Investor's Edge with Gary Kaltbaum - Introspection - End of Quarter Review [03.28.2024 w Adam Sarhan]

Episode Date: March 28, 2024

https://garykaltbaum.com/

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Investor's Edge with Gary Kaltbaum. Straight talk about you and your money. Now from the BizTalk Studios, here is Gary Koltbaum. And welcome once again to Investor's Edge. I'm Adam Sarhan in for Gary K, who's out today. Today is Thursday, March 28th, 2024, the last day of the week, the month, and the quarter. As always, we have a great show for you tonight. Thank you very much for being here.

Before we dive into the show, I want to just a big brief overview. As you know, this is a show about you and your money and all the fun points in between. Just as a quick reminder, if you don't get the show in your city, you can go to garyk.com. You can listen live or archive. We are live Monday through Friday, 6 to 7 p.m. Eastern. Also at garyk.com, you can follow Gary on X or on Twitter by just pressing the button. Also on garyk.com. You can subscribe to get Gary's morning notes sent directly to your image.

box, you may email Gary, ask about his money management services, or join his premium service, which is convictionleaders.com. That's conviction leaders with an S.com. And there, Gary shares his thoughts about the market several times a day with members, gives in-depth daily webcasts, weekend webcasts so you can see what he's seeing and alerts members to stocks that are actionable, buyable and all that fun stuff. Get in, get out, and all the, basically you see the market from Gary's eyes and Gary's point of view, which I love.

So all that's available at convictionleaders.com. All right, so let's discuss the market. The end of the quarter, end of the month, end of the week. Tomorrow's the holiday, so happy holidays to everybody, by the way, before we even talk about the market, happy holidays and enjoy the loved ones and all that fun stuff. So

the end of the period, whether it's the end of the month, the end of the quarter of the year, It's a really good time to do two things. One, pause and reflect on your progress thus far. And I'll tell you something in a minute that Gary taught me years ago, which is the Yellow Brook Road, but I'll get there. And then two, plan for what's coming next. Plan ahead.

You know, Ben Franklin's got a great line. He goes, those that failed to prepare are preparing to fail. You know, I have a way of simplifying it by saying you either prepare to win or you don't. Or you're preparing to lose. It's just that simple. So people asked me on the story and how I, you know, I started listening to Gary's show, this show right here, Investors' Edge, which is surreal and full circle for me, back in the late 90s, early 2000s. And at the time, I was just, I was drawn to Gary. I liked his approach.

I liked his style. And every once in a while, he had a point of the show where he would pause and he would share things that he learned. And one of those things, which you know, I'm sure as well, if you're listening to Gary, is the importance of having a plan for yourself. And having a destination, having goals, and then do what Gary calls or get it from Wizard of Oz, is the yellow brick road on how to get there. And I love that. That was one of the best lessons I learned early on from Gary, not just about the market,

but also about life. So you have a goal. Let's say, for example, I'm going to use geography because it's easy to explain that and it applies to any other area, but we can all understand. Someone's in New York

and they want to go to California. Well, which direction are they going to go? Northeast, south or west? Well, first thing is that they're going to go west. They're going to head towards California. Second thing, they've got to figure out how are they going to get there? And then you look at all the options.

That's the Yellowbrook Road. Are you going to take an airplane there? You're going to hitchhike there. You're going to walk, take a bicycle, train, you know, whatever the case may be. Drive, it doesn't matter. Bus, there's a gazillion ways to get there. But figure out what's the best way for you to get there.

So first step is figure out that destination. Think of another way to explain this is there's two people both in New York and they want to leave. One guy's like, I got to get out of here. I hate it here. This is blah, blah, blah, blah, blah, just negative Nancy. And, you know, complaining all day long and playing the victim and blah, blah, blah, blah. The other person says, hey, you know what? I'm going to California.

Who do you think is going to get to their destination first? Person number one or person number two. Clearly the person with a destination in mind. Now, it may take that person with a destination in mind a very long time to get there, and that's okay. But at least they have a destination. That's huge. Most people don't.

Most people focus on what they don't want in life. What I want to help you do is switch. it and focus on what you do want. I was just on vacation last week. My kids are still young, so we went to other families down to the Nickelodeon resort in Punta Cana. Okay, great. So one of the dads, we had a pool in front of the room and a wrap around, all this kind of stuff, and then the ocean's right there. It's really nice. Last year I went to the one in Mexico. If anybody wants to go, I recommend the one in Mexico better. It's just newer and bigger and all that fun stuff. But that's not the point of the story. The story is this. The dad was frustrated with the son. The son's

seven years old. And he said, don't, he was sitting in front of the pool in front of the, in the balcony in front of the room. So it's like a wrap around pool. And he said, don't jump here because you're going to splash and get me wet. And there's on the left side of the room, there's a whole other pool area and it's wide open. And he kept on telling the kid, don't jump here. Well, what did the kid do?

He kept on jumping there. And the father got really upset and angry and all this kind of stuff. And he's yelling at a seven-year-old. I'm like, in my head, I stopped him. I jumped in after the, you know, he bursted out. I said, hey, first off, why are you yelling at a kid? That's number one. But number two, he wasn't conscious.

But number two, well, he wasn't drunk or anything. He just wasn't like meaning he's not conscious. He wasn't aware of his own behavior. But number two, more importantly, you're telling the kid what you don't want him to do. Instead, why don't you just tell him, go jump over there and make it fun and say, hey, little kid, why do you jump over there? let's see how far you can jump. Let's see how big of a splash you can do over there, which is away from all the people.

Communication, both internally to yourself and externally, is mui and portanto. There's my Spanish for the day. Excellante and mui important. No ablo Spanish. No speak Spanish. That's why I was just kept out saying everybody down there. So that, having clear goals, simple goals,

clear communication, clear instructions is really important. It's super important. Why? Because all of us need direction in order to function. That's how the brain works. And if you give yourself a confused mind doesn't buy, they say in marketing and sales.

A confused mind isn't going to make as much progress as someone who's got clarity. someone's got clear view on where they want to go. It might be difficult road to get there. I'm not saying it's easy, but at least have a goal at the end of the quarter. Pause, reflect. Did I accomplish what I wanted to accomplish this year?

Did I have any goals coming into this year? Most people will keep their resolutions, right? The New Year's resolutions. They go away after, I think it's like two weeks or whatever it is. Pause, reflect. Hey, how do I get back on track? What are my goals? How do I set new goals?

If you had resolutions and you've already accomplished them, great. Set bigger ones. But get those goals. And then create that yellow brick road like Gary talks about to get there. And then check in with yourself at the end of the week, the end of the month, the end of the quarter. Make sure you're on track. Accomplishing those goals. Progress in and of itself in any area of life is a much better way to live than having no progress, no goals, so on and so forth.

A positive optimistic outlook and a positive outlook is very, very powerful. And I'm not saying you have to be an optimist. You do whatever you want. I'm just sharing some life experiences with you that I've learned along the way. So hopefully it touches the next generation or the next person or another person listening. Like it touched me way back when I first heard about the Yellowbrook Road and the destination and all that fun stuff. And thank you, Gary, for that. Setting goals.

Checking in with yourself. How's my trading doing? What areas can I improve? And by the way, intellectual honesty. And be honest with yourself. How can I do better? What have I done? Right?

And what have I done wrong? Because it's easy to throw, you know, push things under the rug or pretend like the problem's not there and say, oh yeah, everything's great. Don't worry about it. Yada, yada, yada. Seinfeld reference. But pause. and be intellectually honest.

How can I get back on track? What do I want to accomplish by the end of the second quarter? By the end of this year? What action? Actions, it doesn't matter. What action can I take or actions can I take to help me get to that goal? And maybe you don't go very far, but at least there's a destination. Create that clear picture in your mind.

And then set positive affirmations and rear. reinforcements and clarity, positive steps to make sure you're moving in that direction. And have accountability. Napoleon Hill talked about this in his book almost 100 years ago about successful people. Accountability is one of the most important things out there. When you're trading, it's very easy to push things under the rug and not really have accountability because most cases, no one's really watching for individual investors and traders. It's their account, maybe their wives or their husbands or whatever it is, watch or care every once in a while.

But really, it's easy to just push it under the rug and not have that accountability. But raise your standards. Hold yourself up high. How can I improve? How can I do better? Because that's going to help you get ahead. Big time. Like Trump says, bigly.

So, as we put the end of the quarter together, hope this helps. Up next, we've got a lot more to cover. End of the quarter stuff. Market stocks, a lot more. I'm Adam Sarhan. This is the one and only. Investors Edge. Hi, I'm Gary Kalbaum, hosted a nationally syndicated radio show Investors Edge.

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will carefully evaluate your personal goals to determine a proper investment strategy. If your current approach to investing is not getting you to where you would like to be, call us to make an appointment for a complementary portfolio review. The number to call is 888-4-2-5-59. That's 8-8-5-59. That's 888-4-22-55-9. Investment advisory services offered through Call Bomb Capital, management. Hi, I'm Dr. J. Goodman, host of Beyond the Script, the podcast where I sit down with

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Investors Edge. The last bastion of quality programming. With Gary Cult Bomb. It doesn't get better than this. And welcome once again to Investors Edge. In case you're just joining us or missed any part of the show, you can go to GaryK.com, listen live or archive 24-7 from any device you want for free. Right on GaryK.com, just click on the radio show and bam, you got it right there.

and you can stream it or however you want, download it to your device, whatever you want to do, all for free. So, spent the first part of the show going over a topic that is dear to my heart, and that's goals. Q1 is over. Where are we this quarter? How are my performance? How can I improve? What do I want to accomplish going forward?

I have my New Year's resolutions in January. Now we're at the end of March. What can I do better? Where am I? How do I improve? All right, that's looking backwards. Now let's look forward. You know, set those goals. Are those goals? goal's big enough, or are they too small? You know, one of the books I read years ago, I can't remember which one it was, otherwise I tell you the title of it,

had a really good line about green light and red light and yellow lights. So, all right, fine. When you set a goal, let's say you want to do something simple, like 10 setups a day, or something simple. And I use working out because people can relate to it or weight loss or, you know, geography, things that are just common outside of trading because they apply to trading also, but I like to take, it's easier to see things objectively if it's a third part or remove yourself a little bit

from the analogy of the story or the metaphor. So you have a goal. Set a goal. This week I want to do 10 set-ups every single day. All right. Wake up in the morning and do 10 setups. Great.

Next day, 10 setups, great. Next day, 10 setups, great. So green light would be, I got that goal done. Now, let's say I want to do 100 setups every day. Well, I do, let's say, 20 of them. That would be red light because I didn't really do it. Well, I did some of them.

So maybe you can make that a yellow light. If you get past 50%, maybe, let's say I did 60 or 70, but not 100. All right. So that'll be yellow light. But if I did 10 or 20 and I want to do 100, then it doesn't really count. It's almost as if it's a red light. So you've got a green light if you actually do it. Get your goal.

Yellow light if you come close to the goal. And red light, if it's less, you know, you're just too far away. Or you didn't do that work at all. Let's see zero set up today. red light, no, yellow light, yeah, could be dead. Me, M-E-H, like people say, those kids say these days, or green light, you hit it, or you exceeded the goal. Right?

So, in a week, my goal is do 10 sit-ups every single day. Okay, fine. I did that, green light, green light, green light, green light, green light in this example. Then what happens by the end of the week? I'm going to set another goal for next week. If it was so easy, it's not really challenging. and a lot of growth comes from the challenge or the pain part of it. Get past that initial pain.

At first it's hard and then it's easy. Like riding a bike. At first it's hard to ride a bike, but then it's easy. Most people, when it gets hard, they go, I'm not going to do it, I'm not going to do it, and they back off. Just push through that little pain or that little hard part. Of course, as long as it's safe. And then the other side of it usually becomes real easy. All right. Or not real easy, but it's easier than it was initially, right? It was much harder when you first start something.

just how the learning curve works. So if it's too easy, those green lights are just happening all day every day. All right. Instead of 10 setups a day, I'm going to do 20 setups a day. And try that for a week and see how that works. If that's too easy, go to 30, go to 40. Finally, you're going to get to a certain point where it's pushing you, challenging you, but you're growing and you're accomplishing more.

So instead of just one set up a day or 10 setups a day, you're doing 20, you're doing 30, you're doing 40, you're doing 50, and then you're getting momentum. Being consistent is super important. And you're creating a habit. So the green light, red light, yellow light is really, really powerful because it helps people, all of us, have accountability for our goals.

And if the goal is too low, the bar is too low, it'll be green light every single day. Guess what? Set a higher goal. Real simple. And if the goal's too high, I'm going to do 10,000 setups every single day. No, you're not.

Red light, red light, red light. Hey, I've got a problem. I'm not accomplishing my goal. I've got to change the goal. Or change my action to get closer to the goal. That's a little trick or hack or whatever word you want to use that can help you accomplish more as we move into the second quarter of this year.

I'm extremely optimistic. Another side story for you. Years ago, not this trip, but a few years ago I took my family down to a resort in Cancun in Mexico and it was 6 a.m. I had young kids at the time and we have to go to the airport and we just woke up and you know I'm I wake up early but this you know kids are tired and all this kind of stuff so we're in line at the checkout and this guy behind me come back he's an older gentleman and he's just dripping sweat

had his shorts on his t-shirt and he came back from a run and I make small talk with him like what's this guy doing at like 5.36 in the morning and I'm like how are you and he goes excellente he's an American guy or actually he was a Canadian guy and he doesn't speak Spanish but you know, that was everyone, the staff at the place where everyone said, Excellente. So anyway, so all this energy. Excellent. He goes, every day above ground is the best day in my life.

He go, wow. He came back from a run. He's a doctor up in Toronto and he was just all like next level, you know, excellent. They just super hyper, super happy and super just full of life. Wow. Why not have that attitude towards every single day, right? So, same style.

One other thing that I can share with you is if we don't control what happens to in life, but we control how we react to it. And again, I'm pausing on purpose and not going into the nitty of the market because this stuff is structure. People need structure. Well, most people need structure to survive, right? To thrive. Not to thrive. We want to thrive. Right?

I think I saw this thing this morning with Tiger Woods where he said, somebody's like, how do you get so good? And he goes up to him. He's like, show me your hands. and he shows me his hands and his hands are soft. He's like, look at my hands. They're all callouses. I wake up at four or five in the morning. I swing the club every single day until my hands bleed.

What do you do, sir? Guy says nothing. He says on the computer. He's like, you don't want to be as good as me. If he did, get up and practice. Go do the work. Right? It's the structure every single day.

Michael Jordan would sit there and shoot free throws from 4. From 4.30 in the morning until who knows when. Day in, day out, day out. That's how the greats get great. it's having the discipline the structure being consistent having the clear focus a clear goal in mind super important stuff

and anyone can get distracted anybody can be busy I'll talk about being busy in a second too but that's not a skill answer busy I was just talking my wife about this the other day it's like anybody can be busy the key is

to focus on the highest R.O.I. Activities. What is the best, smartest, most impactful thing I can do? And just get rid of all those distractions. Filter out that noise. And then do the top ROI activities.

Think of like the 80-20 rule where 80% don't matter. 20% really matters of the things that you do. I go even a step further in my book in psychological analysis. I go 991. 99% of the stuff I do all day every extra really doesn't matter. It's 1% that really moves a needle, for me at least.

Focus on that 1%. I've got 20 tasks on my mind or whatever the case is, right? Yeah, I get rid of 19 of them. Just focus on the most powerful, most important task. Get that done, then do the other ones. It's like, you know, my kids are still young and they're doing school and questions and exams and tests. Do the easy ones first, do the hard ones first. Just do the hard one. Get it out of the way and then do the easy ones. Just get it out of the way. They come home from school. they want to watch TV. Just get the work done and then go watch TV. Do the work first.

Anyway, same thing here. I hope this helps, right? Because it helps you when you do the research for the market, when you plan ahead. That's so powerful. It sets you up to win. Up next, we've got a lot more to share. I'm Adam Sarhan.

As always, we want to thank you very much for being here. This is the one and only Investors Edge. Hi, I'm Dr. Jay Goodman. host of Beyond the Script, the podcast where I sit down with pharmacists to answer the health questions you didn't even know you could ask at the pharmacy counter. In this episode, we are diving into gut health with CVS pharmacist Victoria Motola, who explains why so many of us live with stomach issues we should not accept as normal. A lot of what I see is just like chronic bloating, chronic stomach aches. Like I get a stomach ache every time that I eat and it just

becomes like a lifestyle where, oh, yeah, you know, I just, I have a stomach kick every day. Or I'm constantly feeling like gassy. And all of those things are not something that generally, if you have a healthy gut, you should be living with. So that's when we deep dive. We deep dive into your medication. We deep dive into your OTC medication. And then at that point, we can probably identify something that we can change. Hear the full conversation, plus some fascinating facts about how gut health affects so much more than just your stomach on Beyond the script, a podcast from CVS Pharmacy and IHeartRadio. Listen now wherever you get your podcasts.

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your business loan may be issued by OnDec or Celtic Bank. OnDec does not lend in North Dakota. All loans and amount subject to lender approval. You are listening to. America is talking. Investors Edge. He's got to be pleased with that. The crowd is just on his feet here.

He's a Cinderella boy. With Gary Colbomb. It comes highly recommended. You're going to feel better if you talk to him. And welcome once again to Investors Edge. I'm Adam Sarhan in for Gary Kay, who's out today. In case you're just joining us or missed any part of the show, you can go to GaryK.com. Pause.

As forward, listen live, or archive. Up to you 100% at your convenience. all for free on GaryK.com on any device. So this is the end quarter today. It's Thursday. The Friday is off. The market's closed. And then we're back at it on Monday, the market that is being open.

But for now, I really want to spend a lot of time focusing on things that I, just pausing and getting out of the way and focusing on high level stuff. Why? Because that helps us become better investors, become better traders, become better traders, become better husbands, wives, people, professionals, whatever the task is you're doing, all this stuff that I'm sharing with you helps upgrade the user. By the way, that's one of my passions. It's all I've done in my life since I started way back when is upgrade the user. Most of the material in my book has nothing to do with investing or trading.

It's upgrade the user. That's why the book was number one on Amazon every day for three months. It's called psychological analysis. You know, the big two schools of thought right now have been fundamental and technical analysis. Fundamental analysis. You study the company, earnings, revenues, sales, so on and so forth. Technical analysis, you study the stock. Really important

stuff. Both of those. You study the pattern, the price, volume, so on and so forth. And I use both of those. I think they're both great. When I first got started in the 90s, they were kind of like feuding sports teams or feuding religions that don't like each other, you know, the jets or the

giants or this and that, the 49ers, the Cowboys, the Yankees, Mets, whatever. I'm like, wait a minute, there's good in both. And then I realized after years and years of studying, I'm speaking to people and just, I know I don't know. That's why I came into this business. I know I don't know. I didn't go to Harvard or Yale or work at a big bank.

So I have one job, and that's to learn. That's why I'm so passionate about all this stuff, upgrading the user. And that's what I did. And that's it continue to do all day, every day. I've got one job, learn, period. And then share what I learn with others. And that's right in the book. By the way, I only make $5 in a book, so I don't want you to think in any way shape

before I'm trying to sell you the book. I'm not at all. It just happens to be the culmination of my life's work. Read the reviews. It's on Amazon. So it's called psychological analysis. The idea there is there's something missing. If fundamental and technical analysis were enough to beat the market, everybody would

own a few islands in the Caribbean and be extremely successful in the market. It's not, in my humble opinion. I could be wrong. There's something missing. And that's a psychological analysis part, where it's a, upgrading the user. And the random walk on Wall Street, an efficient market theory, all that stuff. In my humble opinion, is a bunch of nonsense. Why? Because how do you explain Warren Buffett's track record? Charlie Munger, Paul Tudor Jones, William O'Neill, so on and so. The list goes on and on and on and

on of these people that continue to outperform the market. Gary, myself included, thankfully now, where over time, and I've studied these people, I study success. You can't tell me that the market's random when you got Warren Buffett beating the market for 50 years. It just doesn't make any sense. And he's lucky, fine. How about Paul Tudgeon? How about this?

You follow my point? It's just not, it something didn't make sense. So something, these folks are doing something different. What are they doing? Well, they're using the information that's available to everybody differently. They're taking that information. They're removing the emotion from the decision-making process. They've got rules.

They've got structure. I cover all this in the book. They've got things that they do to help them make better, smarter, more informed decisions. somebody told me one time he goes Adam we're not buying and selling stocks go well what are we doing he goes we're buying and selling risk the best investors out there the best traders are the ones that manage risk the best because essentially what are you doing what am I doing

we're risking a dollar to hopefully make two or make five or make ten really that's simple it's all we're doing all day every day so yeah I'm buying Apple I'm buying Tesla I'm buying the video I'm buying SMCI, I'm buying L MNOP, QRX or TUV. Gold. Gold broke out of a huge multi-month,

multi-year cup and handle. Go look on a monthly chart of GLD. Huge breakout. It is perhaps one of my best ideas. And I've been on it for months. I think we're at the beginning of a huge move in gold. Okay, great. And Gary's talked about this too.

Right? It's not only me. No. I'd be full-hearty, for lack of a better word, to think it's, you know, no. Anyone looking at a chart of gold can see it, huge cup and handle, monthly chart hitting all-time highs, got, you know, it's picture perfect. But what do you do with that information? How do you remove your emotions from the decision-making process?

All that's covered in the book. And that's what I share with you here, right? Have goals. Create structure. Ray Dalio, the biggest hedge fund manager in the world, talks about this. He says, set up guardrails to protect yourself from yourself and from others, but really to protect yourself from yourself. Why?

Because that is the biggest challenger in the room, your former self. You know, who's smarter? You today or you 10 years ago or 20 years ago? Hopefully you today. So, all right, who's going to be smarter? you today or you in 10 years or 20 years, hopefully in the future, right? What steps are you taking to upgrade the user? That's it.

So as you go through the market, as you go through your performance, as you go through you look at what's working, look at what's not working also, because it's really easy just to look at the success. Oh, I had a few good trades or I did this, I did that. Great. But how about the things that went wrong in any sport, in any profession, in any endeavor, you know, that has a performance-based outcome, like investing and trading, it's important to study both the wins and the losses.

One of the most important things I do, kind of a coaching service and I coach people with trading and investing, is to focus on your trades as if you're a third party. if you manage money for me, would you take that trade? How would you justify that trade? Why'd you enter? Why'd you exit? And the beauty of today, in the old days, we had to print out the charts. I had every trade I would do, I'd print it out, and I'd have two folders.

Winners and losers, winning trades and losing trades. And I'd write down on a piece of paper all the reasons why I bought this stock when I bought it. And then when I get stopped out, hey, all the reasons why I sold it. And when the market would go up after I sold it or go down or whatever the case is, I'd be right or wrong. And then what can I learn? Over time, if you just do that exercise, today you can just do a screenshot and write it down and save it in your computer. However you want to do it, print it, print it, whatever you want. But do that work.

You're doing introspection. You're looking at yourself objectively from a third party point of view. And you ask yourself, how can I improve? what can I do better? And if you notice, hey, maybe I'm chasing. I'm buying stocks extended. Maybe I'm buying stocks too early. Maybe I'm buying stocks too late.

Maybe I'm taking too big of a position and I'm just not comfortable risking 20% of my account in one idea. It should go down to 10 or 15 or maybe 10 that goes down to 5. I don't know everyone's different. But the point is, is you'll learn things about yourself. Because something happens. I don't know what it is. You can Google it. this journaling, you know, magic happens when you write things down.

I can tell you from my own experience, change my life. I never, as a kid, I never was a big reader or writer, any of that kind of stuff. Now as an adult, I am. And writing has changed my life. I wrote a book. I'm a contributor at Forbes. I write. I've got a report, a weekly report where I write 30 pages in the market.

I used to do this year, you know, and the people were like, eh, it's too much on findleadingstocks.com. Now it's just a video. It's real simple. It's a weekend report. Here's a bunch of stocks. Here are leaders. That's it. People don't want to read 30 pages.

I do. That's why I did that. That was years ago. In 2004, when I started writing 5, 6, 7, 9, 10, 11 and 12. I used to write 20, 30 pages a week about the market. I was so passionate. I'm like, yeah, I love this. I got to do this.

And then the audience, you know, members, they just didn't want. It was too much. It was overkill. Now it's a video, 20 minutes, bam, once a week, and you're done. Here's a warning report. Here's some breakouts report. You're done. Just some tickers.

It's all people want. All right, I get it. But something magical happens when you write it down. Here are all my trades. Here are the winners. Here are the losers. Let me study them objectively. If I had a third party looking at this, can I justify these trades?

Were they smart trades? How can I improve my decision making? All your buys, all your cells. You'll learn stuff over time if you do the work. It's not easy to look at yourself in the mirror. But that's the biggest challenge you have. It's not some boogeyman out there or some institution or some kind of nefarious, you know, group people that want to take your money.

No, just improve. Get better and better and better and better. And when you're done, better. All right. Up next, we've got some more to cover. I'm Adam Sarhan. As always, I want to thank you very much for being here. Hi, I'm Dr. Jake Goodman, host of Beyond the Script,

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generally if you have a healthy gut you should be living with so that's when we deep dive we deep dive into your medication we deep dive into your otc medication and then at that point we can probably identify something that we can change here the full conversation plus some fascinating facts about how gut health affects so much more than just your stomach on beyond the script a podcast from cvs pharmacy and eye heart radio. Listen now wherever you get your podcasts. Struggling to see up close, make it visible with Viz. Viz is a once daily prescription eye drop to treat blurry near vision for up to 10 hours. The most common side effects that may be experienced while using Viz include eye irritation,

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Investers Edge with Gary Kulp. And welcome once again to Investors Edge. In case you're just joining us or missed any part of the show, you can go to GaryK.com. Pause or wind. Fast forward. Listen to anything you want 24-7 on any device for free. Right on GaryK.com. If you want Gary's premium service, which I recommend everyone sign up to, you can do that on

Convictionleaders.com. That's convictionleaders.com. You take a free 30-day trial. if you like it. If it's for you, great. If you don't like it, cancel. So, and you won't pay until after the trial is over. You can't any time during the trial and not pay anything. So a few things here. We talked about, and this is the end of the quarter, right? End of the weekend of the month. I owe introspection. I always like to pause. I like to do a, you know, where am I type analysis and say, what have I done this quarter? How can I

improve, and I accomplished my goals, I gave you some tactics that I've used, some tactics I learned from Gary, some really powerful things that you can use, and they're all free. You just got to do the work, so to speak, about how to improve and how to upgrade the user.

That's one of the things I'm most passionate about in life because that will help you elevate your game. You want to get to the next level in life, whatever it is? Bam, upgrade the user. I had a career day at my kid's school yesterday, and I spoke to a bunch of seventh graders. And the first thing I did is walked in there and talking about investing.

How am I going to talk about it? I said, okay, how many wonders of the world there are there? Kids are like seven. I'm like, well, I'm going to introduce you to the eighth wonder of the world. And that's compounding. And then bam, right away, I've got their attention. I said, listen, kids, I'm the teacher for the next 20 minutes. And we had, you know, three hours, but it was 20 minutes at a time. And then new group of kids came in, 20 minutes, new group of kids. So I said, listen, normally the kids, you guys are quiet in the classroom, you're not allowed to talk. And with me, it's the exact opposite. I'm going to ask you some questions. I want you to engage. And the louder you are, the better. What? You can make noise in the classroom? Yes, and make a lot of it. How are you? They're like, okay, good. I'm

like, let me ask you again. How are you? And then they say, good. And they got some energy. So that's kind of what we did. And they enjoyed it very much. And I said, I have one rule. And the rule is we are going to have fun for the next 20 minutes. Who wants to have fun? Raise your hand. They raise your hand, right? So it went very well, thankfully. But in it, we talked about the power of compounding. And here's what I want to leave you with today. The power of compounding, at the end, it's not just about money. Yeah, sure, money compounds and that's beautiful and it's amazing.

But you compound your knowledge and wow. Compound your kindness. And wow. Compound the health and the quality of your relationships. And wow. Life changes for the better. And all that's free. to be nice to somebody

free. Doesn't cost a dime. Change someone's life. Has the power to change people's lives. So, has the power to change your life. Be nice to yourself. It sounds simple.

But most people don't do that. Most people beat themselves up all day. And they're never happy. They made 10%. Oh, man, I should have made 20. Made 20%. I should have made 50. I've got $10 in the bank.

Oh, man, I should have $200 in the bank. You got $200 in the bank? Oh, man, I should have $2,000. That's your choice. Right? It's at the end of the quarter. They'll take it back to the market for the next few minutes all we have left. Look at the leaders.

Hey, here are the strongest stocks in the market. Did I catch them? No, that's okay. Which ones did I catch? How could I have done better? Which ones did I miss? I missed them. I didn't catch them.

Well, nobody catches all the big winners every single cycle. It's virtually impossible. And the good news is it's okay. You don't have to catch every single major monster stock. It's virtually impossible, number one, to do that. Number two, I used to beat myself up and say, I've got to get in at the exact bottom and get out of the exact top. It's virtually impossible.

Now I just want to capture the bulk of the move because I can do that, right? Focus on what you can do. It's like the proverbial high school boy who goes into the dance and wants to kiss all the pretty girls. It's not going to happen. And the good news, you just need one. You'll be very, very happy. Same thing you were at the market. Catch one good big move or big trend.

And you do extremely well and it'll make your year. Catch two or three and hey, Merry Christmas and Happy Onagah. It's just, that's how it is, how the markets work. And the biggest competitor, the competition, you upgrade the user. Because the better you are in all areas of your life, the better you'll be at investing and trading. And that's how this all wraps up together. The market's a place of abundance.

Most people come to it with a position of scarcity or fear. the market's an abundant in the energy, the vibration, the frequency, whatever word you want to use. It's just, it's tremendous opportunities all day, every day, okay, you missed a stock. It's like missing a bus. There's another bus coming. You miss an elevator in a building. It's a better an elevator. Wait.

You're in a hotel. You miss an elevator. Okay, wait. Wait a few minutes. Another elevator's coming. It'll be right there. You didn't miss anything. All right.

Oh, man, I beat myself up all day long because I missed X, Y, Z. That's okay. You're going to miss big. I am. It's just inevitable. You have a choice. Do I beat myself up because I missed XYZ or do I focus and hunt for the next opportunity and learn from that? Why did I miss XYZ objectively? This whole post analysis about the end of quarter stuff. Okay, look back, fine, be objective and be intellectually honest and then set yourself up for the future. What can I do better in next quarter? How do I raise my standards? How do I do more? What

massive action. What more can I do? How do I be kinder to myself and to others? Be forgiving. Every decision is a trade in my mind's eye. Every decision.

There's risk, there's reward. There's good, there's bad. It's period. That's how it is. The lights on, the lights off. Should I cross the street? Yes or no. Well, if I look both ways

and I cross the street, the risk is very low. The reward's very high. I get to the other side of the street and that's where I want to go. Okay, great. I'll take that. trade. Now, it's a busy highway and I'm blindfolded. Should I cross it? No. Why? Because the risk is

extremely high. Same thing with every decision you make. I'm just using the example so you can easily see it, but it's the same thing. Just about, let me just hedge it just by saying, just about every decision we make is a trade, right? Could be viewed as an element of risk, element of reward. I don't like to speak an absolute. You throw that disclaimer in there. And no investment advice is being given and investing involves risk and all that kind of fun stuff. Do your own homework and double, triple, quadruple check everything I say and so on and so forth. No earnings claims are being made. No results are not typical and past performance is not indicative of future results and so on and so forth.

But you get where I'm going here, right? Most decisions in life, I view them as trades. Real simple. I told the kids yesterday, I said after you buy a stock, only three things can happen. And I ask them, what do you think can happen? And they tell me, they're right. It can go up, it can go down, or it can stay the same, or go sideways. That's it.

It doesn't matter if it's Apple, if it's gold, if it's silver, if it's anything, that's it. So, hope all this is helpful. I'm out of time for today. Enjoy the holidays. Have a great weekend. Gary, I believe we'll be back on Monday. And enjoy. Enjoy, enjoy.

Life is a gift. This has been Investor's Edge with Gary Cultbaum on BizTalk. To listen to past episodes or to get in contact with Gary, go to GaryK.com. That's GaryK.com. Guys, it's no use putting it off. The best time for an underwear refresh is now. Tommy John underwear is designed for a perfect fit that stays put all day. Their zero-chafe thanks to four times more stretch than competing brands,

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