My Worst Investment Ever Podcast

BIO: David Segura is an accomplished entrepreneur and investor. He currently serves as the CEO of Glassbox Media. This podcast platform enables Podcast Hosts to grow their brand revenue and new listener base with direct investment and technology support.STORY: David invested in and joined a startup in New York. The company was growing fast, and after their Series A funding, they got convinced by the lead investor to expand to London and other international cities prematurely. The company could not sustain the growth.LEARNING: Be deliberate with your growth plans. Focus on quality growth that you can build on. “Be deliberate with your growth plans.”David Segura Guest profileDavid Segura is an accomplished entrepreneur and investor. He currently serves as the CEO of Glassbox Media. This podcast platform enables Podcast Hosts to grow their brand revenue and new listener base with direct investment and technology support.David previously founded Giant Media, serving as the CEO from launch through acquisition. The company was an early Video Advertising Exchange that included AMEX, L’Oreal, and Dollar Shave Club clients. David launched the company in 2009, and an AdTech roll-up acquired it in 2014.David is also an active startup investor with upwards of 60 investments.Worst investment everDavid got interested in a startup company based in New York and invested in 2017. He believed that the genesis of that business was terrific, and the founder was brilliant. The founder even convinced him to get on board as an investor and as the chief strategy officer.The company was doing well in New York, and they decided to expand to other cities. To do so, the company had to raise funds. They raised $12 million in their Series A, and the lead investor was British, and they wanted the company to devote a lot of that capital to expand into London as soon as possible. The data indicated that they should double, even triple down in New York and not expand internationally. David tried convincing the founder that expanding internationally was not a strategic decision and they should instead push back. But they didn’t. They just went with the flow and used a significant amount of the capital raised to expand internationally. Not just London, but other places as well. The fast growth was too much for the company, and it couldn’t handle the capacity.Lessons learnedBe deliberate with your growth plans. Sometimes it’s prudent to slow it down to be more sustainable.When investing in a startup, it’s ok not to know what you’re doing or be a little scared.Identify the problem holding your business back and solve it. If you keep ignoring the elephant in the room, you’ll regret it.Andrew’s takeawaysGrowth, in and of itself, is not everything; it’s got to be quality, growth that you can build on. The growth that goes beyond the capacity of the operations to deliver what you’re promising is not good.Whenever you’re expanding, locally or internationally, take the time to look at the risk and return.Actionable adviceWhether you’re the founder, an angel investor, or even a VC, continually evaluate what the company is doing. Be honest with the senior executives and yourself and figure out ways to minimize risk. A lot of times, that means just focusing and narrowing down.No.1 goal for the next 12 monthsDavid’s goal for the next 12 months is to grow Glassbox Media into a US household name that creators and podcast hosts think of when they need help to scale their audience and revenue. [spp-transcript] Connect with David SeguraLinkedInTwitterInstagramWebsiteAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Andrew Henderson is a lifelong entrepreneur, world traveler, investor, and founder of Nomad Capitalist. He helps other investors and entrepreneurs create their nomad strategy, go offshore, keep more of their wealth, and enjoy an unprecedented level of global freedom.STORY: For Andrew, his worst investment ever was being born with US citizenship. He’s always felt that had he been born anywhere else, he’d have had an entirely different life. However, he kept staying because many people would call him a traitor and ridicule him whenever he wanted to exit that investment.LEARNING: Go where you’re treated best. You don’t have to keep your citizenship for the rest of your life. “There are 252 countries and territories in the world. The idea that yours is best at everything, let alone anything, is pretty egregious.”Andrew Henderson Guest profileAndrew Henderson is a lifelong entrepreneur, world traveler, investor, and founder of Nomad Capitalist. He helps other investors and entrepreneurs create their nomad strategy, go offshore, keep more of their wealth, and enjoy an unprecedented level of global freedom.Born and raised in the United States, Andrew left Arizona State University to start his own business. When his first business became successful, he started traveling a little. Within a few years, he began traveling at least half the time.He noticed that even though he was spending over six months outside of the US, he was still paying 43% in taxes! The money he wasn’t giving to the government or spending on travel, he reinvested into other businesses in the United States. But this meant, as those became profitable too, they cost a lot more in taxes.Andrew has spent over 12 years traveling to more than 100 countries, looking for and experimenting with the best places worldwide to employ offshore strategies and reduce your tax bill to nearly 0%. Andrew and his team dedicate their time to helping others get to this life of near-complete freedom.Worst investment everFor Andrew, his worst investment ever didn’t come with a choice – his US citizenship. He’s always felt that he’d have had an entirely different life had he been born anywhere else, say Canada. However, he kept staying because many people would call him a traitor and ridicule him whenever he wanted to exit that investment.But when Andrew realized that he was paying tremendous costs to be in the US, he eventually left and started his nomadic life.Lessons learnedGo where you’re treated best. Don’t hang around with a bad investment that’s not serving you just because there’s some dominance in that market.Build your infrastructure faster when you decide to be nomadic.Andrew’sAndrew’s takeawaysYour citizenship is an investment ultimately given to you at birth, but you don’t have to keep it for the rest of your life.Actionable adviceThere’s nothing wrong with lowering your taxes, and there are always options to get your taxes to zero. If you’re a risk-taker, you can take more risks, hire a lot more people, contribute a lot more, and give a lot back by lowering your taxes.No.1 goal for the next 12 monthsAndrew’s goal for the next 12 months is to build the vision for his team and build a bigger and stronger team of leaders.Parting word “Are you in every part of your life going where you’re treated best?”Andrew Henderson [spp-transcript] Connect with Andrew HendersonLinkedInTwitterWebsiteBookAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Mark was a columnist for Forbes for four years and is the author of the book SOCIALIZED!STORY: Mark started investing in real estate on the west coast of Florida when the market was up, but he didn’t heed to signs of a downturn and ended up making huge losses in 2008 when the financial crisis hit.LEARNING: Know your market and remember that the market doesn’t always go up. Make sure you apply the experience you acquire. “Group knowledge is power.”Mark Fidelman Guest profileMark Fidelman has been named a 2017 Top 20 influencer of CMOs by Forbes Magazine, a Top 25 Social Media Keynote Speaker by Inc Magazine, and a Huffington Post Top 50 Most Social CEO. Mark was a columnist for Forbes for four years and is the author of the book SOCIALIZED! He also hosts a popular marketing YouTube channel.Worst investment everIn 2005, US real estate was booming. A couple of states, California in particular, were increasing in value tremendously. So Mark decided that because California was too expensive, he’d try the west coast of Florida, in Naples, Tampa, or St. Petersburg. He started investing there, and his investments were doing well.The stroke of luck made Mark cocky, and he started thinking he was the greatest investor ever because no matter what he touched, it turned around, and he made a ton of money. And so, even with warning signs in 2007 that the market was going to change, Mark continued to plow ahead, thinking he’d figure out a way out of it. The market overturned in 2008, and Mark’s project turned into a loss.Lessons learnedKnow your market.Make sure your spouse or your business partners are on board with your investment idea.If you’re going into investments in real estate, join a real estate mastermind group.Andrew’s takeawaysRemember that the market doesn’t always go up.Experience is valuable, so as you gather that it, make sure you’re applying it.You don’t get rewarded for not knowing the macro.Actionable adviceGather an advisory board made up of a group of people that know the particular field you want to invest in. Gather all the input from this board and then make a decision.No. 1 goal for the next 12 monthsMark’s goal for the next 12 months is to prepare for a high inflationary environment.Parting words “Be vigilant, overanalyze things, take risks, but make sure you mitigate those risks as best you can.”Mark Fidelman [spp-transcript] Connect with Mark FidelmanLinkedInTwitterYouTubeAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Mabel Nuñez is the founder and Chief Education Officer at Girl$ on The Money, a stock market investing education company targeted to women, minorities, and individuals underrepresented in the world of investing.STORY: Mabel spent so much money and time taking an MBA that didn’t materialize to anything. Her biggest mistake was never building connections while studying.LEARNING: Make connections in your field as you study. Join career associations to make connections in your area. “Use your time as a student to make connections in that field.”Mabel Nuñez Guest profileMabel Nuñez is the founder and Chief Education Officer at Girl$ on The Money, a stock market investing education company targeted to women, minorities, and individuals underrepresented in the world of investing.Mabel teaches highly rated courses centered on stock market investing and is the author of two best-selling books. Through all of her resources and social media, she shares what she has learned (and continues to learn) since starting her investing journey back in 2008. Mabels holds both a Bachelor of Science and an MBA in Finance. However, most of what she’s learned about investing came from experience.Mabel is currently offering an online course Ready, Set, Invest workshop and has extended a 20% discount to all My Worst Investment Ever podcast listeners. Use Code: Abundance2021 to enjoy the discount.Worst investment everWhen Mabel turned 26, she decided to start pursuing an MBA. She took the GMAT and did horribly. Mabel paid for this expensive course to teach her how to master the GMAT, which didn’t help. However, she finally got into an excellent MBA school in New York City.Mabel was excited about getting the MBA because she believed it was her ticket to getting a fancy job on Wall Street. Little did she know that all that sacrifice of going to school part-time and working full time for four and a half years wouldn’t yield her much.After Mabel graduated with a degree, she realized that she had done nothing else but go to school throughout those four and a half years. She wasn’t making connections with people in the field where she wanted to work, and that’s probably why she was never able to build a career on Wall Street despite her expensive MBA.Lessons learnedIf you want to work in the field you are studying in, take your time as a student to make connections in that field.Andrew’s takeawaysConsider joining the associations in your career field to build connections and relationships.Actionable adviceFind a mentor or someone on the same career path as you or more experienced. Don’t just blindly listen to people that don’t know what they’re talking about. Find someone who understands your journey and can give you some valuable advice because the right mentor could save you a lot of time and money.No. 1 goal for the next 12 monthsMabel’s goal for the next 12 months is to use social media more to make a stronger connection with her audience. She also hopes to finish translating her first book into Spanish.Parting words “Take risks because that’s how you get ahead in life but just make sure they are calculated risks.”Mabel Nuñez [spp-transcript] Connect with Mabel NuñezLinkedInTwitterFacebookInstagramWebsiteResourcesAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Henry Eisenstein is a residential and commercial real estate agent and a real estate investor. He has personally sold and been a part of over $120 million worth of real estate transactions.STORY: Henry blindly hired a contractor referred to him by a friend. The contractor was so bad at his job and a project that should have lasted eight weeks took six months. Instead of costing $35,000, Henry spent nearly $60,000.LEARNING: Don’t hire a professional without references. Have good contracts in place that clearly outline milestones and timelines. “Referrals are the easiest sales pitches in the world.”Henry Eisenstein Guest profileHenry Eisenstein is a residential and commercial real estate agent and investor. He has personally sold and been a part of over $120 million worth of real estate transactions.This success comes despite being a two-time college dropout and suffering from suicidal thoughts and depression from age 8 to 18.Henry inspires others through his speeches on entrepreneurship, sales, mindset, and business at colleges and charity organizations around the US.Henry has a coaching program called The Ultimate Real Estate Accelerator. The 12-month program helps realtors create a $1m net worth and design a lifestyle they desire. The regular price is $2,997 but will be $997 for My Worst Investment Ever podcast listeners! DM Henry “STOTZ” on Instagram @henryeisenstein, and he will get you set up!Worst investment everHenry wanted to buy his first investment property as a primary residence using an FHA loan. The property was a four-bedroom family property. He searched for a contractor, and a friend referred one to him. Henry blindly trusted the friend. Everything seemed great.What should have been a  6-8 weeks project turned into a six-month project. Initially, the project was a $35,000 job, but it turned into a nearly $60,000 experience. By the end of it, about 70% of the work was done six months later, and Henry had to fire the contractor before he completed the project because he was still asking for more money, and he was doing nothing.Lessons learnedDo your due diligence up front before you hire anyone.Get 2-4 recommendations at the very least when hiring any professional.Don’t hire a professional without references.Andrew’s takeawaysHave good contracts in place that clearly outline milestones and timelines.Actionable adviceBefore you sign anything with anybody, make sure you get multiple references and see proof of their work.No. 1 goal for the next 12 monthsHenry’s goal for the next 12 months is to buy 100 units in his investment company.Parting words “Don’t hesitate to reach out to the incredible mentors out there. We’re one message away from helping you out.”Henry Eisenstein [spp-transcript] Connect with Henry EisensteinLinkedInYouTubePodcastAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Dr. Siravich Wongpanich is a founder of the Money Clinic, a Thai Facebook page about trend-following trading. He is a doctor and a trader in the stock market, cryptocurrencies, and futures.STORY: Siravich invested in cryptocurrencies without research or a risk management plan. He lost 1/5th of his investment.LEARNING: Be careful dealing with futures. Find your sweet spot and try to operate within that sweet spot. “Have an investment plan and follow it.”Siravich Wongpanich Guest profileDr. Siravich Wongpanich is a founder of the Money Clinic, a Thai Facebook page about trend-following trading. He is a doctor and a trader in the stock market, cryptocurrencies, and futures.Siravich has an ongoing online course, Tools to Trend Trader Online Course and has extended a 15% discount to all My Worst Investment Ever Podcast listeners. Message him on Facebook to get your discount.Worst investment everWhen Siravich started investing in cryptocurrencies through futures contracts, he was super excited about the booming market. He jumped right into it without any research or a risk management plan. The cryptocurrency market was quite volatile, going up and down pretty fast. Siravich got 10x profit at one time but also lost around 1/5 of his capital in the end.Lessons learnedBe careful dealing with futures.Avoid revenge trading.Long-term investing is better than short-term investing.Andrew’s takeawaysWe need to compound our savings and investments over time to have enough money to do the things we want, such as retire.If you invest with overconfidence, the market will take your confidence away.Find your sweet spot and try to operate within that sweet spot.Actionable adviceHave an investment plan and follow it because if you fail to plan, you are planning to fail.No. 1 goal for the next 12 monthsSiravich’s goal for the next 12 months is to build a community on Facebook. He’s also working on building a trading strategy that suits him.Parting words “Develop and improve yourselves by learning from your previous experience and mistakes.”Siravich Wongpanich [spp-transcript] Connect with Siravich WongpanichLinkedInTwitterFacebookWebsiteAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Golf Sarun is the founder of a Thai Investment channel, Longlongthun (ลองลงทุน), which aims to educate his fellows about how to invest in crypto efficiently, stocks, and many other things.STORY: When Golf was 18 years old, one of his friends told him of his father’s company listed in the stock market. The stock was doing well and would to do even better due to a project coming up. Golf told his mom about the stock, and she invested. A few months later, the stock price plummeted and never recovered. Golf’s mom lost 60% of her investment.LEARNING: Don’t trust people with your investment. You have to invest on your own and for your own reasons. “Don’t trust people with your investment.”Golf Sarun Guest profileGolf Sarun is the founder of a Thai Investment channel, Longlongthun (ลองลงทุน), which aims to educate his fellows about how to invest in crypto efficiently, stocks, and many other things.Worst investment everWhen Golf was 18 years old, he had friends with whom he hung out. The father to one of the friends in the group owned a company listed in the Thai stock market. At the time, the stock’s price was going up quickly. The friend told them that the price would continue to go up because of a new project coming up.Golf saw this as an opportunity to make money quickly. He went home and told his mom about it. His mom sold her gold to buy the stock. After purchasing the stock, the project’s news came out, and the price went up. But after a few months, the price started going down so fast, and Golf’s mom lost 60% of her investment.Lessons learnedDo your research before investing in anything.Set clear boundaries of buying and selling conditions.Learn to read financial statements.Don’t trust people with your investment.Andrew’s takeawaysJust because you have information or some news, you don’t know how the markets will perceive that news.You have to invest on your own and for your own reasons.Have predetermined future actions for when the market crashes or goes up.Actionable adviceStudy technical graphs and apply them in investing.No. 1 goal for the next 12 monthsGolf’s goal for the next 12 months is to grow his portfolio by at least 20%.Parting words “Keep increasing your knowledge, and your money will continue to increase.”Golf Sarun [spp-transcript] Connect with Golf SarunTwitterFacebookYouTubeWebsiteAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever PodcastFurther reading mentionedHarry Markowitz (January 1952), Portfolio Selection

BIO: Kamal Karanth is the co-founder of Xpheno, a specialist staffing company he has been building since 2017. He also co-founded the Indian Staffing Federation, a prominent voice for labor reforms in India.STORY: Kamal was thriving as a sales rep, but he wanted more, so he put himself up for promotion. He got promoted to area manager. All he did was work, but his performance didn’t match up. Eventually, everyone noticed, including Kamal’s boss. After a year and a half, he had to quit.LEARNING: Nurture your relationships. Always anticipate the risks of a new venture. “Pay attention to your relationships, not materialistic gains. In the end, when we die, what we’ll leave are our relationships.”Kamal Karanth Guest profileKamal Karanth is the co-founder of Xpheno, a specialist staffing company he has been building since 2017. He also co-founded the Indian Staffing Federation, a prominent voice for labor reforms in India. Kamal has been named as one of LinkedIn’s Top Voices in 2020. He is a columnist, a blogger, a vlogger and hosts weekly live sessions on workplace dynamics. A fitness enthusiast and movie buff, Kamal claims relationships define careers and believes all of us can do much better on the relationship front at work.Worst investment everKamal was working as a sales rep, and about 18 months into his job, he showed interest in being a manager. He attended managerial interviews and went on to become a manager. Kamal was doing great in his position, and the company invested heavily in him.After a while, Kamal asked to be promoted to area manager. Again, he did interviews, got promoted, and went to a new territory. Moving to a new city was also not so easy for Kamal. He had a hard time adapting to a new language, new food, new culture, and constant travel. Suddenly, he realized that he had to work even harder now that he had a bigger team to manage. Kamal’s leadership style was lead by example; people will follow you. So he worked hard doing almost 15 hours a day, no weekends, no movies, no cricket, only work. Kamal was burned out at the end of one year, yet his results were minimal. His boss was unhappy with him. His team members kept moving to other teams because they were not happy with him. In about a year and a half as the area manager, Kamal quit because he could no longer handle it.Lessons learnedNurture your relationships.Pay attention to those subtle external changes that are not in your control.Nurture your relationships.Andrew’s takeawaysNever underestimate changes that happen in your life. They can have a significant impact.When considering an opportunity, keep in mind that there are risks involved. Some things could go wrong.Actionable adviceWhen getting into a new venture, keep reminding yourself it will be challenging, have an exit plan for when it becomes more challenging than you think you can handle.No. 1 goal for the next 12 monthsKamal’s goal for the next 12 months is to bring back his fitness levels. He also wants to reconnect with all his contacts and nurture those relationships.Parting words “Relationships matter. Stay on.”Kamal Karanth [spp-transcript] Connect with Kamal KaranthLinkedInTwitterBlogWebsiteAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever PodcastFurther reading mentionedJohn Miller (October 2016), Outstanding!: 47 Ways to Make Your Organization Exceptional.Henry (Cloud January 2011), Necessary Endings: The Employees, Businesses, and Relationships That All of Us Have to Give Up in Order to Move Forward.

BIO: Nesli Girgin is a content creator and expert in marketing campaigns, product introduction, and visibility.STORY: Nesli got an offer to move from Istanbul to New York to work for a multinational company. The United States immigration office needed one year of residence payments for her to move. The company only paid three months of residence and disappeared on her. Nesli had made some payments in anticipation of the move. She lost this money.LEARNING: Be patient and kind to yourself even when things don’t turn out as you hoped they would. Bad things happen for a reason, and they may change the direction of your life. “Let’s take care of our health and happiness. This is the best thing we have.”Nesli Girgin Guest profileNesli Girgin is a content creator and expert in marketing campaigns, product introduction, and visibility. With 20 years of banking, textiles, design, logistics, and business association experience, she has vast knowledge in general management. She is an expert in various industries, including foreign trade, payment solutions, business planning, and project management.Worst investment everNesli had to quit her job to take care of her sick mom. She started some work-from-home business projects. She would receive job offers from recruiters, and one offered her a job at a multinational company in New York. The company invited Nesli to live in New York. She was excited about this opportunity because she’d always dreamed of living in New York. They discussed everything, and Nesli signed agreements.Nesli started the immigration procedures, and the United States immigration office requested her for one year of residence payments. The company only paid three months of residence. Nesli tried her best to reach the HR teams, she wrote many letters to them, but unfortunately, they didn’t complete the rest of the payments. Eventually, she decided to stop trying to go to New York. Nesli had already made some payments in anticipation of her move. She ended up losing this money.Lessons learnedDon’t lose hope if something doesn’t happen as you dreamed it would. It will happen when it’s meant to happen.Andrew’s takeawaysEverything happens for a reason. Just let things happen.Bad things happen for a reason, and they may change the direction of your life.Actionable adviceBe patient and kind to yourself even when things don’t turn out as you hoped they would.No. 1 goal for the next 12 monthsNesli’s goal for the next 12 months is to complete some projects she’s working on with her wonderful team in Turkey. [spp-transcript] Connect with Nesli GirginLinkedInAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Pankaj Jathar is the CEO of Prione, a company established in 2014 which enables small and medium businesses to grow in e-commerce.STORY: About 12 years ago, Pankaj invested in a company he saw journalists recommending on TV. He didn’t do any research and believed the reporters 100%. The stock price tanked a month later. Pankaj sold his stock a year later after taking a 75% capital loss.LEARNING: Be skeptical about the advice you receive, especially from the media. Learn and understand some of the basics of personal finance and investing. Be your own financial adviser. “Educate yourself and be skeptical about what you read or see. Do your research, which will come once you learn.”Pankaj Jathar Guest profilePankaj Jathar is the CEO of Prione, a company established in 2014 which enables small and medium businesses to grow in e-commerce. He has 10+ years of e-commerce experience, starting with Amazon in 2011. Being part of the India launch team and working in multiple roles, he has a deep understanding of the e-commerce value chain. He might be a white-collar worker on weekdays, but he enjoys writing his blogs on weekends, and that blog is Stacking Beans which he has been writing for more than a year.Worst investment everAbout 12 years ago, Pankaj would watch CNBC for the stock tickers and conversations, which got him a little interested. But he had not yet started learning about either personal finance or investing. So Pankaj kind of believed the experts and the pundits on TV, thinking they knew what they were talking about, and their advice was to be taken 100%.They did a company profile they recommended as an investment option for the short to medium-term. As the naive newbie that Pankaj was, he put a fair amount of money into that stock. A month later, it tanked and stayed there for a long time. He sold the stock at nearly a 75% capital loss.Lessons learnedBe skeptical about the advice you receive, especially from the media. Don’t listen to experts on TV. They are probably experts in their field but necessarily financial experts.Not all journalists do their homework or do the deep dive level you would expect. Journalists are paid to generate interest, talking points, news, etc.Listen to everyone, but do your research before you put your hard-earned money on the line.Understand what equity investing is about before you start. If you don’t have either the skill or the time to do an in-depth analysis on a particular company or stock to understand the nuances, then just don’t invest in it.Question all advisors. Try to understand their motives. Is that person on your side, or is it just about their benefit?Don’t confuse your circles of influence. For example, don’t ask your mom for stock-picking advice. Don’t ask your financial advisor for cooking tips. Those two circles are different.Andrew’s takeawaysThe media is not on your side; they are trying to generate income from you.You have to be your own financial adviser.You have a right and an obligation to investigate and ask questions. If you’re not satisfied with the answer you get, you have a right to ask again and again until you’re happy.If you’re going to own individual stocks, start with about 10. Holding less than 10 stocks exposes you to individual stock risks. More than 10 will just be similar to owning an ETF.Unrealized losses are real.If you’re in a position that you don’t think you should be in for the next year or so, then there’s nothing wrong with selling it and moving that money into something better.Actionable adviceEducate yourself. There are just no two ways about it. You have to educate yourself. Even if you’re going to pay someone else to manage your money, you still need to learn and understand some basics around personal finance, investing, and equity investments. Just know enough to ask the right questions and understand the answers you get. Don’t take any advice and explanations at face value.No. 1 goal for the next 12 monthsPankaj’s goal for the next 12 months is to get to his Financial Independence Retire Early (FIRE) equity number which basically puts his portfolio and finance on autopilot.Parting words “Learn and be skeptical.”Pankaj Jathar [spp-transcript] Connect with Pankaj JatharLinkedInTwitterFacebookInstagramBlogWebsiteAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever PodcastFurther reading mentionedMorgan Housel (September 2020), The Psychology of Money: Timeless lessons on wealth, greed, and happiness.J L Collins (June 2016), The Simple Path to Wealth: Your road map to financial independence and a rich, free life.James Montier (January 2010), The Little Book of Behavioral Investing: How not to be your own worst enemy.George S. Clason (2019), The Richest Man in Babylon.Nassim Nicholas Taleb (August 2005), Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets.Nassim Nicholas Taleb (May 2010), The Black Swan: The Impact of the Highly Improbable.