The Investing for Beginners Podcast - Your Path to Financial Freedom

Announcer (00:00): You’re tuned in to the Investing for Beginners podcast. Finally, step by step premium investment guidance for beginners led by Andrew Sather and Dave Ahern. To decode industry jargon, silence crippling confusion and help you overcome emotions by looking at the numbers. Your path to financial freedom starts now. Andrew (00:36): Welcome to the Investing for Beginners podcast. This is episode 47 I’m in the driver’s seat right now, but don’t worry, Dave is right here. We’ve got a lot to talk about and I’m going to be asking him a ton of questions because he’s been watching this particular topic, especially closely and knows a ton more than I do about it. And so it will be a good episode for me to ask questions because I’ll be coming at it from the mindset of a beginner. And I’m hoping that a lot of people are feeling that way too. And you’ll be able to answer a lot of our questions. So what’s up with the fed? First off, tell us what the fed has been doing lately and then maybe we can explain what they are and what they’ve done lately in respects to like the 2008, 2009 great recession and some of the events since then, but whether they’ve been doing and how is that affecting the economy and the current virus and everything like that? Dave (01:44): Boy, that’s a good question. So the, the fed has, for those of you who are not familiar with what we’re talking about, the, the, what we’re referring to is the federal reserve bank. So this is the central bank for the United States. And in essence what they do is they are there to help stimulate the economy or slow down inflation. So their basic two rules are they want to create more jobs and they want to, they want to control inflation as best as they can. So the way that they do that is they use funds with the banks to try to create more money or reduce money in the economy. And now does that mean that they physically print more money? Not necessarily. They do. Do some of that. But the majority of what they do is they create money by creating money with the other banks in allowing them to buy bonds from the federal government. Dave (02:41): So treasuries, and then that money is is taken away. It’s not taken away. It’s used as deposits to lend out to us to buy stuff, cars, you know, buildings, restaurants, whatever it may be, houses, all those kinds of, and so that’s how they put more money back into the system. So what they’ve been doing recently with the coronavirus hitting us, the pan Ana that has gone through the world, they have taken their balance sheet and basically exploded it. They’ve just kind of opened everything up and said, whatever it is, we’re going to buy it. So the first thing that they did was they lowered all the

Announcer (00:00): You’re tuned in to the Investing for Beginners podcast. Finally, step by step premium investment guidance for beginners, led by Andrew Sather and Dave Ahern. To decode industry jargon, silence crippling confusion, and help you overcome emotions by looking at the numbers, your path to financial freedom starts now. Dave (00:35): All right folks, welcome to Investing for Beginners podcast. This is episode 146 the night. Andrew and I are going to take a break from doing some interviews with some of the great guests that recently, and we’re going to ask some listener to answer some listener questions tonight. So we’ve got a few fantastic ones that we thought we would go ahead and answer on air for you guys. So I’m going to go ahead and start with the first one. So this one says, dear Andrew, first week, can I thank you for all the help you’ve given me despite being from the UK in England, your podcast is by far the best investing podcast out there. The main question is, how do you check if a company has been buying back shares when they repurchased them and what price they buyback was four. I was at high or low slash a good or bad investment slash and intent to manipulation rather than invest. I know it was a little more complicated than this, but where do you start with that? Also, how would you Google whether the company has had a recent merger, or is that also on a 10 K as well? I imagine you are very busy and get lots of questions to come in, but I just wanting to accept a massive thank you for me, and you guys are making my isolation. Very productive. Yours sincerely column Andrew, which I like to go ahead and take a stab at that. Andrew (01:50): Yeah, I love it. Good question. I a lot of the questions that came in lately, first off, thanks for writing in and seconded off; they’re pretty in-depth. So I guess I would not consider this beginner level whatsoever. So if you’re a beginner, this is the first episode you’ve ever listened to, go to our back to the basic series, and get yourself educated on that first. This stuff’s complex, but it’s also very important when it comes to stocks. So let me try to answer these kinds of the line by line. So how do you check if a company has been buying back shares? So one way you could do this and the way I like to do it, I like to check whenever I’m looking at a stock, I use my favorite tool, quick fs.net just to look at the big picture of stock before getting into the [inaudible]. Andrew (02:46): So if you go on there, you can look, and you can see the shares outstanding from year to year to year. So if I look, and if I saw in 2019, the stock had 6 million shares outstanding, and then let’s say 2020, they had 550 million, so shares outstanding, dropped by 50 million.

Announcer (00:00): You’re tuned in to the Investing for Beginners podcast. Finally, step by step premium investment guidance for beginners, led by Andrew Sather and Dave Ahern. To decode industry jargon, silence crippling confusion and help you overcome emotions by looking at the numbers. Your path to financial freedom starts now. Dave (00:36): All right, folks, we’ll welcome to Investing for Beginners podcasts 145 tonight; we have our good friend, Braden Dennis, back for another show. He’s going to be talking to us from Canada. He is locked up just like we are, but a, and he’s got some great ideas for us. And for those of you who are not aware of Braden, for those of you who lived under a rock, Brayden works with stratosphere investing. He’s also with the Canadian investor, which is as of today, well I guess more recently is the top Canadian investing podcast in Canada, which is awesome. So congratulations, Brayden. Thank you for coming back on the show. And why don’t you tell us a little bit about what’s been going on? What are your thoughts on all the fun with the market fluctuations, shall we say? And the effects of coronavirus from your point of view. Braden (01:24): Fun is a good word that you just use to describe it. Another one would be confusing. And the third one I might use is just uncertainty is the name of the game when it comes to the stock market right now and more than the stock market. Our lives are regular day to days are just kind of in this whirlwind every morning when I open up my laptop working from home, I have to check what day it is. I told Nolan the last time I was in a routine where I just absolutely had no idea. So it is a weird thing, and it is unprecedented in terms of history. This is a game-changer. And for me, the way I think about it with my investments and my customers a stratosphere investing is what are you learning about yourself right now with the Coronavirus pandemic, what are you learning about how you react in a bear market? Braden (02:25): That self-awareness is key right now, and that alum lock with how you should think about your portfolio in the future. And right now, if you are panicked on the sell button, then you need to rethink the type of companies you might hold and your style in general. If you’re just not able to sleep at night, knowing that 25% 30% corrections in stocks are actually not a new concept by any stretch. So although this, what we’re dealing with right now is unprecedented, and his historic mortgage drops are not. So you have to take a step back, take a little bit of, you know, self-awareness. And for myself, quality, quality, quality, quality businesses are the ones that you will be able to look in your portfolio and go; I know that this company in five years, ten years, 20 years, we’ll continue to be a great free cash fl...

Announcer (00:00): You’re tuned in to the Investing for Beginners podcast. Finally, step by step premium investment guidance for beginners led by Andrew Sather and Dave Ahern. To decode industry jargon, silence crippling confusion, and help you overcome emotions by looking at the number, your path to financial freedom starts now. Dave (00:36): All right folks, welcome to Investing for Beginners podcast. This is episode 140 tonight. Andrew and I have a little special guest. We have Andy Shuler with us tonight. Andy is a regular contributor to the blog that Andrew started einvesting for beginners podcast a while ago, and so we’re going to talk to Andy today about some of his ideas about personal finance. We thought we would go off topic a little bit and maybe move away from Coronavirus and all the death, doom, and despair that’s out there, and maybe guys give you guys some refreshing news and something good and fun that’s going on out in the world. So Andy, why don’t you tell us a little bit about yourself, where you’ve been, what you’re doing, kind of how you got started, all that kind of fun stuff. Andy (01:16): Yeah, sure thing. First of all, I want to say thanks for having me on. I’m happy to talk about this. As you said, I’ve been, I’ve, I’ve written quite a few blogs, so it’s, it’s kind of exciting to get back to the basics with all the coronavirus stuff going on. You know, you can kind of look at your personal finance, something you have a little bit more control over then than what you might have in the market at all times. But, so as you said, I’ve been doing this for a little while. Just a little background about myself. I’ve kind of, you know, been through all different, all different areas of life, especially when it comes to personal finance. I think I could probably write almost a book and all the mistakes you don’t want to make. I mean, I’ve opened credit cards in college and maxed them out, you know, with the sole purpose of not having to work a job. I was in school gone through times where, you know, I’ve cashed out a 401k or got a 401k loan, and you know, everyone talks about how those are probably one of them, the worst things that you want to do. But just really just gone through a lot of trials and tribulations. They’re all my time off, you know, learning mistakes or making mistakes, trying to learn from them. And my, my investing journey I’ll say didn’t fully kick off until, Andy (02:31): Oh, man. Probably 2017 or 2018. I’m trying to think. It was a few years ago, but it was, you know, listening to this podcast and a few other podcasts. So it feels full circle be able to come on and share some of my stories after, after posting on the blog for so long.

Announcer (00:00): You’re tuned in to the Investing for Beginners podcast. Finally, step by step premium investment guidance for beginners led by Andrew Sather and Dave Ahern. To decode industry jargon, silence crippling confusion, and help you overcome emotions by looking at the numbers, your path to financial freedom starts now. Andrew (00:35): All right folks, so welcome to Investing for Beginners podcast. This is episode 143 tonight. Andrew and I are going to talk about why investing in a bear market is really hard in case you’ve lived under a rock recently. The stock market has been up and down, mostly down a lot over the last week to two. And so we thought we would kind of talk a little bit about a bear market because we’ve officially entered a bear market territory. As of today, I believe we were down around 23% so far for the year. So that is officially a bear market when we get below 20%. So Andrew thought this would be appropriate for us to discuss this. So, Andrew, I’m going to turn it over to you and let you get us started and then we’ll just kind of go down a rabbit hole. Andrew (01:21): Yeah, I love it. Watch our timing be that this bear market recovered by the time this goes live. Yeah. I guess last time we talked about Coronavirus, it just happened to be still relevant a week later. Podcasts see you gotta you got a little tape delay, not a little bit longer than what they do with live TV these days. A little bit longer than five seconds. Yeah, exactly. Andrew (01:55): I think there’s a lot of emotions that go on and certainly regardless of how experienced you are, how knowledgeable you are and how rational you believe you are when it comes to stocks when it comes to investing when it comes to the market how disconnected you think you are versus how ingress you are with everything that goes in the stock market. I think it’s safe to say that a lot of different thoughts go in your head that you don’t usually think when stocks are excellent and you know, their stocks are slowly climbing up, and you don’t see much volatility. Looking at a situation like this with the bear market and you know, a lot of macro trends that are very concerning. We have the Coronavirus which Andrew (02:48): As of late as of today, we had the NCAA championship close. The NBA season’s been suspended. Like you know, you name it right on top of that we have interest rates, baseball based. Sorry, Dave. I know, I know. Out of everything, that was the one thing that you lamented today. I texted you earlier, I think it was like, Oh, by the way, you know the stocks down 20%, whatever,

Announcer (00:00): You’re tuned in to the Investing for Beginners podcast. Finally, step by step premium investment guidance for beginners, led by Andrew Sather and Dave Ahern. To decode industry jargon, silence crippling confusion and help you overcome emotions by looking at the numbers. Your path to financial freedom starts now. Dave (00:36): All right, folks, welcome to Investing for Beginners, podcast 142 tonight. Andrew and I are going to answer some listener questions. We got some fantastic ones recently, and we thought we would take a few moments to answer those for you. So the first one is not a question, it’s an update. Andrew and I have talked a little bit about Coronavirus. Wait, Andrew, and I had some updates that he wanted to share with everybody. So I’m going to turn it over to my friend Andrew, and he’s going to go ahead and take us away. Andrew (01:06): Okay? Sure. Yeah, I mean, I’m; obviously, it’s is something that’s top of mind. We recorded at the time when the market was very turbulent. And then the episode, we recorded it a week ago, the episode got released today, which is March 5th. And you know, you’ll be listening to this a week from now and the, you know, the carnage is not done yet. It kind of looked like it would be for a couple of days. Andrew (01:36): Right. And then today was just downright awful. I don’t know if you did you look at your portfolio today? Oh yeah. It’s red. It’s red. Yeah. It’s like scary red. So I mean I felt like last week I was a bit somber and attitude. I think this week I’m feeling a lot more optimistic about the situation. But I don’t think wall street is quite there yet based on, you know, I’m not any sort of coronavirus expert. I have little to no knowledge about medical stuff. But from my understanding of things I’ve started to pick up, the mortality rate of the virus was a lot worse. Like multiples worse in the Wu Han area, which I believe is like the more rural part of China that possibly doesn’t have as good of medical support system and, and things in place to help people that do get sick. Andrew (02:42): So when you compare that with how it was in the rest of China with the cities in China and things of that nature, from what I understand that it was a lot worse than [inaudible]. So that’s kind of hopeful for the rest of the world. But I think when you talk about the spread of it, I think it seems like we’re still in the early innings, which I believe will have economic consequences, but will it be as dire as people are fearing? And as wall street is fearing,

Announcer (00:00): You’re tuned in to the Investing for Beginners podcast. Finally, step by step premium investment guidance for beginners led by Andrew Sather and Dave Ahern. To decode industry jargon, silence crippling confusion, and help you overcome emotions by looking at the numbers, your path to financial freedom starts now. Dave (00:36): All right folks, welcome to Investing for Beginners podcast. This is episode 141 tonight. Andrew and I got a, well actually we’ve got a great a wetter from one of our listeners recently, a couple of weeks ago and it describes, it touches on two subjects that are very forefront in the news recently with the growing possibility of a pandemic with Coronavirus as well as the ups and downs of the stock market lately over the last three or four days, which is mostly down the last three days. So we thought we would read this sweater and kind of help answer this question for the gentleman, and I’m going to turn over an Andrew, and he is going to go ahead and get us started. Andrew (01:16): Okay, sure. I’ll start reading what he said and to give context. So we’re recording this on the 27th of February. Trump just did his first conference on the Coronavirus last night and today, earlier this morning, and I saw reports that we have cases in California now with the current virus. Andrew (01:42): So it’s getting really serious. People are freaking out and with good reason, and I mean, I had a warning about this two weeks ago from this email I received, and it’s just one of those things you can’t, I guess ever really understand the gravity of it until it starts to affect you. But let’s read some of his experiences. Talk about how that’s evolved and what we see for the market moving forward. So this is from Matt. He says, hi there, Andrew. I’ve subscribed to your monthly stock picks, and they’ll start following them, investing in the stocks you choose. I have a few questions regarding the current economic environment and the future outlook. I’m from Australia but live in Singapore. The current Coronavirus has created a lot of havoc in this part of the world, and it doesn’t look like it will calm down anytime soon. Andrew (02:33): From my perspective, I run rehabilitation clinics around Asia, and our patient numbers have dropped by around 30% our medical supply chain has been greatly interrupted, and the companies are unable to deliver our stock. China has stopped at manufacturing schools, and businesses are starting to close and stop operating for periods due to the virus. People are not eating now.

Announcer (00:00): You’re tuned in to the Investing for Beginners podcast. Finally, step by step premium investment guidance for beginners, led by Andrew Sather and Dave Ahern. To decode industry jargon, silence crippling confusion, and help you overcome emotions by looking at the numbers, your path to financial freedom starts now. Dave (00:36): All right folks, welcome to Investing for Beginners podcast. This is episode 140 tonight. Andrew and I are going to take a little bit of a detour on that. Talk about something he would not talk about. But before we’re going to talk a little bit about cars. We’re going to talk about car maintenance and the compounding interest that you can get from car maintenance. So Andrew had some great ideas that he wanted to share with you guys cause he’s, he’s had some car problems recently, and this has sparked an interest in this. And so he, and I thought we could riff on that a little bit. So, Andrew, I’m going to go ahead and turn over the keys to you, and we’re going to go from there. Andrew (01:09): Very nice. Yeah, toss over. I, I think, you know, I thought about this topic before we got on and I know it’s not the most exciting of topics because either car isn’t interesting to you or you think you make a lot of money. Like you could also be in a position where it’s like, well, I like cars so much that you know, I’m going to spend as much money on them as I want. Or you could be like the third situation where it’s like, I have so much money that car expenses aren’t a lot to me. And so like Mr. Wonderful and Shark Tank, you can’t relate. So you know, whether you fall in either of those three categories, I want to challenge some commonly accepted ideas about cars and car payments and car maintenance because for the middle class, outside of housing costs or rent costs, your car costs are going to be pretty high up there. Andrew (02:20): You start throwing gas into the equation. Now you’re talking about, you know, not, and not an insignificant amount. So when you start to break it down, and we’ve talked all over and over and over and over again about how you can take small amounts of money and by using compound interest and investing that over the years and, and letting those dividends come in and reinvesting those you can make small amounts of money turn into big amounts. And so, you know, if you’re somebody who, let’s say you’re, you have a lot of wealth and, and some of these car expenses don’t mean anything to you. While maybe that difference in compound interest, you know, let’s say you’re thinking about buying a Tesla now, and instead you downgrade; hopefully, you’re inspired by the episode. Maybe you downgrade to like a middle-sized luxury

Announcer (00:00): You’re tuned in to the Investing for Beginners podcast. Finally, step by step premium investment guidance for beginners led by Andrew Sather and Dave Ahern. To decode industry jargon, silence crippling confusion, and help you overcome emotions by looking at the numbers, your path to financial freedom starts now. Dave (00:36): All right folks, welcome to Investing for Beginners podcast. This is episode 139, tonight, Andrew and I are going to have a little discussion back and forth. We’re going to talk about bonds, so I’ve written three blog posts over the last week or so about bonds and the different aspects of them, the different kinds there are and kind of the ins and outs of them, and Andrew and I thought that too actually. Andrew thought that this would be an interesting conversation for us, and he thought he could maybe ask me some questions and see what I could do to help people learn more about this particular asset class. This is something that’s not talked about a lot. It’s certainly not taught in schools and most people are very unfamiliar with bonds and how they work. And as we know, if you’re unfamiliar with something, it can be a little bit scary or overwhelming. So we hope we can help illuminate this asset class a little bit more and give you some insights. And if this is something that you’re interested in learning more about, we’re here to help you. So without any further ado, I’m going to turn over my friend Andrew and he’s going to grow me with a lot of really hard questions. So fire away. Andrew (01:42): I’m not going to put you into the grill, not today. Maybe we’ll say that for another episode. Yeah, you wrote three great posts on the blog, and I think if people hear our conversation and they’re interested in getting down to the nitty-gritty, I suggest breeding those. You know, it’s spaced out in the publishing schedule. But really if you go on the website, investing for beginners.com you go to the search bar, you type in bonds and you’re going to talk about several different types of bonds. And I think that will be very helpful. So if you have like, let’s say you want and learn more about municipal bonds, you could type that into the search, the search bar, and you’ll see Dave’s masterpiece on there. These in-depth guides and those can be very, very helpful. Andrew (02:30): But first, before we get into all of that, let’s talk about maybe why bonds are, what kind of investor would find it attractive? I think not only, you know, I think when we think of bonds in general, but you also start to think of people who are in retirement or close to retirement. And there are good reasons for that because we’ve talked in the past how the stock market over the very, very longterm, it’s,

Announcer (00:00): You’re tuned in to the Investing for Beginners podcast. Finally, step by step premium investment guidance for beginners led by Andrew Sather and Dave Ahern. To decode industry jargon, silence crippling confusion, and help you overcome emotions by looking at the numbers, your path to financial freedom starts now. Dave (00:36): All right folks, welcome to Investing for Beginners podcast. This is episode 130, tonight, Andrew and I are going to talk a little a bit about how the news can impact the market. Lately, there have been some bigger news things that have hit the news and have had a big impact on the market lately and Andrew and I thought that this would be kind of a timely subject to talk about. So we thought we would chat a little bit about this. So Indra and I were talking off-air about some of the things that are going on in the world and whatnot. And we thought we would share our thoughts on those and how they can impact the market. And you can see some of the things that are going on right now, which are very, very fresh in everybody’s mind. You know, we’re recording right now in February of 2020 and so some of the big things that are talked about in the news recently are Coronavirus has been a big thing. Dave (01:31): The trade Wars and also with the Tesla stock, a big shock here in the last week or so since our earnings came out. Those are some big items that Andrew and I thought we could talk a little bit about. So why don’t we talk a little bit about Tesla first, how they have some fun with that. That’s always a fun conversation for us. Our favorite, right? Yeah, exactly. I’d like to hear what you were talking about before we hit the record button because you’re, I mean, we should have been recording then and there you got the fire that yeah, it was, it was pretty interesting. So for those of you that have been under hiding under a rock recently Tesla put out their wait as to quarterly earnings, which came out, I believe it was towards the end of January. It might’ve been January 29th or 30th. Dave (02:23): I can’t remember the specific day. But anyway for them they had a good earnings report. They showed some free cashflow for change. They had revenue increased. It has been increasing over the last three or four quarters. So good for them. They are selling more cars, which is awesome. But I was kind of looking through the earth through the financials before we came on the air. And I was talking to Andrew A. Little bit about it. So some things I wanted to kind of point out. So number one, their earnings per share for that quarter was $.056. Whole cents, wait for it. 56 whole cents. Yeah, huge numbers. Right? And so for a company that has orange or marker cap, then gosh, I can’t think of anybody else for combined.

Announcer:                        00:00                     You’re tuned in to the Investing for Beginners podcast. Finally, step by step premium investment guidance for beginners led by Andrew Sather and Dave Ahern. To decode industry jargon, silence crippling confusion and help you overcome emotions by looking at the numbers. Your path to financial freedom starts now. Dave:                                    00:37                     All right folks, welcome to Investing for Beginners podcast, this is episode 137. Tonight Andrew and I are going to go back to the mailbox, and we’re going to answer a listener question. We’ve got a great one the other day and Andrew and I thought we would take a few moments while who were kidding. We could, it could be a little longer than a few minutes and we’re going to go ahead and answer the question on air for the person. So I’m going to go ahead and read the question and then I’ll have my friend Andrew take a first stab at answering it. So we’re going to go with: Dave:                                    01:06                     hi Andrew. I have a question for you. If I invest in a company for its dividends and the stock makes a run, and I feel that has reached or surpass what I have figured out what its intrinsic value is, what do I do now? What if the stock starts to decline? Do you sell and wait for a new bite point or do you hold on even if it declines 10 20 or 30% because you like this company? Does it seem like a dual-edged sword? You like it so you want to hold onto it but you don’t want to give up all that equity that you’ve made because of the dividends you could be getting. I need help working through my emotions in this regard, Tom. All right. Andrew, what are your thoughts on Tom’s question? Andrew:                              01:44                     I like the question a lot. I think it’s a good timing just based on where I’m at right now in my investing stages,

Announcer:                        00:00                     You’re tuned in to the Investing for Beginners podcast. Finally, step by step premium investment guidance for beginners led by Andrew Sather and Dave Ahern. To decode industry jargon, silence crippling confusion and help you overcome emotions by looking at the numbers. Your path to financial freedom starts now. Dave:                                    00:35                     All right folks welcome to Investing for Beginners podcast. this is episode 135, tonight Andrew and I are going to discuss that Andrew had this great idea that we would talk about what investors know, which is nothing he is forecasting the future and what analysts mean when they think about what’s going on in the future and how we don’t know what could become. And if we do well, then you’re smarter than us. So without any further ado, I’m going to go ahead and turn over to Andrew and Andrew is going to go ahead and take it away. All right, Andrew Andrew:                              01:10                     Yeah, thanks, Dave. I had, so I have four bullet points on this, just kind of different examples because something about this topic is pressing and I feel it needs to be sent at the same time. I think it’s very inspiring and it can certainly help somebody who’s a value in this or somebody who’s trying to be a contrarian. When you’re trying to buy stocks at a discount to their intrinsic value, you’re going to have to go against a lot of them. Maybe at first, these not the right word, but you know, you have to go against the grain. You have to go against what the popular opinion is on the stock and you know, sometimes the popular opinions, right? And sometimes it’s wrong. And so we can kind of look at the stocks we’re looking at today and maybe our South, here are some reasons why the stock is probably undervalued. Maybe there are good reasons and here are some reasons that are probably just been alerted talk, you know, just like, Andrew:                             

Announcer:                        00:00                     You’re tuned in to the Investing for Beginners podcast. Finally, step by step premium investment guidance for beginners, led by Andrew Sather and Dave Ahern. To decode industry jargon, silence crippling confusion, and help you overcome emotions by looking at the numbers, your path to financial freedom starts now. Dave:                                    00:36                     Welcome to the Investing for Beginners podcast. This is episode 135 tonight. We have special return guests this third time with us on the show though it’s a record we have Braden Dennis from Stratosphere Investing. He is our Canadian expert all around, great guy, and very smart and a lot of fun to talk to. So Braden, why don’t you tell us a little bit about what’s been going on with you since the last time we spoke. Braden:                                00:59                     Absolutely. Yeah, it’s good to get to talk to you guys, and thanks for having me back on the show. Episode 135 that is awesome. Congratulations. And I like you guys enough to miss my two favorite hockey teams. We’re playing each other right now, so you guys should feel pretty good about that. Are you allowed to have two? So we’ll get to it when you’re Canadian, you can have five. Exactly. I live in Toronto, so I have to cheer for the Leafs, but I was born in Calgary, Calgary flames fan. Wow. Yeah, that’s green. Doesn’t know. I know. Well, they don’t play each other that often, so I don’t have to run to this issue very often. Well, good to know. Braden:                                01:39                     Yeah. So it can be somewhat more entertaining than they pick you up. All right. So yeah, I know it’s really good to be back. As I’ve mentioned before, I am an investor. I’ve been investing since the day I turned 18 when I was able to open up my investing account. And yeah, it’s been great. I think the first time I came on

Announcer:                        00:00                     You’re tuned in to the Investing for Beginners podcast. Finally, step by step premium investment guidance for beginners led by Andrew Sather and Dave Ahern. To decode industry jargon, silence crippling confusion and help you overcome emotions by looking at the numbers, your path to financial freedom starts now. New Speaker:                   00:35                     All right folks welcome to Investing for Beginners podcast episode 134 tonight we’re going to do a book review. I’m going to talk about it, a book that I read recently and we’ll kind of go over some notes that I took on the book and Andrew and I will talk a little bit about it. So the name of the book is called Skin in the Game. Nassim Tabel wrote it. Now, if you have not read any of his books, this is his fifth installment of the Incerto series. So he’s also written, saw other fantastic books like a Black Swan Antifragile as skin in the game as it is a most recent one. That’s the one that I’ve read. I have not read the other four yet. Andrew, have you read any of his books? Andrew:                              01:18                     I’ve done some of Black Swan [inaudible]. He’s like a fascinating guy’s got a lot of great ideas. People Revere him because when he wrote Black Swan, I think it was right before either the 2010 flash crash or the 2008, 2009 bear market. But the gist of it is that people try to reduce risk in the market and, but they’re investing, but they don’t think of what it is called, like a Sigma six-event or something. They don’t think of that Black Swan. The unprecedented event that we’ve never seen. And all it takes is that to wipe out all the other smarts and gains that you’ve had. And you know, the timing of that book was great. The theories in the book and everything like that is really good. And that’s something that, especially, I think as the internet goes on and on and on, and I’ll stop going on and on and on about it. Andrew:                              02:21                   ...

Announcer:                        00:00                     You’re tuned in to the Investing for Beginners podcast. Finally, step by step premium investment guidance for beginners led by Andrew Sather and Dave Ahern. To decode industry jargon, silence crippling confusion, and help you overcome emotions by looking at the numbers, your path to financial freedom starts now. Dave:                                    00:36                     All right folks, we’ll welcome to investing podcast. This is episode 133 today. Andrew and I are going to discuss commodities and oil a little bit. We’ve not talked about these before and so we thought we would touch on this subject a little bit. So Andrew, why don’t you go ahead and share your thoughts with me and we’ll have our little conversation. Andrew:                              00:56                     Okay. so you know, oil has been awful lately. Have, have you invested in any oil stocks as of late? Dave:                                    01:06                     Uh not as of late, but about three years ago, I did buy a company called national Oilwell. Varco yeah, that sounds right. Yup, yup, yup. Yeah. NOV. Yup. I didn’t invest in them and I lost a lot of money and then I sold out of it. So that was not to the bottom at the time. Andrew:                              01:31                     So, yeah, yeah, I remember looking back in 2013 and seeing that Chevron looked interesting. And if you look at their price charts since then, it’s been, they’ve done like absolutely nothing. I had bought a company that was oil