My Worst Investment Ever Podcast

Michael Batnick is the Director of Research at Ritholtz Wealth Management where he reads research publications and stays on top the latest trends in the industry. He is a member of the investment committee and heads up the company’s internal research efforts. He spends most of his time developing and implementing risk management and portfolio strategies for the firm’s clients. His career began with a sales position at a life insurance company. In May 2018, he published his book, Big Mistakes: The Best Investors and Their Worst Investments. Michael holds a bachelor degree in Economics from the Queens College. He enjoys reading books and spending time with his family in his spare time. In this episode, Michael shares his golden nuggets of wisdom in investing.  Listen as he reveals why keeping a journal and writing down notes helped him change the way he thinks and apply them in his investments. For our new and inexperienced listeners in the stock market, take away those note-worthy tips as well.  Get educated and be inspired by his story.   “If you write a journal and you're writing your logic down, you'll find very quickly that the biases (you have) are just as susceptible as anybody else's.” - Michael Batnick What do you want to hear from the My Worst Investment Ever Podcast? Tell us here! Resources:  My Worst Investment Ever Book myworstinvestmentever.com Resources from Michael Batnick: Big Mistakes: The Best Investors and Their Worst Investments Listen to his Podcast: Animal Spirits Topics Covered: 01:08 – Brief background of our featured guest 03:08 – Michael recounted when he bought Apple stocks in 2013 and why he considers this as his biggest loss 05:36 – Why keeping a diary and writing down notes (journaling) helped him managed his risks 09:34 – Summary of the learnings from his book 12:26 – Sharing what he learned about clients and having financial plans 17:20 – Andrew stresses the value of pre-planning for the worst case 17:49 – Great advice to listeners who are new to the stock market 21:23 – Invitation to read Michael’s book Main Takeaways: Lesson 1: “I think one of the reasons that, I smelled the roses fairly early on, was because I was keeping a diary and I think a lot of people don't even have a sense of what their performance is.”– Michael Batnick Lesson 2: “I think that the difference between successful investors, like super successful investors, done the rest of us is that they can move past it.”– Michael Batnick Lesson 3: “I'm a big believer in having rules when you're investing, whether that is just a simple checklist of the type of stocks you buy or some risk management system.”– Michael Batnick Lesson 4: “Just get started, but be careful. Don't risk too much money, lose money because that's the only way that you're going to learn them. And believe me, you will lose money, but keep it reasonable. Keep it small. Don't put yourself in a position where you're overextending yourself, but I don't think that anybody could tell you how to invest. Nobody could say, don't buy active mutual funds. Don't buy index funds. They're boring. Don't do this. Don't do that. You have to figure it out on your own. And some people never get there.”– Michael Batnick Lesson 5: “The only way to learn what style of investing matches your personality is to invest. And nobody could tell you what it feels like to lose money. So, you have to experience that on your own.”– Michael Batnick You can also check out Andrew’s books How to Start Building Your Wealth Investing in the Stock Market My Worst Investment Ever 9 Valuation Mistakes and How to Avoid Them Transform Your Business with Dr.Deming’s 14 Points Connect with Michael Batnick: theirrelevantinvestor.com LinkedIn Twitter Connect with Andrew Stotz: astotz.com Linkedin Facebook Instagram Twitter Youtube My Worst Investment Ever Podcast

Olan Suthivej is currently the VP of Thailand Investment Banking & Capital Market (IBCM) at Credit Suisse based in Bangkok. He joined Credit Suisse in 2014 and has over 12 years of extensive investment banking experience in equity, equity-linked, debt financing, and M&A advisory transactions. Before joining Credit Suisse, Olan was an Associate Director in the Investment Banking department at UBS Securities Thailand and was responsible for client coverage and origination. Before relocating back to Bangkok, he worked in the Fixed Income Currencies & Commodities (FICC) at UBS Hong Kong and was responsible for sales and distributions of financial products (e.g., bonds, derivatives, commodities) to Thai clients. He started his career in investment banking as an Analyst at Phatra Securities based in Bangkok. He graduated from the University of California, Santa Barbara with Bachelor of Arts degree in Business Economics with an emphasis in Accounting and holds an MBA from Sasin Graduate Institute of Business Administration.  He is very happily married with two wonderful children. Get to know Olan as he unveils his worst investment ever story. Discover how he lost 20% of his portfolio by listening to stock tips. Learn why it is crucial for an investor to set a stop loss and to follow discipline in trading.   “It takes discipline to master your emotion.” – Olan Suthivej What do you want to hear from the My Worst Investment Ever Podcast? Tell us here! Resources:  My Worst Investment Ever Book myworstinvestmentever.com Topics Covered: 01:26 – Andrew tells about Olan’s background in career and education   02:52 – Olan recalls how his stocks investments during his MBA days were initially doing well but eventually turned out loosing 20% 05:28 – Lessons learned by our guest 06:22 – Andrew summarizes his takeaways 12:08 – Olan gives an option on how and what to invest if you don’t actively trade in stocks 13:29 – Ending the show with this simple but powerful advice: “Stay focused and be disciplined.” Main Takeaways: Lesson 1: “You should follow your initial target. It takes discipline to master your emotion. It's like gambling as always. If you win more, you always want to win a bit more. But again, I think the great trader always follow their disciplines and make a decision because he's always in the news. You win some, (you) lose some.”– Olan Suthivej Lesson 2: “The first one (mistake people did) is it failed to do their research.  The second major area that people make is failing to properly assess risk. The other thing is the concept of a tip.”– Andrew Stotz Lesson 3: “If you make a profit, you will never make a loss, no matter how big or small it was. It's still a profit. At least you know, you're not losing any money.” – Olan Suthivej You can also check out Andrew’s books How to Start Building Your Wealth Investing in the Stock Market My Worst Investment Ever 9 Valuation Mistakes and How to Avoid Them Transform Your Business with Dr.Deming’s 14 Points Connect with Olan Suthivej: LinkedIn Connect with Andrew Stotz: astotz.com Linkedin Facebook Instagram Twitter Youtube My Worst Investment Ever Podcast

Tony Watson is an investment professional with more than 20 years of experience in Asia (ex-Japan) credit markets.  He joined Far East Investment Limited in 2016 where he is currently a Portfolio Manager and Responsible Officer.  He was regularly ranked by Asiamoney, FinanceAsia and The Asset as one of Asia (ex-Japan)’s top 10 publishing credit analysts between 2001 and 2007.  Tony joined the Hong Kong Society of Financial Analysts in 1996 and became Vice President in 2017 and President in 2018. He was HKSFA’s Acting Managing Director from March to September 2015.  He was named CFA Institute’s 2015 Volunteer of the Year and awarded its 25-year Continuing Education Milestone in 2017. He became a CFA charter holder in 2000. He graduated with an MBA degree from Western Business School at the University of Western Ontario with an MBA in 1995 and BBA from St. Francis Xavier University in 1988. In this episode, Tony shared his story investing in a medium sized trust company that was priced at $10 per share and how it devastatingly dropped down to zero. Learn why it is important to know the risk involved in trust investments, why it is important to understand what happens to trust companies in times of credit stress.   “If the markets are telling you something, listen, don't find good reasons to continue in your path.” – Tony Watson What do you want to hear from the My Worst Investment Ever Podcast? Tell us here! Resources:  My Worst Investment Ever Book myworstinvestmentever.com Topics Covered: 01:39 – Andrew gives a summary of Tony’s educational and professional experience 03:24 – Tony narrates how his investment in a trust company ended up as a big loss 06:58 – Sharing how this experience essentially helped him in his career as a credit analyst 09:14 – Andrew tells what he learned with banks and financing specifically in Asia 13:00 – Tony gives one actionable advice to avoid the same situation he did 13:26 – Andrew summarizes the six important and common mistakes in his podcasts 14:23 – Parting words from Tony: “Listen to what the market's telling you.” Main Takeaways: Lesson 1: “A trust company is not a bank. A small trust company is not too big to fail.”– Tony Watson Lesson 2: “My big takeaway there is only the biggest banks are too big to fail, and only banks get bailed out.”– Tony Watson Lesson 3: “(The mistakes I did) Number one, do your research. Number two, things go the wrong way and continue to go the wrong way. Don't look for reasons why they can turn around and realize that you own all the loss on this and you've got to decide to stop loss and get out at some point. Other than that, ask questions from people who know.  I relied on folksy mom and pop research just asking friends and family. I should have sat down with a bank analyst or done a little reading and just better understood what happened to trust companies in times of credit stress.” – Tony Watson Lesson 4: “Thousand credit officers in the bank are likely to do a better job at allocating that capital towards the most attractive opportunities than maybe an equity investor that's trying to find a thousand different companies to invest in.”– Andrew Stotz Lesson 5: “Six common mistakes that are made: First is a failure to do research. Second is a failure to properly assess the risk. The third is to be driven by emotion or flawed thinking a little bit about that cognitive bias. Fourth is misplaced trust. I note down that this company had two interesting words in its name, guarantee, and trust.  And number five is failed to monitor their investment. Number six in a category, all by itself, is invested in a startup company, which this was not that case.”– Andrew Stotz You can also check out Andrew’s books How to Start Building Your Wealth Investing in the Stock Market My Worst Investment Ever 9 Valuation Mistakes and How to Avoid Them Transform Your Business with Dr.Deming’s 14 Points Connect with Tony Watson: LinkedIn Connect with Andrew Stotz: astotz.com Linkedin Facebook Instagram Twitter Youtube My Worst Investment Ever Podcast

Paul Sheehan has more than 25 years of experience in financial institutions, starting as a central banker at the Federal Reserve Bank of New York.  Subsequently, he was a Managing Director and Head of Financial Institutions for Lehman Brothers, Bear Stearns, and ING Barings, and founder and CEO of Thaddeus Capital, an institutional fund manager.  He continues to advise governments, sovereign wealth funds, and multilateral institutions. Paul is a US citizen and was educated at the State University of New York, Yale and Harvard. He is currently the CEO of Melmotte Brothers, which is based in Hong Kong and covering emerging markets in Asia, Europe, and Africa. In this episode, Paul shares his worst investment ever story that was related to the sell-off of Bank Internasional Indonesia (BII) in 2008, a transaction that almost caused him to lose his firm plus $37 million worth of shares in 15 minutes.  Learn why it is essential always to watch the market and to remember that a deal is never done until it is done.   “That concept of certainty is what leads you into trouble.” – Paul Sheehan What do you want to hear from the My Worst Investment Ever Podcast? Tell us here! Resources:  My Worst Investment Ever Book myworstinvestmentever.com Topics Covered: 01:15 – Paul's professional background  03:03 – Paul narrates the series of events behind investing in an Indonesian bank 17:27 – He recounted why things didn’t go as planned and how it almost caused a massive amount of loss and considered his worst investment experience 25:21 – Sharing the valuable lessons he learned and the advice to avoid falling into the same situation 27:37 – Andrew shares a brief story when he sold his motorcycle and got the payment check only to bring it back to the bank because the payment was stopped 29:30 – Paul ends the episode with this advice: “Always talk about your losers because you don't learn anything from winning.” Main Takeaways: Lesson 1: “Do not get complacent. Nothing is ever done until it's done.”– Paul Sheehan Lesson 2: “To say markets are discontinuous and the idea that if something goes wrong, you can get out, does not always apply even if I paid attention.”– Paul Sheehan Lesson 3: “Always watch the market.  If the market sells off 25% in 20 minutes, someone knows something more than you do, you should consider getting out no matter what.”– Paul Sheehan Lesson 4: “Never bet the firm.”– Paul Sheehan Lesson 5: “Always talk about your losers because you don't learn anything from winning.”– Paul Sheehan You can also check out Andrew’s books How to Start Building Your Wealth Investing in the Stock Market My Worst Investment Ever 9 Valuation Mistakes and How to Avoid Them Transform Your Business with Dr.Deming’s 14 Points Connect with Paul Sheehan: LinkedIn Connect with Andrew Stotz: astotz.com Linkedin Facebook Instagram Twitter Youtube My Worst Investment Ever Podcast

Franki Chung is a CFA charter holder and has a massive 24 years of experience in equity/fixed income analysis and portfolio management in Asia Pacific ex-Japan.  He was the Chief Investment Officer of MEAG HK, the asset management arm of Munich Reinsurance. Based in Hong Kong, he and his team cover Asian equities and fixed income portfolios for Munich Reinsurance. Before joining MEAG in 2010, he was the deputy head of Asia Equities in Baring Asset Management and responsible for country allocation, stock selection and managing equity portfolios in the Asia Pacific.  He currently heads Prosper Global Asset Management, an investment company, as its Chief Investment Officer. Get to know Franki as he shares his worst investment story as a fund manager studying a recycling company portfolio. Learn the operational frauds that he discovered as he was studying this company. Know why it is important for a traditional active management manager to visit the company, know the stakeholder's values and build trust around the business model before considering adding the business to the portfolio.    “At the end of the day, the complete avoidance is almost impossible. If they want to hide from you, they can always hide.” – Franki Chung   What do you want to hear from the My Worst Investment Ever Podcast? Tell us here! Resources:  My Worst Investment Ever Book myworstinvestmentever.com Topics Covered: 01:09 – A brief introduction of the guest and how they crossed paths with Andrew years ago 03:05 – Franki narrates on how he, as a Fund Manager in CIBC (Canadian Imperial Bank of Commerce) studied a recycling company and the unusual and odd operational transactions he discovered in it 09:03 – Unveiling the lessons he learned from this experience 10:10 – Andrew sums up his takeaways 15:17 – Franki's advise as a passive investor   Main Takeaways: Lesson 1: “At the end of the day, the complete avoidance is almost impossible that if they want to hide from you, they can always hide. So, the only thing is that through diversification to put all the extras. Understand the management, but you can do as much as you can.”– Franki Chung Lesson 2: “(As passive investors), we just actively studied the company, but in the end, we do not have the operational control or did intervene. We have to be active to some part, but like any one of us, we have to know our limit, how active we can.”– Franki Chung Lesson 3: “Fraud does come as a surprise at times.  And so, there's nothing you can do sometimes if someone's a very good, sneaky, tricky person.”– Andrew Stotz You can also check out Andrew’s books How to Start Building Your Wealth Investing in the Stock Market My Worst Investment Ever 9 Valuation Mistakes and How to Avoid Them Transform Your Business with Dr.Deming’s 14 Points Connect with Franki Chung: LinkedIn Connect with Andrew Stotz: astotz.com Linkedin Facebook Instagram Twitter Youtube My Worst Investment Ever Podcast

Awais Abdul Sattar is an Investment Professional with 5+ years of experience in the field of Investment Analysis and Portfolio Management. He started his career as a buy-side research analyst.  He is currently Head of Research at MCB Arif Habib Investments, one of the top-rated asset management companies in Pakistan which are managing $700 million assets.  He favors a bottom-up approach in the analysis of stocks while factoring it overall asset allocation via a top-down approach. Awais believes abnormal returns can be generated by looking for stocks which are off the radar or not under active coverage. In this episode, Awais shares his story of loss when he ventured in the commodity sector specifically the textile industry. Listen to his story as he shared his rollercoaster experience of the commodity cycle, its peaks, and its trusts. Learn why it is important to find out at which part of the cycle you are in. And why you should be very cautious about the future outlook of the investment.   “Do take the risk, but do your complete due diligence and try to have a complete understanding of the business and sector you're investing in.” – Awais Abdul Sattar   What do you want to hear from the My Worst Investment Ever Podcast? Tell us here! Resources:  My Worst Investment Ever Book myworstinvestmentever.com Topics Covered: 01:56 – Awais tells about investing 15% of his portfolio in a textile company and the exceptional gains he received from it initially 06:00 – He shares the shocking and unexpected results of his investment after 3 months 07:15 – His realizations on this investment loss 09:41 – Narrating the three important lessons he learned from his experience 12:43 – Andrew provides a brief background of the guest 14:16 – Andrew sums up his takeaways and relating those in his books and research 17:12 – A very notable advice from Awais – “Do take the risk, but do your complete due diligence and try to have a complete understanding of the business and sector you're investing in”.   Main Takeaways: Lesson 1: “Commodities have their cycles. They have peaks, they have trusts and they are very easy to replicate. Anyone can imitate them. And investors should first try to find out at which part of the cycle the commodity is. If you are at the peak of the cycle, then perhaps you should be very much cautious about the future outlook.”– Awais Abdul Sattar Lesson 2: “If the margins are far higher than the historical level, generally it implies that it's a peak because margins have a tendency to revert back to the main level.”– Awais Abdul Sattar Lesson 3: “Never ever invest at the peak of a commodity business. And if you ever invested, do find it out. Do know about the emerging trends that are going in the industry. Don't ignore the developing trends in the industry in which you're investing in.”– Awais Abdul Sattar Lesson 4: “When I was analyzing the company, I ignored the degree of operating and fixed leverage. Companies with high degree of operating and fixed leverage tend to have very high sensitivity to earnings because they’ve got higher fixed cost per unit of production. That's why in no time the company I was investing in turn to loss”– Awais Abdul Sattar Lesson 6: “Sometimes you can get the company right but get the overall macro story wrong.  And in this case, it was a commodity.  But remember, it’s more than just looking at that company.”– Andrew Stotz Lesson 8: “Beware when margins are high and they are very high in the US and they are high around the world.”– Andrew Stotz Lesson 9: “I always say it's a little bit like jumping in a car, pushing the gas, driving as fast as possible and not knowing what a seatbelt is. You're exposing yourself to risk and risks that you don't even know, but unfortunately, you don't get rewarded in this world by taking on risks that you could have avoided.”– Andrew Stotz You can also check out Andrew’s books How to Start Building Your Wealth Investing in the Stock Market My Worst Investment Ever 9 Valuation Mistakes and How to Avoid Them Transform Your Business with Dr.Deming’s 14 Points Connect with Awais Abdul Sattar: LinkedIn Twitter Connect with Andrew Stotz: astotz.com Linkedin Facebook Instagram Twitter Youtube My Worst Investment Ever Podcast

Mr. M. Zia Islam is the Coordinator, External Relations, School of Management, Asian Institute of Technology Thailand. AIT School of Management is ranked among top 250 B-Schools in the World under QS World Rankings by Subjects 2018 under "Business & Management." He holds a Bachelor of Science in Computing & Information Systems from London Metropolitan University. In his free time, he enjoys reading books with a cup of hot latte.  He lives with his wife in Bangkok for eight years now. In today’s episode, Zia shares his social trading story, his loss and the lessons he learned from the experience. Know why it is important not to let emotions cloud your investment decision to avoid making irrational investment choices.   “The lessons I got are - you cannot be an emotional eater and go to the masters.  Learn something from the technical expert, then make decisions more logical and most practical.” – M. Zia Islam     What do you want to hear from the My Worst Investment Ever Podcast? Tell us here! Resources:  My Worst Investment Ever Book myworstinvestmentever.com Topics Covered: 02:25 – Zia narrates how he was introduced to social trading and how it ended as his worst investment story 07:01 – The two things he learned from his social trading experience  08:05 – Andrew shares his golden nuggets of wisdom in investing 11:07 – Zia’s final advice: “Go and find the masters.  Start to find a technical expert who can teach you first. Learn first before you go for action. That's why people lose money. But when you learn things, and then you lose, it makes sense.  Just don't go for any emotional investment and follow others without going the things what you're doing.”   Main Takeaways: Lesson 1: “The investors worst enemy is not the stock market but the emotions.”– M. Zia Islam Lesson 2: “It's the human nature to be emotional. You said human nature to be, but if it's an investment return, it cannot be an emotional investment.”– M. Zia Islam Lesson 3: “The first thing I always tell people is don't invest with people who call you.”– Andrew Stotz Lesson 4: “Every single trading strategy you ever do in your whole life is yours. You may be following somebody, but ultimately, it’s yours and your responsibility to put in the risk management systems and all of those things. You can't just follow because the problem about following is everybody will invite you in, very rarely will they tell you when to exit.”– Andrew Stotz Lesson 5: “There are many people who are the beginner outside, their tracking biased and they think maybe it will bring huge income.  But you have to be more practical. Do your homework before you fell for it.”– M. Zia Islam Lesson 6: “I would generally tell people to stay away from online trading platforms, particularly related to commodities and currencies.  One of the reasons is because in currencies, first of all, it's the most massive liquid market in the world and that means that the players that are in it are the biggest in the world and that's who you're trading against.”– Andrew Stotz Lesson 7: “You're trading against central banks that are really run by governments and politicians and you never really know what direction they're going to go. So, if you don't understand the risk management stuff, you could get wiped out very easily. I would say be very cautious about those. And then, of course, there's plenty of those that are just plain scam.”– Andrew Stotz You can also check out Andrew’s books How to Start Building Your Wealth Investing in the Stock Market My Worst Investment Ever 9 Valuation Mistakes and How to Avoid Them Transform Your Business with Dr.Deming’s 14 Points Connect with M. Zia Islam: LinkedIn Twitter Connect with Andrew Stotz: astotz.com Linkedin Facebook Instagram Twitter Youtube My Worst Investment Ever Podcast

Peter Emblin has diverse experience in global financial markets and corporate finance having worked in Australia, the United Kingdom, and various South East Asian countries.  His career experiences cover analysis, primary research, investment management, mergers and acquisitions from both the buy and sell sides.  He was a resident in Thailand since 1992 when he came there to help establish a newly authorized fund management company.  He is a Fellow of the Finance and Securities Institute of Australia, Chartered Director of the Thai Institute of Directors and a Director of the Australian-Thai Chamber of Commerce, Seamico Securities and Delight Plus. Listen to Peter as he tells us how his initial $2,000 investments made a $40,000 profit and later ended up an awful loss.  Learn all the lessons, follow his advice and prevent the same mistakes he did. Hear this story in another episode of painful loss and sweet success.   “Trade around if it's close stock and you believe in it, and your research told you nothing has fundamentally changed. Rely on it. Standby it.” – Peter Emblin   What do you want to hear from the My Worst Investment Ever Podcast? Tell us here! Resources:  My Worst Investment Ever Book myworstinvestmentever.com Topics Covered: 01:01 – A brief background of our guest and the reason why he stayed in Thailand for over 25 years already 02:18 – Peter recalls investing in a publicly listed telecom company in the Philippines and how it turned out to be his worst investment experience 04:56 – Sharing the lessons he learned 05:54 – Andrew summarizes his takeaways 08:11 – Peter adds a piece of brief but actionable advice: “Do your research.”   Main Takeaways: Lesson 1: “Market prices move differently to the fundamentals of companies. And if you'll look an investment for long term reason, check your research, check what's happening.”– Peter Emblin Lesson 2: “Don't let the market moves get caught up because markets move for other reasons, the liquidity of sellers, which has nothing to do with the underlying company. So, stick to your guns is what I learned. If you’re buying the hold, don't get scared or worried my short-term moves.”– Peter Emblin Lesson 3: “Asia tends to be a much more volatile part of the world for the markets.”– Andrew Stotz Lesson 4: “You got to have a good plan when you're going into it, like a solid, even a written plan so that you know what you're doing and you won't be lured away by a quick gain.”– Andrew Stotz Lesson 5: “Don't just put your money in and get it out and incompletely build your core positions. And then it's okay to trade around those positions with 10, 20, 30, 40, 50% of the core amount.”– Andrew Stotz Lesson 6: “Trading around, hopefully, it'll give you some gain.  But in many cases, it could give you loss. But the point is it may satisfy an emotional need.  And the satisfaction of that emotional need may help you to keep the long position in place”– Andrew Stotz You can also check out Andrew’s books How to Start Building Your Wealth Investing in the Stock Market My Worst Investment Ever 9 Valuation Mistakes and How to Avoid Them Transform Your Business with Dr.Deming’s 14 Points Connect with Peter Emblin: LinkedIn Connect with Andrew Stotz: astotz.com Linkedin Facebook Instagram Twitter Youtube My Worst Investment Ever Podcast

Mohd Sedek Jantan is an experienced and highly competent investment professional and financial planner.  He is currently connected with Standard Financial Adviser since June 2014 where he is the Head of Investment & Financial Planning.  He is primarily responsible for managing Corporate and high net worth investment portfolio, investment research and strategy. He is also involved with providing financial strategy and planning for government-linked companies and multinational companies. Mohd Sedek graduated with a Bachelor of Economics (with Honors) from National University Malaysia, and Master of Science in Business Strategy, Leadership, and Change from Heriot-Watt University in Edinburgh, Scotland. He also holds the Islamic Financial Planning Certificate from Islamic Banking & Finance Institute Malaysia (IBFIM).  He is also a Design Thinking Practitioner from Genovasi-Design Thinking School Malaysia.  Get to know Sedek as he narrates his own story in investing and how influence from other people caused him to lose his investments. Understand why it is essential to believe in your investments based on research and logic and get other helpful pieces of advice to reduce your risks. All this and more in this another remarkable story to keep you learning and yearning to win.   “Be firm on your decisions.” – Mohd Sedek Jantan   What do you want to hear from the My Worst Investment Ever Podcast? Tell us here! Resources:  My Worst Investment Ever Book myworstinvestmentever.com Topics Covered: 00:38 – Andrew gives a brief background of about Sedek 02:31 – Sedek recounts the reasons why he felt competent to invest in stocks of a family business with a strong financial profile and how it ended as his worst investment experience 11:57 – Sharing the lessons he learned 14:15 – Andrew summarizes his take-aways 19:53 – Sedek’s parting advice: “You make a decision to invest because you believe on the investment based on research and logic.”   Main Takeaways: Lesson 1: “If the company have a strong financial profile and you believe with the data, never allow other people to influence your decisions.”– Mohd Sedek Jantan Lesson 2: “People tend to panic when the price has dropped so much unexpected price. And they said, really? They said you make the wrong decision.  And the worst part is after a few months, after few weeks that you find out they said the part is going out.”– Mohd Sedek Jantan Lesson 3: “In America, one of the things that they warn against is investing in a family business. You should invest in a professionally run business, but my experience in Asia is that in the end, you're going to be investing with a family in almost every case. And if you're not, you should be careful because professionally run companies may not have anybody really looking after it. The challenge is you've got to invest with the right family.”– Andrew Stotz Lesson 4: “Cutting loss is another way that some people do it when they manage a portfolio. By saying that there's some optimal number or percent. Now I've done both of these ways, and I can tell you if you do a stop loss, particularly in Asia, you'll probably be talking about 20%.”– Andrew Stotz Lesson 5: “When you hear other people talking about it, either positive or negative, it's so hard to go against what is saying.  Yet we know that to be a successful investor over a long period of time, you've got to build your own story. You've got to do your own research and you've got to monitor your own stocks.”– Andrew Stotz Lesson 6: “When the stock price falls or rises, whatever happens, you should go back to your reason and logic about the company. Don’t get caught up in your emotions.”– Andrew Stotz   You can also check out Andrew’s books How to Start Building Your Wealth Investing in the Stock Market My Worst Investment Ever 9 Valuation Mistakes and How to Avoid Them Transform Your Business with Dr.Deming’s 14 Points Connect with Mohd Sedek Jantan: LinkedIn Connect with Andrew Stotz: astotz.com Linkedin Facebook Instagram Twitter Youtube My Worst Investment Ever Podcast

Dan Gramza is President of Gramza Capital Management, Inc.  He is a trader, consultant to domestic and international clients, an advisor to hedge funds, a developer of ETF / ETC securities and co-inventor of two issued security patents. He has published works and has appeared on numerous media outlets around the world.  He set up and ran stock and futures proprietary trading operations, given expert witness testimony in US Federal court, has presented courses to traders from over 36 exchanges, 450 institutions, four regulators in 35 countries and provides free daily commentary on 21 markets at dangramza.com which is viewed in over 150 countries.    Listen from Dan as he unveils his journey in trading, how his past experiences made him develop his strategies and how it made him a success in his fields.  Learn from him in this another episode of losing and winning it all. “I find looking at my losses refreshing, and the reason I do is my loss has had taught me trades as well.” – Dan Gramza   What do you want to hear from the My Worst Investment Ever Podcast? Tell us here! Resources:  My Worst Investment Ever Book myworstinvestmentever.com Topics Covered: 01:49 – Dan narrates his academic background and how he ended up successfully teaching from stock options to the Board of Trade 04:45 – His realizations when compared from his first year of teaching up to the present and the remarkable changes it made him 06:06 – Andrew shares his journey in teaching and a finance person and how experience and to focus tremendously helped him through 09:38 – How one good day turned the opposite and became his worst investment experience 17:00 – What he learned from this loss and other self-realization 19:59 – Telling about his investigation process and the three strategic questions he asked himself 22:27 – Andrew summarizes his takeaways 28:50 – Advice from Dan to avoid the same fate he did 32:03 – Parting words from Dan: “I find looking at my losses refreshing, and the reason I do is my loss has had taught me trades as well. My losses tell me, am I following my strategy? Am I not? My strategy has something changed. So, the losses are a significant parameter that I don't think, no matter how successful we are, we don't want to forget about.”   Main Takeaways: Lesson 1: “Risk is a beautiful thing. It's just a matter of how you and I manage it.”– Dan Gramza Lesson 2: “Whatever your strategy is, find the one that's right for you. Find the books that are right for you. Find the teachers that are right for you and start to implement your strategy. There's nothing wrong with that.”– Andrew Stotz Lesson 3: “Understanding your modeling, questioning your model is critical.”– Andrew Stotz Lesson 4: “It's important that we understand the strength and weaknesses of anything that we use to expose capital to the market to risk by that, when does it work, when does it not work?”– Andrew Stotz Lesson 5: “Make sure you've got your system. Don't let your thinking in your emotion in the middle of it, shut it down. Follow your system.”– Andrew Stotz Lesson 6: “We should always have our risk management plan before we ever exposed capital because we don't know when it's not going to work, and every trade is not going to work.”– Dan Gramza Lesson 7: “One of the biggest challenges for traders or investors is being patient enough to wait until we have the answers to those questions. Being patient enough to wait until the market gives us that opportunity. Being patient enough, once we get into a trade, to let the trade do its job and all those things I violated in some ways.”– Dan Gramza Lesson 8: “Plan your work, work your plan.  Plan your trade, trade your plan.”– Andrew Stotz You can also check out Andrew’s books How to Start Building Your Wealth Investing in the Stock Market My Worst Investment Ever 9 Valuation Mistakes and How to Avoid Them Transform Your Business with Dr.Deming’s 14 Points Connect with Dan Gramza: www.dangramza.com LinkedIn YouTube Connect with Andrew Stotz: astotz.com Linkedin Facebook Instagram Twitter Youtube My Worst Investment Ever Podcast