What's up! It's episode 86 of Payne Points of Wealth and the sky is literally falling. We're in an official bear market now in the S & P 500. NASDAQ is down over 30%. The headlines get direr by the day. War continues in Eastern Europe. And Bitcoin, we warned you about Bitcoin, is melting down. Well, we're gonna break it all down for you today. We have a special guest on the show today, Lee Robinson, co-founder, and CIO of Altana Wealth, an asset management firm running all different hedge fund strategies. He predicted the credit crisis between 2007 and 2009. He's seen a lot of bull and bubble bursts, written a great book called "The Gathering Storm", has a BA in mathematics from Cambridge University, and he is a good friend of Ryan's.
You will want to hear this episode if you are interested in...In this episode, we talked with Lee Robinson. We asked him if he could share only one piece of advice, something that he's learned over the years that he could impart on the rest of us, what would it be? This is what he has to say.
"I think the biggest mistake that I see in finance is that people cannot work from forward back to the present. They get panicked, they see a company that has a profit warning because it couldn't satisfy an order. Well, those orders are still going to come, it's still a good business. So there's a lot of short-term emotion and not enough rational thought about long-term. And I think if you're investing, I'm not talking about trading. Traders are different people. They can buy high and sell higher. They can sell low and it goes lower. But as an investor—trust, try, and think forward. When you're in a pandemic and Carnival is not allowed to do any cruises, does that mean that cruising is over forever and that business is worth zero? Probably not. So I do think sometimes investors need to think I am investing for the long run. What does this business look like in the long run? And then think, well, is it too expensive today, rather than thinking I'm buying it today can it go up tomorrow? So I think investing is something people don't understand. They confuse it with trading.
This week on the tipping point: Financial untruthsFor anyone who's getting close to being financially independent or going into retirement, there is this myth that you only need 80% of what you need when you're working when you're retired.
We know that's just not true. Not only do you spend a hundred percent of what you spend today, in the first few years of retirement, you're not going to work anymore but you are going traveling, you're spending more time with your kids and your grandkids you’ll probably spend close to 120%. That's why it's so critical to have a strategy where you're updating your financial plan on a systematic basis. Our e-money portal because it updates everything in real time so it's easy for us to do a planning session if someone decides to take a longer vacation, buy
This week’s hidden facts of financeSpecial guest Lee Robinson from Altana Wealth
See if you qualify for a complimentary financial review from the Paynes
Connect With Ryan, Bob, and Chris
Subscribe to Payne Points of Wealth
On Apple Podcasts, On Google Podcasts, On Spotify
Three Forces That Determine Everything, Ep 41
Beware of the Shiny Brochure, Ep #40
From Common Questions to The Right Questions?, Ep #39
The Last 10 Years Aren’t Going To Look Like The Next 10 Years, Ep #38
Simplicity Over Complexity, Ep #37
Inflation, Bonds, & Bitcoin with Kenny Polcari, Ep #36
Calling All Financial Procrastinators! This Show is for YOU!, Ep #35
Financial Products Don’t Sell Themselves And Those Who Sell Them Don’t Do It For Free, Ep #34
Some Like It HOT...We Prefer Profitable!, Ep #33
Learning a Payneful lesson, there are no new eras in investing, Ep #32
Are You Positioned For Last Year or is Your Portfolio Thinking Ahead?, Ep #31
Questions To Ask Yourself When It Comes To Risk In Your Portfolio, Ep #30
The Urgency Of Financial Planning, Ep #29
Do You Have A Fiduciary Acting In Your Best Interest?, Ep #28
The Most Important Age to Focus on Your Financial Plan is...RIGHT NOW!, Ep #27
Ironic Things When It Comes To Investing, Ep 26
Positioning Today For Tomorrow & Preparing For The Red Zone, Ep #25
It’s Easy To Go Up, When You’re Already Down, Ep #24
Mounds of Money and Mounds of Speculation, Ep #23
A year into a pandemic and how it’s impacting your future?, Ep #22
Create your
podcast in
minutes
It is Free
The emPOWERed Half Hour
U.S Property Podcast
Aligned Money Show
Dubai Property Podcast
The Ramsey Show
The Clark Howard Podcast