Confronting Jeremy Financial Education | Exposing His $1,000,000 Portfolio

well holy smoke is this ain't no jokers welcome into the iced coffee hour i believe this is episode 21 and you gentlemen have made 6 200 so far we have an epic episode for you guys okay we're gonna talk about stocks we're gonna talk about investing we're gonna talk about stocks i like right now i'm gonna break some news in this video that is earth shattering okay it's actually not news about me it's news about this guy right here okay this is massive news and when i say massive i'm talking about gargantuan i'm talking about as big as a massive state okay think about a massive state like california that's what we're going to get into this is going to be a big podcast we are going to beat kevin's view count in this video we're taking them down kevin your dust let's get into this wow watch till the end and enjoy oh also you're our first ever recurring guest congratulations thanks congratulations welcome so with that said enjoy the episode enjoy thank you for coming on jeremy absolutely thanks for having me again guys the last episode was amazing man so well yeah until kevin came on your episode was the number one most viewed episode ever wow on the podcast because i think we were talking about investing how beginners could invest our best investment strategies how to make a lot of money and your business and people don't realize just how successful everything you're doing is and just the possibilities out there are insane like i'm learning a lot from just these podcasts listening to you talk oh i appreciate it i'm just mad that kevin beat me in views i guess i like that just disappoints me now my day's ruined i don't know if i could focus on this podcast what do we have to do now what do we have that's why jeremy came back on jeremy came back on just so we can get more views than kevin and then we're going to have kevin come back on and then what we're going to do is have you and kevin and then we just break the platform it'll only be kevin and jeremy we're not even going to be in it just them exactly then we just break the platform just you just shut down the next thing you can't handle that oh gosh thank you for this iced coffee today graham by the way i didn't come with starbucks today so i appreciate this like last time oh of course make sure to smash the like button for that it's always some good news and for those of you who do not know jeremy has two youtube channels and he talks mainly about stock investing more so long-term strategies than short-term strategies and yeah i mean what else is there to yeah so in your public account so you have a public account where you basically show the stocks you're investing and anybody could see it that's almost up to a million dollars right it's cruising yeah a lot of people think it's gonna hit a million this year i'm i'm a little worried yeah i don't know man because tesla might kind of like start just kind of chilling for a while and that's the biggest position in that account so but yeah i'm super thrilled with it it's been it's been a hell of a past couple years i can tell you that what did you start off with in that account that account started from zero i started adding money in we just you know started building building building um i got in a lot of good deals in like november december of 2018. the market had a big dip in q4 that year that i started building out you know tesla heavier sky work solutions facebook started building those positions and um and then we just kept rolling into 2019 i got some hot stocks like elf this year it's been uh like fizzy get dizzy national beverage corporation you know we have nicknames for them all um and and planet 13 and a few others and uh so that account we've just been we've been roaring the only really bad stock we've had unfortunately was the ccl which unfortunately you know with a once in a hundred year event man sometimes you you got one of those bats i bought in carnival at like 11 well done it was like 10 or 11 or it was like 9 10 or 11. and i remember thinking i put like i think it was like 10 grand maybe it was 10 15 000. here's just a bet if i'm wrong and wrong if i'm right then hey i'll make some money off of this but i put in it at one of the worst times and i think what is it that no 17 yeah i think well maybe 16 i don't know the specific price but yeah and cheesecake factory you got me on it by the way graham got me on a cheesecake factory and i've made you know like i think 40 on that stock yeah thank you i yeah i got a cheesecake factory i think it what price was i telling you at it was under 20. i think it was like 18. yeah so i bought in i bought in just a big chunk i think 30 or 40 000 at 18 and then when i saw it hit 30 i was like what but you know what the reason i i started to notice this when i invest in companies that i use myself they always do well cheesecake factory was one of those when i was telling you about this i would go and get the cheesecake factory for takeout and the line was crazy this is like the worst of the worst like at the peak at the shutdown everything the line for cheesecake like you would have to order an hour in advance yeah i'm thinking i can't be the only one cheesecake factory is good food good prices so i'm gonna put my money where my mouth is and that paid for all the cheesecake factory of a lifetime yeah i just like to do it that's the way to do it right basically every tesla owner that i know as soon as they got a tesla they started buying tesla shares yeah because they saw how good the product itself was which i think is a pretty good strategy you employ that strategy as well right yeah yeah i mean i i i buy into companies all the time that i actually use the products and like the cheesecake factory we go back to that one i did the same thing i would go to the cheesecake factory it was busy i would check out like north italia another chain that they own that was busy and i'm like um i was right there with you and i saw the financing they did they got they raised like i think it was 200 mil in april and i was like they're going to get through this fine and and sure enough you know here we are and you know incredible gains but thank you for uh yeah for for putting me down absolutely uh another few uh docusign was a great one yeah dropbox dropbox is how often come is it yes that's an up and comer that's going to be 2021 through i think 2025. it's going to go on use that all the time uh rocket mortgage it's not that people are talking about that one yeah so i i invested in rocket mortgage recently okay and uh i could see it because loan demand right now is just crazy yeah and especially rocket mortgage i'm seeing so i have the mentorship group linked down below in the description uh but lately people are comparing the rates they're getting rocket mortgage has consistently been the best rates for people consistently and this is this is not just like one person the group it seems like multiple people now are like i went off the other person's recommendation i went through rocket mortgage they are gonna be this crazy deal so i i think and it usually will take a few months for this to start showing up but i think we give it a few months yeah rocket mortgage is gonna be great yeah i mean i've done a lot of thinking on that one the valuation's a bit high but so the one part of me is i think they are killing it right now and i think they're going to continue to kill it for like at least the next year because everybody's refinancing like crazy yeah including uh we just refinanced on our house um recently because we got down to like 2.7 or 2.8 percent and so uh from whatever we were at 3.6 or whatever and so i'm looking at that one but what i'm worried about is i'm worried about when everybody gets done refinancing what does that look like for them so that's kind of what i'm trying to judge because you have you're paying a a hefty premium for the company that's valuation-wise and then it's like how long does this insane demand they're gonna have for the next six to twelve months how does it keep up for two years three years or are they good forever with the with the super high demand that's true how is rocket mortgage able to offer such low interest rates on their loans is it just because i'm guessing they don't have like a brick and mortar right it's a low overhead it's an interesting stock ticker symbol rkt okay yeah yep exactly what do you think of the study that easy to pronounce ticker symbols tend to do better yeah i don't know about that i haven't seen the studies specifically there was a study that analyzed 30 to 40 years of returns you found that easy to remember and easy to spell ticker symbols like cake for instance tend to outperform the broader market wow consistently yeah and we could take one step further what about companies that the name of the company is the same as a ticker such as zoom because zoom is zoom like the ticker symbol is the same as the company zoom zoom z-o-o-m uh that's interesting but then you also have zm everybody's thought that was zoom stock and they were invested in body crazy oh gosh and the stock went up like more than actual zoom stock went up people got so lucky and there was another one uh ford f-o-r-d is not forward yeah it's just stuff right so people were buying ford uh in anticipation of the bronco coming out instead of just so ford saw a blip having nothing to do with this there's been a few of them what was the other oh fang did you hear about this there was this okay so it came out it came out that like fang stocks are doing this crazy thing but fang stuffs are up like 80 90 so far and there's a company called uh bang f-a-a-n-g and people were buying into that it went up like 200 percent in a few days wow just out of a mistake yeah that's right yes you see it being like a few dollars and it shoots up to 14 and then back down a few days later when people realize the mistake the real thing for you those you facebook apple netflix google it's like an acronym that's used out there in the stock market space a lot that's ridiculous yeah that whole story yeah jeez it's funny do you guys know how companies lock in different ticker symbols um i mean you just have to go through the process as long as it's available usually you can get it approved as long as usually it's uh four letters or less so yeah as long as nobody else has it you can pretty much claim it on whatever you know indices you go public on have you thought about starting an etf i've noticed kevin o'leary had an etf fund that's tempting oh shares yeah we call them we're looking into it it's a possibility um it would be interesting we're just we're just it's something we're looking into but i don't know if we'll actually do it because i'm still not 100 sure on like you know what all the legal requirements are around that and and um you know if you have something like that can you come out publicly say i'm buying such and such stock if you have your own etf um i don't know it's it's something we're exploring it's going to take a while though yeah how would he make money with that i don't know i don't know that's it maybe it's a management fee i think that's an expense ratio i think there's some sort of management fee you get off that but i'm not 100 sure so it's something we'll look into next year and try to see if yeah i think a lot of people would be interested if i did come out with something like that of course because your gains are crazy too right yeah what's your average roi since you started the public account public account so well last year i know for sure we got a 91 return uh by fidelity but a lot of that was tesla i'm gonna be the critic 100 yeah yeah yeah 91 last year one year rate of return we're at right now for the public i think it's 151 percent calculated by fidelity um but yeah like tesla's been a beast um but almost all of our stocks have been really good it's just tesla's that like insane performer tesla's the one that's gone up i think we're up eight hundred percent now in tesla what would you say the return would be without tesla without testing that's been one of the biggest critiques yeah that i've seen so far is that portfolio is led by tesla for tesla yeah i would say probably more to like 40 to 50 percent okay because maybe a little higher than that uh one year rate of return we're talking i think maybe even up to maybe 60 because although tesla's up massively it was already going up a lot um into this past year and then tesla represents about 300k of that portfolio out of about 800 something thousand so i don't know we'd have to do the math on it it probably wouldn't be i would say forty percent to sixty percent one year rate of return got it if i didn't even own it tesla got it so um yeah so i mean i'm thrilled about it but yeah you know it's all about like one stock can can pretty much almost change your life i mean i i've seen it with countless people the amount of people we have like in the six and seven figure club that got carried there because the tesla stock is rooted yeah i remember um uh one guy i met a while ago amd i think he was in your group yeah probably yeah yeah yeah yeah when amc yeah he was in your group and he put like what two hundred thousand dollars into amd remember that like but it was 15 yeah and sold it at like 60. the crazy thing is if you go back five years ago amd was like two three dollars a share and now it's i think like 70. yeah something like that imagine you load up you believe in it so much at two three dollars and you're like this company's got to come on a great comeback they got a new ceo and uh oh gosh but the thing is like if it goes from two to four you know a lot of people are gonna sell yes you know like i just doubled up my money i'm getting out of this you know but uh respect to the people that have held yeah it makes me wonder too how many people have held bitcoin since it was worth like a dollar 50 cents until now yeah because a lot of people say oh i i had 200 bitcoin back and they didn't but yet that's a good point a lot of people would sell as soon as it doubles from you know a dollar to 30 you're like oh better sell this every time i release a tesla video there's always like that one or two comments of somebody saying you know tesla went up initially like 30 40 and they sold out and they was the biggest regret of their lives or their financial lives it happens all the time man because it's just like you you see you know with stocks that's the thing is difficult you log into your account you go on your phone you're like i just made 30 in two weeks on the stock or three months and you're like this is ridiculous the next thing you know you're just feeling all emotional and you're like i gotta lock in my profits let me let's just sell how often do you sell shares in your accounts very rarely yeah it's very rare um i mean the only reasons for me to really sell is if i'm getting too over diversified where it's too many positions and i'm not getting my account focused it's just like i'm all over the place or if the company fundamentals change for the worse i don't even usually sell even if i feel a company is super highly valued for instance tesla i still hold tesla in the public account every single share of all those you know well it was originally 150 then they split so now i think it's like 750 shares but it's gone up so much and i'm still not selling even though i feel like tesla stock is is very expensive i'm not selling tesla just because like like why why would i sell it just because it's highly priced that's all relative right you know we're filming this in santa monica and we could say well that house is highly priced it's well somebody might pay that price so um so yeah it's it's pretty rare that i'll i'll sell positions nowadays i'm just like like facebook skywars i'm still holding every share i bought in those when i was buying back in 2018 in that account i think i got 371 facebook shares in that account and i can't remember how many sky works but yeah it's just not it's not worth getting rid of great assets whether it's stocks real estate in my opinion that are long-term investments years it's just like why would you what am i going to do put in cash cash is you know getting devalued every day how many stocks do you like to have at a given point uh so public account i have 15 stocks and that's about what i'm comfortable that when it goes over a million i might take it up to 20 but i really want to keep it under 20 because you get to a point where you just get too over diversified and you got to you got to keep in mind you want to be diversified but you want to have your money in the best positions possible and so you know we have it sometimes where somebody will join the private group and like we do like portfolio reviews where they can send me their portfolio sometimes these people will send me their portfolio dude and they'll have like you know uh 35 000 in their account and they got 35 stocks and it's like a thousand a piece and it's like you're all over the place man you should if you're going to be at that point you might just buy an index fund if you want to be an individual stock picker you need to be in your best positions you know those those you know especially with that small amount of money you might want to be in your five or ten biggest positions uh your best positions that you love the most that's where you're going to get the gains that seems like the opposite of the kevin o'leary approach yeah probably five percent so so if you have a hundred thousand dollars you should do five thousand dollars per yeah and pick 20 different stocks i think though in a situation where you have much less money like 35 000 or 100 000 there's only a certain threshold that you kind of need to surpass like you said yeah if you had 1 million you'd have 20 positions but if you had like 50 million you'd probably have like quite a bit more because then you start changing your priorities to capital presence yeah exactly what once you get a ton of money yeah it's about not just growing your money but keeping the money as well 100 but i mean when you're on the come up you know it's like i haven't known anybody in in my life you know personally who um got truly rich right without being um super into one thing whether that was their business or a couple real estate properties and it got them there or a few stocks that made them you know super successful um you know so it's it's hard to be you know have your money all over the place a lot of times the game changer for you is is having your money in the five to ten best things you got going for you in my in my personal opinion so how do you pick stocks let's say i'm a gosh that's yeah let's go through the process jeremy six hours later yeah we're in part two at that point oh gosh i mean the the biggest thing at the end of the day like people always ask me like what's the biggest thing it's it's the fundamentals of the business it's by far like you can look at all the metrics return on invested capital uh return on equity price sales ratio forward ps trailing fees you can look at all these things prices sales you know you can look at so many different factors but i can tell you it's always the business fundamentals all right but let me start here what website do you go to first uh well it depends on what you're looking for i mean yeah you know yahoo finance is still you know although it's gotten progressively worse over the years yeah we find it's still pretty decent okay um for like getting basic information about a company so let's say you want to look into apple stock you know you can type in apple there get their their metrics and things like that but of course if you're new to the market you aren't even going to know what the metrics are right so but i mean the great thing nowadays is you have google so like let's say you hear me say ford p ratio and you're like a four p e ratio what is that like like i don't think people quite get this like literally you can google on your phone what is a forward p e ratio and it will be explained you exactly down to detail from like investopedia right on google um we're gonna get comments right now what's a forward p e ratio what is that a four p is basically looking at the next 12 months of earnings versus where that stock price is at right now it's one of the most important metrics i personally look at because as a as a forward-looking investor i want to focus on where this company's going over the next year but also a few you know several years out and uh yeah i mean the you know to get back like the business fundamentals so important like people way overlook that all the time they want to get caught up into the the metrics and all this companies cheap and things like that it's like if you can find a great company that has a decade of growth in front of them more than likely you're going to make an insane amount of money it's just as as simple as that basically um you know amazon i i looked into amazon my first time i think was 2010 right i love the business model loved it i was like this is brilliant i looked at the valuation i thought that's too expensive amazon was like 50 to 100 a share back then it's like what three thousand dollars now that was stupid you know what i mean i should i should have been buying as many amazon shares as possible because i understood this business model is a game changer so although it might look expensive put the money in man put the money in so it all comes back to the ceo and the business fundamentals and where that company's going and competitive advantages they have in the market what are the biggest red flags you see when you're evaluating a stock you come across something you're like oh no this is a deal breaker uh really bad balance sheet what does that mean so you know balance sheet is essentially the financial health of a company you know you think about your own your own self and your own life right you have you have your own balance sheet you have a certain amount of assets and liabilities uh debts things like that and you know obviously if you have too many debts that's a bad thing especially if they're bad debts and i think balance sheet shows like the competence of the management team i think is big you know if if a balance sheet is really bad let's say for instance and they're loaded up with debt they have hardly any cash it just means it's a mismanaged business and like what the heck are they doing more than likely so the balance sheet is honestly one of the biggest keys like that's going to drive the whole business because if you don't have the money around in a business how do you how do you invest in the business do you look for cash on a balance sheet i'm looking for cash and investments and i'm also looking at what are the debts uh short-term debts long-term debts i'm not really looking at their rent related debts because they started um accounting for that on balance sheets over the past year or two and i think that's kind of a mistake in my opinion um like long-term lease liabilities but i'm looking for all the other debts essentially so yeah that's really big um you know that's one of the that's one of the red flags another red flag is if the ceo buys a yacht like the gopro ceo did [Laughter] no i mean sometimes these management teams you know um you know they'll get really rich you know obviously you take a company public you get really rich and then you you maybe get a little uh unfocused so i think if you see a management team that is focusing their attentions on more leisure activities than business was that was that a disc towards trevor milton that was bought with 35 million dollar ranch exactly what do you think of that that that you've been taking down trevor milton oh uh nicola yeah oh yeah yeah no allegedly because i don't want to get these videos taken down allegedly they have now been removing videos that show um their truck going downhill allegedly wow a few channels have uh complained about that yeah the red flags for nikola were there that's why a lot of us were calling it out and people were like oh or you guys just you guys are you know because i'm talking about the whole like almost everybody in the tesla community myself and a lot of the other most important like youtubers in the tesla community we're all calling that out because it was so sketch man like the whole situation was so sketchy you wanna talk about red flags it was just loaded with red flags i thought nicola was almost like a joke company because it was like nikola tesla yeah it's just it seemed like it seemed like it's just a bad copycat of that yeah but it goes to show you that to me was like the most elaborate i don't want to call it like a like a hoax yeah i don't want to call it a hoax but it was one of the most elaborate plants yeah that i've seen in a long time i mean this guy made how much money partner he got a partnership with gm yeah who's now i guess looking into they're reevaluating that yeah we'll see yeah we'll see how it all turns out but yeah i mean you know that was just uh a massive risk that honestly you know has paid off really poorly for most investors you know i mean at peak i think it was at 90 dollars uh you know nicola so yeah i mean the the thing is you know if we draw it back to like why are people even getting involved with nicholas talk why they go up so much everybody wants the next tesla everybody wants the next tesla man and they're so desperate for it so desperate for it so what do you think has the potential to be the next tesla uh well there are few companies out there i think i mean the stock i'm most excited about if we're thinking about growth over the next 10 years i would say probably plant 13 it's a risk like yeah it's a risk like tesla was back in the day you know you're going to say that yeah it is it's just there's nothing i can find better than that um for for the reward potential now i can find more attractive risk rewards than plant 13 out there meaning you're balancing what are the chances you lose money in that stock over the next five years versus you make you know a double up triple up quadruple up with your money but yeah i can't really find any i've looked you know at you know i look at stocks all day pretty much and i can't find anything that has that type of growth potential um because you're talking about a company that basically has one massive store they got a store opening up in santa ana in 2021 they had their other little store in vegas opening back up which was making like five mil a quarter like that's just a little store um and their brand's expansion it's just like if they if they execute man that's that's gonna be a multi-billion dollar company what about snowflake snowflakes got such a rich valuation on now i mean it's incredibly you know i mean in the in the spectrum of like the richest valuations you can find or like the cheapest companies you can find snowflake is literally at the end of the richest companies you can find in terms of valuation being insane it doesn't mean they can't fulfill that over time but yeah i mean the valuation has gotten pushed up so much because everybody's desperate to get in the next sales force or another one was game that's what it seems like for me everyone just wants to get in like what's the next quick like money maker thing and they're all it's like this big hive yes a bees it's just like oh let's go right here into that and they pump it up and then it's like oh what's that over there yeah they blow it up yes and that's what it seems like these little spots of just but if you time it you time it right and that's what i think everyone's thinking yeah everyone has the same mentality like if i just time this right everyone's gonna bump it up and then i sell two days later i think that's what happened to snowflake everyone thought that they were gonna get in early ride it for a day or two and then drop it but all of that momentum in the beginning just shot it up and it did nothing but go down yeah 100 we were you know and it's even worse in like the vc space we were we were chatting you know blake and i on like the ride over here from vegas yesterday and we were talking about he's like would you ever do like a vc fund or something like that and i was like if it got way less competitive maybe but in a vc space like if you think what's going on the public markets is bad like look to the venture capital space man because those guys are so desperate for the next facebook or the next chime or whatever it is they will push valuations up to whatever they need to just to try to get into the next maybe big thing like it doesn't matter almost what you launch as long as it's some sort of idea and it's growing it doesn't have to be even a business model that makes sense for the most part as long as you're growing users somehow like these vc guys are desperate to put money it would be so much fun to try our own hosting of shark tank just do our own thing could you imagine that we could try it whoa seriously and just and get people who just don't you know don't have the other resources uh of getting themselves just i'm talking like i don't want to say kids but like young adults who don't know where to turn they watch youtube videos they're like i have this concept or this this thing i'm working on i just don't have the capital for it because i'm stuck in a full-time job but if i leave that drop i can't pay my rent but i need like 30 grand to get this off off the ground and to support myself for a year that would do so well i like that like maybe we should do that we need to do it like a youtube edition yeah yeah but the thing is we don't want to copy shark tank like verbatim because then it's like all right just copying but but have a cool spin on things get like three of us four of us together and just the the maximum would be like 50 grand well and you're you're friends with kevin o'leary now so we can get him on the show oh jesus yeah um you know what we might have to just turn these off and on you guys are both white i know what are the chances man but uh i think that would be fun if you guys like that idea just uh let us know down below in the description i'll make that happen uh i think that would be a fun concept have the platform i'm sure there are people with good ideas jack you could screen through these and make sure they have like a legitimate business how much money they need just get the basics you know what it would be it would be like taking the phone calls on the second channel except in person and they're pitching an idea that would be cool but we have to the hardest thing to execute on a plan like that is we're going to have to come out with a more epic music than shark tank yeah how can you beat that music that's difficult man we can have a funny spin on things i don't know yeah we do we'd have to make it different enough if if that's a concept you think is actually worthwhile i would do that okay like just fun we would allocate like 200 grand and do and do whatever it is and just be like we're going to give away 200 000 or like invest 200 000 in certain people that's actually a concept i wanted to do for a long time was being able to invest in a person and i got i actually got this so so what my plan was this was like 10 years ago i wanted to be able to do something where like i like a specific person and i could be like i'm going to give you a hundred grand and in return for that i'll get like 10 percent of how much money you make for the next like 20 years yeah something like that whatever it is however much but uh it's so difficult to actually implement that because they can have write-offs and expenses and they buy like certain stuff to get their income down and i thought that would be really interesting and then i got an offer this may have been two years ago i'm not sure if you showed me this jack the the guy who wanted to invest in me he offered me what was a few hundred thousand dollars in exchange for like a portion of how much money i'm gonna make in any venture i don't remember that yeah this was like two years ago what percentage was i don't know i'm sure i could find it um that was me that did that yeah i don't know if you guys want to talk for a second i'm sure i could i'm sure i could find it it's it's so what percentage of your public account is principal or how much is principal i would say probably 300 ish maybe a little over 300 of the 800 and whatever it's at 60 um is probably money i put in because we're we're profiting you know like let's say i sold all the positions i have in there right now were it would be 400 and i think 50k or somewhere around there roughly of profits i could take today that's just pure profit never mind what i've taken over the past few years um which i took a good amount of profits in elf cosmetics i took a good amount of profits in cruisey doozy and i took a few other uh profits so yeah i mean you we've definitely put in a good amount to build out those positions and like my whole investing strategy is like putting yourself before you can actually get to investing always have yourself in a position where you can put money in your accounts one to two times a month so you're always able to take advantage of dips in the market so you've got 300 grand about in principle in your public account something like that yeah maybe a little over 300 but yeah somewhere around there and do you still ever contribute to the principle yeah i try to once a month if not twice a month every month um you know i try to run that like i run any stock account essentially where you i'm i'm in a position where at least once twice if possible three times a month you know contribute some sort of money and just keep building and building and building so and what do you have in store for when you hit a million nothing absolutely nothing you're not going to do it come on yeah the celebration dude that's good promotion do you have any celebrations when you hit milestones like that like net worth milestones you used to i used to yeah i mean what did you do when you hit a million let's talk about that no no hundred thousand five hundred thousand a million what did you do so uh actually ten thousand dollars i remember i took my whole immediate family out to dinner they didn't know what it was for by the way but i i knew i had hit ten thousand dollars net worth um 100 000 i think i took um i can't remember but i know i took us all out chipotle yeah no and i know i took this all out uh when i hit 100k too i didn't even do anything when i hit a million are you serious i didn't do anything no yeah i'm kind of disappointed i don't know did you just like i don't think you did you did i've talked about it before what'd you do yeah i don't think i know the story either yeah really not i've mentioned it multiple times um so what i did when i hit the million it was i think it was on like it came on a perfect day like it was like a friday thursday friday saturday one of those nights and i had a few friends and we got together for happy hour sushi didn't i i was the same way i didn't tell anybody what it was for but i'm like let's grab sushi tonight that was it so i got happy hour sushi i think i may have gotten like a happy hour beer or something maybe i don't i don't know but that's what i did nice yeah i i do believe in like taking people out for when you hit milestones and things like that but um yeah man i i didn't do anything when i hit a million but you you were at ten thousand dollars net worth is when you you took your family out to dinner yeah i might even have done it at a thousand to be honest like we might have been a very affordable dinner like 60 bucks you know maybe we all went for pizza and wings or something like that when you hit a hundred dollar no could you imagine that you spent it all and then you actually were down afterwards yeah i would imagine if you spent like a hundred dollars on that dinner with your family at ten thousand dollars you could have very well dipped below the ten thousand dollars yeah that's true and then you have to celebrate again the next time you hit that thank you okay guys i had a special delivery come in just for graham's podcast i didn't have time to stop there's so much and yeah right uh yeah postmates ubereats or what postmates how much was that how much does that cost postmates delivery or plus a postmates charge so we're probably looking at ten fourteen dollars geez well you gotta tip on top of that with tax that's stupid though that's a twenty dollar do you know what that is unprofessional that's fu money that's when you have so much money hey look at these guys they use 20 bills as coasters okay who who are they fake it's fake it's got some some writing right there i know but uh twenty dollars for a drink i didn't pay for it blake paid for thanks blake gosh that is f you might think that doesn't have a scarcity mentality okay let's talk about scarcity mentality okay that's too deep of a subject we don't have i like that mentality you like i like i don't like the mentality but i i i appreciate discussions about it yeah definitely okay yeah i mean it's because scarcity mentality is interesting i mean i can understand you know and i had scarcity mentality i would say until about i want to say until about 2013. yeah i really did um why why did you have scarcity well so i mean when i grew up you know especially in my younger years we grew up in a rough area you know like on on food stamps things like that so right off the bat i was kind of like in the like mindset of like you know you got to try to get everything you can and try to save everything possible also i just started saving at a young age i was always really good at saving um so it wasn't like i went out and bought myself stuff all the time i had a little safe as a kid um you know even in like middle school this little safety open with the key and i keep like 500 bucks or whatever i had saved in there and so i always kind of thought in that way and then i never knew how to make a lot of money so it was like i have a limited earning potential and i'm a natural saver so it kind of leads you to more like a scarcity mentality i think what kind of got me out of it is when i started having like exponential growth in the stock market so like 2012 2013 in the 2014 and i think that started to lead me out of it and then when i began my entrepreneurial journey as uh you know with the real estate marketing company that's when i really got out of scarcity mentality because i was like oh i can make money for myself i can start businesses and then i just totally got out of that so i still like to this day i saved the majority of my income so i i spend a lot too don't get me wrong but i still save the majority but i have zero really like scarcity mentality nowadays um around like earning potential and things like that like you know like now i'm super confident like if you said you know youtube went away everything went away i'd be like i'll just start another like million dollar business i would just you know it's just like it's it's nothing now once you know how to make a lot of money it's just so much easier to make a lot of money because you understand how teams are built you understand how to build people together um you you have all these like resources and so like as long as you have the knowledge in your brain you can just go it's no different than imagine you go to the gym all the time and like you get yourself to a place where you can like bench press let's say 300 pounds or whatever right even if you were to not work out for a long time you're still gonna be able to bench likely a lot more than the average person it's just like you're just like you know you know how to do it and once you get in the gym again you start working out that muscle memory is going to come back because you just like your body knows how to do it and the same thing with your mind but your mind i think it's even more powerful so like like you you know if you if you know let's say everything went away you would be able to start something i i guarantee you and you'd be highly successful again i wouldn't want to do that i believe start over who does that's the thing i feel like i've worked hard enough where i just why risk it why risk it if i could cut back on if i save probably save eight dollars no actually i would save the inside because i wouldn't even do that yeah so right off the bat i'd save an extra 15 i remember working like two hours making working a whole hour making fifteen dollars yup so this to me is like an hour's worth would i rather have this for pretty much free or an hour's worth of my time to buy that yeah i could i could definitely understand that yeah there are certain things now where i feel like it does make sense to try to buy your time back um so there are aspects of that um that i do feel are worthwhile like i had jack drive me one time so i could edit in the car uh so that to me was a worthwhile uh expense because now that meant i can get an extra two hours of work in um where my time was really well spent yeah so certain things like that i think are worth it but this to me seems more like an extravagance extra like i wouldn't get the coffee you already have a coffee but my life wouldn't be that much better having this i would say my life would actually be worse because i just don't like those oh okay see my my quality of life would diminish my biggest weakness is food and drink if you if you look at me that's my best weekend no i agree okay me too yeah yeah that's that's my biggest weakness man i don't i don't uh i spend a little money on clothes but the only reason i spend money on clothes is simply for videos i i believe me i don't need that that's that's this is from again let me guess let me guess something it's uh it's not it's not oh no 80. no no no no it's uh you wear it all the time what's that one brand you wear all the time kenzo kenzo yeah kenzo yeah the ovo hoodie is probably about 150 200 but you could resell this yeah if it was new and still wrapped for probably 300 today because they go fast can i touch it yeah and this is holographic you probably can't see it because the lights i noticed it okay okay so yeah but i i don't care about clothes at all like if you see me like a normal life uh not in video life uh i wear like basic five dollar t-shirts but people love like interesting looks and things like that so i'll wear like the the ovo shirts and just like different stuff that i think is cool for videos because you make videos every day and and sometimes it gets boring man like if you just wear a plain shirt i don't know maybe people don't care some people care some people don't i find people like the plain shirts i i just like things without logos on them for the most part that's smart yeah don't give them any branding time no i i like that exactly i like that so how much better did that sip just make your life oh my gosh it's taste is so sweet and beautiful so sweet and beautiful it tastes like a ten dollar bill if you could drink cheese did we talk about this the last time how much money you spent a month i think we did yeah but i don't know how much so you don't know i don't know how much yeah i don't know how much we try to figure this out look do you ever look at your credit card statements and just see where did my money go you ever look at the end of the month and be like this is how much i spent yeah i mean well no i don't actually you don't no oh yeah you just have automatic payments on well my wife handles all that so yeah she handles that she just sent me a text today she's like we just spent two thousand dollars on blah blah blah today and i'm like wait what do you mean you spent two days blah blah blah yeah yeah well like facebook ads she's like we spent two thousand dollars just today on facebook ads she said something like personal expenses yeah personal expenses um i mean personal expenses i would say 10 to 15k uh as of next year is probably going to go up to 25 to 30. okay but what what do those expenses consist of consist of so right now uh mortgage on the main henderson house we have the arizona house which is going to be finished getting built in november actually so next month looking forward to that that will be a mortgage of probably i would guess like uh maybe like 2 500. it's not bad yeah something like that um the model x is a thousand a month uh the model three is i think 800 a month i want to say yeah the 700 800 okay um and then you know various other expenses food health care i have kids so obviously the health care is even more um and so yeah different things i mean most of my money spent on business related things like um business payroll is probably 50 000 every two weeks i would say wow 100 000 a month um probably 30 yeah 30 30 like uh most indirect so most independent contractors um so they've gained a commission or they pay some are paid commissions some are paid hourly some are paid weekly it depends uh my coaches um we have like seven figure coaches in there right because we have like coaching packages in the private group you know those guys are all multi-millionaires so you know and they work very high up at very you know popular tech companies um and so they're very very expensive those are some of my most likely people what do they do for you so what they do is like if somebody wants to upgrade so we have the private group obviously which if you join the private group you get all the curriculum you get discord access you get access to our forum access to me but these gentlemen are if you want one-on-one coaching experience so you want somebody actually getting on a call with you that is exactly where you're trying to get like in life you know multi-millionaire status they can walk you through everything which some people like that experience like they really value that me i can learn from a course like you just give me a course i'll learn but i understand there's a segment of the population that would much rather have you personally teach them something rather than you in a course form just teach them so you pay them to coach your people yup yup anybody that upgrades to those packages they pay you and then you pay the coach how does that yeah yeah if a client comes in they want one-on-one coaching from somebody you know like one of those guys that's had tremendous amount of success then um you know they pay for the program essentially and then i i pay the coaches so but i pay the coaches like a set amount and they're like some of the most like important people um so yeah what are the chances someone goes around your back they go to the coach saying hey let's cut out jeremy let's just do something on this i thought about that i think about all these things all the time it's possible somebody could try to do that but these coaches uh you know i mean i don't think they would do that to me you know they're like really good guys they they you know i mean they have so they're already so successful that it's like it doesn't even make sense for them to try to go behind my back and create a bunch of drama and and put a bad name and reputation out there and ruin a relationship or something like that but i have thought about that before i'm like i could picture somebody trying to go around it or something like that um yeah but yeah that would just be messy you know so that wouldn't be good for anybody but uh yeah i mean it you know the payrolls the payroll's no job that's a hundred thousand so you gotta be making many multiples of that yeah yep yeah i would say so i mean you know between youtube and everything else yeah definitely um and then never mind that like the stock accounts keep getting bigger and bigger and bigger um so when i make a profit you know it's bigger and bigger the dividends are bigger and bigger so do you do you worry if the market goes down let's just say over the next few years it's just every year goes down 10 10 10 like multiple years in a row do you how do you think that would impact your business well it's interesting because we actually do better in a what i found is we do quite a bit better in a downtrending market that's going down which is opposite what i thought but a lot of people um want to buy in when the market's dipping and so a lot of people have the mentality that i'm not gonna you know like if you if you're buying in the group it's because you think you're gonna take stock park investing super serious and if you think you're gonna take that and you might make that investment yourself and you know learn all that stuff it's because you believe you're going to make a lot of money right and a lot of people are trained because they watch your videos my videos everybody's videos and they know buy the dip buy the dip buy the dip it's something that's put out there all the time so a lot of people actually um when the market's going up like crazy they're like ah no i'll stay away from that let me know when the next time the market dips and then i'm gonna get involved my concern would be so far i'd say since 2010 the dips that we've seen have not lasted longer than a few months so a few months a lot of people will come and buy in and then it goes back up and that reinforces by the dip by the dip by the dip i'm concerned what would happen if consistently we go through four or five years where every year is negative and people buy the dip and then it drops another eight percent they buy the dip and then it drops another five percent they buy the dip ten percent many years of that and they just get to a point where they're like you know what why am i going to keep investing i keep losing year after year after year yeah this might not be for me i could see that if kind of two scenarios played out like one the government stops all sorts of stimulus and doesn't do any stimulus in the future and interest rates go up i could see that and if there aren't any special companies like if the united states we just stopped producing special companies i could see that it's a special companies where you really get the insane gains in the market it's the tesla it's the google it's the apple it's the amazon it's the amd it's nvidia so if we get in a scenario where there's just no good stocks because all the companies are crap then yeah that could definitely happen but for my the way i teach people it's individual stocks so it's all about finding the great opportunity so whether we're in a market that stagnates goes down there's still going to be stocks that way outperform and it's just about finding those stocks that's a beautiful thing if you're buying an index fund that's a whole different story though what do you think of the stimulus do you think i don't know if we want to talk about you know you should talk to you should be a stimulus it's tough man i mean this is the this is the edgiest yeah we've been yeah i think there should be stimulus so i mean part of me sees the overall economy as doing fairly decent you know we were out you know down there santa monica last night and it was you know it was a lot of business going on there was a lot of commerce um but i don't think we're getting a full picture because people have such limited ways of spending money and so i'm wondering you know when we go to some of these places and let's say it's busy [Music] maybe it's just because people have so much less to spend money on because you know think about it you want to go to a concert you can't do that right now your friends are closed gyms are closed you want to go to the uh rams game can't do that think about the massive amount of just events and things like that that are just completely shut down right now the convention business the meeting up in person um i mean when you start adding up we probably do need another stimulus package i'll be honest um and and then we really need the country to open up more and more in 21 i think otherwise we can get into some trouble you think it's warm in here it's not too bad i'm not like oh i'm dying hoodie yeah i'm fine why are you hot it's warm in here really i don't think it's warm in here at all we got a nice breeze this is the same argument you guys had when kevin was here yeah i wanted to see another another person thought it was warm in here yeah and so you know what do you think graham do you think there should be no stimulus so what are you thinking i don't know man i i think part of me just hates relying on the government for anything and just expecting that they're going to help us out i don't think is that is a healthy mindset to have because it could be i mean because then you're really relying on someone else to i think it's so much better to take things into your own hands initially i mean if you get something great but if not i i wouldn't rely on that and i also think that some businesses especially the ones that get these huge bailouts um i i i don't think that we should like teach them a lesson but i think some of those big businesses yeah that get these enormous bailouts why why are we supporting some of those business not all of them i think some of them are good yeah but um and also i think just a lot of reckless spending overall yeah that um that should be cut down i i can understand that point of view but i think on the other you know if you want to go to the other side there's also this whole like way of viewing it where imagine you have you know the local bar or club you know in santa monica or even restaurant and they're telling you you have to be shut down or right you are forced to be only at 50 bucks i'm talking about some of these huge but like i get like airlines yes now i get why they did did it for the airlines because they employ so many people so by bailing them out they've inadvertently bailed everyone else out as well i'm not the small bit like i think if the government forces you to shut down they should compensate you for that i think that's that's that's something that that should be done yeah um but i think the way it was done was such a mess but it was and it was rushed yeah the whole thing was rushed but uh could have absolutely i think have been done better i i worry about uh stock if you want to talk about what i worry about with stock prices i worry about it you know another stimulus and the stock price is shooting up a ton more probably you know yeah i mean why would you worry about the stock prices because i mean a lot of these companies already have really rich valuations i mean there's some definitely good deals on the market but there are a lot of companies especially a lot of these big ones that already have you know these really high valuations and if we put if if you just print another two trillion dollars just put it out there um a lot of that's going to end up in assets again and i think real estate's probably going to keep going up and stocks will probably keep going up as well especially when you talk about the low interest rate environment we're in um so yeah it's it's a it's a tough you know whole situation because you know there's definitely people out there businesses that need the stimulus because they're being forced to be shut down or they literally just can't operate the same um but at the same time a lot of that money just somehow ends up in uh you know the tops pockets and then the top puts it in stocks and real estate yep so and then your dollars are devalued so you know that money you got in your savings account is just you know being worthless i just think we're gonna have to pay for it in something else you might get some money now up front but you're gonna pay it back through higher prices elsewhere you're just going to do it slowly yeah what is it what do they call it death death by a thousand yeah thousand putts yeah that was it uh yeah that's what i think it's that's what i think it's gonna be you might you might get your money now but okay with the price of a loaf of bread now is a dollar more price of going out is a little bit more your dollar buys you a little bit less stocks are a little bit more yeah it's a whole bunch of things that just you end up paying for it it's true yeah which which makes your dollars worth less and less right i do agree i've always thought like considering the current climate of everything like with everything going on with the stimulus and everything being shut down there's no way that we're not gonna pay for this in the future because we really haven't i mean the dip realistically it didn't last very long whatsoever and we've recovered and then some yeah you know there's no way that we're not going to suffer any ramifications whatsoever frankly i think it's going to be i think it's going to be taxes i think all that all the tax rates are going to go up but who wants to be the one to push that that's that's the thing because you also if you tell everybody you're going to raise a tax on everybody and not just the richness everybody all of a sudden people start saying i don't know if i'm going to vote for you so i don't know if you just say you're going to rich taxa rich people are like okay that's fine you know some people are okay as long as it's not me but if you're talking about a blanket tax increase across the board a lot of people you know regardless of what side of the aisle you're honest and start saying hmm well you don't you don't just raise the tax rate you raise other little things as well so that the net turns out to be it's maybe you don't raise the federal income tax but you just you tax the medicare a little bit more social security an extra one percent yeah you add in a little few extra things you get rid of a few deductions or you complicate things in some way that people don't fully understand well they're considering raising the california's uh state income tax highest tax bracket to like 16.3 yeah that didn't pass oh it didn't pass thankfully no oh gosh no no thankfully thankfully so it's over that's it for now for now it does not mean it cannot be reintroduced next year which i think is probably going to happen they're going to keep trying yeah um but yeah the wealth tax also did not pass that would have been a whole mess in and of itself that's impossible to pull off i can't see them ever being a well-touched like how do you do that it's just too messy yeah you're going to force everybody to sell assets constantly and it's just going to create you can't do it so um and if you do well tax people with money are moving i could see them getting rid of the the capital gains tax rates for certain people i could see them taxing that at ordinary income i could see them also throwing in an investment taxes think about it if you invest your money that is means you have now almost discretionary income and uh that is not an essential expense to invest not necessarily i could see them throwing on a little tax on that that's a lot of many ideas i know but that that is a luxury to have the money left over to invest i could see that because they could be looking at it as if you should go spend that thousand dollars on a flat screen tv that a bunch of people are going to make money off of rather than invest that money and it produces no jobs because if i if i put my money in a stock it's not really producing any jobs if i buy apple stock it's not helping any jobs if i go buy you know ten thousand dollars worth of you know iphones all of a sudden a lot of companies you know benefit from that a lot of workers benefit from that whether it's here in china like imagine that like a one like a half a percent investment tax imagine that i do i do think though that like investing in big companies uh definitely helps the company though like giving them funding to continue their operations like although it's like it's like picking up a piece of trash it doesn't seem like a big deal in the greater scheme of things just picking up a little piece of trash on the ground but if everyone were to do it it definitely makes a difference it's like but there's something called the velocity of money yeah and it's in its what value your dollar has so if you take a 20 bill and you spend it that 20 has a velocity of a five so for every one dollar you spend it gets recirculated five times like you spend it at the restaurant they pay their worker with that the worker then goes and pays groceries at that that then goes to the grocery store owner who then pays their rent with that so it goes it circulates five times when you invest your money it has a velocity of like one and a half to two so for every twenty 20 you invest it's only getting circulated one or two times versus five times and you spend it so they look at how much money is circulating throughout the economy and they see that as what they've what they view as uh the health that's what that's what scared me in march and april because we've never shut off velocity of money like that and also just i mean not completely shot off velocity money but in a way we've never done before that's what freaked me out i'm like how do you get that back up and running and things like that but i think you know having all the stimulus out there i would like to see is them giving tax deductions for spending your money i think here's the thing i think they need to make it so appealing for you to spend your money that you decide to spend it instead of invest it if they literally say that the average person can begin deducting their expenses they take their standard deduction of twelve thousand dollars a year but then on top of that they could deduct the money that they spent up to two thousand dollars a year on restaurants up to two thousand dollars a year in discretionary spending imagine that's an interesting idea people would love to do that and here's the thing too even if they're in a low tax bracket if they don't fully understand we're talking about the average person a lot of people don't understand how that works and they're just like oh it's a tax deduction they don't know that them spending a dollar is only gonna save them 10 cents on that dollar yeah but wouldn't it also help like it would hurt those who like are on the borderline of investing like the lower income people that think about it but don't really invest and then you say you can just put your money elsewhere and then maybe maybe but in theory if you're spending your money that much that is going to help with the businesses which would then need to hire more people to then keep up with that demand because now imagine people spend 10 more everyone spends 10 more yeah incentives are huge man i mean that could i you know i agree more people would spend a lot more money i mean you think about like think about it in context of like why do i not just keep all my money in a savings account because i'm incentivized to put my money in stocks real estate stocks real estate go up i have money in a savings account it becomes worth less and less and less over time and so i'm like i don't want my dollars put in stocks buy real estate and so i agree if you're incentivized to do something just as a human like you're going to do whatever is the best play for you and if that's spending money you're going to do it i think that i think that would uh that would help if any politicians are watching this right now seriously offer a tax deduction for average people anybody can take it that reduces their taxable income from money they spent on um non-essentials interesting just entertainment food travel cars what else what else would you spend money stuff like that yeah you know give it to a little bit for the stock market i think there should be i know we have 401ks but just allow people in a taxable account to take some sort of upfront deduction something small they could write off 25 percent of what they invest something like that i think would would help imagine if they took it one step further and they were like if you buy from um let's say furniture manufacturers that make furniture in the usa versus overseas wow then all of a sudden you know all those industries start to boom and unmask what they what they would end up doing i'll tell you what they'll instead of doing that they'll put a tax on everything else not manufacturing that's what they want that's what they would do they're like you got to pay a 10 tax on imported goods but if you buy it here you know do that i don't know something something like that but anyway i agree i think that would be fantastic yeah they should they should do they should be doing that yeah anything that's manufacturing i run for office graham everyone wants i mean what do you think about you know since you're a california resident like what do you think about you know the california tax rates the state tax rates ridiculous man is it honestly i i've started looking in because i've never paid attention to the california attack ever in my entire life until about three years ago okay start paying attention the amount of money that california wastes is just insane it's so stupid just the frivolous spending and i don't get it we should california should in terms of the tax revenue be one of the most luxurious state like the like the most prosperous state to live in you would think that that outside would be like gold sidewalks and just flowers ever like if you look at beverly hills um their city is run so meticulously and then you look at other cities that are just i don't know where the money goes and i think i think it's just these these outdated models and and just the legislation and the hoops everyone has to jump through that by the time you get anything done it costs 10 times more yeah jack and i watched this video the other week about the two million dollar bathroom and it was it was it showed this bathroom that was two million dollars to manufacture and they say how does this cost two million dollars we built this other thing privately for what was it a hundred thousand hundred and fifty thousand dollars privately that's substantially better quality but this bathroom built publicly cost two million how does that happen well i feel like there's money going behind like i don't want to say there's like these handshake deals of like hey we'll employ you if you do this uh look at the government contracts yes government contracts it should because i i feel like and maybe i'm not educated enough on this to to know what i'm talking about but my understanding is that sometimes they have minimums they have to spend to show that they're spending the money so they suspend it anyway they don't they don't look they're not like if a person says like i'm gonna spend my hard-earned money on this i'm going to negotiate that i'm going to get the price down i'm going to cut costs and try to get the best value but when you're a government doing this it's like let's get it done how much is that okay fine whatever you just pay whatever so i think what what i would love to do or like have done is for someone to really go through the state's budget and figure out what's working what's not working where are we spending money and where is it going and figure out what can we cut back on where are we overspending and we should have a surplus every i mean really you would think that we should have such a big surplus but now we're at a deficit where does it go two million dollar bathroom yeah but but not only that but the but the homeless problem has been worsening it and it's it's gotten so bad yeah in the last i would say the last two years and uh i i think just the state isn't providing the assistance and the mental health facilities that should be out there yeah we also have a slowing growth rate so this past year we had the lowest growth weight rate that we've ever had since like 1900. wow yeah it's gonna be what if it's what if it was to go negative that's the that's a big question it's gonna start going everything yeah this this last year had a net uh migration loss negative oh so it was or it's already gone last year was negative in terms of uh migration in to the uh into los angeles county okay but los can los angeles county birth rates increased to the point where we're still growing but the migration into los angeles decreased for the first time wow but it makes sense housing is so expensive state tax rate is so expensive uh the whole city i think is deteriorating i've never said that like i grew up here yeah 30 years right yeah and i would say the last three to four years have just it's gone worse and worse and worse and then maybe what do you think this whole pandemic is kind of like the the knife you know finishing off putting in the coffin yeah i think it was already going downhill okay um and i think when people realize that they could work remotely i think a lot of people are like you know what i'm gonna leave wow i think the state has potential to to return back but if they really got to just get down on that where this money comes from because what they're doing now is like okay we don't have enough money let's jack up the tax rates but meanwhile that's driving people out nothing is getting better they're going to tax people more they're going to have more to spend but they're still going to have the same problem it's just overspending yeah it's lifestyle inflation on a state level it's like someone making 60 grand live in paycheck to paycheck then you're like all i need is 80 grand give them 80. somehow they still living paycheck to paycheck where does the money go the state i think is doing the same thing and it's really sad to see yeah i was covering that on my channel recently in like san francisco like they're talking about tents everywhere man yeah and you know you come out of your place there's needles on the ground there's feces on the ground like you you know and you live in yeah it's like it's yeah it's it's the same way you expect it to be so bad i started spending more time here i mean it's gnarly yeah it's insane you have a venice beach where you have these two to ten million dollar houses and ten feet away or sometimes in front of these houses are tents there are people living in tents in front of a 10 million house what the heck seriously and it's it's it you don't believe it until you see it yeah that but there's not only this this big wealth gap but the state does not have the resources or the facilities to assist these people and give them the proper care they need because that's really what it's about it's not about get the homeless people out from my house not in my backyard it's not about it's about making sure the resources are properly funded to take care of these people properly because right now they don't exist i don't know where the money is going yeah that's crazy not only that yeah also crime rates have been increasing dramatically yes but also but but what what's increased lately is that they're not i my understanding is that they're taking former uh like felon charges and calling them misdemeanors because jails were being overcrowded with petty crimes so crime under a thousand dollars that would include um uh narcotics uh small theft stuff like this wow and previously those people would go to jail but jails were getting overcrowded it was too expensive to fund the jails with all these people um so they said we're those are gonna be misdemeanors and we're just going to almost stop enforcing those wow and as of recently they've been letting people out and also just not arresting people for little misdemeanors and stuff like that or maybe even more serious crimes because of the illness as well so they've been really cautious about that so since we've started experiencing the illness there's also been a dramatic spike since then right and it makes sense like initially when you see that on the ballot it's like why would you put someone in jail let's just say that's going to cost 60 000 a year to put someone in jail for a crime that was let's say 400 bucks why would you the numbers don't make it so on the surface people say okay fine but what what ends up happening is that that those crimes become a lot more prevalent because they're not enforced and those people don't get necessarily the resources that they would have to lead themselves to turn their lives around like i was reading stories online of um uh drug usage of that that whole thing yeah and some people were saying listen i was that person who and it just doesn't apply to everybody yeah but somebody was saying i was that person i was buying drugs i was on this path going to jail was the best thing that happened to me because it forced me to confront that and enter into sobriety yeah and they're saying if if i never went to jail i i would have continued down that path i could see that and i think a lot of it is mental health related and uh i think in the 70s is my understanding a lot of those facilities were shut down um i don't i don't know the reason i don't know i don't know how much this costs but it's just something needs to be done it's not getting done uh throwing more money at the problem is not going to help i think the whole thing needs to be rebuilt from the ground up yeah i mean you know driving over here there's a guy like was walking down the street here and and he's like and he's walking barefoot on the ground yeah it's just like he's like out of his mind is i don't know if he was on something or just has like mental issues but yeah like that person you know i you know yeah that was the stat that i looked i think it was 65 of homeless or mentally ill in los angeles i read up a study on this um i think another it's like 15 or 20 percent uh narcotics and i think there's a small portion of those people that are truly that are down on their luck but those people are typically transient and that they're they're homeless for a short period of time okay before they can get themselves back up and running i just don't think the social services are good enough to help the people who really need help yeah all right it's crazy though everywhere you go you see people like that everywhere you go my first week here i was driving to ralph's and i saw a homeless person walking on a crosswalk screaming at a palm frond pointing and screaming at a palm frond making a huge scene i saw a homeless person walking downtown and there was an old lady eating at like a restaurant with her family and this homeless person's running uh like back and forth on the street stopping cars and he walks over to this lady puts his head this close to her and just yells like nothing sensible just into her ear and this is also during times where we have the illness yeah and this person is like invading her personal space yelling in her ear it's just well that's that's the thing is that now families are feeling like they're not uh they're not safe here yeah well you get a lot of families yeah who what is that that that lady's probably not going to go out again no way she's like you know she's going to be terrified yeah she's like i'm not gonna that was hard to see and also like mornings now i sometimes go surfing once or twice a week and when i go surfing on the beach homeless people are just like everywhere just sleeping on the sand as well yeah it's gotten really bad and um what i've been hearing as well is that again i don't have any definitive proof of this but my understanding is that other states will take their homeless people here to california and to los angeles that that's been my understanding from what right i don't know what other cities and states you're talking about you mentioned to me you may and i did some research on this and i was curious that you told me las vegas offers their homeless population a one-way ticket to anywhere they want and a lot of it ends up in we do that california but uh i i was researching this a lot of other states do that as well oh wow yeah and and it is a thing so i'm not the most educated on this so i don't think any of us are yeah so i don't want people to take it to los angeles yeah so i don't want people to take this like for fact right do your own research understand just talking about my experiences from my limited yeah it's but it's it's gotten a problem regardless it has changed dramatically i've lived in here my entire life in the last three years i would say the last 12 months have been the most transformative i've never seen it so bad before ever but why do you think they're all coming to los angeles if we have such bad programs and assistance i think i think it's enforcement i think it's because there's very yeah there's no enforcement good weather um yeah which is very important and also safety in numbers you're less likely to be singled out if you're in a group of thousands of other people there are communities like you walk and there will be hundreds of tents lined up and they're playing music they're like having fun yeah like no absolutely if if i were homeless i would rather be in a group of other people like that it makes sense that yeah and not on my own somewhere with bad weather so it makes sense why they would come here i get it but it is just sad because people shouldn't like have to live like that right they should have programs we should have some kind of funding or at least redirect funding for coming up who knows elsewhere right and you would think for the tax rates that all of us pay that there would that some of that would be going towards funding programs to help people like that and it's not i don't know where it's going geez that's intense man yeah yeah i don't know where it's going either that's it's a whole sketchy situation because it's not like the highways are perfect and the roads are all perfect so it's not like you can say well yeah the construction's perfect here and our infrastructure is amazing so it's yeah let's talk let's talk about a little bit more about taxes i have a question for jeremy yeah did you watch the video that graham did with kevin o'leary uh i did yeah okay so kevin said that one of the biggest mistakes that you can do is not sell to realize gains when you think a company could be overvalued or 100 discrete disagree i mean there's a lot of things most of that video i disagreed with him on kevin o'leary you know i just have a different point of view no you don't i mean when you own great assets truly great assets you don't sell them unless things have changed or you need the money to put in better let me let me clarify this i said to kevin kevin said why didn't you sell some of these and then rediversify and i said i don't want to pay taxes because 50 of that is going to go to tax so i may as well instead of selling a stock for 200 and paying half of that it's the same thing as me buying waiting for the stock to go down to 100 i'd rather just not sell so you're saying you would rather not sell to not get that money taxed up front not even for tax it's just like where am i if i have somewhere truly better put the money an asset that's better put the money i'll put it there but why do i want to move that money to cash okay let's just say i sell an asset a stock of mine if the money goes to cash is that money better served in cash or that assets that's a great asset right if it's a truly great asset it's way better over there than in cash cash is just like we talked about it's just going to be devalued more and more over time they're going to keep print like this isn't ending like the the stimulus packages of the world will get bigger and bigger and bigger as time goes on i mean nowadays we're talking about two trillion dollar stimulus package you go about 30 years ago you couldn't even fathom that so imagine where we're going to be at 30 where it's going to be like a 20 trillion dollar package and we're like oh that's just normal you know it's just it is what it is so unless you have somewhere better to put the money why not keep the money there let's say you own a real estate investment property right and it throws you off it's a great asset it usually appreciates right and it throws you off some rental income and things like that why would you get rid of it unless unless you truly had a better property put the money in you had no cash so you you didn't believe in it it seems like you actually at the at its core you kind of agree with kevin o'leary it's like don't consider taxes when investing just kind of consider putting your money into good solid companies that you believe in yeah let's say tesla goes from 400 to 700 why did that camera die again let's say it goes from 400 to 700 um you wouldn't sell at a point where you felt like tesla's overvalued well you could make an argument that tesla's overvalued today right and i'm not selling but let's say it went to 400 to a thousand let's just say tomorrow because of a tweet from elon musk that you knew probably is not sustainable yeah maybe then maybe i mean that would be so insane because then you're talking about a 400 you know less than a 400 billion dollar mark cap into you know was that one trillion then i might have to actually consider at that point because that would be so insane but i mean as long as it's somewhat you know uh believable like like i test without 1164p very high but you can def i can see a way how tesla grows into that over the next five years if tesla's at a 300 ford p i don't know it might be harder or a thousand or something but in selling oh my god ramsay what happened oh what the heck he's way up there so in selling the tesla stock at one thousand dollars you wouldn't even think about taxes so that's what i that's the point i'm trying to get at is that kevin would not think about taxes when selling or when doing something yeah i will say i do try to make my decisions based upon fundamental decisions other than taxes taxes i mean i'll consider everything and you know when i go into a decision like that but that's like the last thing i'm considering essentially taxes is at the end i'm considering first to have somewhere better put the money is that really a smart decision things like that and then and then we can worry about you know taxes at the very end of the process what do you think of taxes what do i think of taxes so i mean i'm thrilled with taxes i think i pay a way lower rate than i should uh i'm amazed at the whole tax system uh you know it really opened up my eyes when i actually got like a a tax you know put like a professional tax count a few years ago i remember you know people around me especially my dad he was like oh you know once i started making you know uh you know really good money he's like you need to have a professional do this like you need to stop doing it yourself on hdr block or whatever and he's like whatever you you pay them you're going to get one of the highest rois you'll get paying anybody and i figured that out like i think the first year i used uh a professional tax person i think was 2017 17 or 18. and i can tell you like that very first year i was like what there's all these deductions of this and that there was things i wasn't even doing before that i even know you could do and then we got the tax cuts the next year i think was 18 right the new tax cuts went into the law is the 18 tax cuts and jobs act yes that's what it was and then like yeah you know so yeah it's amazing man i think uh you know and obviously i live in las vegas which is no state income taxes so you know i i i'm definitely because you think about it right i mean imagine let's say you make a million dollars a year and you have to pay you know let's say five percent of that to a state every year right so you have 50 000 less every year versus a state like like i live in where you have to pay no state income taxes you know that 50 000 over a 10-year span it's a half a million but it's a lot more when it's invested and you if you can get just an eight percent return which is very average i'm definitely able to get a lot better than like eight percent return never mind if you amp your your gains up to let's say 20 a year on average then imagine if it's 30 and if you can do that consistently for a decade or two i mean you're talking about a difference of millions if not tens of millions of dollars so that's that's where um i think that's where you really have to start considering taxes i feel like the more money you get the more you have to start considering taxes and figuring out man am i really making the best life decision by living in a place like you know that maybe takes a lot of your money so yeah it's it's it's really key in the whole thing and i cannot i can understand why some people even move out of the country you know i don't know if i would ever go that way puerto rico yeah the thing the thing that the united states is smart if you move out of the country and you want to not pay federal taxes you have to revoke your u.s citizenship so if you if you move out of country you still have to pay taxes unless you revoke being a united states citizen i think that's where they're intelligent otherwise i think a lot more people would do it yeah there have been stories of i've read online of people who revoke their citizenship and then spend less than 90 days in every country they travel to and they just pay zero tax they found some loophole i forget what it was called what was it like the flag it was like flag theory i forget it was like the five flag theory something like where they would travel to different locations for no more than 90 days at a time and pay no tax yeah you can move to monaco pay no tax you know i think dubai i think dubai also right yeah uh is it cayman islands wow i didn't know that yeah i i know like i'm pretty sure monaco dubai monaco real estate's insane i've actually looked into it before because i was like you know like this is many years ago i was like what if i get to a point where i got 20 million dollars in stocks 50 million dollars in stocks which was like five six years ago i was looking into this and i was thinking about it and i was like imagine you make 10 million dollars in stocks and you have to pay you know whatever amount to the government let's say you take 10 million dollars in profits and i was like man imagine a monaco you paid nothing you could still do all the same trades you know what i mean like you can do all your research all you need is an internet what are your time investing what are you talking about kevin about let's see if there's 10 million dollars in stocks and our last podcast we talked about all you need to do is get a loan against your stocks and just spend the loan then you'll never have to sell your stocks yeah yeah so i i looked for i didn't look further into it but i was talking to my friend about that and this is something that confused me a little bit so if you take a loan against your stock portfolio how would you pay back the loan without realizing the gains of selling off the the could be dividends but keep in mind you also let's say you you have 10 million dollars in the stock market you take out a 2 million loan now you got 2 million cash you could use some of that cash to continually pay back the loans your only net cost really there is just interest yeah they charge you the interest but then you're still gonna have to like i mean you don't just take out two million dollars to put two million dollars back into it yes you do because you're paying less in interest than you are in taxes so let's say the interest is five percent but your tax rate would be twenty percent it makes sense to pay five percent in interest on that portfolio than twenty percent in tax so you take out let's say two million and then you invest like a million of that two million and then with that money you're no you or you could have cash or let's say you could go and buy a house and the stocks produce dividends there's a lot of ways you could pay that off but also if you're taking dividends and stuff from the portfolio that you draw from don't you have to pay capital gains on that which is essentially the same thing right but it allows you access to a lot of money without selling that's true that's true that's true i don't personally do it but i could understand some people wouldn't do that i i stay away from margin nowadays because i just i you know the temptation is really hard when you start going on margin and then you see your stocks dip or other stocks dip it's really tempting to just say oh just do it it's not necessarily margin it's called the pledge to asset line you could do that too yeah so pledge to asset line they'll usually give you like 20 to 50 percent of your portfolio back as a low interest rate loan fixed for a certain time frame and um it depends on the stock like certain etfs and bonds they'll give you up to like 80 value other stocks they'll give you like 10 15 depends what it is but uh it looks really interesting charles schwab has something where if you have more than two and a half million dollars invested with them you could take out a loan it's under two percent it's like one point seven five percent uh for i think it's like a year to it's some absurdly low rate that you can get on stocks yeah in margins well you know i know we're talking about kind of two different subjects but in relation to margin it's crazy because i always thought the most you can take out is 2x at my peak craziness of 2015 with margin i was over 2x margin which was i i didn't even realize you could go that that far with margin actually so you know it's just completely dumb to do that because you you open yourself up to margin calls and things what brokerage do you use uh fidelity fidelity yeah i've been using them for about 12 years do you have any other brokerage accounts i i i have a robin hood which i hardly ever use uh i just set it up so i like understand how to use it because some people ask me questions sometimes what about weeble no no we do i do use chase uh i've been trying out their product um jp morgan very okay it's very it's it it's a worse experience of fidelity or anything else i really tried so i you know but it's still new yeah it's still new and i think they just did it because you know it's just competitive exactly you know stay relevant in different spaces everybody wants to be everything now all these banks are trying to be in everything man they want to be your brokerage they want to do this they want to do that that's where the money is though you have to lead in with something free they could charge you elsewhere like robin hood i could see getting into banking i could see them having their own credit card being a one-stop shop for everything and then now the banks are trying to do the same thing they're trying to be robin hood trying to be the banks yeah let's talk about my favorite thing and graham's least favorite oh options trading oh let's let's what do you what do you think about it and so and what did you think because there were there was mixed feedback i would say 70 i would say about 80 of people agreed with me when i told kevin that he should sell covered calls on tesla okay what do you think oh really quick i call it picking up pennies that's the term picking him pennies other people calling people you heard it and you do like jack what do you think about this like i was like that's not true i was like i'm gonna teach jack a thing or two no i've never of course i've heard of that but it's not true at all well let's hear we got the expert here i mean i so the real option is first let me just say one person's picking up the pennies and the other person's the steamroller okay right yeah but eventually yeah i i don't i don't sell covered calls i can understand why other people do and i know people that do it and do it really successfully uh it's just not something because my thing is i'm in stocks for massive gains like i'm not just in stock for that eight percent per year yeah um to yeah no if i'm going to try to get eight percent per year i'll just put my money in the index fund and call it a night and not do all this research right i'm trying to get 20 30 plus percent gains so being that i'm in that position i don't want to limit my gains just by doing like let's say covered calls or something like that because then you're limiting your upside so i get that that makes sense for you right like because you spend so much time picking out specific stocks and then you put a lot of money in these stocks and you hold right but you find a desirable price for these stocks that you're happy to buy them at right yeah so what if instead of selling covered calls it seems like it would be more your style to sell a put so that's when you receive the premium but then have at a price that you already think this is a good price point i'm happy to buy this stock and you also get a little bit of money on top of that selling puts is the strategy that makes the most sense for me because it's essentially putting a bottom on a stock and saying if it goes down to this price i'm willing to buy that stock and so yeah i have a friend of mine who's always like dude why are you not selling you know you should be selling puts you should be selling puts because you you believe this stock's a great deal at his price why not make some premium on that and then if it goes down a bunch more you're going to buy it anyways so go ahead and buy it so i i do agree um i should be selling put options i 100 agree it's just like man this this there's so little time in the day like you know that's the thing it's like there's so many things i could do in a day is is selling put options is it important enough to me or should i put that time in trying to find the next pla you know playing 13 the next test higher like that hire a jack i might to go and do i might observe i might literally manages all of your stuff like do you or do you coordinate with all of your people i have different people that manage different things for me but i have thought about adding it's interesting you brought that up i have thought about adding someone to my team that is just looking for other ways i can make money things like selling put options and be like okay so here's our portfolio here's why this makes sense now um and actually them being on payroll not like me outsourcing that to somebody else like them them being like my main man um or woman to like look into other companies too because then i was thinking about it one day and i was like what if i had somebody that i i personally train them 100 on what to look for in stocks and like it's the thing is it's hard to find somebody that's going to think exactly like me and have the experience and if somebody thinks exactly like me and they have experience more than likely they have a lot of money already yeah yeah and so therefore they might not even be interested in that so it's a tough thing but i should it would be really beneficial to me especially as my accounts grow bigger and bigger and bigger because what if i could make an extra half million dollars a year selling put options that's a half million dollars a year you know what i mean it's not like it's a small amount of money and as the numbers continue to grow and grow and grow um i think i think i might do that eventually over time even buying calls because if you are so confident in these can i do that sometimes you buy calls and do you see them through all the way till the end or do you ever when the company appreciates and value you exit the contract early call sometimes i'll sell early yeah so like uh i bought a facebook call uh shoot that would have been a year or two ago because i believe facebook was gonna go up it went up a bunch and it was a long-term call so when i buy calls usually i'm buying for two years or more that makes sense for you so the jan 2023's just came out within the past um three or four weeks now so you're getting essentially two years and like three or four months for that stock to appreciate over time i'll look at those opportunities from time to time especially in october november and some stocks that i think are really beating down and have huge upside potential i might play some 2023 calls in dropbox i might play some 2023 calls in nordstrom stock because those are two stocks that i think are likely gonna appreciate greatly over the next couple years and it might make sense to buy some long-term calls in those but i'm very specific about it like i don't i don't go super heavy in them because i hate the feeling of you need this stock to go to this price by this date i love the feeling of just like i can wait it out if that stock stagnates for two years who cares maybe the third year fourth year fifth year when the stock goes crazy how much do you invest uh call options a small amount like maybe five ten thousand something like that i never go big it's not like i'm gonna buy a hundred thousand dollars worth of calls tomorrow or something like that it's just it's too risky for me to do that type of move um for my risk tolerance i like taking risks but i like taking risks that i have time for it to play out and to that i mean two years is a good amount of time but still man it can get it can get scary like what happens if the whole economy dips and the whole stock market goes down a ton for a year or two we just talked about that what if the stock market goes down this year next year does it go down enough where even if that stocks if even if that company's performing great maybe they can't um get to the other side as far as the stock price goes so yeah it's it's a little it's a little tough but i i do do some options sometimes i i teach options um you know in my private group but mainly just because i like for people to understand the downside yeah i think a lot of people when when they go into any investment of especially options they're only looking at the upside and oh my gosh i can make so much money you know and it's like yeah you could also lose 100 in some of the strategies depending on which one you do so um but yeah selling puts man it's something i should be doing yeah that i think that is the uh option i guess like choice yeah that is in most alignment with your current trading strategy 100 agree yeah have you yeah so are you dabbling more and more into options now yeah well okay so i don't want to come off like i'm definitely not nowhere near like even considering myself like a total options trader like i've been trading for probably four months jack's coming out with a course soon how to trade options more money than i've made in options is the price you've probably made more money than most options traders that are selling courses out there believe me hey well i don't know about that but um yeah i've been i've been doing it for about four months now and people were saying like some guy was like oh you've made 500 or something in like three months that's abysmal return and i'm like yeah it is but also at the same point the reason why the returns were so bad is because when i was learning i think if you're learning something something and you're a total beginner and you barely even understand like the the fundamentals of it go into it with a conservative mindset don't like go all in and try to get like 30 gains or 30 losses right in the beginning yeah you know like in the beginning of my options training like yeah my returns were really bad but as of recently i'm starting to get much better and better returns like my last three or four trades my last one was like seven percent the one before that was like 20 the one before that was like 22 percent what's your best one and worst one you've had so far i have yes percentage-wise okay my worst one was probably like one percent that i gained okay and then my best one was probably about like it was mo it was one of the more recent ones it was around the 23 what was our strategy around the best one you had so there were completely different strategies um one was a short term sell put that was the bad one okay so basically if the stock goes beneath a certain strike price i'm forced to buy it and it was like one week in the future this was very like in the beginning where i was like oh i'll take 15 bucks maybe like 10 putting up 2 500. but of course it wasn't gonna hit it because i chose a really conservative strike price overall not my favorite strategy it's just not worth it for me because who knows it could plummet you know with the best uh returns they're all short strangles okay so that's just setting two brackets and if the stock price remains between these two brackets then i get premium from selling the call and i get the premium from selling the put yeah and then i just choose these brackets based off of kind of it's i said a formula but i said that also in a joking way because you never say like i have like a formula jack has a winning formula that he will teach you yeah my formula specifically yeah this i came up with it yeah 21 year old he's been training for four months hedge funds against him no it's uh i just i just basically it's uh repeat process like 45 day theta 45 days out is when i choose a strike price 16 is the delta and then that's that's basically i choose a iv a stock with iv rank over like 25 because the premiums will be higher but also i think i'm gonna try to close all of my contracts before the election because uh the when i got into the contracts it was about a month ago and i'm guessing as we get closer to the election the volatility will go up and since i since i bought a month ago it didn't really account for the volatility of the election i'm guessing so i'm gonna try to exit the positions because in selling options you when you're holding you want a low volatility but when you're when you're entering the yeah you want a high voltage yeah just a random tip for people sometimes like let's say a stock goes down a ton tomorrow and let's say you want to buy calls or something usually wait a day or two after that because the price i noticed continues to drop a day or two after even if that stock stabilizes or even if it was to go up a little i've always noticed that it actually continues to drop like what you'll have to pay the premium i don't know why it doesn't reflect right away like a stock price will uh it's just like a little tip out there i've always noticed it doesn't make anything that's interesting yeah it's really it's it's weird that you think that day it's down seven percent it's going to reflect that sometimes it actually continues the price continues to worsen quite a bit sometimes three to ten percent i found even if that stock's stable the next day really really weird but um no that that's that's intriguing like it's been working dude like i have i've got like total return like i'm not over 20 now in like a couple months i don't play direction so in fact a stagnant market is probably a good market for me like right now we have a crazy market and graham argued like oh if you just put the money in the s p 500 i could have gotten way better returns which is totally true but also the market's been rallying yeah you know and i'm not playing any sort of direction so i would like to think you know in a market where we're not going crazy all the time i would still be able to get good returns granted yes if the market's rallying the ivs will be higher thus driving up the premium same but still it doesn't the market doesn't need to be rallying for me to be using this method and of course i just want to say i'm just gathering data at this point yeah i'm not saying like i know what i'm like i'm just i'm just plugging and playing like i'm trying different strategies and what's worked so far is what's worked and i have yet to lose money i also i just want to say the put that i bought where graham says you don't uh you're not realizing the loss which is like i was saying this could be the first time i lose something because i bought a put which i've never bought an option before that was the first time i did it yeah skechers pl it was on skechers and sketches went down for one day okay and i i got fifty dollars profit oh technically that was my highest return that was like forty percent or something no it was like it was like a week still sounds insane 40 a week yeah i mean usually usually the suckers and options of the people that are buying puts and buying calls for the most part you know because 90 i believe or so expire worthless so it's also hard to play direction i think like it's it's difficult to be so you're good at it but yeah but for like a long term yeah like yeah short term doing like two weeks right exactly so i'm doing 45 days out because in the first 20 days you see a lot of time decay yeah so i'm benefiting from the time decay and then i'll just exit the contract early but i it's really difficult to play directions in the short term and a lot of people just they're the hype around options trading especially now people are buying all these options like crazy because walls you see wall street bets and the communities and you see tesla right and i think so many people are they have so much hype around tesla that it's driving up the premiums to like exorbitant prices because everyone's buying calls there's such a demand for calls on tesla that the premiums for those selling the calls are just so high and i wouldn't tell anyone to like go out and just without knowing anything just start selling calls on tesla but i told my dad because oh really he had 75 shares of tesla and i told him he should buy 25 more shares and just start selling calls and we did the math the only way he would lose money is if tesla went below 290 dollars in one month or went above 560 in one month and if and if it like doesn't hit the the call price which was 500 then also he would get um if it didn't hit that he would get like 2 300 dollars like that's like that's like rent on him yeah like a property you know what i mean i've seen i've seen another strategy employed out there this is a really risky strategy but what some people would do is like let's say they have you know ten thousand dollars they wanna play with in options they try to find the ten companies they think are going to go up the most over let's say the next two years so you're playing like you know long-term option options like two years out and what you do is you put a thousand dollars in the furthest out strike prices in all of them now this is a strategy that if none of them hit that you're going to lose all 10 000 okay but your hope is at least one of them hits sometimes your return can be over 100 astronomical like imagine if you like let's go back a year and time year and a half ago in time imagine you you saw that you did that strategy and you did it with tesla oh bank on the yeah on the highest you know the because you can you can pay such a cheap price for those so and then if it hits yeah no you you you make crazy money the cool thing about that too is you don't have to ride it out until the end if you if you hear news about a company or you lose confidence in one of those companies you can accept a loss of 30 you know 30 percent and then just write that like write it off or whatever yeah write it off but use it as a lowering your yeah i mean for that strategy i would be tempted to probably just keep it in everything until the end um that's that's because you pick out those ten stocks and you you're yeah yeah i kind of guy yeah and i would hate to like start making decisions around like because you're already taking this massive risk as it is and i would hate to make start making trading decisions around that and trying to time in and out well maybe i'll get out of this out and like if you're going to go in with that crazy of a strategy it's like just keep it until the end and hope one if not two of those stocks hit and if two of those stocks go way above that top price the the gains are going to be way way more than you put in but it's really rare you just do index and lock in what do you think your portfolio could be at right now if instead of putting that money and like investing in the actual like common share common stock whatever you call it yeah if instead of doing that you just bought out long-term call options on all of those stocks where do you think you would be ah shoot well i mean you can make an argument that a lot higher than it is now but man it's it's so it's so really theoretical yeah yeah right but like yeah i mean it would be a lot higher there's no doubt because you think about all the stocks imagine if i bought all calls and tesla all calls on facebook skyworks elf fizzy get dizzy cruisy doozy like all these stocks millions yeah like let's say the public account was only options and i bought only calls you know it depends on what strike prices you get them out and things like that and where do you where do you sell them at do you hold them till the end but yeah i mean that account instead of 860k would probably be five to ten wow so because there's just so many home run stocks in there but man you know it's always about that risk reward risk yeah huge risk you know what if the market kept down trending that account could have been a zero you know imagine if this this whole market come back we've had over the last six months imagine if it just kept going down and then imagine these options were all expiring let's say in 2021 or let's say january yeah january 2021 then we're at zero yeah so it's it's just like you heard about was who was it the softbank guy didn't he just go crazy on like buying calls or something like that that's what i knew the market talked exactly as soon as i saw saying do that i was like markets topped and then the nasdaq right after that news came out went from like twelve thousand started going down yeah like eleven thousand ten thousand he was on wall street bets for sure oh 100 he's a mod actually was he really i'm kidding it's an amazing community oh do you peruse wall street beds uh yeah for memes i try to go on at least once a week and see the news it's once a week yeah oh i'm on there every day or your times a day everyone's gonna be fresh refresh i start by noon yeah you gotta look at the attendees yeah you have trouble focusing on recording videos because you're on wall street yeah it's all the time you're like it's become a distraction now honestly to check reddit because i keep thinking there's gonna be something new on there but there's never anything new yeah i'm hoping i'm gonna be the first to find some breaking news like something revolutionary that no one else is gonna see it's gonna take you two days to get the news out anyways it's gonna kevin's gonna make six videos about it i'll make three i'm able to get some videos out there the same day oh really yeah if i come up with the concept by 7am i'm able to get it out the same day 7am wow but sometimes but sometimes it helps to beat later on to a video because i i get the full picture i get i don't just just put out the news as it comes but sometimes able to get some thought behind it is more develops yeah and you can throw more opinion behind it because you thought it through for hours now right yeah no that can make sense 100 i don't know if these cameras are going to shut off or not um dude wouldn't it be nice if they just recorded for an hour straight do you have any any strategy in the short term right now or do you never consider really the short term and you always think long term so if i asked you like your strategy when we last had you on it'd be the exact same as this time yeah i i have really no specific strategy um in the short term no it's just adding to positions i really like um and building those bigger and bigger right now i'm i'm building like four i think different positions right now in the public account that i can see as being my potential you know future facebook skyworks and teslas of that account um because i'm trying to get that next batch like tesla facebook skyworks those were kind of like the 2018 early 2019 and those are just like you know the the fruits coming to fruition or whatever you want to say and now i'm building out those next beast positions that i think are gonna thrive over the next two three four five years so did you see uh kev meet kevin posted something on his instagram where him and his wife both picked one stock it was like a year ago and they wanted to see who could have the best return in one year she picked apple and he picked tesla oh so they bolted really good though yeah they both put in like ten thousand dollars and they were just like wow like crazy yeah that was his must have went to what 70k and hers went to yeah it was a lot it was a lot 25 maybe something like that i don't know it was it was a really interesting post he's like oh yeah guys i forgot about this this is a year later oh the hsa account no that's different oh that's different that's kevin literally finds accounts with a hundred grand in the music oh he forgot about this account yeah 100 that was funny yeah let's say you have like a million dollars and you can only choose three stocks what three stocks would you pick to put those million dollars in three stocks today today oh shoot i'm probably going dropbox i'm going planet 13. oh gosh and i'm going facebook so i'm playing like if you had if you told me i got to put the money in those three stocks so i'm playing facebook because risk reward really attractive the chance i lose money almost non-exists in the next five years chance i double up my money or more very high uh dropbox is a similar situation with facebook but with more upside i feel like actually quite a bit more upside maybe a little more dangerous than a facebook but a lot more upside and then plant 13s that you know i think yeah it's all about that reward with that one so you heard it here folks we will come back to this in ten years oh and see it and see how he did that would be that would be interesting let's just do it in 10 years okay so i think you know i'm not sure if this is going to get included in the podcast but i think we got to break some some massive news here okay guys we've been beating around the bush this entire video i don't know if this is going to make it in the video okay it will graham is going to move next to me in las vegas you heard it here okay breaking and yes i bought the house next door the house that i'm building so not my current house i live in building a house graham's having a house built out there let's let's let's talk about this decision let's talk about uh what led you to this let's just let's just let's just get it out there let's talk about this a lot a lot of things but when you showed me las vegas i never thought i would be able to live there um when you showed macy and i las vegas and it was it was you showed me a part of las vegas that i've never seen before you really like that strip club that much macy and i just had the time of our lives i can't believe it the crazy horse wow it was nice there's none here [Laughter] so we we macy and i we have to go down there because that's right that's where i'm going to film my videos now exactly is there better content you could possibly film that a strip club yes so anyway so yeah so you should macy and i uh just a really beautiful part of summerlin and uh some really beautiful parts [Laughter] had a great time and that's why we have all of the uh twenties uh so anyway um no anyway yeah we went off the strip so we went to summerlin showed him summerlin and and also showed you you've seen a lot of henderson too i like henderson you gotta go off the strip essentially everybody comes to the strip they just see strip life and they're like that's las vegas and then you go to the suburbs and also and you see you know the parks and the the community and the homes and yeah and you showed us this this community up there where you're building and it was nice enough when i did the math and i realized that you know what it makes sense it makes sense to do this and uh yeah we're looking forward to it yeah that's big man that's gonna be great we're gonna where are we gonna build pools that go underground so connect the houses just swim over and hey what are you cooking over there graham it would be fun to have an underground pool though yeah the one that goes underneath the uh the wall to your place to your backyard yes you just swim under that would be fun yeah it's all night time and it's like dark out and all of a sudden i'm like swimming underwater and i just like grab your looking out to legs your pool and you just see like jeremy with some goggles in your room oh gosh hey what are you guys doing seeing what my next title is going to be so we could steal it yeah you want to go to crazy horse tonight again or not this is a joke joke so yeah vegas yeah we only got one camera we got one camera we got our last leg everyone if it cuts out we'll just finish with audio okay graham any other reasons a lot of reasons but i'll i'll discuss it on the main channel okay and once stay tuned so now you got a teaser yeah i broke the news for you guys okay yeah and let's keep it a secret on this channel for now no posting on the main channel about it no making videos keep it a secret here for now it's our little inner secret for people who made it to this point in the video and then i'll make a video in the next like few weeks that would be cool so thank you all so much for watching and listening subscribe to jeremy i appreciate it financial education thank you do you have any message to the viewers yes um invest your money focus on the long term and invest your money there you go smash the like button and smash it oh addison so with that said you guys thank you so much for watching really appreciate it all of our information is down below in the description uh smash like button also limited time this offer actually expires uh i think a few days after this is gonna post your last chance to get those two free stocks on weeble now they're both worth at minimum eight dollars they have two free stocks they did all the way up to one thousand six hundred dollars so that offer expires i think unlike the 15 to like midweek so you only have a few more days to claim the two stocks minimum eight dollars get that down below in the description thank you so much for watching and until next time gotta get the spray bottle can i use the restroom it's right by the bathroom here it's over here and then just down there can i use your restroom [Laughter] oh man that was epic i didn't even realize yeah all the way up there what the heck that's insane uh those turned off [Laughter] wow i can't get over that [Laughter] [Music] [Laughter] but yeah wall street bets is is great i absolutely love it and there's a reason why wall street bets has like one and a half million members and and theta gang has like tens of thousands you know tens of thousands data gangs the exact opposite the people that transact with wall street bets no one cares about like oh you're getting like four percent a month no one cares about that everyone wants to know about gaining like 500 percent or losing data gain takes some money from wall street's best exactly yeah the real money's in theta gang it is yeah i love dating it's boring it's like incredibly boring i don't really look at it that much yeah but theta gang that's where we need to start marketing blake those are our people all right throw in the the the thing jack they're on the iced coffee hour animation oh yeah that's smart always forget to do it yeah oh shoot which camera do i look at there's so many now you don't even need so if you're talking to anybody it's that back camera that's pointed on you that's true that's on all of us this is on you and i once we get rolling with it well for the start don't we all look at the same camera no yeah we'd all look at this one this one okay cool oh then also we need uh the intro yeah i could do the intro okay uh so uh yeah go for it yeah welcome uh i used to space coffee hour yeah nice coffee holy smokers to say no jokers and then we've made sixty two hundred dollars all right but do the holy smokers all right wow well