i cannot believe who we have here today tony robbins is coming on the podcast tony robbins is the number one life coach performance coach in the world is the highest paying public speaker of all time this guy's built a business m empire that does seven billion a year in revenue incredible entrepreneur and coach i mean this guy's customers his clients the guys who pay him to coach them are like you know top athletes you know serena williams and tom brady and conor mcgregor you know to politicians nelson man mandela bill clinton the top traders and investors in the world ray dahlia paul tudor jones they pay him because they know that tony is can help be their edge right he can help them level up so if he can help them a level up i think we can learn a lot from him i'm gonna ask him about three specific things the first is i actually went to a tony robbins event eight years ago this is my notebook from that event i still have it eight years ago eight eight years later and the reason why is because i hate to be that guy who's was like i went to a self help someone an ardent changed my life but it did i really came out a different guy i came out a happier guy i ended up you know at the time i you know this podcast called my first million i didn't have my first million then and i came up with a plan i came up with a strategy and i stuck to it after that event i and i did it because i he i made three specific shifts and so i know most of you will never go to one of his events you'll go to the seminar it's four eight bang it's kinda weird it's not as cool as just going to coachella or whatever but i wanna ask tony about those specific three shifts so that you can hear from him exactly what i heard in that event that changed my life that's what we're gonna do on this podcast today those same exact things that changed my life i'm gonna have him explain on the pod today it's kinda like a live coaching session which is people pay this guy million bucks to do this and we're gonna get it for free also at the end of this tony doesn't know this but i'm gonna actually give away it's just under a hundred thousand dollars worth the tickets to seminar so for people who listening to this there'll be directions at the end of how you can actually get a free ticket to go to one of his things if you so choose so that money is not your limitation so at least i can do this guy's help me out so much in my life i would love to pay it forward to the next person and and send them to the seminar lastly we talk about his his new book which he's been interviewing all these billionaires right the there's this this championship mindset right he works with the top one percent of the one percent and i wanna know what's different what are they doing differently he tells the story about an investor who bought forty million nichols like literally like the coin the nichols why they did that and why that was such a good idea i wanted to hear some of these stories from him hanging out with these billionaire investors because he doesn't talk about that a lot and i i'm i nerd out about that kind thing so enjoy this episode with tony robbins this is a real cool moment for me with this podcast to be able to do this i think tony for coming on and i hope you enjoy i feel like i could rude where i know i could be what i want to put at all in it like a day's off on a road pull this one out today to just do a little refresher where'd did you go where'd did you go i went to new jersey it's actually a funny story i i had heard oh tony robbins his motivational speaker and i i kind of was like do you do i need motivation i don't need motivation i don't know but i there was something inside me that because when you what had watched your videos i thought well it's not just that i mean he's a is entrepreneurs doing his company doing billions in revenue it's clearly a leader and when i went to this event i knew that it wasn't just like it wasn't just some generic self help bs and i go and a couple things stood out right away i just wanna tell you about this my experience at your event so i go and the very first thing that happen is i plan to just sit back i'm here to learn okay i'm not gonna jump i'm not gonna do all that dance and jumping around stuff this is my mentality fifteen minutes later that's out the window i'm into it i'm having a great time the second thing is i noticed i see these celebrities upfront these are some of the most successful people i know alright there i i hear this scream that almost sounds familiar i look over and it's j butler the guy from three hundred like the spartan i'm like if he's into this i i think i could be into this you know like you have this thing right give your neighbor high five i turned its vanessa hud i'm like giving her a hug i this amazing experience when i was there was one guy who turned and looked at me and he said first time because he's your see this your face and i was like yeah i mean this this is not your first time he goes no i've been to five of these and honestly i was like a little discouraged i was like you had to come to this like five times like i don't know is that how this works and i go why'd you come five times he goes because when michael jordan's in his prime and he comes to your town you go watch and play yeah and i thought that was one of the best comments i said michael jordan he said yeah he's this is the michael jordan he's like he does many things but he's the michael jordan public speaking and after that i started looking at what you were doing differently you work with billionaires and presidents and athletes and all this stuff but every superhero as a origin story right like spider man got bit by the spider and that's you know that's where he got his powers from i think your origin story is amazing and not not a lot of people know the full story can you take me back your seventeen years old i think you're a part time jan and you've never been to a seminar in your life how did you what was your spider how did you stumble into this it's an interesting question i was already interested in personal development because i had a kind of a rough background i have four different fathers we had no money for food i to work two jobs work as a jan and my mom had a friend and dad had a friend that had been my my dad my dad's description was he used to be such a loser and now he's really successful and so you called and said listen i hear your son's gotten big i was i i was five one high school and i i was six too by my seat here i grew ten in the year i tell people the difference is personal growth by the way but the bottom line is he said you know i i gotta move some furniture things i heard he's big you know could he come work for the weekend for some extra money so i did i worked really hard and the guy really wasn't impressed by my work ethic so he said i'm a take you to lunch i we're go to this lunch and you know and he's saying you know i i really think you go she's got a lot of drive but i said well i'd like to ask you some questions and he said okay nice said my dad used to say he used to be such a loser and now you're so successful how'd did you do that you know only kid can say this right i wasn't trying to be cute i just literally repeated it you go just said what and then he's like well it's kinda true and he said i went to this seminar artist of what does seminar i've never heard such thing he said well man who has really become accomplished takes twenty years of his life and teaches you in three and a half hours the best of what you need to know and make your life work i said wow that sounds was really interesting i said could you get me in and he said yeah and there was no follow ups so i said well will you and he said no i said well why not you said well because if you don't pay for you won't value it and at the time i was working generating making forty bucks a week so i said how much is it he said thirty five dollars it'd be like two hundred fifty dollars and and you today's dollars to give you an idea but it was a week's pay is all i knew was like are you kidding me for three hours i said no one of the guy's rich he goes no that's not it he said he really has these tools but he said if you think it's too much then you go learn your own experience and take ten or twenty or thirty years and maybe you never learned it at all and so long story short i mean when i thought was the biggest decision in my life to take a week's stay and i went and nerd heard jim ro speak and i was deeply moved and i left there going okay i'm gonna become president united states i'm gonna start with a plan of running for junior in high school and run for student president that i'm gonna be state so i was just looking to have the most impact but what it led to was me just really digging in and learning everything i could about human development and then very quickly because i was studying everything i get my hands on it came across neuro linguistic programming nlp which at the time was breakthrough a new technology of how to use language to change human emotion of behavior and i talked my way into this you know six month class i was the only non therapist in the class and and after the first weekend i was just out using it i been stop i'd go to literally and with this the program i went to was at the airport all the in an lax x and i go to the denny's that was right next door afterwards and look for people to help that's like i'm gonna change your life but and they gradually i started modeling and i started figuring other skills and i started challenging traditional psychologist and psychiatrists saying give me a worse patient i'll handle a minute an hour and i took people with lifetime pho you know been in therapy seven years and turned around in an hour and that build my reputation so then i started with athletes and then i started with mother teresa nelson and ella and go chop and you know president clinton had just bearing grew and then along the way i used them the same skills called modeling finding out what is makes the difference in performance around businesses when i started building companies so today you know now i have a hundred and eleven companies we do over seven billion dollars in business across radically different industries and but this is my mission this what i do on a daily basis here my education company is what i value most but that's kind of the journey and i have had lots ups and downs along the way obviously it wasn't like a straight up experience by any stretch it's not a straight line but i've learned hell a lot i've been surrounded by a lot of great people along the way i don't know if you've seen this have you seen this little clip of jim rum talking about you no i had not let's play it alright can you play that clip yeah tony robbins sat in my seminar when he was seventeen seventeen he was on the alps with his parents and he was sleeping in his car and someone got him to come to my seminar age seventeen so you don't you never know who who's in the audience and he worked for me for three and a half years promoting my seminars back then called adventures in achievement three and a half years finally ran one of my offices at age twenty in los angeles tony robbins now he's a big time superstar bigger superstar than i am around the world unbelievable and he mastered all the stuff you know i didn't teach him to fire and all that stuff but that's tony style no he can get by with that i couldn't do that i did say it to him one time tony you gotta do water instead of fire they'll come from all over the world and knowing tony guess what he'll probably try it it gets unbelievable he's unbelievable so what's it like i mean here in your mentor you know somebody who became a friend but but started off as a you were the student he was a teacher in a way does it feel here tell when he was a teacher for sure he taught me the most important things i think the most important thing he taught me what's what i was you know i had all these different fathers and we're always broken so he said change your mindset change it from k i earn twice as much in the same amount of time ten times as much fifty times a hundred times a thousand times yes if you become more valuable so you have to work heart yourself than you do on your job and he said you've gotta understand whatever you do do add more value than anybody else in the marketplace of what you do and that really if it sung to me because i always try to over deliver in anything i did even at that stage of my life and that's been the basis of every company that i built across all these different industries i mean there's no way i who i am without that piece so i'm indebted to jim as my first mentor one of the questions i wanted to ask you is you can't ask steph curry how do you make a jump shot too complicated right i can't ask you how to be a good public speaker but i can't ask you how did you get good because my sense is yes you had some natural gifts however i wanna a bet and you tell me if i'm right or wrong that from the ages of kinda like seventeen when you went to that seminar to maybe twenty five twenty six twenty seven i would bet that you probably got more reps in than anybody else in your field is that i i could be tell me if what i went to work for jim loan the personal development speaker and so you can go out and make two talks maybe three talks in a month where you would go to a real estate office or a stock brokerage or some place where you would do a talk and show them by improving himself they could also improve their income that's usually what they were interested in and so what i did different was i went out and said remember the guy that was number one in the in the the whole company who were about a thousand employees in that company and i went up to him the first day because he was such a jerk to people i mean it's like total jerk and so you know i've always been a kind of protective of the little guy i was a little guy was five one i was protective back then right when i was in high school so i went up to him and i just said you know what i said you're an absolute idiot and that you better remember my name i said because it'll only be a few months before i'll dwarf few and i said i'll tell you why you're lazy you do three talks a month i'm gonna do three talks a day so i didn't matter i'm as good as you were i'm gonna destroy you right and i did i book myself to every kind of group you can imagine but yes you know if you know i i'm fortunate have to own a piece of the golden state warriors and i've coached the team and i i haven't been there this year again i've i'm a chance but they need it but stuff is a perfect example of what you're describing because people don't know the greatest three sport shooter in the league when he was you know in high school he was really good he the dad trained him continuously his dad was an nba player but his dad at one point he's the best player in the league though we gotta change your jump shots we begin a jump shots we gotta change it he started too well you'll never make the nba and so he made him have to do this new form of jump shot and he became terrible because you're terrible where you try to do something new but he wouldn't let him play competitively until he could shoot well in this way and then now he's still does that shoots you know five hundred shots a day to give an idea thirty five hundred shots a week they about it fourteen thousand shots a month hundred and sixty eight thousand shots here year these are practice shots so he's been in the fifteen years he's done two point five two million shots in practice in his entire career only taken fifteen thousand shots and he's made three thousand three players and he's the greatest in history less than one tenth of one percent of his shots have actually shown up at a game so i always tell people you were rewarded in public for what you practice in private i think that's an amazing strategy is that is that your method to kinda learning in general how do you think about that i think of learning at two levels i think of learning is immersion the reason i do twelve hours a day for three or four days in a row when most people wouldn't sit for a three hour movie someone spent three hundred a million dollars to make i can do it because i know how to engage people in all their senses in other words how much is a long time some people say ten minutes some people say ten years right but really a long time is when you're not enjoying yourself you know a minute can feel like eternity if you're in maine but if you're enjoying yourself time flies and so my whole mindset was i got immerse people because that's how we learn if you learn a language and you learn a little bit at a time in high school in college most people we don't speak the language but if i took you to italy and dropped you rome itself pick up in ninety days with no teacher you're gonna speak italian by the time i pick you up because of the immersion so i like to immerse myself but immerse myself with someone who is the best in the world with something someone who's already done it not somebody who's teaching me intellectually i go into university where somebody understands it but has never done it i wanted to model the very best in the world so i i would go interview with that i'd go to work for people in the very early days as a jan so i could get around them so i could learn how they think and what they do gradually i got to the point where i had these skills and so i could help people and so i'd help them but i'd also learned from them everybody i've ever coached to calls me a coach i'm no dummy i learned from them and so some of my dear friends in the world when people started as coaching like mark ben off of salesforce he came like seminar i like four times in a row it's the big as i and he stands out and on the fourth when he came up introduced himself and said you know mark ben off and you've convinced me to leave oracle i'm gonna start my own company else called salesforce dot com and want you go on the journey with me i'll forget he said to me and said we're gonna do a we're gonna change business around the world and i promise you we'll do a hundred million dollars in business and now he's doing thirty five billion right company's worth so it's like he's about out in sixteen years and know the growth has been unbelievable so marx as i'm his coach yeah i've learned as much from mark or more than he's learned for me standing with peter gilbert you know peter and i partners the gold state warriors the la dodgers you know we both invest and started with the les football club he's got fifty two academy award nominations he's you know he's the one the most brilliant beings that i know so i learned from him so all the people that i've coached over the years i've learned from and i've tried to do it through immersion the more you're can immerse yourself where you're thinking breathing doing something eighteen twenty hours a day the faster you're gonna learn so that's how i go about it what's something you learned from peter because he's a fascinating guy that i think most people don't you know of his work you don't know him necessarily he's not super out there publicly talking all the time and trying to share knowledge do you have any good peter gru stories or or lessons learned you've had now that you partner with him on some things how he thinks the most viable principles i learned from him him and a at a friend of his is when we became friends at one stage you know i said changed my life i wanted do some do some more things with you and he had a small group of men about eight to ten that had been getting together twice a year sometimes three times a year they go all these amazing trips and they just brainstorm her but everybody there was the master of their universe right so it'd be like pat riley you know was at the time you know the winning coach and nba basketball you'd have the richest man in canada like this amazing news who and so he invited me to come on this trip with him and he said look we've never brought anybody in before you're eighteen years younger than just about everybody here but you have so much down i convince the guys let you come on the trip and if they like you maybe you come part of the group and come on a regular basis now this is i'm just starting my business i'm early on in my career thirty thirty one years old and i'm in place where he wants me to go off on this twelve day triple i couldn't leave my business for twelve days in those days i was a business operator i was an owner like i am today so i had to gone on the trip and on the trip though it was such a push i didn't wanna miss it i did it i was so stressed out because i felt i didn't belong there so he didn't have this conversation about what i wanna do with my life and then he said well let me tell you the most important principle to get you there he said proximity is power and he and peter bowl started nodding and saying this is what makes everything work and i said what do you mean proximity power what do you mean by that he said to me at the time you know how many investment bankers do you know i said no i don't know maybe a dozen he goes how do you spend time where they i said not because that's a huge mistake you must go spend time with them because as you spend time they will think of you and they will come up with deals that will help you generate the economics you wanna generate if you wanna run for office or do something of that nature and i said okay and so i started doing it i felt really uncomfortable and then i saw him again and he really gave me stuff and so that i did it deliberately ongoing for a year and a half i go meet people i i'm not i'm not a network per s because i felt like i i don't know i'm not asking for something and i don't know what i can do for that i tried to always be a give and but nothing came out i made some good friendships and so forth no business came out of one day i got a phone call that led to a fifty million dollar deal for me and then another day about a year later converted back into making it in one single day four hundred million dollars for taking a company public so i always tell people if you think about important principles one of the most important online from peter and his friends was you've gotta get in the environment where the best people in the world are on a regular basis and add value and then things will start to happen and nothing accelerates more than that other than your own skills and develop one of the things i got from being proximity with you at your events immersion going there for four days and and and really soaking it all in was when you came on stage there was an energy shift every and then you you mentioned mark ben off i know you've talked at the salesforce conference and i watched the video and he he said something great he goes the next guy who's coming out here he doesn't cut be salesforce is like you know a bunch of sales reps in the audience that was white collar crew they're all sitting down they've been at a thing all day he says he doesn't come out to a cold room hey gus so if you want if tony's gonna come out here we better one right now and immediately everybody raised their standard of how they were gonna show up for you and you came out and you had a certain energy with you i sold that and i started using that i said i i don't come out to cold rooms anymore i raised my own standard in that way that's great but i it was not just in the work context because even though i went to your event because i wanted to be more successful and more ambitious whatever and i had these goals i wanted to have you know ten million dollars by the time i was thirty and then you know today it's like our companies this year we'll do fifty million dollars in revenue races it's it's it's continued to grow but the thing i took away the most wasn't any of the work stuff it was how you show up at home you had this thing that i want you to talk about called the honey home energy i've been doing this now for like eight straight years since i i went to your event people don't know this explain what coming home with the home around about that yeah that's it's just really simple it's just i remember my father to come home my fourth father especially when the door closed there just paused and we waited to see what kind of state he was gonna be in and you could tell if he was an unhappy state you wanna kind of avoid the environment or if he'd say monkey guru you say spray monkey guru made no sense but had so much enthusiasm excitement in his voice that we knew one was a good day so i bought when i come home i wanna make a difference so my wife and i have this little thing that we do is i come home honey i'm all and then we look for each other and we run towards each other and he just hug each other and kiss but it's a it's a beautiful ritual that we've know we've been together twenty four years and we still have this alive and passion for each other because we still put ourselves in those high energy states it's easy because of being worn down by work or environments or kids or some of your family's ill or financial pressure in your business let's say to like your state drop and then when you're around your partner that's what they experience all the time and then their states low and then you're both filtering wife through that so i think it's really important just like if you're gonna get up and be a perform at a peaks they you're gonna produce peak results you're gotta be in a peak state you gotta train yourself to do it at all and then after a while it's not phony it's just like if you see an athlete they have muscle you know why have the muscle because they work out regularly well when you push yourself into a great state regularly it becomes your standard and it becomes how you feel all the time you kinda wire yourself for that it's not say you don't have down times or frustrating times or sad times or whatever or have all those things but they're not the majority of the time and if they happen you can snap out of it fast because you know how to ram got a huge part of what i try to teach people is that you don't have to accept how you feel and people all time say i don't feel like it well if if i waited till i felt like it i wouldn't do ninety percent of stuff i've done in my life i've learned aaron and meet myself feel like it because if you don't do that you're you're not gonna accomplish or achieve or enjoy your life at the level that you deserve and probably desire right you said something about the ninety seconds of suffering can you explain this concept because i stole this i stole this like it's oceans eleven and i came into i stole this framework from you and i have been using it since why do you're stole that's thing a stealth stealing life is too short to suffer i i'm not gonna suffer i know how to change my state but i wanna create a rule that with ninety seconds if i start to suffer i'm gonna snap out of it now don't let me wrong it doesn't mean you don't get angry or frustrated or pissed off or worried he those things i can have all those feelings but if you train yourself to snap out of it ninety seconds and by the in the beginning no problem ninety seconds and easy things but then life gives you some big tests right you because someone feels more like ninety days might sentence but you get it's like any skill like like shooting in the basket you do it again and again and again you get better and better and better and it's changed my life because i gonna what's going on i can still find the beauty in that and in a beautiful state of mind you'll come up with the answer is much quicker than a pissed off stay or a fearful state or a lousy state plus it gives a gift to everybody else who wants to me around somebody's in a crappy state right think about it like this you know if you have a if you have cable or you have satellite and you turn the channel there are certain channels where it's all comedy other otherwise all drama ones it's all horror right other words it's you know romance well the channel changes your body because if you look at the greatest athletes in the world tom brady you know locally here in florida you know we have a group that's won the stanley cup over and over gun the tampa bay lightning and they're famous for coming from behind in winning so the the same group did tests on them before they ever worked with me and they discovered there's a biochemistry of what they called championship biochemistry it's where these people like tom down by ten points and it's the fourth quarter of the super bowl and he comes back to the way i mean how he has this huge surge of testosterone which gives you total focus and drive it also makes you remember everything it's like if i asked you where you were at nine eleven everybody remembers the moment i ask you where eight eleven no knows where they were right because you don't have that surge of testosterone the energy but we usually will testosterone his mass by cortisol which is a stress hormone but in this case their cortisol drops through the floor so all they get is pure focus and drive that doesn't guarantee you're gonna succeed but increases your chances is about tenfold fold every time i get on stage i develop that biochemistry love it and i have so many more questions but i also i feel like your p team i feel like there's a red dot that's gonna come on me if i don't talk about your books so i wanna ask you a question about this so i read the advanced copy of your book so the holy grail of investing it's the third of these kinda like money related books that you've been doing which has been fun because i like the business side that's obviously where i kinda nerd out yeah tell the story about the guy you you know who i think it's a billionaire who who bought millions of nichols and why this guy bought millions of nichols i think this this was so fun and you gotta tell let me let me give people a little background so i've written three books on finance i i started back in twenty thirteen because after the two thousand eight dropout i've been working with paul tudor jones one of the top ten financial traders in the history of the world i've coached him for twenty four years he hasn't lost money during that time i've learned a lot but when i saw that the way we dealt with two thousand eight was we instead of punishing the people that almost destroyed the system we gave them more of a money just blew my mind and so i i thought i can't change everything but i have access so i decided to write a book where you interview fifty of the smartest financial investors in the world the most successful all self made billionaires nobody walk keith sperm club they didn't inherited it they created it you know ray out a carl icon warren buffett paul tudor jumped all of them so i was interviewing a gentleman that took thirty million dollars and turned it in at two billion dollars in two thousand eight two thousand nine the worst economic time and and i i asked him said how'd to do this and he went asymmetrical reward i've heard that from every great investor i said okay i understand what that means but how'd would you do it and yeah he did it was he saw the in the mortgages and everybody thought these mortgage were gonna hold up and it real estate was gonna grow forever and he knew that wasn't true and he bet against it with unique tools so he literally he could be wrong thirteen times and still make money so that's how he turned that money around and made the greatest return in this about period of time so i asked him i said his name kyle bass mister kyle i said how would you explain this to like someone's was un and how would you explain it to your kids he toy i can't believe you said that i just recently asked myself the same question so i want my kids to understand this principle because that's what it'll make him wealthy and he said so i fought how can i do this he said for six months i kept asking the question where can i find an investment that is so asymmetrical there's no downside and there's huge upside immediately now most people say you're an idiot to even ask that question there's no such investment right no risk reward and he goes no he goes smart people ask questions nobody else asked i kept asking you and i finally came up the answer nichols i said nichols goes yes he goes here's how it works nickel to make a nickel cost eleven cents that's how screwed up our government is and he said and he said so years ago pennies used to have copper that's almost no copper you know those pennies are what two cents he said the reason is because the copper values is there but also now they're so unique right he said so i thought nichols the loves blood worse the less than five cents i wanna buy as many nickel as i can because he said the meltdown down value alone will give me thirty percent return on day one thirty percent i'd like investment when you can't lose money and you're guaranteed at least thirty percent i said yeah but i've seen the rules you can't melt money anymore he goes yes i know that's what they say he said but i i don't even have to melt tony the same may have to pennies is what happen to nichols he said i can't do eleven cent five cent nichols forever once it changes the value of these original nickel is gonna be great so he went to the fed and asked how many nickel he could buy or i think of the number was millions of nickel he was truckload and nickel he has kids unload them and put them in he said if i could push a button you can convert my entire assets to nichols i do it tomorrow i can't ever lose money and i have up at least thirty percent so that's a reward another good example is my friend richard branson and if you know sir richard now as they call it it richard's is a fun guy he's like look he'll he'll take risk with his life he'll like get in a balloon go go a spaceship he's like the oldest twenty one year old in that way that guy that guy's just having fun not when it comes to investing when it comes to investing he's like what's the downside how do protect against the downside that's why it's so successful so when he was gonna take on british airways with you know building his own airlines think of the expense and the risk of buying boeing jacks a hundred and fifty two hundred fifty jets so he negotiated for a year with boeing till he finally got the degree that he'd buy all these jets but a year from now if he was not able to be profitable in business or stay in the business he could return all the jets with no credit loss no cost to him whatsoever so he had zero downside only upside that's how these guys play and then the fourth one is diversification and when i went through those and saw them with everybody what triggered this latest book the reason i cited to write this final book was i saw it wait a second the most successful people have a different asset allocation they're getting much more asymmetrical risk reward and i also move my conversations is with ray dal learned a principal i asked right twelve thirteen years ago we first became friends i said you know i i prepared for like eleven hours from my interview with him was supposed to be thirty minutes and with three and a half hours because he got into it and me was great and we became friends and i asked him one question i asked him was okay adam know all things we talked about is there one principal about all others that would be the most important investment principle that would make somebody wealthy if they practice it you sorry i have wrestled with that for more than a decade and i can tell you what it is he goes i call it the holy grail of investing which is why that that's what dialogue his book it's really rare it's not me right and i said well i'd lean forward what is it he said tony in order for people to get what they want financial freedom they've got a compound right well in order to get higher rates of return you gotta take bigger risks which then could cost you getting to the goal that's why i asked said location and finding that balance what's right for you is so important he said but i discovered something mathematically if you can find eight to twelve un correlated investments he said you could reduce your risk by eighty percent and make a slight increase in your upside he said you're eliminating eighty percent of the risk was telling that is the most important thing that's out there and people don't know this but now it's for your audience i'm sure they understand in case they don't if you think about correlated versus non correlated stocks and bonds would be an example right what economy is going great people want the growth that comes in stocks whereas thoughts going go great may expect the bonds are gonna get them through it right they're not necessarily correlated so i wrote down the principle i started looking to try to find things that are not correlated it's rough in the world where today so much has tied together in the public markets and so sure enough as i started doing us looking around i came across an interesting statistic that blew my mind and here's what it is in the last thirty five years every stock market in the world has produced a smaller return than private equity average private equity at that same time so i'll give you an example most people know the s and p five hundred the index of the top five hundred companies in stock market and if you invested in the s and p over the last thirty five years you had an average of a nine point two percent compounded return which is amazing you you're at five percent you're doubling your money every fourteen and a half years if you're you know nine percent it's every years it's big jump but if you're an average private equity not the people i interview this book people i interview this book are the thirteen biggest in the world so they have like twenty percent or more compounded for decades one of them in this book is thirty seven percent compounded for twenty six straight years it's unbelievable right so when you're compounding about it goes crazy but the average is fourteen point two per year so understand this you're compounding fifty percent greater every single year compounded so what does that mean if you put a million dollars in the s and p five hundred thirty five years ago and forgot about it it's worth twenty six million dollars today it's unbelievable but if you put a million dollars in the average not these guys and the average private equity fourteen point two you have a hundred and thirty nine million dollars in the same money in the same amount of time so i was like whoa now what are the ultra high net with people at forty so instead of their assets and private equity in private real estate so i started digging into that area and that's what this book was all about yeah i really like it's a great chart we should throw up it said what was the lowest five year returns by asset class lowest five years so like how bad can the bad get because everybody tells me about the good nobody says about bad usually and i love this one because private credit was the only one that had a positive return in its lowest five years in the last thirty twenty years or something like that so it was it was cool to see these different asset classes that most people don't have the knowledge of or the access to and i think that's the the premise of the book so who are the people what's the largest number of billionaires there and most people think it's stack and it's not and then they think it's real estate it's not it's financial services but it's not hedge funds and it's not vc funds some vc funds been almost i very small it's private equity because they have the money for five years so when the market goes down they're gonna have to sell they buy when the market goes up they sell they have the room to play right to get things done and they're not just trying to buy something with the right tommy they're buying a company and making it better bringing new marketing bringing in a new ceo bringing in a new systems and building up and then selling it private or taking a public so they have a lot more flexibility and they're the they're the masters of the universe so i was like okay let's see what they're doing and then my friend i said i'm getting into some of these private equity but the very best are like you know going to a club and you're you got plenty of money in your outside if you're not good looking you don't know everybody you're not getting in that club and don't which money you have right it's very similar like you know buying a ferrari at any ferrari yes but the newest hot s sp three you know it cost four million bucks you can't even buy it because they're all gone already by collectors buy them before they even come out well it's very similar for the best people in private equity that's saying i've batting a few because of my name and some relationships but the amount i'm getting is too small and it's just tony goes seven i'll tell you a little secret i'll tell you where i put the majority of my money and this guy very very wealthy the very successful so i'm leaning in and he goes there's this bourbon in houston texas i just houston texas i he's gonna say singapore london know your york connecticut right goes yeah they're off the beaten bath they're the best of this they have found a way they're the biggest in the world right now one of the three biggest and they said they found a way well you don't have to buy into the fund where you can buy into the company and own a piece of the company and you own all their funds now if you know these funds work they make two percent on your money even they tied it up for five years and you're willing tied it up because the greater returns right they make two percent money if they don't make anything every year so they have a built in income that's great and then they get twenty percent of the upside if they make you a bunch of money they get twenty percent of that and it's not uncommon for them gonna go from a billion to two billion and five years so they make a hundred million in fees in those five years and they make another twenty percent of a billion i like they make three hundred million dollars and a billion dollar investment that's why the wealthiest people in the world like i got how to do this so i met with these guys in houston i became a client and then i eventually invested with them i'm partner with them and i was like man we gotta get this out but nobody could take advantage of it now they can so as a result we put it out there so you can imagine i own house sixty five of the largest private equity firms i own a piece of them as a partner in every fund that they have so and i'm not there working every day till two in the morning like they on those pieces the other one way i'll tell you about is yeah you read the books so you know is sports i always wanna own a sports team i was rear totally poor you wanted to be a baseball player right that's right you gotta go memory i i used to go to dodge stadium of every once in a railroad moon way off from the deep far seats and right feel the cheapest hit you goodbye and i would i bled dodge blue but on a piece of the dodgers but to get to that point the first team i was able to make a purchase of and be a partner in was the c football club the soccer team there we built stadium i got to help design and it was fun and it got to it my friend peter gerber is just a genius but the amount of money time and energy and the amount of like microscope in your bum that they do to qualify you is mind boggling right to do it so but now in all these sports teams i even have competing teams because a rule was changed three years ago and this is amazing only a few firms been able to do it and the rule allows you to buy a small sliver of teens and why would you want a sports team because they're not correlated to the stock market in inflationary times sports teams do well they've done extremely well they raise the price the odd dog people pay it doesn't matter and they used to be just putting butts and seats but it's not too i'll give you an example you know this if you in the book my partner peter guru bought the dodgers with the group of people magic johnson of all group people i'm part of it now too and when they bought it they paid two billion dollars for the fur everybody's freaking out right i remember the news people are like this is a crazy guy because no wanna paid more than you'd heard million for a sports team and most people believe the dodgers worth the billionaire but not too billion so i went to peter is like i know you're not dumb i know the smartest guy know and so you must know something no one else knows if we're gonna do this tell me goes tony you know i like making movies with cliff he said i wanna make you way three days because i'm making an announcement when you're the else come over blah lo party to get it they made the announcement he sold the local tv rights just the local tv rights for seven billion made five billion on the spot so why because sports teams now are media enterprises of a hundred best shows most watched shows last year in ninety two were sporting events and they'll watch the ads because everybody's cord cutting everywhere else and going and watching things you know streaming sports the only thing live you wanna see in real time for it to dev value for you and they can do those ads so and they buy real estate today they they are unbelievable organizations so now i'm a part of the dodgers of the warriors the red sox the pittsburgh penguins i mean i go on and on i have the ownership benefits but i also have something that's not correlated so it's one leg eight to twelve plus on top of that you share in the revenues of every other team's media in other words it's equal share if you're a small team or a big share you'll keep your local media that you get to sell locally so the income streams are amazing let give an example michael jordan we actually bought it michael jordan bought the charlotte for two hundred and seventy five million controlling interest a twelve and a half years ago he just sold us were one of the buyers a group of buyers for three billion that's his return on that time period it in the last ten years if you take the nba the the major league baseball soccer and hockey those four together they've averaged between them eighteen percent compounded during that time versus eleven percent they're in the s and p five hundred so just you're only doubling your return having fun having something you're part of that's really cool and people can have an experience that they once dreamed about without having billions of dollars and go through all the hell of it so there's so many opportunities like this versus and people can get it get the book and set the the holy grail of investing dot com i think there's like a free chapter so you can go down listen there's a free audio chapter you can listen to and then you can pre the book it comes out a few weeks i know we're over but i gotta ask you for one thing shit the one thing is we talked a lot about money and making in all that stuff one of the things that pulled away from you was about giving and i think you know would when i was at the event you were talking about oh i've given i give this many meals every year i think now it's like a billion meal some insane number of because you know you remembered what it was like not a food and a part of me was like i'm gonna do that something i should do that i should it myself again and i should do that in the future what i you know when i'm rich i'm gonna do that too and i think this is probably a pretty common thing easy for him he's rich what does it mean what is matter to him to write a five million dollar check right it was just five million until what right fair enough until you told a story about giving early on and give yeah i and i i'm i just want to tell those one story because i think for most people if they made it to this part this will make a bigger difference in their lives than anything else that you tell them because i know it did for me you told the story about going to the salad bar oh going to a salad bar you're twenty four years old you're broke and you had a giving moment that sort shifted you would you please just tell that one because i think giving is not something you gotta wait till you're rich to do which is i think the common misconception i tell you people if you won't give a dime out of a dollar you're not gonna give ten million out of a hundred million or you know hundred million out of a billion they don't kid yourself right and also the value of giving transforms you on i'm scarcity but the background on it is i was working for jim on this personal development speaker and i really did well and then i did poorly for a while and i was really frustrated i was working hard i wasn't getting the return i was totally broke share you're in business she make some mistakes and i found myself totally broke again and i'm in this four square foot bachelor apartment in venice california feeling sorry for myself and watching luke and laurel i'm general hospital it was just terrible and i'm down on my final you know nineteen twenty twenty one twenty two dollars i know it wasn't some change i haven't paid my rent and i gotta figure out what to do i want to eat so my focus was okay i'm gonna go to this all he can eat salad bar taco bar and i'm gonna load up for the winter and you know spend five bucks in the you know and then i didn't drive there because it was only about three miles but i couldn't pay three bucks or parking to it was just i couldn't do that so and long story short i get to the place it's on the water and marina del rey why went there there's boats going by and i i can't i don't want pot to pee in right but i'm visualizing and then my yeah my and had stack of food this high and then the i could see the front door because where i was sitting and the fed door opens in this beautiful and walks in she just absolute gorgeous just i couldn't help a look then way to see if there was a guy with him as if i had any shot at this right and she had a guy with him unfortunately and he was about three feet tall and he had a little vested suit on little tie and you know he opens the door for her and he pulled out the chair for her and i was just i was me and i was moved and i got emotional i don't know why i don't know if it's staying in my own mom i don't know what it was at the time but anyway the bottom line is where i was done eating i went dated it and i was five ninety five or something like that and i have the rest of money in my pocket i had no plan for this and i was walking out the door there's that whole boy with his mom and her backs to me so i didn't talk to her i wasn't going to i just went up to him because i was so moved and i just said hey i said my name's tony me what's your name and i can't remember his name anymore as you know jaw or whatever it was and he because that i said johnny i said you are a class at i said i just want you to know i have so much respect i saw you hold the door for your lady i saw you pulled the chair out for her you're so present with her and i said take a lunch like this he goes well she's my mom and i said it's even more impressive he goes i can't take her to lunch because you know i'm just eleven and as i said yes you can i had no plan for my pocket took all the money on the world nineteen dollars whatever left over and poof dumped it on him what the change in everything right in front of him and his eyes got bigger and garbage can covers and he goes i can't take that i said jerry can he said how come i say because i'm bigger than you are and then i smiled and he laughed and i didn't even look at the woman i didn't do for acknowledgment i just walked out that door to get my car and the i didn't up my car there and just i walked so i i i looked like a stupid white guy skipping my ass i'm sure all the way hold i mean i was high as like tight and i had no money and i got home and i was still cool about it and i was full grades so much and i woke up the next morning with no plan on no idea no nothing and no money and it's like i mean no money not a dollar and no one to call to get money from and there was a guy i loaned a thousand dollars to about two and half years before when i really didn't have but he needed it more than i did i loaded to him so i've been for months and calling and setting you know regular mail to him here because he wasn't answering the phone and he wasn't an email in those days and in that morning i get my mail and no call no response that more i get my mail there's all the bills and there's a handwritten note night i open the note and it's from the guy apologizing to me and telling me that he was so sorry i was there friend when he really needed it and he had locked in there for me and he had put in you know an extra two hundred dollars for interest and so forth was twelve hundred dollars twelve hundred dollars and more money than i could live on that for a month in those days right and i just started crying uncontrollably because like you know why i crying this is beautiful this is beautiful you know i was like and then i realized wow you know when i had nothing i gave everything and here this is what does this mean i said i don't know what means but i'm gonna decide it means because i didn't give to get and i didn't give what was easy that's why i'm receiving and it's like that day on i can tell you i've had ups and downs i had so many companies the early days i a couple companies on the verge of bankruptcy and they didn't go back bankrupt thank god i hung on and made it through it but i never felt that scarcity i never felt that scarcity again since that day because if you get to that point your brain realizes there's more than enough when you can give when you feel like there's nothing there that's that's what transforms you what i interviewed sir john temple who's the first billionaire investor started with nothing he said to me that the secret to wealth is gratitude right because man how much money do you have if you're not grateful you're not rich but then he said also i've never met anybody that tit for at least ten years who didn't become wealthy you said hi it didn't have to be a church it's just taking ten percent of what you're earning and give me away and i'm proud to say i've giving away seventeen percent and i've done quite well but i did it when i had nothing and it's it's there i wanna play one more seat with you the audience though and that is if they'd like to have an experience you know they can't come for the you know three or four days yet for an event but they like have experience since covid started four years ago everybody trapped at home and i was doing stadiums you know and they started shutting down the stadium and still like about a hundred people in this stadium so i decided i'd i build a studio and i built these twenty foot ice you know walls point six seven resolution i could see everything and i went to the guys you know who built zoom and i said look you know i need you to help me get to twenty thousand thirty thousand people not a thousand i built software so the people couldn't instead clapping could shake their phone it would send electric signal of one person or nothing when twenty thousand people do it it's like thunder and it allowed me to literally explode in the number of people i reached so now i do a free seminar once a year for three days it's coming up january twenty fifth through twenty seven just been about a week and a half if you wanna go there's zero charge it's not partially free it's totally free and it's about two and half hours three hours a day of immersion for three days in a row and is really designed to help you get a plan and make the changes necessary in your energy and your emotions and your business and your finances and your career and we just we put the most we can in those three days and create huge momentum and last year we had over a million people again from a hundred and ninety five countries in the world and then you're part of a community of people helping each other so if anyone like to go you're welcome to you can do it from your home or you're office you can bring friends or family again there's no charge you just go to what is that what is the highlight it's the it's the time to rise summit dot com time to rise summit dot com and starts january twenty fifth through the twenty seventh that i'd love to serve you guys and go deeper amazing tony i don't know if you know this but at that event when you told some of these stories i on the moment at that moment i was like you know what i'm gonna start giving and i the the idea i came up with you know this was a pretty crazy experience i had i just got look at lots of black friday tickets i i i don't know how i stumbled into this but this was cool and i've i'm a different guy right now and i've decided i must start giving i what i did was i said alright next year i'm gonna send one person to this somebody gonna give somebody an experience go to w and i was like every year i'm gonna give more people than the year i've sent forty four people to year events you know my my mom my dad i don't peep anybody anybody who you know other entrepreneurs who i thought you know might like it yes and yeah they responded to as this result how do they react have these events fifteen percent of people are like me they're like they come back and it's like did somebody plug you in you're like electric now what happened to you so fifteen percent of people they're a new person never look back i would say seventy percent of people were like that was a great experience i loved it and they're like you know but they they didn't fully get like you know for me it was like a a full transformation this being totally honest so seventy percent people saw the paul experience yeah exactly and then i was say fifty percent of people were like what the hell is this you know this was i don't know what this is and they often you know a lot of people by send are like successful tech people and they come in almost like they wanna be the smart guy and the reddit comments almost and they're like you know they're so worried about he said this and is that the real it's a fifty four percent or fifty one percent i'm like you're missing the point trying to be so you know you're you're it's being so smart you're being dumb right now and so people have you know everybody has their own experience i think it's you know what i tell them is just go have the experience right go go decide for yourself so you know for people who listen to this i'm gonna put a thing in the in the description i wanna send people actually listen to the podcast i've been sending people i know but now you know this year i'll send i wanna double it so i think i've sent forty four people lifetime wanna i just send another forty four people this year so i'll put a thing in the comments for people who go to the four day up that's they're kinda like start our event that's the one i've been doing a couple times and i think you really alright since you're gonna do that i'll match it so we'll make it way eighty in total you do your forty and i'll give you forty to match it since we'll we'll we'll we'll invest in these people's lives together amazing thanks so much tony i really appreciate it hey talk with you and congratulations on one you bill yes like likewise i feel like i could rude where i know i could be what i want to from at all in it like a days off on a road less travel a looking bag have