You know, when 2008 happened, and I had my billionaire clients and my barber.

I mean, everybody was affected.

And I know some of the people probably watch a broadcaster, people that are entrepreneurs.

And they remember those days and how difficult they were.

And what made me crazy is I've been coaching Paul Tudor Jones, one of the top 10 traders in the history of the world for 25 years.

And I got to see what was going on. And, you know, the people that screwed up our economy and almost destroyed the world economy, I was waiting to see what was going to happen to them. And the way we punished them is we gave them more money. So after about 2010, I said, you know what, this is crazy. I don't have all the answers, but I have a great gift. and that has access to the most successful investors in the history of the world, quite literally. So I decided, okay, I'm going to interview 50 of the smartest financial people alive, people that are all self-made billionaires, nobody from the Lucky Suprem Club. They all earned it. And they all did it different ways, but I want to see if I can figure out what the common denominators are and how they go about it.

So I wrote this book, Money Master the Game, which is like a 670-page monster. That's a big book. It is. But it became number one New York Times bestseller, and it's still the best-selling financial book of this century. It's only 24 years in this century, but doing well. and then I wrote a second book, a smaller one

when we got close, I knew that obviously

there was going to be a bare market. There'd be a drop in the market. No one knows for sure when, but it's predictable. I didn't know it was going to be COVID, so I wrote that book. And I thought I was done. But when I was writing the first book, I uncovered a lot of really cool things. And let me just give you four for your investors there and your listeners. When I interviewed everybody from Ray Dalio or Carl Icon, Warren Buffett, they all invest in different ways. Some are, you know, they're trying to figure out what the largest components are in the world. They're looking at the big changes on Earth, right? Then there's some people there that are trying to buy at the cheapest price, you know, value investors, so many different types. But they had four things in common. And one of them sounds so simple, but it's so different than most investors. Their first of their core four that everyone agreed on was that their number one focus was not losing money, which is completely the opposite of what most investors

are doing.

How do I make more?

How to make more?

And that sounds trite. And it sounds, well, yeah, that's because they have money. And it's not. It's because they understand that assets can change that fast. Real estate can drop overnight. You know, stock market drop 50%. And if a stock or any asset you have drops 50%, then you've got to make

100% to get even, not 50% to get even. It's hard to get 100%. It takes time. And so they know their

number one focus is protection. Now, how do they do it? They use three other core principles. The first one is

asset allocation. I'm sure your listeners or viewers have a good

sense of what I mean by that, but it's big words. It simply means if I had a million dollars,

a thousand dollars, a hundred million dollars to invest. What's most important is not which

piece of real estate I'm going to buy or whether they're going to buy Apple or Microsoft

because those things are going to shift and change. What's most important

is having a philosophy of investing about how much you ever put at risk versus how much you put

at low risk. So, you think it was like two buckets. Bucket one for your investments is,

...