[Music] [Applause]
[Applause]
[Applause] when I was at university I saved as much
when I was at university I saved as much
when I was at university I saved as much of my student loan as possible in
of my student loan as possible in
of my student loan as possible in February 2016 during my final year I’ve
February 2016 during my final year I’ve
February 2016 during my final year I’ve managed to save about 5 grand so I
managed to save about 5 grand so I
managed to save about 5 grand so I decided to take that 5 grand and put it
decided to take that 5 grand and put it
decided to take that 5 grand and put it in a stock market since then I made
in a stock market since then I made
in a stock market since then I made returns of over 80% in my first 12
returns of over 80% in my first 12
returns of over 80% in my first 12 months and I’ve turned that 5 grand into
months and I’ve turned that 5 grand into
months and I’ve turned that 5 grand into over 9 and a half grand including a
over 9 and a half grand including a
over 9 and a half grand including a piece of art which I recently bought now
piece of art which I recently bought now
piece of art which I recently bought now I didn’t just wake up one day and decide
I didn’t just wake up one day and decide
I didn’t just wake up one day and decide to pick a stock at random although there
to pick a stock at random although there
to pick a stock at random although there were a few things I’ve been doing during
were a few things I’ve been doing during
were a few things I’ve been doing during my time at university which helped me
my time at university which helped me
my time at university which helped me when it came to investing the first was
when it came to investing the first was
when it came to investing the first was my degree itself I was studying
my degree itself I was studying
my degree itself I was studying accounting and finance this meant I had
accounting and finance this meant I had
accounting and finance this meant I had the ability to read and interpret and
the ability to read and interpret and
the ability to read and interpret and understand and analyze financial
understand and analyze financial
understand and analyze financial statements and anything else with
statements and anything else with
statements and anything else with numbers in the company put out
numbers in the company put out
numbers in the company put out so whenever a company released anything
so whenever a company released anything
so whenever a company released anything with numbers in I could do my own
with numbers in I could do my own
with numbers in I could do my own analysis of it rather than relying on
analysis of it rather than relying on
analysis of it rather than relying on the analysis of other people which gave
the analysis of other people which gave
the analysis of other people which gave me a much deeper understanding of the
me a much deeper understanding of the
me a much deeper understanding of the numbers themselves the second skill our
numbers themselves the second skill our
numbers themselves the second skill our heart was just a general interest in
heart was just a general interest in
heart was just a general interest in business I’d always been interested in
business I’d always been interested in
business I’d always been interested in business and during my free time I’d
business and during my free time I’d
business and during my free time I’d read books and watch documentaries and
read books and watch documentaries and
read books and watch documentaries and listen to podcasts and read articles and
listen to podcasts and read articles and
listen to podcasts and read articles and anything like that
anything like that
anything like that about business and entrepreneurs and
about business and entrepreneurs and
about business and entrepreneurs and anything like that that interested me so
anything like that that interested me so
anything like that that interested me so when I came to start investing I already
when I came to start investing I already
when I came to start investing I already had a good understanding of what made a
had a good understanding of what made a
had a good understanding of what made a great business great or a great
great business great or a great
great business great or a great entrepreneur great because had already
entrepreneur great because had already
entrepreneur great because had already been following them a third skill if you
been following them a third skill if you
been following them a third skill if you call it skill was a love of reading I’d
call it skill was a love of reading I’d
call it skill was a love of reading I’d always loved to read and when I was at
always loved to read and when I was at
always loved to read and when I was at university I had a lot of free time so I
university I had a lot of free time so I
university I had a lot of free time so I read at least a book a week now pretty
read at least a book a week now pretty
read at least a book a week now pretty much all of this reading was in some way
much all of this reading was in some way
much all of this reading was in some way related to business and a lot of it was
related to business and a lot of it was
related to business and a lot of it was folk
folk
folk surround investing or more on both it
surround investing or more on both it
surround investing or more on both it for those of you who don’t know Warren
for those of you who don’t know Warren
for those of you who don’t know Warren Buffett is the greatest investor of all
Buffett is the greatest investor of all
Buffett is the greatest investor of all time and he’s transformed Berkshire
time and he’s transformed Berkshire
time and he’s transformed Berkshire Hathaway from a struggling textiles firm
Hathaway from a struggling textiles firm
Hathaway from a struggling textiles firm into one of the biggest companies in the
into one of the biggest companies in the
into one of the biggest companies in the world with over four hundred billion
world with over four hundred billion
world with over four hundred billion dollars and he’s made himself one of the
dollars and he’s made himself one of the
dollars and he’s made himself one of the richest men in the world during the
richest men in the world during the
richest men in the world during the process so those were the three skills
process so those were the three skills
process so those were the three skills that probably helped me the most
that probably helped me the most
that probably helped me the most being able to read financial statements
being able to read financial statements
being able to read financial statements an interest in business and a lot of
an interest in business and a lot of
an interest in business and a lot of reading but there’s something else which
reading but there’s something else which
reading but there’s something else which really helped me to and that was my
really helped me to and that was my
really helped me to and that was my friend John when I made my first
friend John when I made my first
friend John when I made my first investment I basically thought that this
investment I basically thought that this
investment I basically thought that this stock I’d invested in was the greatest
stock I’d invested in was the greatest
stock I’d invested in was the greatest thing in the world and everyone I knew
thing in the world and everyone I knew
thing in the world and everyone I knew should invest in it too so whenever I
should invest in it too so whenever I
should invest in it too so whenever I saw any of my friends I just talked
saw any of my friends I just talked
saw any of my friends I just talked about his stock and why it was
about his stock and why it was
about his stock and why it was undervalued and why it was the best
undervalued and why it was the best
undervalued and why it was the best thing ever and most of them fairly
thing ever and most of them fairly
thing ever and most of them fairly enough didn’t care at all and I saw my
enough didn’t care at all and I saw my
enough didn’t care at all and I saw my friend John and I was going on about
friend John and I was going on about
friend John and I was going on about this stock and he actually took an
this stock and he actually took an
this stock and he actually took an interest in it so I went on about it
interest in it so I went on about it
interest in it so I went on about it even more and he ended up investing in
even more and he ended up investing in
even more and he ended up investing in this stock himself now since then we’ve
this stock himself now since then we’ve
this stock himself now since then we’ve both made a habit of talking to each
both made a habit of talking to each
both made a habit of talking to each other about stocks and investing
other about stocks and investing
other about stocks and investing whenever we’re together and we’re both
whenever we’re together and we’re both
whenever we’re together and we’re both better investors for it were able to
better investors for it were able to
better investors for it were able to play devil’s advocate with each other’s
play devil’s advocate with each other’s
play devil’s advocate with each other’s ideas and get get a second perspective
ideas and get get a second perspective
ideas and get get a second perspective on our own ideas and we’re also more
on our own ideas and we’re also more
on our own ideas and we’re also more likely to pick up on our own biases
likely to pick up on our own biases
likely to pick up on our own biases towards our own ideas too firstly when
towards our own ideas too firstly when
towards our own ideas too firstly when we have to explain them to the other
we have to explain them to the other
we have to explain them to the other person and then when we have to defend
person and then when we have to defend
person and then when we have to defend what we’ve said against what they reply
what we’ve said against what they reply
what we’ve said against what they reply one of the reasons Warren Buffett is the
one of the reasons Warren Buffett is the
one of the reasons Warren Buffett is the greatest investor of all time is because
greatest investor of all time is because
greatest investor of all time is because of his friendship with Charlie Munger
of his friendship with Charlie Munger
of his friendship with Charlie Munger Warren and Charlie have been friends and
Warren and Charlie have been friends and
Warren and Charlie have been friends and partners for decades Charlie said in a
partners for decades Charlie said in a
partners for decades Charlie said in a CNBC interview recently that they talked
CNBC interview recently that they talked
CNBC interview recently that they talked pretty much all the time but they
pretty much all the time but they
pretty much all the time but they disagree a lot and yet they’re still
disagree a lot and yet they’re still
disagree a lot and yet they’re still quite respectful of each other what the
quite respectful of each other what the
quite respectful of each other what the pair do is or talk to each other about
pair do is or talk to each other about
pair do is or talk to each other about their ideas and then they’ll disagree
their ideas and then they’ll disagree
their ideas and then they’ll disagree with each other and then they’ll go away
with each other and then they’ll go away
with each other and then they’ll go away and they’ll make their own decisions
and they’ll make their own decisions
and they’ll make their own decisions anyway and a lot of the time they’ll
anyway and a lot of the time they’ll
anyway and a lot of the time they’ll speak to each other knowing that the
speak to each other knowing that the
speak to each other knowing that the other is going to disagree with what
other is going to disagree with what
other is going to disagree with what they’re about to say they’ll still do it
they’re about to say they’ll still do it
they’re about to say they’ll still do it anyway just because
anyway just because
anyway just because they know the value of getting that
they know the value of getting that
they know the value of getting that second opinion if it wasn’t for Charlie
second opinion if it wasn’t for Charlie
second opinion if it wasn’t for Charlie Munger you probably would have never
Munger you probably would have never
Munger you probably would have never heard of Warren Buffett for those of you
heard of Warren Buffett for those of you
heard of Warren Buffett for those of you who have what heard of Warren Buffett
who have what heard of Warren Buffett
who have what heard of Warren Buffett the reason for this is before me in
the reason for this is before me in
the reason for this is before me in Charlie Warren followed the teachings of
Charlie Warren followed the teachings of
Charlie Warren followed the teachings of Ben Graham the author of the intelligent
Ben Graham the author of the intelligent
Ben Graham the author of the intelligent investor which is a great book by the
investor which is a great book by the
investor which is a great book by the way now what Graham taught was about
way now what Graham taught was about
way now what Graham taught was about looking for companies that are
looking for companies that are
looking for companies that are undervalued buying shares in those
undervalued buying shares in those
undervalued buying shares in those companies waiting for it to go up
companies waiting for it to go up
companies waiting for it to go up selling the shares and repeating the
selling the shares and repeating the
selling the shares and repeating the process which later became known as
process which later became known as
process which later became known as value investing now the best way to
value investing now the best way to
value investing now the best way to describe this is it’s like walking along
describe this is it’s like walking along
describe this is it’s like walking along the pavement and looking at cigar butts
the pavement and looking at cigar butts
the pavement and looking at cigar butts on the floor and then picking up the
on the floor and then picking up the
on the floor and then picking up the cigar butts and trying to light them
cigar butts and trying to light them
cigar butts and trying to light them occasionally you might burn your mouth a
occasionally you might burn your mouth a
occasionally you might burn your mouth a little bit but for the most part you
little bit but for the most part you
little bit but for the most part you will be able to get an extra puff or two
will be able to get an extra puff or two
will be able to get an extra puff or two out of these cigars so that’s what
out of these cigars so that’s what
out of these cigars so that’s what Warren was doing before he met Charlie
Warren was doing before he met Charlie
Warren was doing before he met Charlie he was walking along looking for cigar
he was walking along looking for cigar
he was walking along looking for cigar butts and trying to light them and he
butts and trying to light them and he
butts and trying to light them and he was very very good at it and it made him
was very very good at it and it made him
was very very good at it and it made him rich and it would have continued to do
rich and it would have continued to do
rich and it would have continued to do so but it probably wouldn’t have made
so but it probably wouldn’t have made
so but it probably wouldn’t have made him as super rich as he is now and the
him as super rich as he is now and the
him as super rich as he is now and the main reason for this is that the biggest
main reason for this is that the biggest
main reason for this is that the biggest limitation of Graham’s teachings was
limitation of Graham’s teachings was
limitation of Graham’s teachings was because he was buying and selling shirts
because he was buying and selling shirts
because he was buying and selling shirts quite quickly
quite quickly
quite quickly he wasn’t benefiting from the compound
he wasn’t benefiting from the compound
he wasn’t benefiting from the compound interest that you get if you hold on to
interest that you get if you hold on to
interest that you get if you hold on to a stock for decades
a stock for decades
a stock for decades rather than years so Warren met charlie
rather than years so Warren met charlie
rather than years so Warren met charlie and Charlie persuaded Warren to move on
and Charlie persuaded Warren to move on
and Charlie persuaded Warren to move on from these cigar books looking for great
from these cigar books looking for great
from these cigar books looking for great companies at fair prices instead of fair
companies at fair prices instead of fair
companies at fair prices instead of fair companies at great prices so if you’re
companies at great prices so if you’re
companies at great prices so if you’re interested in investing I’d strongly
interested in investing I’d strongly
interested in investing I’d strongly recommend that you find someone else
recommend that you find someone else
recommend that you find someone else who’s interested in it and just talk to
who’s interested in it and just talk to
who’s interested in it and just talk to them find someone that you can talk to
them find someone that you can talk to
them find someone that you can talk to for absolutely ages and not get bored
for absolutely ages and not get bored
for absolutely ages and not get bored and you’ll both be better off as a
and you’ll both be better off as a
and you’ll both be better off as a result another benefit of this is that
result another benefit of this is that
result another benefit of this is that you’ll be able to avoid one of the main
you’ll be able to avoid one of the main
you’ll be able to avoid one of the main sticking points that most investors face
sticking points that most investors face
sticking points that most investors face and that’s yourself human brains are
and that’s yourself human brains are
and that’s yourself human brains are wired so that we’ve got loads of innate
wired so that we’ve got loads of innate
wired so that we’ve got loads of innate biases that affect us every single day
biases that affect us every single day
biases that affect us every single day when we’re making decisions and for the
when we’re making decisions and for the
when we’re making decisions and for the most part it doesn’t make any difference
most part it doesn’t make any difference
most part it doesn’t make any difference at all or very little but when it comes
at all or very little but when it comes
at all or very little but when it comes to investing if you make a decision
to investing if you make a decision
to investing if you make a decision that’s based on a biased
that’s based on a biased
that’s based on a biased you plain you’re probably going to make
you plain you’re probably going to make
you plain you’re probably going to make be more likely to make a bad decision
be more likely to make a bad decision
be more likely to make a bad decision there are absolutely loads of these
there are absolutely loads of these
there are absolutely loads of these biases but I’m just going to go over a
biases but I’m just going to go over a
biases but I’m just going to go over a few of the main ones so you get an idea
few of the main ones so you get an idea
few of the main ones so you get an idea of what I’m talking about
of what I’m talking about
of what I’m talking about the first is called confirmation bias
the first is called confirmation bias
the first is called confirmation bias and what that is is it’s where if we
and what that is is it’s where if we
and what that is is it’s where if we have a thought or a theory about
have a thought or a theory about
have a thought or a theory about anything we’ll go out and we’ll start
anything we’ll go out and we’ll start
anything we’ll go out and we’ll start taking notice of things that prove a
taking notice of things that prove a
taking notice of things that prove a thought or theory right and without was
thought or theory right and without was
thought or theory right and without was even realizing we won’t take as much
even realizing we won’t take as much
even realizing we won’t take as much notice of things that prove it wrong so
notice of things that prove it wrong so
notice of things that prove it wrong so as an example if I go out and buy a red
as an example if I go out and buy a red
as an example if I go out and buy a red car on my drive back in this red car I
car on my drive back in this red car I
car on my drive back in this red car I might start noticing all the other red
might start noticing all the other red
might start noticing all the other red cars on the road and I might come to the
cars on the road and I might come to the
cars on the road and I might come to the conclusion that most people have red
conclusion that most people have red
conclusion that most people have red cars as well now obviously this isn’t
cars as well now obviously this isn’t
cars as well now obviously this isn’t true but I could come to that conclusion
true but I could come to that conclusion
true but I could come to that conclusion because I’m only taking notice of all
because I’m only taking notice of all
because I’m only taking notice of all the red ones and I’m not taking as much
the red ones and I’m not taking as much
the red ones and I’m not taking as much notice of all the cars that drive past
notice of all the cars that drive past
notice of all the cars that drive past me that aren’t red if you do this in the
me that aren’t red if you do this in the
me that aren’t red if you do this in the stock market that could obviously be
stock market that could obviously be
stock market that could obviously be quite a big problem if you have a
quite a big problem if you have a
quite a big problem if you have a thought or a theory about an investment
thought or a theory about an investment
thought or a theory about an investment or stock and then you go out and you
or stock and then you go out and you
or stock and then you go out and you only take notes of things that prove
only take notes of things that prove
only take notes of things that prove that your theory is really good and you
that your theory is really good and you
that your theory is really good and you don’t take as much notice of things that
don’t take as much notice of things that
don’t take as much notice of things that prove its not so good you’re probably
prove its not so good you’re probably
prove its not so good you’re probably more likely to make a bad decision and
more likely to make a bad decision and
more likely to make a bad decision and lose money
lose money
lose money the second bias is called the gamblers
the second bias is called the gamblers
the second bias is called the gamblers fallacy and what that is is it’s where
fallacy and what that is is it’s where
fallacy and what that is is it’s where we’ll play sway on previous events even
we’ll play sway on previous events even
we’ll play sway on previous events even when we know those events have no
when we know those events have no
when we know those events have no relationship so what’s going to happen
relationship so what’s going to happen
relationship so what’s going to happen in the future so as an example if I toss
in the future so as an example if I toss
in the future so as an example if I toss a coin four times and I get four heads
a coin four times and I get four heads
a coin four times and I get four heads and ask one of you to predict the
and ask one of you to predict the
and ask one of you to predict the outcome of the fifth toss you might say
outcome of the fifth toss you might say
outcome of the fifth toss you might say tails and your reason for saying tails
tails and your reason for saying tails
tails and your reason for saying tails could be that there’s no way you’re
could be that there’s no way you’re
could be that there’s no way you’re gonna get enough ahead now logically
gonna get enough ahead now logically
gonna get enough ahead now logically this doesn’t make any sense
this doesn’t make any sense
this doesn’t make any sense because on the fifth toss a head is just
because on the fifth toss a head is just
because on the fifth toss a head is just as likely as a tail is and what’s
as likely as a tail is and what’s
as likely as a tail is and what’s happened on the previous four tosses
happened on the previous four tosses
happened on the previous four tosses have absolutely no relationship to the
have absolutely no relationship to the
have absolutely no relationship to the fifth toss an example of this in
fifth toss an example of this in
fifth toss an example of this in investing would be if you look at a
investing would be if you look at a
investing would be if you look at a graph showing the price of a stock over
graph showing the price of a stock over
graph showing the price of a stock over a year it’s gone like that you might
a year it’s gone like that you might
a year it’s gone like that you might look at that and think well if that
look at that and think well if that
look at that and think well if that continues it’s gonna go like that but
continues it’s gonna go like that but
continues it’s gonna go like that but what’s happened from that are there has
what’s happened from that are there has
what’s happened from that are there has no relationship with what’s going to
no relationship with what’s going to
no relationship with what’s going to happen from that
happen from that
happen from that onwards the past performance of a stock
onwards the past performance of a stock
onwards the past performance of a stock has no relationship to the future
has no relationship to the future
has no relationship to the future performance so letting it impact your
performance so letting it impact your
performance so letting it impact your decision in any way is just illogical
decision in any way is just illogical
decision in any way is just illogical the third bias is called the anchoring
the third bias is called the anchoring
the third bias is called the anchoring effect and what that is is it’s where
effect and what that is is it’s where
effect and what that is is it’s where once we get used to seeing something at
once we get used to seeing something at
once we get used to seeing something at a certain level that level becomes an
a certain level that level becomes an
a certain level that level becomes an anchor we set in our mind which works as
anchor we set in our mind which works as
anchor we set in our mind which works as a basis for comparison for anything else
a basis for comparison for anything else
a basis for comparison for anything else we see that’s similar so an example
we see that’s similar so an example
we see that’s similar so an example would be if I’ve been following a stock
would be if I’ve been following a stock
would be if I’ve been following a stock field say yeah it’s been at 20 pounds of
field say yeah it’s been at 20 pounds of
field say yeah it’s been at 20 pounds of share and then there’s a big accounting
share and then there’s a big accounting
share and then there’s a big accounting scandal and it drops to 5 pounds of
scandal and it drops to 5 pounds of
scandal and it drops to 5 pounds of share I could be looking at this stock
share I could be looking at this stock
share I could be looking at this stock and look at my lips and the reason if I
and look at my lips and the reason if I
and look at my lips and the reason if I got that excited which would be a bit
got that excited which would be a bit
got that excited which would be a bit weird but the reason that I’d be looking
weird but the reason that I’d be looking
weird but the reason that I’d be looking at this stock and getting all excited is
at this stock and getting all excited is
at this stock and getting all excited is because it now looks really cheap
because it now looks really cheap
because it now looks really cheap because compared to my anchor that I’ve
because compared to my anchor that I’ve
because compared to my anchor that I’ve got in my mind of 20 pounds of share
got in my mind of 20 pounds of share
got in my mind of 20 pounds of share five pounds is really cheap now if I
five pounds is really cheap now if I
five pounds is really cheap now if I then do a proper analysis of this stock
then do a proper analysis of this stock
then do a proper analysis of this stock I might find out it’s actually
I might find out it’s actually
I might find out it’s actually overvalued at five and it’s only
overvalued at five and it’s only
overvalued at five and it’s only actually worth two pounds 50 a share and
actually worth two pounds 50 a share and
actually worth two pounds 50 a share and if someone else came in when it was at
if someone else came in when it was at
if someone else came in when it was at five pounds a share and had a look at it
five pounds a share and had a look at it
five pounds a share and had a look at it and they did an analysis they might
and they did an analysis they might
and they did an analysis they might think well I’m gonna wait for it to
think well I’m gonna wait for it to
think well I’m gonna wait for it to drops of three pounds or two pounds 50
drops of three pounds or two pounds 50
drops of three pounds or two pounds 50 and it’d be a lot easier for them to do
and it’d be a lot easier for them to do
and it’d be a lot easier for them to do that because they don’t have the young
that because they don’t have the young
that because they don’t have the young Cosette in their mind or as I’m still
Cosette in their mind or as I’m still
Cosette in their mind or as I’m still viewing it as a 20 pound a share stock
viewing it as a 20 pound a share stock
viewing it as a 20 pound a share stock as a side note by the way I strongly
as a side note by the way I strongly
as a side note by the way I strongly recommend that if you’re interested in
recommend that if you’re interested in
recommend that if you’re interested in investing that you read about psychology
investing that you read about psychology
investing that you read about psychology because not only will it allow you to
because not only will it allow you to
because not only will it allow you to sort of watch out for your own innate
sort of watch out for your own innate
sort of watch out for your own innate biases but it will also give you a much
biases but it will also give you a much
biases but it will also give you a much better understanding of why stocks and
better understanding of why stocks and
better understanding of why stocks and stock markets behave the way they do
stock markets behave the way they do
stock markets behave the way they do because a lot of what they do is based
because a lot of what they do is based
because a lot of what they do is based on other people’s or logical decisions
on other people’s or logical decisions
on other people’s or logical decisions and biased viewpoints so if you’re
and biased viewpoints so if you’re
and biased viewpoints so if you’re interested in investing having a friend
interested in investing having a friend
interested in investing having a friend that you talk about investing with can
that you talk about investing with can
that you talk about investing with can help you to avoid making decisions based
help you to avoid making decisions based
help you to avoid making decisions based on bias viewpoints and you’re more
on bias viewpoints and you’re more
on bias viewpoints and you’re more likely to do that which means you’re
likely to do that which means you’re
likely to do that which means you’re less likely to lose money having a
less likely to lose money having a
less likely to lose money having a friend that you talk to about investing
friend that you talk to about investing
friend that you talk to about investing hope you not only to avoid making
hope you not only to avoid making
hope you not only to avoid making decisions based on biased viewpoints and
decisions based on biased viewpoints and
decisions based on biased viewpoints and let you recommend stocks to each other
let you recommend stocks to each other
let you recommend stocks to each other but you can also recommend resources to
but you can also recommend resources to
but you can also recommend resources to each other if I go away and I’m reading
each other if I go away and I’m reading
each other if I go away and I’m reading books and articles and watching
books and articles and watching
books and articles and watching documentaries and whatever else I can
documentaries and whatever else I can
documentaries and whatever else I can say the very best stuff that I find and
say the very best stuff that I find and
say the very best stuff that I find and recommend it to my friend John and he
recommend it to my friend John and he
recommend it to my friend John and he can do that with a very best stuff that
can do that with a very best stuff that
can do that with a very best stuff that he finds and recommend it to me
he finds and recommend it to me
he finds and recommend it to me so as a result the overall quality of
so as a result the overall quality of
so as a result the overall quality of the information that both of us are
the information that both of us are
the information that both of us are taking in is going up people have
taking in is going up people have
taking in is going up people have training partners at the tip and this
training partners at the tip and this
training partners at the tip and this allows them to stay motivated and make
allows them to stay motivated and make
allows them to stay motivated and make sure they eat the right food having an
sure they eat the right food having an
sure they eat the right food having an investing partner is exactly the same
investing partner is exactly the same
investing partner is exactly the same except you’re working on your mind
except you’re working on your mind
except you’re working on your mind rather than your body if you don’t talk
rather than your body if you don’t talk
rather than your body if you don’t talk to people about investing you might
to people about investing you might
to people about investing you might never even get started in the first
never even get started in the first
never even get started in the first place when I made my first investment
place when I made my first investment
place when I made my first investment the five grand that I’d saved up I had
the five grand that I’d saved up I had
the five grand that I’d saved up I had no idea what I was going to use it for
no idea what I was going to use it for
no idea what I was going to use it for and I had no intention of using it and
and I had no intention of using it and
and I had no intention of using it and stock market I just saved it because I
stock market I just saved it because I
stock market I just saved it because I thought it might be useful at some point
thought it might be useful at some point
thought it might be useful at some point and then I stumbled across this stock
and then I stumbled across this stock
and then I stumbled across this stock that I thought was undervalued and I
that I thought was undervalued and I
that I thought was undervalued and I just wouldn’t shut up about this stock
just wouldn’t shut up about this stock
just wouldn’t shut up about this stock to my girlfriend that’s right I’ve got a
to my girlfriend that’s right I’ve got a
to my girlfriend that’s right I’ve got a girlfriend now she got really annoyed of
girlfriend now she got really annoyed of
girlfriend now she got really annoyed of me just going on and on about this stock
me just going on and on about this stock
me just going on and on about this stock so she turned around to me eventually
so she turned around to me eventually
so she turned around to me eventually and just said well if you’re that
and just said well if you’re that
and just said well if you’re that confident why don’t you invest in it
confident why don’t you invest in it
confident why don’t you invest in it so that’s what I did now if I hadn’t
so that’s what I did now if I hadn’t
so that’s what I did now if I hadn’t have not shut up about this stock I
have not shut up about this stock I
have not shut up about this stock I never would have got started in the
never would have got started in the
never would have got started in the first place hopefully by now I’ve
first place hopefully by now I’ve
first place hopefully by now I’ve hammered home the point that you’ll be a
hammered home the point that you’ll be a
hammered home the point that you’ll be a better investor if you talk to people so
better investor if you talk to people so
better investor if you talk to people so what I’m gonna do now is just finish
what I’m gonna do now is just finish
what I’m gonna do now is just finish this speech by recommending some
this speech by recommending some
this speech by recommending some resources that have been useful to me
resources that have been useful to me
resources that have been useful to me and will hopefully be useful to you as
and will hopefully be useful to you as
and will hopefully be useful to you as well and I’d like to point out I’m in no
well and I’d like to point out I’m in no
well and I’d like to point out I’m in no way affiliated with these resources in
way affiliated with these resources in
way affiliated with these resources in any way or benefit benefiting at all
any way or benefit benefiting at all
any way or benefit benefiting at all they’re just useful resources when it
they’re just useful resources when it
they’re just useful resources when it comes to podcasts the best tea that I’ve
comes to podcasts the best tea that I’ve
comes to podcasts the best tea that I’ve come across are Motley Fool money and
come across are Motley Fool money and
come across are Motley Fool money and the investors podcast when it comes to
the investors podcast when it comes to
the investors podcast when it comes to books I’d recommend that you read
books I’d recommend that you read
books I’d recommend that you read anything you can get your hands on in
anything you can get your hands on in
anything you can get your hands on in relation to Warren Buffett or Charlie
relation to Warren Buffett or Charlie
relation to Warren Buffett or Charlie Munger Mary Buffett and David Clarke
Munger Mary Buffett and David Clarke
Munger Mary Buffett and David Clarke have written a great series of books
have written a great series of books
have written a great series of books about Warren and why invests the way it
about Warren and why invests the way it
about Warren and why invests the way it does I particularly recommend Warren
does I particularly recommend Warren
does I particularly recommend Warren Buffett and the interpretation of
Buffett and the interpretation of
Buffett and the interpretation of financial statements when it comes to
financial statements when it comes to
financial statements when it comes to articles that say if you’re interested
articles that say if you’re interested
articles that say if you’re interested in
in
in company for whatever reason then just
company for whatever reason then just
company for whatever reason then just follow that company on social media and
follow that company on social media and
follow that company on social media and every now and then just do a Google new
every now and then just do a Google new
every now and then just do a Google new search of what’s been happening with
search of what’s been happening with
search of what’s been happening with that company even if it’s just a company
that company even if it’s just a company
that company even if it’s just a company that you just like the products off if
that you just like the products off if
that you just like the products off if you then later decide to invest you’ll
you then later decide to invest you’ll
you then later decide to invest you’ll have a much better understanding of this
have a much better understanding of this
have a much better understanding of this company if you followed what’s changed
company if you followed what’s changed
company if you followed what’s changed the stock price real time rather than
the stock price real time rather than
the stock price real time rather than just reading about it retrospectively
just reading about it retrospectively
just reading about it retrospectively and even if you don’t invest in that one
and even if you don’t invest in that one
and even if you don’t invest in that one it’s just a good habit to get into I’d
it’s just a good habit to get into I’d
it’s just a good habit to get into I’d also recommend that you subscribe to The
also recommend that you subscribe to The
also recommend that you subscribe to The Economist which is a really good
Economist which is a really good
Economist which is a really good magazine for summarizing what’s happened
magazine for summarizing what’s happened
magazine for summarizing what’s happened in the world of Business and Finance and
in the world of Business and Finance and
in the world of Business and Finance and everything else during the week if
everything else during the week if
everything else during the week if you’ve got any questions or comments
you’ve got any questions or comments
you’ve got any questions or comments then feel free to send me a tweet my
then feel free to send me a tweet my
then feel free to send me a tweet my username is at the sample and that’s
username is at the sample and that’s
username is at the sample and that’s also my username on everything else I
also my username on everything else I
also my username on everything else I hope you’ve enjoyed this speech thank
hope you’ve enjoyed this speech thank
hope you’ve enjoyed this speech thank you for listening
you for listening
you for listening [Music]
[Music]
[Music] [Applause]
”
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