Shownotes
BIO: 15 years of experience running his own business, more than enough money, time, and freedom; now Nat Berman teaches the practical steps he’s taken to achieve these results in what now takes only 3-4 hours a day.
STORY: Nat got wind of a stock that Jim Cramer would tout on his show and invest in. Nat decided to invest $30,000 in the stock without further research. He lost the money in a short period.
LEARNING: Do your research. Never buy a stock that somebody tells you about.
“Pause. Read. Invest.”
Nat Berman
Guest profile
After fifteen years of experience running his own business, more than enough money, time, and freedom, now Nat Berman teaches the practical steps he’s taken to achieve these results in what now takes only 3-4 hours a day.
Worst investment ever
Nat knew a guy that worked for Jim Cramer directly. He got wind of the stock that Cramer was going to tout on his show and would put in his charitable trust. Nat put in $30,000. He lost a lot of it in a short amount of time.
Lessons learned
- Do your own research, assess your risk, and understand what you’re comfortable losing.
- Everybody is smart enough to make their own investments.
Andrew’s takeaways
- Invest in the S&P 500 or an index fund if you’re learning how to invest.
- Never, ever buy a stock that somebody tells you about. Make your decision that this is the stock that you want to own for a particular reason.
- Build a portfolio of about 10 stocks to diversify your risk.
Actionable advice
Whenever someone tells you about an amazing stock, pause, read about it, and see what kind of news there is about it. Check out the financials too. Just don’t do anything for at least 24 hours to a week.
No.1 goal for the next 12 months
Nat’s goal for the next 12 months is to be proud of himself and be able to look into the mirror every day and know that he’s satisfied and comfortable with where he is.
Parting words
“Stay focused.”
Nat Berman
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