55: The Philosophical Investor with Gary Carmell

Get Rich Education

Keith Weinhold

Realestateinvesting, Income, Passiveincome, Money, Business, Wealth, Investing, Careers, Realestate, Kiyosaki, Real, Rich, Creatingwealth

4.3 • 602 Ratings

🗓️ 30 October 2015

⏱️ 49 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

#55: Gary Carmell, author of “The Philosophical Investor: Transforming Wisdom Into Wealth”, is our guest today.

Gary discusses how you think about investing, interest rates, and monetary policy.

Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Maverick turnkey RE webinar opportunities.

Listen to this week’s show and learn:

01:32 A frustrated GRE listener in the Netherlands gives programming feedback.

08:11 Most real estate is a bad investment. Maverick Investor Group’s 2015 report excerpts.

13:16 Interview: Gary Carmell, author of The Philosophical Investor: Transforming Wisdom Into Wealth.

16:21 An example of transforming wisdom into wealth.

17:43 Investors get discouraged at exactly the time they should be buying.

19:56 In investing, discipline and courage often trump hard work and intelligence.

21:53 “The Munger Moment.”

24:00 You never know when a market is at the high or the low.

24:59 Real estate investing is a game of attrition.

27:18 Does Gary see a better investment class than Keith’s preferred investment?

30:14 Why institutional RE investor groups buy low yield, Class A properties.

32:46 Cap rates. Recency bias. Interest rates.

34:48 Inflation vs. Deflation.

37:08 Demographics. An aging population’s effect on world economies.

39:14 QE vs. interest rate hikes.

40:19 LIBOR and variable interest rate loans for real estate.

44:24 Arbitrage creation.

Resources:

Book: The Philosophical Investor: Transforming Wisdom into Wealth by Gary Carmell.

Gary’s website: GaryCarmell.com Company website: www.cwscapital.com

Maverick Investor Group’s report, “How To Avoid The 7 Biggest Mistakes Investors Make In The 2015 Boom Cycle” authored by Matthew Bowles.

MidSouthHomeBuyers.com or call (901) 217-4663 for Top-Notch Turnkey Rental Properties.

NoradaRealEstate.com or call (800) 611-3060. Your Premier Source for Turnkey Cash-Flow Investment Property.

GetRichEducation.com - that’s where to subscribe to our free newsletter, receive turnkey real estate webinar opportunities, and see all Events.

Download the GRE Android App at Google Play to keep the GRE icon right on your phone’s home screen!

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Transcript

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0:00.0	Get Rich Education is brought to you by Norrata Real Estate Investments and Mid-South Homebuyers.
0:10.8	Welcome to Get Rich Education with Keith Weinhold, giving you information and ideas on the investment that has turned more ordinary people into millionaires and billionaires
0:22.7	than anything else and can provide you with more wealth and happiness than you ever thought
0:28.2	possible. Now, here's your host, investor, entrepreneur, business owner and educator, Keith
0:36.2	Weinhold.
0:40.2	This is Get Rich Education, episode 55.
0:44.0	I'm your host and my name is Keith Weinhold.
0:46.6	Thanks for being here for wherever you're listening.
0:50.2	Coastal Galveston, Texas, the streets of Teaneck, New Jersey, the fertile rice paddies of
0:56.6	Vietnam's Macong Delta region, or the mountainous green coffee country of Bocete Panama,
1:02.7	I'm here to build your wealth. So welcome to the show. Today we're going to chat with the
1:07.8	author of the philosophical investor Gary Carmel on how you think about investing and also U.S. and global monetary policy.
1:17.6	Speaking of being an international show, we've got some constructive criticism here from an avid yet frustrated GRE listener after he heard the last show. This is from Ricardo in the Netherlands.
1:31.7	Hi, Keith. Ricardo here from the Netherlands in Europe. I'm glad you have this application. It's
1:37.8	pretty nice just to speak up, what goes to your mind because the hassle of having to go to the
1:43.1	email and writing, etc.
1:44.4	Takes forever. And it also takes forever for you, not just for us. So I guess you get a lot more
1:49.4	feedback this way. Anyway, I just want to express, I mean, I love your program, first of all. So
1:53.9	this is not at all a critic, but it's just constructive feedback from somebody who listens
1:58.9	for so long and is European based, not US.
2:02.3	I think the program is very US-centric. Today's program, again, credit report. I mean,
2:08.1	this is pretty useless for us in Europe. And it's not the first or the second or the third episode
	...

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