Wealth Formula Podcast

293: Lessons Learned from the Greatest Investors in History with William Green!


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Asset prices are booming. We have more than doubled price per door costs on acquisitions made in some markets just two years ago. That's just what our investor club has seen in real estate. To look at rising asset prices on steroids, just look to the crypto markets. A guy who works out at the place I work out bought $400K of gala token under 1 cent and is now sitting on a couple hundred million bucks. When you see that kind of stuff, it's hard not to get FOMO. To be clear, I still truly believe we have significant runway in real estate given the level of inflation we have seen and pure supply and demand issues in the markets we invest in. However, as a general rule, it is wise to remember Sir John Templeton's four most dangerous words in the investment world, "This time it's different". On this point, I go back to cryptocurrency as it seems to teach lessons at a pace magnitudes faster than other markets. In the winter of 2017, it looked like anyone could get rich on crypto and you would be foolish not to buy. Later that year, we were deep in crypto winter. As we have seen, however, the reports of cryptocurrency's death was, as at one time Mark Twain's death was, greatly exaggerated. When people should have been buying like crazy, they were scared away thinking this was the final knockout punch to bitcoin (which had been served several knockout punches already). Now, at the top of the crypto market or possibly somewhere near, I hear myself once again telling myself that this time, it might be different. It may be a runaway train. I'm not saying I have the answers to what happens next. However, I do think it is critically important to examine the thoughts you have on a daily basis with regard to investing. This is personal finance. You shouldn't be listening to me or anyone else to tell you what you should do. You should be listening to us to help you make sure that you are thinking. You want to have lots of opinions to consider. And, it is particularly helpful to hear the voices of those individuals that have extraordinary success in this arena. William Green is a financial author that has spent most of his life talking to and writing about the greatest investors of our lifetimes and has written a book about what he's learned from that process. And this week, he was kind enough to join me for an interview on Wealth Formula Podcast to share some of that wisdom. DO NOT MISS THIS EPISODE!!!
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Wealth Formula PodcastBy Buck Joffrey

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