Work Smart, Not Hard – How Anyone Can Invest | Codie Sanchez EP 204

The Mikhaila Peterson Podcast

Mikhaila Peterson

Society & Culture

4.6 • 2.1K Ratings

🗓️ 26 June 2024

⏱️ 69 minutes

🔗️ Recording | iTunes | RSS

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Summary

I’m joined by entrepreneur and investor, Codie Sanchez! Codie has spent a decade on Wall Street and investing millions of dollars into multiple businesses. In this episode, we discussed how to buy businesses without assets, her upbringing, hiring the right people, knowing when to invest in a business, the mental toll of ambition, how to move up quickly, and much more. Enjoy! ‎ Founder and CEO of Contrarian Thinking, one of the fastest growing financial media businesses with 6 million followers and 100 million monthly views. Founder of Contrarian Thinking Capital, a venture capital firm, and Main Street Holding Company with 25+ small or what we call “boring businesses.” Think of car washes, laundromats, property management companies, etc.

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‎ —Chapters— [0:00] Intro [1:30] Codie’s background [3:57] What did Codie’s parents provide [6:25] How to motivate your kids [10:30] Fuller Health [11:20] Codie’s achievements [14:40] How to know when to invest [16:20] How to own a business without any assets [21:05] Building a company vs. buying a company [23:21] How to hire the right people [29:56] Codie’s journalism career into finance [32:10] Air Oasis [33:37] Why people desire money [38:22] How can people learn [40:38] Can aspirations be mentally unhealthy? [46:19] Portfolio trends since 2008 [49:18] Difference between angel investing and venture capitalism [50:12] Learning to build a business online [57:38] How to move up quickly [1:03:45] Codie’s upcoming plans

Transcript

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0:00.0	Some of the statistics are fascinating.
0:01.6	Only one out of ten Americans die as wealthy,
0:03.8	which means excess money that they can pass on
0:05.8	to the next generation.
0:07.0	And what I worry about is I remember 2008 vividly.
0:10.4	A few people that I knew tangentially and finance committed suicide.
0:16.5	You know, men defined as a protector and a provider stopped being able to provide and protect.
0:22.5	And so I do worry about that.
0:24.1	Like do not wrap yourself in your success.
0:26.8	Wrap yourself in maybe how hard you work.
0:29.4	If you are slightly competent,
0:30.9	you have very few people who will compete against you as long as you are willing to do
0:34.0	an irrationally longer and harder amount of work than anybody else it's actually all it takes.
0:39.7	This is literally what all the richest people in the world do.
0:47.0	Cody Sanchez, welcome to my podcast.
0:49.0	Thanks for having me.
0:50.0	Thanks for coming down to Scottsdale.
0:52.0	I'm excited to be here. I was telling you I grew up here so this is my hood.
0:55.6	And then you ran away and left. I did and I moved here. You did. Yeah, too hot for me.
1:00.8	You move in. I moved to Austin. I was only here for one
1:04.8	summer. It was horrible. Yeah, it's a whole different vibe here. People say it's a
1:09.6	dry heat and that's how I know that they've never been here in the
	...

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