What Crypto and Real Estate Taught Me About Investing | Ep 710

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.9 • 4.4K Ratings

🗓️ 13 May 2024

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

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Summary

“The further away I get from my core, the more money I lose.” Today, Alex (@AlexHormozi) shares insights from his experiences with cryptocurrency and real estate investments, emphasizing the importance of operating within your sphere of competence. Highlighting lessons learned from financial losses, the episode underscores the value of skepticism towards enticing deals, the need for due diligence, and the benefits of leveraging personal expertise in investment strategies for wealth creation and preservation.

Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.

Timestamps:

(0:36) - Big loss from the crypto craze

(2:18) - Sticking to your sphere of competence

(6:29) - The real estate misadventure

(15:30) - Investing wisdom: Slow down and stay in your lane

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Transcript

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0:00.0	Whenever I feel that little tickle in my stomach or the back of my neck
0:02.6	where I'm like, ooh, I feel like I'm missing out. I literally just stop and I say wait.
0:06.7	And this takes practice because unfortunately you have to get your ass beat over and over
0:10.3	again to really learn this lesson but now I recognize what FOMO feels like.
0:14.0	And FOMO means slow down.
0:16.0	This isn't where you're going to make your money.
0:21.0	Welcome to the game where we talk about how to sell more stuff to more people in more ways and build businesses worth owning.
0:26.0	I'm trying to build a billion dollar thing with acquisition.com.
0:29.0	I always wish Bessos, Musk and Buffett had documented their journey, so I'm doing it for the rest of us.
0:33.2	Please share and enjoy.
0:36.6	So a lot of you guys know there was the big crypto craze that happened in 2020, I think, and there's been lots of little mini peaks and valleys but probably the
0:44.9	I feel like the craziest one happened during COVID-ish time period and at that time I was
0:49.3	like well shoot I missed out in 2017 because I had a guy who was like,
0:53.6	hey man you should buy this stuff called Ethereum and at the time it was a
0:57.2	hundred bucks and I set up the account I put a million dollars in and like
1:01.4	right before I'm about to click purchase at a million dollars in and like right before I'm about to click purchase at $100.
1:05.0	It like went down to like 93 and I was like I don't know about this and so I
1:09.6	decided not to pull the trigger. Long story short it it then 30X from there or whatever it was, and this
1:16.3	next time around a few years later, so it had been going like this. And then right here,
1:21.4	Bitcoin was at $60,000,
1:23.6	Ethereum was really high too, and I was like,
1:26.7	I called my buddy up, not the same guy, different buddy.
	...

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