The Don of Stocks

Never risk losing what you need for what you simply desire It isn’t worth taking the 300k you saved up and throwing it into a crypto coin to try to 10x it and move to a new condo That is how most people lose everything They bet the farm foolishly just hoping they can hit it

Alex Hormozi used to drive 45 mins from his childhood home to the rich area near him He would do this to be around the mansions and get a taste of the wealthy life He said this played a pivotal role in his desire to work hard and become wealthy Osmosis is real..

For every company like Carvana that is a successful turnaround There are thousands that never recover IE.. Peloton.. Skillz.. Beyond Meat.. etc Buffett said he doesn’t invest in turn arounds and I get it The odds are so against you.. it’s a gamble with bad odds

It’s one big game of attrition Can you stay in the game for 20-30 years and avoid getting wiped?? Can you go through 2-3 recessions? Can you go through business partnerships that end in calamity? It’s a game of endurance and staying in the game longer than your opponents..

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Most ‘exits’ aren’t what they seem You see the headline ‘X business sold for $45million’ Then you dive deep and you realize $5 million was cash upfront The rest only comes via ‘earn out’ and the terms are almost impossible to reach $45mill ostensible exit is $8mill pre tax

The ability to endure bullshit is what separates the winners and losers The higher tolerance you have for pain The easier it’ll be to get rich It’s a constant oscillation between good times and bad times and most people can’t endure through the bad times That’s the separator

Business that no one knows make people wealthy - pre schools - pvc industrial - trivia apps - mobile dog training - pawn shops I’ve met people who live in $10mill+ homes from each of these industries

Big difference between making $1mill a year in active income versus passive income Making $1,000,000 a year from dividends is a completely different life Versus the person Making $1,000,000 a year as an executive at a company Portfolio income is the true goal

Train yourself to do all the shit you hate doing so it becomes subconscious Don’t wanna respond to emails right now.. do it anyway Don’t wanna workout.. do it anyway Don’t wanna check your bank statements to make sure all is in check.. do it anyway Do the shit you don’t wanna

People see a company like Nvidia and don’t realize They have 30,000 employees Half of which are worth over $25mill They got 15,000 people running around w $25mill worth of Nvidia stock The money in big tech is truly astounding Google.. Nvidia.. Meta.. etc Tech $$ is diff

Most of your business problems aren’t business problems They’re personal problems that traverse into your business Lack of sleep Toxic relationships Unhealthy diet You must keep your personal life in tact If you wanna be able to work productively & make judicious decisions

$10mill is the new $1mill To truly be financially set You gotta have $10,000,000 liquid sitting in a stock account or cash / cash equivalents People wanna overcomplicate it but it’s true Once you have $10mill liquid you can earn $300k -$500k a year passively and live off it

The people who get to the real money always give more than they take With every relationship I build I always just think about being a good dude and asking for nothing in return Down the line when you do that people come to you w opportunities Stay top of mind for ppl

There’s people who will never scale to real money because they don’t know how to entrust people and delegate It’s the demarcation between the pizzeria who makes his own pies and makes $150k a year And John Schnatter founder of Papa Johns

The hassle is always where the big $$ is The saying is indeed true If it was easy everyone would do it Nobody wants to hire and fire for 6 months to find the right team Nobody wants to give incentives that eat into their margin People want the easy path Easy path=Hard life

Franchise car dealerships are the way to wealth Anytime you drive past a Toyota dealer.. a Chevy dealer.. or any franchise car dealer Just know.. the owner of that dealer is living in a mansion & likely has vacation homes and a pj There’s no business like franchise car dealers

There’s no such thing as MOAT The only MOAT in business is hard work and execution The day you lift your arm in triumph and act like you have a MOAT Is the day you head towards your own demise Business is ever changing and it’s the people who continue to adapt who win

People claim memorizing things isn’t a proxy of intelligence but I would disagree Pattern recognition is extremely salutary in business and in life Being able to apply quotes or facts to real life situations via pattern recognition is a form of intellectual prowess

To make $100,000 a year passively You realistically need about $2mill Off $2mill if you buy dividend stocks / treasuries You will earn about 5% passively which comes out to $100k a year Real estate isn’t passive E-commerce isn’t passive ATM’s aren’t passive Dividends are