you know, understand
all the different things.

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Well, when you came to me and
you said, Hey, I'm going to buy

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some GameStop and you want it
like, and it was like all the

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money you had or most of the
money you had, you were going to

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buy it one stock.
I thought, well, that's not

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diversification, but this is
going to be a really, really.

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And you know, you knew GameStop
a lot.

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You knew all about it, but it
was a it was a brick and mortar

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business and everything was
online.

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We had what was that Terafly or
whatever the fly thing was that

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was mailing the disk to people.
I remember everybody was doing

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games that way.
They weren't really.

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It wasn't.
It hadn't really started the.

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Heavy GameFly, there we go.
Yeah, only they didn't have

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things online exclusively.
You would buy into things and

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buy and get, you know, get your
games.

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And now like 90% of the games
are free and then you pay stuff.

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But at that point it wasn't.
But all I could see for GameStop

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was all I could see was like
blockbusters, like, OK, they're

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going to stop.
People are going to stop going

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there and renting games.
And then that's the end of it

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and it's done.
He's put his, all of his money

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from high school and half of it
or whatever it was from college,

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all the savings that you had.
And he, and this is the thing he

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knows the best about.
He buys it and and and this is

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from a parental view.
And I'm thinking like, OK, he's

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going to learn the hard way what
happens, You know, you know,

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it's the life of Hard Knocks.
And I was kind of all for that.

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Well, I think you held it for
three or four years.

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It wasn't just like one.
It was, it was, if I remember

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correctly, it was a longer time.
And then when he then we were

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like, and then it popped.
And I mean, because they had

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the, they had the crazy wars and
that was a few years ago.

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That's before you went to LA and
basically you're living off

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your, that all that money.
I mean, you, I thought that it

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went to it was like 240 or 280
in that range, or maybe it was

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190, something like that because
you, you, I, I don't remember

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what the number was, but.
It was $82 a share or something.

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I think it was something like
that.

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And then, no, it wasn't.
And then because it went to 300

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the next day and I could have
made trouble what I made, which

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would have been awesome.
But you know what?

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I'd actually what I remember you
paying taxes of 45.

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That year, yeah, that was great.
Oh well, that was because of AMC

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as well.
I bought AMC in the same.

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Year the same thing.
You had more than one.

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Yeah, you bought stuff that was
a crazy.

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Year.
Yeah, but you like I remember.

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Your I think Occidental was the
same year as well.

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Right.
You had 180.

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I I thought you made something
like 181.

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Oh yeah, it was like 180 or
something like that.

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And then I was like, I'm going
to start a hedge fund.

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Everybody's a you should start a
hedge fund.

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And I was like, oh sure, maybe.
And you're like, no, I'm going

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to use this to live off of the
next five years and.

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That's pretty much what I've
been doing.

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And then now it's pretty much
entirely going into my business,

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which who knows will be a
failure or not.

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But, you know, yeah, we're going
to try to not.

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To buy lottery tickets, but I
remember that and and then when

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you came to me and it's like
whether or not you should sell

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like when do you sell a stock?
The, I mean the, the, the, the

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typical knowledge is well, you
sell a stock when you don't

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think it's got it's going to go
up anymore.

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But if it's already gone up a
ton and you don't know why

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because I mean, you knew it was
a meme stock, so these things

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were just popping up and down
the.

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Volatility was crazy.
Yeah, the volatility was really.

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Really it was moving 50 points a
day, which is just nuts, you

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know, and that was 50, $1000 for
you.

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So it was not just like a little
bit of money.

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So it was huge, but you sold it.
And because I remember asking

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you, I said, well, if it drops
down to like 40, you know, cut

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cuts in half, whatever the price
was.

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And I thought it was, but
whatever, if it cuts in half,

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what how you going to feel?
You're going to be totally just

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and you were like, I'd be all
upset and destroyed and

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everything I said if and and if
you didn't sell it, I said,

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well, if you did sell it and it
double s, what are you going to

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say?
Well, I got my money.

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I didn't, you know, No more.
No pay, no gain, you know?

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Exactly.
Well, that's what, because I

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know a lot of people actually
that walked away with nothing

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because they waited.
They waited a long time, right?

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And then I think it went to 330
Max.

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And then the next day it went
back down to $4.00 I think.

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And also this time they were
doing after hours trading.

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And then I began to have a
certain level of distrust in the

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the market and what was going
on, especially because those

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that I could do after hours
trading, that's that shit should

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be illegal.
The big guys, I hate that.

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That should be illegal.
But yeah, but yeah, no, I think

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about that.
And I was like, they're going to

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try to turn this way because
they were getting really mad.

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Yeah.
Yeah, the big guys were really

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mad because Robin Hood was taken
off and it was not your standard

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exchange.
And there was a whole lot of

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argument that wow, this is bad,
this is bad, this is bad for

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business, This is bad for all
this stuff because these guys

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are making all this money and
we're not because they weren't

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good, you know, because when you
think about it, the more we buy

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and sell, the more JP Morgan,
the more city anybody that's a

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trading exchange.
They make a piece of every

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single security when it's
bought, bought and when it's

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sold.
So that's, that's, that's their

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profitability.
That's why when you see all this

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volatility in the market now
you're going to see huge amounts

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of trading profits that are
they're posting in the first

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couple quarters of Wall Street.
You know, it's just like, wow,

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they're making a whole lot of
money and it messed.

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It's not necessarily just
because they're buying something

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and it's going higher.
It's the fact that, hey, when

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you sell $100, I get, I get half
a point or 1/4 point.

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When you sell $1,000,000, I got
a half a point or 1/4 point.

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When you sell a billion dollars,
I got 1/2, you know, and it's

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like, but you know, you're
talking a trillion dollars a day

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moving through the market up or
down and just crazy.

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Everybody was buying and
everybody selling they're like,

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oh, up, oh, down, oh up, oh,
down, you know, that kind of

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stuff.
It just.

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Goes crazy fluctuations.
You know, if it's like you, you,

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you think about it and like,
what are the, what are the long

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term thing?
And when I talk to you about

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investing, it's like it goes
back to me.

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I mean, when I started truly
investing, I didn't, I had my

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first savings account when I was
11 years old.

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I used to put, they took me over
to Piedmont Federal Savings and

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Loan.
I have my little savings book,

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passbook savings, the 5 1/4%.
I mean, I know that's kind of

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crazy.
And this would have been in like

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1968 or something, 1970,
somewhere around that time, I've

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put money in the bank and I
earned, I had odd jobs.

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I did, I worked as a gardener
where I currently live.

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And I would make 20 bucks a week
and I would put 10 bucks in

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there.
And it was always about saving

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for the future.
And that went into an account.

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And that account ordered 545 and
1/4, which wasn't, I mean, it

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was nothing.
The interest itself was, was not

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a big thing at the time until
later.

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I, I never really went anywhere
other than buying than than

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buying CDs.
And I bought CDs basically for

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the idea to make myself not chip
away at my savings.

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If I bought, if I had, you know,
$5000 in the bank.

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And I, and the weird thing is I,
when I went to school, I had

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like $15,000.
No, no, I didn't have that.

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Did I have that much?
No, I didn't.

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I didn't.
I ran out of it.

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I ran through all my money
paying for college and then

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right at the end of college
within a year, I'd say 15,000.

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And people are like, what the
hell did you do that?

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And it's like, well, I, I don't,
I put it away.

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I put it, you know, and I, and
at that time you, you couldn't,

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my first professional job, I, I,
you weren't allowed to invest in

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individual stocks.
You're not supposed to.

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I invested in mutual funds
because I'd heard about this

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thing and I started online and I
said, Hey, take 100 bucks a week

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or two weeks every two weeks out
of my paycheck.

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And I never.
And what you do is you adjust

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your lifestyle to having that
much less money in it.

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Now, if you got to feed
yourself, you can't do that.

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I was, I was in a very good
situation where I had a

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roommate, I had a, I had a car
payment and I had a insurance

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and I didn't have to pay for
healthcare.

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I didn't have to pay for any of
that other stuff.

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Gas to and fro food was all
pretty cheap.

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And I worked as a, as a doorman
downtown at a bar.

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So I didn't have a whole lot of
problems with stuff like that.

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You know, I did.
And I also still worked on

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weekends sometimes as a
gardener, you know, or, or would

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do things like that for other
monies, which would be my, my

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party money.
And then I would actually take

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the real money and put it in the
bank and then I would take that

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and I would roll in it.
Once I got like 2500 bucks

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together, I buy a five year CD
because I couldn't touch it.

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So then I would have saved $2500
that I couldn't deal with for

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five years because yeah, you've
suffered penalties and interest

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and blah, blah, blah, blah,
blah, you know, that kind of

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stuff.
So I didn't touch it.

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And that was one of the ways
that I was allowed to accumulate

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large chunks of cash early on is
because if, if I just had it in

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my bank account, I would have
like, oh, wow, stereo system,

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I'll buy that.
Oh, wow, I have the money.

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It's like, what's the big deal?
Instead, I only had two 200

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bucks in my savings account and
that covered my payments for the

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rest of the month.
And if I wanted to buy something

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big, I would have to save it up
from that as opposed to the CD.

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And then by the time I saved up
enough money to do it, I'd be

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like, I don't really want it
anymore.

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I don't care.
I'll put, I'll take that.

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I had five grand, you know, and
that's like when I started the

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first company, I had $15,000
saved or yeah, like 15 or 20,

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something like that.
But, and that was in two, 2 1/2

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years.
I was wrong.

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00:11:27,880 --> 00:11:29,840
It wasn't one year.
It was like 2 1/2 years that,

220
00:11:29,960 --> 00:11:33,320
that I got that kind of savings.
And it was kind of surprising

221
00:11:33,320 --> 00:11:38,320
that, you know, for a drunkard
who flew around the country.

222
00:11:38,360 --> 00:11:41,440
I flew around the country then
and, you know, dated people,

223
00:11:41,440 --> 00:11:42,920
that's another story all
together.

224
00:11:45,320 --> 00:11:48,400
Paid for airline tickets and,
and I always had an Amex card

225
00:11:48,400 --> 00:11:52,720
and an Amex card to me was very
good because it forced me to pay

226
00:11:52,720 --> 00:11:57,080
off all my credit every month.
I, I did not want to run a

227
00:11:57,080 --> 00:11:58,680
balance and credit.
I know a lot of people.

228
00:11:58,680 --> 00:12:01,040
Are that's where I'm at right
now is I, I pay that off every

229
00:12:01,040 --> 00:12:06,200
month because I think the APR
for, oh gosh, for Capital One

230
00:12:06,200 --> 00:12:08,600
venture is like 21% a month or
something.

231
00:12:09,200 --> 00:12:13,520
Yeah, I mean, that's, that's
five years of double s more

232
00:12:13,520 --> 00:12:17,240
actually less than 5, probably
like 3 1/2, four when you figure

233
00:12:17,240 --> 00:12:21,440
compounding.
It's not, it's just it's a bad

234
00:12:21,440 --> 00:12:22,960
way to go though.
And the number one thing you're

235
00:12:22,960 --> 00:12:25,480
supposed to do when you're and
anybody talks to you and sits

236
00:12:25,480 --> 00:12:29,840
you down, talks about investing
is credit card make go away.

237
00:12:30,040 --> 00:12:33,360
You cannot, you cannot have a
sustained plan where you have a

238
00:12:33,360 --> 00:12:35,760
large chunk of credit card debt
because you're paying 21%

239
00:12:35,760 --> 00:12:41,040
interest on past decisions, OK.
That's not going to help your

240
00:12:41,040 --> 00:12:42,720
future.
That's you've already, you've

241
00:12:42,720 --> 00:12:45,040
already had that.
You have to, you have to pay for

242
00:12:45,040 --> 00:12:49,360
that joy at some point.
And or you can continue to add

243
00:12:49,360 --> 00:12:54,720
to it and continue to pay and
go, you know, and it's like it's

244
00:12:54,720 --> 00:12:56,720
only going to grow and it's
going to continue.

245
00:12:57,240 --> 00:12:59,040
Yeah.
Well, that's why a lot of people

246
00:12:59,040 --> 00:13:00,600
are against the debit card
thing.

247
00:13:00,600 --> 00:13:01,920
And I'm like, I don't know about
that.

248
00:13:01,920 --> 00:13:05,160
I think that so many people are
so against the debit card

249
00:13:05,160 --> 00:13:07,400
thinking like, I don't know, I
know a lot more people that are

250
00:13:07,400 --> 00:13:11,360
less well off by spending a lot
on credit cards than just using

251
00:13:11,360 --> 00:13:13,560
a debit card, right?
Charge or what you're talking

252
00:13:13,560 --> 00:13:15,120
about control.
But here's the deal.

253
00:13:16,000 --> 00:13:18,800
When you use a credit card,
you're using OPM.

254
00:13:19,040 --> 00:13:20,760
Other people's money.
Yeah, I am.

255
00:13:20,880 --> 00:13:22,720
When you use a debit card,
you're using your money.

256
00:13:22,800 --> 00:13:25,880
So if somebody steals your debit
card and wipes out your account.

257
00:13:26,920 --> 00:13:29,440
That's just so unrealistic
though, because I've had

258
00:13:29,440 --> 00:13:32,640
somebody steal like $1000 out of
my account and then they I, I

259
00:13:32,640 --> 00:13:35,280
got recouped for it.
So I don't for a debit.

260
00:13:35,480 --> 00:13:39,040
Yeah, yeah, on a debit.
And I think really that's that's

261
00:13:39,400 --> 00:13:42,600
unrealistic to say yeah, that
they won't they'll recoup you

262
00:13:42,600 --> 00:13:43,320
on.
I thought that they didn't

263
00:13:44,920 --> 00:13:47,120
depending on the bank, of
course, I mean, if you're using

264
00:13:47,120 --> 00:13:49,160
Wells Fargo, they'll they'll
tell you to go fuck yourself.

265
00:13:49,160 --> 00:13:53,240
But I think that my bank is
small enough to where.

266
00:13:53,800 --> 00:13:55,360
Wow.
And they paid you And they.

267
00:13:55,880 --> 00:13:59,040
Let you.
Wow, I had, I had no idea.

268
00:13:59,600 --> 00:14:02,320
I mean, I heard that.
Yeah.

269
00:14:02,520 --> 00:14:05,800
That's what people always say.
And you know what?

270
00:14:06,640 --> 00:14:10,400
I'm I'm, I'm, I'm guilty of
accepting what people say is

271
00:14:10,400 --> 00:14:12,840
fact and not checking it.
And that's that's that's a good

272
00:14:12,840 --> 00:14:16,920
point.
But in your Case, No, I've, I've

273
00:14:16,920 --> 00:14:22,120
always been like, if you, if you
let me use your money and I

274
00:14:22,120 --> 00:14:29,720
spend $20,000 and let's say I
average 20, I get to use $20,000

275
00:14:29,720 --> 00:14:31,640
and I pay it back at the end of
the month.

276
00:14:32,480 --> 00:14:37,080
It cost me nothing.
So I get to borrow 20 grand for

277
00:14:37,080 --> 00:14:43,000
30 days, 112, which if you were
to pay 2010% on 20 grand, it

278
00:14:43,000 --> 00:14:46,120
would be $200.
And it's not that much.

279
00:14:46,120 --> 00:14:48,160
But if you think about it, it'll
be two hundred a month.

280
00:14:48,280 --> 00:14:55,160
I mean, it's like you're talking
you you can use a credit card to

281
00:14:55,160 --> 00:14:58,280
where you're using their money
and it will actually be good for

282
00:14:58,280 --> 00:15:00,120
you.
Do you know what I'm saying?

283
00:15:00,120 --> 00:15:00,960
Yeah.
Yeah.

284
00:15:00,960 --> 00:15:02,320
Or as a debit card.
He can't, but.

285
00:15:02,480 --> 00:15:05,840
But we get points and stuff like
that, so I guess the points are

286
00:15:05,840 --> 00:15:07,200
good.
We want credit cards too.

287
00:15:07,200 --> 00:15:11,920
The points are great.
I'm sure they wash and it it

288
00:15:12,040 --> 00:15:14,840
depends, you know, because
credit cards are charging the

289
00:15:14,840 --> 00:15:17,680
merchants a fee of anywhere from
3 1/2 to 4 1/2 percent.

290
00:15:18,000 --> 00:15:20,680
I mean, I've seen them like the
island fees are just.

291
00:15:20,920 --> 00:15:21,800
Asking.
Oh yeah.

292
00:15:22,400 --> 00:15:24,160
Yeah, I remember the guy saying
20%.

293
00:15:24,360 --> 00:15:27,520
Well, venture actually is 0 fee
in any foreign country.

294
00:15:28,160 --> 00:15:29,280
Really.
Yeah, for you.

295
00:15:29,280 --> 00:15:32,600
For you.
But not for the vendor and see

296
00:15:32,600 --> 00:15:34,240
the vendors.
Oh, for the vendor.

297
00:15:34,240 --> 00:15:35,840
The vendor.
Passing it on when I went to

298
00:15:35,840 --> 00:15:39,720
when we went to the hell was the
Turks and Caicos and the guy and

299
00:15:39,720 --> 00:15:41,360
we were going to no Cayman
Islands.

300
00:15:41,360 --> 00:15:44,360
So I was going to buy a box of
cigars and I and I whipped out

301
00:15:44,360 --> 00:15:47,640
my Amex card and he said, oh,
no, the price is $100 more for

302
00:15:47,640 --> 00:15:48,520
that.
I'm like, what?

303
00:15:48,960 --> 00:15:52,840
And he goes, yeah, they charge,
they charge 22% in the Cayman

304
00:15:52,840 --> 00:15:56,920
Islands a, a, a fee to the
vendors.

305
00:15:56,960 --> 00:15:59,840
And I'm like, whoa, that's
crazy.

306
00:16:00,160 --> 00:16:02,680
That's where the money's going.
It's not going in your pocket.

307
00:16:02,680 --> 00:16:06,440
It's going to the criminals at
the bank or the.

308
00:16:06,680 --> 00:16:09,360
They are just criminals.
If you think about it too, they

309
00:16:09,360 --> 00:16:11,840
are just yeah.
And if they do something, they

310
00:16:11,840 --> 00:16:14,560
they pay a fine with their
shareholders money and no one

311
00:16:14,560 --> 00:16:16,840
goes to jail, it seems.
It seems really kind of.

312
00:16:16,840 --> 00:16:19,640
I mean sort of.
Nobody's held accountable

313
00:16:19,800 --> 00:16:22,920
anymore, and it seems like less
and less people are getting held

314
00:16:22,920 --> 00:16:25,480
accountable.
For you start like like, yeah.

315
00:16:25,480 --> 00:16:29,440
And I mean everything, all the
stops are getting pulled out as

316
00:16:29,440 --> 00:16:32,720
far as like oversight in the
marketplace and things like

317
00:16:32,720 --> 00:16:34,600
that.
Yeah, well, it's like it seems

318
00:16:34,600 --> 00:16:37,160
like nothing matters anymore.
That's kind of what it seems

319
00:16:37,160 --> 00:16:38,080
like.
It seems like ethics.

320
00:16:38,080 --> 00:16:40,560
It's just not a thing.
Yeah.

321
00:16:40,720 --> 00:16:45,000
Yeah, no, I would say that your
ethics, you can't catch them and

322
00:16:45,000 --> 00:16:46,920
that's what you're finding.
But I would.

323
00:16:47,160 --> 00:16:49,400
But me personally, I think you
can.

324
00:16:49,400 --> 00:16:53,040
I think that that if you're a
decent and you say what you do

325
00:16:53,040 --> 00:16:55,320
and you do what you say and
you're you know, you, you,

326
00:16:55,720 --> 00:17:01,560
you're you're reliable and you
hold up your end of any deal

327
00:17:01,840 --> 00:17:06,280
that people other people will
want to do more deals with you.

328
00:17:06,560 --> 00:17:09,160
And that's kind of the thing,
you know, it's like whether or

329
00:17:09,160 --> 00:17:13,280
not you give them a, a hard
curveball or whatever.

330
00:17:13,280 --> 00:17:15,640
Those, those are things that
makes people go away.

331
00:17:15,640 --> 00:17:18,599
I mean, same thing investments,
you know, same thing with they

332
00:17:18,599 --> 00:17:21,400
want stability with rising
earnings forever, you know, in

333
00:17:21,400 --> 00:17:24,599
perpetuity, you know, and, and
we look at all the different

334
00:17:24,599 --> 00:17:27,440
stocks.
I mean, I've seen I, I've, I've

335
00:17:27,440 --> 00:17:33,960
had some crazy winners.
Like for me, probably one of the

336
00:17:33,960 --> 00:17:36,560
biggest ones is more recently
was Palantir.

337
00:17:37,120 --> 00:17:44,000
You know, I bought in a 20 and I
sold it 96 and now it's like,

338
00:17:44,280 --> 00:17:48,120
and now it's like 150 and I
thought it was 400, but it was

339
00:17:48,120 --> 00:17:50,320
going to go to my feeling was
this is going to go higher.

340
00:17:50,320 --> 00:17:54,400
But I, I, I felt like, well, the
wife's got a thing about

341
00:17:54,400 --> 00:17:59,360
investing in things that are
that are the evil, evil brand.

342
00:17:59,360 --> 00:18:01,880
I can't buy cigar.
I can't be an Altria.

343
00:18:01,960 --> 00:18:03,120
I can't.
I can't do things.

344
00:18:03,120 --> 00:18:06,120
I own a bunch of Northrop
Grumman, actually, and that's

345
00:18:06,120 --> 00:18:08,400
been doing well for the past.
You're killing children.

346
00:18:09,000 --> 00:18:11,600
Yeah, well, you know who's
really killing children is the

347
00:18:11,600 --> 00:18:14,480
guy in the blue polo that
presses space bar every day that

348
00:18:14,480 --> 00:18:16,840
works there.
So not really me, if you think.

349
00:18:17,120 --> 00:18:19,120
Right.
You know the guy that goes to

350
00:18:19,120 --> 00:18:22,160
work at Northrop Grumman Design
something that.

351
00:18:22,920 --> 00:18:25,560
Oh, you mean the drones and the.
The Oh yeah.

352
00:18:25,560 --> 00:18:28,520
Or the OR the bombs that they
make that they drop in Gaza or

353
00:18:28,520 --> 00:18:29,800
they shoot.
At exactly.

354
00:18:29,840 --> 00:18:32,200
That's really the guy who's
doing the damage.

355
00:18:32,200 --> 00:18:34,040
I mean I.
Just sell to them and then they

356
00:18:34,040 --> 00:18:37,160
shoot back.
I just oversee it really.

357
00:18:37,880 --> 00:18:41,000
You know, I mean, you think
about, you think about

358
00:18:41,000 --> 00:18:43,280
Afghanistan, everything they
fired at us was something that

359
00:18:43,280 --> 00:18:45,320
we sold to them or gave to them
when they were fighting the

360
00:18:45,320 --> 00:18:48,120
Russians.
It's, it's so absurd.

361
00:18:48,400 --> 00:18:51,080
It is just like, it is a little
crazy.

362
00:18:51,280 --> 00:18:53,920
If you, if you're really like,
like look at the stockpiles of

363
00:18:53,920 --> 00:18:56,000
weapons.
It's like we got the four

364
00:18:56,000 --> 00:19:01,360
biggest producers in the world.
There are guys and they're

365
00:19:01,360 --> 00:19:05,160
selling that to everybody.
And we do all this economic aid

366
00:19:05,200 --> 00:19:07,320
or defense aid, That's what it
is.

367
00:19:07,320 --> 00:19:09,080
They're handing them.
We're handing them, oh, we're

368
00:19:09,080 --> 00:19:12,760
going to give you 40 tanks, you
know, And it's like then, hey,

369
00:19:13,320 --> 00:19:15,640
some new regime comes in, hates
us.

370
00:19:16,200 --> 00:19:18,760
Oh, there's 40 tanks.
Well, here's the specs on how we

371
00:19:18,760 --> 00:19:21,680
can defeat them.
It's because we gave it to them.

372
00:19:22,640 --> 00:19:23,840
Yeah, No.
Exactly.

373
00:19:24,200 --> 00:19:27,960
I mean, I guess if you arm.
The world and you then you know

374
00:19:27,960 --> 00:19:33,560
how to beat them but you know
and it financially it seems to

375
00:19:33,560 --> 00:19:36,040
be a good stock for the
immediate future but I I can't

376
00:19:36,600 --> 00:19:40,560
we cannot sustain this kind of
payments to defense on an

377
00:19:40,560 --> 00:19:43,880
ongoing basis I mean this is
what crashed Russia well the

378
00:19:43,920 --> 00:19:46,200
thing.
Too is that you know it's funny

379
00:19:46,200 --> 00:19:50,600
we've been investing our time
into this podcast isn't that

380
00:19:50,600 --> 00:19:54,920
funny Well how do you think
about the the ROI of this of

381
00:19:54,920 --> 00:19:58,240
your well, I think that.
That it's it's not going to be

382
00:19:58,240 --> 00:20:03,120
something that.
It's sure purely just a dollar

383
00:20:03,120 --> 00:20:07,680
return.
I mean, for many me, it's a, an

384
00:20:07,680 --> 00:20:13,760
emotional return.
It's a a, it makes me feel

385
00:20:13,760 --> 00:20:16,920
better as a person.
I am closer to you.

386
00:20:16,960 --> 00:20:20,760
I know more about you.
Those are the kind of things.

387
00:20:21,520 --> 00:20:23,680
This is a constant stay in
touch.

388
00:20:23,680 --> 00:20:26,080
I mean, you're, you've been in
LA for the last three years.

389
00:20:26,240 --> 00:20:29,880
We've, we've done more episodes
remotely than we did together,

390
00:20:29,880 --> 00:20:31,320
right?
Ever, I think.

391
00:20:31,320 --> 00:20:33,440
Yeah, ever, ever person you know
and.

392
00:20:33,520 --> 00:20:35,720
Well, that's because last.
Year, was it last year?

393
00:20:35,720 --> 00:20:38,080
Was it the year before that?
We got really consistent.

394
00:20:38,080 --> 00:20:40,200
I think it was last year, right?
We started during.

395
00:20:40,200 --> 00:20:43,480
COVID and you were here, and
then it kind of went into the

396
00:20:43,480 --> 00:20:47,720
shitter for a while, yeah.
We would do one like every six

397
00:20:47,720 --> 00:20:51,280
months or something and then I
was like, either we get serious

398
00:20:51,280 --> 00:20:53,280
about this or we just don't do
it anymore.

399
00:20:53,280 --> 00:20:57,400
And then we chose to be serious
about it and here we are.

400
00:20:57,400 --> 00:20:59,560
Best of time.
Exactly.

401
00:20:59,560 --> 00:21:05,520
Well, I look at all the episodes
and we have 110 total scheduled

402
00:21:05,520 --> 00:21:10,800
now and that's that's 110 hours
roughly, which is pretty crazy

403
00:21:10,800 --> 00:21:14,960
and probably that.
Again and planning the ideas.

404
00:21:15,680 --> 00:21:17,960
Well, there was 1.
Where we were doing the

405
00:21:17,960 --> 00:21:20,840
technological part of it that
made me want to shoot myself.

406
00:21:20,920 --> 00:21:23,440
And that was that was six hours
in one day.

407
00:21:24,240 --> 00:21:26,200
But in the beginning.
We would always run into things

408
00:21:26,200 --> 00:21:28,760
and they would just crap out and
you'd be like and then we found

409
00:21:28,760 --> 00:21:30,120
Zoom.
And then we said we're never

410
00:21:30,120 --> 00:21:33,160
doing anything ever again that's
other than this.

411
00:21:33,160 --> 00:21:35,080
That's what we.
Yeah, it's been very, very.

412
00:21:35,080 --> 00:21:36,680
Simple.
And I'm sure that, you know,

413
00:21:36,680 --> 00:21:39,080
really advanced podcasts don't
do it that way.

414
00:21:39,320 --> 00:21:42,680
And and that's our, you know,
that's our investment in this.

415
00:21:42,680 --> 00:21:45,000
Well, yeah, really.
Advanced podcast ones that are

416
00:21:45,000 --> 00:21:48,600
successful have like a studio
and what we have.

417
00:21:48,600 --> 00:21:50,280
I have a studio I'm in.
My studio right now.

418
00:21:50,280 --> 00:21:53,000
That is kind of a good point.
You are in the studio, Yeah, I

419
00:21:53,040 --> 00:21:54,320
mean.
I come up here and I cut the

420
00:21:54,320 --> 00:21:57,480
light on and this is, this is
your bedroom, which is over the

421
00:21:57,480 --> 00:22:00,080
garage, which our garage is
separated from the house.

422
00:22:00,360 --> 00:22:03,840
And I come up here and I cut the
light on and she knows that I'm

423
00:22:03,840 --> 00:22:06,320
in here and we're talking.
I mean, if she comes in, so be

424
00:22:06,320 --> 00:22:07,080
it.
I don't care.

425
00:22:07,360 --> 00:22:11,200
I mean, we also, The funny thing
is, is that let me pick this up.

426
00:22:11,720 --> 00:22:16,520
There is a, there's a bathroom,
the bathroom over there in the

427
00:22:16,520 --> 00:22:19,840
corner, right?
That's we have a, we have a, we

428
00:22:19,840 --> 00:22:22,280
have people working on the pool.
And I said, hey, if you got to

429
00:22:22,280 --> 00:22:25,920
go to potty, use that told the
yard guys use that.

430
00:22:25,920 --> 00:22:29,520
So there's always like a little
path and I and I keep wondering

431
00:22:29,760 --> 00:22:31,560
that we're going to be doing an
episode and you're going to see

432
00:22:31,560 --> 00:22:33,960
a guy come in, you know, and
then and.

433
00:22:34,600 --> 00:22:36,600
Then one of our.
Subscribers is going to call

434
00:22:36,600 --> 00:22:38,360
ICE.
Did you specifically?

435
00:22:38,360 --> 00:22:41,160
Say potty to to them the word
potty.

436
00:22:42,040 --> 00:22:44,080
Have you got to go potty?
No, no, I think bathroom.

437
00:22:44,080 --> 00:22:47,040
I think I, I probably, I
probably, you know, what do you

438
00:22:47,040 --> 00:22:49,280
call it when you make it sound
more mature?

439
00:22:50,440 --> 00:22:52,720
I smarten it up when I talk to
the people you live with you.

440
00:22:53,800 --> 00:22:55,080
Know I don't.
I don't.

441
00:22:55,120 --> 00:22:58,160
I don't, I don't say potty.
I'd say potty when I'm at work

442
00:22:58,240 --> 00:23:00,840
and I was the CEO and I would
talk to the staff and say, hey,

443
00:23:01,120 --> 00:23:03,520
I got a potty.
Look at me like what?

444
00:23:03,880 --> 00:23:06,280
And I said, well, should I show
you take a half to go poo?

445
00:23:06,520 --> 00:23:08,480
Or you know what, What do you
want to hear?

446
00:23:08,480 --> 00:23:12,000
And if you say something like
that, then people smile and

447
00:23:12,000 --> 00:23:14,560
they're OK with it.
And then they also know that

448
00:23:14,560 --> 00:23:17,880
they understand why you need to
take a break as opposed to,

449
00:23:18,240 --> 00:23:23,800
well, I'm going to have to take
5 because I have to review this.

450
00:23:23,800 --> 00:23:25,440
And you can just say go to the.
Bathroom.

451
00:23:25,440 --> 00:23:27,160
I don't understand.
Yeah, I guess that's true.

452
00:23:27,160 --> 00:23:28,720
Too I got to go.
I don't understand.

453
00:23:28,720 --> 00:23:30,400
How there's there's I always
like.

454
00:23:30,600 --> 00:23:34,000
I, I just, I kind of like the
thing of potty because that

455
00:23:34,040 --> 00:23:37,560
immediately it links you to
everybody that has a kid because

456
00:23:37,720 --> 00:23:39,680
of all the time.
That's what you end up going

457
00:23:39,680 --> 00:23:41,880
when you have a kid.
I'm sure people say they go to

458
00:23:41,880 --> 00:23:47,120
the bathroom for their kids,
little Hepzibar and Horatio when

459
00:23:47,120 --> 00:23:52,440
they, they have to go to the
bathroom for the elite people.

460
00:23:52,440 --> 00:23:57,520
But the rest of us trash.
We say potty until you get about

461
00:23:57,520 --> 00:24:00,680
12 or 13 and we start calling it
all sorts of really bad names.

462
00:24:00,680 --> 00:24:04,080
And you know, now we're really
invested in this, aren't we?

463
00:24:04,680 --> 00:24:07,640
We are very.
Invested in this, invested in

464
00:24:07,640 --> 00:24:09,440
the investments a little, a
little.

465
00:24:09,440 --> 00:24:14,880
Thing about investments and that
I that I think about is that

466
00:24:14,960 --> 00:24:18,680
when you talk to anybody, any
investment advisor you'll ever

467
00:24:18,680 --> 00:24:24,040
go to, the number one thing to
do is if you have a four O 1K is

468
00:24:24,040 --> 00:24:27,160
1st to pay off credit card debt.
Second thing you do is you go

469
00:24:27,160 --> 00:24:30,480
right to your 4O1K and you Max
out if you have any type of

470
00:24:30,480 --> 00:24:36,000
matching, any matching, if
someone matches it 25% for

471
00:24:36,000 --> 00:24:39,000
usually what they'll do is
they'll do up to 6%.

472
00:24:39,520 --> 00:24:41,720
They'll give you $0.25 on every
dollar you put in.

473
00:24:42,280 --> 00:24:45,440
So you immediately get 25%
return on every dollar you put

474
00:24:45,440 --> 00:24:47,840
in.
So and you realize that when

475
00:24:47,840 --> 00:24:51,160
you're starting out in work, you
can have multiple different 4 O1

476
00:24:51,160 --> 00:24:53,280
KS if you go from one place to
the other to the other.

477
00:24:53,520 --> 00:24:57,760
So the sooner you can start that
like a four O 1K started 40

478
00:24:57,760 --> 00:25:03,080
years ago for me is now worth a
lot, a lot more than one that

479
00:25:03,080 --> 00:25:05,960
started three years ago.
And I put in 10 times as much

480
00:25:06,440 --> 00:25:09,560
doesn't even come close.
So it's, it's, but you also have

481
00:25:09,560 --> 00:25:13,320
a maximum to put in.
So, but that's the kind of thing

482
00:25:13,320 --> 00:25:16,000
to think about compounding is,
is that the earlier that you

483
00:25:16,000 --> 00:25:19,920
start saving and I started
saving like with mutual funds

484
00:25:19,920 --> 00:25:22,720
and stuff like that.
When we first got married, I had

485
00:25:22,800 --> 00:25:25,400
a fair amount of money then.
And then we pissed all the way

486
00:25:25,400 --> 00:25:29,640
on a honeymoon and her diet, her
huge diamond ring.

487
00:25:31,240 --> 00:25:34,960
It was 2500 bucks and it was at
the marquee.

488
00:25:34,960 --> 00:25:38,040
Diamond that she has yeah, same
one I.

489
00:25:38,040 --> 00:25:39,920
Don't know why we.
Ever got real estate?

490
00:25:40,680 --> 00:25:42,160
Oh yes, real estate.
Yeah, she had.

491
00:25:42,160 --> 00:25:44,120
Real I married my wife because
she had real estate.

492
00:25:44,120 --> 00:25:46,400
That's plain, and it's all about
marrying.

493
00:25:46,400 --> 00:25:48,720
Up is what I'm finding.
Yeah, that's what she got to do.

494
00:25:48,920 --> 00:25:51,080
She had a condo I.
Had no, I had no real estate.

495
00:25:51,080 --> 00:25:54,840
I had cash and it's like a cash
and real estate it it worked

496
00:25:54,840 --> 00:25:57,320
really, really well.
There were a few other reasons

497
00:25:57,320 --> 00:26:00,600
why just a couple.
No, those were well, marriage

498
00:26:00,600 --> 00:26:02,320
really is.
A business transaction, at the

499
00:26:02,320 --> 00:26:05,680
end of the day, it's an
investment in your future and

500
00:26:05,680 --> 00:26:08,800
you can you should always marry
up and never marry down well.

501
00:26:09,440 --> 00:26:11,120
I'm going to live longer because
of her.

502
00:26:12,160 --> 00:26:17,160
I have saved myself from really
stupid decisions because of her

503
00:26:17,200 --> 00:26:19,280
like.
What I mean?

504
00:26:20,400 --> 00:26:26,520
I when through the years in my
position as being the proverbial

505
00:26:26,520 --> 00:26:31,920
head of a company, I have come,
I've had to do things, you know,

506
00:26:31,920 --> 00:26:35,680
whether or not when we had to
lay off a staff at 15, we laid

507
00:26:35,680 --> 00:26:38,600
off 15 people in the wow.
I.

508
00:26:38,600 --> 00:26:42,800
Talked to her about and it's
like, and she was like, well you

509
00:26:42,800 --> 00:26:45,240
know, it's horrible, you're
going to have to do that anyway.

510
00:26:45,760 --> 00:26:48,680
And I said, OK, so and she goes,
well, what are your choices?

511
00:26:48,680 --> 00:26:51,240
And I was like, well, we our
choices are we either lay them

512
00:26:51,240 --> 00:26:55,880
off now or we go into non
profitability in the third

513
00:26:55,880 --> 00:27:00,560
quarter and then we may actually
go into bankruptcy and

514
00:27:00,560 --> 00:27:04,800
everybody's gone.
And we had like 130 people then.

515
00:27:05,400 --> 00:27:09,680
And she's like, so you're going
to take the hit now instead of

516
00:27:09,680 --> 00:27:14,440
taking a massive hit.
Or we can hope that revenues

517
00:27:14,440 --> 00:27:17,160
will grow faster than they're
growing now and maybe we'll be

518
00:27:17,160 --> 00:27:19,040
able to keep everybody and
everything will turn out well.

519
00:27:19,040 --> 00:27:21,160
What caused that?
What caused that to happen?

520
00:27:23,080 --> 00:27:27,720
We we when we went online and
when we did all these different

521
00:27:27,720 --> 00:27:30,760
things to the product, our
product really expanded quickly,

522
00:27:30,760 --> 00:27:33,400
right.
Revenues came in at a very, very

523
00:27:33,400 --> 00:27:35,760
rapid rate.
We had a we had a really huge

524
00:27:35,760 --> 00:27:37,560
growth rate year over year over
year.

525
00:27:37,720 --> 00:27:43,120
We also had a one off sale to a
large multinational company for

526
00:27:43,120 --> 00:27:46,120
$1,000,000.
So that throws $1,000,000 into

527
00:27:46,120 --> 00:27:48,600
the pot.
So you have this idea that you

528
00:27:48,600 --> 00:27:53,680
made, you know, 1215 million
when you only made a 10 or 11

529
00:27:53,920 --> 00:27:57,040
and then you plan on making 12
or 15 the next year when you

530
00:27:57,040 --> 00:27:58,600
shouldn't have.
You should have taken that one

531
00:27:58,600 --> 00:28:02,040
off $1,000,000 sale off.
The top.

532
00:28:02,240 --> 00:28:05,440
We over planned.
We, we, we did not take that

533
00:28:05,440 --> 00:28:07,920
into consideration I would say.
And then you expand.

534
00:28:07,920 --> 00:28:10,000
It too quickly is that what we
and then we hired.

535
00:28:10,400 --> 00:28:12,840
And, and The thing is, we were
like more marketing, more sales,

536
00:28:12,840 --> 00:28:14,840
more product, more marketing,
more sales, more product, more

537
00:28:14,840 --> 00:28:17,320
marketing, more sales, more
product, more, more marketing,

538
00:28:17,320 --> 00:28:18,760
more sales, more sales, more
sales.

539
00:28:18,760 --> 00:28:21,120
Can we have more sales people?
And the salespeople were like,

540
00:28:21,120 --> 00:28:22,960
well, it's really easy.
All we do is go in there,

541
00:28:22,960 --> 00:28:24,840
install it and it's a pay as you
go system.

542
00:28:24,840 --> 00:28:26,760
So nobody has any problem doing
it.

543
00:28:26,760 --> 00:28:28,880
And they all turn into revenue.
And it's just like, what's the

544
00:28:28,880 --> 00:28:31,640
big deal?
And so we're like, wow, we just

545
00:28:31,640 --> 00:28:36,000
need more people installing it.
And then, you know, you got to

546
00:28:36,000 --> 00:28:38,560
think about market size
penetration.

547
00:28:38,560 --> 00:28:42,440
I mean, we were at, we were at,
we were in like, I think we are

548
00:28:42,440 --> 00:28:49,080
99 of the top 100 law firms.
We were in 230 of the top 250

549
00:28:49,080 --> 00:28:54,000
law firms.
We were in 60 of the top Fortune

550
00:28:54,000 --> 00:28:58,680
100 companies.
We were in all of the big four

551
00:28:58,680 --> 00:29:00,200
account.
And well, at that time it was

552
00:29:00,560 --> 00:29:03,800
Big 8 or Big 6 or whatever.
We're in every single one.

553
00:29:04,160 --> 00:29:08,240
So only thing we could do is
grow exponentially inside.

554
00:29:08,640 --> 00:29:11,080
And a lot of people put controls
on it because it was a pay as

555
00:29:11,080 --> 00:29:14,120
you go system.
So you didn't want Zachary

556
00:29:14,120 --> 00:29:17,560
sitting there looking at SEC
documents all day because that'd

557
00:29:17,560 --> 00:29:19,880
be $1,000,000.
So what you would do is you

558
00:29:19,880 --> 00:29:22,240
would say we want to have a
limitation on you.

559
00:29:23,080 --> 00:29:26,000
You were going to have 4
passwords and we're going to pay

560
00:29:26,000 --> 00:29:28,240
a fixed fee for the four, you
know, So then we started getting

561
00:29:28,240 --> 00:29:31,840
into fixed fees to, to expand
the number of users.

562
00:29:31,960 --> 00:29:35,760
And it was another way to, you
know, grow the business, but we

563
00:29:35,760 --> 00:29:37,440
didn't grow it at the rate that
we should have.

564
00:29:37,440 --> 00:29:41,400
We overestimate we, me and
others.

565
00:29:41,440 --> 00:29:47,440
I, I could blame others too, but
you know, in our planning, we,

566
00:29:47,440 --> 00:29:50,360
we planned wrong and we hired
wrong.

567
00:29:50,760 --> 00:29:54,520
And then we changed it.
And the cool thing was, is when

568
00:29:54,520 --> 00:29:59,040
we did that, we, we, we paid
those people well, I think we'd

569
00:29:59,040 --> 00:30:02,160
give them 30 days severance,
maybe 60.

570
00:30:02,160 --> 00:30:05,840
And they'd only been there for a
year or under, you know, so we

571
00:30:05,840 --> 00:30:07,960
gave them a month or two.
Yeah, nobody does that.

572
00:30:07,960 --> 00:30:09,600
That's crazy.
Yeah, they were like, whoa.

573
00:30:09,600 --> 00:30:11,720
Whoa, no.
And many of them had jobs before

574
00:30:11,720 --> 00:30:13,240
the severance ran out.
And we didn't care.

575
00:30:13,600 --> 00:30:16,520
We're like, no, no, we, we, we
brought you on with the whole

576
00:30:16,520 --> 00:30:18,160
time.
And we were like really, really

577
00:30:18,160 --> 00:30:21,080
good to our people.
But our people were amazing to

578
00:30:21,080 --> 00:30:23,040
us.
They always, they produce, they

579
00:30:23,040 --> 00:30:25,720
delivered, they did things, you
know, I mean, of course there

580
00:30:25,720 --> 00:30:30,000
was a 1 to 3% that were shit.
But in every single place that

581
00:30:30,000 --> 00:30:33,600
you go and every single thing
that you do, you cannot focus on

582
00:30:33,600 --> 00:30:36,520
those that fuck you.
I mean, they're at the bottom of

583
00:30:36,520 --> 00:30:38,760
the threshold.
You can you just take your heel

584
00:30:38,760 --> 00:30:41,120
and you stomp on them and you
move out of the way and you just

585
00:30:41,120 --> 00:30:43,880
you focus on the 97%.
And then I think that that's

586
00:30:43,880 --> 00:30:46,640
the, you know, that's the thing
that we did over and over and

587
00:30:46,640 --> 00:30:48,400
over.
And we were like, you know, it

588
00:30:48,400 --> 00:30:51,760
was great, you know, and
Intellij was a lot of the same

589
00:30:51,760 --> 00:30:56,000
way, you know, it's just that
that investing in the future and

590
00:30:56,000 --> 00:30:58,600
how you grow and everything.
And it was just kind of like

591
00:30:59,080 --> 00:31:02,000
very different, you know, But
what I think when we get back,

592
00:31:02,000 --> 00:31:04,800
when we get back to the things,
it's like I had four O 1 KS in

593
00:31:04,800 --> 00:31:07,760
each one of those.
I always maxed out my 4 O1 KS I

594
00:31:07,760 --> 00:31:11,520
could because I didn't need the
money to feed my family or pay

595
00:31:11,520 --> 00:31:15,160
my rent or something like that.
I understand that not everybody

596
00:31:15,160 --> 00:31:18,520
can do that, but if there's
something that you have

597
00:31:18,520 --> 00:31:23,640
discretionary during the month
that you can do without, take

598
00:31:23,640 --> 00:31:28,120
that money and put and bank in
your 4O1K because for your life

599
00:31:28,680 --> 00:31:31,840
that will matter.
That will exponentially matter.

600
00:31:31,840 --> 00:31:35,760
You will, you will be shocked
that $1.00 becomes, you know,

601
00:31:35,760 --> 00:31:40,120
$2.00 every five years.
And you know, and if you're

602
00:31:40,120 --> 00:31:44,360
talking 40 years, you know, then
all of a sudden $1.00 becomes 10

603
00:31:44,360 --> 00:31:47,560
or 15 or $20.
And then if you put $100 in

604
00:31:47,560 --> 00:31:50,200
there, you know, and you start
to see that, wow, this really

605
00:31:50,200 --> 00:31:53,280
becomes a big number.
And that's, and that's how you

606
00:31:53,280 --> 00:31:59,080
become, what do you call it?
You move into it, you glide into

607
00:31:59,080 --> 00:32:03,080
an easy retirement financially
and financially is a, is a big

608
00:32:03,440 --> 00:32:06,920
thing for people.
You know, you do not want to be

609
00:32:06,920 --> 00:32:08,720
retired and just worry about
Social Security.

610
00:32:08,720 --> 00:32:11,920
I mean, my, I mean, luckily my
wife worked for a law firm

611
00:32:12,160 --> 00:32:15,800
weirdly, and they had a pension
at 10 years.

612
00:32:15,800 --> 00:32:19,400
They got a pension.
So my wife gets a pension and

613
00:32:19,400 --> 00:32:25,040
two Social Securities.
So we're we're you know, you

614
00:32:25,040 --> 00:32:27,720
know, so we won't be coming to
you for money anytime soon,

615
00:32:27,720 --> 00:32:29,920
probably a little bit because.
I am pissing.

616
00:32:29,920 --> 00:32:32,560
It away as fast as I can.
I just bought a bunch more

617
00:32:32,560 --> 00:32:34,840
cigars.
I buy T-shirts that I don't

618
00:32:34,840 --> 00:32:36,440
need.
You like my new Calvin Klein?

619
00:32:36,480 --> 00:32:38,560
I think you need 2.
More you think of V-neck.

620
00:32:38,840 --> 00:32:40,400
Calvin Klein or you think the
what I've.

621
00:32:40,400 --> 00:32:43,680
Always wanted to do is buy a
trailer and then get three more

622
00:32:43,680 --> 00:32:45,160
and stack them on top of each
other.

623
00:32:45,560 --> 00:32:48,000
Yeah, build a super house.
Oh.

624
00:32:49,000 --> 00:32:52,120
Well, they're in in our
neighborhood, they're doing it,

625
00:32:52,120 --> 00:32:54,800
but they're doing with those.
What are those They did do that

626
00:32:54,800 --> 00:32:58,080
there was.
A two or two trailers that were

627
00:32:58,080 --> 00:33:00,640
interconnected.
They're not trailers.

628
00:33:00,640 --> 00:33:03,320
Oh, you're talking about the.
Storage containers Storage

629
00:33:03,320 --> 00:33:04,760
containers.
Yeah, the ones that are on the

630
00:33:04,760 --> 00:33:08,280
dock in California that see
those huge giant ones, they have

631
00:33:08,280 --> 00:33:10,480
two of them and they made it
into a house and then they have

632
00:33:10,480 --> 00:33:13,440
connecting one across the top.
It's a wicked looking cool.

633
00:33:13,440 --> 00:33:16,400
It's really cheap to.
Make too compared to I guess.

634
00:33:16,760 --> 00:33:19,640
You know, but they're in a place
that, I mean the houses are

635
00:33:20,040 --> 00:33:23,040
millions here.
So that house is going to sell

636
00:33:23,040 --> 00:33:25,960
for, but it's really the
property and then it's the land.

637
00:33:25,960 --> 00:33:28,000
It's not the house.
Yeah, yeah, yeah.

638
00:33:28,560 --> 00:33:31,600
Lucky we have nothing, you know,
but I mean, it's crazy, you

639
00:33:31,600 --> 00:33:34,160
know, but we think about other
types of investments that you

640
00:33:34,160 --> 00:33:36,640
look at, you know, we were, we
talked about time in this

641
00:33:36,640 --> 00:33:39,920
business and things like that.
But you look at like, do you

642
00:33:39,920 --> 00:33:42,640
invest in your clothes?
Do you buy, do you buy?

643
00:33:42,920 --> 00:33:44,840
I mean, that's the one thing I
hear about buying better.

644
00:33:44,840 --> 00:33:48,760
And I, I remember that when I
work construction that we would

645
00:33:48,760 --> 00:33:52,760
buy boots and there were you
could buy the Kmart boots or you

646
00:33:52,760 --> 00:33:56,480
could buy the, I forgot what the
heck it was Wolverine or

647
00:33:56,520 --> 00:33:58,120
something.
Yeah, there was a.

648
00:33:58,120 --> 00:34:01,960
Different one, a different one
that lasted for two seasons and

649
00:34:01,960 --> 00:34:04,720
then the Kmart boots would last
barely one.

650
00:34:05,360 --> 00:34:09,159
And also the Kmart ones, when
you drop something on your foot,

651
00:34:09,199 --> 00:34:15,080
it hurt the, the strings always
broke about halfway through.

652
00:34:15,080 --> 00:34:17,040
They just sort of frayed and
went away.

653
00:34:17,360 --> 00:34:21,320
The, the little caps on the end
that you lace yourself up on.

654
00:34:21,600 --> 00:34:23,520
It was always just a problem, a
problem.

655
00:34:23,520 --> 00:34:26,840
And then you're like, you're
walking duck footed weird

656
00:34:27,120 --> 00:34:28,960
halfway through because the
souls wind down.

657
00:34:28,960 --> 00:34:30,159
Because they're really, really
cheap.

658
00:34:31,080 --> 00:34:33,080
And it's like that, I mean.
That's a story and it's a lot of

659
00:34:33,080 --> 00:34:36,040
times people can't afford it to
go to the next thing.

660
00:34:36,040 --> 00:34:39,120
And then that's, that's always
an issue is just like you can't

661
00:34:39,120 --> 00:34:41,480
get out of being in a, in a deep
hole.

662
00:34:42,000 --> 00:34:46,800
It's, it's a problem and it's,
there's, there's, there's no

663
00:34:46,800 --> 00:34:50,360
easy, easy path out.
But I mean, one of the paths

664
00:34:50,360 --> 00:34:57,320
that you can do and maybe we,
we, we, I did as a kid is start

665
00:34:57,320 --> 00:34:59,360
a savings account early with
your kids.

666
00:34:59,640 --> 00:35:02,920
You know, if they can for little
monies that they make and they

667
00:35:02,920 --> 00:35:07,920
can put in 1020 dollars, make
sure that I mean what I was, you

668
00:35:07,920 --> 00:35:10,400
know, I don't know if the banks
will just RIP them off, but I

669
00:35:10,400 --> 00:35:13,080
remember that they had a little
kid savings for you and we

670
00:35:13,080 --> 00:35:14,960
started one for you.
I think it's still.

671
00:35:14,960 --> 00:35:17,240
It was until you were like 22 as
well.

672
00:35:17,640 --> 00:35:20,760
It went a long, long time, but I
think there's still 100.

673
00:35:20,760 --> 00:35:25,120
Bucks for the first thousand you
put in and it was just like, I

674
00:35:25,120 --> 00:35:27,480
think you're still.
Part on the account too.

675
00:35:27,480 --> 00:35:29,040
Funny enough.
Because it's under your name.

676
00:35:29,360 --> 00:35:31,440
Yeah, I'm taking all your money.
Man, yeah, that's where it's.

677
00:35:31,440 --> 00:35:32,480
Going as soon as you, you know
you're.

678
00:35:32,480 --> 00:35:34,640
Doing that film, as soon as you
make a lot of money, you talk

679
00:35:34,640 --> 00:35:36,320
about investments.
That was an investment.

680
00:35:36,320 --> 00:35:38,760
That's a sleeper investment that
I put in a long time ago.

681
00:35:38,920 --> 00:35:40,880
I have my name joint on his
account.

682
00:35:40,880 --> 00:35:43,440
I am going to rob him blind.
Exactly that's.

683
00:35:43,440 --> 00:35:45,280
What I thought and this is going
to be your take.

684
00:35:45,360 --> 00:35:47,560
And you're going to say, like,
look, he said he was going to do

685
00:35:47,560 --> 00:35:49,200
it.
And it's like, yeah, but we took

686
00:35:49,200 --> 00:35:52,920
the money and he went to he went
to Charlestown and he put it all

687
00:35:52,920 --> 00:35:56,360
on black and lost.
Here's a.

688
00:35:56,360 --> 00:35:59,320
Documentary on.
How my father?

689
00:35:59,320 --> 00:36:03,640
Robbed Me Join us next week to
talk about what it's like to be

690
00:36:03,640 --> 00:36:07,880
robbed by your family members.
Investment.

691
00:36:07,920 --> 00:36:09,520
Yeah, There you go.
What was this?

692
00:36:09,520 --> 00:36:12,040
Yeah.
There was a Tim Dylan thing,

693
00:36:12,040 --> 00:36:15,800
funny enough.
He was like America is finding

694
00:36:15,800 --> 00:36:20,240
your child OD D in the bathroom
and then narcaning them just so

695
00:36:20,240 --> 00:36:24,960
that they can come back from the
dead and rob you one last time.

696
00:36:27,520 --> 00:36:31,600
Oh my God, that's what America,
Oh my gosh, no, your kids rob

697
00:36:31,600 --> 00:36:34,520
you 1000 times.
They they rob you with so many

698
00:36:34,520 --> 00:36:37,080
different things, you know, of
your youth, but I can't.

699
00:36:37,280 --> 00:36:40,640
No, no, it's more your heart
more than anything because your

700
00:36:40,640 --> 00:36:43,080
heart goes out to your child
and, and, and it is.

701
00:36:43,080 --> 00:36:46,840
I've talked to so many parents
that have totally worthless

702
00:36:46,840 --> 00:36:51,000
children just like you and very
worthless, very worthless.

703
00:36:51,400 --> 00:36:55,600
And that that no matter what
you, I mean, they're always

704
00:36:55,600 --> 00:36:59,160
going to say, well, he's my kid.
I will always, I will be there,

705
00:36:59,400 --> 00:37:01,280
I'm there and it's like I'm just
there.

706
00:37:01,360 --> 00:37:05,200
And I'm sure that all parents,
you, you are our investments,

707
00:37:05,760 --> 00:37:08,120
OK?
You, you are my investment for

708
00:37:08,120 --> 00:37:10,080
the future more than anything
else.

709
00:37:10,120 --> 00:37:12,520
You are you.
You were the one that is going

710
00:37:12,520 --> 00:37:14,880
to help shape the country and
all that kind of stuff.

711
00:37:14,880 --> 00:37:17,840
It may not seem like it, and you
may kind of figure it out when

712
00:37:17,840 --> 00:37:21,720
you're about 40 and I'm dead and
you have a little, you're going

713
00:37:21,720 --> 00:37:23,000
to have a little dust and a
ring.

714
00:37:23,000 --> 00:37:23,920
Is that what you're going to
have?

715
00:37:23,920 --> 00:37:24,880
You're going to have my dust
there.

716
00:37:24,880 --> 00:37:26,640
Yeah, of course.
What was?

717
00:37:26,640 --> 00:37:28,080
The Billy Bob I'm just checking
out and.

718
00:37:28,080 --> 00:37:33,200
See if the old man's been alive.
He smells funny when he was the.

719
00:37:33,200 --> 00:37:36,800
Billy Bob Thornton thing, He had
a vial of Angelina and Julie's

720
00:37:36,800 --> 00:37:38,360
blood around his neck or
something.

721
00:37:38,360 --> 00:37:40,360
Yeah, yeah.
They had blood and urine.

722
00:37:40,840 --> 00:37:43,000
Urine as well.
I thought they had a blood.

723
00:37:43,000 --> 00:37:46,680
And urine thing and it was a
yellow and red and I I just OK

724
00:37:46,680 --> 00:37:48,640
I.
Thought it was just blood but OK

725
00:37:48,640 --> 00:37:49,600
maybe it was.
Just blood.

726
00:37:49,600 --> 00:37:53,040
But I, you know, whatever,
whatever, you know, blood and

727
00:37:53,040 --> 00:38:01,160
urine, semen, whatever you want
to do, you put it all there, I

728
00:38:01,160 --> 00:38:02,320
mean.
I've done some.

729
00:38:02,320 --> 00:38:05,080
Stupid shit.
So it's hard for me to throw

730
00:38:05,080 --> 00:38:06,760
rocks at somebody else for
doing.

731
00:38:07,000 --> 00:38:08,680
You ever see the movie Sling
Blade?

732
00:38:09,600 --> 00:38:11,000
Yeah.
I've never seen.

733
00:38:11,000 --> 00:38:14,440
It and.
Trap taters, I need to watch

734
00:38:14,440 --> 00:38:15,560
that.
Apparently that was really good.

735
00:38:15,680 --> 00:38:18,080
He directed that too, didn't he?
Yeah, he wrote.

736
00:38:18,080 --> 00:38:23,840
It directed it and he starred.
I mean, he was like, wow, you

737
00:38:23,840 --> 00:38:28,160
would not recognize him.
You would not.

738
00:38:28,640 --> 00:38:32,040
And he did not walk like him.
He was a different person.

739
00:38:32,040 --> 00:38:35,760
He was like, when you think
about Brad Pitt and 12 Monkeys,

740
00:38:35,760 --> 00:38:37,160
remember that.
Yeah, that was great.

741
00:38:37,160 --> 00:38:39,280
Did you see that?
And he was like, that's Brad

742
00:38:39,280 --> 00:38:41,040
Pitt.
No, that's not Brad Pitt.

743
00:38:41,520 --> 00:38:42,640
Lily, Bob Thornton's.
Great.

744
00:38:42,920 --> 00:38:45,840
I need to watch the the new
thing that he's in the the

745
00:38:46,080 --> 00:38:50,040
Yellowstone offshoot thing where
it's about another man and on an

746
00:38:50,200 --> 00:38:53,680
Indian Reservation guy and he's.
Played tough guys before like

747
00:38:53,680 --> 00:38:55,840
that.
You know that that I remember

748
00:38:55,840 --> 00:38:57,480
when we saw him smoking
cigarettes the one time on the

749
00:38:57,480 --> 00:38:59,000
movie and it was just like, oh,
it's like a.

750
00:38:59,000 --> 00:39:01,960
Normal man or something and they
said that was a great.

751
00:39:01,960 --> 00:39:03,360
Move.
That sucked.

752
00:39:03,360 --> 00:39:05,520
That was the worst.
Coen Brothers movie I've ever

753
00:39:05,520 --> 00:39:07,560
seen in my life.
Yeah, everybody caught it.

754
00:39:07,600 --> 00:39:08,760
Looks really good.
It's like.

755
00:39:08,760 --> 00:39:11,120
Yeah, let's watch Billy Bob
Thornton smoke cigarette after

756
00:39:11,120 --> 00:39:14,640
cigarette after cigarette and
pontificate about stupid shit.

757
00:39:14,680 --> 00:39:17,880
It was just like, really this?
Well, he was funny too, because

758
00:39:17,880 --> 00:39:20,000
he.
He well, what is that called?

759
00:39:20,000 --> 00:39:21,560
Don't watch it sober.
That's all I'd say.

760
00:39:21,600 --> 00:39:23,840
He black I think.
We didn't even watch it sober,

761
00:39:23,840 --> 00:39:25,960
and we even thought that I was
about yeah, we're like my.

762
00:39:26,160 --> 00:39:29,720
God this is trash the anyway.
But he blackmails James

763
00:39:29,720 --> 00:39:33,960
Gandolfini in it, and I remember
Brian saying, like in Billy Bob

764
00:39:33,960 --> 00:39:37,040
Thornton's voice, I'm going to
go buy more cigarettes with this

765
00:39:37,040 --> 00:39:40,680
money.
That was so funny.

766
00:39:40,840 --> 00:39:42,840
Yeah, that was good.
Yeah.

767
00:39:43,120 --> 00:39:46,920
Investments ban.
So when you think about I, I

768
00:39:46,920 --> 00:39:50,280
think my biggest, probably one
of my bigger wins more recently

769
00:39:50,280 --> 00:39:54,560
was Palantir.
One of my smarter things was

770
00:39:54,560 --> 00:39:58,400
setting up a charitable trust.
You know, that's allowing me to

771
00:39:58,640 --> 00:40:04,080
to do be more philanthropic and
it's really easy with

772
00:40:04,080 --> 00:40:05,600
philanthropic well.
Here's the.

773
00:40:05,600 --> 00:40:08,720
Thing if you're, let's say for
instance, you're thinking about

774
00:40:08,720 --> 00:40:12,440
giving away money, OK, you're,
and you, you know, you're,

775
00:40:12,520 --> 00:40:14,480
you're good, you're well off,
you're good.

776
00:40:14,480 --> 00:40:16,400
Not, not you don't even have to
be rich.

777
00:40:16,400 --> 00:40:19,280
You know, you're just like
middle class and you're, you're,

778
00:40:19,280 --> 00:40:22,640
you're very comfortable and you
have a big nut of money there

779
00:40:23,120 --> 00:40:26,320
and you and you're like, OK, how
am I going to do it?

780
00:40:27,320 --> 00:40:31,360
First off, if you just, if it's
stock, let's say for instance,

781
00:40:31,360 --> 00:40:34,440
you got Microsoft stock and you
bought it at 20 and now it's

782
00:40:34,440 --> 00:40:38,720
like 6,000,000.
If you sell it and then give

783
00:40:38,720 --> 00:40:42,440
away the cash, you're going to
pay cap, you're going to pay

784
00:40:42,440 --> 00:40:45,560
taxes on that.
So you're going to get nailed if

785
00:40:45,560 --> 00:40:49,520
you, you can get the stock to
them, but it's a, it's a, it's a

786
00:40:49,760 --> 00:40:54,680
arduous process.
I would say what you can do is

787
00:40:54,840 --> 00:40:57,880
really it was pretty simple
paperwork to set up a truck to

788
00:40:57,880 --> 00:41:00,560
set up a charitable trust.
And then you could take that

789
00:41:00,560 --> 00:41:03,600
your big gainers, but you got to
be willing to give it away

790
00:41:03,600 --> 00:41:06,560
because once you put it in, it's
gone and you can transfer it

791
00:41:06,560 --> 00:41:09,320
over to your charitable trust
and it's tax free.

792
00:41:09,680 --> 00:41:12,360
So you can take a stock that you
made a bunch of money.

793
00:41:12,360 --> 00:41:14,680
And I forgot, I think one of
mine was Home Depot that I moved

794
00:41:14,680 --> 00:41:19,520
over and it was, it was a lot
and I moved it over and I just

795
00:41:19,520 --> 00:41:22,640
sort of put it all in Vanguard
charitable trust and you get the

796
00:41:22,640 --> 00:41:26,880
right off right then now I
didn't that was like 3 years of

797
00:41:26,880 --> 00:41:31,440
giving away.
I put it all in and like, you

798
00:41:31,440 --> 00:41:35,280
know, one year it was a big, big
number and I got the big write

799
00:41:35,280 --> 00:41:37,920
off on my tax and then I gave it
away.

800
00:41:37,920 --> 00:41:40,760
You got to give away 10% a year,
but I gave it away in like two

801
00:41:40,760 --> 00:41:43,200
or three years.
So it's like you can do that as

802
00:41:43,200 --> 00:41:46,320
a way to mitigate your tax
exposure.

803
00:41:46,320 --> 00:41:50,520
But it really depends upon where
you sit within the environment.

804
00:41:50,520 --> 00:41:53,880
But I would say that I was
pushed for years to do that

805
00:41:53,880 --> 00:41:55,920
because I'm a, I'm a giver and
all that.

806
00:41:55,920 --> 00:41:58,880
But most time I just would sell
the stock and then pay the tax

807
00:41:58,880 --> 00:42:00,360
and then do this.
And people like, why are you

808
00:42:00,360 --> 00:42:02,960
such a dumb ass?
And it's like, you know, I, I

809
00:42:02,960 --> 00:42:06,160
mean, I, I'm, I've done so many
stupid things.

810
00:42:06,240 --> 00:42:09,520
There's, there's listening to me
for investment advice is dumb

811
00:42:09,520 --> 00:42:12,600
and what and be, and I think
financial advisors are stupid.

812
00:42:12,600 --> 00:42:14,680
I think it's a not a good idea
to have one.

813
00:42:15,840 --> 00:42:18,640
I I never, I am like, you know
what?

814
00:42:18,640 --> 00:42:21,560
You need to do provided.
You can fill out an online form.

815
00:42:21,800 --> 00:42:25,200
I would go to Vanguard, which
charges the cheapest fees,

816
00:42:25,400 --> 00:42:29,400
Fidelity the next cheapest fees
and I would get, I'd get a

817
00:42:29,400 --> 00:42:32,240
balanced fund.
Like I, I, I wouldn't do a

818
00:42:32,240 --> 00:42:34,560
balanced fund.
I would do a stock fund and I

819
00:42:34,560 --> 00:42:37,480
would, I might do a balanced
fund and I do an international

820
00:42:37,480 --> 00:42:41,800
fund and I put like 70% of my,
depending upon what my age was.

821
00:42:42,000 --> 00:42:46,560
If I was 20 or 30, I put all of
it in the, in the stock fund.

822
00:42:46,600 --> 00:42:51,040
And, and it would be a either
the, not the Fortune 500, but I

823
00:42:51,040 --> 00:42:54,480
would do the Stock Exchange
because they have ones that have

824
00:42:54,480 --> 00:42:57,040
the Russell 2000, have all of
them in it.

825
00:42:57,040 --> 00:42:59,840
All the stocks in it have an
equal weighting and you buy a

826
00:42:59,840 --> 00:43:06,000
piece of that, that's your ETF.
You know, you do that and, and

827
00:43:06,000 --> 00:43:09,920
you just rejigger it every
couple years and it just grows

828
00:43:09,920 --> 00:43:12,160
and it grows it.
I mean, the market has been

829
00:43:12,160 --> 00:43:16,360
what, 12% on average for the
last 10 years before that.

830
00:43:17,200 --> 00:43:20,560
I mean, it was it's been in the
crapper, it's been bad good.

831
00:43:21,480 --> 00:43:26,720
If you put all of your money in
and O 7, you lost 28% that year

832
00:43:26,720 --> 00:43:30,960
29 if you did that strategy.
So you have to realize that

833
00:43:30,960 --> 00:43:32,960
you're going to get hammered.
You know, that's what.

834
00:43:32,960 --> 00:43:36,360
I'm wondering is when we're
going to have a really bad

835
00:43:36,680 --> 00:43:39,680
recession and I'm kind of
waiting on that.

836
00:43:39,680 --> 00:43:42,240
You know I always the.
Funniest thing that I have a

837
00:43:42,240 --> 00:43:45,600
story about investing and I have
my mother who was was totally

838
00:43:45,600 --> 00:43:48,960
against giving money to some
place that she couldn't go to

839
00:43:48,960 --> 00:43:52,680
and count, you know, and from
that generation.

840
00:43:53,080 --> 00:43:58,200
And she had, you know, she'd
been for the federal government

841
00:43:58,200 --> 00:44:03,320
for 25 years at that point.
And I think she was in her 50s,

842
00:44:03,680 --> 00:44:08,880
maybe late 50s, early 50s.
And she said, and I talked her

843
00:44:08,880 --> 00:44:12,400
into starting a fund at Fidelity
and I said, well, let's do

844
00:44:12,400 --> 00:44:17,040
Fidelity, just give me 50 grand.
She wrote me a check for 50

845
00:44:17,040 --> 00:44:18,960
grand, not me.
She wrote it to Fidelity.

846
00:44:19,240 --> 00:44:20,960
I did all the paperwork, filled
it in.

847
00:44:21,360 --> 00:44:25,640
She put it in there.
The next week the market dipped

848
00:44:26,200 --> 00:44:31,320
and she lost like $5000 next
month.

849
00:44:31,320 --> 00:44:36,240
So the first statement that came
back was like 46 in change or 45

850
00:44:36,240 --> 00:44:41,920
in change.
So for the next 15 years, at

851
00:44:41,920 --> 00:44:45,280
every holiday thing, anytime
somebody talk about money, she

852
00:44:45,280 --> 00:44:49,680
would point to me and say, yeah,
yeah, Mr. Investment Brain there

853
00:44:49,680 --> 00:45:00,040
lost 5, lost $5000, lost $5000,
You know, well, she dies, you

854
00:45:00,040 --> 00:45:04,320
know, And then my brother's the,
what is it the head testicle in

855
00:45:04,320 --> 00:45:06,840
the state.
And he calls me and he goes, we

856
00:45:06,840 --> 00:45:11,000
found, found this account.
I'm like, what?

857
00:45:11,240 --> 00:45:14,600
Found this account, you know,
and it's a Fidelity account.

858
00:45:14,680 --> 00:45:19,360
I'm like, oh, and she goes and
it's in your name and her name.

859
00:45:19,360 --> 00:45:21,600
So technically you're, you're
the owner, but I'm like, no, I,

860
00:45:21,840 --> 00:45:24,560
it's a, it was a, she would have
wanted everybody to get a piece.

861
00:45:24,560 --> 00:45:31,520
So got it and looked at it and
it was like I, I don't remember

862
00:45:31,520 --> 00:45:34,120
350,000 something.
Oh my gosh.

863
00:45:34,480 --> 00:45:37,960
It was and I.
Was like, so every year of my

864
00:45:37,960 --> 00:45:41,200
life, at every Thanksgiving or
Christmas or whatever event we

865
00:45:41,200 --> 00:45:44,520
went to, any time somebody, it
was like, you look what you did,

866
00:45:44,520 --> 00:45:47,040
you lost 5.
And I was just like, Oh my God.

867
00:45:47,640 --> 00:45:51,240
And it was like, wow, I need to,
I need to like figure out a way

868
00:45:51,240 --> 00:45:53,640
to contact her.
I was thinking about doing Ouija

869
00:45:53,640 --> 00:45:58,640
and saying see, see.
Well, she would say.

870
00:45:58,640 --> 00:45:58,880
Well.
I.

871
00:45:58,880 --> 00:46:01,480
Can't spend it now, can I?
Yeah, what's a good point?

872
00:46:01,480 --> 00:46:02,040
I.
Don't care.

873
00:46:02,160 --> 00:46:04,680
Doesn't matter, she would say.
You guys got it anyway.

874
00:46:04,680 --> 00:46:09,200
You assholes.
Well, on that note, I think.

875
00:46:09,200 --> 00:46:10,920
We're at time, are we?
And what do we have?

876
00:46:11,120 --> 00:46:13,640
We're. 46 minutes.
We're not 46.

877
00:46:13,720 --> 00:46:15,720
We're almost there.
Oh, you want to go away?

878
00:46:15,720 --> 00:46:17,560
Man, You're tired.
Yeah, I am.

879
00:46:17,600 --> 00:46:19,600
Are you an old man?
I'm an old man.

880
00:46:19,680 --> 00:46:22,000
I think you're an old man and a.
Young and A and a.

881
00:46:22,120 --> 00:46:23,640
You're an old man and a young
body.

882
00:46:24,080 --> 00:46:26,080
I am a young man and an old
body.

883
00:46:26,080 --> 00:46:29,600
I am just nut right?
I'm a little.

884
00:46:29,880 --> 00:46:32,400
I'm still talking about going
potty, I'm still talking about

885
00:46:32,400 --> 00:46:34,880
all this stuff, whatever.
If you think about other types

886
00:46:34,880 --> 00:46:36,560
of investments, you think about
bonds.

887
00:46:36,920 --> 00:46:43,280
I, I am just not my idea of a
bond is I would buy ACD of 5%

888
00:46:43,280 --> 00:46:46,200
because I feel like it's a lot
more control and when you sell

889
00:46:46,200 --> 00:46:49,680
ACD you don't have to when you
turn it in and get the money,

890
00:46:49,840 --> 00:46:54,160
you don't have to pay any fee.
When you buy and sell a bond you

891
00:46:54,160 --> 00:46:57,280
usually half a point each way.
If you buy the bond you got to

892
00:46:57,280 --> 00:47:00,280
pay a half point in fee or a
little higher sometimes one.

893
00:47:00,280 --> 00:47:02,440
And then when you sell it you
have to pay the same.

894
00:47:02,440 --> 00:47:07,240
So if you buy $1000 bond, you're
you're spending, what is that 1%

895
00:47:07,360 --> 00:47:12,200
of 1000 is 10 bucks.
So you're losing 20 bucks right

896
00:47:12,200 --> 00:47:13,920
off the bat.
So you're losing 2 points on

897
00:47:13,920 --> 00:47:16,320
your investment.
So if you got a 5% bond, you

898
00:47:16,320 --> 00:47:19,760
really only have a 3% bond.
If you buy ACD, you got a 5% CD.

899
00:47:19,760 --> 00:47:22,080
So what the hell.
You know, there's all sorts of

900
00:47:22,080 --> 00:47:24,160
other little strategies to
maximize it.

901
00:47:24,640 --> 00:47:27,360
And I would say I'm not a
registered investment advisor.

902
00:47:27,560 --> 00:47:30,920
I'm spewing mostly bullshit here
when we talk about investment.

903
00:47:30,920 --> 00:47:32,440
It's just things that have
worked for us.

904
00:47:32,600 --> 00:47:36,760
Please buy our course.
On investing, it's $10 a month.

905
00:47:37,080 --> 00:47:40,840
We're really good businessmen
and we want teach you how to be

906
00:47:40,840 --> 00:47:42,840
a really good business woman or
man.

907
00:47:43,400 --> 00:47:45,760
Please buy our course and then
also subscribe.

908
00:47:45,760 --> 00:47:47,040
Did you tell them?
The name of the course?

909
00:47:47,560 --> 00:47:50,120
Yeah, it's course.
No, no, no, I got it on.

910
00:47:50,120 --> 00:47:52,120
Zachcourse.com.
No.

911
00:47:52,200 --> 00:47:56,040
Madoff Advisory.
That's really I love that I

912
00:47:56,120 --> 00:47:57,480
like.
That we will promise you Madoff

913
00:47:57,520 --> 00:48:02,200
advisory and sons and also.
If you could please subscribe to

914
00:48:02,200 --> 00:48:07,080
our Patreon, Phil and Zach False
investments.com.

915
00:48:07,200 --> 00:48:09,160
That sounds great.
Yeah, if you were to bet on any.

916
00:48:09,360 --> 00:48:12,640
Bet on anyone stock today.
What would it be, Okolo?

917
00:48:12,640 --> 00:48:13,840
Is doing really well for me,
right?

918
00:48:13,840 --> 00:48:16,240
Okolo is doing really well.
Another one is I think I think

919
00:48:16,240 --> 00:48:18,320
Palantir is a $400.00 stock.
I think it's the.

920
00:48:18,800 --> 00:48:22,480
Transportation guy that was
recently appointed was CEO of

921
00:48:22,480 --> 00:48:24,000
Okolosa.
It's doing really well.

922
00:48:24,400 --> 00:48:26,200
Yeah.
So I'm happy about that.

923
00:48:26,440 --> 00:48:27,560
So those are our stock.
Picks.

924
00:48:27,560 --> 00:48:29,840
What are any other stock picks
that you think you think that

925
00:48:29,840 --> 00:48:31,800
north of Grumman?
'S been treating me pretty well.

926
00:48:32,360 --> 00:48:35,160
Well, you know.
Defense, we just added another

927
00:48:35,520 --> 00:48:38,560
50 billion to it.
So that's going to grow anytime,

928
00:48:39,320 --> 00:48:42,320
anytime or anytime we put more
money into the Defense

929
00:48:42,320 --> 00:48:45,120
Department, which they just with
the big beautiful bill, they

930
00:48:45,120 --> 00:48:48,160
increase the defense spending.
That means that the four defense

931
00:48:48,160 --> 00:48:51,600
stocks rise and they almost rise
in tandem with the amount of

932
00:48:51,600 --> 00:48:53,720
money because that's where the
money goes.

933
00:48:53,720 --> 00:48:57,280
It just goes to the defense
contractors or subcontractors of

934
00:48:57,280 --> 00:49:00,360
them, which basically fed up to
them minus their piece of what

935
00:49:00,360 --> 00:49:04,040
they take out to pay the CEOs
and the top management and all

936
00:49:04,040 --> 00:49:05,280
that other kind of stuff like
that.

937
00:49:05,480 --> 00:49:09,480
So I would expect, I would
expect some rise there.

938
00:49:10,320 --> 00:49:13,680
I think that there's going to be
a reckoning and defense in the

939
00:49:13,680 --> 00:49:16,280
next 5 years that I think after
this.

940
00:49:16,280 --> 00:49:18,840
Presidency for sure.
I think we, we, we.

941
00:49:18,840 --> 00:49:21,520
Cannot continue this and once
you do that, those stocks are

942
00:49:21,520 --> 00:49:23,400
going to go down because they're
not going to be at the same

943
00:49:23,400 --> 00:49:24,680
level.
Well, that is if this.

944
00:49:24,680 --> 00:49:27,080
Presidency ends, which will be
interesting.

945
00:49:27,720 --> 00:49:29,360
Well, what do you?
Think I mean the future.

946
00:49:29,360 --> 00:49:31,440
People talk about artificial
intelligence blah blah blah.

947
00:49:32,880 --> 00:49:33,760
What does that mean?
Do you?

948
00:49:34,120 --> 00:49:36,920
Should you buy Waymo?
Should you buy?

949
00:49:38,280 --> 00:49:41,760
Water futures in the Jordan
River Valley is what I would

950
00:49:41,760 --> 00:49:44,480
say.
You got about 8 countries around

951
00:49:44,480 --> 00:49:47,360
that and that's the last.
That's one of the most important

952
00:49:47,360 --> 00:49:50,840
aquifers in the world.
So I would go buy Water futures

953
00:49:50,840 --> 00:49:53,360
in the Jordan River Valley
provided.

954
00:49:53,360 --> 00:49:55,640
They don't get contaminated with
nuclear waste.

955
00:49:55,640 --> 00:49:57,840
That's really bad.
Yeah, that would be because then

956
00:49:57,840 --> 00:50:01,480
then those.
Are worth 0 SO, but I've heard

957
00:50:01,480 --> 00:50:03,680
the likelihood of that.
Happening though like you got to

958
00:50:03,680 --> 00:50:07,120
get really like there needs to
if you blow up a nuclear.

959
00:50:07,120 --> 00:50:09,440
Reactor near them.
Yeah, well, I don't.

960
00:50:09,440 --> 00:50:12,680
Even know if there is nuclear
reactors there are that aquifer

961
00:50:13,440 --> 00:50:14,720
it.
Can penetrate.

962
00:50:14,720 --> 00:50:16,560
That deep, though, that's the
question.

963
00:50:16,920 --> 00:50:18,920
I don't know the question that
it would fall into the river and

964
00:50:18,920 --> 00:50:21,680
if it it went into the straight
and as moose as that, that's

965
00:50:21,960 --> 00:50:25,040
that was a big theory and a big
worry is if that happened, it

966
00:50:25,040 --> 00:50:27,840
would get in the aquifer and it
would destroy that area.

967
00:50:28,240 --> 00:50:29,880
So.
So it's a very.

968
00:50:29,880 --> 00:50:35,840
Dicey kind of thing.
It's probably 5% or less the

969
00:50:35,840 --> 00:50:41,920
remoteness of it, but it's sort
of like if it happens you, you,

970
00:50:41,920 --> 00:50:43,720
you, you've sort of destroyed a
lot.

971
00:50:44,280 --> 00:50:47,920
And if it gets into the ocean
that that does the straight

972
00:50:47,920 --> 00:50:52,680
there remember most a lot, a lot
of the water that they use there

973
00:50:52,680 --> 00:50:55,400
is desalinated water.
So they're getting it from

974
00:50:55,400 --> 00:50:58,400
there.
And you can't, you can't de

975
00:50:58,400 --> 00:51:01,400
radiationize water, not yet.
Not yet.

976
00:51:01,440 --> 00:51:04,400
No, no, no, no we don't.
Know that we don't know that at

977
00:51:04,400 --> 00:51:05,520
all.
I mean, it makes you wonder what

978
00:51:05,520 --> 00:51:08,040
happened with Tokyo.
Remember, they had that island

979
00:51:08,040 --> 00:51:09,600
and all that stuff.
Fukushima.

980
00:51:10,520 --> 00:51:13,040
Yeah.
Yeah, Yeah, it's crazy.

981
00:51:13,200 --> 00:51:16,600
You think of it's crazy.
So one more time we we talked

982
00:51:16,600 --> 00:51:18,720
about our you talk about water
features there.

983
00:51:18,960 --> 00:51:23,720
I hear that, I hear this, that
hedge fund people are, they have

984
00:51:23,720 --> 00:51:28,800
bought big water.
They're they're, they're buying

985
00:51:29,080 --> 00:51:33,040
as much water as they, as they
possibly can because they see

986
00:51:33,040 --> 00:51:35,400
that as one of the futures.
You can certainly try to buy

987
00:51:35,400 --> 00:51:38,040
tungsten and all these different
type of metals like that.

988
00:51:38,040 --> 00:51:41,680
But I think that that's a little
more nefarious because somebody

989
00:51:41,680 --> 00:51:44,560
might come along and figure out
a way to make artificial

990
00:51:44,560 --> 00:51:48,480
tungsten or, you know, fake
diamonds or whatever the case

991
00:51:48,480 --> 00:51:51,520
may be.
But I don't see us making water

992
00:51:51,520 --> 00:51:54,240
unless we can figure out a way
to just pull it directly out of

993
00:51:54,240 --> 00:51:57,880
the air and make the
condensation millions of

994
00:51:57,880 --> 00:52:00,200
gallons.
You know, I think we're going to

995
00:52:00,200 --> 00:52:01,600
figure.
That out eventually we're going

996
00:52:01,600 --> 00:52:03,840
to have to we're.
Going to have to, Yeah, because

997
00:52:03,840 --> 00:52:05,440
somebody's going to.
Get sick and tired of these

998
00:52:05,440 --> 00:52:11,040
corporations charging us an arm
and a leg for water when we

999
00:52:11,040 --> 00:52:12,840
could just figure out something
else out.

1000
00:52:12,840 --> 00:52:16,280
Like I remember the Nestle guy
said that water is not a human

1001
00:52:16,280 --> 00:52:19,040
right, which is really cool.
I always loved that.

1002
00:52:19,040 --> 00:52:21,360
I I kind of want that on AT
shirt, you know, I mean, you

1003
00:52:21,360 --> 00:52:24,000
think.
You think back and when I was

1004
00:52:24,000 --> 00:52:26,080
like when I first visited New
York, there were public

1005
00:52:26,080 --> 00:52:27,840
bathrooms everywhere.
There aren't any more.

1006
00:52:28,040 --> 00:52:31,200
They're all gone.
That when you wanted, when there

1007
00:52:31,200 --> 00:52:33,160
were water fountains.
There used to be water fountains

1008
00:52:33,160 --> 00:52:35,760
in all the parks and you could
go there and they were always

1009
00:52:35,760 --> 00:52:38,480
active and working all over the
place.

1010
00:52:38,480 --> 00:52:39,920
Now they turn them off.
They're not funny.

1011
00:52:39,920 --> 00:52:41,480
They've turned them all.
Off.

1012
00:52:41,680 --> 00:52:45,920
And so you have to buy bottled
water and if you want to go to

1013
00:52:45,920 --> 00:52:49,120
the bathroom, you have to go to
a restaurant or you have to

1014
00:52:49,120 --> 00:52:50,400
spend.
You have to buy something.

1015
00:52:50,400 --> 00:52:52,000
Yeah.
Right, so you can't.

1016
00:52:52,000 --> 00:52:53,520
Get around it.
I mean, you got to go to a

1017
00:52:53,520 --> 00:52:55,600
museum, you got to pay 50 bucks
to get in.

1018
00:52:55,600 --> 00:53:00,400
Except in the DC museums, which
we're sort of been incredibly

1019
00:53:00,400 --> 00:53:03,400
lucky to have a museum system
that doesn't charge that which

1020
00:53:03,400 --> 00:53:04,080
is.
Bizarre.

1021
00:53:04,080 --> 00:53:08,120
Yeah, I just paid 40 bucks to go
to Natural History here in LA.

1022
00:53:09,080 --> 00:53:12,160
Honestly, it's crazy because the
Natural History Museum here,

1023
00:53:12,760 --> 00:53:15,080
it's exactly like the one in New
York, funny enough.

1024
00:53:15,080 --> 00:53:16,680
Yeah, that's an amazing.
One too.

1025
00:53:16,680 --> 00:53:18,240
We put what did we pay there,
4050?

1026
00:53:18,240 --> 00:53:20,120
Sixty.
I don't know, 25 per person

1027
00:53:20,120 --> 00:53:22,920
probably.
Yeah, yeah, it's crazy 50.

1028
00:53:22,920 --> 00:53:25,880
Even Yeah, there's a good bet.
Can you bet on a museum?

1029
00:53:25,880 --> 00:53:30,200
I can't imagine museums, this
being, you know, there's some of

1030
00:53:30,200 --> 00:53:33,280
them that you would make a bunch
and have them own and all that.

1031
00:53:33,280 --> 00:53:35,480
And, you know, they all make
their money in the summer.

1032
00:53:35,480 --> 00:53:37,560
It's like living at the beach,
you know?

1033
00:53:38,080 --> 00:53:42,120
Yeah, exactly.
Well, if anybody has any stock

1034
00:53:42,120 --> 00:53:45,160
tips for stock that we should
buy that they think is going to

1035
00:53:45,160 --> 00:53:47,400
go and give us a short little, I
love to hear.

1036
00:53:47,400 --> 00:53:49,320
Some stock tips I would love to
hear.

1037
00:53:49,320 --> 00:53:52,200
We we are always like kibitzing
about this and that the other

1038
00:53:52,200 --> 00:53:53,600
talk.
Ah, what do you think about blah

1039
00:53:53,600 --> 00:53:55,200
blah.
And it's like, no man, I hate

1040
00:53:55,200 --> 00:53:56,680
that dude.
The dude that owns it's an

1041
00:53:56,680 --> 00:54:00,160
asshole, you know, and that's,
that's enough reason not to, or

1042
00:54:00,280 --> 00:54:01,880
do you even really know what
that is?

1043
00:54:01,880 --> 00:54:03,680
And it's like, yeah, it's a
flashlight.

1044
00:54:04,000 --> 00:54:05,280
Oh, OK.
Well, we already have

1045
00:54:05,280 --> 00:54:07,320
flashlights.
Oh, OK, then screw that.

1046
00:54:07,320 --> 00:54:11,000
We're not buying that.
Or yeah, but they did.

1047
00:54:11,000 --> 00:54:13,360
They're they, they, they have a
really great ad.

1048
00:54:14,240 --> 00:54:16,880
Their website's cool.
Well.

1049
00:54:16,880 --> 00:54:20,160
As always, a record of
myfather.com, check us out on

1050
00:54:20,160 --> 00:54:23,320
all platforms and we will see
you next week.

1051
00:54:23,440 --> 00:54:24,840
Bye, bye, bye.