Owen Rascovich

And sometimes they just fall on your lap and sometimes they're terrible, let's be honest.

But sometimes the best ideas are the ones that you didn't come up with.

And so I think that's a really good thing.

We've talked about index funds and things like that.

Just because everyone else is doing it doesn't necessarily mean that you need to do something different.

you can you can you can just buy you need to find a completely different to everyone else you can just accept that that's that's okay okay so the second big lesson from the big show as you can imagine is that housing can go sharply backwards and it can happen very very fast so um we obviously know what happened or most listeners would know what happened around the time of the gfc particularly down south in the u.s a lot of houses just like the prices just went from like

$1 million to $200,000.

And effectively the banks were saying, if you can take on the loan, we'll give you the keys.

And that was it.

That was pretty much like the lending standards in the trough of the GFC.

And the point I wanted to make here is that property markets went backwards and suffered this great recession when everyone was most confident.

And coming back to the behavior gap and the point about being fearful when others are greedy, it's shown through again.

Yeah.

Okay, so two from the Wolf of Wall Street.

The first one is the finance industry has the best work breakups.

Anyone that's seen the show will know that there's some crazy parties that we have.

No?

Okay.

Well, okay.

Well, they have these massive parties and obviously that's representative of the entire finance industry.