Scott Sheridan
speaker
145 appearances
1 recordings
1 series
first heard May 2025
last heard May 2025
Scott Sheridan’s voice in public audio — every appearance, attributed to the second.
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Appearances
Hiring the wrong person is worse than not hiring somebody. So, if you are not sure, don't do it. Because when I say it's worse, what happens is it takes a while to figure out that you have the wrong person. Once you have the wrong person, now you've got to put time and effort into figuring out how you're going to get rid of the person.
Then once you do that, then you've got to start the process over to backfill that role. So Again, hiring the wrong person is worse than not hiring somebody.
Now, going back to my partner, I can't stress enough about how critical it is that if you do have partners, pick partners that you literally would hand your checkbook or your credit card to and say, I have total confidence with what you're going to do with this.
I totally agree with that.
Wie weit geht das Investieren?
Wie weit geht das Investieren? Zunächst einmal, jemand, der einen zusätzlichen Einkommen hat. Obwohl, wenn du dein Geld leben willst, dann hast du keinen zusätzlichen Einkommen. Aber hoffentlich, wenn du ein paar Jahre gearbeitet hast und du ein bisschen Geld weggegeben hast, kann ich dir nicht erzählen, wie wichtig es ist, Geld regelmäßig wegzunehmen.
Ob es jedes paar Wochen ist, ob es jedes Monat ist. Und es könnte 50 Dollar sein. Es könnte 100 Dollar sein. Es könnte 500 Dollar sein. Was auch immer. Start einfach, Geld in den Stockmarkt zu bekommen. Wir haben vorhin über die S&P 500 gesprochen oder über die QQQs, das ist der Nasdaq. Das ist wirklich einfach. Du kannst Fractionals kaufen. Du kannst $25 wert kaufen.
Es ist also wichtig, dass die Leute engagiert sind. Wenn du ein Portfolio hast, wenn du mehr Geld hast, um etwas zu machen. Take a look at what I was just talking about earlier. It might not be the right strategy for you, but for me, selling puts in stocks that have elevated volatility, selling puts that are out of the money, I'm typically looking around at 25 Delta.
So I've got some cushion in case I'm wrong. But again, do it only if you want to buy the shares. So don't go do it because, oh, well, the market was down, now it's up again, and it's just going to keep going higher. Nobody knows where the market's going. And you've made the comment that we're in for... Viele Jahre Volatilität und ich stimme Ihnen zu.
Wird es im nächsten Jahr oder zwei schwerer werden? Vielleicht. Wird es im nächsten Jahr oder zwei niedriger werden? Wahrscheinlich. Also nimm nicht nur einen Platz und sage, ich gehe heute einfach alle rein, weil ich denke, heute ist der Tag. Aber versuche auch nicht zu paniken. Die S&Ps gingen von fast 6200 bis 4800. You know, I'm sure there were people who were like, I just want out.
They just get me out. Now we're back up to, right, to 50. And you go, then you probably have positions that are too big, if that's the approach. There's also, if we do enter another 15 plus year bull market. There's nothing wrong with having mental or actual stops in. So if you do buy stocks and you have a great run, you could just keep raising your stops.
So if you buy a stock at 100 and, you know, a handful of years, it's now 200, you could say, you know what, I'm going to let it go. But if it gets to 180, I'm out. I'm going to get out. And that's if you put an actual stop in on the stock, your broker will take that order. And you just say, look, set it and forget it. I don't have to think about it. Coming back to the business side.
If somebody has the opportunity to go start a business and that has been a dream to do it, I can't stress enough, if you have the ability to do it, go do it. Even if it means that you have your regular job and you're doing this on nights and weekends to get going, don't have a regret in your life in 15, 20, 30 years to say, I really wish I would have done it.
What's the worst thing that happens is you fail.
There is nothing as scary as it can be. And it can be scary. You know, when you only eat what you kill, that's very different than getting a paycheck and a corporate credit card. But there is nothing in the business world that is more satisfying than starting a business and watching it grow and develop and build into something.
And my last comment to that is, if you do get to that point and you do have suitors, you have people that are knocking on your door that want to invest in your company. Somebody told us this early on as a private equity firm when we were taking money for Thinkorswim. We did not go with this firm, but one of the comments from the partner of private equity firm said, whoever you go with,
Make sure you get whatever you want in writing before you sign the deal. It's really easy to fall in love with the concept of, oh my God, these people want to invest money in our business. Just remember, when they do that, you're going to lose some, if not most of the control in your business.
And that's something you need to think about, because if you don't want to lose control, don't take the money. If you want to take the money, get what you can. I'm not saying they're going to give you everything, but don't say, I'll wait until I sign the deal and then go back and ask for something else. You're not getting it.
Von dem, was ich kenne, ist es großartig, großartig und ich denke, dass es wirklich die Art und Weise ändert, wie viele von uns vorwärts arbeiten. Das gesagt, sehe ich es nicht als die Technologie oder die technologische Fähigkeit, die Leute aus dem Geschäft bringen wird und alle Leben verändert und niemand mehr einen Job hat. Ich sehe das nicht. Gehen einige Jobs weg?
Ja, aber das ist nur, weißt du, das ist nur Technologie, die vorwärts geht. You know, when you hear about people complaining, well, I might lose my job, you go back and look at jobs that we've lost over time due to technological advancements. So, you know, you have, you name things. A little bit.
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