#214 with Ramit Sethi - Why You Should Have a Diversified Investment Portfolio

My First Million

Hubspot

Entrepreneurship, Investing, Business

4.8 • 2.7K Ratings

🗓️ 27 August 2021

⏱️ 84 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In this episode Sam (@theSamParr) and Shaan (@ShaanVP) are joined by Ramit Sethi (@ramit), the founder of I Will Teach You To Be Rich. They start off talking about course businesses and Ramit shares what he's learned running courses for over 15 years. Ramit shares a few ideas for businesses and then the trio talk about different strategies around investing. Shaan shares why his approach is so different from what Ramit recommends, and he breaks down his own asset allocation. At the end Sam & Ramit share their personal money rules. --------- * Follow Ramit on Twitter: https://twitter.com/ramit * Ramit's new podcast: https://iwt.com/podcast * Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://www.mfmpod.com/p/hotline/ * Support the pod by spreading the word, become a referrer here: https://refer.fm/million * Have you joined our private Facebook group yet? Go to https://www.facebook.com/groups/ourfirstmillion and join thousands of other entrepreneurs and founders scheming up ideas. --------- Show notes: * (1:06) Ramit's new podcast * (5:02) An update on Shaan's Power Writing course * (7:07) Ramit's course business * (11:30) Who is Jay Abraham * (16:43) Should MFM get a new name? * (20:14) How long can Ramit run his empire * (24:11) Ramit on trolls * (27:31) The history of courses * (34:12) Ideas around pets * (37:35) Ideas around cosmetics * (39:54) How Ramit would differentiate a product * (43:47) Ramit's money hacks * (46:00) How Shaan approaches investing * (47:00) A little anecdote about camera issues * (47:58) Back to Shaan's investment approach * (50:47) What game are you playing and what risk can you tolerate? * (53:26) What Shaan's goals are with investing * (57:11) Ramit's 10 money rules * (59:35) Sam's money rules * (1:02:09) Taking out loans on your assets * (1:05:33) How Ramit thinks of risk versus rewards * (1:17:10) Ramit on Sam's engagement ring story * (1:21:04) It's not all about the metrics

Transcript

Click on a timestamp to play from that location

0:00.0	In our copywriting program, we say be clear, not clever.
0:05.0	Clear, not clever.
0:07.0	It's really hard to be crystal clear.
0:10.0	It's super easy to create marketees and be clever.
0:12.0	But in the grand scheme, we believe clarity wins.
0:15.0	Alright.
0:30.0	Quick break to tell you about another podcast that we're interested in right now.
0:33.0	HuffSpot just launched a Shark Tank rewatch podcast called Another Bite.
0:38.0	Every week, the host relived the latest and greatest pitches from Shark Tank,
0:41.0	from Squatty Potty to the Mench on a Bench, to Ring Doorbell,
0:45.0	and they break down why these pitches were winners or losers,
0:48.0	and each company's go-to-market strategy, branding, pricing, valuation, everything.
0:53.0	Basically, all the things you want to know about how to survive the tank
0:56.0	and scale your company on your own.
0:58.0	If you want to give it a listen, you can find another bite on whatever podcast
1:01.0	that I've been listening to, like Apple or Spotify or whatever you're using right now.
1:05.0	Alright, back to the show.
1:06.0	So, Rami, have you, you can be honest.
1:09.0	Have you ever listened to the podcast?
1:12.0	I've heard your clips and I love them.
1:16.0	Alright, good answer.
1:17.0	You know what you're getting into.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Hubspot, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Hubspot and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.