Kind: captions
Language: en
it's this time in history that most
people are wasting on the wrong stuff
they're spending it on netflix or
fortnight or going out with their
friends or drinking and if you want to
do that that's fine you know enjoy your
[ __ ] mediocre shitty life but like
there's so much more that you can do
with with knowledge and studying
[Music]
hey everybody welcome to impact theory
our goal with this show and company is
to introduce you to the people and ideas
that will help you actually execute on
your dreams all right today's guest was
a self-made millionaire by the age of 21
after turning twelve thousand dollars in
bar mitzvah money into two million by
trading penny stocks he was named a
trader monthly's top thirty under thirty
and before he'd even graduated college
he had founded his own hedge fund which
went on to become barclay's number one
ranked short bias fund for three
consecutive years his complete and total
transparency he shows every single trade
makes it clear that his rules and
strategies for investing work his
financial returns made him the number
one ranked trader out of 60 000 plus on
covester five years in a row and made
him one of the most sought after pundits
around he's been featured by essentially
every major business and financial media
outlet including the new york times
forbes bloomberg and many
many more he starred in the hit reality
show wall street warriors and in an
attempt to teach others what he's
learned he's written over 8
000 blog posts and posted hundreds and
hundreds
and hundreds of free tutorials online he
has thousands of students from roughly
80 countries and his teachings and
strategies have created many six-figure
earners as well as several millionaires
he's also the creator of both profitly
and
investimonials.com which together have a
collective ecosystem of roughly 150
000 people committed to increasing the
level of transparency and accountability
in the financial sector he's also
written for entrepreneur inc and the
huffington post and additionally he's a
major philanthropist who co-founded
karma gawa which is a non-profit that
has built 51 schools and libraries as
well as helping countless animals and
serving hundreds of thousands of meals
to those in need so please help me in
welcoming the best-selling author of an
american hedge fund timothy sykes
welcome to the show thanks for having me
dude it is very good to have you oh it's
my pleasure i'm way into your notion of
transparency and how much you're going
ham to educate people to be able to do
what you've done and i want to talk
about that education why is it so
important why are you so hardcore about
that particular aspect sure you know i'm
entirely self-taught i learned
everything the hard way on the internet
and i've been successful but it took me
a lot of stupid errors a lot of mistakes
a lot longer than it needed to and now
with the internet with all these
upcoming technologies and tools like
it's easier so i just want to pass that
down to people i want to be the mentor
to people that i never had and then you
know with my charity i want to build
schools because a lot of these countries
a lot of these communities never had any
chance at education so the kids are kind
of condemned to this life of poverty you
know they're unskilled
so we can change that and for 25
sometimes 35 000 sometimes 50 000
uh per community you can build a school
it's pretty crazy in these third world
countries really extraordinary what is
it fundamentally that you think
education gives somebody why is it so
important it gives them a chance you
know i mean success is tough becoming a
millionaire is tough anything that you
want to do that's worth having is tough
but if you have education if you have
guidance if you have a mentor you can
get there quicker without it you're just
fumbling around and you might still get
it but it just takes longer so education
i mean unlocks everything quicker so
walk us through your in high school you
decide you're going to tackle finance
which at least with my mind is about the
most
devastatingly
intimidating arena i can imagine going
into how did you break it down and
really begin to learn where the edges
are and how to really get smart about it
yeah so my parents gave me control of my
bar mitzvah money roughly 12 grand they
thought it would be a good lesson to
give it to me and i would lose it all
and you know that was the way that they
kind of teach
instead i turned it into nearly 2
million before i graduated college
trading low price stocks i didn't know
about low price stocks i didn't say hey
i want to be a penny stock trader you
know this is like the most universally
hated niche in all of finance um but i
started investing in big companies my
account wasn't going anywhere like when
you have a small account you just can't
make that much money like 10 or 20 per
year returns don't matter so i
gravitated towards these lower price
speculative stocks and the internet has
changed things you know the wolf of wall
street made them very famous but he was
pre-internet you couldn't do research on
these companies now you do you know
google street map views like you look at
these company headquarters a lot of them
are scams you can actually make money
betting against scams you can bet on
lower prices you can bet on failure and
if 99 of penny stocks fail and you're
betting on failure then you have a 99
chance of profiting you just have to
find shares to short which is what's so
tough it works for small accounts but
not big accounts so i have made millions
of dollars but there's scalability
issues so then i was like well i'm
teaching something that's very useful
there's still a lot of people who get
scammed by these penny stocks and you
know hopes of like the big next
microsoft which never is
so i teach people how to spot scams how
to profit from short selling them and
then also there's a few good companies
um the cool thing about penny stocks
there's inefficiencies too where
a company might announce big earnings or
a big partnership like thus validating
their little technology and it takes a
few days for wall street to understand
that because no one's following these
companies so there's an inefficiency
with the scams there's an inefficiency
with the good companies and you as an
individual investor or trader can take
advantage of that if you move quick
enough
so going into any new industry and we
recently launched a comic book company
what i like to do to start my education
because frame of reference is everything
right i really i just need to get my
head around what this is who are the
players where are the pitfalls so
what we did was through a mutual friend
ended up getting in contact with the
former head of one of the major comic
book publishing houses and i just said i
want to take the next two days and i
want you to answer one question for me
why am i going to fail and i found that
to be really really instructive not
looking at okay tell me how to succeed
but tell me why i'm going to fail yeah
why are people going to fail in finance
so 90 percent of traders lose money
the whole industry pretty much loses
money the only people that make money
are brokers so i'm training my students
for battle
i'm basically like a drill sergeant i
give them rules i give them lessons i
teach them patterns i teach them exactly
how to spot scams like you can look this
stuff up on the internet the internet
changes everything most people aren't
utilizing it um lack of preparation is a
big thing okay people think oh this is a
good company is a good technology no
that's not how you should look at
companies i had a big 500 000 loss once
upon a time before i really crystallized
my rules i didn't respect them until i
had lost big i didn't understand how
valuable they were i invested in
basically this company that invented
printed home ticketing i was right about
the technology everyone loves printed
home ticketing from airlines to movie
theaters to amusement parks and i was
like oh my god i'm going to make
millions i was right about the
technology i was wrong about the company
the company went bankrupt
you know bad debts so many problems the
ceo who looked me in my eye said that
everything was going to be fine actually
bought the company in bankruptcy later
he sold the company for you know 40 50
million dollars would have made me
several million dollars
but i was wiped out too soon because i
did not know the rules of the game
people don't know the rules they think
that it's just good companies bad
companies good picks bad picks it's not
there's a whole bunch of different
variables and that's what i teach all
right so how do if i'm a newbie in any
field how do i begin to learn the rules
of the game like do you have a strategy
for people of like read this book or
there's a certain set of websites and
blogs they should be reading what's that
look like so i have a website called
traderchecklist.com um it's an 11-hour
guide all free because a lot of people
say oh tim you know you just make your
money from teaching and i'm like all
right here's all this stuff for free
take it and it's actually my least
viewed guide of all even though it's
totally free that's interesting why is
it the least viewed guide broke people
are usually lazy so you know
i i can't make everybody happy so i made
it free to make the broke people happy
broke people don't watch it this is why
most people who start as my students
they start with a few thousand dollars
and they take it seriously when they
take it seriously and they put in hours
and hours of education like learning the
variables so trader checklist i have
seven key variables it's not just oh is
the news good what is the market what is
the market cap what is this stocks
history with spiking i find that if a
stock has spiked big in the past before
it can do it again it's kind of like
muscles have memory stocks have memory
so i'm looking at all this stuff not
just about what is the news what's
happening right now stock market is not
an exact science so i have to teach kind
of like the art and the by the rumors of
the news that's just one of the many
intricacies it's really counterintuitive
there's a lot of stuff that's super
counter-intuitive and i like some of the
rules that you've put in place what are
some of the big rules you've put in
place and how do you
have the discipline to stick to the
rules when you see something exciting
happening and you think oh this time
this time i'm you know so rule number
one is cut losses quickly i've made
millions of dollars but like i said i
had a 500 000 loss you learn real quick
to respect the rules
i didn't know the rules when i had that
big loss i i had been batting a thousand
i never had a big loss before so i
didn't have like my risk management i
inves i was emotionally invested in this
company i was big time financially
invested now i always cut losses quickly
i only invest small amounts that i i'm
willing to lose if the stock starts to
go against me for whatever reason i
don't care how good my analysis was if
it goes against me by five percent i'm
out so i don't let a small mistake turn
into a potential big disaster i lose
roughly 30 35 percent of the time so i'm
not right 100 of time the key is
controlling my losses and discipline is
the number one problem like how do you
stick to those rules take a big loss
you'll hate yourself you'll hate that
feeling you'll never want it again you
learn from your mistakes you learn what
not to do and now rule number one cut
losses quickly rule number two don't use
leverage don't go all in any one trade
can blow you up the key to making
millions is lots of small profits over
and over again my average profit is just
two thousand dollars
so if you had to like distill
why some people win at this and others
don't so you put out all the same
material but obviously you get a slew of
reactions from people that think it's
all a scam to people that swear by it
and it's changed their life
what's the difference in the people that
end up winning with it and the people
that don't so this is an interesting
stat all my millionaire students are
from the midwest and i was like what is
this what is this in the midwest because
the midwest is [ __ ] boring there's
nothing to do so they spend all of their
time studying because there's [ __ ]
nothing to do the weather is terrible
outside usually like they're just
watching like corn go by like little
haystacks but because there's nothing to
do they study harder i have five
thousand plus video lessons they need to
learn every single intricacy so
why is it important and i've heard you
talk a lot about you've got people that
think oh well that craze is over why
would i need to go learn about it and
say no no you really do how's that
beneficial you know in history class you
study the roman empire the egyptian
empire the chinese empire and you see
what they did right and what they did
wrong we don't realize like the egyptian
empire lasted 4 000 years i mean we
haven't had anybody else since then that
have really lasted that long like even
though the egyptians was very long time
ago they used my people i'm jewish as
slaves right so not the best but they
were still long-lasting so there are
lessons from that if i wanted to create
an empire today i would learn from those
egyptians if you want to see what uh you
know the next hot sector is going to be
learn from past hot sectors i don't know
what the next hot sector is people are
like okay tim you teach you have all
these lessons just give me one tip like
what's the stock to invest in what do
you invest in you invest in your
knowledge your potential to be prepared
for the future plays there's always
going to be another hot sector but most
people are unprepared because they
haven't studied the past now do you
think that you're unnaturally good at
figuring out what to learn from the
history lesson
i think that i'm
very hard-working i've learned what
works over now 20 years now
not just from trading but from teaching
i've been teaching now for 10 years so
i'm always adapting i'm always trying
new stuff i had no idea that my
millionaire students would be from the
midwest um i have a lot of millionaire
students who are named tim like these
these random things keep happening i
don't plan them it would be a lot easier
like when we're in the chat room and
there's five tim's trying to talk and
and it's confusing i'm like why why did
it work out this way
for me all i can do is try to adapt and
learn from my own experiences and then
pass them down to others i am very good
at being transparent
and not caring what other people think i
think that that's helped i've been on a
few reality shows i look like a [ __ ]
jackass every time whether it's my own
bad jokes or the editing or a
combination of the two
but it gets people's attention and it
gets people studying which is the key to
success you know the more hours you put
in i think too many people focus on
strategies where they're never going to
get rich like if you're an uber driver
you're working hourly like there's only
so many hours per day like a lot of
people
waste too much time on these strategies
that have no exponential growth with me
the way that i teach the same exact
trade where you might buy a hundred
shares in the beginning and you should
start small when you're trying to trade
stocks you could do that exact same
trade two three five years later with a
thousand shares or ten thousand shares
and it's the same trade where you're
trying to make ten or twenty maybe
thirty percent on your trade but you can
take a bigger position and that way i'm
teaching skills that have exponential
income growth later on and that's what
kind of is the key to my success
understanding that success takes time
and breaking it down and you know
chopping it up into little bite-sized
pieces so that people when they are
starting they can understand it how do
you think self-awareness plays into all
this you guys talked about um you were
talking to one of your millionaires and
i found this really interesting and he
was saying that you guys actually take
divergent paths you're very comfortable
shorting things he wasn't comfortable
shorting things it just didn't fit his
personality not that personality what
does that have to do with it yeah so
there's a whole bunch of patterns um if
i broke everything down there's probably
20 key patterns that between me and all
my top students utilize it's based on
our personality
some of us like to short sale some of us
like to bet against stocks you know i
made my second million betting against
stocks i made my first million going
long you have to adapt to the market you
have to adapt to what you're comfortable
with i have a lot of people who like to
trade against me i have a instagram
story right now where one of my students
just made 6 500 and he's thanking me on
instagram and i was like you know what
thank you but thank my haters even more
because without my haters i would never
work this hard like i had so many haters
and so many doubters saying like you
can't trade penny stocks you can't
create a millionaire and i'm like
[ __ ] watch me and all of that hate
all of that doubt makes me work these 16
18 20 hour days pretty much every single
day because i want to prove them wrong
so i'm very grateful for them if i had
no haters or doubters you know i was
already rich before i got started
teaching i would life was boring you
know now i have a mission
what is the mission to teach and you
know to change people's lives um and now
with charity i mean this whole logo that
i'm wearing this is karma gala this is
my new charity foundation so karma gala
there's no eye in it because it's not
about me it's the community and now we
have you know over 50 schools we support
animal shelters and medical clinics and
i'm actually going back down to africa
in a few weeks we have this great
charity called vet paw there's a lot of
stuff that i want to do educationally
wise and then you know now charity wise
giving back because frankly i have a
very good life i mean you don't need
more than a few million dollars in your
bank account i gave a tedx talk how i'll
never be a billionaire i know a few
billionaires they're [ __ ] miserable
they're unhappy they're in prisons of
their own wealth i don't want that so if
i make a billion dollars i'll be
donating you know 980 million so walk me
through how do you become a prisoner of
your own wealth yeah and then once we're
clear on that how do you not become a
prisoner of your own sure um i think
that a lot of billionaires um obviously
they're very successful in business
they've worked very hard a lot of them
have earned it some have had inherited
it but everyone knows that they have a
lot of money and when you have that i
mean i i'm not a billionaire i only have
a few million dollars i'm perfectly okay
with admitting that but i i have given a
lot of interviews talking about my
millions of dollars like if you look at
my instagram it's all money money money
money because i find that inspires
students to study harder if i post a
picture of my lamborghini
the views go up the length of time that
people study these technical video
lessons goes up when i show off my
lamborghini i've shown up like a million
dollars in cash before on instagram and
the billionaires that i know they might
not boast about it but everyone knows
that they're wealthy so they need
security they can't really trust anybody
that they meet like you know they have a
normal conversation but the people who
are talking to them they're not really
saying what they really think they just
want to utilize the billionaire's money
or time or connection somehow i think
that money serves a lot of purposes but
too much of it can be detrimental i know
like the social network fantastic movie
very entertaining but they made the
notion that you know a million dollars
isn't cool a billion dollars is cool
[ __ ] that a billion dollars sucks if you
have a billion dollars in your bank
account you're wasting all of that
opportunity do you know how many people
in schools and animals all over the
world that could benefit from your
billion dollars and you're just a
selfish prick
that's the truth you know i think that
there's a lot that you can do with money
and a lot of rich people don't do it i
don't have a lot of rich friends you can
tell i make some bad jokes
so now tell me what is the
the way around that to not be caught in
that trap to do something i don't wanna
put words in your mouth no i mean i
think that you have to get out there and
see what you can do i mean i never
intended on creating a whole charity
company or you know building all these
schools my goal is now to build a
thousand schools i never started this
way going to third world countries opens
your eyes i mean when i was in laos i
had two schools open there with a great
charity called pencils of promise i've
donated two million dollars to pencils
of promise so far gonna keep donating
more because i love what they're doing
they build schools all over the world
but when i was in laos at one of my
school openings this one little child
came up to me and hugged me and you know
the the children don't have much they
have like nothing so it was a very small
child and she hugged my like leg and i
was like oh my god this is so cute and
that was an amazing feeling but then i
looked down on the ground she didn't
have sneakers on in the ground i mean
laos i don't know if you've seen it it's
very jagged rocks like the ground is hot
it's rocky and so she was not barefoot
she had taped or her parents had taped a
plastic water bottle to her feet that
acted as shoes and it just blew my mind
thinking like you know we have these
shoes we have so much and this child was
so happy so grateful for the chance at
education we go you know in the
communities that have nothing
so you need a different perspective and
charity and travel has given me that do
you read a lot like outside of studying
for the history lessons in finance i
never knew i was going to become a
teacher right i always thought i was
going to be on wall street i was going
to be a mutual fund manager hedge fund
manager so i read about 2 000 books
for me i've always found hot stocks but
i have problems when there's no hot
stocks and i have itchy fingers like i
want to trade like i'm i'm a degenerate
addict too so i've always had to find
something else to do so i've read a lot
of books uh imdb on you know for movies
has a list of the top 250 movies i watch
them all i need something to fulfill my
mind now it's traveling in charity
there's so much information on the
internet right now like you don't need
old sources anymore everyone's like oh
what do you need to do like
just pay attention to what's going on
the internet is the most amazing tool
that we've had literally in centuries
probably since the printing press like
500 years ago and there's so much
opportunity whether you're reading blogs
or listening to podcasts or videos just
consume it and kind of wander like i
love doing that i love just going to
like youtube clicking one video and then
you know seeing oh that this came up let
me let me research that so i just want
to learn everything and it's it's
amazing
time to learn
it's really interesting i want to go
back to what you were saying about
travel so
um if somebody has never traveled before
they've never left the midwest let's
bring those guys back in
uh they've never left the midwest what
would you encourage them to do and what
sort of agenda would you give them if
you wanted them to have the sort of
maximum transformational experience yeah
again you can prepare on the internet
you can see photos and videos instagram
is a great visual place a lot of people
message me being like oh my god tim
thank you for sharing this photo or this
video now i have you know something on
my you know goals and like dream boards
and you have all this stuff
vision boards right and they put this up
and they print out like my photos or
videos so
use the internet and
see what stirs you up what's something
about money that you think would really
surprise people i mean there's good and
bad most people are like oh it's easy
for you to judge you have a lot of money
but i've been you know never totally
poor but i grew up middle class so i
didn't have that much like we never
traveled anywhere so for me
i always wanted to be rich but now that
i've gotten there
there's some strings like no one really
teaches you how to like be rich like you
know i've lived in mansions i lived in
penthouses i've have all the expensive
cars like the cars like i always wanted
a lamborghini right i got a lemonade and
now i have two lamborghinis like the
high
disappears you need more meaning in your
life and i think that a lot of rich
people are actually depressed which
people don't realize they're like oh
look at this rich guy he has all this
money he's depressed what's wrong with
him i would give anything to be like
that but they put their the wrong
emphasis on the wrong syllable right
like they they didn't understand there's
more to life than money or toys or all
this stuff like you have to find meaning
and for me and a lot of people like you
know you're on this journey like i want
to be successful i want to be rich
that's what i want but what about when
you get there you don't have a plan for
that so now i'm trying to teach you know
all about charity and giving back in the
lessons that i've learned now from being
rich for several years and it's not what
you might think there's a lot of stuff
that comes with being rich and you don't
realize it and you know that's life like
the cool thing about traveling to these
third world countries is that these
people have nothing and yet they're
still happy they're grateful to be alive
they're just grateful for every single
day that they have even though they have
absolutely nothing think about the
people in our country a lot of people
who have a lot of something right they
might not be millionaires but they have
a lot in life and they're still not
grateful so i think we can change
perspectives and we can change people's
mindsets just by sharing stuff like this
do you have an active gratitude practice
no for me i just live a life of
gratitude like i'm so grateful i jump
out of bed every single day i'm grateful
for every day i'm grateful for this
opportunity i'm grateful for this
opportunity to share my crazy story with
you and your your viewers and your
audience i'm grateful for all my
students who are willing to learn from
me um
i just recognize this as the most unique
time in history it's this time in
history that most people are wasting on
the wrong stuff they're spending it on
netflix or fortnight or going out with
their friends or drinking and if you
want to do that that's fine you know
enjoy your [ __ ] mediocre shitty life
but like there's so much more that you
can do
with with knowledge and studying you
asked me this 10 years ago i've been
like go [ __ ] yourself like there's no
way right like i'm a trader i want to be
a hedge fund i love my lamborghini like
i had a very different mindset but i
was open-minded enough to try it i was a
philosophy major right i wasn't even a
finance major i was a finance minor i
was already studying on my own i didn't
feel the need to like major in that so
philosophy helps me understand that you
know the smartest man is the man who
knows that he knows nothing right so i'm
okay with being open i'm like oh let me
try that let me try that if you ever go
out to eat with me i order the whole
[ __ ] menu right this is probably why
i've gotten fat before but i want to try
everything i don't want to you know miss
out on what might be the perfect dish
so be open-minded and try everything and
see what you know feels good you've
talked about not living in the bs
you've talked about how sometimes you
have to be cruel to be kind
what do you mean by not living in the bs
and how does that like ultra direct
aggressive speech serve people yeah um i
mean as a teacher i need to snap people
out of a lot of their bad habits i teach
stock trading i teach degenerate [ __ ]
addicts how not to be addicts anymore
like i'm going
because they're gambling correct correct
it's like me going to the [ __ ] casino
and being like stop playing blackjack
stop [ __ ] you know pushing the little
machine for the slot machine
i see
a lot of people with bad habits i see a
lot of um
people who they're not bad people but
they've fallen prey to their greed um
and to to just you know bad stuff and i
need to change that so let's go back to
failure sure so how is failure a
powerful thing and how did you deal with
it when you said you lost your
credibility you you were down 30 35 yeah
um how did you deal with that how i
sound like you went through a pretty
dark period yeah i drank a lot um
a lot so for me the losses were bad um
the drinking was bad it wasn't did it
hit your ego is that what
um
no it yeah yeah it hurt it hurt my ego
but it hurt my business it hurt um how
people treated me i mean i was on this
reality tv show of course we were
filming a tv show as this was happening
so i was just drunk in every episode um
seriously you can watch wall street
warrior season what was i season one um
i i was drunk what can i say but
i think that when you go through those
dark periods and when you have those
losses as i tell my students who have
big losses a lot of students have big
losses before they find me or they even
have them when they break my rule number
one they say ah screw sykes i'm not
gonna follow rule number one i know
better and they have a big loss you
learn what not to do you learn how bad
it feels and you don't know that bad
feeling until you have it so i can tell
you all about the bad feeling but you
have to experience it and then how do
you overcome it you can take it two ways
right you could just let it destroy you
and say oh life is terrible i quit i
give up or you use it to make you better
i'll tell you no millionaire trader no
top student of mine has ever not had a
big loss
every single top trader that i know has
had at least one sometimes several and
they've used it to mold them and get
better
and that's what i think you have to do
when you make a mistake it's a part of
life it's part of the journey i give a
speech at harvard and i said you know
you have to appreciate the lows you have
to respect the lows celebrate the highs
but respect the lows don't block them
out don't ignore them and so for me
sharing everything transparently online
it's not just a good business practice
it's actually really good for me as a
trader i haven't had many big losses
lately because i have to share
everything with all my students i don't
want to look like a jackass so i
practice good habits unwittingly because
i'm fully transparent that's why i think
it's very good to share all your stuff
online especially in the stock market so
as you're going through that hard time
were you using self-talk or anything
like how did you get to the point now
where you're looking at the losses as a
teaching mechanism
so i mean for me it was it was better to
have success in the big loss
a lot of people don't have success and
they just have big losses and they don't
know how to get back up because they
they were never up for me i had a
successful strategy i just had not honed
in on the rules when i lost 500 000 it
wasn't because i was you know such a bad
person it's because i didn't respect the
rules rule number one was cut losses
quickly how did i develop rule number
one because of the big loss so you have
to
learn what not to do but you also have
to always be looking for success and
sometimes it takes a year two years five
years like my top student has made seven
million he made nothing his first nine
months think about that can you partake
seriously be obsessed with a subject
that makes you money and make no money
for nine months most people would give
up
right if that's this is my best student
so if my best student takes nine months
most people are gonna take 12 16 maybe
24 maybe 36 months before they
understand it my newest six figure
student michael hudson just graduated
college he made nothing his first two
and a half years now in year three
something is clicked and now he's making
five thousand dollars a day i'm like how
do we get this sooner how do we get this
sooner and he didn't know like he took
all these meticulous notes i think you
just need to realize that life you know
works in mysterious ways but it's also
like a roller coaster and you have to
try to use the lows when you're you know
in them and you remember that like don't
don't forget about it all right before i
ask my last question tell these guys
where they can find you online
timothysykes.com just google timothy
sykes um on twitter instagram youtube
i'm all over the place like i'm not in
this for more students like people are
like if you were just nicer and less
weird like you would have more students
and i'm like but i i like saying these
jokes like i i like you know having fun
with this and i'm not in this for more
students like everyone else they're like
oh like you need to promote this you
need to promote that like i find that
when i just do original work when i just
and myself people gravitate towards me
and if someone really is going to be a
good student like they're going to need
to be so dedicated like if someone is
like oh he swears or he has a grammar
problem or i mean there's a million
criticisms that i've seen and i'm just
like these are such meaningless
criticisms like in order to be
successful i think this is the biggest
thing you have to be so dedicated to
your craft and so passionate about it
and so
single-minded focused on that you know
task and most people just don't take it
that seriously they're like yeah i want
to be a millionaire yeah like i meet
people and they're like oh you're that
millionaire and like a smile comes on
their face like oh how do i become a
millionaire but they don't really
believe it they're not asking seriously
they don't
they're not willing to put in the
thousands of hours required and again
like with my teachings i think i can
speed up the journey but it's still
going to be thousands of hours like
there's no magic formula this isn't like
get rich quick and those people who do
get rich like the lotto winners like
they're [ __ ] up because they didn't
earn it they don't they don't appreciate
it they don't understand it
i think that going through
the ups and the downs is what makes you
appreciate everything more so i wouldn't
change anything like people ask me like
oh would you get rid of like your losses
i'd be like no like i would be an
incomplete trader i would be an
incomplete teacher i'd be an incomplete
human if i didn't have my losses and
screw-ups they've helped mold me for
better or worse it's interesting i was
with you
but give me clarity on why you'd be a
less complete human if you didn't have
your losses
because again i would not have the
proper mindset or perspective of what is
reality i've already lived a very good
life if i died tomorrow i'd be very
happy still with what i did with my time
but i want to experience everything and
i'm grateful now for my losses i'm
grateful for my mistakes and i'm
proudest not of my own personal
achievements but what my achievements
and what my lessons can do to influence
others
so i'm happy that's amazing man
all right my last question
what is the impact that you want to have
on the world i think that
you know i've had so much experience in
the stock market and i hope that i can
share lessons from it
but i hope that i can also just transfer
all of everything that i've learned and
all these experiences into my students
and into you know other charities and
help other charities grow i really think
the world can change with education
so i want to build as many schools as
possible and i want to help as many
students as possible in any way
that i can not just in terms of money
but in terms of just sharing experiences
and if my top students
you know upcoming students and the
children of my students can then become
transparent and share their own
experiences on social media and with
others like it creates this whole trend
um it's pretty amazing to think about
the influence that one person anybody
watching this can have just with social
media this wasn't available but now we
have so many little mini pieces of
content and any one of them can touch
any one person or any one of them can
touch a hundred people or a thousand
people and make them think a little
differently maybe act a little
differently and you know give more i
think that the charity world needs
so much more discussion and so much more
exposure i think talking about money and
becoming a millionaire and what it's
like to be a millionaire needs so much
more discussion and there's no one right
way to be a millionaire but once you
start talking about it online and then
other people react and it creates this
whole conversation and that's how things
get changed you know
from different people's perspectives i
love that man yeah awesome well thank
you so much for coming on the show that
was incredible
all right guys when you dive into his
world one thing you're gonna see above
all else is a level of transparency and
accountability and i really love that
it's somebody not afraid to call people
out in the industry if he thinks that
they're not doing the right things if he
thinks that they're doing something that
is scammy he's going to call it out and
in that particular industry it's really
pretty incredible to
put everything out there it is so hard
to be right consistently over time to
show his losses to talk through his
losses to to literally show every single
trade he makes when he wins when he
loses and it's really pretty
extraordinary and it's also somebody who
has realized that money can't buy
happiness i know that's something i've
talked a lot about and to see him find
himself in philanthropy and doing that
and really giving and creating the
charity it's really been pretty
extraordinary to watch his journey he's
been living out loud for a long time so
you can go back and really sort of see
the evolution it's pretty extraordinary
and i think that you guys will get a lot
out of it so i highly encourage you to
dive in and check it out and then he's
also got just a metric ton of highly
actionable advice so if you are
interested in learning about trading
he's got just a massive amount of
content around that so check that out
all right guys if you haven't already be
sure to subscribe and until next time my
friends be legendary take care
thank you
everybody thank you so much for watching
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