IFB98: Why You Shouldn’t Be a Lone Wolf Investor

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Dave:                                    00:36                     All right folks, we’ll welcome to the Investing for Beginners podcast. This is episode ninety-eight. Tonight we’re going to talk about why you shouldn’t be a lone wolf investor. And I’m going to have Andrew kind of take us from there. All Right, Andrew, why don’t you go ahead and chat.

Andrew:                              00:50                     Yeah, I love it. So maybe I’m recording this because this is something I need to tell myself more than anything else. Having people around and having them influence your life can do a lot of things for you. Very, very well. They say the five people closest to you are the most important because they impact how you live your life and the big, big way. So I, I kind of present this topic and this idea based on some personal context. I guess I didn’t mean to get like super personal, but there’s a saying that as you get close to the turn of a decade you start to make big moves, right? So we’re here close to the end of 2020 and that full decade before.

Andrew:                              01:41                     So it’s time to make some big moves, and we’re going to talk about some big ideas and the show. So when I think about what got me here and I kind of reflect on my past and the journey I’ve taken, and even this podcast where we’re at 98 episodes approaching a hundred here, and we have way more people than I thought, whatever, listening and tune in. It’s been incredible. We get tons of feedback, tons of emails, and that’s been such a wild ride. But you know, it’s funny to think about how it all started then and maybe how, if it weren’t for the people that were placed in at least my life, how it when I’ve gotten this far. So when I think about investing personal finance, obviously you have the different people who’ve influenced you through their books or their writings, and we like to talk about over and over again on the podcast.

Andrew:                              02:40                     You know, make sure that you read a lot, be a reader, Warren Buffett reads hours and hours and hours a day and tried to take these lessons from these books as-as best you can and apply them to your finances. And that’s all good and great. But sometimes, you know, you wonder if-if I didn’t have this person or that person to kind of push me here, pushed me there when I even knew to look through, look at books and kind of gain the knowledge or even find the desire to gain the knowledge. Right? So when I think back, I remember, okay, a work colleague who really got me started on this stuff and it was at the time of my life where I did not care or even think at all about personal finance or anything like that. I was really just kinda pay attention to paycheck. Just kind of figuring, okay, well the, the, the riches are for the people who are either born into it or it’s like a mark Zuckerberg story where they become instantly rich and popular and famous.

Andrew:                              03:48                     And then you kind of have to do the popular famous part to get rich, right? So that’s how I always thought of it. And you never realize that it doesn’t take too much of an income to really start to build momentum and start to build your net worth and actually build income streams and do all of these sorts of things to eventually get to a place of financial freedom. So I think in popular culture and just the way we live our lives, there’s, there’s no really huge outlet for that. We all find our different ways to kind of stumble into it. And so I’m grateful for that person to, to light that fire in me and really basically exposed me to this idea that while financial freedom as possible, wow, there’s people all around me who are doing these sorts of things with their finances. Where there, saving more than they spend, right? Or, or, or buying assets and how not easy it is, but how accessible it is because being, being fiscally responsible, it’s not, it’s not easy and it’s simple.

Andrew:                              05:00                     So I start to think about how some people can kind of be thrown into your life and how it’s kind of our own decision and how we, how we see ourselves as investors and how we see ourselves moving forward. There can be certain ways to kind of attract the type of people you want into your life versus kind of stumbling or getting lucky. I was fortunate and lucky to have certain people in my life. And so thinking and, and kind of pushing that forward while I, if I, if I put an effort towards gaining knowledge, if I put an effort towards making money, if I put an effort towards building wealth, you know, it’s like, well, what if I also put an effort into building the next relationships that will really take me to that next level.

Andrew:                              05:53                     So that’s kind of an idea that I think is worth, because frankly I don’t hear at all in the personal finance world, but if you, if you really take like deep, deep reflection and you think about, and it doesn’t have to be about personal finances or money too, but you think about some of the things that have really impacted your life relationally. We can talk about careerwise again or even just a with a hobby or something that you’re really passionate about. There’s still people in your life. They get placed there and have had a way to really impact and change your results sometimes without them even trying. So I think if we can maybe look, it’s like, okay, well let’s see some other people who have found success with that. Let’s, let’s try the observe, like how they kind of have to see if, how, how it’s affected them, how they’ve found success.

Andrew:                              06:52                     So it’s kind of like the way we like to do things around here. Let’s look, let’s look at success and let’s try that, emulate it and learn from it. And then from there it’s like, okay, well how can we, maybe can we utilize some of the gifts that we have and some of the opportunities that we have to, to, to take a next step forward and really grow as individuals. Right. So my, I mean, my first thing that comes to mind would be Warren Buffet and Charlie monger. I think they were both good investors in their own right, but then when they came together, it turns something that, where I think their paths were kind of going separately. Not to say that they were going bad, they were both doing great. The once their paths converged, something magical happened. And that’s, that’s what happened with Berkshire today.

Dave:                                    07:43                     Absolutely. And the, that’s a great, that’s a great point. And a Buffet, like you said, early in his career was doing awesome and Charlie was doing great as well. But you know, as Charlie said, you know, you know, laws a fine profession, but you could do better. When Munger came aboard, he really affected, Warrens ideas and thoughts about investing because he was very much in the Ben Graham camp and was trying to find is cheaper stocks as he could possibly find and trying to make money off of that. And, and Charlie was coming much more from the qualitative side and, trying to, you know, get Warren to look at the whole picture as opposed to just the, you know, hey, it’s cheap, it’s going to make more money because it’s, you know, it’s a good company and it’s going to make money.

Dave:                                    08:42                     And you know, Charlie had a huge influence on him and had a big impact on and everything has happened. And you know, there are thing that’s awesome about their relationship is they, they each other as a way of bouncing ideas off each other and trying to poke holes in their theories and thesis is of the different companies. And one of the things that Charlie always says and in the annual meetings and different, uh, interviews that he’s given is that he’s always trying to invert invert, invert and vert. And he’s always looking to look at things from different angles. And his, he said in his, his books is that he tries to destroy all of his ideas and he and Warren do that for each other. And his idea with that is, is that by destroying or attempting to destroy an investment idea, if they can poke holes in it and find problems with it, then that can save them a lot of money.

Dave:                                    09:41                     So ie the margin of safety and this is a fantastic idea and it’s a great relationship that they have and it’s a great way to improve each other’s ideas, thoughts and you know, having somebody to bounce things off of is one of the greatest things out there. And you know, if I think back on some of the different periods of my life and different aspects, when I was first in the restaurant business and I really got into wine, I was lucky to have somebody put in front of me that had a lot of the same ideas that I did, but not exactly. And he and I had different palettes. We liked different kinds of stuff, but, and I was much more of the Geek and you know, reading the books and reading the blogs and you know, reading the magazines and studying all this stuff.

Dave:                                    10:31                     And, and he was much more um, from the heart and intellectual, instinctive. And so when we would taste wines together, you know, I would be analyzing all the technical aspects of it and he would always be analyzing, you know, what does it actually tastes like? And not that I didn’t, but he came from it at a different angle. And so working together it, you know, help knowledge and passion and, you know, improvement in tasting of the wines and appreciating a more, and I helped him. We’re much more about the factual part of, of wine training and you know, we both helped each other’s, you know, wine lists increase and our sales and our restaurants and you know, all the different aspects. And the same thing happens with investing in, you know, I’ve been lucky again to have Andrew put in front of me as a person that I can bounce ideas off of and we could talk about the different ideas of, you know, he’s helped me grow as an investor, you know, immensely in the last year and a half, two years that we’ve been working together.

Dave:                                    11:37                     And just having that person that I could go to and talk about, hey, I got this idea and I really liked this idea and what do you think of this? And he can help me try to poke holes in it and I could try to help him do the same thing. And so having that person or persons in your life that can help you, you’ll grow whatever idea it is you’re working on. Right now we’re focusing on investing a personal finance because that’s what we talk about on the show. But it could be anything. It could be, you know, weightlifting. It could be losing weight, it can be, you know, studying for the LSAT, whatever it may be. You know, there’s just so many different aspects that you can go at this. But having, you know, a, not a guide, it’s not the right word for it, but having some of that you can work with can help you so much along the way.

Dave:                                    12:24                     And, you know, kind of seguing off of Buffett and Munger, you know, Andrew and I, I’m going to let Andrew talk a lot more about this, but you know, Andrew and I have the advantage of being forced to work on our investing ideas and flesh out these things because we write a blog, we both write blogs and we have this podcast and that helps us really flesh out these ideas. And so I’m going to turn it over to Andrew. I’ll let him talk a lot more about that cause he’s good, be more eloquent than I am. But I just kind of wanted to segue off of Warren and Charlie and how they’ve been able to help each other. So Andrew, once you go ahead and talk a little bit.

Andrew:                              13:02                     I doubt it will be more eloquently, but I can definitely fill more time if that’s what you want. I tend to like to run my mouth that these things. But I mean you look at buffer and yeah, among her. And so if you look at buffet, he, he writes these annual, these letters to the shareholders every year. And I think he talks about how, I don’t want to put words in Buffett’s mouth, but for whatever reason, I remember hearing something about this feedback where basically the fact that he has to write this thing to a shareholders, um, kind of keeps him going. Cause you know, he, he doesn’t have really, like with all the money he has and the fact that all of his investments are working for him, he really doesn’t have to lift a finger. He enjoys writing these, these annual letters to shareholders. And it’s become this iconic thing where they made books out of it. And every year it’s like one of the biggest events in the investment. We’re in the investment world. Certainly in the value investing world is when Buffett’s letter to his shareholders comes out.

Andrew:                              14:10                     So I know at least personally for me, the fact that we, they have, and I have committed for the most part, I mean we like to take breaks and no, nobody’s really cracking our web. So if we skip a week, I’m sure listeners have now, this will skip weeks every once in a while because we’re human beings. We, we got lives too. Okay, I like to take vacation. But other than that, I mean we, we do try to stick to some sort of schedule where we’re releasing valuable content regularly. And so a lot of times what, what can happen behind the scenes that you might not realize is a lot of thinking and analysis in a sense, what Dave was saying about monger, about kind of breaking down ideas. That tends to happen through the process as well as we’re creating, creating this content for you guys.

Andrew:                              15:04                     And I think it’s something that’s, that’s highly beneficial. And I hope that anybody who’s trying to become a great investor can kind of know what that feels like and experience it for themselves because they say that one of the best ways, I think there’s like a hierarchy. It’s like if you want to learn something, um, you could read it and, and you’ll, you’ll absorb a little bit. You can listen to a, it’ll absorb a little more and you can watch it absorb a little more. They said at the very top is using it and then even above that is doing it. I’m not, I’m sorry. Using it, doing it. Yeah, I guess those would be similar. And then after that is actually teaching it. So once you teach it, it really forces your brain to really think through. And if you’re not, you’re not going to be able to teach it if you don’t understand it.

Andrew:                              15:51                     And so all that to say, I think if, if somebody who’s an investor can find this outlet where they can start fleshing out their own ideas and, and having sorts of deadlines and everything like that, then it can be really beneficial to them. So my idea, well sorry, I say my Dave and i’s idea for some of the ideas we’ve talked about and, and um, some of the ways that like we can try to capitalize on the fact that we have an audience. We have, we have a network of listeners and basically a network of people who are all sort of interested in, in very similar things. We have similar values in the sense that we want to save money, right? We want to build wealth, we want to build income streams, we want to pursue financial freedom. And I would say a majority, obviously not all we get emails saying people don’t always agree with, with our stock selection philosophy.

Andrew:                              17:02                     But I would say it’s safe to say like a majority of listeners, they agree with my crazy rants on dividends. They agree that you should buy with a margin of safety, emphasis on the safety, you should try to be a value investor, try to buy at a discount to intrinsic value. So with all those things in mind, um, we, we’ve decided to present what we’re calling the dividend value invesors mastermind. So this is something that I think can be a great opportunity for people who are looking to kind of connect, find other people with similar values and try to kind of find maybe there Charlie or there Warren, right? Or just like a group of people where we can throw ideas back and forth between each other. So the reason why I mentioned, you know, creating content and how having a blog and having a podcast really helps us flush out ideas.

Andrew:                              18:04                     One of the, so more more details for people who are interested, they can, they can definitely reach out and I can give a more granule granular details. However, so the way, the way this mastermind with essentially work as you would have monthly meetings and they’re going to be really small, really intimate, and you each, each person in the mastermind gets, gets a certain month. So whatever month that person has, then they are required, required to submit a stock research report. And so this is something where it doesn’t have to be long, but it does have to be, you know, what you feel is your best stock idea today. You present it, you have people poke holes in it, right? And so by having that deadline, it’s very similar to having what we have here on the podcast where we know, okay, it’s about that time we got to come up with an episode.

Andrew:                              19:05                     Let’s, let’s make sure we’ve got something good. In the same token, you know, if your dollar cost averaging, you’re, you’re looking for stocks every month, you’re going to want to make sure you have a good idea. And that’s how you can grow as an investor. If you have a trusted small group of other people with your same values, um, Kinda your same level as far as what you’re trying to do with your portfolio, then that can be a really valuable resource and a way to kind of level up the way that you look at stocks, the way that you research stocks and the way that you manage your portfolio. So that’s kind of the big idea behind this mastermind. Another part of these monthly meetings is having these regular portfolio reviews. So again, just like a person would present a stock idea, you have a person talk about their portfolio and because again, it’s a small intimate private group.

Andrew:                              20:03                     Obviously share as much as you want, but it’s something that’s all this information, this personal information about portfolios with all be kept inside the group. But basically you have an opportunity to talk with. Um, basically was it, uh, the, the target groups like five to eight, so four to seven other investors to kind of look at your portfolio, see what kind of decisions you’re making, how your allocations are looking, how that kind of counterbalances with the stock ideas that you see today. And so again, another opportunity to bounce ideas, tear down some ideas, and really, really try to hone in on how you’re managing a portfolio.

Andrew:                              20:58                     So this, this is kind of the, the central thesis behind the dividend value investors masterminds. There’s other other parts of it too, which I would like to talk about in this episode as well. Um, did you have any thoughts as far as what I’ve presented so far? No, I think that’s great. It’s a great overview and a really good introduction to the whole thing. Okay. So obviously you and I, we love talking about entrepreneurship alongside investing. I believe a lot of it goes hand in hand. Not certainly not for everybody, for the crazy people like me who just can’t stop working and he’s working on their passion. Right. So, Yep. I wanted to ask you Dave, we, we kind of talked about somebody’s affecting, Your personal interests, your personal hobbies. He talked about the wine and obviously we’re talking about investing as well as far as building passive income, building a side income, building an additional income stream besides your job besides investments and that’s what we’ve done together here. Have you had input as far as being an entrepreneur, being a go gather, being a hard worker or anything like that that you think kind of relates to or reminds you of maybe what you saw with investing?

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Dave:                                    22:39                     I guess two people that really helped me a lot along this journey have been you and Pat Flynn. I honestly don’t know Pat personally, but I listened to his podcasts and I’ve read his books and I read his blogs on a regular basis and you know, he’s been very, very encouraging and very helpful and that’s kind of where he comes from and that’s kind of his, his thing.

Dave:                                    23:08                     Yeah, I came from an idea of, you know, working at the bank and seeing all these people in front of me on a daily basis that had really no resource and really didn’t know where to go and how to,

Andrew:                              23:23                     okay,

Dave:                                    23:23                     They wanted to invest in, it was like this idea that they had in front of them and they knew that they should and one or two, but they didn’t know where to go or how to do it. And that was kind of the first thing that kind of lit a fire under me. Like, Hey, there’s an opportunity here and this is a passion for me and this is something that I’m super, super in. And then, you know, I reading your blog and you’re reading your ideas and you had written a post quite a while ago talking about how you could start your own business and, and you know, writing and all those things. And it just really kind of lit a fire under me that, you know, hey, you know, he’s coming from a place that I’m coming from and he’s able to do it.

Dave:                                    24:09                     So why can’t I? And, you know, just based on my own personal experiences with, you know, being a musician and, you know, starting from nothing and, and, you know, working my way up to being able to play my guitar for a living and knowing nothing about wine and being able to basically make myself a sommlier, you know, those are all things that I could draw from, from my past that could help me along the way of, you know, becoming an entrepreneur and having other things going on besides just my quote unquote day job, whether it was worth bank or whether it’s worth working in the restaurant business, whatever it may be. And so, you know, having those influences have really helped me encourage me that, hey, I can do this. You know, it is something that I can do. And you know, not to say that those people aren’t special, they are special, but it doesn’t mean it means, it also gave me encouragement and like, hey, if they could do it, so can I, you know, can a dunk a basketball? No. Am I ever going to be able to know? But these other things, yeah, absolutely. I could do those. So definitely within my, my skillset and my range. So does that answer your question?

Andrew:                              25:22                     It does. So kind of seeing other people achieving what you want to achieve and kind of make it feel like it’s possible for you.

Dave:                                    25:31                     Yeah, absolutely. Yup. No, totally. What it did. I love that.

Andrew:                              25:36                     I think that that can, that’s something you could find in the mastermind. For me personally, kind of thinking about how my entrepreneurial journey has crafted it’s way, I guess. Like I said, it’s been a, a self reflective time, but I have a, a family relative, you know, who really, really successful businessman and I, uh, had asked him out for, for a meal and to pitch like a business idea. And it was, it was, what struck me so much about this is, is how such a small window or even like a single idea can change the trajectory of the results that you see in the future.

Andrew:                              26:28                     So for me, with this relative, I again, I talk, I talk, I talked earlier in this episode about how, I had this idea of I had this preconceived idea, which I think is kind of perpetrated and in our culture and it’s kind of like the mainstream idea of how riches are made or how somebody can be an entrepreneur. And so for me, entrepreneurial wise, I had this idea, well, I could just outsmart everything. I just need a good idea. You know, I don’t actually need to get my hands dirty. I can just be smarter or have better idea and that can kind of, and you know like you use other people to do work while I don’t do any work myself, right. Just to set up a business and sip Pina coladas on the beach all day long. And then that was kind of what I thought would happen. In reality, it’s kind of the complete opposite. I Dunno if you’ve seen the, they have these memes where it’s like a true leader is actually out there pushing, you know, and instead of being on the, on the cart, bad, bad example to use in a podcast because nobody can visualize what I just said.

Andrew:                              27:41                     But you know, after basically after talking with my relative, I realized the, the fact that he actually started from the ground up, he worked before he had all these people working for him. He was the one doing everything, working 60 hours a week. And so it was that single idea that kind of changed because I had had some like entrepreneurial ideas in the past and I’ve always had them and have them not go anywhere and, and kind of wondered why this planted the seed in me. Just one single idea that made my next entrepreneurial ventures quite fruitful and then something that I’m grateful for that I know he doesn’t, doesn’t even realize that, that, that, that single idea made an impact actually with, with you and I, Dave. We had seen, we had to observe somebody who, who’s in our space who was doing something that we liked, that we wanted to do with, with what, what, what we’re doing on the podcast.

Andrew:                              28:38                     And so, uh, we were struggling in a certain area and we had asked for just simple advice and he gave us like 10 minutes of his advice and ended up changing a lot for us and giving us these massive results. And so what I’m trying to get at is there’s so much power in finding somebody who’s either just ahead of you or has what you want and to be able to have access to them and be able to even get a single idea. It could, it could be something as small as five to 10 minutes and be able to take that idea and radically change the way that your results happen in the future. It can be something that’s so impactful and can really leave a lasting, lasting mark. And so I think while kind of the first part of what I hope this mastermind will will be special for people is, is the idea of kind of tearing down your ideas and becoming a better investor.

Andrew:                              29:38                     I think the other side of that is having other people again with your similar values, other people who are really succeeding and doing the things that you would like to do and having the access to those people and being able to network and have regular meetings with, with people in a mastermind setting and that can, that can really change that, that that opportunity to network. And can really do a lot of things for you, even if it’s just an idea or again, a single idea or a mindset shift. Uh, you talk about, you talked about how Pat Flynn really made a big influence in your, um, kind of entrepreneurial journey and, and, and starting to really, you put yourself out there, you started writing and then crazily decided and agreed to do this podcast with me. But really just putting yourself out there, having the courage to, to step up and try to relay everything that you’re learning in an educational way so other people can learn to.

Andrew:                              30:47                     What I found interesting about Pat was, I remember kind of similar to your story, you were talking about how you would read my blogs and listen, listen to the old podcasts I was on. I used to listen to Pat Flynn’s podcast and I remember, he always talks about how when he went fulltime for his entrepreneur business, how it came just after he got laid off and how what he did was he had gotten laid off. And so he was kind of in this make or break moment. And he had this thing on the side. He had this blog and he will actually went to a mastermind and said that he shares us. And I really listened to it recently. So it was episode 100. He shares how he, he went to this mastermind and somebody had given them an idea, a business idea, and told them, hey, you should take this full time.

Andrew:                              31:42                     That’s what they ended up doing. And now he’s Pat Flynn. He’s like number, you know, top five and the podcasting for business and like a super celebrity and kind of the face of passive income. So again, I just hope that we understand that there’s value and reaching out and networking with people. There’s a lot of value that can be gleaned that’s additional from just kind of the regular ways to try to learn about investing. So when I think of the regular ways, you know, listening to the show, reading blogs, reading books, I think those are all fantastic things. But I think there’s other maybe potential ways to, to really kind of 10 x our results by, you know, maybe putting the right people in your life and really kind of making the effort to do that and to try to, you know, create your own luck.

Andrew:                              32:41                     You know, you can hope for the best, but, just try really try to make an effort just like you would in any other way that you would try the, to gain knowledge and gain info. So a couple of closing thoughts about this. If you’re interested and you want to, you want to learn more about the mastermind, you can go to dividendvalueinvestors.com. I put a kind of small little summary about what the vision is here, what, what’s going to be included. And um, basically if you are interested, you will need to, look at my calendar availability, schedule a call with me and I can give you more details. I don’t want to, I don’t want to go too much into the details. There is, some private nature of what we’re doing here. Again, it’s going to be small. We’re talking about small mastermind group, very intimate setting.

Andrew:                              33:46                     So we will be taking applications. There is very high membership dues. So we did this on purpose for me. So, how the membership dues relate to anything I’ve ever sold. It’s like much higher on a scale of 10 to what I’ve have charged for some of my other products. So that was very intentional that, so basically it’s the reason why priced it so high. It’s coming from a place of abundance rather than scarcity. So when you think about abundance and you think about the way wealth is generally been created, I think it’s, it’s clear we’re in, we’re products of a capitalist society. A wealth has been created through innovation and invention. And when you frame, if I can be like leave one, kind of see their idea with somebody listening. If you frame the way wealth is made, instead of thinking of a scarcity mindset or wealth is taken from somebody, you think of, uh, abundance mindset, where wealth is created by people. We plant orchards of trees, right? And it creates free shade. Uh, instead of taking your neighbor’s tree, implanting it in your ground, right? So when you think of like abundance versus scarcity and you think about what some of the best, um, let’s say, let’s take like an athlete, let’s take like, like a Tom Brady, right?

Andrew:                              35:23                     It might sound to the normal person, like absolutely nuts to pay some guy $40,000 to be you’re a nutritionist or to pay thousands of dollars for like a better, I dunno, chicken or fish or whatever, right? Like why would I pay that when I can pay like 10 a 10th of the cost and get essentially the same thing? Well, there’s a reason why he, he cares about those little details. Those, those little details can be a big ROI for him. If Tom Brady can throw five more touchdowns in the season, that’s what millions of dollars more. And so if he’s spent, let’s say 50,000 to get the best nutrition, then you know, he got huge ROI. But you, you, you look at somebody who’s kind of like you or me, like a normal dude, it’s like, well, I wouldn’t pay 50,000 for that. So we wouldn’t understand like how anybody could ever pay 50,000 because we don’t put ourselves in other people’s shoes. And so that’s, that’s kind of what I hope you try to think about with abundance and scarcity is again, like I said, a couple ideas can really make a huge impact and have a huge ROI.

Andrew:                              36:38                     And so, knowing that and kind of setting, sending the bar at that level, um, we’re really hoping to attract the type of people who think that way as well. There’s also a requirement that you have to have in order to apply, you have to have a portfolio of 25,000 or more. Must be managing that. And again, that’s setting the bar because the idea is to have a group of serious investors meeting together with significant sums that they’re investing. And so, you know, it’s, it’s an attempt to kind of put like a floor on, you know, I’ll give you an example. They got like Facebook groups, I don’t know if you guys have ever gone in and, but when you get into some of those Facebook groups and you get like all ranges of people, some of them can be good and some of them is just, you got people coming in and they’re like, uh, what’s, uh, what’s it going on? Their valued stock. And some of these says cannabis and then everybody’s like, Yay. Or you got people coming in and it’s like, well, what’s a PE ratio? You know? So it’s good.

Andrew:                              37:57                     And obviously I love beginners that we always talk to beginners. The idea of this, this mastermind is, is kind of that next level, the next step after beginner level. And so you really want to have people who are all kind of at similar levels able to talk about these ideas, um, as peers. And so that’s the reason for kind of some of those strict requirements. If it’s something you’re interested in, we have the masterminds that are going to, again, like I said, meet once a month, that’s going to be online. And then again, we’re going to have an annual, and in person dinner that’s included. And that’s for founding members of this mastermind only.

Andrew:                              38:42                     And also the opportunity basically to do a business coaching and brainstorming with me once a month. And so again, that’s just for founding members here for the year 2019. And so if you’re at all interested in that, go the dividend value masters.com check out my meeting availability. You can schedule a call with me, uh, please, serious people only. And then from there I can, I can talk to you more and in depth about what the mastermind is about and talk about how we can get you, get you started on an application and see if it’s a good fit with, with the other people we have. So I believe Dave, you said something about you’re going to offer your services as well in addition to mine.

Dave:                                    39:35                     Absolutely. I’m here to help it just as much as Andrew is. I think everybody comes from different places of strength. And you know, Andrew and I were talking about this earlier and one of the things that I think Andrew is fantastic is, you know, creativity and coming up with great ideas and just being very free flowing and great at that kind of thing. And you know, I think one of my strengths is being able to look at an idea and then helping improve the framework of the idea and adding little touches that can, you know, enhance the idea. And I’ve always felt like I’m better at being an analyst than I am being a creator. And so when Andrew was talking about some of the business ideas and helping people with their entrepreneurship journey and doing business calls, uh, you know, he’s going to be able to help you more consistently than I am, but I’m definitely going to be there to, you know, put my 2 cents in where Andrew and I feel like it’s going to be a good fit and a help for the people that we’re talking to.

Dave:                                    40:45                     Because again, everybody’s in a different place in their journey. And you know, I personally feel like Andrew’s farther along in his journey with his entrepreneurship than I am. And so I think that he is much better suited to be a consistent person to help everybody, whereas I feel like they’re going to be certain people that I can certainly help and I will be there to help people with that. And you know, the same thing’s going to, you know, apply with the investing and, and those kinds of things. I’ll be much more involved with that and helping, you know, all right, alongside Andrew and you know, the the great idea and you know, the, the, the, the bonus part of being involved with these masterminds. If you think about, you know, any of these great entrepreneurs that Andrew and I have talked about a little bit tonight, such as Pat Flynn and some of these other great people out there, they’re all involved in mastermind groups and it’s a fantastic way of having likeminded people and using that opportunity to develop and flesh out your idea.

Dave:                                    41:52                     No, we’re a great idea is going to come from, you never know what kind of idea, you know, you may go into something like a meeting, like Andrew for example, he was talking about his, his relative. He went into that meeting, I’m sure with the idea, hey, I’m going to throw these ideas at him and see what he thinks about those ideas. And instead Andrew came back with, you know, the, the takeaway from that meeting with his relative was that if you work your butt off and you’d be a great leader, like Julius Caesar or not, you know, riding on a horse, he’s walking along with his guys eating the same rations they did sleeping in the same tents as he was, and being a leader that that’s really where you’re going to enhance your ideas and that’s really how you’re going to get where you want to go.

Dave:                                    42:39                     And so I think being involved in a mastermind like this can really enhance your ideas because you’re going to have likeminded people that you can bounce your ideas off of. The investing world I feel like is, and this is why I was so excited about this idea, is the investing world tends to be kind of a solo thing. And a lot of times we don’t have other people to bounce ideas off of. You know, you come up with this great fantastic investment idea of whatever company it is and sometimes you really don’t have an outlet to, to really talk to somebody about it. And this mastermind, we’ll give you that opportunity to call me up and say, hey Dave, what do you think of this? And you know, I can say, Hey, you know, let’s sit down and talk about it. Tell me your idea to do the, let’s talk about it.

Dave:                                    43:30                     And that’s what this is all about is trying to help everybody, you know, cause that’s what we’re all here for is to help each other. And like Andrew was talking about with the abundance idea, does the perfect idea of the perfect way of expressing what we’re really trying to do here with this podcast and with this mastermind and some of the other teaching things that we’ve done is we’re coming from a place of this is what we’ve learned. We want to help people and that’s how we’re going to make the world better. And that’s how we’re going to make each other better is by trying to help each other. And I think that’s really where this is going to be a great resource for people.

Andrew:                              44:10                     I told you, you speak more eloquently than I do than I do.

Dave:                                    44:15                     I have my moments.

Andrew:                              44:18                     Oh yeah. I guess that’s, that’s what we’ve got for you guys today. If you’re interested in, again, uh, you can go to the URL, it’s basically to summarize, you know, investors that, that love dividends. Like we do love value investing like we do and maybe have an entrepreneurial mindset. Then that’s another bonus too. Cause then you can have access to those, brainstorming and mentorship sessions. So if you want to do that, I will keep my calendar relatively open, basically until June 1st, 2019. So if you’re listening to this way in the future, I’m sorry, maybe try again for the next year’s enrollment, but we’re going to do, you know, try to scam you. Got To schedule a call with me, before June 1st and actually June 1st is when we’re going to take the last of the applications and then we’re going to actually start the mastermind sessions in July.

Andrew:                              45:23                     So try that, try to schedule that call and then, get your application into, to me by June 1st and then again, we’re going to start that in July and then have our in person, the annual meetup a June, 2020, which will be really, really exciting too.

Dave:                                    45:44                     That’s what we’re going to try to bring for you guys and hopefully we can spark something out of this. All right, fantastic. All right, so without any further ado, I guess we’re going to go ahead and sign us off. That’s going to end our discussion for this evening. So I hope you enjoyed our conversation tonight and if there are any questions you guys have, please obviously let us know and we’re here to help. So without any further ado, I’m gonna go ahead and sign us off. You guys go out there and invest with a margin of safety, emphasis on the safety. Have a great weekend. We’ll talk to y’all next week.

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