Episode 05: Best Investing Advice pt. 2 - Swensen, Kiyosaki & Cramer. Learn 1 amazing tip from each  G.O.A.T. investor. David Swensen, Robert Kiyosaki & Jim Cramer.

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Transcript:

Hey, what's up, everybody? I'm Mike Germinario and it is my mission to show you how to build an indestructible, automatic, investing machine, working for you 24/7, so you can have the life you dream about.

 In today’s show I’m going to share some of the best investing advice I ever heard. And this advice didn’t come from a fortune cookie, or fortune teller. This advice comes from the greatest investing minds of all time. I’m talking about legends like Warren Buffett, Ray Dalio, Jack Bogle, David Swensen, Robert Kiyosaki & Jim Cramer. This is part two which covers Swensen, Kiyosaki & Cramer. Check out part one for Buffett, Dalio & Bogle.

These legendary minds have taught me so much and the advice they give is timeless, so I’m pumped to share it with you today.

Before we jump in I just want to point out how important it is to seek out mentors, coaches & influencers that are best in class at the skill set that you are trying to learn. This applies to anything, not just investing.

Find the people that are crushing it, that have demonstrated mastery and ask them how they did it.

So here we go, let’s hear one piece of advice from each of my greatest teachers.

This legend sadly passed away in 2021. He was the chief investment officer for Yale University since 1985 where he grew $1 billion to over $30 billion! He did this by developing an investment model known as the “Yale Model” now, which divides an investment portfolio up into about 5 or 6 equal parts, and then invests each part in a different asset class.

This principle is commonly referred to as asset allocation, or diversification. So many people don’t understand this, yet it is ridiculously important if your goal is to stay in the game for the long-haul.

If your portfolio only has stocks, for instance, then you aren’t diversified and you aren’t applying asset allocation. This is seriously the best advice I learned from David Swensen. Asset allocation is necessary because none of us are smart enough to time the market. So don’t just hold stocks. You need bonds, real estate, international & emerging markets too. That’s how you get consistent returns that make an impact.

The next guy is a best-selling author that wrote a book so impactful that it changed the mindset of millions of people around the world. It definitely changed my mindset and I am so grateful I read “Rich Dad, Poor Dad” by Robert Kiyosaki.

The best advice I learned from Robert Kiyosaki is that the rich buy assets and the poor and middle class buy liabilities. When I first read that I thought to myself…hmm…what do I want to buy? And at the time it was things like a luxury car, trendy sneakers, the latest tech, and big fun expensive nights out. I said to myself, “Wow! I am thinking with a poor and middle class mindset.” And the light bulb went on and it was one of those “ah-ha” moments. And I immediately shifted my mindset to focus on buying assets.

Stocks, real estate, things like that that would pay me and make my assets grow. So, so grateful for that book, thank you Robert Kiyosaki.

And last but not least, he’s been a staple on CNBC, appeared in movies, and is best known as the host of “Mad Money” since 2005. I’m talking about Jim Cramer and the best advice I ever got from Jim was actually two things.

So thank you to Jim Cramer.

Until next time, never leave money on the table of life.

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