Financially Free Podcast: Recent Episodes
Ney Torres
Ney Torres became Financially Free at 25. Here he interviews his mentors and people on the top of their game. To find what they do, how they do it and why they do it.
HOW IT WILL BENEFIT YOU? Give you the road map to understand money and wealth strategies so you can figure what works for you or how to implement those nuggets of wisdom to your business and personal finances and live.
In this episode we talk about the hustle and years of hard work that Mariusz had to go though as he is facing an amazing return on investment in his stocks now.
Mariusz is up 5000% and I think this investment will eventually get him to 400X (40000%). In an industry where 10% a year is outstanding result.
This is a story you cant miss
36) Hustling to 5000% return on investment with Mariusz Skonieczny
Transcription by Arianne Elnar
Ney Torres: [00:00:00] Now, let me tell you my side of the story very quickly. Before we start talking about your story. I think… I don't remember if I texted you or Adam from Oroco and Im like “by the way, if you ever do another placement (raising money), please do let me know” and then it was like “we're in the middle of one right now”, and I'm in the middle of Netherlands. And now, I have to take a plane to Ecuador, raise the money and that takes me like two weeks. The moment I want to send the money, my bank account in the United States says you have to be present because of the amount and we're blocking the account until the come and that moment I had to take an airplane and figure out how to get a covid-test again… So in three weeks I was in three continents.
Mariusz Skonieczny: [00:00:54] It's funny. Hey, I guess it was worth it
Ney Torres: [00:00:57] it was worth it. And let's talk about what happened. There was a private placement in Oroco (OCO). That's a company we'd covered… I think in April in this podcast and please tell me the story because now the title of that episode is how you made a hundred bagger or 10000% and now that's turning into 40000%.
Mariusz Skonieczny: [00:01:22] Well, look, it's approaching 400X from the point where I started investing and that's because of Oroco and well, not because of Oroco but I started literally January 1st, 2009. So, that was like the best time to start. So, I had very good, very, very good three years, 2009 was fantastic. 2010 was good. 2011 was good and then from 2012 to 2017, it was just absolutely horrible. I mean, I couldn't get anything right these five years and that's because a lot of my investments were in mining gold, and silver. And as I said before, many times, I mean, these guys are professional fuck-ups. I mean, I have never seen people so incompetent and just playing stupid as they are in this industry. But because of this industry, that's how I found Oroco because if it wasn't for their stupidity, I would have never found Oroco and then when I found Oroco in 2017 that just gave me new life, a new lease on life. And since then, I mean, Oroco is up like, okay, I bought it. I think I put like 60 grands into it at 4 cents. So, I bought like 1,445,000 shares. So, yesterday or two days ago, the stock hit like $2. So, you do the math. That position alone went from like 60 grands to $3 million. So, that's really where you're 300X comes from because I started with $10,000 in 2009. And here this position alone is like $3 million and that doesn't count my other positions. So, really the math is simple. It's nothing really complicated just a huge win and that can happen in investing. I mean, one or two big wins can make your life, make your career. And that's really what happened with Oroco for me.
Ney Torres: [00:03:39] It's amazing. First of all… there's still a lot of appreciation to come yet. Before you tell me the story, what are you going to do next? Are you going to just keep going into stocks? Are you going to retire? What are you going to do?
Mariusz Skonieczny: [00:03:59] No. I mean, I enjoy investing. I'm going to just keep doing this but it's still I'm not exiting the position yet. And actually, since I bought the position, you can trade in and out of it a little bit and maybe I took a little bit of money off after I replaced some of the position with the private placement. So, now I have a situation where I have some shares that are restricted in private placements on some shares are in my account which are liquid. Obviously, the restricted shares or warrants that I have through private placements, they're restricted. So, it's kind of like locks you in for at least four to 12 months. If you're in the US it locks you in for more like 12 months, if you're outside of US, it locks you in for only four, but I am in no hurry to sell them and the liquid position that I have, I keep it because some of my warrants what if let's say they get accelerated. I need to have the ability to stay liquid on that position so that I can exercise my warrants without necessarily touching my outer positions.
Ney Torres: [00:05:26] So, one of the things that most people don't understand is that when one of your positions start going so high is that you constantly wonder “should I liquidate it? Shall I make my position size smaller? Because basically there are other positions just disappear. Not even there, you become Oroco (OCO) or the stock that you are holding. What are your thoughts about that? Because some people say, "Well, it's more than half of my portfolio is too much or do you ride with what? How do you see it?
Mariusz Skonieczny: [00:06:03] Well, first of all, when you have a position that goes up 50X and you don't really sell, it becomes a huge position just on its own. And to begin with it was already a big position when I bought it but I think that's really very much a personal choice depending on who you talk to. If you ask Warren Buffett, he'll say, "Diversification is good for those who don't know what they're doing” or you will have some things like “you get rid or you concentrate to get rich and you diversify to stay rich” and then you have other opinions such as maybe the generalists in the financial industry: “oh yes You have to have 20-30 positions”. Okay. That is an opinion, and each person is different but if we look at people very successful. They're very wealthy people that come to mind. Well, like let's say bill Gates or Warren Buffett or even Elon Musk. How did they come to that wealth? Well, pretty much they were invested in one company. Elon Musk, one company, Tesla and then you can have people saying, "Whoa, but that's stupid. That's irresponsible." Okay. That's your opinion. But the bottom line is that he became a billionaire or whatever being in one position like this and now everybody is talking about it and on TV, nobody says, "Oh, he's too concentrated." But if you are as an investor-investor in Tesla and I'm not saying that's like good investment. It's just an example. If you are invested in Tesla and you let's say you're 90% of your net worth in it, you're irresponsible and stupid but Elon Musk is not responsible and stupid. He's a visionary.
Ney Torres: [00:07:55] You came from real estate too. You used to do a lot of real estate before doing the stocks.
Mariusz Skonieczny: [00:08:06] Well, when I graduated college which was 2003, I entered the real estate industry because I wanted to learn the real estate and I wanted to learn how to value real estate. And that's how I entered it. And then after I've been at it for a few years, I was investing on my own and I realized that I really didn't have the passion or that much interest for real estate. And actually, when the financial crisis started hitting, I wanted to enter the financial industry and I actually applied for a job with Morningstar because they were in Chicago and it's kind of funny because at that time, so many people were losing jobs. That there was so much competition and I didn't have the background in the financial industry. My background was real estate, so they rejected me. And it's kind of funny because at that point I said to the person who was in charge of hiring, I said, "What can I do. To improve my chances in the future?" And I remember she said, "I suggest you read a lot of books on value investing." It's kind of funny because by that point I already probably read 300 books, but instead of reading more, I decided to write 10 of my own since then.
Ney Torres: [00:09:32] Oh, that's why! Very good. Do you think that helps writing books?
Mariusz Skonieczny: [00:09:39] Help to what? Writing book?
Ney Torres: [00:09:40] There's a lot of effort in writing a book.
Mariusz Skonieczny: [00:09:44] I liked the book business, you see outside of investing when people don't know about me is that when I left the real estate in 2009, I had $10,000 to my name and I didn't have a job. I left; I didn't have a job. Actually, my girlfriend had a job and she was paying the bills. But during the time that my investment was growing, I wasn't touching any of that money. So, I had to come up with different ways to make money by doing small projects. So, for example, I wrote one book and then it was like, "Oh cool. It's selling copies. And I don't really have to do a lot. And it's generating some revenue for me, it's not a lot. It might have generated maybe 400 a month, but 400 a month. That's a lot of money. If you don't have to do anything for it because once the book is on Amazon and it gets recommended, it’s kind of gets its own track record and you kind of generate sales. But the first book was why are we so clueless about the stock market. It was just a general book about investing. So, a book like this has a lot of competition because anybody that comes in, what are you going to pick up? Well, whatever Warren Buffett whatever was written about Warren Buffett or what are the classics? I forgot the names of the classics. Do you remember some?
Ney Torres: [00:11:20] Ben Graham.
Mariusz Skonieczny: [00:11:21] Exactly. So, these are the books that you turn to first. So, that particular book, I mean, I've come on $400, $300 a month, it's great. And of course, I could have put more effort into marketing it but is it really worth it? If I have to work all the time to market it just to increase it a little bit. No, why not write another book? So, then the second book really opened my eyes because the second book was the basics of understanding financial statements. So, we weren’t really like just investing but it was how can you learn about financial statements as an investor? Because I remember in college, when I was taking an accounting class, accounting class wasn't really hard for me because I enjoy numbers. I enjoy math, so it comes easy to me. But then when I looked around, people had a really difficult time understanding accounting. So, I figured, well, there's really nothing really good out there that breaks it down to a level that people can understand. Yes, there's accounting books that are a thousand pages long, but who wants to read that. So, I wrote that book and it just absolutely blew me away. I mean, it outsold the other book by multiples and that really kind of taught me a lesson. Like, wow, if you write a niche that's not a lot of competition then you can make some decent money with very little effort so then I thought, "Okay. Well, let's keep writing more and more." Because I had a lot to say and then I learned, okay, just because another book is niche doesn't mean it's going to be successful so that was a lesson. It was maybe too niche and it only sells like two books a month, so it wasn't really worth the effort. And then I ended up writing a book on, for example, I'm sure you've seen it on Gold Production because I was involved in that from this year. So, I lost a lot of money, but I learned a lot. So, that was another success because here is a similar situation as the basic financial statements is people invest in these junior mining companies. They don't have a clue the difference between open pit, underground, oxide, sulfide. Hey, if I write that explain it in a way people will appreciate that. And that book became the second-best seller. So, it's just like writing those 10 books actually taught me a lot about because those are like little separate businesses on their own and when you go through these kinds of projects on your own and then it actually kind of helps you when you analyze investments. It’s kind of gives you a sense of what especially with new companies when they come up with new projects or new products, it kind of gives you a sense whether something can be successful or not. Another project that I don't know if you know that I am in ballroom dancing, competitive ballroom dancer. So, in competitive ballroom dancing, you have to have a costume makeup and all that stuff.
Ney Torres: [00:14:51] How did you end up doing that? What's the story behind that?
Mariusz Skonieczny: [00:14:57] Well, actually it's a funny story because as you know I'm from Poland and I came to the United States in 1996. So, I was 16 years old and my entire time in Poland, I was all about sports. I was in a special track and field school. I was a runner I was a soccer player and then when this whole craziness with and Barcelona, 1992, Michael Jordan and Bulls, everybody was playing basketball. So, I fell in love with basketball and I was excited to come to the United States because as far as I was concerned, I was coming to the US to play in the NBA. Like that was on my mind like, "Okay, I'm coming here, I'm coming to Chicago. Here I come." I had no clue and anything about how it worked but I just wanted to play because in my city back then there was no such thing as basketball clubs that it was just at the infancy and we had soccer clubs but not basketball clubs. So, I never really had a chance to play other than streetball. So, when I came to Chicago, obviously went to high school, tried out for a basketball team, made the team but to numb my surprise. The reality was I was probably not good enough to the standards of the United States. And as a consequence, I never really got a chance to play. I was on the team but I was never allowed to play. I mean, literally the entire season, I got to play in a real game like 30 seconds or a minute. It was, it was devastating to me because this was my dream. I was going to play in the NBA and here we come. At that point I was so devastated. I just stopped sports completely at that point. I really didn't want to run anymore. I was kind of tired of soccer by the time and basketball devastated me. So, that's when I found dancing. So, it's actually kind of funny the documentary that came out on Michael Jordan, the Last Dance because his last dance was literally my first dance at the same time that he was doing his Last Dance. That's when I started dancing and that's the start of it and I never stopped.
Ney Torres: [00:17:30] I love to interview you because you are the epidemy of a hustler. You've done this, this, that didn't quit. Keep going, keeping the five years of a dry spell in value investment. I don't know how many people will go through that and come out of the other side.
Mariusz Skonieczny: [00:17:48] I mean, it was just absolutely terrible. I just thought that I'm cursed and going back to now what I was going to say about the ballroom dancing and the costumes. So, when you compete in ballroom dancing you have to have costume and make up an older and then now those costumes are custom made. You don't go and to JC Penny and especially, I'm talking about for the ladies for the dressers they're custom made. So, because they're custom made they're expensive and if you go to these competitions, they can go three, five, $4,000 for one dress. And so, my partner always wanted to learn how to make those costumes because they're not made the same way regular clothing is made. And there was literally no information out there how to make a ballroom dance outfits. We saw it as an opportunity to create a product and if you look at the ballroom dancing and people who know how to make costumes, what do they want to do? They want to make costumes and for me it was how stupid. It's time-consuming it takes you 80 hours to complete one dress. Yes. You're going to get paid $5,000 for it or a little bit less, but you, you put so much work into it. How about creating instructional videos to teach the world on how to make ballroom dance costumes, but we didn't know how to do it. Well, we found a designer from New York that knew how to do this. I had a video camera. I knew how to make instructional videos because I already made value investing in university at that point. So, I already invested in the camera and I said, "Look, let's make instructional videos. There's no one in the world doing it. I have the camera. You do it. You create these videos." We created like six instructional videos on how to make a dress, how to make a shirt for a guy, how to make pants for a guy and it turned out to be like 13 videos we released them. And we started selling them all over the world. I mean, you name the country, China, Germany, any country Ecuador, because there was nothing out there. So, if you actually go to Google and YouTube and you type how to make ballroom dresses, our stuff is going to come up because no one else bothers to do it. Every other costume designer is wasting their time making dresses and we made the DVDs. So, it took us what a week or something to put it together. This was a lot of work but we made like over $60,000 selling those DVDs all over the world and we didn't spend a penny on marketing. So, these are the kinds of things that I've been doing over the years. And it always thinking like, how can I create a product that doesn't take a lot of my time is scalable, has huge profit margins and I have more products. A little product like this that it's not a huge money maker, but it allowed me to go through these tough times. It allowed me to create income stream that I didn't have to have a job for the last 10 years because of these little products.
Ney Torres: [00:21:17] My respect, man. I admire you, hustler. I really like that… well I also have paid my fair share too… but I've also gone through four or five years where everything I touched just goes goes to hell and just nothing, nothing works, but what keeps you going? Because you didn't stop, you didn't sell your stock and didn’t go to find a job or something else. What kept you going?
Mariusz Skonieczny: [00:21:44] I don't know. I don't know. Sometimes when so many things go bad your way, you like reach deep inside and you realize that you're stronger, you are stronger than you thought. And I remember one time I was looking at this motivational guy was talking about failure and I will never forget, I don't know what his name is, but he said something like, "If you fail so many times in a row, think of it as a down payment for future success." I mean, I literally cried when I heard that because this was at the time where it was bad and little did I know that I was just around the corner to hit, I mean the best home run I could have ever imagined.
Ney Torres: [00:22:38] And best homerun I have ever heard of too in investing, by the way. I've been studying this for 15 years and 400 baggers is something you just don't hear about. Maybe a myth… now it's just unbelievable. And it just cannot imagine the moment you were… because what you found, people have to understand is what you found is not luck. It took a lot of skill and a lot of hustling. I don't even know how you -- I've heard to before, but can you tell me the story, how did you find Oroco and all of a sudden, what did you feel that moment you were holding or looking at those pieces of paper and be like, "Oh my God."
Mariusz Skonieczny: [00:23:17] Well, I mean, I found it because I held a different stock in the mining industry. That was a complete disaster, but that company bought a property from Oroco in 2014. So, I was aware of Oroco in 2014 when it was at 1 cent, one penny. At that point, I didn't buy it. Well, I bought a little bit, but I didn't buy a lot of it because it was a completely different thesis. It was trading for less than cash. I knew that there was something going on with some copper. Copper that they told me in a conversation that, "Oh, we're involved in this copper play." I didn't know the name. I didn't know. It was like, "Oh, a small percentage." It was nothing there. It was nothing there to interest me, but as with many of my investments, I just keep following them, keep following them and one time, three years later, I saw unusual activity on the CEO was buying stock and I looked into it. I found this website about the lawsuit I called the company confirmed. So, you're right. When I looked at it at that point, I couldn't believe my eyes. I think I bought like 700,000 shares the first day or couple of days. And I went to sleep and I couldn't sleep. And I said, I need to buy 1.4 million shares. I need to just buy so much that's humanly possible. I remember also that day I was reading this book and I took a picture and that day of the quote, and it said something like, "That one of the successes in life is to be able to recognize when something -- forget about that. I can't even remember the quote, but it was very profound. It was something about like, you need to know when to say no to an opportunity. And I just literally took a picture of the quote and I think it's somewhere in my phone. That's what happened back then. It was just like, I couldn't sleep the next day. I woke up, sold a bunch of my positions and load it up like never before, and the rest is history.
Ney Torres: [00:26:15] Well, man. Wow. I'm reading one of your books and I'm doing some due diligence in tankers and you put some videos out there, so that was, that's how I found you but then I'm reading your books. And I before the interview and I find the last page, like 10 minutes before the interview, but Oroco has been explained, and Im like “what?!” And then we have that each of you and I'm like, forget about the tankers. Talk to me about the Oroco and what I've seen since April is even more interesting. Just like you created a group, you created your own webpage. By the way, what's the name of the webpage?
Mariusz Skonieczny: [00:26:56] Microcap Explosions.
Ney Torres: [00:26:57] And you post in there your best ideas basically. And you created a group, not only that you created this web page, you created a group that will raise money to invest in Oroco. And that will you become your own catalyst into the stock, which just blows my mind, like what I've seen in the last couple of months, have you done? It's been really inspiring. How did that happen?
Mariusz Skonieczny: [00:27:26] Well, it actually started with the tankers. I got involved with the tankers and started making videos about the tankers and the kind of attention that I got was just mind blowing because the last four, three or four years, mostly I was talking about Oroco because it was my biggest position and there was really not much to talk about. So, I talked about Oroco and you have 20, 30 people following you, but nothing big. At that time, I had a Twitter account and someone reminded me, "Hey you have a Twitter account. I'm like, Oh really? And Oh, you have like 400 followers. Oh, I didn't know. Okay." So, I started making videos about tankers and the amount of publicity that I got from these tankers was just mind-boggling. I mean, it was crazy. Because I'm like, "Yeah, tankers are good, but don't you people have anything else to do other than talk about the tankers?" I mean, it was exciting. It was something new to me and I did own the tankers. So, when I own something and then I can be passionate about talking about it because I'm not just I'm truly owning it. So, I believe in it. And so, my channel started to grow, and my number of YouTube followers started to grow and more and more people were kind of asking if I have a newsletter and I used to have a newsletter in the and it was actually during the time that the mining industry destroyed me. So, I was obviously talking about some of the miners and they lost money. So, didn't go that well and also, I was only charging like $199 per year and it was just consuming all my time. I did it four, five years during those horrible five-years. And after that I was like, "Okay, I'm not going to be working 40-hour weeks. And writing a newsletter that makes me $10,000 a year. I can go and flip burgers at. McDonald's probably make more money. So, I stopped that newsletter and then when people in 2020 started asking me about, "Hey, do you have something that I can subscribe to? I was like, Oh, not again. No, I don't want to do it. I I've done it before. Not interested." But people kept asking me. So, then at some point I was like, "Fine, fine. I'm going to make a video and I'm just going to say it like I don't want to, I pretty much said it. Look, I don't freaking want to do it, but you keep bugging me to do it. So, let me do this. If I were to do this and let's, I said, let's call it Microcap Explosions. If I were to do this, number one, it's not going to be cheap. Because I'm not wasting my time for $200 a month, I said, it's going to be $1,500 and that's it. And if there is enough interest, then I'll do it. If there is not, I'm not doing it." So, it's up to you guys and I'm saying this on the video, it's up to you guys. Here is a signup box. If you are interested put your name, email and if I get enough people, I'll do it. And I said, and don't play games with me here. Don't put your name there, if you halfway interested that I'm not interested in maybes, I'm interested in people who are going to do it. So, I put it out there. I put the video out there, I put the sign-up box and I was like, okay, let's go. I have a gas station, 20 minutes’ walk. I went to the gas station to get like some junk food and pop and I'm like, okay, see what happens? 30 minutes later, I come back and there's like 30 or 40 people that already signed up. So, I was like, Holy shit. Okay. I guess there is interest. So, so then I'm like, okay, we're doing it within a week I built a website. And now we have about 150 members. Now that we have this membership website where I present them with my best ideas that most of them. Right now, the ideas that are we have about 10 ideas all of the 10 I own but there might be an idea in the future that I will write about that I don't own because I only have limited amount of money, but right now everything is that I own is there. So, one of the things that I wanted to do for my members is to give them access to the management because I always pick up the phone and I called the management. So, I was doing interviews with management and I also thought, well how about doing like a live call with and I asked Oroco like, "I started this, would you do a live call with me where I invite my members and they listened to you and then they can ask you questions. Oh yeah, sure. Let's do this." So, we did this and one of the members. I said at the end of the presentation how can we participate in private placements and that really just kind of surprised me. I didn't think about it. I participated at that time in one private placement, but it didn't even occur to me like, "Oh, there might be out of people that are interested in it." So, that's kind of how it started. And I thought to myself, I called Oroco after this and I said if there is interest for raising money, like, would you be interested in that and say, well, there's enough interest. We can definitely consider it. So, I sent out an email to all of the people and I said if there was a private placement, can you guys give me an idea? Are you interested? And if you are like at what amount would you do? And within three days, a hundred people responded. I started adding the amounts and it's like $4 million. I was like, Oh my God. So, then I called Oroco and I said, look, forget the hedge funds, forget the majors. Fuck them all. We can do this on our own then they were like, Oh wow. $4 million. We can do it. That's how the first private placement came along. So, that was at 60 cents. We as a group… and it wasn't just Microcap Explosion members, but we were more at that time we were more than 50% of the placement. But that placement, which was I think in September, that was the catalyst. Because at that time, people were like, where are you going to get the money from? How are you going to raise the money for drilling? And this entire time I was hearing, “Oh, this hedge fund is interested. That hedge fund is interested”. So, when this came along, like I said, fuck the hedge funds, screw those stupid idiots. They can't see value. We'll do it ourselves. So, that's how the first private placement came along. And you know what happened next? The stock goes from 60 cents to over a dollar and when it was trading around dollar 40 couple of weeks ago, we started having this conversation again. Hey, yes, we have $10 million in the bank or approaching $10 million we need to get our goal is to be at 30 million. We already spent about five on the property. We have 10 in the bank. That's great. But if we could do more than we were not going to have to interrupt the drilling. We can just go straight up all the way to the finish line without needing to raise more money. So, I did the same exercise. I said, Hey guys and your part of Microcap Explosion. So, you've seen that, hey guys if, if we were to do the private placement, because at that time we didn't decide, “Hey, what's your interest?” And then people started responding back. And then I thought that, well, they participated at 60 cents. There's no way they're going to do what they did in the first one, like four and a half a million, no way. I thought they'll probably do a million. Pardon because the price is doubled. The price was to like 140 and then I didn't even know at that time what it would be priced at. But I still didn't think they were going to do a lot and then start email starts coming in and I'm like, wow, we're three, four, five, six, seven, $8 million and I'm like, this is insane and now in the first private placement, we had like 80 people that participated this time. It's like over a hundred. So, then I'm like, okay, this is what we have. So, it was like, okay, let's do it and we started the private placement and the stock price is a $1.40. It was priced a $1.20, which at that time was like 15% discount. We start submitting. You start submitting the applications and a week later the stock goes crazy. Again, it goes over $2, so I'm sure some of the people were worried, is Oroco going to reprice it? Exactly. What's going to happen? We're going to be able to close it? Well, but that's the thing you get with Oroco is that the integrity is they promise you that they're going to do it and they're going to follow through. And that's what happened. Yes, the stock price ran up to over $2, but it doesn't matter because when we started the private placement then they already reserved the price and people already submitted their applications. Some of them, if you remember, we started on November 20 and this was Friday. This was Friday. And I sent out the applications after the market closed on Friday. And what did I say to people? I said, you have 24 hours to complete the application. And some people were like, "Really? Oroco wants us to complete the application over the weekend. I said, no, it has nothing to do with Oroco. I want you to finish it in 24 hours because I know if I tell you have 36 hours, you're going to take a week." So, really from Friday to Sunday, 80% of the applications were submitted and people already started wiring money and yes, it took two weeks because of situations like yourself, for example I mean, you were holding the private placement, you were delaying it and I mean, you and other people because you couldn't get the money fast enough. You had to go and wire it from here. Why from there, but that's why it took so long.
Ney Torres: [00:38:40] Yeah. It's such a short notice and I wanted to raise my amount to the last minute. And then I got an email saying, sure, you can raise it and the next thing we're closed. And I was like, Oh my God.
Mariusz Skonieczny: [00:38:50] Well, I mean, think about the pressure within the company where the stock is hitting $2 and I'm not saying they told me this but if I'm the CEO, the stock is running to $2 and I'm doing my private placement at 1.20. Of course, you're going to be like, Oh, there's going to be a lot of angry people but you know that you started it you got a hundred or 150 people involved. You have to follow through with the promise and close it. And because it's relationships, but the bottom line is that so the group, my group Microcap Explosions raised like $8.3 million out of 15 and a half. So, if you look at it, just like you said, we are the catalyst. And us and other people that Oroco already has relationships. We created this. The company’s market cap went from 4 cents to whatever 30 without us. And then in July or whatever we appeared and we just ignited this thing and pretty much created $400 million market cap while the professionals, hedge funds, all of them missed it. And I kind of find it funny because I see these knuckleheads on Twitter talking all kinds of nonsense about whatever they want to come up with, but the reality is that they missed it. And the reality is that the little guys, all of the little guys like us saw the opportunity, finance the company ourselves and create a success without praying to hedge funds and brokers. Please, please give us money for drilling. No, we're like, we don't need you. We can do it on our own and especially now that they have $30 million. Hedge funds, you know what you can do. I'm not going to say what I really want to say because I might get in trouble with Oroco for swearing a little bit too much.
Ney Torres: [00:41:06] And the podcat too, and the Apple podcast so have you thought about starting your own hedge fund?
Mariusz Skonieczny: [00:41:12] Me? No. Well, see, that's the thing. That's the thing is that the experience that I had during those five years that destroyed me. Because yes, I started managing money in 2009 made huge amounts of money in 2009, but you know how it is in managing money, they want to see results. So, yeah, after I was up 400% in 2009. I got a lot of clients and then they did okay in 2011, 2012. And then those five years absolutely destroyed me. I lost every single client except three. And those three that stayed with me every single one became a millionaire. One guy started with $30,000 and he just emailed me last week like I cannot believe I started with $30,000 and I'm a millionaire. I mean, of course I could say, Hey I'm the greatest thing on the planet. Give me money. No, no, thank you. I just don't want to do this anymore. Too much stress instead here's my website, Microcap Explosions. Give me your $1,500 a year. Do whatever the hell you want with your money if you lose it, don't complain to me but be responsible for your own investment decisions. I'm just providing you with ideas. I tell you what I invest in and you do what you want with this money. That's how I want it. Yes, I can have a plan to be the next Bill Ackman or whatever. I really don't care. I just want to have a good life does it really make any difference if I have several million or billion who cares it's it doesn't matter.
Ney Torres: [00:43:10] Exactly. That's what a good value investor will say. All right, man. It's been really a pleasure to talk to you, man. And hear more about your story anything else you would like to say before we finish this episode?
Mariusz Skonieczny: [00:43:23] No. No, thank you thank you for chatting again. And let's continue monitoring some of the investments that we have, continue monitoring Oroco and I just hope that we all prosper.
Ney Torres: [00:43:38] I like to think in relationships in decades, so I'm sure we'll be seeing each other for a while. Well, thank you so much. This is all for today. See you on the next occasion.
A beginner trader on her journey of self-discovery, spiritual awakening, and she might just pick up "financial freedom" along the way
David Flood from elementaryvalue.com and Jan Svenda https://jansvenda.com/ took the time to check 7000 of small, obscure stocks. That´s exactly what I think a young Warren Buffett would do, if he had to start again from 0.
Lucky for you, they tell us what they found in this search of years, just wait to hear this story.
In the interview, Adam Smith asked Warren about the advice that he would give to a younger Warren Buffett if he entered the markets today. This is what Warren replied:
Adam Smith: If a younger Warren Buffett were coming into the investment field today, what areas would you tell him to point himself in?
Warren Buffett: Well, if he were doing – if he were coming in and working with small sums of capital I’d tell him to do exactly what I did 40-odd years ago, which is to learn about every company in the United States that has publicly traded securities and that bank of knowledge will do him or her terrific good over time.
Smith: But there’s 27,000 public companies.
Buffett: Well, start with the A’s.
The most sold author on investing in gold and silver Mike Maloney, and I have a conversation on why I think Warren Buffett is probably wrong about Bitcoin.
Quick interview with Evan about how your investment style changes as you invest other people´s money.
After years of studding Buffett I figure how to generate 50% a year... Is not what you think.
“If I was running $1 million today, or $10 million for that matter, I’d be fully invested. Anyone who says that size does not hurt investment performance is selling. The highest rates of return I’ve ever achieved were in the 1950s. I killed the Dow. You ought to see the numbers. But I was investing peanuts then. It’s a huge structural advantage not to have a lot of money. I think I could make you 50% a year on $1 million. No, I know I could. I guarantee that.”
-- Warren Buffett
How to go global?
Brad Sugars started the ActionCOACH brand in 1993 in Brisbane, Australia. Today the company is ranked as the leading business coaching franchise by Entrepreneur magazine. ActionCOACH operates in over 80 countries and has more than 1,000 coaches around the world, coaching 15,000 business every week. The franchise has received numerous awards including Fastest Growing Franchise, Franchisee Satisfaction, Best Overall Company and has been named the number one business coaching franchise in the world every year since 2004. Using the coaching strategies that have helped thousands of companies around the world, Brad Sugars and his executive team helped lead ActionCOACH and its coaches to some of its most profitable and best years ever... in the face of challenging economic conditions. Brad Sugars and his team continue to build “business re-education” to new, more innovative and exciting levels.
What could you do if you are starting from $0, with the right education?
Brad Sugars started the ActionCOACH brand in 1993 in Brisbane, Australia. Today the company is ranked as the leading business coaching franchise by Entrepreneur magazine. ActionCOACH operates in over 80 countries and has more than 1,000 coaches around the world, coaching 15,000 business every week. The franchise has received numerous awards including Fastest Growing Franchise, Franchisee Satisfaction, Best Overall Company and has been named the number one business coaching franchise in the world every year since 2004. Using the coaching strategies that have helped thousands of companies around the world, Brad Sugars and his executive team helped lead ActionCOACH and its coaches to some of its most profitable and best years ever... in the face of challenging economic conditions. Brad Sugars and his team continue to build “business re-education” to new, more innovative and exciting levels.
Today, I have the honor to talk to Mr. John King. You may know John because he wrote a very important book called "Tribal Leadership", maybe one of the top 20 books in leadership. And as business is about relationships. If you're going to understand business, you have to master relationships. Welcome to the show, John...
Why invest in tankers now could be a good idea? with Mariusz Skonieczny
Historically Tankers have been a terrible business... but something may be changing, and fast.
stng - Scorpio Tankers Inc
tnk - Teekay Tankers Ltd
eurn - Euronav NV
lpg - Dorian LPG Ltd
dht - DHT Holdings Inc
Mariusz Skonieczny found a remarkably interesting stock $OCO, Oroco when it was trading at a couple of cents per share, today that stock trades a $0.43, and he thinks there is plenty more to come. Have you ever wondered how a 100 bagger looks like? yes, that is 100 times your investment. Well... here is the story.
The story of how Veerle van den Berg (MD) at 28 is starting on her path to financial freedom through real estate
Dan Schum is 39 year old engineer living California with his wife and 3 kids. Schum started investing in 2013 with a lot of book reading. He focus on tiny companies with most having a market cap less than $5M, has invested his entire retirement plus some after tax savings in these stocks.
Started a blog nonamestocks.com in 2015 where he writes about stocks he owns. Some of the stocks Schum owns are dark so he has also written posts about dark stock related issues like SEC rules, otcmarkets categories, and brokerages that will allow this type of trading.
Stocks referred in this episode:
InfuSystems Holdings Inc - INFU
Greystone Logistics Inc - GLGI
TEL-INSTRUMENT ELECTRONICS -TIKK
IEH Corp - IEHC
Technical Communications Corporation - TCCO
Dynatronics Corp - DYNT
Hydromer Inc - HYDI
Robert Ross started in California as a consultant, went through an IPO, went to Montañita Ecuador and the "ME Hotel & Villas - Montanita Estates" to live an amazing life style.
In this episode we talked about the story as well as the difficulties he had to face to do it.
Check it out!
https://www.montanitaestates.com/
Today Im talking with Roger Bryan about how to start an Ecommerce Business now a days
"We had 300,000 individual items on our shelves and we had over a million books sitting, waiting to be sorted. We were selling approximately 3 million books a year. Throughout the world, both online, individual, and then in bulk to a lot of the African countries."
Today I'm interviewing Mary Buffett on value investing and also stories about Warren Buffett which you probably have never heard before!
I certainly enjoyed interviewing Mary. On a personal note, I was not expecting that she would be so cool. I learned, once again, a great lesson: "There's no better investment than being a great human being; it costs nothing, and it pays off great dividends." Thank you, Mary.
Mary Buffett
Ney Torres: [00:00:00] Hello everybody welcome to the show. Today I have the honor of interviewing Mary buffet. How are you Mary?
Mary Buffett: [00:00:06] I'm great. Thank you.
Ney Torres: [00:00:08] Hey, before we start I really wanted to thank you for your time. is really , a big honor. I started studying, investing with your books, and I really appreciate it and it comes to full circle now.
Now I'm talking to you and thank you so much for this opportunity.
Mary Buffett: [00:00:21] My pleasure Ney. Honestly. Thank you.
Ney Torres: [00:00:24] Can we start, for the listeners that maybe haven't read the books, who is Mary buffet?
Mary Buffett: [00:00:29] Well, I was, a singer, song writer in the music industry since I was 14 years old. And actually I was living at the time in Laguna beach and I was making, I had a business, I was making skateboards at the time with Tony Alva, who was the world champion skateboarder. And, I met Susie Buffett, Warren, Peter sister. So Warren has three children, Howard, Susie, and Peter and Susie lived. Down there. And we became really great friends.
And she said to me, Oh, you've got to meet my brother. He's a musician, and you got to talk to him and help him. And I thought, Oh! That's the last thing I want to do is meet another musician. I had gotten out of the business, you know? But as it turns out, we met and immediately fell in love and we met and married in almost three months.
It was just, yeah, it was really like that. He was living in San Francisco. He had just rented a house that was too big for him, and I was working with the company that was based in San Francisco and I was going up there and he said, you know, stay at my house. And I did. And I saw his studio and we talked all about his business.
And I said, you know what I'll I'll be your manager. I actually, you need help. So, I moved up to San Francisco and actually Susie buffet, his mom who had an apartment near us, I stayed at her place. And, And then shortly after Peter asked me to marry him and I said yes, and that was that.
Ney Torres: [00:02:06] I can not believe that.
Well, I've never heard his story before.
Mary Buffett: [00:02:09] Yeah. And I really, at the time, I had grown up in California, well, I was born in Chicago, but I really grew up in California and I went to Beverly Hills high school. Cool. So at that time, the only thing I knew about his father was that he owned see's candy and bluechip stamps.
I think maybe he hadn't owned blue-chip. I think Charlie (Munger) did. But, you know, and I thought "Great! Free candy", you know, little did I know there was no free candy with Warren, but, I had grown up around plenty of people whose parents were wealthy, but you know, I didn't see him as a millionaire... It was... he didn't live like a millionaire.
It was never really discussed.
Ney Torres: [00:02:50] You know, and I will love to take this opportunity for this interview to just address that, because I find that incredibly fascinating. You would believe that being around Warren, you start absorving all of this... just how to analyze businesses, pick up stocks, but turns out like Peter was not interested in that.
It looks like none of his sons and daughter. It turned out they didn't like it. I mean, maybe they didn't even know what he was doing. Right?
Mary Buffett: [00:03:17] Well, you know, it's, I think. No Peter loved music, and that's what his mother, Susie really, you know, stood behind him. Howie (Howard Buffett) , you know, later wanted to learn more about the business, to be honest with you.
I think Susie ,little Susie, was probably the most qualified, but. At the time, you know, women really weren't thought of in the same way as taking over, but it's a pretty big shadow to walk in, you know? To be honest with you, it would be very difficult to be, you know, Warren's child and get into the same business that he was.
Ney Torres: [00:03:57] Yes. Yes, I agree. I agree. He's considered the best investor in history. Actually.
Mary Buffett: [00:04:03] Better. Yeah. 55 years of amazing returns. Nobody's done that.
Ney Torres: [00:04:08] Could you told us a couple stories? For example, I bet, you have personal stories about the Nebraska furniture Mart. He went and bought this huge furniture Mart.
How did it looked like? What happened then? How do you guys find out?
Mary Buffett: [00:04:23] I remember. That when we... cause we went to Omaha several times a year for vacations and stayed at his house and so on. And the Nebraska furniture Mart was a very successful, very large furniture store run by Rose Blumkin, who was a Russian Jewish, Russian immigrant, who didn't read or write.
But she certainly knew how to sell carpet and, what she would do, would she go to the suppliers and she would say, you know, I'm going to buy all of your inventory, but you got to give me a really great price. And then it would allow her to turn around and offer, you know, rugs and furniture and everything.
At a really decent prices, and we just remember that people would drive from other, you know, from Iowa, from different States. You know, they drive to Omaha just to shop at the Nebraska furniture Mart , and it was run by her family, her sons. Still is run by the family. And, I think he, it was his birthday and, he went to the Mart and met with Mrs Blumkin and said, I want to buy, I want to buy the store. And she said, I think it was something like 65 million and not a penny less. And he's like, "Yes!". And shook hands on it. Never looked at the books, understood the business was, you know, really had a, had a lock on everything and went back and got her check and made sure that the family was gonna still run it because he doesn't want to change management.
Ney Torres: [00:05:59] So that was, that's how you lived it? Well, cause that's what we know now. But, back then? Did you just know he wrote a check for $65 million and walked into the store?
Mary Buffett: [00:06:09] No! No. We, we never heard about the price. Later, of course I found out, we just, you know, knew that he bought it and we were like, "Oh", you know, a "great", haha it's just like one time he called me and, we were in San Francisco doing our music and he's, he called me and he was like, "Well Mary so, well, nobody is getting in my business, so I thought I'd get in yours hahaha. I bought ABC" and I was like, "Oh, great, I'll, I'll, I'll tell Peter" and I got off the phone. I said, "Peter, dad, your dad called and he bought ABC. I wonder what that is?". And Peter and I were like, A... b... c... And then we just looked at each other, realize "Does he mean the network?", you know? And, that was really when people, of course he was, he bought it with cap cities, Tom Murphy. and, that was really the first time people started to know who Warren was. Because that was a pretty big, obvious purchase. You know, there were only three networks still at that time.
That was before cable really took off.
Ney Torres: [00:07:18] So it's kind of a monopoly kind of economics. But how did you and Peter feel when you find out? "Oh! He bough the network".
Mary Buffett: [00:07:27] We where surprised. I mean, for us. I, you know, my first reaction was great. You know, we write music. ABC has a lot of shows that we can write the music introduction to, but that of course never would happen with Warren.
You never got, you never got a break. I mean, I went to New York. And Tom Murphy had organized for me to have a, you know, a whole, I went to ABC and met Diane Sawyer, and I went and met everybody. But, and I, I talked to the producers and gave them Peters in my music. And, but it never would have happened because Warren didn't believe in.
you know, in, in That he didn't believe in helping.
Ney Torres: [00:08:13] Yeah, yeah, yeah. I understand that.
Mary Buffett: [00:08:15] It was very difficult actually because people who knew him and then also always assumed we were so rich and didn't need the money. But. In fact, you know, we were running a business and, so it made it more difficult.
The, the, you know, people's opinion was different than the reality.
Ney Torres: [00:08:34] And I bet if anything that made it made it harder. Cause you know, if you start doing something successfully, you're, you're the daughter in law, the owner or one of the owners.
Mary Buffett: [00:08:42] Yeah. Yeah. Well. We never worked for any of his companies. We never got free candy.
Ney Torres: [00:08:50] It's funny, the other day you were telling me that you went to Nebraska furniture Mart and you didn't get a discount. If it wasn't for Mrs B?.
Mary Buffett: [00:08:58] That's right. Yeah. Mrs B would give us a discount and, see's candy, we would buy every year for the people we worked for. And, at the time, Chuck Huggins was the president, and Chuck would give us a discount, but everybody would say, you know, don't tell Warren that we're giving you a discount.
Ney Torres: [00:09:17] One of my question is as Warren, as a father in law, He looks to be really radical. I remember seeing this documentary once where he mentioned that he got , that "innerscore card" , from his dad, right?
Mary Buffett: [00:09:30] Right. He did have great respect for his father and his father was a Republican. And, it wasn't until grandpa died. That Warren changed to being a Democrat because Susie had a lot of influence on Warren, and she was, you know, working for equality for blacks and she was involved in all kinds of things that were very, you know, very, progressive.
Ney Torres: [00:09:57] And that opens the door to my questions about Sussie. I'm really interested in to know the woman behind Buffet. Becuase I don't think we know much about her.
Mary Buffett: [00:10:08] Warren admits to the fact that if it wasn't for Susie, he could never have been who he is.
She was his absolute, partner in life and she, you know, basically raised the kids and did her job, and left him to do his. Because, he really worked all the time. So it was, it was amazing. And Susie was one of the most generous kind people that you would ever want to meet. she always was helping people.
she was an amazing, funny person, a total free spirit. very, very kind of opposite of Warren, but very, you know, she had a lot of friends and. Yeah, she, she was, she was very different than when she left Omaha, as everyone knows now . She was a singer, and she sang at a place called the French cafe in Omaha.
And the, person who was the, not a waitress, but she, you know, sat you down. It was Astrid and Astrid and Susie became friends. And Astrid, I believe, had taken care of a few other older men, making sure they were okay. And when Susie left, she asked Astrid to move in and take care of Warren. And that's what happened.
Really remarkable.
Ney Torres: [00:11:44] Really remarkable. And he worked for them.
Mary Buffett: [00:11:46] It did. A lot of people didn't understand it. And we would always have, you know, a few weeks at Christmas and new year's in Laguna beach together. And Susie would go to Omaha and stay with her best friend Bella Eisenberg and, go out to lunch with Astrid , and Susie and Warren talked absolutely every day.
There is nothing that she didn't know about.
Ney Torres: [00:12:08] I don't know if I read this in the biography of Warren , or maybe somewhere else. I'm not sure how true it is, it's just my memory. But I could swear that U2 Singer Bono spend a lot of time with her and said she was the "highest emotional intelligent person" he had ever met or something between those lines.
Mary Buffett: [00:12:26] Yes, I would agree that that's a very good, a good way of putting it emotionally. She was just an amazing person. . .
Ney Torres: [00:12:35] We have some questions from the listeners. Now... can I start asking you?
Mary Buffett: [00:12:39] Sure.
Ney Torres: [00:12:40] Awesome.
Let's shoot.
How is Warren still alive after drinking seven Cokes a day?
Mary Buffett: [00:12:45] Well. Add to the seven coke's, McDonald's hamburgers and McDonald's breakfast and Bronco burgers and Sees candy. He thinks, you know, he always thinks that it's, it's all of the, all of the, whatever it is, and the Coca Cola that keeps him alive.
So I honestly, I don't know. And he. I mean, when you go to dinner with him, you know, whether it's at the steak house, he literally will take the top of the salt shaker off and pour salt on his, on his steak. So everything that he eats, and once someone asked me, David and I were doing our first book interview with Bloomberg, and I thought for sure they were going to ask me about the zero coupon bonds, which is a really kind of complicated thing that.
Warren had just bought and I was waiting. And you know the first day, that question, he said, so what does Warren eat for breakfast? I was like, what? And it just so happened that he had been to our house and I made him breakfast and it was two scoops of Vanilla ice cream, some chocolate syrup dusted with malted milk.
Ney Torres: [00:13:58] What?! Are you...? Wow. I didn't know it was that bad cause I'm pretty bad, I love Coca-Cola and all of that. So I now have an excuse to keep doing it. Thank you very much.
But... for breakfast... ice cream. That's wow. .
Mary Buffett: [00:14:09] Yeah. He is basically a child. A kid. He eats like a kid.
Ney Torres: [00:14:14] Yeah, I bet that's where he gets all his energy too.
You know a lot of sugar just to Brian and run around.
Mary Buffett: [00:14:20] She has sugar and caffeine. Yeah. Sack
Ney Torres: [00:14:22] How do you think Warren worked all day in the attic for six years with his family downstairs? I asked for other investors like I do, cause it's very hard working at home, especially doing the kind of mental work he did, and the kids downstairs running around.
Is he able to just disconnect completely or was it a big house?
Mary Buffett: [00:14:43] well, I mean it was a decent size house and of course the attic was separate, but then he also downstairs, he had his. T V room and his room where he's his study and you know, he always had the phone, the television and reading, and he could block anything out.
I mean, we always talk about the time that Warren was away. I think he was in New York with Katherine Graham, who owned the Washington post and he did too, at the time. And, and during the time that he was away, Susie, took up the, the, the carpets and there were hardwood floors and painted the whole house and literally changed everything.
So he would always park in the garage, come into the kitchen, grab a Coca Cola, then walk through... to his den. And so we were all really waiting for him to, you know, see that the entire house had changed. I mean, there weren't any carpet. I mean, it was totally different. And that day he, he came in and did the same thing, went to his den, and we all kind of went in there and we're like, "Well?", and he said.
" What?"
" Do you see anything different?" I mean,
He's like, "Nope". You know, we're like, "the whole house has changed since different color. There aren't any carpets".
He absolutely didn't even have a clue. It wasn't, you know, his mind was someplace else.
Ney Torres: [00:16:10] Maybe he's just wired differently, obviously, right? , dont you think?
Mary Buffett: [00:16:14] Well, yeah, I mean he's in his head. You know , it's like another time he and Charlie Munger where in New York and they were walking down the street. They were talking, and Charlie realized he had to catch a flight and he just went over and got a cab and left and didn't even say anything.
And it wasn't, but for another block or something that Warren realized wheres Charlie? you know, so they're, they're just in their head.
Ney Torres: [00:16:42] Is Chralie like that? Did you have a chance to meet Charlie?
Mary Buffett: [00:16:44] Oh yeah. Charlie and his wife used to come down at Christmas time cause they were in California and Nancy and we'd always have fun with them.
And then they came to San Francisco and Peter and I showed them the recording studio. He had a lot of fun in there. And yeah, Charlie is a great guy. He's not like, you see him at meetings. He's not as quite as tough. He's actually very sweet,
Ney Torres: [00:17:11] they hit it off. It's, it's amazing how they're very logic.
Mary Buffett: [00:17:16] Yeah. Yeah. Charlie is one of the smartest guys, and he was a great balance for Warren. , all those years. They both studied under Benjamin Graham. Not at the same time. I think Charlie went there first and then Warren went a year later. so yeah, they, they both, they're great compliment.
What else can I say? You know, they've been together, Charlie. I mean, back in the day in, in the sixties, in 69. Warren realized that, he saw a bubble in the, in the market, and it reminded and resembled the 29 market and it basically stock prices, so-called at that time, the nifty 50, you know, so if you own those nifty 50 stocks, it was impossible to lose.
But he noticed that they were so high. Costs are preposterously high, that, that it would be virtually impossible for those companies to earn enough in the future to justify their price. So in 1969 he sold all of them and he, we went to cash and Charlie stayed in the market but Warren, you know, he went all to cash.
And he sat on that cash until 1973 so for years, he just, you know, researched companies. And at 73, when the market tanked, he stepped in and bought companies at bargain basement prices. And Charlie lost a lot of money at that time. So it was after that. In the sixties that Charlie, really became more, more interested in what Warren was doing.
Ney Torres: [00:19:00] You told ones that I need interview, that you went downstairs in the basement were Warren kept a lot of the letters he had written and you had a chance to read them and that you got a chance to see how he thinks. What did you find there?
Mary Buffett: [00:19:12] Oh goodness. you know, they were, they were letters to his.
Early stockholders and family, and every year at Christmas time, that's when he wrote his annual report is his letter to the annual. And he had lot of a lot of those. And you know, what I learned, just going through those letters were things like, you know, the characteristics that he looked for. In companies that, for instance, the three characteristics I can think of, or you know, companies that have been around a long time because he knew that the product that they would sell would be the same 10 years from now.
And that makes the earnings more predictable. So for instance, Coca-Cola, Kraft foods, Wells Fargo, Wells Fargo has been around since the horse and carriage days, for goodness sake. A lot of the companies. Are over a hundred years old. So that was one thing. And the other thing was that he understood what the companies did.
it wasn't likely that a company would have to morph into a completely different kind of business model in order to survive. You know, an example would be union Pacific. You know, the railroads, they're, you know, their railroads not going to change. He loved railroad. And then the other example I think was that the company had to have some kind of monopoly, or it would be the low cost producer in its category, like Nebraska furniture Mart or Costco.
And in terms of a monopoly. You know, most people don't realize that "bandaid" is a registered name by Johnson and Johnson. And even if you don't buy the Johnson and Johnson bandaids, when somebody gets a cut or something, you'll say, can you get me a "bandaid"? You know, you still call it a "bandaid". And that that really owns a piece of the consumer's mind. So those were the kinds of things I learned and also Warren gave me the intelligent investor. He's like, Oh Mary, you should read this book. Cause he knew I was involved in business. For Christmas I remember nobody knew what to get him. And I was just. And then I realized, Oh, I'll give him our, our business of returns.
You know, I'll show him our balance sheet and I put it in a nice little plastic cover and Oh my gosh, that was the best present he could ever have.
Ney Torres: [00:21:46] so you read the intelligent investor, you realize warring was buying differently than, than Benjamin Graham used to. Were you ever inclined to invest more like Benjamin Graham or, or just stay with the big companies.
More predictable.
Mary Buffett: [00:22:00] Yeah. I mean, Benjamin Graham had a wonderful, you know, ideas about companies and evaluating them and so on. But he, he really didn't hold on to them for very long. Well, sometimes it would just be two years, you know, and then he'd sell it at a, at a profit. presumably. but it was Phillip Fisher.
Other people that worn, studied and that under made him understand that the longterm was really the thing
Ney Torres: [00:22:33] you don't like or you never tried. And that man's or this dark, obscure stuff that nobody knows of.
Mary Buffett: [00:22:40] They basically, Benjamin Graham taught him that accompanies that had a durable competitive advantage over other companies.
We're actually the first to recover after the great depression and the, I think that was really useful in, selecting the long term prospects that Warren was buying. especially in 73 when he had all that cash.
Ney Torres: [00:23:06] What will you say is your circle of competence, Mary?
Mary Buffett: [00:23:10] Well, but you know, it's changed. I mean, my circle of competence obviously was the music and entertainment business for years.
And, I would say now is probably financials. It's banks and, consumer monopolies, consumer goods really things I understand, you know, I don't understand tech, for instance very well, but, You know, I did buy Apple and Lauren loves apples. One of his biggest holdings. But you know, he loves Apple because, you know, it's a great company.
I mean, it has very low debt. It makes a great deal of money. it hits all of the things. That he loves. So it has all of those business characteristics. I guess that's my circle of competence now. I love banks. As a matter of fact, on buffet online school, I do a webinar every month with Sean and a few other people, and I think a couple of webinars ago, we talked about banks.
And why they were good investments. And we went through several different banks and showed their earnings. And last, the one I did last week, we talked about companies that were going to survive the Corona virus and why? And the effect it's had. So they use those...
Ney Torres: [00:24:36] sorry,
can you those again where people can find you?
Mary Buffett: [00:24:39] if you go to buffet online school, you can join and, I think it's that easy. Once again, I'm terrible on the computer, so I never go on it. Rarely do I do it. but you can just go to buffet online school and asked to join. And, it's not that expensive. And then you get all of the webinars and they're there.
They stay on there so you can listen to them again. And again,
thank you very much. And one last word for all the women listening. I am really adamant on asking women listening to the show to share this too. I do think that we should promote investing more in women. What can you say as a woman to women that are listening right now and thinking about investing?
I think I, first of all, I think that women are probably better investors than men because they understand products and brands. And you know, women who got to realize we live longer than men. We don't get paid as much as they do for the same job. And, we generally will spend 13 years of our lives as an unpaid caregiver to children, our parents, and our husbands.
And so it's more important that a woman take care. You know, I always say a man is not a plan. So we have to be independent and even if you're married, I would have my own investment portfolio and save my money. I always tell my daughters, you know, Oh you love that cashmere sweater.
Well that $500 in 30 years, they cant stand when I tell them these things, but I'm like, you know, if its compounding at 20% that's going to be millions of dollars. So think about that. When you want to buy that sweater, when you want to spend $500 it's really that. It's a way you have to change your way of thinking, and that's what Warren does.
You know, he thinks about money in a different way because when he's, he knows, like I used to say, when he drove his old VW beetle, people thought he was just really cheap, but he knew the $20,000 for a new car back then in 10 years, if he was compounding over 20% would be worth in 30 years. It would be worth.
9.9 Million dollars, and that was just too much to pay for a car, you know? So, that's the way you have to change your thinking as a woman and teach your children, at a young age that saving some money and earning some money, even if it's just cleaning up your room or small things, earning money.
And. Saving it and putting it away is a good thing.
Ney Torres: [00:27:22] Thank you very much for your time, Mary. It's been a pleasure.
Mary Buffett: [00:27:24] Oh, you've been wonderful. It's been my pleasure. Any any time Ney.
Ney Torres: [00:27:29] Thank you very much. See you in the next occasion.
Mary Buffett: [00:27:31] Okay, bye.
Today we are talking to Roger Brian, and how he took a small business up to $110 million in just seven years through search engine optimization and some different systems. Roger's the kind of person you call when you have in your business income of around six digits and you want to take it to the next level, seven digits and forward. So I think you're going to enjoy this episode.
Today we are talking about 5 very cheap stocks
- STRI -STR Holdings
- SPRT - support.com
- MILC - MILLENNIUM INVESTMENT & ACQUISITION CO INC.
- LTRE - Learning Tree International, Inc.
- CBAI -CBA Florida Inc
the evolution of a value investor with Jae Jun founder of old school value and GorillaROI.com
"... Like many other value investors before me, that's pretty much the start of the journey. And so, I really started a website, only to document everything that I was learning because I was going through all these books, and nothing was really in a logical order for me. So, I was just rewriting and trying to organize my thoughts on paper. And that's how Old School Value came about..."
Emily Muiruri and I talk about cover calls, and option strategy that generates 2.9% every 30 days in cash flow. If the stock goes up, stays flat or falls. And why we need more woman in trading and investing
In this episode had the pleasure of interviewing Eric Schleien about his new role as an activist investor. Over the past decade, Eric has trained thousands of individuals including board members of public companies as well as several Fortune 500 CEOs. Eric specializes in organizational culture and has become a leading authority on organizational culture in the investment industry.
Eric has been investing for 15 years and has been using breakthrough coaching methodologies for over a decade. Eric had the insight to combine proven coaching methodologies with shareholder activism techniques to create an entirely new model for shareholder activism that was more reliable and created greater sustainable results in a rapid period of time. On average, Tribal Leadership produces a 3-5x increase in profits of culturally troubled companies within an average of 24 months or less.
Eric currently resides in Philadelphia, PA.
Staying In Touch With Eric Schleien * Podcast * Facebook * YouTube * LinkedIn * Twitter * Instagram * GSCM * Proxy Battle Services
14) What is Tribal Leadership and how to use it to value investments Eric Schleien
I had the pleasure of interviewing Eric Schleien. Over the past decade, Eric has trained thousands of individuals including board members of public companies as well as several Fortune 500 CEOs. Eric specializes in organizational culture and has become a leading authority on organizational culture in the investment industry.
Eric has been investing for 15 years and has been using breakthrough coaching methodologies for over a decade. Eric had the insight to combine proven coaching methodologies with shareholder activism techniques to create an entirely new model for shareholder activism that was more reliable and created greater sustainable results in a rapid period of time. On average, Tribal Leadership produces a 3-5x increase in profits of culturally troubled companies within an average of 24 months or less.
Eric currently resides in Philadelphia, PA.
Staying In Touch With Eric Schleien * Podcast * Facebook * YouTube * LinkedIn * Twitter * Instagram * GSCM * Proxy Battle Services
You feel you have no time? I know you are busy! Today we are talking with Samantha Barber about Virtual Assistants (or PA for Personal Assistant) and how you can use them to liberate your time. Don’t be afraid to delegate. Here is how to do it, and it may be way cheaper than you think!
In this episode, I'm joined by Trey Henninger of diyinvesting.org to discuss a unique take on value investing. Today Trey will tell you about how he beats the market while holding a portfolio of only 5 stocks, what stocks to look at that will give you a huge advantage in the marketplace, a huge company you already know that provides an incredible investment opportunity right now, and a "dark stock" you've probably never heard of that hasn't gone down during the market crash and is still trading at a fraction of it's true value.
On today's podcast, we're speaking to Martijn Van den Berg, a man who went from deep debt to financial freedom in only 16 months through a savvy approach to real estate.
Martijn will tell you about why you don't have to be rich to get started in real estate, the best ways to source deals (and which ones to avoid), creative ways to get financing (plus how to get deals without investing any of your own money), and the lessons he learned from the big mistakes he made when first starting out...
Today I have the pleasure of interviewing the man I consider the best trading coach in world, Mr. Van Tharp. Van is the author of 13 trading books and an expert in NLP modeling.
In this episode, Van will tell you about the three ingredients you need to master any task, why his objectives have nothing to do with making money, how language changes the way we perceive the world (and what's possible to do in it), and how to change your beliefs and become a better trader...
On today's episode, I'm joined by Jason Everett of HighPerformanceSalon.com to talk about the importance of focusing on a specific niche in your business.
You'll learn what people get wrong about sales (and why that causes them to hate it), the real key to successful sales Jason learned that helped him sell over $20 million worth of products in his career, how he transitioned from general business coaching to focusing only on beauty salons, the mentalities and skills you need to transition from employee to business owner, and Jason's 5 rules for picking the perfect niche for your business...
On today's podcast, I am back (once again!) with net net stock expert Evan Bleker.
This week he brings you another great stock pick from the portfolio he manages for his own clients and more insights into how you can get started investing in net net stocks like:
- How many stocks to have in your portfolio...
- How these companies fall below the radar of the big investors (and why that's an opportunity for you!)...
- What ratios you need to pay attention to...
- and the major questions he asks when looking into a company's background.
On today's podcast, net net stock expert Evan Bleker returns to teach you more about his favorite investment strategy and give you a specific stock pick to help you get started with net net investing.
In this episode we'll discuss...
- How to approach creating a portfolio of net net stocks
- Why this is a long term strategy and not about day trading
- Net net historical returns and studies
- The difference between penny stocks and net net stocks
- How to start building your portfolio today (and the strategy you should use over the next year)
- Evan's in depth analysis of a specific stock he recommends
On today's podcast, I'm talking with my friend Bieke about what it takes to get started investing in real estate. When you hear most experienced investors speak, they often forget what it's like for beginners.
So in this episode we're going to cover the struggles new investors face, balancing fear with opportunity, how much work goes into finding the right property, and finally I do some analysis on Bieke's property and give her an idea on how to make 2x more from it than she expects...
If you've ever wanted to invest in real estate but wondered how you could possibly get the money, then this episode is for you...
Today I'm joined by my friend and fellow real estate investor Bram who will tell you all about how to get started in real estate crowdfunding. We'll discuss how to locate the right project, which platforms you should use (and the requirements to get listed), and we'll take a deep dive into the numbers from a project Bram is raising money for right now...
Today I'm joined by Evan Bleker, Founder of Broken Leg Investing and NetNetHunter.com. Evan has over 15 years of investment experience and he's here to guide you through the world of value investing and one of the best kept secrets on Wall Street - Net Net Stocks.
In this episode, Evan will tell you all about:
- The mistakes people make when they try to imitate Warren Buffett, the "Warren Buffett trap"
- The challenges of value investing and key mentalities to overcome them
- How to balance a quantitative and qualitative approach to identifying investments
- How to start investing in "Net Net Stocks" - What are they? Where do you find them? How much of your portfolio should you invest?
Evan will cover all of this and much much more...
In this episode, I'm joined again by my friend and mentor Victor Menasce. Today we're going to tell you all about the long term real estate investment strategy we've both used to create infinite returns on a consistent basis.
You'll learn about:
- How Victor transitioned from his job in the tech industry to real estate
- Why the 2009 financial crisis wasn't actually a real estate bubble
- What bubble Victor expects next (and the assets you should invest in to protect yourself)
- Why passive income isn't so passive
- What classes of properties you should invest in
- What kind of bank you need to work with
- And much more...
On this episode, I'm talking to my good friend and mentor Victor Menasce. Victor is a commercial real estate investor, coach, and host of the daily podcast Real Estate Espresso.
Today he'll explain how he grew his podcast from 0 to over 500,000 downloads in just two years with advice on how he records and scripts his show, structuring a podcast to stand out from the crowd, and how to use a podcast to increase visibility in your industry and build better relationships.
So I decided to start a Podcast on financial freedom to talk about stocks, value investing, and cash flowing in real estate. On today's podcast, I'm joined by my podcast producer Jason Camps. Jason has produced podcasts for Mike Dillard, Tucker Max, BioTrust, and many more. He's here to share lessons learned along the way and everything you need to know to start an amazing podcast of your own.
Jason Camp
Podcast Producer / Editor / Consultant
Are you a Coach? Writer? Entrepreneur?
Been thinking about doing a podcast for years?
But don't have time to deal with all the nonsense? JAson Camps can help.
Over the past 5 years, he has produced hundreds of episodes that have been downloaded millions of times.
And he'll make this simple for you: Talk into a microphone, send him the recording, and he'll do the rest.
Today well chat about how he can help me, and you, in detail step by step.
so you can focus on what's important - creating great content for your audience!
without any more delays here is is Jason:
Jason welcome to the show.
- Creative Consulting & Coaching
- Editing, Mixing, and Mastering for your Podcast
- Distribution to Apple, Spotify, Stitcher, Google, etc.
- Release Scheduling & Management
- Custom Audiogram Creation
- Episode Structure Creation (Music & Intro/Outro)
- Basic Show Notes (Links & Topic Outlines)
- Equipment Advice and Optimization less