he’s a Canadian businessman investor entrepreneur journalist and television
entrepreneur journalist and television
entrepreneur journalist and television personality he’s the co-founder and
personality he’s the co-founder and
personality he’s the co-founder and chairman of O’Leary funds and the
chairman of O’Leary funds and the
chairman of O’Leary funds and the co-founder of soft key his estimated net
co-founder of soft key his estimated net
co-founder of soft key his estimated net worth is four hundred million dollars
worth is four hundred million dollars
worth is four hundred million dollars he’s kevin O’Leary and here his top ten
he’s kevin O’Leary and here his top ten
he’s kevin O’Leary and here his top ten rules for success I tried working for
rules for success I tried working for
rules for success I tried working for somebody when it’s very young and they
somebody when it’s very young and they
somebody when it’s very young and they fired me and I scream right and it was a
fired me and I scream right and it was a
fired me and I scream right and it was a very very profoundly affected me
very very profoundly affected me
very very profoundly affected me profoundly and I just said I’m never
profoundly and I just said I’m never
profoundly and I just said I’m never working for anybody again it doesn’t
working for anybody again it doesn’t
working for anybody again it doesn’t mean your life is easier in fact you
mean your life is easier in fact you
mean your life is easier in fact you give up you have to have a lot of
give up you have to have a lot of
give up you have to have a lot of sacrifices in on the road to success and
sacrifices in on the road to success and
sacrifices in on the road to success and a lot of failures along the way I just
a lot of failures along the way I just
a lot of failures along the way I just find it a more interesting way to spend
find it a more interesting way to spend
find it a more interesting way to spend your time and I really believe in this
your time and I really believe in this
your time and I really believe in this concept of money buys freedom and so you
concept of money buys freedom and so you
concept of money buys freedom and so you know I think it’s a very noble pursuit
know I think it’s a very noble pursuit
know I think it’s a very noble pursuit for some percentage of the people out
for some percentage of the people out
for some percentage of the people out there but not for everybody because you
there but not for everybody because you
there but not for everybody because you have to sacrifice a lot for the period
have to sacrifice a lot for the period
have to sacrifice a lot for the period that you’re working on your business and
that you’re working on your business and
that you’re working on your business and not everybody wants to do that and I
not everybody wants to do that and I
not everybody wants to do that and I think you find that in your own you
think you find that in your own you
think you find that in your own you start down that path and if it’s too
start down that path and if it’s too
start down that path and if it’s too much of a sacrifice you revert back to
much of a sacrifice you revert back to
much of a sacrifice you revert back to being an employee which it’s very noble
being an employee which it’s very noble
being an employee which it’s very noble to do that too but it’s not the same
to do that too but it’s not the same
to do that too but it’s not the same thing it takes a long time to set
thing it takes a long time to set
thing it takes a long time to set yourself free working for somebody else
yourself free working for somebody else
yourself free working for somebody else I was with a bunch of other investors
I was with a bunch of other investors
I was with a bunch of other investors who I respect and they brought me a deal
who I respect and they brought me a deal
who I respect and they brought me a deal and I wanted to be part of it but it
and I wanted to be part of it but it
and I wanted to be part of it but it didn’t feel right
didn’t feel right
didn’t feel right and I wrote millions of dollars on that
and I wrote millions of dollars on that
and I wrote millions of dollars on that one
one
one and it just didn’t feel right and I lost
and it just didn’t feel right and I lost
and it just didn’t feel right and I lost it all within two years
it all within two years
it all within two years so should investors trust our gut dinner
so should investors trust our gut dinner
so should investors trust our gut dinner absolutely and trust you but what about
absolutely and trust you but what about
absolutely and trust you but what about you said earlier don’t be emotional and
you said earlier don’t be emotional and
you said earlier don’t be emotional and sometimes the gut know this this is a
sometimes the gut know this this is a
sometimes the gut know this this is a barometer of risk it’s something an
barometer of risk it’s something an
barometer of risk it’s something an internalized for an investor that says I
internalized for an investor that says I
internalized for an investor that says I don’t feel comfortable it’s not about
don’t feel comfortable it’s not about
don’t feel comfortable it’s not about emotions just don’t write that check
emotions just don’t write that check
emotions just don’t write that check that was recently the first time I
that was recently the first time I
that was recently the first time I didn’t listen to that and I lost
didn’t listen to that and I lost
didn’t listen to that and I lost everything so now my radar is up I
everything so now my radar is up I
everything so now my radar is up I listen to my gut it’s not an emotion
listen to my gut it’s not an emotion
listen to my gut it’s not an emotion it’s an index of risk and you get it as
it’s an index of risk and you get it as
it’s an index of risk and you get it as you age you become a better investor
you age you become a better investor
you age you become a better investor every year if only I could live to 200
every year if only I could live to 200
every year if only I could live to 200 I’d be really good diversification what
I’d be really good diversification what
I’d be really good diversification what I’ve learned that works if you’re an
I’ve learned that works if you’re an
I’ve learned that works if you’re an investor
investor
investor no matter how much money you’ve got
no matter how much money you’ve got
no matter how much money you’ve got whether it’s $5,000 or 500 million
whether it’s $5,000 or 500 million
whether it’s $5,000 or 500 million diversification is what saves you from
diversification is what saves you from
diversification is what saves you from disaster having investments in a wide
disaster having investments in a wide
disaster having investments in a wide range of businesses and sectors there’s
range of businesses and sectors there’s
range of businesses and sectors there’s always something working when something
always something working when something
always something working when something else isn’t so today I can go to bed
else isn’t so today I can go to bed
else isn’t so today I can go to bed tonight knowing that I have one
tonight knowing that I have one
tonight knowing that I have one objective I want to go to bed richer
objective I want to go to bed richer
objective I want to go to bed richer than I woke up and the only way that’s
than I woke up and the only way that’s
than I woke up and the only way that’s going to happen to me is to be invested
going to happen to me is to be invested
going to happen to me is to be invested in a lot of different things because
in a lot of different things because
in a lot of different things because every day one thing works well three
every day one thing works well three
every day one thing works well three others don’t but sometimes that’s why
others don’t but sometimes that’s why
others don’t but sometimes that’s why you get richer so how does that play out
you get richer so how does that play out
you get richer so how does that play out for the average working woman like
for the average working woman like
for the average working woman like myself does it start with doing an
myself does it start with doing an
myself does it start with doing an investor profile questionnaire and
investor profile questionnaire and
investor profile questionnaire and starting to invest a little bit of your
starting to invest a little bit of your
starting to invest a little bit of your money in a diversified portfolio yes
money in a diversified portfolio yes
money in a diversified portfolio yes that what I find people do is they fall
that what I find people do is they fall
that what I find people do is they fall in love with one idea or one stock or
in love with one idea or one stock or
in love with one idea or one stock or one investment or their sister comes in
one investment or their sister comes in
one investment or their sister comes in and says I want to open a restaurant yes
and says I want to open a restaurant yes
and says I want to open a restaurant yes you should never do that what you should
you should never do that what you should
you should never do that what you should say is whatever money I’ve got I’ll
say is whatever money I’ve got I’ll
say is whatever money I’ve got I’ll never put more than five percent into
never put more than five percent into
never put more than five percent into one idea I’ll never let myself get
one idea I’ll never let myself get
one idea I’ll never let myself get caught up in an idea that ends up being
caught up in an idea that ends up being
caught up in an idea that ends up being so big to me that if it fails I get
so big to me that if it fails I get
so big to me that if it fails I get wiped out this is the key to success no
wiped out this is the key to success no
wiped out this is the key to success no more than five percent of any one idea
more than five percent of any one idea
more than five percent of any one idea and no more than 20% in any one sector
and no more than 20% in any one sector
and no more than 20% in any one sector for example if you love energy stocks
for example if you love energy stocks
for example if you love energy stocks only 20% max if you love gold only 20%
only 20% max if you love gold only 20%
only 20% max if you love gold only 20% max you have to have diversification
max you have to have diversification
max you have to have diversification this is the one thing that will save
this is the one thing that will save
this is the one thing that will save your hiney you should make the
your hiney you should make the
your hiney you should make the assumption when you make an investment
assumption when you make an investment
assumption when you make an investment there’s some probability you’ll lose it
there’s some probability you’ll lose it
there’s some probability you’ll lose it it’ll go to zero and that’s why you need
it’ll go to zero and that’s why you need
it’ll go to zero and that’s why you need to have you know a reserve like a
to have you know a reserve like a
to have you know a reserve like a back-up plan some cash set aside that if
back-up plan some cash set aside that if
back-up plan some cash set aside that if everything blows up you’re okay I find
everything blows up you’re okay I find
everything blows up you’re okay I find it extraordinary when people make their
it extraordinary when people make their
it extraordinary when people make their first you know liquidity event and they
first you know liquidity event and they
first you know liquidity event and they have some capital that they blow it all
have some capital that they blow it all
have some capital that they blow it all again that is the biggest mistake you’ve
again that is the biggest mistake you’ve
again that is the biggest mistake you’ve got to take a nut even if it stays in
got to take a nut even if it stays in
got to take a nut even if it stays in cash or it’s a very very liquid safe
cash or it’s a very very liquid safe
cash or it’s a very very liquid safe security to say that I don’t touch it
security to say that I don’t touch it
security to say that I don’t touch it goes back to what my mother taught me
goes back to what my mother taught me
goes back to what my mother taught me spend the interest never the principal I
spend the interest never the principal I
spend the interest never the principal I mean look you know I make a lot of crazy
mean look you know I make a lot of crazy
mean look you know I make a lot of crazy investments I don’t touch the principal
investments I don’t touch the principal
investments I don’t touch the principal communication skills it turns out our
communication skills it turns out our
communication skills it turns out our power
power
power the ability to actually articulate what
the ability to actually articulate what
the ability to actually articulate what your idea is in a very short period of
your idea is in a very short period of
your idea is in a very short period of time is number one number two and this
time is number one number two and this
time is number one number two and this is far in some ways more complicated to
is far in some ways more complicated to
is far in some ways more complicated to explain it just because you have a good
explain it just because you have a good
explain it just because you have a good idea doesn’t make you mean you’re going
idea doesn’t make you mean you’re going
idea doesn’t make you mean you’re going to make money there’s a difference
to make money there’s a difference
to make money there’s a difference between a good idea and someone who can
between a good idea and someone who can
between a good idea and someone who can execute the business plan so you spend
execute the business plan so you spend
execute the business plan so you spend the next five minutes for presentation
the next five minutes for presentation
the next five minutes for presentation explaining why you’re the right person
explaining why you’re the right person
explaining why you’re the right person to actually execute the plan and this is
to actually execute the plan and this is
to actually execute the plan and this is far more complicated because you get
far more complicated because you get
far more complicated because you get peppered with a whole series of
peppered with a whole series of
peppered with a whole series of questions in any presentation that
questions in any presentation that
questions in any presentation that you’re trying to raise money for whether
you’re trying to raise money for whether
you’re trying to raise money for whether it’s on dragons and shark tank or out
it’s on dragons and shark tank or out
it’s on dragons and shark tank or out somewhere else how much of your own
somewhere else how much of your own
somewhere else how much of your own money have you put into this business I
money have you put into this business I
money have you put into this business I put fifty thousand dollars of my own
put fifty thousand dollars of my own
put fifty thousand dollars of my own money and I’ve been taking a salary out
money and I’ve been taking a salary out
money and I’ve been taking a salary out of the company in a year and a half cry
of the company in a year and a half cry
of the company in a year and a half cry me a river you have to go through that
me a river you have to go through that
me a river you have to go through that gauntlet to prove that you’re the right
gauntlet to prove that you’re the right
gauntlet to prove that you’re the right person or your team are the right people
person or your team are the right people
person or your team are the right people and if those two things come together
and if those two things come together
and if those two things come together then the magic starts that’s when a team
then the magic starts that’s when a team
then the magic starts that’s when a team or person starts to sizzle like an
or person starts to sizzle like an
or person starts to sizzle like an isotope because clearly they become a
isotope because clearly they become a
isotope because clearly they become a leader it’s clear that they’re different
leader it’s clear that they’re different
leader it’s clear that they’re different than everybody else not only can they
than everybody else not only can they
than everybody else not only can they articulate their idea they can actually
articulate their idea they can actually
articulate their idea they can actually convince you that can execute it
convince you that can execute it
convince you that can execute it recently failing business is they make
recently failing business is they make
recently failing business is they make the assumption that whatever and they’re
the assumption that whatever and they’re
the assumption that whatever and they’re equal just the Maineiacs and even when
equal just the Maineiacs and even when
equal just the Maineiacs and even when it starts to fail because of their own
it starts to fail because of their own
it starts to fail because of their own inadequacies
inadequacies
inadequacies they don’t stop themselves and they’ve
they don’t stop themselves and they’ve
they don’t stop themselves and they’ve gone that’s a typical situation so you
gone that’s a typical situation so you
gone that’s a typical situation so you have to look yourself in the mirror this
have to look yourself in the mirror this
have to look yourself in the mirror this is hard to do sometimes and say what am
is hard to do sometimes and say what am
is hard to do sometimes and say what am I really good at and what do I suck it
I really good at and what do I suck it
I really good at and what do I suck it because you don’t want to spend any of
because you don’t want to spend any of
because you don’t want to spend any of your time doing things you’re no good
your time doing things you’re no good
your time doing things you’re no good I’ll give you an example
I’ll give you an example
I’ll give you an example I hate logistics and operations you’re
I hate logistics and operations you’re
I hate logistics and operations you’re going to software company have to make
going to software company have to make
going to software company have to make 10 million discs a month you don’t like
10 million discs a month you don’t like
10 million discs a month you don’t like that you better find a guy
that you better find a guy
that you better find a guy do that and you better making your
do that and you better making your
do that and you better making your partner very early on the process and I
partner very early on the process and I
partner very early on the process and I mean part I mean you give him something
mean part I mean you give him something
mean part I mean you give him something to give equity up to fulfill the
to give equity up to fulfill the
to give equity up to fulfill the weaknesses in your own portfolio that is
weaknesses in your own portfolio that is
weaknesses in your own portfolio that is the key success I have never made any
the key success I have never made any
the key success I have never made any money doing all myself ever so many
money doing all myself ever so many
money doing all myself ever so many businesses started many failed at many
businesses started many failed at many
businesses started many failed at many the only ones I really made money on the
the only ones I really made money on the
the only ones I really made money on the arches where I found people that were
arches where I found people that were
arches where I found people that were good at things that I was good at I
good at things that I was good at I
good at things that I was good at I don’t need in toys I need giving them
don’t need in toys I need giving them
don’t need in toys I need giving them exit of the business so that they have
exit of the business so that they have
exit of the business so that they have the same risks and desires that I have
the same risks and desires that I have
the same risks and desires that I have there’s only two things in business that
there’s only two things in business that
there’s only two things in business that matter
matter
matter one is owning it and the other is being
one is owning it and the other is being
one is owning it and the other is being an employee guess which one you want to
an employee guess which one you want to
an employee guess which one you want to be and I remembered a story and it
be and I remembered a story and it
be and I remembered a story and it really affected me years ago my mother
really affected me years ago my mother
really affected me years ago my mother was born in Montreal worked at a company
was born in Montreal worked at a company
was born in Montreal worked at a company called kiddies togs and she’s to come
called kiddies togs and she’s to come
called kiddies togs and she’s to come home and tell my brother and I because
home and tell my brother and I because
home and tell my brother and I because they pay them every week on Thursday
they pay them every week on Thursday
they pay them every week on Thursday morning she’d always invest a third of
morning she’d always invest a third of
morning she’d always invest a third of her paycheck into bail bonds with
her paycheck into bail bonds with
her paycheck into bail bonds with coupons she’d always say to me boys
coupons she’d always say to me boys
coupons she’d always say to me boys never spend the principle just the
never spend the principle just the
never spend the principle just the interest and never ever ever ever buy a
interest and never ever ever ever buy a
interest and never ever ever ever buy a security that doesn’t pay a dividend and
security that doesn’t pay a dividend and
security that doesn’t pay a dividend and you know back in those days
you know back in those days
you know back in those days stocks paid higher dividends than the
stocks paid higher dividends than the
stocks paid higher dividends than the bonds so example you know Bell Canada
bonds so example you know Bell Canada
bonds so example you know Bell Canada had a 6% yield on its five-year paper
had a 6% yield on its five-year paper
had a 6% yield on its five-year paper and bonds the stock yield at 7 to entice
and bonds the stock yield at 7 to entice
and bonds the stock yield at 7 to entice people to take the risk to own an equity
people to take the risk to own an equity
people to take the risk to own an equity and we got lost somewhere between the
and we got lost somewhere between the
and we got lost somewhere between the 50s and the 60s and 70s and we actually
50s and the 60s and 70s and we actually
50s and the 60s and 70s and we actually thought that it was a good investment to
thought that it was a good investment to
thought that it was a good investment to buy a stock that didn’t pay a dividend
buy a stock that didn’t pay a dividend
buy a stock that didn’t pay a dividend which to me is insane so anyways I I
which to me is insane so anyways I I
which to me is insane so anyways I I wanted to found a firm on that my
wanted to found a firm on that my
wanted to found a firm on that my mother’s basic concept because you know
mother’s basic concept because you know
mother’s basic concept because you know she died a few years ago and I was
she died a few years ago and I was
she died a few years ago and I was executive for her state and I looked at
executive for her state and I looked at
executive for her state and I looked at the portfolio which she never shared
the portfolio which she never shared
the portfolio which she never shared with anybody but 40 years compounded
with anybody but 40 years compounded
with anybody but 40 years compounded dividends and bonds you know 73% of the
dividends and bonds you know 73% of the
dividends and bonds you know 73% of the markets returns of the last 40 years
markets returns of the last 40 years
markets returns of the last 40 years came from dividends not capital
came from dividends not capital
came from dividends not capital appreciation and she knew that
appreciation and she knew that
appreciation and she knew that intuitively so that’s how we built the
intuitively so that’s how we built the
intuitively so that’s how we built the foundation of O’Leary funds we listened
foundation of O’Leary funds we listened
foundation of O’Leary funds we listened to mom we don’t own a single security
to mom we don’t own a single security
to mom we don’t own a single security that doesn’t pay a dividend I will never
that doesn’t pay a dividend I will never
that doesn’t pay a dividend I will never buy a stock in my life that doesn’t pay
buy a stock in my life that doesn’t pay
buy a stock in my life that doesn’t pay a dividend it’s not
a dividend it’s not
a dividend it’s not turning cash to me it’s a speculation
turning cash to me it’s a speculation
turning cash to me it’s a speculation and if a manager can’t send me cash I’m
and if a manager can’t send me cash I’m
and if a manager can’t send me cash I’m not interested
not interested
not interested often your family will come to you your
often your family will come to you your
often your family will come to you your cousin your uncle your sister saying
cousin your uncle your sister saying
cousin your uncle your sister saying please invest in my business
please invest in my business
please invest in my business you’ve got to differentiate between
you’ve got to differentiate between
you’ve got to differentiate between family friends and money you’ve got to
family friends and money you’ve got to
family friends and money you’ve got to be careful that you don’t get yourself
be careful that you don’t get yourself
be careful that you don’t get yourself in a situation where you lose your money
in a situation where you lose your money
in a situation where you lose your money because you got emotionally involved
because you got emotionally involved
because you got emotionally involved that’s a very big piece of advice
that’s a very big piece of advice
that’s a very big piece of advice because I’ve done it the wrong I put
because I’ve done it the wrong I put
because I’ve done it the wrong I put every buddies make mistakes as investor
every buddies make mistakes as investor
every buddies make mistakes as investor that’s one of the ones I made the early
that’s one of the ones I made the early
that’s one of the ones I made the early times I never make again but I tell
times I never make again but I tell
times I never make again but I tell every Canadian entrepreneur I talk to
every Canadian entrepreneur I talk to
every Canadian entrepreneur I talk to and business leader and owner of
and business leader and owner of
and business leader and owner of business any business try and get over
business any business try and get over
business any business try and get over the next five years 30% of your sales
the next five years 30% of your sales
the next five years 30% of your sales outside of North America and Canada is
outside of North America and Canada is
outside of North America and Canada is unique we actually have within the
unique we actually have within the
unique we actually have within the government a port system you can call
government a port system you can call
government a port system you can call the consulate in any country you want to
the consulate in any country you want to
the consulate in any country you want to do business in they’ll return your call
do business in they’ll return your call
do business in they’ll return your call they’ll set up meetings for you I did
they’ll set up meetings for you I did
they’ll set up meetings for you I did this two decades ago and I wanted to
this two decades ago and I wanted to
this two decades ago and I wanted to move the states I called the Canadian
move the states I called the Canadian
move the states I called the Canadian Consulate in Boston you can do that now
Consulate in Boston you can do that now
Consulate in Boston you can do that now in Brazil India China Asia Cambodia
in Brazil India China Asia Cambodia
in Brazil India China Asia Cambodia Thailand and there’s somebody they’ll
Thailand and there’s somebody they’ll
Thailand and there’s somebody they’ll say I care about that Canadian company
say I care about that Canadian company
say I care about that Canadian company I’m going to make calls for them you
I’m going to make calls for them you
I’m going to make calls for them you still got to do the work but the whole
still got to do the work but the whole
still got to do the work but the whole idea is to diversify your sales risk you
idea is to diversify your sales risk you
idea is to diversify your sales risk you diversify your portfolio if you’re just
diversify your portfolio if you’re just
diversify your portfolio if you’re just selling in the u.s. you’re going to be
selling in the u.s. you’re going to be
selling in the u.s. you’re going to be selling to a economy that’s growing at
selling to a economy that’s growing at
selling to a economy that’s growing at sub 3% for the rest of your life so
sub 3% for the rest of your life so
sub 3% for the rest of your life so Oprah as a hairdresser interesting guy
Oprah as a hairdresser interesting guy
Oprah as a hairdresser interesting guy he’s uh his hobby was tea this tea new
he’s uh his hobby was tea this tea new
he’s uh his hobby was tea this tea new drink and he became what’s called a nose
drink and he became what’s called a nose
drink and he became what’s called a nose he had a certain skill to be able to
he had a certain skill to be able to
he had a certain skill to be able to smell salon teez blend them one day he
smell salon teez blend them one day he
smell salon teez blend them one day he gives couple years ago a cup of tea to
gives couple years ago a cup of tea to
gives couple years ago a cup of tea to oprah well he’s doing her hair and she
oprah well he’s doing her hair and she
oprah well he’s doing her hair and she sips it and says his best tea I’ve ever
sips it and says his best tea I’ve ever
sips it and says his best tea I’ve ever had she goes on the show half an hour
had she goes on the show half an hour
had she goes on the show half an hour later and says this tea called Talbott
later and says this tea called Talbott
later and says this tea called Talbott teas
teas
teas is the best tea I’ve ever had he gets
is the best tea I’ve ever had he gets
is the best tea I’ve ever had he gets orders the next day for five hundred
orders the next day for five hundred
orders the next day for five hundred thousand dollars you know the Oprah
thousand dollars you know the Oprah
thousand dollars you know the Oprah effect you’ve heard of it right
effect you’ve heard of it right
effect you’ve heard of it right he can’t finance that so he comes on
he can’t finance that so he comes on
he can’t finance that so he comes on Shark Tank and he’s looking for $250,000
Shark Tank and he’s looking for $250,000
Shark Tank and he’s looking for $250,000 and I agreed to buy 35% of the company
and I agreed to buy 35% of the company
and I agreed to buy 35% of the company for that I love tea it’s so simple gets
for that I love tea it’s so simple gets
for that I love tea it’s so simple gets on Oprah five hundred thousand orders
on Oprah five hundred thousand orders
on Oprah five hundred thousand orders and even
and even
and even Marcus all kinds of individuals ordering
Marcus all kinds of individuals ordering
Marcus all kinds of individuals ordering on the internet simple tea orders cash
on the internet simple tea orders cash
on the internet simple tea orders cash flow right while we’re in the middle of
flow right while we’re in the middle of
flow right while we’re in the middle of doing the deal the show airs and Gemma
doing the deal the show airs and Gemma
doing the deal the show airs and Gemma juice a public company says we want to
juice a public company says we want to
juice a public company says we want to be in the tea business we love this
be in the tea business we love this
be in the tea business we love this story we love the brand I want to buy
story we love the brand I want to buy
story we love the brand I want to buy the company I haven’t even written a
the company I haven’t even written a
the company I haven’t even written a check yet and bang the deals done Wow
check yet and bang the deals done Wow
check yet and bang the deals done Wow yes Wow that’s the kind of deal I like
yes Wow that’s the kind of deal I like
yes Wow that’s the kind of deal I like because it was simple it’s not a
because it was simple it’s not a
because it was simple it’s not a complicated text story it’s tea tea with
complicated text story it’s tea tea with
complicated text story it’s tea tea with a brand now you go into a Jamba Juice
a brand now you go into a Jamba Juice
a brand now you go into a Jamba Juice anywhere North America that’s my Talbott
anywhere North America that’s my Talbott
anywhere North America that’s my Talbott teas that’s right
teas that’s right
teas that’s right isn’t that wonderful is wonderful that’s
isn’t that wonderful is wonderful that’s
isn’t that wonderful is wonderful that’s why you are well that’s why I am is but
why you are well that’s why I am is but
why you are well that’s why I am is but you know I look at it this way the
you know I look at it this way the
you know I look at it this way the simple deals are the ones you make money
simple deals are the ones you make money
simple deals are the ones you make money on so I take that cash back Irie deploy
on so I take that cash back Irie deploy
on so I take that cash back Irie deploy it so I like simple stories with revenue
it so I like simple stories with revenue
it so I like simple stories with revenue attached to them you know the high-tech
attached to them you know the high-tech
attached to them you know the high-tech stuff I came out of that market it’s so
stuff I came out of that market it’s so
stuff I came out of that market it’s so complicated so much can go wrong so I
complicated so much can go wrong so I
complicated so much can go wrong so I just love deals where they see an easy
just love deals where they see an easy
just love deals where they see an easy path to revenue thank you so much for
path to revenue thank you so much for
path to revenue thank you so much for watching I made this video because a
watching I made this video because a
watching I made this video because a deal albert asked me to so if there’s a
deal albert asked me to so if there’s a
deal albert asked me to so if there’s a famous entrepreneur that you want me to
famous entrepreneur that you want me to
famous entrepreneur that you want me to profile next leave it in the comments
profile next leave it in the comments
profile next leave it in the comments below and I’ll see what I can do
below and I’ll see what I can do
below and I’ll see what I can do I’d also love to know which of Kevin
I’d also love to know which of Kevin
I’d also love to know which of Kevin O’Leary’s top 10 rules had the biggest
O’Leary’s top 10 rules had the biggest
O’Leary’s top 10 rules had the biggest impact on you leave it in the comments
impact on you leave it in the comments
impact on you leave it in the comments and I’ll join in the discussion thank
and I’ll join in the discussion thank
and I’ll join in the discussion thank you so much for watching
you so much for watching
you so much for watching continue to believe and I’ll see you
continue to believe and I’ll see you
continue to believe and I’ll see you soon
you know they’re probably in there 50 60
you know they’re probably in there 50 60 70 s and even older their number one
70 s and even older their number one
70 s and even older their number one mandate to their own investment strategy
mandate to their own investment strategy
mandate to their own investment strategy is preservation of wealth secondly it’s
is preservation of wealth secondly it’s
is preservation of wealth secondly it’s income and lastly on the hit parade is
income and lastly on the hit parade is
income and lastly on the hit parade is capital appreciation the only way we get
capital appreciation the only way we get
capital appreciation the only way we get capital appreciation is we find
capital appreciation is we find
capital appreciation is we find companies that are growing free cash
companies that are growing free cash
companies that are growing free cash flow I don’t believe in earnings
flow I don’t believe in earnings
flow I don’t believe in earnings that’s mumbo jumbo to me I believe in
that’s mumbo jumbo to me I believe in
that’s mumbo jumbo to me I believe in free cash after capex you tell me how
free cash after capex you tell me how
free cash after capex you tell me how much free cash flow you’re making every
much free cash flow you’re making every
much free cash flow you’re making every quarter it’s the only thing I care about
quarter it’s the only thing I care about
quarter it’s the only thing I care about I don’t want to hear anything else
I don’t want to hear anything else
I don’t want to hear anything else because if you’re not you can’t lie
because if you’re not you can’t lie
because if you’re not you can’t lie about cash that’s what I love about cash
about cash that’s what I love about cash
about cash that’s what I love about cash there’s no vision there’s no story
there’s no vision there’s no story
there’s no vision there’s no story there’s just cash and that’s what I
there’s just cash and that’s what I
there’s just cash and that’s what I trust and that’s what I understand so I
trust and that’s what I understand so I
trust and that’s what I understand so I find companies they’re growing cash I
find companies they’re growing cash I
find companies they’re growing cash I buy their debt they’re perhaps their
buy their debt they’re perhaps their
buy their debt they’re perhaps their converts their common shares because
converts their common shares because
converts their common shares because they pay a dividend and I wait in the
they pay a dividend and I wait in the
they pay a dividend and I wait in the weeds I get paid every single quarter
weeds I get paid every single quarter
weeds I get paid every single quarter anything it doesn’t pay me cash not
anything it doesn’t pay me cash not
anything it doesn’t pay me cash not interested when it comes to winning in
interested when it comes to winning in
interested when it comes to winning in business I like to be very competitive I
business I like to be very competitive I
business I like to be very competitive I like to pour boiling oil over my
like to pour boiling oil over my
like to pour boiling oil over my competitors and think every day how can
competitors and think every day how can
competitors and think every day how can I kill because that is the war of
I kill because that is the war of
I kill because that is the war of business ultimately I want my
business ultimately I want my
business ultimately I want my shareholders to make more money than my
shareholders to make more money than my
shareholders to make more money than my competitors and that’s very healthy so I
competitors and that’s very healthy so I
competitors and that’s very healthy so I think the DNA of a business has to be
think the DNA of a business has to be
think the DNA of a business has to be how do you make money how do you spend
how do you make money how do you spend
how do you make money how do you spend your time making money for your
your time making money for your
your time making money for your shareholders and your nobody is an
shareholders and your nobody is an
shareholders and your nobody is an entrepreneur until you make money for
entrepreneur until you make money for
entrepreneur until you make money for somebody else you know I’d like to be
somebody else you know I’d like to be
somebody else you know I’d like to be remembered for sticking with one ideal
remembered for sticking with one ideal
remembered for sticking with one ideal supporting capitalism believing in it
supporting capitalism believing in it
supporting capitalism believing in it and fighting for it my whole life I mean
and fighting for it my whole life I mean
and fighting for it my whole life I mean I I really really really believe that
I I really really really believe that
I I really really really believe that the only value in a society is that of
the only value in a society is that of
the only value in a society is that of an entrepreneur creating a company
an entrepreneur creating a company
an entrepreneur creating a company creating jobs creating wealth and
creating jobs creating wealth and
creating jobs creating wealth and sustaining our standard of living
sustaining our standard of living
sustaining our standard of living government gets us nothing there is no
government gets us nothing there is no
government gets us nothing there is no value created there you pay for it from
value created there you pay for it from
value created there you pay for it from the private sector and it provides a
the private sector and it provides a
the private sector and it provides a service as far as I’m concerned every
service as far as I’m concerned every
service as far as I’m concerned every government employee works for me and
government employee works for me and
government employee works for me and that we should ask from them the same
that we should ask from them the same
that we should ask from them the same metrics you put on ourselves if you
metrics you put on ourselves if you
metrics you put on ourselves if you don’t perform you should be fired we do
don’t perform you should be fired we do
don’t perform you should be fired we do that in the private sector we should do
that in the private sector we should do
that in the private sector we should do it in the public sector as well I
it in the public sector as well I
it in the public sector as well I respect them as leaders but I also
respect them as leaders but I also
respect them as leaders but I also understand I pay for all of their costs
understand I pay for all of their costs
understand I pay for all of their costs so what I want and what I want to be
so what I want and what I want to be
so what I want and what I want to be remembered for is to my dying day
remembered for is to my dying day
remembered for is to my dying day I want to cut government by 1/3 I
I want to cut government by 1/3 I
I want to cut government by 1/3 I believe that every dollar they spend is
believe that every dollar they spend is
believe that every dollar they spend is 33% wasted and there are 33% too big in
33% wasted and there are 33% too big in
33% wasted and there are 33% too big in this country we need less government we
this country we need less government we
this country we need less government we need more private sector that’s how we
need more private sector that’s how we
need more private sector that’s how we become rich and win
”
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