I have been involved in financial planning for over 30 years. I started out as a high volume stock broker. After working with millions of dollars I decided there had to be another way for people to earn money in the market without all the risky ups and downs that leave you where you started, or worse. After reading a ton of books I came across a book on the Infinite Banking Concept and it completely changed my life and the way I view investments. Now I focus on building wealth in safe and predictable ways, like Infinite Banking, Cash Value Life Insurance, and Indexed Annuities to name a few.
Stock And Value Investing Like Warren Buffett - Investment Strategies
Hi everyone. Welcome to another wealthy wise Wednesday. Hope you're doing great. Today's video SLAs podcast.
I wanted to talk to you about this real difference between great investors and traditional financial planning. You know it's really interesting. I've been doing this now since 1986. What is that we're pushing 32 gone on to 33 years. And in all those years I've gone through one of what you would call training sessions classes whatever you want to call them. Oftentimes they're called due diligence meetings in the in the stock brokerage world. What that really means is that every once in a while and especially in the beginning of your career you sit down in these classes and you're taught what I thought were going to be investment principles most training that happens inside of a financial planning firm or an investment firm has to do with selling. I'll bet it's a 99 percent to 1 percent where everything talked about is how to talk to a prospect how to turn them into a client sales tactics. Sandler skills training. All the different things that just. Make me crazy. Very very little is talked about investments the investment philosophy how clients can actually make money how they can invest. Well. However once you get financial planning conversation going or training going where they talk about allocation and the different things like that. But here is what was perplexing to me and you know I realize this many many years ago but it didn't dawn on me and it didn't have quite the impact that it does. Even today when I think about it and that is this ok I've been trained as a financial adviser I'm being trained to teach or to show or to help my clients invest in the best way they possibly can to build enough wealth that they can enjoy their life. Most people are building toward retirement and having plenty of money to live the rest of your life right. So that's what we're being taught. That's what we're kind of the overall plan of a financial adviser is to do those things. OK. Now if I were to ask you this question you may not know it offhand but it's it's going to dawn on you here pretty quick. If I were to ask you Who do you think is some of the best investors in the world and maybe your neighbor maybe you know somebody who's just done really well with their money and that's that's great. But if you were to think about more of a icon or a celebrity if you will. What name comes to mind. Well the name that comes to mind for me are guys like Warren Buffett probably top of the list. His partner Charlie Munger and then the list goes down from there. Here's what's interesting though if you look at that list some of the greatest investors that have ever lived they all have very very similar philosophies. It may deter one or two things here and there but for the most part they're very very similar philosophies. Some traditional finance advisors might call that value investing and although it's kind of that Buffett.