Info

The Top Entrepreneurs in Money, Marketing, Business and Life

Over 10M founders, CEO's, and investors have downloaded this 15 minute daily podcast from Nathan Latka. Each day Latka interviews a software (SaaS) CEO and gets them to share how they've grown (or not) so fast all backed by hard data points. To date, over 1000 CEO's have been interviewed that together do over $6b in revenue, have raised over $5b, and employ more than 180,000 employees. The magazine for CEO's: http://nathanlatka.com/magazine The Book for CEO's: http://nathanlatka.com/bookamazon
RSS Feed Subscribe in Apple Podcasts
The Top Entrepreneurs in Money, Marketing, Business and Life
2019
April
March
February
January


2018
December
November
October
September
August
July
June
May
April
March
February
January


2017
December
November
October
September
August
July
June
May
April
March
February
January


2016
December
November
October
September
August
July
June
May
April
March
February
January


2015
December
November
October


Categories

All Episodes
Archives
Categories
Now displaying: Page 1
Feb 16, 2017

Phil Town. He’s a two-time New York Times’ best-selling author, hedge fund manager, and founder of Rule One Investing. He’s teaching individuals how to take control of their financial futures so they don’t have to find a fund manager or financial advisors.

Famous Five:

  • Favorite Book? – Intelligent Investor
  • What CEO do you follow? –  Warren Buffett
  • Favorite online tool? — Evernote
  • Do you get 8 hours of sleep?— Yes
  • If you could let your 20-year old self, know one thing, what would it be? – That USA will put us in a war and it will suck

 

Time Stamped Show Notes:

  • 01:30 – Nathan introduces Phil  to the show
  • 02:00 – What makes you qualified to talk about this?
    • 02:08 – “By New York Wall Street standards,  I’m completely unqualified”
  • 02:23 – Most people invest using the concept of modern portfolio theory
  • 02:50 – There are people who Phil follows for 30 years now
    • 02:58 – Ben Graham developed the ideas and values of investing in the 30s and 40s
    • 03:12 – Warren Buffett and Charlie Munger
  • 03:41 – Phil has a principle of picking good companies while they’re on sale
  • 03:55 – Phil learned to use other people’s money to build up their funds
  • 04:22 – How much outside capital have you raised in your hedge fund to date?
    • 04:32 – Under a hundred million
    • 04:40 – Phil started to manage money through separate, managed accounts
    • 04:58 – Phil can manage other people’s money that don’t have the investing capital for hedge fund
  • 05:53 – The people who needed their accounts to be managed the most are getting the least attention
  • 06:10 – How do you beat a company like Wealth Front
    • 06:24 – Wealth Front is run by modern portfolio theory math
      • 06:58 – “It’s such nonsense and yet, it’s the only math there is”
    • 06:57 – A robo-advisor pretends that they can use volatility as a reference point for risk
    • 08:10 – People need to know how to invest on  their own
  • 08:23 – Phil mentions the three things that he believes someone should do if they don’t want to be an active investor
    • 09:19 – Find a financial advisor who knows what they’re doing
  • 09:30 – The gap Phil wants to fill
  • 09:56 – “An active fund cannot be the index”
  • 11:05 – If you’re not going to learn how to invest, you’ll have fewer choices
  • 11:43 – It is simple to invest correctly
  • 12:00 – It’s not true that there are losers and winners in investing
  • 12:46 – “Investing is simply buying something that you understand for less than its worth”
  • 13:20 – Phil started with real estate
  • 14:02 – Warren Buffet is one of the best real estate investors
  • 15:02 – Phil shares the essence of a good investment
  • 16:05 – The essence of speculation or trading
  • 16:40 – Nathan asks Phil for his opinion regarding Bill Ackman’s Chipotle Mexican Grill
    • 17:21 – Chipotle Mexican Grill has no leverage
  • 18:40 – The one rule Phil applies to all different investment strategies is don’t lose money
    • 18:55 – Rule 2 is to remember rule 1
  • 19:15 – Phil’s 4-rule process
    • 19:18 – First, am I capable of understanding this business?
    • 19:22 – Second, does this business have protective characteristics that keeps competition a leg?
    • 19:33 – Third, is this owned by people with integrity?
    • 19:36 – Fourth, am I buying this at a big discount to its value?
  • 20:35 – How do you handle imperfect planning?
    • 21:13 – You have to have a big discount on the value that you’re purchasing
  • 22:48 – Phil’s first book came out in 2005, second in 2010, and another one in 2018
  • 24:55 – The Famous Five

 

3 Key Points:

  • People need to know how to invest on their own—if you’re not going to learn how to invest, you’ll have fewer choices.
  • There is a difference between a good investment and speculation.
  • Investing is simply buying something that you understand for less than its worth.

 

Resources Mentioned:

  • Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments
  • Drip – Nathan uses Drip’s email automation platform and visual campaign builder to build his sales funnel
  • Toptal – Nathan found his development team using Toptal for his new business Send Later. He was able to keep 100% equity and didn’t have to hire a co-founder due to the quality of Toptal
  • Host Gator – The site Nathan uses to buy his domain names and hosting for the cheapest price possible.
  • Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books.
  • The Top Inbox  – The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
  • Jamf – Jamf helped Nathan keep his Macbook Air 11” secure even when he left it in the airplane’s back seat pocket
  • Freshbooks – Nathan doesn’t waste time so he uses Freshbooks to send out invoices and collect his money. Get your free month NOW
  • Show Notes provided by Mallard Creatives
0 Comments
Adding comments is not available at this time.