415: Studying Billionaires: The 3 Timeless Principles for Wealth with Stig Brodersen

BiggerPockets Real Estate Podcast

BiggerPockets

Investing, Education, Business

4.8 • 16.6K Ratings

🗓️ 8 November 2020

⏱️ 65 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Ever wanted to know how Mark Cuban, Richard Branson, and Warren Buffett seem to invest with ease? Or how you can leverage and measure your risk to make billionaire financial decisions? On this episode, Stig Brodersen – investor, teacher, and host of the popular We Study Billionaires podcast – brings you his distilled wisdom on success, mindset, the stock market, and the 3 universal traits shared by ultra-elite investors (and no, they don’t include flying first class or eating copious amounts of caviar). Early on in his story, Stig found himself dissatisfied with his job and needing a change. So, he did what any rational person would do, and began studying billionaires starting from the top of the Forbes 400 list. He didn’t get far before he “found his fire,” discovering passion and community in studying the stock market and the most heralded investor of all time: Warren Buffett. He has since interviewed hundreds of guests on his podcast, and unearthed countless pearls of wisdom that he shares with you in this episode. You might be thinking: “They’re interviewing a stock market investor on a real estate podcast?” Yes, and any real estate investor could learn a thing or two! As a practiced student of the financial markets, Stig calls out all-too-common mistakes made by new investors, and shares a blueprint for you to use to determine if and how to get started in the markets, regardless of experience. In This Episode We Cover: The 3 timeless traits of billionaires Why real estate investors should “cross-train” in the stock market Assessing best- and worst-case scenarios Why you need to "resonate" with your chosen asset class Why real estate is an asymmetric bet with high reward for relatively small risk How to get into investing in the stock market with little-to-no experience Common mistakes of new stock market investors How a BiggerPockets member saved Stig's life on an overseas trip (really!) Links from the Show BiggerPockets Podcast The Investor's Podcast Network's list of best investing podcasts The Investor Podcast Network Click here to check the full show notes: https://www.biggerpockets.com/show415 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the BiggerPockets Podcast Show 415.
0:04.0	Billionaires take asymmetric bets.
0:07.0	And you know, you always hear that, you know, great risk, great rewards,
0:12.0	and you know, billionaires would just disagree with that. I mean, you could still take
0:16.1	bats that if you're right, you would be ridiculously rich, and if you're wrong, you just didn't lose much you're listening to bigger
0:24.8	pockets radio simplifying real estate for investors large and small if you're here
0:30.6	looking to learn about real estate investing without all the hype, you're in the right place.
0:35.8	Stay tuned and be sure to join the millions of others who have benefited from bigger pockets.com.
0:41.8	Your home for real estate investing online.
0:45.2	What's going on everyone?
0:46.2	It's Brennan Turner, host to the BiggerPockets
0:47.8	podcast, here with my co-host, Mr. David Green.
0:51.9	David, thanks for coming back on the show again, man.
0:53.7	I, uh, not that I was worried about you not coming on, but it's good to have you here again.
0:57.6	There's literally nowhere that I'd rather be. Thank you, Brandon.
1:00.6	All right, good. Well, today's show is all about billionaires, and I don't want that to scare anybody off.
1:07.6	What really we're talking about today is some of the habits, the traits, the things that wealthy people do,
1:14.3	and like our guest goes into specifically how you can apply these things to your life.
1:18.9	In fact, he goes into three specific traits that billionaires have that you can adopt to your life today to
1:25.5	immediately become more successful in pretty much every area your life that stuff applies to which is pretty cool.
1:30.3	So we're going to get to that in just a minute but before we do
1:33.1	when we get to today's quick tip all right so our quick tip is simple so
	...

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