42 recession-proof money secrets and if You don't know who I am on his Oxford Mosey I sold two of my companies last Year for 46.2 million and my current Portfolio at acquisition.com is over 200 Million dollars a year and I want to Take 10 years of money secrets that Worked in both boom and bust economies So that you can save the decade and Apply them today number one he who gives The money has the power so a lot of Times poor people they're always trying To get money I was trying to get money The person who gives the money is the One who's in control like if you think About the biggest institutions in the World what are they Banks what do they Do all day they give money when you give Someone money you get to dictate the Terms you actually now own them number Two never trade reputation for money Because you can get money back but you Can't get reputation back if you think About reputation as something that Compounds over time the longer you have It the more you build it the more it Compounds unto itself it is your brand Which allows you to do more deals do Bigger deals do them faster the moment You lose the rep because you traded it For money in the short you cut the Compounding and that's where all of the Gains in life come from number three Money love speed wealth loves time
Poverty loves indecision micro money Love speed if you want to move quickly On faster customers follow up with your Leads Etc when you think about Building Wealth it's not about transacting it's About letting that compounding happen And that takes time and it takes not Interrupting it most people never Achieve either of those things because They sit in decision four we can always Make more money than we need this is a Belief that has served my wife and I Really really well we look back on our Lives and we've never not been able to Eat not had shelter and we've continued To increase our skill set a lot of times We have this desire or you know our Animal brain wants to make us make Decisions out of scarcity out of fear we Don't need any of the money that's Coming because we have always had enough Fortunes are made by taking a lot of Risk with a little bit of money and Fortunes are maintained by taking a Little bit of risk with a lot of money Somebody who's self-made had nothing and So they risked everything in order to Make it big but the thing is when you Have nothing you're not risking a lot You have nothing to lose which makes you Dangerous which is one of the biggest Advantages of having nothing but if you Continue to do that when you do have Something to lose you can lose your
Fortune and so you have to change the Behavior once you have the cast once you Have the Empire six money flows where Attention goes if you spend time Thinking about fashion all day your Attention is going towards buying Clothes if you think about cars all day It's going towards your car if you're Thinking about your business all day it Should be going towards your business Pick one thing go all in because you Only have so much Juju think about it Like a magnifying glass and you're the Sun in this instance and you've got to Burn a hole to get through to the next Level if you're a spread across too thin Of an area you never get enough Concentrated heat most people have the Potential but they don't have the focus Which is why they can never break Through seven your home life and your Business life have to be aligned Money-wise so you can't try to grow a Business and like reinvest everything Here while you're living a super lavish Lifestyle trying to flex like it has to Be aligned all of our business rules Around money are also our home rules Around money and so if we don't live With any debt within our personal lives We do the same thing within our business Lives eight ignore money advice from Poor people this may sound ridiculous But let me say it differently ignore
Money advice from your Dad or Mom who Are poorer than you want to be from your Good friends who are poorer than you Want to be from people who have smaller Dreams for your life than you do the Reason that rich people can lose Everything and then recreate it is Because they see reality more accurately The reason people can't make money is Because they don't see reality the way It actually is most of life is trying to Pull these rocks out of our vision so That we can see more clearly nine it's Always easier to buy than to sell you Want to get into a stock you want to get Into something you can buy it instantly You want to get into a real estate deal You want to get into a business you have To be extra careful you want to put all The slow on the buy and you want to put All the lubricant on the cell 10 money Is fickle money is jealous it sticks and Goes to the person who pays it the most Attention money comes into the system But there are these grooves in the Ground where it all eventually flows up To the few people who pay at the most Attention someone gets paid they go buy Their groceries the grocery person has To go by for the supplier supplier buys Them from whatever working with the Person who has the access is the one who Pays it the most attention is the one Who it sticks to at the end 11. we stay
Poor until we've learned all the lessons That poverty has to teach people stay in Poverty but they're not trying to pay Attention to like what lesson do I need To be learning that I'm not actually Taking action learning how to save money At a basic level personal finance let's Be guys it's Graham here these are the Lessons that we have to learn in poverty To get out of poverty and until you do That you don't beat the level 12. Frugality drives Innovation even when You have money one of the best things to Do in my opinion is constrain your Resources constrain time it'll force you To think creatively to solve problems Without using money as the solution and If you have constraints right now on Time and or money don't see it as a Disadvantage because it's what people Who do have money try to get into to Solve problems and the only thing that's At the disadvantage is thinking it is 13. think once before investing think Twice before spending investing is Something that you're putting money into That is going to give you a return of Some kind it's either going to give you A skill that's going to increase your Earning capacity or it's going to be Something that's going to quite Literally give you a return in terms It's going to be yield or worth more in The future spending is something that's
Going to never be worth more in the Future and it's going to be consumed 14 Money flows to the person who needs it The least the risk get richer because They don't need it and because they Don't need it they have leverage you Have to sell not from your own wallet But from the person in front of you come To the table with our other options it's The person who needs nothing who's the Person who has the most power and that's Where the money will go 15. we make Money our money does not make us you Start tying your self-worth to your net Worth then your net worth itself becomes A liability to your own self-esteem it Is my ability to make money which is What creates my value not the money Itself because the money itself can be Taken my family was in the Iranian Revolution and everything they had was Taken all it takes is one government Saying oh all that land all those cars All those homes those are ours now and That's it and so a lot of people have This idea of legacy and permanence That's Just an Illusion which is why we Make our money our money doesn't make us 16. it may be an amazing opportunity but Not our amazing opportunity one of the Things that I needed early on was Permission to not do things because in The beginning you don't know how to do Anything your analysis paralysis and you
Just get scared and once you get over That the problem is that your yes muscle Becomes too flexed you start saying yes To everything we should do this thing And we should do this thing together you Say dude I think it's amazing Opportunity I just don't think it's my Amazing opportunity and it's gotten me Out of so many situations that I know Long term wouldn't have been good for me 17. we control the money flow wherever Possible people who have a lot of Control payment processors everybody Thinks they're amazing until the day you Can't process money and so the idea is The further Upstream you can go the more Leverage and control you have over the Money Banks get the money and then they Give it back later the person who's Furthest Upstream the money has the most Power over it 18 always have no Fund me knowing that I can take whatever Risk I want and I am still protected and Everything that I have for the rest of My life is taken care of gives me a lot Of Peace which allows be more aggressive Be more offensive as soon as you can Have your oh phone whether it's Three months whether it's six months Start putting that away that nut so that You can go more on the offensive 19. the Biggest erodor of wealth is ignorance Not knowing how to make a million Dollars is costing you whatever you make
Every year minus a million dollars and So if you make 50 Grand a year it costs You 950 000 a year to not know how to Make a million dollars which is why I Put so much money into paying down this Invisible hand that's been suppressing My income my whole life and yours too 20. you get paid for the value you Create times your ability to negotiate Divided by how hard you are to replace If you provide something that's very Valuable and you're very good at Negotiating but somebody else can Provide the exact same thing as you for A tenth of the price you still don't Have that good of a negotiating position Making money is capturing a percentage Of the value that you create for other People 21 mistakes love a rush decision I've trained myself now enough that like When I feel fomo I pause fomo means slow Go mistakes love a rush decision and so It's just one of those easy beliefs that Has slowed me down and has saved me so Much money 22. leverage comes from not Needing the other person and more Specifically leverage comes from needing Nothing you can't control somebody who Needs nothing Right someone needs nothing you have no Influence over them how do I become that Person the monks do it by relinquishing Everything and needing nothing and the Rich man does it by satisfying all his
Needs and not needing the deal on the Other side of the table in both of those Situations you create leverage 23 Markets take longer to adjust than you Expect and then they move faster than You can imagine The Big Short if you saw That movie the guy was shorting for like Four years and he's like the math Doesn't make sense the bubble kept going Bubble kept going bubble kept going and Then it happened faster than people Imagine we have to be comfortable with The fact that we might have to sit in Discomfort for an extended period of Time before what we believe to be Reality is reflected 24 money is a game Treated as such you can't win the game If you don't know you're playing one the Wealthiest people in the world see money As a game they don't even use money to Satisfy material needs because they Already have it how can I adopt that Perspective earlier on in my career Thinking about things in terms of Personal bests bank account PRS what Gets measured gets improved you can get Someone to lose weight just by simply Getting them to weigh themselves every Day without giving them any advice at All just if you pay attention to it it Will start sticking to you 25 don't bet The empire for a pot of gold even though You might have this opportunity here It's never worth risking the whole pie
And I can't tell you the amount of times Where I've been like man if I went all In on this thing money-wise the thing is That you can go all in on your attention But I wouldn't go all in on your money 26 always do a starter deal with new Faces so this is a hard one one of your Friends comes to you and is like dude I Want to do this Airbnb thing or hey I've Got this do a starter deal first you got To see how these people are everything Should still look great on paper Everything should still make sense they Should still be amazing characters Etc You still mitigate your risk by saying First deal I'm gonna do with you is a Small deal 27 trust is worth more than a Bigger return trust lubricates deal Velocity trust compounds you don't want To take all the meat on the bone because You want to have a long-term Relationship when I talk to Partners When I talk to business owners how they Talk about the people that they do Business with tells you a lot about them And how they do business when I talk to Somebody and I'm like hey why don't you Do this they're like hey these guys have Been good to us for a very long time We've had a very good relationship for 10 years that is something I respect a Lot and that is what people who have Money act like poor people always trying To one over everyone over and over again
And they never get any trust from Anybody which means they have no Compounding relationships 28 money is Not a zero-sum game the older I've Gotten the more I'm like how can I get Onto their side of the table and both Make money together why don't we both Take a big piece of this upside rather Than slice up a pie that's in front of Us 29 never take a standard deal there's Always a better one there's always a Better deal and a lot of times you have To ask for it hey this term and this Term and this term are things that are Concerning to me is there anything we Can do about these remember earlier Leverage comes from not needing the deal You have to be willing to walk away and I can't tell you the amount of times That I've walked away from a deal and The person comes back after saying well I can't do a deal I'm like cool no Worries and they come back three or four Days later and they're like all right Man I'll do the deal and then I might be Like hey well the terms have changed you Know I'm kidding 30. expect low risk Amazing Returns the wealthiest friends That I have who are billionaire plus They're just not interested in 10 20 Returns they're looking for 50 plus Annualized returns most people expect 10 Because that's what the s p does it Doesn't mean that that has to be your
Personal standard thinking through that Way has changed how I saw investing in General 31 don't think in irr which Means internal rate of return instead Thinking how long will this take to Double how long will this take to Triple It's hard to say this is going to grow By 25 a year what is easier to say is This is going to double in three Changing how you ask the question Changes how you'll find the answer 32 This is a buffetism but diversification Is a hedge against ignorance and it's Only risky if you don't know what you're Doing there's a million games and all of Them make tons of money and so it's Really about taking one game and taking It to its natural conclusion which is Learning every single aspect of that Game rather than saying I want to be in Stocks I want to be in real estate I Want to be in crypto I would also have My side hustles I want to like you can't Get good at any even because you're Competing against people who are all in Play one game and play well 34. I Skipped 33 because I covered it in that Last one returns are in the terms Everybody who's watching this if you Make money doing anything that's inside Us on I'll pay you a billion dollars for Your business but it's on my terms and I Can make that deal every time and not Lose money understanding the terms of
The agreement and how many different Ways you can make terms and the only way You do that is through having the Conversations and trying to structure it From learning from other people 35 Whenever possible use house money if you Have the opportunity to recoup your Principal and still have money in the Game do that then you can get super Aggressive with the Investments and Things like that that you're making but You're doing it on a house money you're Doing it with no chance of losing Principle 36 always know how to get your Money back you have to know the exact Way of doing it not just like oh yeah I Can get my money back she's like no but But how would I do it walk me through Each of the steps so that I have full Understanding of how this would work if They actually don't mean it then they Won't have a way to do it you'll be able To sniff something out immediately 37 Cash flow is King all right and that's Both on a personal level and on a Business level so for you your cash Flows can be dictated by your income Minus your expenses it's really your Savings slow if there's one thing that You get from Money Rules is that you'll Be switching your metric towards what am I saving every month rather than what am I making every month 38 buy for Forever This is a warrant confident in Charlie
Mungerism Charlie said the money isn't Made in the buy or the sell it's made in The weight if you could never sell Anything you buy when you are buying you Could never get out of it then you buy Differently and you buy super long and Then ultimately that's what doesn't Interrupt the compounding process and That's what unlocks huge wealth later 39 You heard me say it earlier but fomo Means go slow you feel fomo it means Slow down it means take a second give a Breather put some space between you and The decision the only reason you feel Fomo is because your time rest is too Short 40. if you can't afford to lose The money then don't use the money if You're like this is my last dollar then It's probably not a good idea to risk it Right which is why we always have the oh fund 41 peace of mind can be bought And it can be sold if there are Situations where you're like man this is Going to keep me up at night don't do it Peace of mind can very much be bought And sold and I can tell you make much Better decisions when you've got it 42 And final a lot of people think about Diversification in terms of industry but They don't think about it in terms of Capital stack a bank for example is at The top it's a preferred creditor it's a Reason a lot of banks don't money and It's because they're the first creditors
So you can think about diversification Between like stocks crypto businesses Whatever you can also think about it Vertically in terms of where am I Sitting on the stack if you think about Those in terms of both types of Diversification When the tide goes out You're the one who gets your money back First
