Warren Buffett‘s Stock Market Investing Mindset is one we can learn so much from. I use Buffett’s Coca Cola story to give a few examples on investing patience and knowledge.
Good day fellow investors. A few days ago we discussed compounding as one of the most powerful forces when it comes to investing as with Buffett say just let the earnings the interest dividends compound and you will do extremely well today. I want to continue on this Buffett mindset investing mentality. Buffett’s investing mindset by discussing patience and discipline and discussing the whole example of Buffett and his ventures with Coca-Cola in a future video I’ll discuss. I have already prepared 15 to 20 Buffett’s mistakes so be sure to subscribe to get the whole complete. Buffett’s investing mindset series. And what’s that. Because it’s all about mindset. It’s all about character right.
And what do you consider the most important quality for an investment manager. It’s a temperamental quality not an intellectual quality. You don’t need tons of IQ in this business.
I mean you have to have enough IQ to get from here to downtown Omaha. But what you do not have to be able to play three dimensional chess or be in the top leagues in terms of Bridgepoint or something of a sort. You need a stable personality you need a temperament that neither derives great pleasure from being with the crowd or against the crowd because this is not a business where you take polls it’s a business where you think. And Ben Graham would say that you’re not right or wrong because a thousand people agree with you and you’re not right or wrong because a thousand people disagree with you you’re right because your facts and your reasoning are right.
Now let’s talk about this character by discussing the story of Buffett and Coca-Cola. This story is very intriguing and interesting because the story of Buffett and Coca-Cola started when he was 7 years old. But why is unclear. Buffett told the story again. Picture Omaha in 1937 I was 7 years old and.
No air conditioning so the summers were hot and humid. People went out on their lawns at night just to try and cool off and I got the idea that maybe I could sell them what you would call soft drinks and we called Pop. So I went round to a bunch of gas stations and in those days every gas station had a cooler. With very soft drinks. And it had a little open around the side and something to catch all the bottle caps. So I went around and collected all the bottle caps for weeks these various gas stations I like to eight thousand of them. And then I sort of them all out. And I saw that there were Coca-Cola overwhelmed everybody else. So I decided to hook myself up to them. And. There were these little silver like ones that in those days and my grandfather at a grocery store so I went to my grandfather and I said. How about giving me a deal on coke so I can sell around the neighborhood. And he saw me at the rate of six bottles for a quarter and I went around and sold it for a nickel each and I sold out every time. And I had no inventory I had no receivables. I had the best business I ever had.
But I made one mistake and I didn’t put the money I saved in the Coca-Cola stock.
But I rectified that mistake some years later.
So that some years later is exactly 50 years later. Buffett waited for 50 years to buy a company. He always liked and why Buffett didn’t buy earlier is a very important question. But this the answer shows the discipline and the patience. Buffett had to watch something for 50 years and not watch it but then buy big. More about the story about Coca-Cola and everything else. Buffett has been doing. You can read in The Snowball, Warren Buffett’s biography out autobiography biography almost.
How Big Real Estate Moguls Avoid Taxes (And How You Can, Too) 👀
I was looking around Google for an old article on tax strategies and this five-year old video of myself happened to pop up.
I’m interviewing a tax expert about how real estate investors avoid paying taxes in perpetuity—AND how everyday citizens can do the same thing.
There’s the 1031 exchange, of course, which I’ve shared with you guys before.
Just to refresh your memory, the 1031 Exchange allows you to roll over gains from your last project into a new property TAX FREE—as long as said property is worth the same or more.
But there’s ANOTHER TAX LOOPHOLE that can take your portfolio to an entirely new level by splitting your capital gains into MULTIPLE properties.
So I thought I’d share it with you guys. 💎
You can check it out here.
Let me know what you think. 😎
PS: In our next update, I’m going to break down how real estate moguls get paid from their properties…tax free. 👀
PPS: If you want to learn how to implement generational wealth strategies like this one, you can join our NYCE wealth academy (TRIBE U) here.
How I run a $300M+ business from the beach…(and how you can TOO!)
Yes, you read that right.
If there’s anything the pandemic taught us, it’s that the paradigm of “office” and “workspace” has been shaken to its CORE.
Universities are teaching via Zoom, court dates are done virtually, FULLY REMOTE businesses are valued at $1B+, and legitimate Inc. 5000 startups are run from…wherever. 📲
This is my office for the day…
I am actually running our business from the beach, typing this from here.
It’s 4:28 pm CET, which means it’s 10:28 am EST and I am CRUSHING my to-do list.
(And the team will continue to crush it while I’m asleep. That’s the 🗝)
So how did we get here?
As a result, we shut down our main office and set EVERYTHING up to run remotely…
SMOOTHLY! And a system that allows us to outperform competition by 200%. (You can build this system, too. More on this in a second.)
Here’s what we were able to do since then:
- Gained 6M+ followers across all platforms 📈
- Add 1500+ new apartments to the portfolio 🤑
- Grow to $300M in real estate 🚀
- 105% investor returns 🎉
- 700K+ community members 🤝
And here’s the best part…
Having team members in all the main time zones gives us a 24-hour work cycle vs. 9-5/eight-hour on-the-clock performance.
This means we get 3x the productivity of a similar company. 🔥
Let me repeat that…3x PRODUCTIVITY vs. our competitors.
Meanwhile our project management software grants us 24-hour TEAM-WIDE connectivity that tracks all tasks and lets us know if productivity dips even a little bit.
There is ALWAYS someone senior awake. It could be Martin in Barcelona…Nat in New York…Vineet & Arif in New Delhi.
All the while giving YOU GUYS wealth hacks and daily content. 🔥
OK, so how can you do it?!
Well, the first step is to have an actual side hustle you’re launching. Not just an idea, a validated business.
MAJOR KEY: Do NOT spend money until you’ve made your FIRST DOLLAR! 🗝🗝🗝🗝
(You can catch a replay Business Launch masterclass here and see TRIBE member Nessa launched her business on the spot and got her first $45K client shortly after.)
One of the easiest ways to start is with Airbnb—you can start that in 10 minutes. Literally. (Here’s a guide if you need it.)
Once you have your business, you build a virtual infrastructure (you really just need two softwares, which are FREE), manage the team accordingly and run the business from there.
I’m gonna put together a step-by-step video breakdown this weekend inside the new TRIBE U on the FIVE key things you need to do this for YOURSELF. 💵 💎
From what software to use, how to build a team, how to keep.
In the meantime, drop a comment if you’re ready to build some wealth and any questions if you want more…
Let’s get to work. 🙌
NYCE CEO: Apps Like Robinhood Have A Responsibility To Their Young Investors
Investor and popular Instagram influencer Philip Michael says new fintechs need to take greater responsibility for their younger traders.
“Promoting financial literacy is a must, but encouraging risky gambling is reckless,” Philip Michael, NYCE CEO, says.
In 2020, a 20-year-old Robinhood trader killed himself after engaging in risky options trading and seeing his balance $730,000 in the red, leading to a wrongful death lawsuit against the investment app.
“The main apps onboard as many new users as humanly possible, but there’s really no educational process,” Michael says, “and these first-time investors are left to figure things out on their own.”
NYCE—a fintech focused on creating wealth for minorities—wants to create 100,000 millionaires through real estate investments and wealth education.
Through its app, investors can own shares in apartment complexes for as little as $100.
Since launching, NYCE has set records for most new first-time BIPOC real estate owners, buying over 1500 apartments in the pandemic and splitting ownership with its investor crowd.
Once investors are in, NYCE automatically enrolls investors in an online wealth academy (TRIBE) that teaches basic wealth principles, responsible investing and how to spot irregular fads like altcoins and meme stocks.
“Becoming a millionaire is a function of time and habit, not luck and one-time scores,” Michael says. “The micro-investments are really just the gateway drug to that wealth mindset.”