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The Compound and Friends

Josh Monday Meeting 7/15

The Compound and Friends

Josh Brown

Business News, Business, Investing, News

4.72.2K Ratings

🗓️ 15 June 2019

⏱️ 6 minutes

🧾️ Download transcript

Summary

This is not a business of numbers. It uses finance, but it is not even a business about finance. This business is a business of communication. Of relationships. Of empathy. Josh discusses the topic at an all-hands Monday meeting at Ritholtz Wealth Management. 1-click play or subscribe on your favorite podcast app   Subscribe to the mini podcast on iTunes or Spotify   Enable our Alexa skill here - "Alexa, play the Compound show!"   Talk to us about your portfolio or financial plan here: https://ritholtzwealth.com/   Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

This business is not about finance at all. We are financial advisors. We work in the financial services industry

0:07.0

But it's not about numbers. We practice finance, finance, if you will. We use numbers all the time, very important,

0:17.0

but this business is not run on a calculator, it's not run on an Excel sheet or on performance reporting software.

0:25.0

This is a communications business.

0:28.0

It's what we do.

0:30.0

It's an empathy business.

0:32.0

It's about relationships. It's about trust. I'm going to tell you something that an older gentleman told me almost 20 years ago

0:41.0

when I first started working very very early my career he said oh and and

0:47.8

i think this is like one of those timeless pieces of wisdom that

0:51.7

never goes out of style never It's never not true. Cannot be

0:54.4

invalidated by anything. And he told me, and some of you heard me say this

1:00.4

before, all things being equal. People do business with people they

1:06.4

like. I'm going to repeat that I think it's really important. All things being

1:10.7

equal, people do business with people they like. Last week I was

1:16.1

talking about the fact that we don't invest in technology. We treat technology as

1:21.7

a cost which is exactly what it is. I told you that we choose to invest in people

1:27.9

specifically we invest in you people. What do you mean you people?

1:37.4

You people. I want to show you why using a couple of quotes from Rithold Slack okay this is Joey don Joey, don't blush.

1:43.0

Two days in and it's already been a monumental week.

1:47.0

One, Prospect cried tears of joy after going through call to.

1:52.0

During our discussions discussions it became increasingly

1:54.9

clear level of frugality he and his wife were practicing was not grounded in

...

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