Financial Advisors Correct the Internet (Part 2)
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What is the main topic discussed in this episode?
If you're worried the internet's lying to you, never fear. We're here to correct the internet. Brent, I am so excited to correct the internet today. Here we go.
I bought into the Pelosi fund. Yeah? It's doing really well. I bet it is. Yeah, I only put $1,000 in there, but it's beating my own money, guys.
Is the “Pelosi ETF” or politician-tracking fund a smart investment strategy?
Oh, come on. It's crazy that you could know, oh, we're going to do this big deal with AI chips. NVIDIA makes AI chips. I'm just going to buy a ton of NVIDIA stock. And then boom, we pass this thing. Hey, look at that. 500% increase. Nancy Pelosi is the scapegoat. But if you look, it's red, blue, across the line. They're all trading, making tons of money. They all go into Congress broke. They all come out rich as and they get $100,000 a year.
it is amazing that there's not more restrictions on these elected officials with essentially profiting from knowledge because the insider trading all through what we do has a lot more restrictions than what our elected officials have to deal with yeah insider trading is illegal but folks getting called on it and actually being able to like track down insider trading is not clear-cut black and white that is a little bit frustrating for everyday investors now what i think is the
better learning thing here is oftentimes you can come up with an idea and you're like, oh, I'm going to go buy this fund. Maybe it's some fund that tracks a politician, or maybe it's some other fund, some high flyer, some growth, some tech thing. And all of a sudden you do it and you get a 20%, 30%, 40% rate of, or maybe Maybe you participate in an IPO of a stock that comes out and all of a sudden it shoots through the roof at IPO. Holy cow, I'm a genius. I've got to double down. I figured this out. And lo and behold, if you give it enough time, time will expose all fools. And if you give it enough time, you'll recognize that, man, maybe that strategy I figured out, maybe that thing I thought that was this magic bullet that was going to go make me all this money wasn't quite as good as I thought.
And maybe the thing I ought to be doing with my dollars is the boring, slow, consistent, low-cost index investing that's proven to build millionaire after millionaire after millionaire after millionaire through time.
Well, and even if you wanted to use this strategy, Nancy's retiring, so just stick with the S&P 500.
I, that's an applause line. I don't think people truly understand what Robert Kiyosaki means by savers or losers. If you're getting your feelings, you probably need to listen up. Yeah, because the advice you're listening to right now is advice that was given to you before the iPhone even came out. You save $10,000. It's sitting in your account. Inflation, let's call it 3%. Money debasement, let's call it 10%. The hurdle rate is 13% for you to break even. Last time I checked, high-yield savings accounts aren't paying 14%, so. So you think you're getting a good deal, but you're already getting taxed on that interest anyway, so. Rug pull! Oh yeah, the S&P 500's pretty decent. It does just around 13%. All seriousness though, look into assets that grow over 13% in a year, or find a way to exponentially increase your income over,
13% in a year. Or you can start a business and you can exponentially increase your income.
What was the 10% money to basement thing?
I don't know. He threw so much in that cookie jar that I don't even know what the point.
I have so many questions!
Look, I thought he was going down the solid path. Whereas basically, you can't just let your money sit in cash because inflation's going to eat it alive over the long term. But then when he started throwing tomatoes at the S&P 500, I mean, we have shown over and over, and we survey our millionaire clients, being consistent and starting early, even with things like the S&P 500, is going to make you fabulously wealthy and successful over the long term. So to hear somebody poo-poo it really kind of disappoints me because what can you... Yeah, maybe you can do a one-off and make greater than 13% in a year, but consistency?
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Chapters
5 chapters
1
What is the main topic discussed in this episode?
0:00–0:18
2
Is the “Pelosi ETF” or politician-tracking fund a smart investment strategy?
0:18–5:25
3
Does short-term viral stock picking beat boring index investing over time?
5:25–11:06
4
What did Robert Kiyosaki mean by “savers are losers” and is it true?
11:06–14:04
5
How should young investors balance entrepreneurship, S&P 500 returns, and risk?
14:04–18:46