Ever wonder how people lose money in the stock market? It might be easier than you think! In today’s episode, Joe, OG, Paula, and special guest Jesse Cramer from The Best Interest podcast break down Ben Carlson’s blog post “15 Ways to Lose Money in the Market” and share their own insights on how to avoid making these common financial missteps.
In the second half of the show, brought to you by DepositAccounts.com, our roundtable members reveal their choice for the worst money move to make in the financial markets.
Plus, stick around for a fun (and competitive) round of trivia, as the gang tries to guess how many people died on screen in Game of Thrones—it’s a number bigger than you think!
Deeper dives with curated links, topics, and discussions are in our newsletter, The 201, available at https://www.StackingBenjamins.com/201
Enjoy!
Watch On Our YouTube Channel:
Our Topic:
15 Ways to Lose Money in the Markets (A Wealth of Common Sense)
During our conversation, you’ll hear us mention:
- Impulsive investment decisions based on talk around the water cooler.
- Single stock overconcentration.
- Speculation.
- Using margin to invest.
- Money is fungible.
- Panic selling.
- Annual rebalancing.
- NFTs.
- Meme stocks.
- High fees and commissions.
- Buy last year’s winners.
- Think you’re smarter than the market.
- Chase performance.
- Market timing.
- Taking investment advice from billionaires.
- Worry more about being right than making money.
- Benchmark portfolio to the best-performing asset class.
- Blame the Fed when you underperform.
- Live and die by the short run.
- Assume you’re the next Waren Buffett.
- Overreact to market volatility.
- Be pessimistic about everything.
- Try to become rich overnight.
Our Contributors
A big thanks to our contributors! You can check out more links for our guests below.
Jesse Cramer
Another thanks to Jesse Cramer for joining our contributors this week! Hear more from Jesse on HER/HIS show, The Best Interest Podcast at The Best Interest – Complex Personal Finance Made Easy Podcast Series – Apple Podcasts.
Learn how you can work with Jesse by visiting The Best Interest – Invest in Knowledge.
Paula Pant
Check Out Paula’s site and amazing podcast: AffordAnything.com
Follow Paula on Twitter: @AffordAnything
OG
For more on OG and his firm’s page, click here.
Doug’s Game Show Trivia
- While four heroes die in the red wedding, according to some serious researchers at the Washington Post, how many people die, in all, in the HBO version of Game of Thrones?
DepositAccounts
Thanks to DepositAccounts.com for sponsoring Stacking Benjamins. DepositsAccounts.com is the #1 place to go when you’re looking to see if your rate is the BEST rate on savings, CDs, money markets, and even checking accounts! Check out ALL of the rates ranked from best to worst (and see the national averages) at DepositAccounts.com.
Mentioned in today’s show
- An illustrated guide to all 6,887 deaths in ‘Game of Thrones’ – Washington Post
- The Tycoon Warren Buffett 1/6 Action Figure From MCC Toys New – Etsy Mexico
Join Us on Monday!
Tune in on Monday when we’re headed back into the history books with a woman who’s studied how our presidents made investments and managed their finances, Megan Gorman.
Miss our last show? Check it out here: Pension Perils: Lessons from the Dallas Fund Fiasco (SB1576)
Written by: Kevin Bailey
Episode transcript
[00:00:00] bit: Where’s the kaboom? There was supposed to be an earth shattering, Kaboom. [00:00:09] Doug: Live from the basement of the YouTube headquarters, gets the Stacking Benjamin Show. [00:00:25] I’m Joe’s mom’s neighbor, Doug, and it’s that time. We’re running a year long competition between our frequent contributors, and today we are playing for not one but two points by presenting one of our famous game shows. What are the best ways you can lose money in the financial markets? We’ll quiz our contributors who include a guy who’s the voice of the show. [00:00:48] We lovingly and incorrectly call the better interest. Podcast, Jesse Kramer and the woman who we correctly say is the host of the Afford Anything Show, Paula Pant and the guy who’s the diva rocking the microphone in Mom’s basement here in DXK. It’s og, and now a guy who could pass for Wink Martindale. [00:01:15] It’s Joe Saw [00:01:20] Doug, how [00:01:20] Joe: old you gotta be. To know Wing Martin [00:01:23] Doug: Dale is, yeah, I don’t That dude’s legendary. I mean, he is on the Mount Rushmore of Game show host. I think people know him, him and Chuck Wry. This is a quiz question. This is how you [00:01:33] Joe: know Paul Lap Pant. Do you know who Wink Martin Dale is? I have no [00:01:35] Paula: idea. Ab, [00:01:37] Joe: there it is right there. [00:01:40] We just figured out that that’s, uh, too old. Hey everybody, welcome to eighties Game show host references for the WIN podcast. I’m Joe Saul-Sehy, and it is game show day, which means sit back and relax. We’re gonna have some fun. What I love about our game shows is that we take a piece that, uh, we found in the popular press that is a list, and sometimes they’re lists that are just absolute garbage. [00:02:04] Sometimes they’re fun. But what is always fun is that the things that our contributors come up with about the list, I think it’s often way better. Then what’s on the list in the first place? So the bar’s a little high, guys, but uh, before we get started, let’s meet the team, the guy across the cart table from me. [00:02:21] Let’s start there. Mr. OG is here. How are you, man? [00:02:24] OG: Good. Uh, way So more, more, more best sober or than, uh, than most Fridays because it’s, uh. Like four in the morning or whatever time we’re doing this. Yes, [00:02:35] Joe: we’d like [00:02:35] OG: to rec live these, live on YouTube [00:02:36] Joe: at 4:00 [00:02:37] OG: AM Wake me from my slumber. Yeah, [00:02:40] Joe: it is good. You don’t have a beverage in front of you, a foamy beverage or a uh, a [00:02:44] OG: coffee? [00:02:45] Joe: Coffee, yes. Just, just coffee. And the woman who, uh, uh, what do you drink in peop pants? [00:02:50] Paula: Oh, I, so technically it is a foamy beverage and also coffee because it’s a nitro cold brew. So it’s, oh my goodness. It’s the foam on top. So it’s a foamy beverage coffee with some rum in it. No, no. I was gonna say with some half and half. [00:03:06] Doug: Oh, okay. The nitro part of that I hoped was booze. [00:03:10] Paula: Yeah. Yeah. Half rum, half vodka. [00:03:13] Joe: Right. And the guy who’s the rum and the vodka. This podcast, huh? How about that? Jesse Kramer’s here with us. How are you, man? [00:03:20] Jesse: This is the first time I’ve been accused of being a party drink in my life. But I’ll take it, I’ll take it. [00:03:25] Joe: You, you are a party drink. You ready for the weekend? You ready for this, uh, big weekend? I don’t, it’s not really a big weekend. [00:03:32] Jesse: I’m super excited for this coming weekend. It’s gonna be great. [00:03:36] Joe: It is so wild. Just to peek behind the curtain, we record this on a day that’s not close to the weekend, and we just came off a weekend and it’s, it’s great to pretend, Jesse, like we’re going into the weekend. [00:03:47] Jesse: Totally. My favorite part of weekends is time away from work, and this weekend is gonna bring that in spades. I’m so excited. [00:03:54] Joe: Well, you’ve got an hour now of time away from work. We’re gonna have some fun. You know what is super fun, Jesse, you know what the most fun thing on this podcast is? [00:04:03] Jesse: Commercials. [00:04:04] Joe: Well, one one specifically, and it’s that this episode’s brought to you by State Farm. I get a little tear in my eye because the market for small business insurance is one that you need to pay attention to if you’re in the market for a business. Insurance State Farm knows your business is your life. [00:04:22] State Farm agents are small business owners too, so they know what it takes. They can help you create a personalized insurance plan, Jesse, that fits your small business needs and your budget. Small business insurance from State Farm. Everybody’s saying like a good neighbor State Farm is there. Okay. Uh, Joe Singh, talk to your local agent today. [00:04:43] We got a great show. We’ve got Paula here. We got Jesse here, we got OG here. We have a few more sponsors that make this possible so that you don’t have to pay for it. Let’s hear from a couple right now and we’re gonna get our game show rolling. All right, let’s get this thing moving. [00:05:00] OG: What’s the topic, by the way? [00:05:01] Usually we get a little headstart so we can, uh, start thinking. [00:05:05] Joe: It’s, that shows Doug how much he pays attention to your open, the, the whole time. Nice job. Oog. The topic today is 15 ways, 15 ways on this list. To lose money in the markets, 15 ways to lose money in the markets. The uh, creator of this list says there’s plenty of investment advice out there based on what one must do to be successful. [00:05:35] You don’t see many people take the opposite approach and talk to you about what you shouldn’t do. There are many ways to succeed, but only a few avenues to fail. There are some sure fire ways to make poor investment decisions Today we’re gonna help our stackers make some absolutely rotten investment decisions. [00:05:53] og [00:05:54] OG: Uh, I have a question. Are, is this like a bunch of don’ts? [00:05:59] Joe: No, this is a bunch of, if you wanna make horrible decisions, do this. So just get rid of the word, don’t and do it. And you’ve just made a rotten decision. There’s 15 ways, but, [00:06:10] Doug: but your answers should be in the negative. [00:06:13] Joe: Oh my [00:06:13] Doug: gosh. [00:06:14] Joe: Like, right. I don’t [00:06:14] write [00:06:15] Doug: anything down. [00:06:15] Paul [00:06:15] OG: is confused too. I have to be phrased in the form of a question, [00:06:18] Joe: have to be phrased in the form of a thing you shouldn’t do. Got it. So shouldn’t [00:06:23] OG: I shouldn’t. Insert thing here. [00:06:27] Joe: OG has 12 points. Nobody knows. Okay, mom, uh, has 10. Jesse, you’re gonna play up behalf of mom this week. ’cause she doesn’t really care about doing trivia. [00:06:35] And, uh, she also doesn’t wanna come down the stairs. And Paula has eight. Paula, it’s a two point day because we’re gonna stop halfway through this. For another game. Another game. We’re gonna do our usual trivia at the halfway point, so you could be tied with Mom slash Jesse at the end. I say that with hope and uh, we all know there’s probably zero chance that’s happening, but who knows? [00:06:59] Who knows? Dang shots fired. Paula gets to go first. I’ve been hoping for a long time. Paula, you get to go first. What’s one great way to make sure that uh, you make a poor investment decision [00:07:11] Paula: to make a poor investment decision? Make an. Impulsive decision based on a water cooler tip, an impulsive [00:07:19] Joe: decision based on a water cooler tip. [00:07:26] bit: Yeah. [00:07:30] Joe: Wow. Paula, Paula out of the gate. [00:07:33] Paula: Well, you know, at least I’m on brand. [00:07:35] Joe: It is true. That’s a great way to lose money. I’ve, I’ve talked a lot lately about me just, uh, jumping on. Uh, Yahoo Finance seeing something about a stock and putting some money in it. And then Paula, I told you about it and you put some money in it too. [00:07:50] Exactly it. And it is the dumbest thing we both know better. And it was water cooler talk. And actually we have made money on it though. [00:07:57] Paula: Choices should be judged based on the process and not based on the outcome. That’s exactly right. And our [00:08:02] Joe: process was damn poor to buy that stock. But Jesse, have you ever bought something because of, uh, talk around the water cooler? [00:08:09] Like, Hey, everybody else is buying it. Let’s just buy some. [00:08:12] Jesse: When it comes to investing, I think the one that, the one that comes to mind, I mean, I, I bought Berkshire Hathaway just ’cause I liked Warren Buffet. I didn’t actually look at the business fundamentals. I just thought, I was like, you know, I. It’s like buying an action figure or a baseball hat. [00:08:23] I own Berkshire Hathaway. Same thing. [00:08:26] Doug: I can’t, I can’t picture Warren Buffet in a baseball hat or as an action figure. Would the Warren Buffet action figure be cool? That [00:08:34] Joe: would be great. Investors of the century, Warren Buffet. But it is funny because, I mean, with that one, you look at the fundamentals of that company, boy, they’re horrible. [00:08:44] No, I’m kidding. They’re, they’re absolutely fantastic. Like, Jesse, if you’re gonna just take a flyer, that ended up being a pretty damn good one. It worked out. Yeah, it worked out. Nice. Way to go. Oh gee. I’m sure you’ve never done this, just that on a stock. [00:08:57] OG: Yeah, never. Of course not. Uh, who, who does something so foolish as that? [00:09:03] That would be ridiculous. I’m thinking about in the grand context of losing money, not just market, losing money. There’s a, a purchasing decision. I’m. Strongly considering, which is terrible. So, so I’m like, I’m thinking about this from the, this is a purchase, this, and the people I’m bouncing the idea off of aren’t helping. [00:09:20] ’cause they’re like, you would never do that. You’re such a, you know, a baby, you would never be able to pull the trigger on something that expensive. I go, yeah, oh yeah, watch me. I bet I can. Oh boy, you know, [00:09:30] Paula: is it an airplane? [00:09:31] OG: No. No. Oh, it’s not an airplane. [00:09:33] Joe: You’re not gonna updr worse. [00:09:34] Paula: It’s worse. [00:09:36] OG: It’s worse. [00:09:37] It’s worse. He’s gonna buy the whole [00:09:38] Joe: airport this time, Paula. [00:09:39] OG: Yeah. Yeah. It’s the runway of the airplane. [00:09:44] Joe: No good news, Mrs. og. We own Hartsfield. [00:09:48] OG: That would actually be probably pretty profitable. All things considered. [00:09:51] Joe: Jesse, you are up next 15 ways to lose money in the markets. What do you think’s on this list? [00:09:58] Jesse: I’m gonna say that you should not, uh, over concentrate into a single stock. [00:10:09] Joe: Again, another good one. Doug, the one that’s not on the list. Yeah. No diversification. Jesse is either gonna be, the good news is you’re either gonna make a lot of money or you’re gonna lose a lot of money. [00:10:20] Jesse: Yeah. The odds are against you. Uh, the odds are against you. I mean, I thought Paula had a good answer. [00:10:24] I thought she had a good process behind her answer. I thought I had a good process behind, uh, my answer and yeah, so far I’m just questioning the validity of this article. But no, don’t worry, I’m still optimistic. [00:10:35] Paula: I’m so curious as to [00:10:36] Joe: what’s. On the article, welcome to Stacky Benjamin’s, uh, show where you question the validity of what we’re even, what we’re even doing. [00:10:46] Doug: All the listeners are like, welcome to the party. That’s right. Where have you been, Jesse? We’ve been, we’ve been questioning the validity of this show for a long time. [00:10:54] Joe: All right. Uh, og uh, here in the first round of three, you can take a 1 0 0 lead. One of 15 ways. I did like, [00:11:02] OG: I did like under diversification. [00:11:03] I’m glad that he picked that so I can cross it off my list. I’m just gonna go. Something. I mean like Wall Street Betsy’s Day, trading options. [00:11:14] Joe: It’s on the list. The, uh, number 14 on this list, investing is boring. Just speculate. Trade zero day options, gamble. Shoot the moon. The markets are rigged. Anyway, why even try, just go ahead and speculate. [00:11:32] OG takes the early lead in round one. It’s not good news, Paula, not good news. We gotta get ’em in round two. Here’s the good news, Jesse, and we didn’t explain this at the start of today. Uh, round two is worth two points. Unless OG gets one right, then his is only worth one. No, I’m kidding. It’s all worth two, two points for, for round two and then three, three points for the third round guest. [00:11:56] So here’s the deal. Contestants, you can either save your best one for last, but somebody else might get to it first, or you can make sure that you get the, the points, but two points for this round and we go in reverse order. Oh gee, you get to go again. [00:12:12] OG: O [00:12:12] Doug: It’s like a snake draft for fantasy [00:12:14] OG: football. I know. [00:12:17] Alright, so option trading is out. Speculation. It seems really broad based. I mean, by saying spec speculation, you assume that there’d be one there for under diversification too. I would’ve thought so too. That’s a little silly and there is not. All right. Um, all right. Um, again, just a, just a tactical thing. [00:12:38] It probably falls into the same category, but, uh, I’m gonna say margin, using margin to invest, [00:12:43] Joe: using margin to invest. Is that on the list? [00:12:55] And Doug. I told our contestants beforehand, I’m like, you guys are gonna get all these, [00:12:58] OG: this is super easy. This is an amazingly great list. Wow. A one for four. But yeah, it’s great. This has [00:13:05] Joe: been a great tryout for the show. Yeah. The, the number of times, oh gee. I remember back in, uh, 2002 and 2007 people in my office because they had a margin call and they had to sell positions like margin will kick your butt and down market really quick. [00:13:21] It [00:13:21] OG: works really great when it works and it works really badly in a hurry. When it doesn’t, you’re basically saying, I wanna borrow money to invest in the market, which if you think, oh, well long term the stock market goes up and I can borrow it at a cheap rate, wouldn’t that be great? You’re right. That works 70% of the time. [00:13:39] It works all the time, and then you other 30%, it gets ugly in a hurry because at the end of the day, the brokerage company that’s lending you the money is not gonna let themselves go in the red. So if they get to a point where they feel like you are too close, and in fact there’s rules around this with the SEC and with the brokerage companies around how much money you have to maintain in your account. [00:14:03] But if it goes down to a certain number, they’re out, they’ll, they’ll get out to make their loan paid off, even if that means zeroing you out along the way. So even though mathematically you go, well this should work over time, if it, you know, I just have to ride out the waves and you know, I’m borrowing money at five and investing it at 10. [00:14:21] That sounds great. It’s true. Except for when the market does go down, you know, you went down 20 instead of 10 ’cause you had twice the money, right? Or 30 instead of 15. So it’s very aggressive. It doesn’t mean it can’t work. There are some use cases for it for sure. But you gotta know what you’re getting yourself into. [00:14:38] Paul or Jesse, you guys ever use margin? [00:14:40] Paula: No. No, never. But you know what’s funny? You never hear about people using margin to buy V-T-S-A-X. Right? True. Like it seems as though anytime you hear about someone using margin, they’re using it to buy individual stock positions. Right? And like penny stocks. Yeah, exactly. [00:14:58] Or even if they’re buying blue chip companies, there’s still that additional concentration of risk there. So. I’ve, I’ve heard far too many cautionary tales around people losing their shirts as a result of investing on margin that I’ve stayed away from it. [00:15:14] Joe: When it comes to margin, I think to myself, would I rather use margin to buy a stock or would I use an option? [00:15:20] I. To go into the stock. I think of the two, I’d probably use an option to buy instead. So if it goes south and I’m only out the option price, I don’t know. What do you guys think? [00:15:29] OG: Well, I mean, if you’ve got a position that you wanna buy, you can certainly sell a put against it and see apple’s at a hundred. [00:15:36] And you say, if it got to 90, I would totally buy it. Right? Like that’s a, you know, if the volatility pushes it down a little bit, that’s a good entry point. You can sell an option contract to. To make that happen automatically. The risk that you run by not buying it is it goes from a hundred to one 10 to one 20 to one 30, and you’re constantly trailing going, oh, if it just goes down a little bit, I’ll get in. [00:15:58] Meanwhile, you missed out on it going from a hundred to one 30. Good point. But you picked up a little bit of income hoping it went back down to 90, if that makes sense. So there’s always a risk on both sides. Yeah. Paula, [00:16:09] Paula: I mean, what I would do, I, and this is what I would say to any homeowner, is if you want to buy stocks. [00:16:16] Fundamentally, the cheapest loan that you’re ever gonna get is the mortgage on your home. So by virtue of not prepaying your mortgage, by virtue of making just the minimum payment on your mortgage, or by virtue of taking out a home equity loan or a home equity line of credit, I mean, that would be a, and I’m not, to be very clear, I am not advising the people do that, not advocating it. [00:16:35] I was about to say hay [00:16:36] Joe: stackers. These are all, we’re just comparing bad ideas. [00:16:39] Paula: Yeah, yeah, yeah. I am not. Not, not advocating that anybody borrow money against their home in order to buy stocks, but conceptually, why would that be worse than margin? [00:16:51] Doug: I love that she said, I’m not, not advocating. [00:16:56] OG: Like, wait a minute, Paula, what you’re talking about there is a really interesting point because like, you know, if you, you aggressively pay down your house and then say, well, I’ll just use margin to buy my stock portfolio instead, it’s like, well, why wouldn’t you? [00:17:07] Have gone slower and invested along the way, or if you’re okay with doing margin, why wouldn’t you just charge it on your Amex? Like just right, do a cash advance. It’s all the same thing. I use the same analogy for real estate versus stock market investing. It works really well because of the leverage factor, right? [00:17:22] You put 20% down, somebody else paying the mortgage, yada, yada, yada. That’s why it looks so good on paper when you, when you math it out and I go, well, yeah, stock market investing looks really great too. If you put 20% down and buy. A hundred percent worth of stock. Yeah. If it goes up, it looks really awesome. [00:17:38] Right. That’s a really great return and there’s places all over the world that will lend you four to one on your money. But why don’t we do that? Because it’s pretty aggressive. [00:17:47] Paula: Exactly. [00:17:48] OG: It’s really aggressive. Like somebody buying a house with 3% down, it’s doable, but there’s a lot of risk with that. [00:17:55] Especially if you’re buying it as an investment. Right? Yeah. Probably barely breaking even cashflow wise. [00:17:59] Paula: Yeah, exactly. That’s why I’m such an advocate for calculating cap rate, because it just, it filters all of the financing out of the equation. And you can just look at the asset itself minus any financing. [00:18:08] OG: Take out all the emotion out of it. [00:18:10] Joe: Let’s see how much emotion, uh, Jesse’s gonna have in his second pick, Jesse, so he can have some sweet emotion. You can take the lead here, man. [00:18:18] Jesse: Well, actually, I, I do have an emotional answer. Uh, just listening to Paula and and OG talk right there, though, I think a takeaway like money is fungible. [00:18:25] I think this is, that, that’s a little, this level up that not everybody has when they enter into the personal finance world. That’s a big level up in your own personal finances is that realization that money is fungible and, you know, whether you’re, anyway, just that, that’s a big takeaway for me, but, okay. [00:18:39] Second answer. Uh, how to lose money in the markets. I would say that a good way to lose money in the market is panic selling. [00:18:48] Joe: Is panic selling on the list Sell all specifically, Jesse, on this piece, it says, sell all your stocks in a bear market, which I would categorize a hundred percent as panic selling. [00:19:02] Uh, the author of this piece says, bear markets are far too painful to sit through after stocks nose dive. Sell your stocks and wait for the coast to clear. How hard can it be to pick bottoms? Oh, gee, how many times? Have we had headlines over the years where some, some expert, even in some cases, advisors jump outta the market at the bottom in a panic. [00:19:25] OG: Well, I mean this, this happens to every investor at some point in time in their life, even if they have the most ardent upbringing and strong stomach. You know, you just kind of go, well. Maybe this one’s a little different. It takes a couple of bats. I think, before you recognize that the market is gonna have good periods of time and not so good periods of time. [00:19:44] And it’s just so interesting to me to look back at history and see where all of the wealthy people make all of their money. You know, when did Rockefeller make all this money? When did the Vanderbilt make their money? Like these big giant families. It’s like, well, they made it during times when the economy wasn’t very strong. [00:20:02] Now some people may look at that and go, yeah, those pss who took advantage of, you know, whatever. It’s like, I think Rockefeller was the one that like borrowed a whole bunch of money on margin to buy stocks during the Great Depression. I think, you know, it’s like. Swung at the pitch, and you know, here’s what’s good luck, right? [00:20:20] When it comes to individual investing, I think you have to recognize that, you know, it’s just yesterday’s price. It might be last month’s price or five months ago price, but at some point in time you were like, this is a good price to get in. And right before the market went down, you thought, this is a really great price for me to get in again. [00:20:37] And now it’s back down to yesterday’s price or five years ago price. And you’re freaked out about it. It’s like, what a great opportunity. To literally go, holy crap, I missed it the first time. Now I get to like, really? Now I get to invest. It’s so hard to see that opportunity though. It’s so hard. Wow. It’s impossible in real time. [00:20:52] It’s very easy in hindsight. Yeah. You know, we talked on the show about a, a, a team of advisors. I knew during Covid that literally on March 22nd market was down 11% that day. Sold their entire client portfolio to cash, $600 million of client assets. By the end of the day, they were to cash the next day. [00:21:10] The next day the stock market was up 10%. So if you assume that their portfolio was maybe 60% stock and 40% fixed income, their clients lost out on $36 million of return. And worse, they took all of the minus 33 that happened up till March 23rd during Covid. Right. So the economy was tanking and you know, the market was tanking and that was the bottom. [00:21:35] It’s like somebody selling on in March of 2009. So. The best thing to do is just look at your stuff every one once a year and just rebalance and let it go. It’s one thing for you to do it. It’s another thing that you’re pro, [00:21:48] Joe: you know, you’re pro whose job it is to make sure that, well, trust me, I’m [00:21:51] OG: gonna say air quotes on this. [00:21:52] Joe: Uh oh yeah. [00:21:52] OG: With this group of [00:21:53] Joe: folks, their job is to make sure you don’t panic and you’re pro panics. Hey. [00:21:56] OG: They’re like, we’ll do it for you. So [00:21:59] Joe: I don’t want you to panic, so I’m gonna jump off the building. Yeah. [00:22:02] Paula: All right, Paula. All right. Well, Jesse actually took mine. I was going to say panic sell. But I also, I do have two other answers in my brain. [00:22:11] I have a question for you, Joe. Are we doing a me and then me again? Are we like reversing? It’s just gonna be [00:22:15] Joe: you again in the third round. [00:22:17] Paula: Okay. So the less likely of the two answers in my head is the one that I should start with [00:22:23] Joe: smart. That’s right, because you get three points in the next round. [00:22:26] Paula: Okay. [00:22:26] Well, Jesse stole my answer, which was Panic Excel. He also said a word that sparked an idea for a new answer. He said the word fungible. So. Don’t buy non fungible tokens or NFTs. [00:22:41] OG: So we’re supposed to buy ’em. So wait a minute. Yes. [00:22:44] Paula: So wait a way. The best way to lose money is to buy NFTs. The best way to lose money is to buy NFTs. [00:22:48] Correct. A [00:22:49] Joe: great way to lose money is to buy NFTs. Is that here? [00:22:57] It is not. And yet Paula, that has proven, yeah, I mean, look it up. While that got right, I’m thinking of two very specific people who talked about, I’m learning a lot about this. I know it’s great. And these long, long, long social media posts like talking about why this is gonna be the next amazing thing. [00:23:16] And maybe that was the Yeah, the beginning of the end. ’cause it started going down then. [00:23:20] Paula: Well, to be fair, I do think that the underlying, the concept and the underlying technology is quite valuable. I mean, a, a non fungible token is a record of ownership that is digitized and preserved and cannot be messed with. [00:23:35] And I, I do think that record keeping methodology is quite outdated. New digital innovation in record keeping methodology. Has its place. It’s fabulous. But I think specifically people buying NFTs around a monkey because they were speculating that that others would pay more for it in the future. It got a little Dutch tuy. [00:23:56] Got a little frothy, got a little bubbly. I [00:23:58] Joe: think the word BB word little is misplaced there. [00:24:00] Paula: It got varied. Yeah. It got [00:24:03] Joe: very Dutch tuy. Eight bit crappy art that only appears on your computer and I’m paying hundreds of thousands of dollars for it is ridiculous. [00:24:10] Paula: But I do think that NFT Technology and Digital Token record keeping is something to invest in. [00:24:19] Absolutely. It’s here to stay. [00:24:20] Joe: Well, we’ve got quite a run going. Jesse’s got two points. OGs got one. Paula saved the best for last, and we go to three points next round, but in the middle of each Friday show we pause for a second and whenever we do a, we do a game show. It’s funny. Let’s pause this game for another game. [00:24:39] So we have our trivia question, which is part of this two point day. Somebody’s gonna get a point for winning the game show. Somebody’s gonna get a point for Doug’s trivia question, man. Do we got a good one today? Because it’s a very special birthday today. Doug, what do we got is today’s trivia question. [00:25:01] Doug: Hey there, stackers. I’m Joe’s mom’s neighbor. Duggan today is author George RR Martin’s birthday. You don’t know who that is. He is the guy responsible for Game of Thrones because he writes so slowly and still hasn’t finished the series. Seriously, it’s been years. George, get off your butt when he sold the rights to television. [00:25:24] They worked much faster than Martin, and consequently we ended up with that horrible ending that HBO decided to create. But he’s also the author responsible for implementing something all writers say is a great idea. Killing your darlings. Seriously. So many people die during this series that you don’t know who to cheer for. [00:25:47] It’s immensely popular though, so I’m thinking maybe. We kill off OG at the end of this episode. I mean, ratings are gonna go through the roof, right? Right. Uh, well, well just think about it while we dive into today’s trivia in Game of Thrones. Martin’s most famous wait minute. Hold on, hold on. Was it, hold on a second. [00:26:06] Doug [00:26:07] Joe: was og just like, uh, please, please God. Yeah, take me now. I saw him nodding his head. I think [00:26:13] Doug: Don’t threaten me with a [00:26:14] OG: good time. [00:26:19] Doug: All right, let’s dive back in. In Game of Thrones, Martin’s most famous death scene is probably the red wedding. It’s called red because so many people get the ax, including four main characters, which leads us back to og. Let’s make that spoiler alert today’s question. While four heroes die in the red wedding, according to some serious researchers at the Washington Post, how many people die in all in the HBO version of Game of Thrones? [00:26:50] I’ll be back right after I go get some carpet cleaner. OG spilled some red wine, and it’s really grossing me out. Now that I’m thinking about today’s trivia question. [00:26:59] Joe: You know, it’d be so fun if, uh, Jesse Kramer gets this one on the dot. This, oh, he’s gone. Or if he misses, he’s getting the ax, or if he misses it Doug by one. [00:27:08] If he miss Yeah. Yeah. He’s gonna try to make it look good. Like, ooh, game of Thrones. It’s, it’s so funny, I never dug, you didn’t get into the series? No. I watched a couple episodes at the beginning and I said I can’t do this again. Because when I got to the red wedding in the book, I literally, Cheryl and I are reading in bed and I literally take my book. [00:27:31] I swore and I threw it across the room. I was so mad when the red wedding happened. I literally hit the wall with a book and show goes, what the hell’s going on? I’m like, I can’t believe it just happened. Like all my favorite characters murdered in one scene. It was, oh, so I. Devastating. Paula, did you do Game of Thrones at all? [00:27:50] Paula: I’m obsessed with Game of Thrones. Wow. AB obsessed. Wow. All of the time and energy that everyone else spends watching a wide variety of shows rather than go wide. I go deep. I funneled all of that into an obsessed, like just an obsession with Game of Thrones. House of the Dragon. [00:28:08] Doug: Well, [00:28:08] Joe: there’s a lot of blood, so you could [00:28:10] Doug: go deep there. [00:28:10] And just like me with Below Deck Mediterranean. Oh yeah, [00:28:14] Joe: exactly. This is a one, one. It’s the same. It’s the same. Alright, og uh, the series Game of Thrones, how many deaths and all happened on the HBO series? [00:28:26] OG: Just a clarifying question. I understand that there’s, um, some spinoffs. Is this including spinoffs or is this the No, this is just the original primary series. [00:28:33] The primary series, yeah. Okay. So I have absolutely no clue. So I’m just gonna kind of back into it. I think there were. Five seasons, maybe seven. Paul’s like, I know, I know there are probably 10 or 12 episodes a season, so maybe there’s between 60 and 80 episodes. This is onscreen people we know that have died. [00:28:58] This isn’t like in the book, and this is like, this is, we counted up all the dead bodies. Yeah. [00:29:02] Joe: Researchers at the Washington Post watched the show cutting, [00:29:06] OG: cutting edge research. Yes. [00:29:07] Joe: And saw this person died. Well, they saved the research for the important stuff, you know like Sure, sure, sure. How many people died? [00:29:13] Can you imagine like the intern getting that job? I want you to watch the entire series and tell me how many people died. I’m getting paid for this. [00:29:19] OG: Yeah. Alright, so let’s say maybe there’s probably 80 episodes, maybe a hundred in a five or seven series or season series. Uh, you said four people died in that episode? [00:29:30] Well, four main characters died. Uh oh, [00:29:32] bit: okay. [00:29:32] OG: We’re not just talking [00:29:33] Joe: main characters. [00:29:34] OG: We’re talking everybody you, you’re talking in, there’s probably battle scenes. There’s battle scenes, there’s probably. Attack the clones. There’s Darth Vader, there’s all those people that show up. What the hell is he talking about? [00:29:44] Doug? Is he [00:29:45] Doug: delirious? There was, there was the Omaha Beach invasion scene. [00:29:51] OG: I know. A hundred times a hundred. Uh, I don’t know. I’m gonna say that it was, um, uh, it’s a big number. So we’ll say a hundred people died. A hundred episodes. That’s 10,000. So I am gonna say. 10,000 people died. [00:30:07] Joe: 10,000 people died. [00:30:10] Jesse, uh, you looked this up while he was going, I’m sure. So did you know if he’s too high or too low? [00:30:16] Jesse: Way too low. I don’t think I’m as familiar with the, the series as Paula, but I do think I’ve watched every episode and so I don’t think I’m spoiling anything for Paula here that my mind originally went to. [00:30:27] One of the latter two seasons with the, is it wildfire? [00:30:31] bit: Mm-Hmm. There’s the wildfire [00:30:32] Jesse: explosion. Yeah. At King’s Landing and like half the city blows up or something, and I’m like, well, there’s probably like 50,000 people dying right there. As long as the research has counted that as like, well, a sh ton of people just died right there. [00:30:44] They [00:30:44] Joe: had to die on screen. You had to see them die on screen. I will tell you that. [00:30:49] Jesse: Okay. So that kind of changes. Boy, that changes the math a little bit. In that case, I’m gonna say 3000. [00:31:00] Joe: Paula, there’s no reason for you to go, ’cause Jesse got it right on the barrel. I’m joking luckily. But, uh, Paula, you’ve got a big field goal there. [00:31:11] 10,000 from og, 3000 from Jesse. What do you think, [00:31:16] Paula: man? Okay. This is total number of people who died on screen, which, oh, it’s a hard one because there’s so many battle scenes, right? And so the question is, in a given battle, when you’re watching armies go at it, how do you count? Number of, yeah, it pause. [00:31:42] You’re [00:31:42] Joe: watching Rob or John Snow and there’s people getting killed in the background by somebody else, [00:31:46] Paula: right? [00:31:47] Doug: This doesn’t include creatures, right? Like those weird creatures. They have fighting walkers. [00:31:52] OG: This is just people [00:31:53] Paula: do white walkers qualify as people science [00:31:54] OG: fiction in it. It’s, this isn’t a historical, there were people at one point. [00:31:58] What about wars? Not at all. I’m confused. [00:32:03] Doug: Man, so Paula does know one pop culture, like she doesn’t know pop culture plural, but she knows one pop culture. I’m just excited [00:32:10] Joe: Doug by that. Yeah, I’m very excited by the fact that she has a pop culture reference. [00:32:14] Paula: If you really want to to binge on a YouTube channel, all shift X has some of the best Game of Thrones breakdowns. [00:32:21] I will say that [00:32:22] Joe: we will put the Washington Post piece that I found, uh, Jesse and me. I’ll put it on the, [00:32:30] I will put it [00:32:31] Doug: in [00:32:31] Joe: the show notes ‘ [00:32:31] Doug: cause it’s really interesting. Jesse, you wanna just go ahead and do it right now. [00:32:35] Joe: It’s an illustrated guide. To the seasons of Game of Thrones and all the people that died. And it’s really, it’s, it’s kind of fun. Like I’ve seen a bunch of infographics, Paula in my day. You have too. [00:32:45] Mm-Hmm. Like you’ve seen a lot. I’ve never seen an infographic breaking down all the deaths in a series. Yeah. [00:32:50] Jesse: It really is a good infographic. [00:32:56] Paula: Okay. Well, I, ah, man, it’s a hard one. I will say, despite the fact that we know that in the battle scenes. We know as the audience that the battles resulted in a lot of casualties, but there are only so many that we can actually see on a screen at a given time. So I’m gonna take the under and guess. Two. 9, 9, 9. [00:33:21] Joe: Two. Nine. Nine. Nine. I almost said niner. Did you just have a niner? You’re calling from a walkie talkie. What’s that from Tommy Boy, I think. [00:33:33] OG: Tommy Boy. Yes. What number did you call? 7 5 4 Niner [00:33:39] Joe: Oh G. With 10,000. Jesse with 3000. Paula with 2,999. Who’s right? We’ll be right back and we’ll find out. OG opened up with 10,000 and, uh, Jesse and Paula thought that that number might’ve been slightly high. [00:33:55] What do you think [00:33:56] OG: first, Jesse said 50,000, and then he changed to three. I just, I gotta be. I mean, that’s such a, that’s such a mo, that’s, yeah. I have no confidence in his thing. I just went on, I have no idea times, uh, a big number times a big number. So I did a hundred episodes times a hundred deaths. [00:34:12] That’s how I got there. Jesse, what are you thinking? We’ll see. [00:34:15] Jesse: Yeah, I think it all comes down to, and I think maybe Paula was thinking the same thing, like the whole like onscreen versus offscreen deaths or just like if you see an event where you know, a bunch of characters, not characters in the show, but. [00:34:27] Civilians in the show just died. Well, does that count or not? And I think that might swing the number one way or the other. That is the hard part of this question, Paula. Yeah, [00:34:35] Paula: yeah, exactly. Exactly. Like it’s, it’s understood that this was a mass casualty event. [00:34:40] OG: Right? But [00:34:41] Paula: how many of those mass casualties, but [00:34:43] OG: until they pile up the bodies. [00:34:44] Yeah. Turn ’em off to the Great Dragon Fire in this guy. [00:34:48] Joe: I think George R. Martin forgot the word darlings. He’s just like, okay, kill. They say to kill. So I’m just gonna kill. Let’s just kill everybody ’cause oh my goodness, if, if you wanna see people die, just go to Game of Thrones or read Game of Thrones like I did. [00:35:00] Alright, uh, Doug, who’s uh, gonna win this one? [00:35:08] Doug: Hey there, stackers. I’m s B’s overlord Protector, and the guy who’s certain winter is coming. Joe’s mom’s neighbor, Doug George RR Martin’s birthday is today. And at first we thought it’d be appropriate to. Just not finish this trivia question for like seven or eight more years. We’ve got stuff to do. So let’s go ahead and show the good author how to craft an inning. [00:35:32] Watch this, George the Loser Martin is known for taking to heart the well worn idea in literature of Kill your Darlings. So how many people did the HBO people kill on screen while trying to duplicate Martin’s work? Well, I’ll tell you this, Jesse and Paula were way under, an OG was over, but the correct answer is 6,887 making OG our winner ’cause he was only unbelievable. [00:36:08] I know he was only off by 3001 13. I paused there because I was having to do a lot of math in my head. Unbelievable. Lord. Joffrey wins again. Paula. Wow. Lord Joffey knows nothing about it. Just takes some random Still wins. Broad guesses. Yes. Still wins. [00:36:26] Joe: Wow. Haters gonna hate it is a great infographic, by the way. [00:36:29] And I will link to it on the show notes at Stacky Benjamins. I found that, uh, that, that fascinating. We were trying to figure out, by the way. Uh, and Paula, you know, the red wedding and Jesse, you know, the red wedding. We’re trying to figure out how many people died at the red wedding. It’s what we, we, and there were so many different answers, but then the Washington Post had a definitive for the entire thing. [00:36:47] Like, they can’t tell me how many people died at the red wedding definitively, but they can tell me how many died in the entire series. So we went with, went with a big number, what’d you say? To 6,800 people die on screen. 68. 87. 68, 87. That’s, uh, for people who haven’t seen the series that shows you what you’re in for. [00:37:04] Doug: Rick OG was off by 31 13. Jesse was 38, 87 and Paula 38 88. [00:37:12] Joe: All right, we finished that one. OG Notches a point, but one of you two, uh, Paula or Jesse, you guys gotta match him to keep pace. So, uh, the third round of our. Competition is three points each and this second half of the competition brought to you by deposit accounts.com. [00:37:31] You go to deposit accounts.com, you find out that those brick and mortar banks probably don’t have your, uh, best interest at heart. And when you go to deposit accounts, let’s do that right now, you’ll find that you can compare 275,000 deposit rates for over 11,000 bank savings accounts, national average, up to 0.5. [00:37:51] It went down to like 0.49, but the top 1%. Down to 4.91. But think about that. If you’re even in the national average drawing, getting half a percent, doing a better job of keeping inflation if you’re in one of the hundreds of banks that are in the top 1%, 4.91. Where do you go? Deposit accounts.com where you can compare ditch switch and save. [00:38:11] Alright, Paula, you save the good one. Let’s hope it’s good enough. Woo. [00:38:16] Paula: Alright, so the final one [00:38:18] Joe: is meme stocks. Buying meme stocks is buying meme stocks. Is that on the list? Ah. [00:38:32] And yet, Paula, again, three good answers. Well, thank you. Mm-Hmm. And not on the list. And I’ll tell you guys, these are actually good. Like the stuff that Doug, you’ve seen these, the stuff that on the solicitor. Pretty good stuff. There’s, uh, really good ones here. Paula, did you get, obviously by thinking it’s dumb, you didn’t get involved at all in the means do craze? [00:38:51] Paula: Oh, I, I did a little bit. It was a pandemic. I was bored. You know, there’s a, there’s a distinction between taking a very, very small percentage of your portfolio and being like, I’ve gotten nothing else to do and this is the equivalent of sports betting versus really betting the farm on it. I interviewed, uh, this guy, a journalist. [00:39:11] I think he’s a Wall Street Journal reporter who tracked the whole story very closely. He interviewed some people who are now in support groups because they really were staking their future on it. Oh Lord. And they were taking grandma’s inheritance and betting all of that on meme stocks. ’cause they really thought that this was a thing and they thought they were gonna stick it to the man and, and all of that. [00:39:35] And so, you know, now there’s whole support groups for people who are like dealing with the fact that. That they lost their inheritance to it. [00:39:42] Joe: I have a family member that for a day, that day that the stock hit, uh, 70, remember that one? It, it went to 81 25 looking at it online, but when it closed, I think it closed around 70. [00:39:53] He had over a million dollars in GameStop stock. And he called me that day and I said, you need to sell this now. Like sell it now. You’ve just locked in your future. Like you’ve locked in a $40,000 a year lifestyle on top of all the other stuff that you’ve done. Like, that’s $40,000 a year for the rest of your life. [00:40:10] And, and he held on and you know why Paula? ’cause to your point, he was gonna stick it to the man and he was a true believer, [00:40:16] OG: go into the moon [00:40:17] Joe: and was, uh, but don’t get me wrong, he’s still doing really well. I mean, before that, you know, the stock had been trading at like a dollar. It’s still trading as we record this at $23 and 50 cents. [00:40:26] Mm. So he’s still doing all right with his GameStop, but nowhere near where he was, uh, back on that day. Uh, so Paula gets to relax for the rest of the episode because it’s now between Jesse and og. Jesse, you’re next. If you get three. OG doesn’t even have to go ’cause he cannot catch you. This [00:40:46] Jesse: is like, I’m on the free throw line. [00:40:47] I’m, I’m down. I’m not even down. It’s the end of the game. I’m on the free throw line and I just have to, you’re up [00:40:51] OG: by three with the ball. Right? You just have to not [00:40:54] Jesse: brick it. Right? But I’ve been known to throw some bricks, steal [00:40:56] OG: the game. Take a knee. [00:40:57] Jesse: I’ve been known to throw some bricks. Don’t run it. Hail Mary. [00:41:00] He run Hail Mary Don in the middle. Don’t risk the fumble. All right. If you wanna lose money in the market, you should pay high fees and commissions. [00:41:11] Joe: Is pay high fees and commissions on the list. [00:41:16] Jesse: Wow. Wow. The brick layer does it again. They call me the Mason. That’s a brick cl, [00:41:22] Joe: but yet another good one. Doug. [00:41:24] That is another good one. I mean, you look at some of these really high fee investments people choosing Paula, people choosing, I’m gonna try to keep Paul involved. Yeah, thank you. So she doesn’t fall asleep. But seriously, Paula, some of these high. Fee investments. [00:41:36] Paula: Yeah, that was a great, that was a fantastic guess. [00:41:39] Um, that they call me the Mason. Uh, but that was a, that was a fantastic guess. I, I wanna know what’s on this list. I was just [00:41:49] Jesse: gonna say, who wrote this article? What is going on? Right. [00:41:51] Paula: I feel like what we have come up with, I mean, this list better be darn good if it outperforms what we’ve come up with on this show. [00:41:58] Joe: I will tell you afterwards who wrote it. But, uh, for now, I will tell you that it is, uh, one of the Ritz’s Wealth Management people. I [00:42:06] Jesse: was gonna say, I think I saw, I think I saw. I didn’t, yeah. You must not have read it. You saw it all. I don’t think I did. Right? Brick [00:42:13] OG: after. Brick after Brick. [00:42:16] Joe: Well, don’t talk too quickly, og, because if you don’t get this one right. [00:42:19] Jesse Kramer’s taking on a win. What do you got? [00:42:22] OG: Yeah, effectively a tie for the day, but whatever. [00:42:25] Joe: Um, Nope. He’s got two points. You got one. Oh, a tie for the day. I see. Be tie for the day. Yeah. Okay. I [00:42:31] OG: just, I need to keep pace. That’s all I have to do from here on out. I, I’m playing with the lead. I just, you know, four minute offense. [00:42:38] That’s what we’re trying to do here. Four corners. We’re just passing the ball. I’m not gonna shoot, I’m just passing the ball. Well, please God. Shoot. Please. These, uh, all of these so far have been very technical and I think the answers are very, um, broad based. So we’ve said like, you know, meme stocks and margin and you know, these things that are like specific things. [00:43:00] So I’m gonna go broad brush stroke. You are gonna lose money if every year you rebalance your 401k based on what did good last year. So you sort by, oh, what did good last year? Oh, I’m gonna put my money in that one now. This is horrible. This is absolutely. How is that? Horrible. [00:43:24] Joe: Absolutely horrible. The rich get richer. [00:43:28] This piece. And by the way, we’ll tell you now. This is written by Ben Carlson at, uh, rich Ho, no name [00:43:32] OG: Guy at Rid Holtz. [00:43:33] Joe: Yeah, Ben’s [00:43:35] OG: never heard of him. [00:43:35] Joe: Ben’s uh, blog is called A Wealth of Common Sense, 15 Ways to Lose Money in the Market. And this one is specifically number four on his list. Fight the Last War. [00:43:47] Hedge. The eucharistic just happened by the black swan after the huge crash just occurred. Invest in the inflation edge. Hedge prices have already skyrocketed. Make the decisions you wish you would’ve made before you lost money. Fight the last war. Fight what did well before. That’s ugly. That is, that is ugly. [00:44:01] Let me read the rest of these to you ’cause I think you guys will agree that these are are good. Uh, number one on his list. Pretend you’re smarter than the market. How many times have we done that? You’re sure Just because you ate a tuna fish sandwich today and it gave you something. It gave you this little piece of brilliance that, oh my God, nobody else knows this thing that I know. [00:44:19] Number two, consistently try to time the market. I thought you guys would’ve gotten that one. Mm-Hmm. That one is the one that people market [00:44:25] OG: timing [00:44:25] Joe: all the time. Number three. How often have you seen this chase performance? Right. Oh, gee, this is kind of what you said with your last guess. Look at what did last year. [00:44:35] Right. If it’s doing quote, doing good. Now. Whenever we try to rebalance portfolios. When I was an advisor, that was always the hard part. They’re like, Hey, so what do you wanna do? I want I, we need to take some money outta this one. I want [00:44:46] OG: more of that. Yeah, I did [00:44:47] Joe: good. [00:44:47] OG: I [00:44:47] Joe: want more of that. Yeah. Why are you taking money outta that one? [00:44:50] No. No. Oh, okay. You’re the boss. Where are we putting it? Uh, let’s put it over here. That’s the one that’s sucking. Like, no, no, no, no, no. Reversion to the mean. Stop chasing performance. Number five on his list. I like this one. Take investment advice from billionaires. That one I knew you weren’t gonna get, but that is so true and we saw that, by the way, with Tony Robbins last book. [00:45:12] Right? The way to make money according to Tony Robbins is just, just get into a hedge fund, og Invest in the company that Tony Robbins owns. [00:45:20] OG: Yeah, I mean, uh, co owns, I mean, uh, get [00:45:21] Joe: into the hedge fund that he wants you to put money in and hey, you can, uh, do it. Minimum investment size. What? Like a hundred thousand dollars. [00:45:28] Like you can do that. No big deal. Number six, worry more about being right than making money. How long have you seen this be be the issue? This, this might have been Paula. Part of your GameStop one. mm-Hmm. People are like, I’m gonna stick it to the man and so I’m not getting out. Because I’m on a crusade to make money, so maybe right. [00:45:50] Number seven, benchmark your portfolio to the best performing asset class. Number eight, blame the Fed when you underperform. Number nine, live and die by the short run. I’ve done that before. I’m just gonna make a little money over the next few days. Number 11, assume you’re the next Warren Buffet. We talked about Warren Buffett. [00:46:06] Number 12, overreact to market volatility. Number 13, be pessimistic about everything. Number 15, I’m skipping the ones that you guys got right. Try to become rich overnight, which again, could have been [00:46:19] Doug: several of these. By the way, Joe, I did find a Warren Buffet action figure and fittingly. It cost $287. [00:46:28] Really? Yeah. On Etsy, [00:46:32] Joe: Warren Buffet action figure. Send me the link to that. I will link to it in the show notes I did. It’s that, so that we can all see that. Alright, that’s gonna do it for today. Unfortunately, uh, OG goes home with two points and, uh, Jesse, you could have cheated just a little bit better. [00:46:46] Jesse: I can’t. [00:46:46] I can’t. No, you gotta throw some once in a while, you know what I mean? It’s like, uh, at the pool hall you lose at first. You soften everybody up and then you wait for the 10 point trivia day. Later on in the year, that’s when you really just Google everything. [00:47:00] Joe: That was always, that was always my dad playing poker. [00:47:03] By the way, at the start of the night, he would bet the dumbest hands, which one’s an niece? Yeah, that’s right. Yeah. Uh, Jesse, let’s stick with you. What’s going on at the Best Interest podcast. [00:47:14] Jesse: Things are good. We’ve had some great interviews recently and I don’t know if I’ve talked about it here before. Um, put out some a MA episodes that are really, really fun. [00:47:21] Ask me Anything. Episodes, uh, listeners write in with their own financial planning questions and I answer five or six questions over the course of 45 minutes and I learn something new. The listeners learn something new and everybody has fun. That’s fabulous. And so it’s a, it’s like a popery episode, questions all over the map from all sorts of different people at different stages of their investing or financial planning lives. [00:47:44] Uh, I’ve gotten good feedback, so I’m probably gonna start doing more of them. [00:47:47] Joe: That’s great. And that’s at the Best Interest podcast where Finer Podcaster Found og, what do you got going on this weekend? This second to last weekend in September. [00:47:56] OG: Uh, big weekend for me, a little, uh, after school activity on Saturday, somewhat important. [00:48:01] And then, and then, uh, next week, kind of an off week. And my, uh, brother’s coming into town. Oh. So they get into some trouble next week after the dust settles from the weekend. Oh boy. [00:48:09] Joe: Doug gotta stay away from OGs neighborhood that week. OGs house will smell like a distillery and all the bingo parlors are you guys. [00:48:17] OG: It can be crazy. [00:48:19] Joe: Paula Pan, thanks for hanging out again. Of course. By the way, I’m, I, I was very excited today to hear that, not Paula, but Paula’s devices think I’m sexy, which is, [00:48:30] Paula: so I just got a new iPad and my iPad auto corrects C Hi, which is spelled. SEHY, it Autocorrects. See Hi to Sexy. Perfect. I was drafting the show notes for an episode that we did of one of the episodes on the Afford Anything podcast where you come and answer listener questions. [00:48:50] And uh, I said, you know, we’re joined by guest Joe Saul. Sexy. Perfect. [00:48:55] Joe: Dare, Doug. You gotta put that. Uh, big thanks to Tim Cooking Company. For adding that to the algorithm. That’s right. I, I really appreciate you people there in Cupertino for thinking of me making me jokes. All sexy Paula, what’s going on at the Afford Anything podcast besides, uh, my sexy appearances [00:49:13] Paula: besides some weird autocorrects, uh, the, uh, negotiation course that we have built, uh, course on how you can ask your boss for a raise and get one is open for beta testing. [00:49:27] So the week of September 3rd through 27th, that is the week when we are, uh, taking in beta testers for the course. So if you want to learn, actually, if you want to help develop a course on how to get a a’s, [00:49:39] Joe: come join us. Awesome. For that, we go to the website, right? [00:49:44] Paula: Yes. So go to afford anything.com. We’ll have a page there. [00:49:47] You know what, actually, as of the time that we’re recording this, I don’t have a special link set up, but I’m sure we’ll have like, you’ll find it. Anything doll. Yeah. Yeah. We’ll find it. You’ll find it. We’ll probably place one of those big fancy banners up at the top or something. So Yeah, I was gonna [00:50:00] Joe: say, if you follow Paula anywhere on social media, you’re not gonna miss it. [00:50:02] You’re not gonna keep it a secret. [00:50:03] Paula: I will try my best to keep it hidden. [00:50:05] Joe: Perfect. And that’s it. Afford anything.com and we’ll link to it, Paula, in the show notes as we get closer, by the way. So people wanna find it. Oh yeah, we’ll make sure we take care of that. [00:50:14] bit: Excellent. Thank you. [00:50:15] Joe: Alright, uh, thank you to our contributors. [00:50:17] Thank you to everybody who hung out with us, live on YouTube or hung out with us on x Doug. Here’s the big question, Doug. What should we have learned today? [00:50:28] Doug: Well, Joe first take some advice from Paula about Game of Thrones oh, oh, oh, and about borrowing against your house to invest. What was it again, Paula? [00:50:37] Can you just maybe clarify that? [00:50:39] Paula: Don’t borrow against your house to invest in the stock market, [00:50:43] Joe: even though she clarified if you were gonna do it exactly how to do it. [00:50:46] Paula: Oh, and definitely don’t borrow against your house to buy an NFT. [00:50:51] Doug: Okay. And second, you know, I’m still in awe of OG when he had that, that super deep insight. [00:50:58] Hey, og, can you say it again just so it really solidifies in in my mind. [00:51:04] OG: Do I have my notes? Hold on. I already threw ’em out. Hold on [00:51:16] Joe: again, Jesse, this is how the pros do it. [00:51:20] OG: I don’t like having to do Doug’s job for him, so I think it’s a little ridiculous. I already did my job. You should probably do yours, Doug. I’m just saying, uh, what did I say that was so earth shattering? You should probably not day trade options if you want to get rich. [00:51:36] Doug: Oh. Thanks, man. Appreciate how kind and gentle you were about that. But the big lesson, don’t tell Joe’s mom that winter is coming because that furnace immediately fires up before you even, and now it’s 85 degrees down here. Alright, looks like it’s time to strip down to my skis again. No, [00:51:59] Joe: no, no, no, no. [00:52:00] Doug: Not at all. [00:52:03] Thanks to Jesse Kramer for joining us today. You’ll find his show, the Best Investment podcast wherever you are listening to us. Now, you know what? I think I did. I, I mean, [00:52:15] Jesse: we’re getting closer. [00:52:16] Doug: Just Google, Jesse Kramer. You’ll figure it out because mom says we can trust you all. Throw links in our show notes or something at Stacking Benjamins dot com. [00:52:27] Thanks to Paula Pant for hanging out with us today. You’ll find her fabulous podcast. A four. A four, nothing. Sorry. A Ford. Yeah, wherever you listen to finer podcasts. And thanks also to OG for joining us today. Looking for good financial planning. Help head to Stacking Benjamins dot com slash OG for his calendar. [00:52:47] See I got something right. This show is the property of SB podcasts LLC, copyright 2024, and is created by Joe Saul Cihi. Joe gets help from a few of our neighborhood friends. You’ll find out about our awesome team at Stacking Benjamins dot com, along with the show notes and how you can find us on YouTube and all the usual social media spots. [00:53:11] Come say hello. Oh yeah, and before I go, not only should you not take advice from these nerds. Don’t take advice from people you don’t know. This show is for entertainment purposes only. Before making any financial decisions, speak with a real financial advisor. I’m Joe’s Mom’s neighbor, Duggan. We’ll see you next time back here at the Stacking Benjamin Show.
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