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The Tai Lopez Show

#585 - Are We in a Recession? Should We Buy Stock Right Now?

The Tai Lopez Show

Tai Lopez

Business

4.86.9K Ratings

🗓️ 24 March 2020

⏱️ 60 minutes

🧾️ Download transcript

Summary

We face a very unique situation right now with the current pandemic. Coronavirus/Covid-19 is driving the economy downward drastically and we certainly weren't prepared for it. So with that said, what are you going to do about it in your world? There's a lot of risk but there might be opportunity, too.


"As long as cryptocurrency remains hypothetical, it'll be more volatile." - Tai Lopez

(click to tweet)


Points to keep in mind:

  • The world order is bound to change in light of today's circumstance.
  • You can either freak out, or you can stay calm. What's gonna happen is what's gonna happen.
  • Narcissism and Machiavellianism are completely different personalities.
  • Always be mindful of both sides of the narrative,
  • Cryptocurrency can be a volatile and risky market.
  • Your investing should be primarily in things you have control of. 
  • A key rule of thumb to investing is buy when the market is low; sell when the market is high.
  • Live your life with caution, but don't live your life out of fear.
  • You should only be putting walls up after an experience. Not before.
  • Don't be intimidated by the powers that be, but don't be disrespectful.
  • Living a reactionary life means you're never prepared for what's next. Be proactive, not reactive.


"Buy low, sell high." - Tai Lopez

(click to tweet)


Summary: In this era, there's a lot of fear and chaos throughout society. Everyone is reacting to things rather than preparing for them. Don't fall into that stream of living.

Live a life of strategy.


"If you always react, you never strategize." - Tai Lopez

(click to tweet)

See omnystudio.com/listener for privacy information.

Transcript

Click on a timestamp to play from that location

0:00.0

One of my favorite palms was my chief,

0:03.0

to Comsa, who was a Native American.

0:06.0

He said, so live your life that the fear of death is not into your heart, man,

0:11.0

just like, focus on caution but not fear there's a fine line between

0:16.2

operating fear becomes illogical. What a world we live in, right?

0:25.0

What a world we live in, all right?

0:29.0

I thought I want to pop in here.

0:30.0

I haven't been live in a long time.

0:36.0

What's the saying?

0:40.0

We have nothing to fear but fear itself. Something like that.

0:42.0

Is that Winston Churchill?

0:43.0

Who can name that quote?

0:45.0

I feel like we live in dark times, but I'm reading an interesting book.

0:50.0

It's called The Splendid in the Bile.

0:53.5

It's about World War II, Winston Churchill,

0:56.8

and fighting the Nazi.

0:59.1

The Nazis that were dropping bombs almost daily on London.

1:02.0

People were afraid for their lives.

1:03.5

It's very similar times to what we live in now.

1:05.7

And I'll tell you,

1:10.2

at some level,

1:19.2

there's gonna be a reshuffling of the deck the way the world order has been, the way the economy has been.

...

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