1
00:00:00,120 --> 00:00:03,000
Speaker 1: Sixty percent of stocks forty percent bonds. Well, you know

2
00:00:03,520 --> 00:00:06,440
everything else has changed, including what the industry can do

3
00:00:06,519 --> 00:00:09,640
in terms of limiting losses. So we're suggesting that real

4
00:00:09,720 --> 00:00:12,279
estate and stocks may do what it's done before, be

5
00:00:12,359 --> 00:00:15,839
off precipitously and take longer to recover. The areas that

6
00:00:15,919 --> 00:00:20,719
we do like are outside of traditional investments, outside of cash,

7
00:00:20,800 --> 00:00:25,160
outside of homes, outside of stocks. Okay, it might look

8
00:00:25,280 --> 00:00:28,559
like infrastructure, it might look like manufacturing companies.

9
00:00:28,800 --> 00:00:32,679
Speaker 2: You're listening to, Carrie. Let'sa's financial survival network where you

10
00:00:32,719 --> 00:00:36,640
get valuable information you just can't find anywhere else to

11
00:00:36,840 --> 00:00:40,840
thrive in today's trying times. You need the Financial Survival

12
00:00:40,880 --> 00:00:45,600
Network now more than ever. Go to Financial Survivalnetwork dot

13
00:00:45,640 --> 00:00:49,960
com and get your free newsletter and gift. Financial Survival

14
00:00:50,000 --> 00:00:52,679
Network now more than ever.

15
00:00:56,159 --> 00:00:59,719
Speaker 3: And welcome you are listening to and watching the Financial

16
00:01:00,200 --> 00:01:04,200
val Network. I'm your host, Carrie Lutz. Well, we've had

17
00:01:04,200 --> 00:01:07,640
two back to back years of twenty plus percent gains

18
00:01:07,640 --> 00:01:10,719
in the stock market. Are the good times going to

19
00:01:10,920 --> 00:01:14,840
roll in twenty twenty five or are we seeing now

20
00:01:14,920 --> 00:01:22,120
perhaps the beginning of the January effect in January? So

21
00:01:22,159 --> 00:01:26,120
it goes January, So goes the market. Well, our good

22
00:01:26,120 --> 00:01:30,319
friend John Grace is with us now. John, it's great

23
00:01:30,319 --> 00:01:34,400
to have you back on the show. And well, tell

24
00:01:34,480 --> 00:01:41,879
us here for investors' advantage, corp your company? What's our advantage? Here?

25
00:01:42,359 --> 00:01:45,760
Do we prepare for? In times of war, we prepare

26
00:01:45,799 --> 00:01:48,319
for peace. In times of peace, we prepare for war.

27
00:01:48,959 --> 00:01:51,280
But sometimes it's neither peace nor war.

28
00:01:51,760 --> 00:01:54,519
Speaker 1: What do you do we prepare for both? As an

29
00:01:54,519 --> 00:01:57,280
old boy scout working on my Eagle Scout badge which

30
00:01:57,319 --> 00:02:00,760
I managed to obtain, Yes, it's all about prepared. That's

31
00:02:00,799 --> 00:02:04,439
exactly what the advice is. And that works twenty four

32
00:02:04,439 --> 00:02:07,280
to seven. And I appreciate being on again, Carrie, and

33
00:02:07,280 --> 00:02:10,319
and I see so many people. We get complacent, we

34
00:02:10,400 --> 00:02:12,960
get accustomed to well this is Quai. It's been so

35
00:02:13,039 --> 00:02:16,280
it's just going to continue. I mean, And we've been

36
00:02:16,319 --> 00:02:19,560
here before in the nineties, as you may recall, and

37
00:02:19,599 --> 00:02:22,240
that was a very good run. And then it was

38
00:02:22,280 --> 00:02:25,080
I believe it was Chairman Greenspan at the time who

39
00:02:25,159 --> 00:02:28,400
talked in late nineteen ninety six about a phrase he

40
00:02:28,560 --> 00:02:32,159
coin called irrational exuberance. And of course he took a

41
00:02:32,199 --> 00:02:35,319
lot of black and people told him he was completely

42
00:02:35,360 --> 00:02:37,719
out of step because the Dow and the S and

43
00:02:37,759 --> 00:02:41,360
P at the last half of the nineties doubled in value.

44
00:02:41,400 --> 00:02:43,439
You know, one hundred went to two hundred thousand dollars,

45
00:02:43,439 --> 00:02:47,680
that's pretty good. The Nasdaq quadrupled, one hundred went to

46
00:02:47,759 --> 00:02:50,479
four hundred thousand dollars. But then I think it was

47
00:02:50,520 --> 00:02:54,919
about March twenty twenty two that suddenly what he had

48
00:02:54,960 --> 00:02:59,159
suggested suddenly came into favor, and now he was welcomed

49
00:02:59,199 --> 00:03:02,479
back to the dinner table. Right that's where we saw

50
00:03:02,560 --> 00:03:06,960
the Financial Crier or the dot com crisis happened, and

51
00:03:07,080 --> 00:03:10,439
NASDAK was off. Was it really over eighty percent? And

52
00:03:11,000 --> 00:03:13,159
in my industry, I've only been at it since nineteen

53
00:03:13,199 --> 00:03:15,599
seventy nine, Kerry. You know, we always say, well, it

54
00:03:15,639 --> 00:03:18,599
always comes back, and it did. Nas Dak did come back.

55
00:03:18,639 --> 00:03:22,479
It just took fifteen years, I believe, assuming you did

56
00:03:22,479 --> 00:03:24,639
not sell a share, you didn't need any money for

57
00:03:24,719 --> 00:03:28,199
fifteen years, and then it comes back. So the way

58
00:03:28,240 --> 00:03:31,319
I look at it is, you know, let's be ridiculous

59
00:03:31,400 --> 00:03:35,199
and suppose something like what happened in two thousand, two

60
00:03:35,240 --> 00:03:38,120
thousand and two, two thousand and eight, it happens again,

61
00:03:38,240 --> 00:03:41,080
only only this time, we've got more people than we've

62
00:03:41,080 --> 00:03:44,159
ever had before. Was eleven thousand people a day, turning

63
00:03:44,240 --> 00:03:46,759
sixty six this year, I believe, and a lot of

64
00:03:46,759 --> 00:03:50,639
people reaching the age where they must take required minimum

65
00:03:50,639 --> 00:03:55,360
distributions that only increase every year as a percentage, no

66
00:03:55,400 --> 00:03:58,879
matter what your account does for you or to you. Well,

67
00:03:58,919 --> 00:04:02,080
now it seemed to me that we'd want to really

68
00:04:02,080 --> 00:04:05,719
look at what can savvy investors do to limit their

69
00:04:05,719 --> 00:04:08,520
losses if you have to take the withdrawals and you

70
00:04:08,599 --> 00:04:11,960
must pay the taxes as you do from tradition retireing accounts,

71
00:04:12,400 --> 00:04:14,919
and those withdrawals rates go up a little bit every

72
00:04:14,960 --> 00:04:18,199
single year no matter what. Now's the time I would

73
00:04:18,240 --> 00:04:22,279
submit to look to see where the exit doors are.

74
00:04:22,319 --> 00:04:25,600
Where are the strategies for limiting the losses, as opposed

75
00:04:25,639 --> 00:04:28,040
to believing you have to live with the losses and

76
00:04:28,319 --> 00:04:31,360
you know we may not have enough time to have

77
00:04:31,439 --> 00:04:34,279
those losses offset by the gains, assuming the gains come.

78
00:04:34,360 --> 00:04:37,519
So it's all about limiting those losses. No different than

79
00:04:37,720 --> 00:04:39,959
what if you don't want the hell Mary passed at

80
00:04:40,000 --> 00:04:42,439
the last two minutes of the game to get back

81
00:04:42,439 --> 00:04:45,040
in the game, and then the game's over and you're Crimingmill.

82
00:04:45,600 --> 00:04:50,720
Speaker 3: Yeah. Well, another popular quote out there is everyone has

83
00:04:50,759 --> 00:04:52,759
a plan until they get punched in the face.

84
00:04:52,920 --> 00:04:57,439
Speaker 1: Right, That's correct. And I love George Patten's I love

85
00:04:57,519 --> 00:05:02,319
quoting George Patten, you know, because what he said, if

86
00:05:02,319 --> 00:05:06,160
everybody's thinking you like, then somebody isn't thinking. I think

87
00:05:06,199 --> 00:05:08,560
that's true. That's what I think. I think he got

88
00:05:08,560 --> 00:05:09,120
something there.

89
00:05:09,639 --> 00:05:12,959
Speaker 3: Yeah, so so do you run for the hills? Is

90
00:05:13,000 --> 00:05:13,639
that what you do?

91
00:05:14,600 --> 00:05:17,360
Speaker 1: Well? See, as I say, you know, when I would

92
00:05:17,399 --> 00:05:21,120
take my family to the movies, oftentimes we go in

93
00:05:21,279 --> 00:05:24,360
and you know, throw our clothes or jackets in the

94
00:05:24,399 --> 00:05:27,279
seat and go back for popcorn. So that would give

95
00:05:27,319 --> 00:05:29,199
my sons just enough time to do what I asked

96
00:05:29,240 --> 00:05:31,560
them to do every time they go intough building, and

97
00:05:31,560 --> 00:05:34,319
that's look for the exit doors, the emergency doors. When

98
00:05:34,319 --> 00:05:38,040
we come back, I would stand. I would make sure

99
00:05:38,079 --> 00:05:40,120
they could not see the exit doors. So then they

100
00:05:40,240 --> 00:05:41,639
get to their seats and I would stand in their

101
00:05:41,680 --> 00:05:43,879
way and say, now, tell me where the exit doors

102
00:05:43,920 --> 00:05:46,600
are before we go back to our seats. And they

103
00:05:46,600 --> 00:05:48,720
would because they knew the drill, and that's what it

104
00:05:48,759 --> 00:05:50,480
took to be able to sit down and enjoy the

105
00:05:50,480 --> 00:05:52,959
movie and that's my point. This is the time for

106
00:05:53,040 --> 00:05:56,439
investors to determine how much loss can you live with?

107
00:05:56,920 --> 00:05:59,600
Is it possible you might be able to limit your

108
00:05:59,600 --> 00:06:03,879
losses within your parameters. For example, if let's say two

109
00:06:03,920 --> 00:06:07,160
thousand and eight, the market's off thirty seven percent and

110
00:06:07,319 --> 00:06:11,800
the more traditionally managed mutual funds, the equity funds are

111
00:06:11,800 --> 00:06:15,519
off over forty percent, is it possible that your account

112
00:06:15,639 --> 00:06:18,920
might have been off less than fifty percent? Okay, so

113
00:06:19,199 --> 00:06:21,279
you ont a million dollars, you don't make it simple.

114
00:06:21,720 --> 00:06:24,600
Instead of being off three hundred and seventy overall market

115
00:06:24,720 --> 00:06:27,839
over four hundred thousand in most of stock mutual funds,

116
00:06:27,879 --> 00:06:30,160
so many of them, if your account was off less

117
00:06:30,160 --> 00:06:32,639
than twenty percent, would that be a good thing? That

118
00:06:32,720 --> 00:06:35,600
would that be following the adage, if you find yourself

119
00:06:35,639 --> 00:06:37,839
in a ditch, stop digging. I think so, you know,

120
00:06:38,240 --> 00:06:41,839
if you're down two hundred thousand, that's that's not good news,

121
00:06:41,879 --> 00:06:44,800
but that's better than being down four hundred thousand. And

122
00:06:44,839 --> 00:06:47,160
that's my point. What can we learn from the past

123
00:06:47,519 --> 00:06:49,879
and see what we could do to limit our losses

124
00:06:49,879 --> 00:06:52,439
if indeed they happen to be baked into the cake.

125
00:06:53,000 --> 00:06:55,639
If the real estate market drops precipitously. If the stock

126
00:06:55,720 --> 00:06:59,839
market drops dramatically, the question becomes in advance, how are

127
00:06:59,879 --> 00:07:02,279
you keeping your assets from being burned up? Like we

128
00:07:02,399 --> 00:07:05,480
looked at the fires going on in southern California right now,

129
00:07:05,600 --> 00:07:09,079
where nobody imagined thousands of homes would be burned up,

130
00:07:09,079 --> 00:07:11,360
and your elster completely unprepared.

131
00:07:11,560 --> 00:07:15,920
Speaker 3: But you know, in every everything that happens in life,

132
00:07:16,480 --> 00:07:20,839
there are winners and losers. Even in California. The contractors

133
00:07:20,879 --> 00:07:25,639
who are going to be retained to rebuild these properties hopefully.

134
00:07:26,399 --> 00:07:29,360
You know, the governor has said he's suspending well building

135
00:07:29,879 --> 00:07:34,240
regulations and permits and everything, maybe not regulations but permitting,

136
00:07:34,560 --> 00:07:39,680
so the Queen be accelerated. Jason, deregulating California is like

137
00:07:39,839 --> 00:07:42,160
something I never thought i'd live to see, but quite

138
00:07:42,240 --> 00:07:46,720
being quite being like you know, it's it's something you

139
00:07:46,759 --> 00:07:47,319
have to think.

140
00:07:47,240 --> 00:07:50,399
Speaker 1: About well and look in advance for it. There's a

141
00:07:50,519 --> 00:07:53,439
great story of a gentleman in the Pacific Calisades who

142
00:07:53,720 --> 00:07:57,879
who forethought what might happen and he put sprinklers on

143
00:07:57,959 --> 00:08:01,319
this rou if he used several large hoses to draw

144
00:08:01,399 --> 00:08:05,519
water from his pool to a sprinkler around the house

145
00:08:05,560 --> 00:08:07,680
and then he had to exit stage left at the

146
00:08:08,240 --> 00:08:10,439
at the last minute, and he was convinced that he

147
00:08:10,480 --> 00:08:12,519
would come home as he's seeing all these homes that

148
00:08:12,519 --> 00:08:15,199
are just destroyed. His was still standing and he was

149
00:08:15,240 --> 00:08:18,000
able to help other people. And of course that's the point.

150
00:08:18,319 --> 00:08:20,879
The question becomes, how can you play the game where

151
00:08:20,879 --> 00:08:23,839
it might be heads You in tells you in, you

152
00:08:23,959 --> 00:08:26,000
want to be able to be able to tell your

153
00:08:26,120 --> 00:08:29,360
story as he can, as opposed to the folks crying

154
00:08:29,360 --> 00:08:31,160
their hearts out, and you know, our heart goes out

155
00:08:31,240 --> 00:08:35,919
to them who lost everything. It's completely unimaginable. But that's

156
00:08:35,960 --> 00:08:38,559
why it's so important to be prepared.

157
00:08:39,000 --> 00:08:42,559
Speaker 3: So off topic a little bit, but really on topic.

158
00:08:42,960 --> 00:08:51,320
Natural disasters unavoidable, but it's the reaction to them, and

159
00:08:51,480 --> 00:08:54,759
to the extent that you can prevent or mitigate them

160
00:08:55,559 --> 00:09:01,879
shows leadership of rest. Maybe California will learn something from

161
00:09:02,360 --> 00:09:06,200
what's happened here that their leadership is totally not up

162
00:09:06,720 --> 00:09:07,480
to the.

163
00:09:07,320 --> 00:09:10,720
Speaker 1: Task of well, and maybe we should learn we don't

164
00:09:10,840 --> 00:09:14,480
keep building on the edge of canyons. We don't keep

165
00:09:14,519 --> 00:09:17,600
getting closer and closer to the ocean. For the view.

166
00:09:17,879 --> 00:09:21,960
That's fine when everything's working well, not so fine when

167
00:09:21,960 --> 00:09:25,120
the fires come rushing down the canyons in reverse. To Row,

168
00:09:25,200 --> 00:09:27,480
it was a hurricane. Now I happened to come across

169
00:09:27,519 --> 00:09:30,480
the UCLA study. This was just about the time we

170
00:09:30,480 --> 00:09:34,600
were discovering we're drinking the same water, breathing the same air,

171
00:09:34,600 --> 00:09:37,559
flying the same airplanes, and here comes COVID. Apparently never

172
00:09:37,559 --> 00:09:40,960
saw that one coming, right. But what the UCLA study

173
00:09:41,080 --> 00:09:45,840
showed is one the state, when we developed the aqueducts,

174
00:09:46,360 --> 00:09:51,320
our leadership happened to choose the most wettest one hundred

175
00:09:51,360 --> 00:09:55,200
years to study. Was that by intentional? Was that a mistake?

176
00:09:55,320 --> 00:09:57,879
Maybe we should have studied the one hundred years that

177
00:09:57,919 --> 00:10:00,360
were the driest. Well, we made a decision based on

178
00:10:00,360 --> 00:10:02,360
the wedding is And what the study went on to

179
00:10:02,440 --> 00:10:05,240
reveal is if you look at the pattern long before

180
00:10:05,360 --> 00:10:07,759
most of us were on the planet, including our parents

181
00:10:07,799 --> 00:10:11,759
and maybe their grandparents. They history in California. They said,

182
00:10:11,799 --> 00:10:15,360
you want to learn from the long term history, Californians

183
00:10:15,480 --> 00:10:18,320
get ready for more floods, get ready for more fires.

184
00:10:18,600 --> 00:10:21,600
It's the way California is built. And then they had

185
00:10:21,600 --> 00:10:26,679
a picture of Governor Leland Stanford being road in Sacramento

186
00:10:27,039 --> 00:10:31,399
to his inauguration. Hard to believe, you know, that kind

187
00:10:31,440 --> 00:10:34,440
of thing could happen, but it has. And I would say, Carrie,

188
00:10:34,519 --> 00:10:36,399
I think part of the problem that we have is

189
00:10:36,440 --> 00:10:39,320
we don't learn from history, my friend, because too many

190
00:10:39,320 --> 00:10:40,919
of us are so busy repeating it.

191
00:10:41,360 --> 00:10:45,440
Speaker 3: Yeah. Yeah, well there's an old saying the only thing

192
00:10:45,480 --> 00:10:48,279
we learned from history is that we don't learn from history.

193
00:10:50,159 --> 00:10:53,480
Speaker 1: I wish that wasn't funny, because it's True's sometimes you

194
00:10:53,559 --> 00:10:54,679
got to laugh at the truth.

195
00:10:54,919 --> 00:10:58,120
Speaker 3: Hey, well, I told you I'm a quote collector, so hey,

196
00:10:58,600 --> 00:11:02,639
I love doing these interviews with you. If there's three

197
00:11:02,759 --> 00:11:05,639
sectors for the coming year that you think are going

198
00:11:05,720 --> 00:11:08,519
to outperform the market, or at least to keep up

199
00:11:08,559 --> 00:11:10,279
with it, Yeah, what are they going to be?

200
00:11:10,799 --> 00:11:14,960
Speaker 1: Great question? The model for the securities industry from day one,

201
00:11:15,320 --> 00:11:17,360
for the last idle or at least the forty four

202
00:11:17,440 --> 00:11:20,080
years I've been in the business sixty percent stocks, forty

203
00:11:20,120 --> 00:11:23,960
percent bonds. Well, you know, everything else has changed, including

204
00:11:24,000 --> 00:11:26,559
what the industry can do in terms of limiting losses.

205
00:11:26,879 --> 00:11:29,879
So we're suggesting that real estate and stocks may do

206
00:11:29,960 --> 00:11:33,039
what it's done before, be off precipitously and take longer

207
00:11:33,080 --> 00:11:36,919
to recover the areas that we do like are outside

208
00:11:36,919 --> 00:11:41,399
of traditional investments, outside of cash, outside of homes, outside

209
00:11:41,399 --> 00:11:45,320
of stocks. Okay, it might look like infrastructure, it might

210
00:11:45,360 --> 00:11:50,519
look like manufacturing companies. Okay, owning the warehouses. All this

211
00:11:50,559 --> 00:11:52,799
stuff has to be distributed. How about owning the land

212
00:11:52,879 --> 00:11:55,919
under those warehouses, that's probably going to be a constant.

213
00:11:56,080 --> 00:11:59,759
How about being in student housing. Good clients who own

214
00:11:59,799 --> 00:12:04,279
proper USC. He's an engineer, rocket scientist, she's a broker.

215
00:12:04,639 --> 00:12:08,080
They have real estate that they own as rentals near USSE.

216
00:12:08,639 --> 00:12:12,039
They tell me USC reports they have eight thousand rental

217
00:12:12,120 --> 00:12:15,639
units with forty thousand people on the waiting list. I

218
00:12:15,679 --> 00:12:18,320
bet that waiting list just went up. My point is,

219
00:12:18,919 --> 00:12:23,240
if we own those kinds of real estate investments, you've

220
00:12:23,279 --> 00:12:25,120
got a lot of demand for it, and you can

221
00:12:25,279 --> 00:12:27,279
manage the market with all of that demand. And I

222
00:12:27,279 --> 00:12:31,240
would suggest being outside of southern California, out of California altogether.

223
00:12:31,639 --> 00:12:35,279
The other area that I really am found carry that

224
00:12:35,360 --> 00:12:37,519
I think has a lot of promise and a couple

225
00:12:37,519 --> 00:12:39,799
of vehicles have been around for over seven years now,

226
00:12:40,240 --> 00:12:44,879
is owning data center infrastructure, all the real estate necessary

227
00:12:44,919 --> 00:12:48,480
for all the artificial intelligence that we're getting accustomed to

228
00:12:48,600 --> 00:12:53,000
embracing and using well, it requires three hundred thousand square

229
00:12:53,039 --> 00:12:57,960
foot buildings again outside of California, solid deal, solid returns

230
00:12:58,080 --> 00:13:00,840
net to the investor. A star the last sets. That's

231
00:13:00,840 --> 00:13:02,759
one of the things that I think will hold up

232
00:13:02,759 --> 00:13:05,120
well no matter what happens in the economy, what happens

233
00:13:05,120 --> 00:13:06,799
in Washington, what happens in Sacramyl.

234
00:13:07,080 --> 00:13:11,759
Speaker 3: All right, well, I don't know. The data center thing

235
00:13:11,840 --> 00:13:15,519
looks like could be a modern day gold rush. We know,

236
00:13:15,840 --> 00:13:17,840
we know what happens to gold rushes.

237
00:13:17,919 --> 00:13:21,120
Speaker 1: John to your point, Levi Strauss is still a name

238
00:13:21,159 --> 00:13:23,799
we know, right, and he got famous doing what he

239
00:13:24,000 --> 00:13:27,240
wasn't going after the gold. He didn't do picks and shovels.

240
00:13:27,480 --> 00:13:30,159
He did close and I think they've been around for

241
00:13:30,240 --> 00:13:33,159
what eighteen twenty five something like that. I think you

242
00:13:34,200 --> 00:13:37,480
made a nice parallel there. Look for the where the

243
00:13:37,559 --> 00:13:40,279
knee is not going away has nothing to do with

244
00:13:40,360 --> 00:13:44,039
demographics so much we're going to be using all this technology,

245
00:13:44,240 --> 00:13:46,639
we may as well own the real estate that has

246
00:13:46,679 --> 00:13:49,600
to be in place to provide all this technology.

247
00:13:49,879 --> 00:13:54,799
Speaker 3: How about electric utilities, looks like we're heading for shortages

248
00:13:55,240 --> 00:14:01,000
and key markets, and one in Virginia or probably the

249
00:14:01,039 --> 00:14:03,320
biggest data centers in the world that you never heard

250
00:14:03,320 --> 00:14:08,120
of in the Langley of Vicinity. You can't build a

251
00:14:08,200 --> 00:14:14,840
data center there without a two year reservation, right. And

252
00:14:14,919 --> 00:14:18,240
what does it mean for alternative energy sources? Are we

253
00:14:18,320 --> 00:14:21,720
going to see a boom in solar and wind? Certainly

254
00:14:21,759 --> 00:14:25,240
we're seeing a boom in battery storage.

255
00:14:25,159 --> 00:14:28,080
Speaker 1: Yes, sir, that's going to continue, no doubt about it.

256
00:14:28,720 --> 00:14:31,759
A lot of opportunities. Just as I say, I think

257
00:14:31,799 --> 00:14:34,919
we have to expand our thinking. If we look at

258
00:14:35,000 --> 00:14:38,480
Yale endowment, was it like forty point seven billion dollars?

259
00:14:38,720 --> 00:14:42,279
What's astonishing to me, Carrie, is there exposure to US

260
00:14:42,399 --> 00:14:44,360
docs is last time I looked, and I tend to

261
00:14:44,360 --> 00:14:47,559
look once a year, it was around three percent. I

262
00:14:47,600 --> 00:14:50,679
didn't say thirty. I didn't say forty. I didn't say sixty.

263
00:14:50,720 --> 00:14:54,039
I said three. And what I find is they have

264
00:14:54,159 --> 00:14:57,919
maybe six or seven different assets legs if you will

265
00:14:58,039 --> 00:15:01,399
under that portfolio stool for more stability. And if you

266
00:15:01,559 --> 00:15:04,440
spend some time on their site, they explained what they

267
00:15:04,600 --> 00:15:06,600
used to do back in the eighties, what they're not

268
00:15:06,720 --> 00:15:09,840
doing anymore, which is very different from the securities industry.

269
00:15:10,120 --> 00:15:13,200
They also represent. This is their report, not by that

270
00:15:13,240 --> 00:15:15,600
they didn't lose money in two thousand and eight, So

271
00:15:15,919 --> 00:15:18,799
I'm submitting that, you know, we can learn from the

272
00:15:18,840 --> 00:15:22,200
best in the brightest. We can't replicate what the endowments

273
00:15:22,240 --> 00:15:25,440
and the institutions do, but they have been in private

274
00:15:25,480 --> 00:15:30,200
credit and private companies in private equity long before retail investors.

275
00:15:30,440 --> 00:15:32,679
Those are some of the areas we want to follow

276
00:15:32,879 --> 00:15:34,720
the best in the brightest to see how we might

277
00:15:34,759 --> 00:15:38,440
put some more legs under our portfolio stool so that

278
00:15:38,480 --> 00:15:40,200
it's less wobbling a little bit.

279
00:15:40,240 --> 00:15:44,600
Speaker 3: I also remember reading an article that Harvard had gone

280
00:15:44,679 --> 00:15:51,279
all in on payday lenders too, so you know, through

281
00:15:51,279 --> 00:15:54,360
their homework. Yeah, but I guess it was good. Well,

282
00:15:54,519 --> 00:15:56,919
I guess it was good until it wasn't. Like so

283
00:15:57,080 --> 00:16:01,559
many other things, John, tell us how we connect with you,

284
00:16:01,639 --> 00:16:04,639
how we find you on the web, and what you

285
00:16:04,679 --> 00:16:05,000
can do.

286
00:16:05,000 --> 00:16:09,320
Speaker 1: For us investors advantage. You know, to your listeners, Carrie,

287
00:16:09,360 --> 00:16:12,000
I'd be delighted if they have some questions they'd like

288
00:16:12,080 --> 00:16:16,120
to talk about what we're discussing. Will give you allow

289
00:16:16,240 --> 00:16:18,279
fifteen minutes right to see if there's something we can

290
00:16:18,320 --> 00:16:21,639
do a way that you might be better prepared to

291
00:16:21,720 --> 00:16:24,679
see how you might limit the losses. Maybe there's something,

292
00:16:24,799 --> 00:16:27,879
maybe not, but that's without any cost or obligation. And

293
00:16:27,919 --> 00:16:30,399
then if that makes sense, we can help prepare up

294
00:16:30,440 --> 00:16:33,120
an actual plan to help people see what it takes

295
00:16:33,200 --> 00:16:35,000
to get from here to there and arrive on time

296
00:16:35,039 --> 00:16:38,039
safely to make work optional. But right now we really

297
00:16:38,080 --> 00:16:42,320
are on a mission to show investors as we were

298
00:16:42,320 --> 00:16:44,600
in two thousand and seven. By the way, sometimes it's

299
00:16:44,639 --> 00:16:48,200
better to be lucky than good to limit losses. That's

300
00:16:48,200 --> 00:16:51,039
what I think is so crucial. The industry simply says

301
00:16:51,080 --> 00:16:53,039
you have to live with your losses. The good news

302
00:16:53,080 --> 00:16:55,879
is that is not true. But too many of our

303
00:16:56,000 --> 00:16:59,919
my peers haven't really been advocates or been, you know,

304
00:17:00,080 --> 00:17:03,480
being about the business showing investors what might you do

305
00:17:03,919 --> 00:17:06,759
to limit your losses? Happy to spend fifteen minutes with

306
00:17:06,839 --> 00:17:07,839
your audist.

307
00:17:08,160 --> 00:17:12,240
Speaker 3: Y X spouses say the same thing. But we got

308
00:17:12,240 --> 00:17:14,480
a link in the show notes to this interview on

309
00:17:14,559 --> 00:17:17,640
Financial Survival Network. Just click it, take your right to

310
00:17:17,720 --> 00:17:21,119
John's site and if you've got a question for John myself,

311
00:17:21,359 --> 00:17:23,599
shoot me an email. While you're on the site. We

312
00:17:23,799 --> 00:17:26,640
just ask you to please sign up for free newsletter

313
00:17:27,039 --> 00:17:32,319
like sixty five thousand other FSN community members have done. John,

314
00:17:32,440 --> 00:17:35,799
appreciate you coming on the show. Best of you, Best

315
00:17:35,799 --> 00:17:39,039
of twenty twenty five for you and yours. We'll talk

316
00:17:39,079 --> 00:17:40,039
to you again real soon.

317
00:17:40,279 --> 00:17:42,880
Speaker 1: Look forward to surviving and thriving in twenty twenty five.

318
00:17:42,920 --> 00:17:43,039
Speaker 3: All.

319
00:17:43,039 --> 00:17:43,720
Speaker 1: It is good to be with you.

320
00:17:43,839 --> 00:17:48,240
Speaker 2: Carry thanks for listening to Carrie Letz's Financial Survival Network,

321
00:17:48,400 --> 00:17:52,359
your solution to today's trying times. For the latest, go

322
00:17:52,400 --> 00:17:58,319
to Financial Survivalnetwork dot com. Financial Survival Network now more

323
00:17:58,400 --> 00:18:04,119
than ever, CRUs