Andrew Stotz - 49 Incredible Life Lessons I learned in 2020 from 26 Extraordinary People

Best of 2020 Podcast Episodes Roundup“Hello, fellow risk-takers, and welcome to My Worst Investment Ever,” that’s how I start every one of the 300+ My Worst Investment Ever Podcast episodes I have recorded. Below are some of the highlights from the 170 people I interviewed in 2020.One of the things that makes the investors, businessmen and women, and experts who come on the show extraordinary is their willingness to share their worst investment with the world. Most people I ask to go on the show say, “No, thank you.”The good news for you is that you don’t have to experience their loss. Listen and absorb the lessons they teach. Whether you’re an experienced investor or just starting your investment journey, these podcasts can give you a different investment perspective and expand your knowledge.To get straight to the lessons, just click here and download my one-page cheat sheet.Ep250: Stephen Kalayjian – The Key to Success in Trading Is to Have DisciplineStephen Kalayjian is a Chief Market Strategist and co-founder of Ticker Tocker. He has decades of experience trading stocks, futures, currencies and has traded nearly 2 billion shares.Steve shared how, in his youth, he used his hard-earned money to buy 550 calls and assumed that stocks only went higher (they don’t).Key takeawaysDiscipline is the key to successIt’s better to admit you are wrong; than to lose all your moneyKnow when to continue or quit a specific investmentEp248: Karen Foo – Risk Management Is the Key to Success in ForexKaren Foo is a motivational speaker, financial trainer, and author. She has ranked #1 in a Singapore nationwide Forex trading competition. You can find her on her YouTube channel.Karen shared how she lost her savings when she invested in forex and unit trusts without guidance and research.Key takeawaysRisk management is the key to long-term successSeek out mentors who are experts in what you want to learnWrite out your investment plan before investingDo your research, ask more questions than you answerEp279: James Jani – You May Gain the Right Skills From the Wrong PathJames Jani is a YouTube Expert and Vlogger, who creates thought-provoking documentaries on YouTube about Business, Money, and Life.James shared his story of investing years of his life into acting without success, only to realize later acting wasn’t what he wanted to do for the rest of his life.Key takeawaysBe brave to follow your purpose in life, no matter what.The skills you gain from every experience combine to help you create value in the future.Ep249: Chris Mayer – Build a List of 5 Quality Companies and Enter at the Next Market FallChris Mayer is the co-founder and portfolio manager of the Woodlock House Family Capital fund. He has authored four books, including 100 Baggers: Stocks that Return 100-to-1 and How to Find Them, ranked 4.6 out of 5 on Amazon with 290 reviews. You can follow him on Twitter.Chris’s worst investment story happened when he bought cheap companies while disregarding what those businesses could offer in the long-term.Key takeawaysBuy the best companies, even if they are expensiveBuild your stock buy list and wait for significant market falls to buy themConsider the long-term returns instead of being seduced by today’s cheap stocksEp192: Sampath Mallidi – Your Startup Should Always Have Paying CustomersSampath Mallidi is the Founder and CEO of Intandemly, an account-based sales platform that helps organizations simplify their sales pipeline.Sampath shared that he and his then-boss spent all their money, shifting their company’s strategy because they anticipated funding. The money never came.Key takeawaysA deal is never done until the money is in the bankCash flow, not cash, is KingDon’t let failure get to you. Bounce back fast, and figure out how to move forward.Ep232: Ranveer Brar – Deepen Your Relationship with What You Love and Be a Good BusinessmanRanveer Brar is one of India’s top chefs, a celebrity, a Masterchef India judge, author, restaurateur, food film producer, and benefactor. He shares his passion for food on his website and his excellent YouTube channel. Follow him on Facebook, Twitter, and Instagram.Ranveer shared how he left his executive chef position in India to join a restaurant startup in the US. His big mistake was going with the flow of other people’s plans.Key takeawaysDon’t do something just because it worked for others; find what works for youBalance your passion with the need to create a profitable business modelDeal with problems head-on rather than denying and avoiding themEp235: Rand Fishkin – Don’t Be Afraid to Stand up Against the Growth-at-All-Cost Venture Capital ModelRand Fishkin is CEO &amp; co-founder of SparkToro, and author of Lost and Founder: A Painfully Honest Field Guide to the Startup World. The book has an impressive 4.7 out of 5 Amazon rating; I enjoyed how Rand personally narrated the book’s Audible format. He previously co-founded and ran the SEO optimization company, Moz.Rand’s worst investment was when he received venture capital for Moz and focused on expanding its other marketing services while stopping what was working for the company.Key takeawaysFind your niche and focus on it, do not get distractedStructure and incentives matter more than almost everything else when it comes to business successJust because investors want growth at all costs doesn’t mean it’s the right pathListen to different opinions but do what’s right for youEp255: Morgan Housel – A Successful Value Investor Focuses on Why a Stock Is Cheap<a...