The Iced Coffee Hour - REVEALING Our BEST Investing Strategies For 2020 | Ep. 5 ft. Financial Education Jeremy

Episode Date: June 21, 2020

Today we’re discussing how we invest in stocks and real estate, and our thoughts on the current market - enjoy! Add us on Instagram:  https://www.instagram.com/financialed... https://www.instagram.com/jlsselby https://www.instagram.com/gpstephan Jeremy's YouTube: Main channel: https://www.youtube.com/channel/UCnMn... Second channel: https://www.youtube.com/channel/UCCmJ... Send any voice submissions to [e-mail]  (10-15 seconds max) can be about anything- and we will respond in the next podcast! Get 2 Free Stocks on Webull when you deposit $100: https://tinyurl.com/yd9slfax Join the 2x weekly mentorship group: https://tinyurl.com/yaexko4o The Equipment used: https://tinyurl.com/y78py5g2 The YouTube Creator Academy:   Learn EXACTLY how to get your first 1000 subscribers on YouTube, rank videos on the front page of searches, grow your following, and turn that into another income source: https://bit.ly/2STxofv $100 OFF WITH CODE 100OFF  For Podcast Inquiries, please contact [e-mail] *Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. Learn more about your ad choices. Visit podcastchoices.com/adchoices

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So welcome back to the iced coffee hour with Graham Jack and we got Financial Education Jeremy. Now, for those that don't know you, you got a YouTube channel. It's called Financial Education and then you have financial education too. So we're going to be going into some of your background. But also in this episode, we're going to be talking about the stock market, how you got started, how you built your wealth pretty significantly, I would say, over the last few years. Doing YouTube full-time, what you think is a good investment right now. We're going to be talking about the Roney Roe.

Sinoa situation. Holy smokers. This ain't no jokers. Some of the worst investments you've made, some of the best investments you've made, whether or not it's worth it to go to college. What else am I forgetting? Gambling. Oh, yeah, gambling.

How Graham always wins and you always lose. I know it's amazing. It's going to be an exciting episode. Is there anything else I missed that we're going to be talking about today? There's a lot more than that, but I think that's some of it. So, yeah, so you guys are... Hertz. We're going to talk about Hertz.

Oh, yeah, we're going to talk about Hertz. So it's going to be a really interesting episode. But first, let's see... start with this welcome back to the ice coffee hour folks holy smoke is this ain't no jokas i am on the podcast with uh mr jack over here and mr graham stepan uh thank you for having me and i made sure i had a troll a little bit i had troll a little bit let me just say first off i'm not a fan of starbucks anymore they wrote jerry instead of jeremy come on jerry come six dollars for this and you can't spell my name you spent six dollars on that did you really almost something like that

like 575 yeah it's that's insane it's it's a vanilla latte for anyone who's not aware. 20 cents. This is stronger than that. It's all cream. Really, they only give you that much coffee. The rest is ice, and then the rest of it is cream. Yeah.

And imagine if I invested that $6 and got just a 10% return. Oh, my goodness. So anyway, for those who are not aware, you run one of the largest stock trading channels on YouTube. Yeah, I would prefer to say stock investing, but stock market investing. Yeah. So financial education, my main channel, and then I have the second channel, financial education, too. and yeah we just talked about stock market investing all the time and honestly you know I love it that's what I love to talk about yeah but you didn't start off with that

we started off with with real estate photography was it yeah so I started out with a real state photography business in terms of like my entrepreneurial journey yeah and then I was 25 okay yeah 25 and I was just like I was bored I didn't have that many clients you know you like start a business you know I'm that many customers and then I was like I got to do something so I had this little GoPro camera and I was like I don't know put this on the tripod and start recording some videos it was like super wide angle and that got me on the YouTube journey and I remember that I remember it's fun by the way you're gonna hate this you go to your channel and you sort videos by all this yeah it's it's funny it's like a hundred videos with like just one-minute

videos yeah they're all like one-minute videos what is a checking account what is the savings account and that's how you got started on YouTube yep and I've always decided to keep those videos up So just like people can see the journey on like, you know, where I started. Because I remember looking, when I started on YouTube, I remember like looking at like past videos of big YouTubers and being like, wow, they were like, you know, they were at this place. And I always hate it when like some of the big YouTubers would delete their old videos. Because it's like, it's like motivation. It's like, wow, they were nobody. And they grew of following.

And it's like, it's amazing. Yeah. That's fun. So, so you were doing real estate photography and then YouTube for fun. YouTube. Yeah. Okay. You weren't making any money.

YouTube back then. No, the first year pretty much I didn't. I mean, I made hundreds of videos that first year and didn't make hardly anything. I think that I think the first time I got a YouTube check was at least probably 10 months into my journey. And that was probably 200 videos in at that point. So yeah, it was like, am I wasting time here? Like what's going on? And then finally it started to click.

And I remember that first like YouTube check, which was like literally like 100 bucks or something. It was like all the money in the world because I was like, whoa, I actually made money from YouTube. What? You didn't want to do it for money. You wanted to do it just for fun? Well, I always knew you could make money. So I was like, if we get to that place, like, that's going to be awesome. But, you know, if we don't, we don't.

I'm like, the worst case scenario is I put out a ton of videos, a ton of content. And it helps out hopefully people and just understanding like basic financial stuff. And I was a little afraid to go stock market, even though that was always like my main passion. I was always kind of a little afraid to go there because I didn't know like what the laws were. Like, were you allowed to? because when I started there weren't like any big stock market channels right so it was like can I legally talk about my opinion on Apple stock like is that like allowed am I going to get in trouble for that like I really like had these thoughts and so I was really afraid to go there and I didn't start

going there until the end of that first year and that's when my channel started take off once I started getting into stock market investing stocks I was buying everything really started to change for me and I was like this is perfect like this is exactly what I want to do but you were still doing real estate photography then like how are you making the bulk of your money real estate photography okay yeah real estate marketing like videos for homes I was doing like drone videos before like drone videos were a thing there were some high-end properties I mean this 2015-2016 like most most realtors were not using drones to market at that time

other than maybe like LA and stuff but out in Vegas it wasn't like a big thing yet so I kind of like hopped on that wave before like other people knew it was a thing and that's how I like drove that initial business people like whoa you you fly around a drone and it was DGI, just came out with like the DGI Phantom 3. And yeah, and now that's what actually helped that business out. And that's what paid the bills. And that's what got me through to keep doing YouTube essentially.

Because I think if I honestly would have started working a normal job again, I probably would have quit. Yeah. But you were taking all that money and then, what, just putting it in the stock market back then? At that time, yeah, paying bills one. You know, I had one of my children at that time. I had just gotten married. So I was at that time with the real estate,

I was mostly using that money to pay bills, fund the YouTube business and then yeah try to invest a little bit here and there so and then when did you start getting really heavy into the stock market because this is what bringing you on today

you're going to be talking stocks so 2008-2009 is when I start research in stocks started investing and I started investing heavily once I started working at QT which was we have to go back to like 2010 for that 2010-2011 and yeah that's when I started really investing a lot as far as YouTube you know

I started really talking more about stocks about 2017. That's when I start feeling comfortable to put myself out there. And that's a whole, that's a whole other thing there. When you start talking about stocks, because stocks move up and down every day. So you have to really have thick skin because if all of a sudden you talk about I'm going to buy, you know, a Tesla stock today. And Tesla stock the next day goes down 3%. Everybody's like, oh, you're so stupid. You should have waited to buy Tesla stock. You know, it's a tough. I get so nervous. Anytime I missed a video in the stock working. Jack knows. I'm telling them like if Monday is green, we're going with this. If it's not green,

my whole video is ruined. Really? Or I don't think it's about the same day because I know if people watch it the next day and something different happens, it's like, there's the video. I've planned out whole videos like that where I've got like ready to post but something changed. Like I can't post anymore. Yeah. Yeah. Like all is, you know, talk about a stock market collapse. The next day the Dow goes up a thousand points. It's like, oh, what did I do here? So you built your channel though on just very basic videos. Remember seeing them. back then because you and I was you started right before me yeah and we were neck and neck oh yeah watching your subscriber guy you hit 50,000 before I think almost anybody else did

you were one of the first channels to hit 50,000 subscribers yeah no that was a finance channels yeah finance channels no and I know you know we spoke about this many times you said like I was an inspiration back then for you and now I look at you as an inspiration because you've shown the whole space like what's really capable of and I'm like you know I don't think I would be at the level I'm at without you because you've opened up my mind to what's possible on YouTube. Click bait. Oh gosh. Click bait.

Edit that out. Explosions and thumbnails. Crazy thumbnails. Yeah. That's what people are really like, it's funny to watch everyone else do the thumbnails. One of these days it's not going to work anymore because everyone is doing it and then you have to go back to something else. Like a monotone person.

Yeah. No, but it is. In all seriousness, you've been, you've been a huge like inspiration for me. And I think, you know, for anybody in the space, just realizing what's possible, like, it's not just like a super niche thing. You know, you look at the type of view counts you pull in. These are, this is like big for any YouTube channel. Not just like, oh, it's big for a finance space. It is.

It's an exciting time, man, for the whole space. It really is. It's so exciting right now. It really is. So, so you're doing now coming up from all that you're just doing YouTube full time. Yeah. You made the switch. When did you make the switch to decide, like, listen, it's my real thing. Yeah.

That was the beginning of 18, I think, 2018, if I recall. I was starting to think toward the end of 2017. I was like, I was doing the real estate marketing business. And that at that time was pretty much bringing in just as much money as YouTube. But the YouTube numbers were increasing so dramatically that I was starting to realize, like, the time I was putting into attracting new real estate marketing clients, keeping those ones, that it just, it was a really poor ROI compared to what, you know, where I was going with YouTube. Like, it was clear people wanted. Like, for instance, I. remember being on this happened several times like on real estate marketing jobs like doing videos or

photos or talking with you know realtors or whatever and something super important happening in the market and being out on a job taking pictures or doing a video or whatever conversating and just being like i need to be home like recording this video right now yeah and and i was just like this is crazy like i am literally like not making a wise financial decision by staying with this um and so i dropped the business you know i talked a lot of people about it and i including my mom. She's like, no, don't let it go. No, I just dropped it.

I was just kind of like, whatever. I'll just let it go. I sent out a mass email to all my customers, and I was like, you know, I'm going to- I can subscribe. No, I don't know you. I think I was still, yeah. It's funny, I think I was still a little embarrassed about YouTube, so I don't think I told them

what I was doing. You know, because it's like, it was like that thing, like, because, you know, people are going to be like, are you crazy? Wait, you're going to drop a legitimate business over here to do YouTube? You know, and I think a lot of people still don't. understand like you know this might be made on YouTube and social media and all these things it's not just like followers don't mean anything you know so yeah it's true I didn't I was embarrassed when I started doing anything I still I have not like on my my personal Facebook I would say is where

I have like all my friends from like high school and middle school that I'd never once talked about on YouTube wow yeah ever once never told them like he's a channel yeah they was so embarrassed I was like what if someone clicks on my video and there's like 10 dislikes on it People are being in the comments. They're like, what was grandi? I just so embarrassed. So I never told anybody. I totally sympathize.

Same thing here. I didn't even tell my family most of the time. And I remember back then I'd be embarrassed to like record. So I would wait for like my wife to go to bed to like even record videos or like if she was out or something like that, you know, and like close the door and like recording YouTube video. Because it's like it's a it's a weird thing, man. So I remember that whole stage. And now I'm like people.

like, you know, because, you know, I have workers and different people that, you know, come to the office and they think, like, they got to get out of the room. I'm like, dude, I literally could film in front of 100,000 people. It doesn't matter. Like, I can't, I can't do that. Oh, really? I tell my girlfriend, like, you got to put on, you got to close the door. Yeah.

You got to put on those noise canceling headphones, and I'm going to film. And I'm like, and if you're, like, walking around here, I stop. What? It freeze. It freeze. I don't, because I mess up what I taught. Okay. And sometimes will repeat the same thing over and over.

Yeah. I'm just embarrassed. So now you're just basically, you're making YouTube videos and trading stocks is full time right now. Yeah. What does it like for you to make money in the stock market right now?

Very easy. Unfortunately. I mean, you know, there's days, you know, recently where I'm like, you know, it's like 50K, 80K, 100K, like it's been really easy to make money lately. I don't think this is going to last forever and I don't mean to jump ahead to, you know,

because I know we're still talking about YouTube jury and stuff like that. But right now, You know, the market's just been hot, man. It's like the last two and a half months, it's been crazy. It's just been up on the straight line. Are you down since December overall? Because let's say January.

So you're way positive. Way positive. Yeah. Yeah, way positive. I mean, it's like, you know. What do you attribute that to? Well, a lot of different stocks have helped me out, but Tesla's a main one. Okay.

I think I'm up over 300% on Tesla right now in the public count. So that one alone is like, how many Tesla shows do you have? In that account, 150. I think in total, I don't know exactly. number probably around 300. Okay. Gotcha. Now you have the public account. That's the one that I see you post all the time. Yeah. The public account just really just go all the time high. Remember when it hit like three something? Yeah. Like it's all time high. How much is in the public? I think over 600. Yeah. 600,000. Do you contribute regularly to that account? Or is that purely just you're growing it with

stops? I contribute to it when the market's down. There's more to life than finding the perfect car. But finding the perfect car can help you get the most out of life. Like the SUV that handles everything from drop off to off road, and the car that hulls groceries and hockey teams, or the van that's gone from just practical to practically family. Whatever you want, wherever you're going, start your search at autotrater.ca, Canada's car marketplace. Or there's a specific opportunity in the market that's huge

where I'm like I got to funnel money in. Unfortunately, since the market's been going up, I've hardly funneled any money in. So the gains lately, I've just been coming from every stock pretty much I own in that account going up. I mean, heck, even Carnival Cruise Line's been going up lately. I mean, that one bottomed out at like eight and I think it's over 20 now. Yeah. You know, so it's been incredible.

Yeah, the gains have been insane the last few months. So yeah, the public. And then what's the private account? How do we? So I have private accounts. They pretty much mirror the same stocks. Like if I owe, if I buy a stock in the public account, I'm probably buying in my private accounts as well.

Now, how impressive, though, is the private account? Because I don't even know this. Like, is it over a minute? It's got to be over a million. You know, I would tell you, but I would have to own your YouTube channel after that. It's got to be over a million bars. If you give me the Graham Stephan show, I'll show you what's in it. It's got to be a book.

But don't you show what's in the private account to the people who join the membership? No. You don't. But they can see every position in the public account. Every single move I make, anytime I buy, sell a share, and they know about any move I make before I even make it. So I'm like, hey guys, I'm going to probably buy this stock tomorrow or I'm to sell the stock. You know what would be really funny with you to do? This would be sneaky of you to do. In the public account, you buy everything. Yeah. And then in the private account, you're

shorting. Oh my gosh. You buy Carnival Cruz 15 and then you shorty. Oh my God. Dude, wow. Wow is all I get to say. Wow. That would be a very unprofitable endeavor considering like the majority of my stocks are up. But yeah. That would be hilarious. That would be a money-using proposition. I'm joking. So your private account is really just, that's your investment portfolio. Yeah.

And I have multiple private accounts too. I have my main private account. Why do you call it private accounts? Why was to say like that? Because for the stock market group, the public account, so they know this is public to you. You get to see every single move by making that account. Buy, sell, everything's documented, cost basis. You get to see literally screenshots of the account.

Whereas private account, it's just more for like privacy. Like I'm kind of weird about privacy. Like I like, you know. You don't like people knowing like your network. Like I don't share really anything about my family. Like you know, you don't see my kids in my videos or even on Instagram for the most part. And that's where you would likely see stuff. I don't share my wife.

I believe like although I'm out there, I still like have some boundaries with privacy. And you know, I understand like a lot of people in social media. They don't care. They're like just post everything for me. I'm just like this boundary. I said. I'm like, I'm not willing to go that far. Why, why, why is that account off limits? Whereas the other one, the other one, how I started that was basically, so everybody in the private group could see me build an account. Yeah. Like how I, how I build a portfolio and how

I make moves, how I actually like buy and hold. Like, I'm not just like trading in and out of these stocks every day. And so it's like, it was a new account when I started. Like, how much was in it? Like a couple thousand bucks. Like that's right new. 600,000? Yeah, 600,000. You've been buying. Yeah, how much have you put in since 600,000? I don't know, because we're up like 200K right now in paper profits. But also we took profits in 18.

We took profits in 19. I think in 19 we took 30, I want to say like 30K in profits. I can't remember the specific number. So it's hard to, you know, I would say at least half the money in there was deposited, though. So you're about 100% in three years. I would say so, yeah. I mean, fidelity calculates a sat. I can pull it up right now if you guys really want

I can pull up right now in the I just got to make sure you guys don't see the private account numbers I want to know it's right yeah I want to know it too it's gonna be some weird stuff I'm sure so the reason you hide it is just to hide your net worth from people you don't want people knowing I think it's more fun that way

honestly I think it's more fun I do my guess is there's got to be close to 1 1 1⁄2 million that's your guess yeah I'm gonna I'm gonna guess you know what so I'm gonna guess 2 million dollars so the public counts at 584 right now and it looks like on Friday we made $5,411. One year rate of return is 74.58%.

So we've done pretty good. But the huge dip tore us up. Like look at that downward move and then look at how it's just gone, you know, crazy sense. Whoa. But yeah. Now that's led a lot by Tesla because seeing it increase that much. Yeah.

Yeah. I mean Tesla's up, you know, over 300% in that account. It's, let me look at Tesla here. Yeah, 300. it. 311% we're up 106,000 on Tesla there. Let me ask you this because while we're talking about Tesla, is it too late to invest in Tesla? Oh, that's a tough one. You know, I got to say if you're a long-term investor, I don't think it's too late because I, you know, I personally believe it's going to be a $2, $3,000 stock in the future, you know, over the next five years or so. But at the same time,

if you're if you're trying to do a short-term move around it, I just don't think it's a right stock to do it around. It's too volatile. It's almost like it's one of those stocks that Very few come along, kind of like an Amazon, an Apple, a Google, where you just buy it and you just hold it, man. You just throw it in the filing cabinet. You try not to look at the stock price. If it's at 500 a year from now or 2,000, you try not to make judgments off that. It's one of those you just buy and you forget about it. Don't you think a lot of people think the same thing that like Tesla is going to be the next, you know, Amazon or whatever?

And they're all piling into it now with that expectation. And don't you think that's maybe influenced the price rate? Because part of me looks at the company. This is maybe like four or five hundred bucks. Yeah. But it might never get there because people just have so much faith in the company that it's never going to hit what it's, I think, kind of valued at. Well, with these special opportunities, they really just trade, you know, way ahead of themselves, like years in advance. Amazon's done that since the beginning of time, you know, since when public in the 90s, it's always traded way ahead of the market.

Because a lot of investors just look at it and they're like, it's just the future. And obviously it's now as well when it comes to Amazon. And that's why that one's out of $1.3 trillion market cap right now, Amazon. Because if you're trying to base Amazon off of what they're doing today, there's no way at $1.3 trillion valuation makes sense for Amazon today. But when you base it off of what they're doing in five years, it might be a steal. So, and that goes for a lot of these great companies, you know, there's been a lot of times where Apple's been way overvalued. And there's been times where it's been undervalued. So, you know, sometimes these long-term investments, you have to throw it in the filing cabinet.

That's been the hard part with me with stocks over real estate because real estate, I feel like there's a very definitive range of value. And it's very easy to buy it purposely undervalue. Whereas stocks, it's like, this is what it's trading at and you have no clue if it's ever going to go down. Or people just continually get excited about it. Yeah, yeah. No, I can fully understand that. I mean, I feel like some of these stocks, like a Tesla, you have to view it in the sense of buying a real estate property. Whereas if you buy a real estate property across the street from you today, you're not thinking about, oh, I got to sell out if it goes up, you know, 1% tomorrow or something like that.

You're focused on what is that property going to generate me over, you know, year and year out for the next number of years. And so I feel like some of these, a lot of stocks in general, I should put it that way. You've just got to kind of view the same way. Like, what is this business going to likely do over the next five, 10 years? What am I going to likely see? What's the downside risk? What's kind of the worst case scenario with this? And I think you've got to view it very similar to real estate rather than view it as these arbitrary numbers that are jumping around each day.

Is that why you call it investing rather than trading? A hundred percent. Yeah, you caught on to that. Yeah, because trading, it's really a mentality of got to get in, got to get out. I've got to time this. Get boom, boom, boom, boom. And you're making moves all over the place. Whereas investing, it's more like I've looked in this asset.

I fully understand on a very high level. And I understand the valuation. And I likely understand where it's going over the next five, ten years because I've researched it so indefinitely. that I understand it on a level that the CEO would understand it or somebody high up at the company. And I'm making a wise investment decision. And so you invest in it like a real estate investment property, but it's with a stock of a company. How do you learn how to do that? A lot of, you know.

Where do you go? Do you go to in Jeremy's private stock market group? How much do you pay to have to whatever? A lot. Okay. No, no. But in all seriousness, you know, how I learned initially was watching Warren Buffett YouTube interviews on that podcast.

Yeah, on YouTube. I would go to the computer lab at the community college. And, you know, this is back in old school YouTube days at this point. This is like we're talking 2008, 2009, even 2010 a bit. And I was just like Warren Buffett interview and just watch interview after interview. And throughout watching those interviews, and, you know, a lot of it could be wasted times because they talk about what's going on the market right now. But in a lot of those interviews, he would go into his investment process. And, you know, if there's an hour-long interview, you're going to get 10 minutes probably in there that's really, really valuable.

And that 10 minutes was worth watching a full hour. And so that's how I learned a lot. I read a few books, but the books didn't really help me. It was those Warren Buffett interviews and then getting in the market. That was the biggest thing. Warren Buffett's investment strategies are still effective. I always get back to ask that. Yeah.

So I think they're not as a, I think his principles are. Yeah. You know, specifically what he's looking for in stocks and a company, yes. But the unfortunate thing for Warren Buffett is I think he kind of aged out of the market, whereas he doesn't invest in tech stocks. He, you know, chooses not to do that. And it's like so many companies are tech now. I mean, even, you know.

Yeah, it goes against what you were saying, though, is that they're trading years ahead of where they actually are. And if Warren Buffett's all about value investing today, tech stocks don't fit that because they're valued higher. Sometimes you can get tech stocks for a very good value, though. An example is, you know, a company I bought a few years ago named Cirrus Logic. another company I bought with SkyWork Solutions, two that have done me amazing tech stocks. They're semiconductors.

They make most of the like chips that go into your iPhone or Samsung or whatever, smartphones. And those are tech stocks, but they were trading at really attractive values. They were trading at 4Ps of when I bought them, I think like 12 to 15 range, which is incredibly low for the stock market. So it's not impossible to find good values in tech. Sometimes like a Tesla and Amazon, a Shopify's a whole other level. that one trades at like a 5,000 forward P or some insane number. You know, those ones, I can really fully understand Warren Buffett saying maybe not those ones,

but there's a whole other gamut. So, you know, like anything in life, I think you just kind of age out. One day we'll age out of YouTube, I'm sure. And, you know, it's just like that in every industry. You just kind of, you age out, you don't understand the new concepts and new ways of selling. I mean, you came from real estate industry. I'm sure there's older realtors that back in their day, they were moving properties is crazy and then new things change, social media came and all of a sudden it was like,

whoa, this person, they don't just, they don't get how to sell properties in 2020. They're trying to still sell in the 2000 wave. So, yeah. What would you say are the best principles you learned if you're willing to disclose? The best principles I learned looking at the fundamental business and focusing on that first. Don't worry about stock price. Don't worry about valuation. Don't even worry about the financials at first.

Really look into the company. what is this company doing view it on a very specific wave where you're trying to you know what does this microphone company do how do they make money who are their competitors uh that's the way you want to do it that's that's the most important thing and making sure you understand you have a circle of competence around that from there then you can go into valuations then you can go into the financials income statements balance sheets cash flows all those sorts of things uh you can go into conference calls but you've got to understand the business first where a lot of people get into trouble is they'll buy a stock because they heard about this stock and they're like

oh i got to buy this and it's like they may not even understand the business on a fundamental level it's so key it is so key it's the most important thing so um so on the topic then it's stocks what do you think it hurts hurts that's a ridiculous situation so hurts you have a company that's filing bankruptcy you have the stock should be going to zero like when a company announces they're they're going to go bankrupt like they should be going to zero the shareholders usually get nothing if there's anything the you know whoever gave them debt gets the money first then if there's any money after that's bonds and so the shareholders should have got nothing in this whole deal yeah lawyers yeah everybody makes money except really shareholders and then the stock got bought up so crazy why why why did

people buy the stock i don't know people shorting it it was it like a short push yeah so there was a there was a lot of people that were shorting it understanding it's likely going to zero and then on top of that you had this whole wave of people start bidding it up and because it got to be a hot stock more more people start buying it, which caused more and more short covering, which if you're going to cover your shares, you've got to buy the underlying shares back. So if you have 100 shares short and you get, let's say, you know, called on it where your brokerage says, hey, you've got to, you got to buy that you've got to cover your short position. Then you've got to buy 100 shares. So that makes another buyer in the market. And when that's happening in mass, you get the stock

to go up, up, up, up, up. And the amazing thing about this story is, it's one of the only things I've ever seen in the stock market like this. They're actually going to get to raise money because The stock's gone up so much now. To potentially not go bankrupt. I've never seen anything like this before. Well, the judge issued a billion dollars with the stock. I've honestly never seen. You know, you couldn't make this stuff up.

Like, it's incredible. When a company, like literally 99 out of 100 times, the company says they're going bankrupt, the stock's going to zero. There's no way of saving it. Well, I remember JCPenney. And I was actually, I can't believe I'm saying. I was thinking about investing in JCPenney.

Oh, boy. But this is after they filed for Bancel. And I thought, you know what? It's just like, how much worse going to get from here? I really had that mindset. I didn't do it. But I was saying like, how easy it would just put like three, four grand in there? Yeah.

It can't get any worse. Maybe you get lucky. Yeah. And maybe that's what would. And then sure enough, it like tripled in price right afterwards. I'm like, I should have done it. If I bought it via three, sell it a 10 and made like $7,000 profit in the days. Oh, gosh.

I didn't do it. But I think that's the mentality of when it hurts filing for bankruptcy. I think it's like it's down so much. And it used to be this big stock and now it's down here. It's like, so what? Just risk a little bit of it. No, and there certainly is a group of traders out there that like to try to play these type of plays and get in and out. And there's nothing wrong with it.

But from my perspective of looking at it from an investment perspective, it's just not an activity I can get into. Because this doesn't make any sense. Like if you're buying into a failing business model, business mall is going to fail. You know what I mean? Like it's just when does it fail? Does it fail this year? Does it fail next year? does a fail in three years from now.

You just know it's going to go bad. It's no different than imagine, you know, there were people in the, you know, the city I live in Vegas, right? There were people in the housing boom, right, that were buying properties and selling them the next day and making like $10,000, $20,000. Because it was sad and saying they would be lines to buy like a condo in Vegas. Like I've had, you know, realtors sell me this before and like lines to buy a condo. People just buy it with no money down. Flip it the next day for like $10,000,000,000 profit or in a week or so. craziness, right?

And it's the same thing in the stock market. It happens all the time. You have this group of people that are going to try to speculate, and sometimes they can get lucky. It makes some very short-term money. But at the end of the day, it's not a long-term investment model. It's just not. I mean, you can look at anybody you really respect in the investing category

who's ever achieved a huge level of success. None of them got there from trying to get in and out of Hertz. And you see Penny Stock, like it doesn't work over the long-term. It's more of a gambler's mentality. What did Hertz go bankrupt? What was so bad about Hertz versus like enterprise? I haven't looked at the company on that high of a level. I'm guessing it's probably balance sheet related.

They probably had a bad balance sheet. Rony Rona comes out of nowhere, knocks them for a loop, and all of a sudden they're stuck in a situation where like no money's coming in. Oh, we got all this debt payments. I'm assuming that's what's happening there. They probably got a bunch of debt payments. No money coming in. What are you going to do?

You're going to probably go bankrupt. And they already have fundamentals issues there because they have so many competitors on the come-up right now. that are apps where you can rent cars. Turro. Turro. You know, that's just one example, right? And then you have on top of that Uber and Lyft and people are like, I don't even need a rent a car.

If I'm going to go visit L.A., I'm just going to Uber around. Lifter, man. Why do I want to rent a car? Like, it would be just simpler if I do this. Scooters, you know, the whole game has changed for Hertz over the past 10 years, really, and it's gone for the worst. Speaking of Uber, I saw California now classifies Uber drivers as employees. Yeah, that is going to be interesting.

Yeah, that's going to be interesting to see how that plays out. What I think is going to end up happening is we're probably going to have to make more full-time drivers where they do have benefits and everything, but they have to drive specific hours. And for, you know, some Uber drivers, that's going to be great. They want to, you know, set schedule. But for a lot of them, actually probably the majority of them, they like to control it. You know, so I'm not sure it, you know, for some people it's going to be better, for some people is going to be worse. I think for 90% of people is going to be worse.

Yeah, I agree. I think is meant to be a job that you can be like, hey, it's eight o'clock. Your plan's got canceled. Let me turn on and let me work two hours and then stop. Yep. Make a little money. Let me go all night. Yep.

What I think is going to happen because one of the things that I've read is that the reason they classified these drivers as employees is because Uber is the one that sets the price. And so these people don't, even though they're independent contractors, they can't set their own rates. So what I would like to see that I think would greatly benefit Uber is that, you know, I think within reason, the driver. the driver can set their own rates. That would be a tricky.

You know, a price up front. That would be the thing is like when you go on Uber and you're like within a second, it's like, oh, how much is that price? You're going to have to wait for people to bid it up. Do you think prices would go up or down for the riders? I think we'll find a middle ground. I don't know. I think initially they'll get bit down, but during certain peak hours, but, you know,

the price will get bit up. The other thing, though, I'm just thinking now is that if that happens, you'll get some, Uber are like purposely waiting to put in their bid just knowing that they could wait a little bit longer, bid it up a little bit. So that could be a consideration. Or if they're in a town with like, you know, almost no demand. And then the one person is there and you're like, I think 50 bucks. And you're like counteroffer that before negotiating with somebody. Then you know like that person, you were the one that was negotiating.

Yeah. And then that's yeah. Yeah. So maybe it's not as good of an idea as I thought. Yeah. I'm thinking this out. But it would be interesting to have the drivers. bid their own rates because that's what they do with a lot of shipping like freight stuff is they'll

bid it around and you have the option to go and pick the lowest bidder oh yeah I think trucking industry is kind of similar yeah to a certain extent yeah I don't see that working because it's too it's too at a micro level I think consumers will start to hate Uber then you get into what what happens if lift drivers are undercutting the Uber drivers you know or price fiction they all get together on a agreement be like guys not that they're 20 bucks yes let's all agree to it All right, we're good. Yeah. Is the same thing going to happen to lift then since it happened to Uber?

More unlikely. Has it not happened to? Yeah, if it hasn't happened to lift. I think the industry's just gotten so big now. I think the government's just looking at and they're like, we don't want you guys as independent contractors. I think that. Why?

What's the, why would they do that? Tax reasons mainly. You know, if you're an employee, the employer has to take out taxes. It's more professional on that level versus independent contractors. They have to pay their own taxes. And I think the government's probably not getting nearly as much money. So they're thinking all these independent contractors are cheating the tax system or not paying their fair share. Yeah, I don't know about all them, but they probably feel like it's a big enough number.

And they probably don't like the example Uber setting in terms of having so many independent contractors versus employees. Because the fact is, it is much more expensive from a company standpoint to have employees versus having a bunch of... Yeah, you have to double the social security. Yes, exactly. And so I think government at the end of the day They want to make an example of these industries Before they get too enormous I say let's make an example of them now

And let's get this done I think that's at the end of the day That's the biggest thing Okay well that's a shame Yeah So would you invest in Uber Well I love Uber I sold out of stock recently for a nice profit

The main issue for Uber is going to be How fast does ride share come back You know we don't really know How that's going to shake out with this whole, you know, Rony Rona situation, you know, shut down worldwide economies. You know, Uber Eats is doing amazing right now. Like that business is doing amazing. Anything food delivery-wise, like, this is a perfect scenario for that.

Right. It's your business. It couldn't get worse because travels just shut down. You know, I think I heard something like San Francisco might shut down for three weeks or something like that. No. I've heard something about that. I'm not 100% to confirm, but yeah, I think my wife mentioned something about San Francisco might close down for three weeks. and, you know, I have no clue that's true or not once again.

Well, we'll see. I'm sure Graham's fact-checking it right now. But, you know, when you just look at that and just the lack of mobility right now, it's definitely a big risk for Uber, you know, because their right-share business is their biggest business. So does the illness really affect your investing strategy? Like, has it changed, like, a lot of your speculations and stuff? You're talking about the Rona? Yeah.

You know, not really too much. I mean, other than industries that it's fundamentally changed, for instance, one of my positions at Carnival Cruise Line, like, it's fundamentally really changed the business model for the worst. Like, that was an amazing, very profitable of the business. But because cruising's been shut down, it's just, it's in a horrible place right now. And we don't know how long that will continue. So if it's changed it fundamentally, yes.

Yeah. But you still use the same principles across the board. Correct. Essentially, those haven't changed. Yeah. No, it hasn't changed. And I try not to put too much emphasis in the whole Rona situation because this is. This is a one-than-a-hundred-year event.

Right. And so you can't make every judgment. Did you find anything about the San Francisco situation? They're not. They're not. Okay. It was a rumor, though, right? I don't know.

They were talking about their reopening plans. Oh. So there's still so much shut down, but they're going to be reopening. Okay. Because I think they said the source was TMZ, and I said, well, that does sound credible. TMZ has actually been a really credible news. It is usually, isn't it? Believe it or not, TMZ is one of the most accurate in terms of the information they protect.

Yeah, it's crazy. More than news outlets. TMZ is so precise of their information. And sometimes they get stories before everybody else. People get mad at it. They're like, you didn't even confirm this. They had so many people I feel like infiltrates.

Everybody you could possibly imagine that just be leaking information. And I'm sure they pay better than anyone else. That's why they go to TMZ. I'm just guessing. I still haven't figured out how TMZ makes all their money. Is it from the show they have on Channel 10 or whatever? I haven't watched that show in ages.

Yeah. YouTube channel. What was a career that guy has had. Seriously, he's had a multi-decade long career going from, what was it, he was an attorney. And he was, yeah, I believe he was an attorney and he would comment on cases. Yeah, and he went from that to then TMZ. Wow. I bet you if he had waited a little, like his career blossomed a little later, I bet you he would have gone more full in on YouTube rather than create a,

channel you know i bet you he would have started a youtube channel reminds me of uh Perez Hilton remember that Perez Hilton that was back like 2004 2005 okay Hilton had a blog that he would just talk trash about celebrities on his oh but it was so big and he was known his Perez Hilton wow yeah that one I didn't know oh that's interesting I don't know fact of the day there the government loves money man he guy generates a lot of money you know what I mean it's like maybe generates a lot of money I mean, he got, I think he released a music video the other day. He got 63 million views in a day.

But you know what, in a way, he could spin that around. That's good for his career. Because for a while for the, like two months, everyone was talking about him. Well, yeah, he was just a troll. Even if you're not in the hip-hop community, like people were mentioned. He just calls out, like, everyone. So that way, when he actually released his record, like, everyone's like, what is it? What are you doing to do?

And what, he did he do something with Nikki Menon? Yeah, I didn't watch it. I mean, I'm not a fan of the music, but like, I don't know, maybe behind. And it only is a really, really, really smart business. No way. No way. People put on personas all the time. I saw the most absurd news article when he was in jail.

And it was from like his lawyer. And it was like, Takashi 69 is requesting to be released from prison because he's scared he'll get coronavirus. And that was like, that was like an argument that he was using. He's like, man, I can't get coronavirus. Like I got to get out of here. And like that was a legit article. It was like posted multiple times on many different. like sites. He was scared of it.

A lot of these people I really believe they're so smart behind scenes and it's just it's a big act. Well they understand I cannot accept that. Yeah, if you understand how to get attention it's no different than the Kardashians like you know, Kardashians all of a sudden they stop you know having as much interest. Also there's some ridiculous thing you hear about

the Kardashians and then all of a sudden everybody's like viewing their profiles and watching keeping up with the Kardashians again they understand how to keep in the spotlight and I think that Takashi he figured it out. There's another YouTuber that I've met with. I'll tell you guys out of it. But you would see their videos and you'd be like they're idiots.

But separate from that, they know that that's like they got to play to that because that's their audience. And behind the scenes, they're so smart and they're making like hundreds of thousands of dollars a month in profit. And from the looks of it, you would think like these people are so stupid.

But anyway, Paris Hilton, I think, was the originator of this whole movement. Yeah. Because Paris Hilton, she's, you know, believe it or not, she's actually super smart and I actually She talks really intelligent. If you've ever, like, talked to her outside of that show they got famous off of, which was her. And I think it was, was it Lindsay Lohan?

Who was the other person in that show? I can't remember. What was it, Nicole something? Oh, yeah, yeah. Oh, I can't remember the name. It's called The Simple Life. The Simple Life. With Paris, Hilton, and Nicole Richie.

Yes. And, you know, they would act like, oh, so dumb. Like, oh, you know. Yeah, trying to draw them. Yes. And they got so much attention. And people would tune in whether they loved them or they hated them. they would tune in and they got views and then if i recall i think kim cardassian was like an intern or

something underneath paris hilton and then she understood how to kind of like gain leverage whether you know it's people just getting people talking about you get it out there then obviously the whole kardashian family built and then you got so many people you know you know we go back to the kashi 6-9 i think he just realizes there's so much you know it doesn't matter whether people are talking positive or bad about you as long as they're talking about you floy mayweather the boxer you know how do you become the richest boxer and get like $200 million a fight because everybody want to see him lose. Maybe this is a time

maybe it's going to lose. Let me buy the $100 pay-per-view and then he would win but you know it's just like people just want to see him. Is he going to play? Is he officially retired? He's officially retired but yeah but they always say that and they always come out of retirement. He was running miles other day like you know I don't know if any retired boxer

just runs miles to run miles. He might come out I wouldn't be surprised to him to fight McGregor again. Gosh. There's a hundred million up there. Yeah. Anthony. Oh, Anthony. Yeah, yeah. Big on Mayweather last few times because he's never lost. Yeah.

Every single time he keeps upping his bet. Dude. And yeah, the last game, I think he made like 60 grand on him on him betting on Mayweather because he's like, yeah, that he's never lost. There's no way. Yeah, yeah, yeah, yeah. Retirement to do one fight and then lose. Yeah.

There's no way. To an M&M. Imagine, you know, with a guy like that, 50 and O, imagine if you started betting with him just like $100, his very first fight in like the 90s and then you just, you never. Sell out every time you just put whatever you made into the next one the next one. The next one. Just like what is that if you start with a hundred dollars compounded by 50 Well, you would make so the problem is above the threshold. Yeah once he got to certain levels You'd have more money than that exists. Yeah. So the problem is like even if oh right. Yeah. It's not a one to one. Even if you bet a million on them in some of those fights you might only profit a hundred K because they put the odds you know so far against the other guy. I bet you that's more than like our GDP. Yeah. More than our GDP.

You would be America at that point. So you're saying massively in debt. Yeah, let's see. So I'm only 30 into it and we're writing a trillion dollars. Yeah. We're already in a trillion dollars. We're not even 50 into it. So, anyway, 31, 24.

Yeah, so 1.159 with 17 zeros in the background. You own the world. Yeah, if you doubled a hundred dollars, that would be like a quintillion dollars. Oh, gosh, that's a crazy number. Well, fun fact of the day. Yeah, they would just be on honestly the 15th time he's won. There wouldn't be a good thing. Yeah, yeah, yeah.

Oh, my goodness. Like one bet would bankrupt the entire time. It's all or nothing. It's a hail merry for them. Yeah, the casino would literally have to shut down. I just make no one bet. I don't even think as much money in circulation

for your back to No Joe Powell would have to fringe excess money Just to give you Oh gosh that's funny Oh my gosh That's funny

Yeah So we'll see If he plays again That's a sign Yeah Gotta go heavy And then he loses That's the one time

He loses Exactly We bet on him We're like Which would be a good time For him to say Like listen It's just age

Like Yeah I wasn't in my prime anymore. I think he would rather go out undefeated. Are you down to put a month YouTube salary down on him if he ever fights again? No.

I would, uh... Would you do two weeks, half a month? It could make interesting content, I will say that. But that's not the image that I want. That is true. Realistically, I would probably, I'd feel comfortable with 20 grand. What are the ratios now? What's the payout? Well, it would probably depend on who he'd fight, but I would say he would be at least a 10 to 1

favorite. So... 10 to 1? Yeah. So $100, you bet you win $10, I would say. You just want to bet at the underdog, but even then it's just like... Yeah, then they still lose and it's like, oh gosh. Yeah, I'd say I bet 20. I bet, but even then, it's like, if I... Yeah, you're really going to do that for $2,000?

But it would really, but it would be... It would be the one time he loses. Yeah. Because I bet on it. So I don't want to jinx everybody else because I'll bet on it. Oh, goodness. Oh, man. Fun in Vegas.

Yeah. So what is it like? in Vegas. Living in Vegas, man, it's amazing. I love it. You know, I've lived three places in my life, Arizona, is where I grew up, Phoenix, Arizona. Then we moved out to Charlotte, North Carolina for a few years. And Charlotte was fine. It was just, I didn't really like the East Coast. And then, yeah, I lived in Vegas since 2015 and love it, man, absolutely love it. So be closer to the West Coast again and taxes. And I just kind of like the vibe of Vegas, you know, being 24-7 and things like that. And also just kind of, I feel like there's an entrepreneur.

entrepreneurial vibe out there also. But taxes are a big reason. It's really the only place you can be on this part of like the West Coast where you can still have no taxes. Because I think it's, I think it's Seattle, right? Also, is it Seattle that also has

no taxes? I know there's like Yeah. The Florida, Texas. No state income Texas. And yeah. So I was just like looked at the options out there and I was like oh, I want to be close to the West Coast again. Vegas. That's the play. You know, Nevada. So, yeah, I love it.

I love it. It is great. And then it's fun, you know, when people come out, you know, friends or family. Everybody wants to go to the strip, of course. You gamble? Not really unless I'm with Graham. That's the only person I will do it with. I have to come with us to Vegas. I love it. It's just so much fun. It is. It's always a good time.

What do you guys play? You play Blackjack, right? I like Blackjack, Rock Rock, Ron, Craps. Yeah. Crap's, I think, is the most fun. Because you get everybody around the table. Yeah, you know, throw the dice. I'd love to see, I'd love to see you guys play crabs. And Graham's girlfriend cannot be named. Graham's girlfriend always goes on a hot streak.

Oh, man. She went on a roll of a lifetime. When she gets the table, you see everyone just like taking out their hundreds throwing them on the table. Somebody gave her money last time. Yeah. Yeah. My buddy Anthony just takes like wads of like $10,000. Are you kidding me?

He's an animal. That guy's crazy, man. It's a blast to watch. but yeah but they see her come up to the table and she has no clue what she's doing and she's like do and oh people love it so there's a superstition when someone comes to the table a woman who doesn't know what she's doing you bet heavy because she's just going to keep rolling the winning numbers so anytime like like someone like that comes the table you'll see all these guys just like you know does she know how to win like how the game works and that's i think the good thing behind it is

because she doesn't know like if she knows don't roll a seven guess what she's going to roll a seven Right. She's just like, what do I do? I'm just, just, just roll it and hit the back of the thing. Okay. And just that, it's like, it's like a hard six, they'll call it, because it'll be two threes. And everyone's like, okay, okay, hard six, hard six, here's thing, and then she'll roll it again. It's a hard six, and people lose their minds.

Because she just rolled the same thing again, and everyone had their money on that. They didn't make a lot of money. Or she had this roll for like 10 minutes. Yeah, at Encore, right? Yeah. Something like that, where people were making thousands of dollars on this. And then some dude afterwards, can I forget the much like $50. Yeah, something like that.

Yeah, because the guy made so much money from her role. He's like, hey, you know, thank you. He gave her money? Yeah. The most embarrassing thing about that all is, I lost money. I was the only person at this table that was, like, loaded with people. Everybody's making so much money. Graham, like, 4x or 5X is money in a matter of, like, 30 minutes.

I lost money. I'm like, it was incredible because I was betting on a field. Everybody else was just playing, like, normal pass line and stuff, and maybe, like, backing it. I'm playing field. I was the only, like, and it was the only, like, and it was. all like the dealers and whatnot, they're looking at me, or they're like, oh, you need to be colored up. And then they're like, no, he can't be colored up. He lost.

Like, they're all like running a joke. I'm like, oh my gosh. How could I be the only person that lost at this table? So that's another thing is that after a really good role that's gone on for like five or ten minutes, you do what's called coloring up, which just means you take all of your chips and you get the highest denomination chips. So you can take all your $25 chips and $100 chips and you can trade them in for like $1,000 chips or whatever. So when you go on a big roll like that, the chip. Chances of that happening again, people are like, listen, I already did so well, I'm just going to leave.

Yeah. So that's what I do. So anytime you get a roll like that, you're done. Yep. Usually that's a signal if you're done for the night, you go back the next day. But yeah, every single time I go with Jeremy, you lose. I know. Every single time. I'm like, how is this one of a single game?

There's too much to lose here, Jeremy. Trust me, this is not a winning game. You're not allowed to win. It's why you don't trade. Yeah, exactly. It's all just gambling. Yeah, exactly. I'm just like, no, this is not for me.

What about Graham? Does he win or lose? He usually wins. I mean, we've been out. I don't know how many times. It's quite a few, and I don't know if I've ever seen him lose. I don't know. I feel like I lose 30% of the time. I win 70% of the time.

I don't know if I've legit ever seen you lose. Yeah. I'll be honest. Maybe it's happened. I will remember it. Kevin is fun to play with. Meet Kevin. Dude, Kevin's crazy.

Yeah, yeah, because he'll just keep. If he'll double down. He just goes right back, gets more money, doubles down. Yeah. Is that a strategy? He's one of those guys? Yeah. Like at the roulette table,

you just... But he'll just keep doing that. So eventually, he'll win. Yeah. If you bet 20, you'll lose it. You bet 40, you'll lose it. You bet 80. You'll lose it.

You bet 160. He'll just keep it. Eventually, chances are, he'll hit one of those, make all this money back. And then he's like, okay, now I can start over again. I've seen Kevin, though,

go on roulette, one color. It wins. He puts, you know, the initial money plus the profit on it again. It wins again. He does it again. And then finally, like, he'll end up losing eventually.

But it's like, dude the numbers are getting big now you're sure i don't want to just take a little profit you know but yeah he's fun he's fun to play with because he's chatting up everybody you know he's still he's really the one yeah yeah yeah does he wears fedora no does he so what's a does he wear that actually like he's worn it out a few times it's it's cool it's stylish yeah i don't know do you take it from my white hat or what do you take the idea from there i haven't seen it because you know i usually wear that white hat oh i saw i said yeah Okay.

What's up with the Holy Smokas? This ain't no jokas. So the Holy Smokas, this ain't no jokas. I don't know when exactly it started. It might have been a year ago, two years ago, but it was some type of big video topic, and I got a bunch of comments right away that they loved it. And so now if there's ever like big news,

I have to lead in with the Holy Smokers to say no jokas. And most of the time I'll be like, well, guys, here today, blah, blah, blah. But, you know, if it's a big video, holy smokers, this ain't no jokers. God, that's like your cat. It's like, what's up you guys? You got the holy smoke. It's a saying, no jokes.

But that one is reserved for only the big videos. It has to be, it had something. Tesla had to hit $1,000 or something in a day. Like something crazy had to happen. But yeah, no, that's a fun one. But yeah, I come up with so many different nicknames for stocks. Like I have cruisy-dozy, fizzy get dizzy. Tesla, my Esla.

Oh, gosh. Yeah, there's a lot of little nicknames. You're turning into a mini Jim Kramer. Oh, gosh, Jim. You need one of those little symbols. Or he's got like the cowbell. Yeah. You need something like that.

When a stock hits a thousand, you hit the cowbell a few times. When you're up 10% you hit something. Dude, the amount of comments I've seen over the past couple years where it's like CMBC should hire you when Jim Kramer retires? No, I don't know. I don't think so. What if CNBC says like here's $2 million a year and you just got to make, you know, you got two videos a day, buy busy?

Man, I don't know. You know what's amazing is you have a relationship with CNBC and somehow I don't. I'm the stock guy and yet we don't communicate at all. I've never talked to CNBC. They never talked to me. You know, they might not like me. I might not like that. But I feel like the reason why is because you haven't shared really anything personal. It's just a lot of just okay. Yeah. I think if you start showing your family a little bit more of a personal side, it builds a connection. Maybe that could. Yeah, I don't know. That could. But yeah, I don't know if I could ever do that, man. Would you, would you do a millennial money video? A millennial money video?

Wow. You would be a fun millennial. shoot. I'd be tempted to I mean, I've seen what grandma's done there. It'd be hard to turn down. I'd be honest. Your numbers would be. It would be hard to turn down. I'll be honest. Would you want to? Maybe. I could reach out to. If you tell me a yes, I'll reach out to them because I know it's going to be a big video. I think I would have to. I'd be honest. I think I would. You would do it. I think I would do it. I think I would do it. Yeah, I think I have to do it. I think I'd have to do it. I think it's one of those offers that you just can't turn down. Okay.

I think I would have to do it. So just so you know, they would, they, like, they went through everything on me. Oh, really? They were more particular than an underwriter getting a loan, believe it or not. What? Yeah. Because I gave them a list of, like, you're the things,

and I told them, like, what my payments are. And they're, like, even my Tesla payment. They're like, we want to see a statement showing that, like, how much your payment actually is and, like, what, you know, what you owe on it. I would 100% love to do this because I literally don't, don't even know how much is money I spend in month. I have no clue.

I was going to ask if we could do some sort of mild budget breakdown for you. They had, they had, they. It's got a statement too. Yeah. I mean, I, I don't know what we spend. It could be, my wife probably knows it's probably 20,000, 30,000 in monthly expenses. I have no clue. Wait, and what kind of expenses?

Why? Everything. Well, you, I don't know. Maybe it's not that much. Well, business expenses. We also have business expenses. So it's like, do you subtract business expenses from monthly expenses? So I don't know, but I mean, we have the mortgage, but then we're going to have another

mortgage in Arizona coming. Then we got another mortgage in Vegas coming. How much is your mortgage in fame? That one's, uh, we just got refinancing. That one's only like 2,800 now. It's not bad. Yeah. No, that one's really affordable. But then we're going to have an Arizona mortgage coming. That will be like another 2,000 that's coming this fall. Then we're going to have the new Vegas property. You know, that's going to be, I don't know. That's really, you know, that's one's like going to be probably like 1.5. So let's say we put 20% down. So that might be like five, six thousand a month, I would assume. So we have a model X. That's a thousand a month. We have a model three. We have a model three. that's 600 a month, I think.

And then we have just a lot of other expenses, man. I like a lot of like those little expenses where it's like 100, 200, 300 here, and it just starts adding up, adding up. Wow. So some of these things I just don't get how it adds up that. Yeah. Yeah. What about food budget?

Food budget's insane. It's got to be ridiculous. So we have five people that live in my house, you know, obviously me, my wife, my two kids, and then my brother-in-law, and we spend. spent a lot because then we go out to dinners sometimes too and drop 100 200 bucks like we just went out the other night and that was i don't know what i ended up spending them maybe on like 120 yeah i love to go out and a lot of times when i go out i go to nice places so yeah you have expensive taste every place you've been like let's go here and it's like right that tone graham just prays there's

a subway across the street i'm looking at the menu and i'm not jeremy picked another one of these oh gosh no that's funny uh you're like oh jeremy i'm sorry i'm not feeling so good actually tonight. I don't know what happened, man. Yeah, I'm not going to full. Yeah, 20 minutes ago I was feeling so good. But ever since you sent that last text, my stomach hurts, man, I need some robin tossing or something. That's a lot of money to spend. Yeah, I don't know what the number is. But no, that I think I would do it. I would do it. I'll reach out and I'll see you. Okay. I'll do it. We should build a connection of some kind, you know, I feel like me being, you know, a person in the stock market investing space and CNBC always focused most on

stock market. It's like, it makes sense for us to have some sort of relationship, even if it's not a deep one. What you're going to get, though, inevitably, because I started getting a little bit of this, but, man, you make more money from YouTube than you do from real estate. I'm like, well, of course. You know, what I try to explain to people is that, like, YouTube is full time. Like, that's, like, 60 hours or 70 hours a week sometimes. Real estate is passive. Like, you just compare working 60 hours a week to something that's passive. Yeah. You'll give you, you, Jeremy, you make more money than YouTube. than stocks. Honestly, I get that a lot. I get comments like that, you know,

it's usually like a hate comment like, oh, you make so much from YouTube and it's like, you know, I make maybe 60K a month from YouTube, 50 to 60, let's say, okay? In one trading day, my accounts in total will be likely if it's a volatile day in the market, decent

volatile, not like crazy, will be up or down 50, 60K. So, whatever I make it a month from YouTube, and that's before business expenses and all sorts of things, my accounts alone will move likely that big in a day. Like somebody left a comment like that the day, and I usually don't even reply to comments, but because I was smashing the thumbs up because I did this thing.

Oh, I saw that. Yeah, yeah, for half a million subscribers. Yeah, and I smashed a thumbs up for you. I think I gave you a heart too. And yeah, somebody was like, you know, I saw it. And it was like, oh, you make so much. And I was like, dude, like, you realize my accounts that day moved more than what I make an entire month.

But yeah, it's, but it's like, it is at the end of the day, that's what we do. Like, you know, we could be focused on a lot of different businesses doing a lot of different things. This just happens to be what we do, you know, for, you know, business. So, and sometimes I even think, you know, taking in a deeper level, sometimes I think if I'm like, I could actually be making way more money if I was focused on doing something else. And maybe YouTube is actually holding me back from doing something like way bigger. I have those type of thoughts sometimes where I'm like, you just don't really know. Why?

I don't know. You know, I don't even think about what else I could be doing because I'm so focused on YouTube. all the time and what am I going to make for an interesting video and how am I going to present this and so sometimes those thoughts crossed my my head I'm like what if there's this big business opportunity that I'm not even spending any time thinking on because I'm so focused on how I'm going to get 100,000 views on this video today and so there's even that that side of me that's like you know because I'm constantly looking at a company so I'm constantly thinking about business I love talking business with with people I mean usually you know when you and I have one-on-one conversations we

always end up talking about YouTube business and things like that and it's just what I enjoy doing. And so it's like, if I didn't put in so much time to YouTube, maybe there's this other thing that I'd be a billion already or you never really know. You know, so, you know, oh well. So, but those comments are funny where it's like, well, you make such and such. It's like, and the funny thing is, you know, I don't, I feel like we're underpaid. I feel like the amount of attention and time we get compared to like some of these actresses and actors that, you know, we don't even have to speak on impact that those people make versus our impact. But you know, you look at some of these people, they make like a few million a year. And you don't even know.

You've never heard of some of these movies. Some of these people are in. And here we are, you know, educating or entertaining hundreds of thousands of people every day. And we make less than some of these, you know, C class, B class movie stars. That you, movie stars is a big turn. So, yeah. So I think it goes both ways. So it would be like you getting paid like $10,000 per video plus you get ad revenue on top of that.

Yeah. Yeah. Yeah, yeah. But I think they really leave it up to you to monetize it because here's the thing. I remember some smaller YouTubers. You know, Tanner J. Fox. Yeah, I remember Tanner J. Fox. Yeah.

Tanner J. Fox was getting like 15,000 views a day on his channel and he was making like $300,000 a month. Yeah. From what? Redirecting his audience to Amazon. Amazon EPA. And he sold a program on how to grow on Amazon API. I think he was, he was making decent money. Like legitimately he was making decent money on Amazon.

on FBA. Yeah. He was one of the first people in the entire space to really go the course route. Yeah. Made so much money doing course sales. And so here is someone who, who honestly wasn't getting a lot of views, but he was the biggest in that space.

Yeah. And just, you know, made a lot from that. And I think a lot of these guys don't get, I won't mention it. But another person was getting just on a regular base like 30, 40, 50,000 views. And he was making like $500,000 a month doing that. But it was all in the business. back end. It wasn't from ad revenue.

That's true. So I think, you know, ad revenue is a little component there, but depending on how you monetize and grow on the back end, you can make so much. Right, right. But it just depends on what you're doing behind the scenes. That's true versus a show or TV, you know, you don't control the audience or anything or try to sell. But at the same time, you say, well, you can get followers, like people like, oh, I like that

show so that I want to watch them on future shows or I want to follow them on Instagram or things like that. And then you can direct them there. But then you're relying on someone. else's brand deal for the most part it's like you know then you know product will come and say like hey how much for this and you could charge on that yeah but youtube is one of those things I think it's really up to you do you want to make a lot of money doing that yeah no no doubt yeah you know what's interesting is one of the first people I ever saw that really like was on tv and then they went

huge on youtube and unfortunately this guy's made a lot of bad choices you know over the past few years uh Jake paul you know he was on that Disney show and then he's you know does his YouTube channel and simultaneously he's doing the Disney channel thing and then he's on YouTube and he was growing his audience huge that was like 2000 I want to say 16 back then or 17 before you know things went obviously way downhill for that whole family but I mean at that time dude it was like that was transformative because no one had done that really I don't know of anybody that was on a show

and then they built a huge YouTube audience at the same time and who's from YouTube and then the YouTube audience got him a place on the show I think is that no Because he had, he was on Vine. Vine. I think you could make an argument that maybe Vine helped him, but he was on the Disney show, and then he started going YouTube when Vine got shut down because all those Viner's viner's came over, and they all went crazy at that time.

I don't know if you remember that time. Like there was him and his brother, and then there's just so many Viner's like Lily Ponds and a bunch came over. And they had these huge audiences. And at the time, the algorithm would basically, if you were hitting some crazy, like, view to sub counts, you would get pushed more and more at that time. And it just grew exponentially. Dude.

And yeah, those people were getting... I'm talking about TikTok now. Oh, TikTok. That's the next way? Charlie DeMilio. Did someone still... DeMelio? I don't know.

Whatever her thing is. Okay. Sometimes I'll look at the trending page. I'll see some of that's top ten trending. And I click on it. I'm like, I've never heard of this person before. Yeah. And then I'm like, wow, they have like two million subscribers.

How many videos do they have? They have like four videos. I'm like, wait, wait, wait, what? All the videos have millions of views. Where did this? Dude, they have like 50 million followers on TikTok. on TikTok. And they can just redirect, you know,

like a small percent of their audience. They're on TikTok. They make a YouTube channel. They get a million subscribers on YouTube, like over a night. And their videos get so many views. And then it puts it on trending because it's like just so over the top.

We got to talk about one thing. You made trending last month. Did you ever think, and I think multiple times, did you ever think you would be on the trending page of YouTube? Oh, never. That is like,

this is where I talk about like inspiration and like expanding my mind like for the whole space. Dude, when I saw that, I'm just like, that's crazy. You know what I mean? It's amazing. And then I think after that, I think, I want to say Andre, I think got on the trending. And I think Kevin got number one. Didn't he get number one?

Kevin was number one on trending for like almost 48 hours. Whoa. Yeah, that was one of the days. I think you got like 12, 15,000 you subscribers in a day. Yeah. Clear value. Trending. Oh, you what?

Okay. Clear value was maybe one of the first in finance to get a, on the trending page. Oh, I didn't even know about that. Yeah, Clear Value, and then meet Kevin, Andre Me.

Wow. Oh, Jeff Rose was another one who was on trending for one of his students. Yeah. It's, yeah, I feel like there's a bit of a,

like you, to get on the trending page, you have to hit so many different things. Like, not only do you have to have a really popular topic, but it has to appeal

to anybody with a good message to it. Oh, okay. And if you can't hit all, oh, and it's got to be clickable with a good title. Wow.

So it's like, Like you've got to hit so many different things to be untrending. And you got to do that within the first 48 hours of video posting. So if you can't hit all of those, it's not going to happen. Jeez. Yeah. That's wild, man. But no, it was just like that was an amazing moment for the space, honestly.

Like trending, you know, because literally like when we kind of got rolling with this, like it was just, you know, there was no such thing as like the finance space on YouTube. It was just non-existent. And like to see where it's at now where videos are getting on trending, dude, that's just, it's amazing. it's becoming more mainstream. Especially, I think... It needs to be. Initially, I thought it was really worried with everything going on and the whole, like,

the illness and everything. I'm like, this is it. I really felt like, could this be the end? Because I noticed all my videos on YouTube stopped getting pushed as soon as that happened. And there was no longevity. And I'm like, all these videos that I spent so long on, they're just not getting pushed anymore. And it seemed like YouTube was just favoring, like, the newest content and one of you post every day. I just can't.

I just can't, I can't do it. So I was like, you know, is this it? But I'm going to try to roll with it. but it turned out to be like this blessing in disguise. Yes, absolutely. Things shifted around. It gave me so much more to talk about and so much more just direction. Yeah.

You can go with it. No, absolutely. But yeah, I mean, it's amazing. And how many channels are on the come up right now that are in that space where they're getting a thousand or 10,000 views of video right now? It's amazing. Like just in my niche, which, you know, I've really focused my channel last year or two, really just around stock market investing now.

It's amazing to see the massive quantity of creators coming up. and actually, you know, fulfilling a dream of potentially like making YouTube a career or, you know, just being on social media in general or, you know, making a part-time income, whatever it is. Yeah. Like, it's amazing. You know, it's phenomenal. See, and it's stuff that is really important. Like, people should care about their money. Yeah. People should care about like, because it's going to, like, the amount of money you have can dictate so much. It's going to, you know, dictate where you live, what schools your kids go to, where, you know, what type of food you eat, you know, where you eat. It's where you vacation, if you vacation. Money's going to dictate all that. If you can give money to charity, everything.

You know, so, you know, I don't want to say our space is the most important one on YouTube, but it's hard for me not to say the financial space in general is not the most important on YouTube. I'm just worried it's, uh, I still want it to be a fad because I think a lot of these things come with their curves. Everyone's interested in and it kind of dies down and goes, you know, something else that people just put their focus. Now it just happens to be anything money. You're the biggest in the space. you know you're getting anywhere from 300 to 600k let's say a video on an average video some are getting you know all the way up to a million but you know and that's really large but it's still you look at some of these other spaces the makeup industry the makeup side you know you look at you know you're going to say mr beast he's like maybe the king of youtube right getting 10 million plus every video but those mr beast videos appeal to everybody yeah like no matter a younger audience i'm sure even even if you're if you're if you're five years old or 50, you'd still watch Mr. Bees' videos.

It's family friendly, anyone can watch it, whether you're so smart or you're just, you know, nothing about anything. It's just you could zone out and watch this video. With money, it's like you have to be interested in personal finance. Yeah. You have to, you know, at least know some level of background, at least a little bit. Mr. Beast is just everybody. So it makes sense why his views are so high. Yeah, yeah.

It's hard to take finance and make it like anybody can want, unless it's like some major advantage of just happen. but I'm having more and more faith that we're gonna get to a place where you're getting a million reviews of video and that's gonna be you know I already feel like it's been a game changer but you know that's when we're talking about a real massive space

because you look at what happened to gaming you know you know there's you know obviously the few people that are at the top of gaming they get millions of views that's even like a niche market you know how many people I play video games sometimes

I don't really watch video game you know videos and there's only a certain segment of people that are really into gaming like that. So, you know, all these markets aren't like that massive, you know, makeup and beauty. Yeah, there's a lot of people that wear makeup and are into beauty, but how many are really into it that they watch, you know, you know, this creator over here gets five million views

a video. So I feel like all these markets for the most part, or a lot of these are still kind of niche down at the end of the day. Yeah. You know, a lot of people wear makeup and they don't care to watch a makeup video. They just don't, you know. But yet, they're pulling in millions of views. Well, then you watch them for the personality.

That could be, yeah. Like, you day trading, let's just say, and just making comments like PewDie Pie. Yeah. Like, imagine it happened, like, your little face up in the upper right, you're trading stocks back and forth and you're making comments. Yeah. Yeah. Imagine that. That might be the next wave.

Wait to see that. Yeah. Look at the arms. What's that? Oh. We're all like, no, I did not do this. Oh, really? No.

I don't know. It could be some. I think it's just going on. Did you get arrested before the podcast, sir? But yeah, I think that would be entertaining for someone to do that. Just live day trade and make comments all that. Yeah. Twitch stream that on YouTube.

That'd be super good. And I think YouTube would probably push that content a lot. I think they see the value in people like having good financial education. Yes, but I think for day trading and stuff like that, they're going to start on that. I think the SEC is going to. Because people are treating it like a. it's a gambling game. I'm really treating it like a gambling game.

I think now it's so unregulated that like, especially in some of these apps, you can go on like trade options with no experience. You just have to select like I'm an intermediate investor who wants. So, you know, there's no barrier to entry. As long as you're 18, you could legally gamble on the stock market.

Yep. No, it's, it's a little scary. I'll be honest, you know. But at the same time, hey, if people are making money, they're making money. So mainly, would you consider yourself a YouTuber a stock trader? Ah boy, I would probably still consider myself a YouTuber first, stock market investor second, just because the majority of my time still is spent around YouTube and YouTube related

activities. But it's getting closer to 50-50 now. But over time, it's going to flip and I'm going to even go further and further as far as time goes, because eventually you get so much money invested that it doesn't matter. what type of view counts you're getting, it's just will become insignificant, right? You know, where it's like even if you're making 100K from YouTube, let's just say, for instance, you've got 50 million in the market, right? It's like, was your time better spent spending an extra hour thinking about the YouTube video title and thumbnail and the content there or was your, that hour would have

been spent better research in companies? So for right now, I kind of still consider myself a little bit more like I, like if somebody say, what do you do? I would say, I'm a YouTuber. And then I would say I'm a stock market investor second. So, but I think I think over time, eventually you get to a place where, you know, yeah, I think whatever you are, it's whatever you spend the most time on. Okay. That's how I feel. And so I would, I spend the most time on YouTube. And sometimes I do think I'm like, imagine if I was spending all this time just researching companies.

And I bring that out to my private group, like the private stock group now, I have this list of DMs I get every single night. And I have to get back to these people. Like they pay to be part of the group and for me to answer questions and things. like that right and every night takes me at least an hour to two to get into that uh to get back to all those people in dms and all i think about sometimes is i'm like what if this hour or two was spent looking into other companies rather than getting back to all these people you're going to try that and just shut down the membership for a month yeah oh you can't really do that you can't just like shut it down and then be like oh you know these people paid you know for a year you know so i i'm committed

to it and i have to be committed to it you know I'm a man in my word, but I do, those thoughts still go through my head. I'm like, what if I, what if I was reading an annual report right now or listening a conference call? And sometimes I do listen to a conference call while I'm responding to DMs and stuff. But it's everything's like, there's a perfect name for that in the space, like a time, time versus money aspect or something like that. Yeah.

So, but yeah, a YouTuber I would still consider myself as first. It was funny. I asked Graham, like what he says he does when people ask him, you know, how does he make a living? and he says he would never say YouTuber. He says he calls himself a real estate guy. I'm in real estate. So if someone were to come up to you and ask you like, oh, what do you do at the casinos or something?

I always say I'm a YouTuber. Yeah, like if my neighbors, like when I moved to a new neighborhood, yeah. And the one part I don't like about that is then you have to explain because you're like, you can make money from that? Like how do you make money? And then you get into this whole thing. That's what I think I regret about telling people on a YouTube. 555. I'm not embarrassed of it at all. Like I'm proud of what we built on YouTube and what we're

continuing to build. But at the end of the day, that's the only thing that annoys me is like, now I've got to get into the process. Like, well, there's ads that are shown before the videos and after the videos are over and you make money off those ads. And it's only a very small amount, but when it's a lot of people watching, the amounts are bigger, you know, I have to get into that whole thing. But you get in the same real estate. What are you doing real estate? I'm an agent. Oh, how's the market? Yeah. I mean, so what it is. That's good. Oh, okay. My, my, my, my, my, my, my, buddy's house over here you know this is like yeah do you dabble in real estate at all do you have rental

properties and stuff uh not rental properties but i'm up to through well we got two houses we're building right now plus a house we own so i'm putting more and more money into real estate so you're building houses yeah yeah yeah uh well one's just a second home one's going to be the main home and then the current home we're living in once the other Vegas home is ready which is still not going to be for like a year or so. I'm trying to figure out if I want to rent it. I could maybe get like $4,000 a month, I think, for it. Or I'm trying to figure out if I want to just turn it into like an office where I can have, you know, either employees meet at, independent contractors and just have like a meeting spot because I don't really have a formal office right now. I need some right office this year.

And part of me is thinking like it might be a good idea to go and invest in an actual office space. Oh yeah. But I want it nearby. I mean, that's the only thing is I don't, I like not having a commute. Yeah, and just like walking into a room. Part of me is worried that, like, you know, people like, they think we're filming in the dining room. Yeah. At what point do you become too, like, oh, commercialized? Commercialized. And something like that, you know, it might be too fancy.

Maybe people like, let me know down below in the comments. My opinion on that is if you're coming up with the content, you're coming up with the strategy for the content, the videos and all sorts of things. I don't think it really matters that much where you're recording it, whether it's against a plain wall or it's a set or things like that. I think where some people get into trouble is when they have, they outsource all their content. The ideas for the content, the titles, the thumbnails, you know, like a Gary Vaynerchuk, right? Obviously, like a legend on social media in the business space, but he doesn't, he's not coming up with any of that. You know, he has a team doing that. And so it loses some of its authenticity.

Yeah. And it just waters down the content over time and it just doesn't get the type of views. It could potentially if maybe he was doing that personally and actually coming up with that. So I think you lose I think you might lose that I don't think it really has much to do with the backdrops or sets or anything like that I think at the end of the day it's are you coming up with the videos

But it's also the overheads it's the mental just toll of like how much does this cost to me every day Where can I be using that instead And just having no overhead Just no expense it's just And if you post a video it's 90% profit But then you can also say well what if that property

appreciates to $4 million over the next 10 years you know that's true so then you can say well I can keep that money in cash there are worse things you can put your assets into that's that's that's well that's justified this property yeah was that you know long term it's going to appreciate it I think it's a good store of cash you put your cash in here it's safe yep yeah I mean you could write that property off and you know I don't know you know let's say you get it for 1.8 uh and appreciates to let's say you say 2.5 over the next 10 years you know which would not be good appreciation for L.A. on historical standpoint I think LA appreciates actually probably more than that.

I'm guessing probably 4 to 5%. I'm getting guess over the next 20 years. Yeah. My guess. And so, yeah, I mean, cash, you know, gets devalued every day as we know. Yeah. The printer goes, and yeah, I mean, it might make a lot more financial sense, especially when you start thinking about the right off side.

It's a big decision. It's a nice place to know. So did your channel blow up, like instantly at a specific period of time? I know it wasn't in the beginning. Yeah. But or was it like a more gradual increase in views? No, for me it's always been gradual. I've never had a like, whoa, he blew up time.

Like he made one change. Like Graham went from two to three and then there was like. Yeah. Like Graham, you know, he really had this time period, which I knew was going to happen. It was like 2018 all the way into 19. Like really the back half of 18 moving into 19. I was just watching him and like he's about to go crazy and sure enough it happened. I've never had that period.

I've just been, you know, steady growth. You know, I've always, the most important I kind of thing I look at is what's average views I'm pulling in per video. And if you just look over time, it's just kind of been like a steady stream up. It's never like I went all of a sudden from like 5,000 views of video and oh, I'm getting 100,000 now. No, it's just been steady. It was like, you know, I remember when I started pulling in like 10K consistently. And then it was like 20K. Then it was kind of like 40K.

Then it was like 60K. Now I'm kind of at a stage where I'm looking for like 100K a video. And so, yeah, I've never had a like, whoa, he blew. up moment, it's just always been steady growth. And that's one of the things I've always kind of strive for because I've always wanted people that really like stick with me, believe in my investment philosophies, respect my investment philosophies, and are willing to watch my channel grow and watch me grow and watch my investments grow. And hopefully, you know, people that watch my channel make a lot of money. As long as I'm, as long as I'm helping people make money,

people don't forget about that. They keep coming back to you. And I think that's why I've just been able to consistently grow year after year after year is at the end of the day most of the people watching my channel I think are making money as long as they're sticking in my investment philosophies and focusing on things I look at and so therefore more and more people are like okay I watched him last year and I got this gain I'm going to watch them this year and next year do you get people angry if they lose money not really what happened in March March and April when just the markets tanked you did you ever get anybody being like listen man I listened to your investment I invest in my 50,000 it's all the money I have

It's down at 30, you know, 20. What's up, man? Not really because something I always try to explain to people is the volatility of the market. Like you have to be ready for this. Like this is not just a one-way game. You know, and I think that's where, you know, I could probably get a lot more sales from my private group if I was to like just talked about the ups. But something I love to talk about is the downs.

Like mistakes I made in the market, like you have to be ready to like go down on money. If the market gets really bad for a month or a few months or a year, you just have to be ready for that. So I never really get that type of negativity, I think, because I explain it well. I explain, you know, the risks in stocks, you know, I always put it as worst case scenario. I'm like, worst case scenario, you put money in the stock, it goes to zero. Like I even bring that out in video sometimes and just kind of putting in people's mind like, dude, you can lose everything, you know? And it's like that for any investment.

And I think because I bring it around that way, it's another reason why the community is just at a higher, like, intelligence level than maybe some of these other you know channels that are out there because my people understand like the risk and the reward and that's something I really try to bring out and that's why I never really am scared to talk about my failures because by talking about my failures it like makes people realize oh there's risk in here so do you think you have to be intelligent to be a stock trader or investor investor I think you have to have a certain level of intelligence in terms of really emotional intelligence I don't think it's necessarily like you know how to do calculus this level, blah, blah, blah.

I think it's more just like having that emotional control to, you know, grandma, we were talking about a little earlier, you know, I think in this podcast where it's just like knowing not to get too emotional. And try to make emotional disease. Yeah. If you would objectively not try to get in and out because you feel an emotion today about something and really just going off the fundamentals. The emotions in being able to stay disciplined is the most important thing.

It really is. It's the most important thing when it comes to invest. You know, I could teach as somebody all the strategies in the world and, you know, do this, look for this in a stock. If they're not disciplined, they're going to go off the rails and they're going to do some crazy stuff, which, you know, some people get into. And some people make short-term money up there, you know, the Wall Street bets community sometimes. Most of the time it's bad. So, yeah. Do you ever buy stocks and then sell like the next day?

Yeah, in terms of short-term, very rarely because I look into these companies fully understand the fundamentals. And usually if I'm buying, I'm buying for multi-years out. I will sometimes sell earlier. Like usually I'm looking three to five years out in a company. I could potentially sell before three to five years, but it's because usually like the fundamentals changed with the business model. So it's not the same company I bought into like, you know, just different decisions were made.

And it's like, whoa, this is not the same. Or if it went up too fast. There's just so much money. Yeah. Yeah. And sometimes that happens with stocks. You know, they just go up way more than you ever expected, way too fast. The valuation maybe doesn't make sense.

And it's like, just like a profit. So, you know, that's kind of the way I do. What were your biggest wins and biggest losses in the market? Biggest wins and biggest losses, oh boy. So my biggest win currently is Tesla. That's my biggest win currently. Like some of my... Not ever.

No, if I sold it today, yeah. Because it's well over a six-figure profit. And I don't think I've ever made six-figure profit from stock ever. I don't recall. I made five figures many times and many stocks. Like Cabela's was a great investment of mine back in the day. Trinity Industries. Seros Logic's been a good investment in mind multiple times throughout the market.

I'm trying to think of some others. There's been, you know, a lot of successes. The worst one was GoPro. That was my worst talk ever. You know, and that was well documented on the channel. That was a fun one to go through. You know, that one's just like everything didn't work out. Like they failed everything.

And then my worst one currently, which is actually, I think my one of my only red stocks is CCL. And that one's massively negative right now. I think we're down like. What price you buy in a 40s? Like 41. Yeah, we're down like 50%. If not a little over 50% on that one.

That one's just gone so bad. But have you thought about doubling down now and just being like, let's invest more? I thought about it. And I thought about it even lower. But at the end of the day, I just don't want to risk more money in that one. Yeah. Yeah, I'm just kind of like. More confident in other stocks.

Yeah, exactly. I'm like, I look at some of these other stocks. I'm like, there's more upside in this stock, that stock. Why do I want to buy more CCL? So, but I try not to judge myself too hard on CCL. I judge myself a lot more hard on what happened with GoPro, and that was more like a 2016-17 investment rather than CCL. Because CCL got caught into a once in a hundred year like Rony-Rona situation. And that's just like, you know, what are you going to do?

Like the cruise industry is always like a very profitable industry. Even if there's a normal recession, like yeah, business is down, but it's not down like you're where you're shut down. So, but yeah, that's my worst one ever. So for you, then wouldn't this be a really good time to just throw some money in them? Well, the problem is we don't know how this is going to recover because we've never been through it. So there's a lot of people very confident that we're going to get back really strong, really fast. I don't know. And I don't know if we're going to have a second wave.

And what happens if we do have a second wave and the economy actually has to shut down again? If the economy shuts down again, I mean, the drop is going to be worse than I think the first time. But I just can't imagine. I think at that level, they would just say, well, we don't have the choice. Like, we're going to have to get through this. Yeah. And now we're a little bit more prepared. We have more information at our disposal.

You know, handle it. I just can't imagine you shutting it down again. Let's hope not. I really can't imagine. Yeah, let's hope not. But the other thing is a consumer psyche, you know, if, you know, it takes off again. You have a certain segment of customers who are already not engaging with businesses right now because they're scared for health reasons.

They don't want to go out, right? And that's you got this segment over here. You have the segment that's in the middle. They're like, oh, I'll go out, but I won't do as much. You have the segment of customers who don't care. If we have the Rona take off again really bad, then that segment's still going to definitely not come out. This segment is in the middle probably going to move more right to not come out as well, which will make for a much longer recession. And then this segment's probably going to move to the middle.

And that's where I get scared, not just in terms of, oh, is the government going to shut us down again? But what's the consumer psyche around going out, going to my city, Vegas, going to the beaches, going to the restaurants? if we have it take back off big time again and the numbers balloon and the hospitals get filled. That, you know, that remains to be seen. And so I think it's, you know, I think it's something you have to think through right now. And I think it's why you still have to keep some cash around, even though, you know, assets are continued to increase right now. I think real estate prices were up the last couple months, which is like, who, what? What? How?

Low demand. It's all it is. Yeah. And you look at the stock market last two and like up huge and it's like, what, you know? Like, that's crazy. but at the end of the day I think with that risk you have to keep you should always keep a level of cash

but I think you still have to right now because there's that risk man if this takes back off in the fall I mean the numbers are still growing right now and then what happens if they really start you know growing exponentially I don't know you know

we can be optimistic though let's hope for the best I'm optimistic yeah and Graham your biggest win was on Tesla too right overall yeah Tesla Yeah, 260 was my average, 258, 260 and 2. Was your average buy?

Average price? Yeah. So I think it's interesting. I think we should discuss this. Graham's been investing more and more stocks lately. I've been investing more and more in real estate. The whole world is screw up right now. Like what is going on?

But talk to us for a moment about you in investing. Like what's inspired you to put more and more money into stocks? I think it's just full first of all. I've known for a long time I need to be more diversified. Everything went into real estate and I started thinking like at this point I could take less risk and just I need to diversify and do some safer investments. Then when everything dropped so dramatically, I'm like, well, I have all this cash that I've been sitting waiting to buy like a good real estate deal that's sitting there. I may as well start buying in. So I made the mistake of like I didn't want to put all my money in at once.

Yeah. So I started buying in bit by bit. But as I started buying in, prices kept going up. And so I kept buying in, kept buying in and kept buying in and kept buying in and price. has kept, you know, continuing to go up. But in that I made some good investments, and I made some that, you know, I bought a little bit too high. Denny's was one of them.

Okay. That just bought too high. A lot of the rest, you know, cheesecake factory, I got in pretty low. A cheesecake factory. So that was, I think, I'm like, take or simple cake, right? Yeah, cake. I think I'm like 25, 30% on cheese, and on cake. Wow.

So there's some of them I'm up a lot. Boeing was another one. 128 is when I started on Boeing. And I think I spent 30 grand or 40 grand. Boeing at 128. Boeing is one of the few stocks. I feel like, you know, they kind of got caught up too much in the whole storm

because Boeing had issues before. Oh, yeah. They already had issues, 737 max. But then on top of that, you had this. And airplane orders are going to get pushed out for probably the next few years. But at the end of the day, there's two companies in the world,

in the world that really dominate the whole industry. It's them and it's them an Airbus. And then also they're military, so the government would never allow them to go under. No. So when I looked at that one, I was like, this is dumb that I don't buy Boeing stock, especially when I saw it under 100 because I'm like, they're not going under. They're not going under.

But yeah, that was a great pickup by you. Yeah. So then when it dropped below the 170 mark, I think I bought more on like 175. Okay. So that's been a good one for me. But I just see like right now, I'm looking at how much is my time worth and we're going to get the best return for my time. Okay. And I feel like my time is not best spent right now going and trying to find a real estate deal here.

where I can make, you know, it's going to take me a few months to find a good deal. Yeah. Close on it. Renovate it. My time is better spent just earning less money in my investments, but doing something safer. Yeah. So I feel like there's more potential now in hard hit stocks and just index fund investing for my time. Yes.

I spent real estate investing right now. Yeah, right now. Yep. No, that makes 100%. So that's why. But a lot of these companies, too, honestly, I just, like Cheesecake Factory is a perfect example, where the stock price went down. like 80% or something crazy like that.

And I would go to the cheesecake factory. Every single time I'd go there, there's a line out the door. Oh, wow. Yeah. If I'm, I can't be the only one going and just like ordering from the cheesecake factory. I'm being really excited for them to open.

There's a line. And I'm like, this is going to come back big. So that's why that was Cheesecake Factory. American Express was another company I did really well. Yeah. That's a bit. Up another, I think 25 or 30% American Express.

Yeah, that's not really a dangerous talk at all. To Market Express. American Express, those customers are not going to be as affected by this. American Express is continuing to grow. I like their credit cards a lot. Great. JP Morgan. Oh, yeah.

It was another company. The banks are almost governed back now at this point in time. JP Morgan Bank of America. So a lot of these banks, I like JP Morgan. I think they got a good bank. They got a good credit card. Yeah. But I throw money in them.

So a lot of these companies I did just buy because I felt like I used them myself. I like them. I wish Wells Fargo would. I lost my. money in Wells Fargo. So I put money in Wells Fargo thinking like how much worse going to get there. I think a horribly run company. But they're trying to change their image. They're trying to turn things around. I'm like, it can't get much worse. I'm here, right? Well, it's it. It went down. Wells Fargo is my biggest loss to date, I think. Either that or GE. Like, they're pretty neck and neck.

Okay. But no, I got a really important question asked. So when Graham Steffen goes to Cheesecake Factory, do you buy a piece of cheesecake? Because you know the margins they're making on that are insane. We got a coupon. There was a Black Friday deal where if you buy like a $25 gift card, you get two free cheesecakes. Oh, well played. So I did that because I'm like, then it's like for 25 bucks. Yeah, yeah. The cheese is for $8 each.

So it's really like it's worth it. So I did that. Yeah, that's got to be the main place they make money, man. That slice of cheesecake can't cost more than $8. Yeah, it's $8. Yeah, for a slice of cheesecake. It's really good cheesecake. But honestly, I'd like cheesecake factory because their portions are so big for, for like,

$15 you eat this burger. This was like enormous with a side of like, you know, a salad and fries. You split that in half. It's really $7.50 a meal. But look at cheesecake factory, man. It's trading at $24 a share. Was 50. And look at just, it was very steady.

Yep. In the 40s. Almost 6% dividend. And now it's trading at half. But I look at this just as someone who's not that into stocks. And I see like, okay, it was a $50 stock. And I think it's going to, people are going to go back to the cheesecake factory. But even if they don't, even if fewer people go, you know, 70.

percent of the people end up going back. If it's a 24, it should be a $35 stock, right? So how good is that logic? I'm like, it's trading a 25. Why can't I just go and it should be worth 35 based on the previous years of this? As long as business returns, that's the biggest key. But at the end, that's another thing. Like, you can make money in the stock market without being on the level that I am or I try to, you know, train people to get to that level. The reason I really do what I do when I research these companies, I listen to Congress calls I put in all the time, is to weigh up perform the stock market. You know,

the public count. It was like, Fidelity has had like, what, a 74% gain? That's why I do it. You know, not just from the perspective of like, you know,

but you can still make money in the stock. Like you're making money. Like you're doing very well for yourself, right? You could buy an index fund. You can still, like, don't matter which way you slice it,

you have to participate in a stock market, I feel like. I feel like if you're not, you're just losing money. Yeah. Like, you know what I mean? And you don't have to do day trading. You don't have to do any of that crazy stuff.

You know, it doesn't work. for 90 plus percent of people, right? You don't have to go there. But if you're not participating in some way in the stock market, it's usually just a big mistake. It really is. It really is.

I felt like such a genius, though, in March because I had all this cash just waiting for real estate. Yeah. Couldn't find a deal, and then it dropped. And I was just like, I did it. I did it. I timed the market.

But I didn't invest all my money. Like, I should have looked back at that and just, Allen. Yeah. Well, yeah. But it started buying in there. But still, I feel like I've, part of me in just like, I feel like I miss some of that run up. Yeah. Back. It's like, I could have saved so much money by just buying it. But you never know. Even now, in hindsight, things might be a lunch. When did you first meet Graham and what was your impression of them? So first met Graham and I think it was 2017. And I can't remember if he, he reached out

on maybe Snapchat, right? No, I think it was either email. Oh, it could have been email. Yeah, yeah, it could have been email. And at that time, I was kind of like, I was different back then. I was kind of like in this zone where I'm like, I don't really want to talk to anybody. That's the creator. Yeah, I didn't like mix with anybody. And I'm complete opposite now. Like I reach out to like YouTubers that are on the come up and try to like help them and guide them and things like that.

But back then I was very like, I'm in my own lane. I'm doing my own thing. Don't bother me. I don't care who you are. But, you know, Graham was one of the people that I was like I was open to. And, you know, he had a, I don't know what his channel size was back. then but it was you know a smaller channel and he i remember uh i think the first time we met you came over my house yep and uh whatever house i was living in at that time i think it was in Vegas

you know somewhere but um yeah and it was it was just awesome you know we met we talked i remember that you i think my parents were in town yeah yeah yeah and i remember you know this is a funny story about graham and this our first time meeting and you know we're talking and stuff and then like 20 minutes in he's like hey i got her listen you might you might be if I do this on I gotta order this specific like laptop there's a really good deal on B&H photo yeah yeah something like right around then he's like do you mind if I do this real quick it's just a really good deal and I was like go for it you know typical grand stuff in fashion he's gonna save some money even his first time meeting somebody but no it was good we

talked a bit and and then we kind of built our relationship from there later on down the road we did a conference together I remember it was in 2018 which which a funny story about that is you know our channels were at very different places back then and our personal brands were at very different places i remember you remember how hard it was to sell tickets to that oh yeah it was incredible i mean i think it didn't like the name of it yeah no there was there was so it was called like the building we had yeah we had no clue we had no clue what we were doing our personal brands were just we were still on like the come up yeah we could pack that place for like a thousand nights nowadays but like back then it's just like it was ridiculous but uh no and that was fun

and we've just you know built our relationship from there and he's one of the few like friends i actually have on YouTube where it's like not just about like YouTube I'm not just like trying to use him as like a you know person I'm like you know it's actually a friendship there and I don't have a lot of people in the space is very few I have that or you know I can really call friends because my biggest thing is like I don't like to have a lot of people that I'm not one of those type of people that likes to have a lot of people in my life because my time's limited and so I always look at it as if if if I want to conversate with you or talk with you on someone on a regular basis like you have to be important, you know what I mean? Because, you know, we do think about money, right? And if you're

spending all this time with all these different people, at the end of the day, you're not really thinking about, you know, what's the next investment opportunity. We want to be friends to someone who lifts you up. Yes. Bounce ideas off. Yeah. Like, like I like that we could talk and then I feel like I leave that conversation, be like, ooh, I get so many new ideas and things to think about. It's true. It's good. And I don't like, you know, just hanging out with people where all of a sudden you feel like you're just, you leave it. Yeah. Yeah. It's. It's a different perspective. And honestly, there's not a lot of people that really think like us.

So to find somebody else that is like on the same wavelength is like amazing. Because we're, you know, and I remember my wife was talking about it. She's like sometimes I feel like I can't really, you know, interrupt you and Graham when you're talking. Because you guys are just on this whole other level of talking about algorithm and thumbnail details. And like, you know, we get into so in depth on some of these subjects. But it's nice to have some, you know, somebody in the space that's really. thinking about the kind of stuff I'm thinking about. And like we can, you know, because it's really not.

Like once you get into this, it's like, you find a lot of wackos. Yes. No, 100%. Yeah, not to call anybody. But people are all just like, how can I make money like right now? How can I make money? And that's, and it's, and it's, that's it. Yeah.

And there's no longevity to it. It's like, what's today? What's today? What's today? Yeah. Oh, okay. Sal, sale, sale, sale, sale. Like, that's all it is.

And that's another thing. I've been wanting to build relationships with people that are going to be here for like the long term. That's kind of the way I view it. And I'm like, I don't want to build relationships with people that are just, you know, like here today and gone tomorrow type thing. There's a lot of them who just pop up really quick. And then they're big for a year. And then they just, they cash out. Yeah.

They find a way to cash out. Yeah. They're done. Yeah. Yeah. Yeah. Because I plan on being here for the long term. So I'm like if I want to build relationships in the space, whoever I want to build relationships with, it has to be people that like I like, I like one, but two, also I think they're going to be here for the long term.

I think it's really important. Like, you know, there's a lot of quick money people on social media. They just want to make quick money and get out. And, you know, if that's what they want to do, that's what they want to do. But I'm just like, why not build a long-term personal brand that people appreciate and love for, you know. It takes work. Yeah, it takes a lot of work. It takes a lot of care.

It takes a lot of attention. And on social media, the thing is you can scale, some people can scale really fast if they, you know, figure out something. And then they make some money and then they dip because they're like, they get content, too. You know, a lot of people, you know, they make a million. Or they start getting a reputation, which seems a lot more common. They make money until something happens. Yeah. And they're like, I'm out.

Yep. Yep. 100%. Yeah. Or they were using shady techniques from the beginning that we knew it was coming. And it's like, oh, it happens. Oh, and we've talked about many people in the space a thousand times. And we always can call it out.

We're like, this person's going down next. This person's going down. Oh, yeah. And it's just what happens, man. But, you know, there's a few key players in the financial space that are going to be here for a long term and there's there's a lot of people on the come up and we're going to see who can who can take it to that level and get to you know bigger numbers so but yeah no you know graham's awesome man that's all i got to say you know one of my favorite people yeah one of my favorite people thanks

um are you do you admire graham's frugality do you think he goes too far with it and are you frugal in any way yeah i think graham goes too far with it i've shared this with him before i think graham is way too conservative with his money so my kind of view is on money the money comes money goes but as long as you got like this this I have a I have a non-scarcity mindset nowadays and I don't mean to go to a place where you're spending every dollar comes in or even close to that because I don't even get remotely close to that level but I will say for you know Graham is is too much man it's too much for the type of money he hasn't just doesn't go yeah it never goes it doesn't go oh my gosh but I'm like yeah but at the same time I I've learned to respect it because it's

is who Graham is. He wouldn't be where he is now without that mindset. Yeah, that's true. Yeah, that's true. I played that to my favorite. It's funny. I actually make money from saving money. Yeah, exactly.

My brand is just because I've saved so much. It makes me more money to talk about saving. I always thought about myself as a frugal person. And my wife, you know, she always thought of me as a really frugal person until, you know, we started hanging out with Graham. She's like, oh, he's the next level. He's the next level of frugal. I've been getting better, though.

I've been getting better. Yeah. Yeah. Yeah. I think, I think he's sometimes just got to get out of that scarcity mindset. that, you know, like I said, I don't even spend remotely close to what I make in a month. Not even, it's not even like close. I invest most of my money or it goes to cash, one of those two areas.

But I'm willing to spend on if I want to spend money, it has to mean something to me, though. You know, I don't just spend money to spend money. You know, there's certain things like I don't honestly care that much about clothing. I probably bought these shorts I'm wearing for, I don't know, 30, 40 bucks. I got this shirt at the win for, I don't know, 40 bucks. That's not like I wear designer suits or this watch I'm wearing probably cost me three. or $400. I don't wear a $10,000, $20,000 watch because a $10,000 and $20,000 watch for me means

nothing. And respect. I don't get the watch. Yeah, yeah. I know you love watches. For me, I'm just like, I literally don't care. I just wanted to look cool. I don't care if it's a Rolex or this brand.

So I am about like spending money. I bought Tesla's very expensive, right? A performance. What's your day? What's the car you took here? I brought the Model X, but that's because I came with the family, although they went back with my brother-in-law. But, you know, that's a very expensive.

The Model X is like $100K. The model 3 was like 60K. That's a lot. That's like 160K and two cars. But those mean something to me. I really enjoy those. Especially the model 3. You know, taking you in it, Graham, it's like, it's fun, man.

So as long as it means something to me, I'll spend the money. And as long as it's not going overboard, that's my biggest thing. So, yeah. But yeah, Graham, he's extra, man. It's real. It's not just an end. No, it's not. You know better, though.

Just a couple more questions. Did you go to college? I did go to college, yeah. For like two and a half years, went to community college. Then you dropped out. Yep, then I dropped out. I started working at Quick Trip. And also college was so dang expensive.

I had to pay my own way in community college. And that was fairly cheap. I was able to pay with that without going debt. Yeah. But, yeah, I would have to pay my way through university. And I was just looking at it. And I was like, I started a quick trip and I was going to make like 40, 50K a year and just stash most of that money. So I was like, you know, forget this.

I don't want to take out a bunch of debt. go to university and kind of go that route. So I started doing the quick trip thing. And then I started investing simultaneously most of that money that was coming in. And that's how I built my first nest egg. That's how I started my business. That's how I started my YouTube channel. And it was immediately worth it?

100%. Yeah. Yeah, because I got that job where I was already making decent money, which I was like 21 and 40, 50K in Arizona goes a long way. Right. Especially during, you know, that was rate coming out of the Great Recession. So jobs are still hard to come by. So getting that, funneling that money. into stocks and just getting the gains and just like keeping that money going.

It was a game changer. I don't like look back and like, oh, I regret that. Like, that was a great decision. And because I wouldn't have been able to build up that nest egg, I feel, if I went to college. It would have put me further behind the eight ball because I would have taken out debt, had to pay debt down rather than invest that money. It would have slowed the process. I probably wouldn't have been able to work at quick trip and go to university at the same time.

So, yeah, looking back, it was the best, it was one of the best decisions. I ever made financially for me what's to actually drop out. Would you rather fight one horse-sized duck or a hundred duck-sized horses? What? A hundred duck-sized horses, duck-sized horses or one horse-sized duck-sized duck. One horse-sized duck? So you got a big duck or you have a hundred small horses? I think I'd rather do one, well, one big one.

because I could focus on just that one big one. Wow. The first person did say that. I'd rather just focus on the one big one. And also, I would feel, I'd feel bad about myself, beating up a little, a little bit of just small little cute horses. These are feral horses, though. Still, let's just go against the big one.

First person to say that. Let's go against the big one. And I'll focus on that one. It might eat me a lot, but we'll go for that one, okay? The next one, though, is what is it? Is cereal a soup? Oh, yeah, is cereal a soup? Serial a soup.

Oh, shoot, that's deep. Why is such a deep question? Is cereal a soup? I'm going to say no. No. Is a hot dog a sandwich? Is a hot dog a sandwich? Yes.

I would say a hot dog's a sandwich. I said it's not a sandwich. I mean, a hot dog is a hot dog, but if we're going to put it in a group, I feel like it's a sandwich because it's got two pieces of bread on each side, and it's a meat in the middle. Uh-huh. I could consider it a sandwich. I said it wasn't a sandwich because the two pieces.

of bread are connected are connected oh but you can disconnect it i know they come they come connected okay yeah i can see that and the final one is uh what was the first person that was milking a cow trying to do or what why did they do that they were bored i'll be honest so you know back in the day what's this thing i'm just saying i'm just going to start squeezing back in the day it was boring let's be honest like there was no tv there was no internet people are bored what the heck you're gonna do you're just sitting there looking at the clouds all day okay I mean if you do see an utter it's hard not to think like yeah I kind of want to touch that you think that yeah I don't think I want to mess around down there I'd be afraid I get kicked but hey I think it was boredom I think boredom

okay all right so I think we're good you get your finger or your hand and we go like that you guys with that said you guys all right ready one two two two guys thank you so with that said you guys thank you so much for watching and I really oh do you have your two free stocks on Weble? I don't have that. Okay, no. Use the referral link. Get two free stocks.

I'll say it. I'll say it. You could use the referral link down below, get your two free stocks. We've been talking about the stock market this entire time. Get your two free stocks on Weble. Make sure to destroy the like button, subscribe button, and notification bell. We'll link to your channel down below. Jack's information down below.

Just go down below. Smash the thumbs. Abliterate that button. Abliterate it. Yeah, there you go. So thank you so much for watching. until next time until next time

I thought that the entire episode all three of us were like this the entire episode our arms are just like this I could not stop I was trying not to go

with both elbows because I was like that would look really bad so I would be like putting it like this yeah I was like moving my arms the entire time there we go man

that was a great episode thank you so much no thanks for having me that was fun Graham and I literally haven't done a video since 2018 so you know it's fun to be

out.