Hi guys. Welcome back to the weekly segment that Mike and I do where we talk about your guys comments and questions and give our 2 cents and just talk a little bit more about it in depth. Today we had a really interesting topic and I’m excited to get into it. But before we do that, I wanted to say make sure you guys like and subscribe all comments out the algorithm. And yeah, we really appreciate the feedback. It gives us some indication on what you guys want to see and where we can kind of take the next episodes of this. It’s also a really good way of engaging with you guys just to see what you prefer. So yeah, just make sure you guys do that and click the notifications bell as well so you get notified every time we upload a video. YouTube is not the best at telling you in your subscriptions box sometimes they’ve had issues with that in the past, so make sure you don’t miss a video. Click the notifications bell. For today’s topic though, I wanted to talk about a comment that we got on one of the videos, Mike and I thought you had an interesting comment follow up, but the comment is from investor today. Oh,
That means trouble when go just says it’s interesting. It means it’s, he’s talking in code
Always. I always speak in code. It’s the Italian in me, but the comment is from investor today and it says, interesting. Although I’d have to work on being a strict boss to report to for people with only five or six figure accounts or less even. Do you think it would be worthwhile doing a video or two about small to mid-cap trading for people that really want to up their account, want to size up their account? What strategies do you think can work? Is the risk worth it? I have yet to build up the courage to trade these because of fear, of lack of liquidity and major volatility. Thanks. And your comment to that was
Go forth and procreate with yourself. No, what was my comment? No,
It was interesting and I thought we should talk about it a little more because you said this channel is more about human behavior than trading strategies too. It’s not my place to give that type of advice to someone while I’m in the dark about their situation. We do that in the coaching, but I have a great deal more of information at that point and it’s private. So tell me what you thought about the original comment and your response. I was a little curious.
Every instrument on planet earth is illiquid when you need to get out. Doesn’t matter if it’s Nvidia, doesn’t matter if it’s whatever the darling is of the day, right? Cause you got to remember, most people are lazy. They kind of see what they can see and they trade too big and they get in something. But if you’re talking with someone who has five or six figures in their account, say they even have 800 K, that’s not enough money to trade a certain situation. So large that liquidity is a problem. And I get questions like that, oh, I can’t trade these things like cocoa or lumber. But if you’re trading ones and twos and the volume, volume doesn’t equal liquidity, but people overthink this, they say, oh yeah, stuff it’s not, it’s kind of thinly traded. Well, yeah, compared to Adobe or the names that have tens of millions of shares trade every day.
But if you’re trading ones and twos my comment, if we were in New York sitting at a cafe, I, I’d be like, Brandon, what do you care? You’re trading ones and twos, there’s 2,500 contracts trading every day. You can easily move in and out. You know what I mean? Yeah. Every market brings with it an issue. Options. The spreads can be wider. So if people have a smaller account, that is a cost to your account. You see? So you have all these trade offs. I did a study once where I looked at the big commodities and I looked at the biggest stocks and I found the share price movement, even on Nvidia, is more volatile than gold futures. So the thing is, it really comes down to how are you paying for things? Because a small bit of volatility can really swing your account. So you have to adjust everything by position size.
I don’t know why someone would come and think that there’s opportunity in one asset class over the other, I guess is why. So that’s where I would do the deeper dive. Why pick smaller mid-caps? Like why? What makes you think the opportunity is there? Because they’re smaller priced. That’s not necessarily true. It’s not absolutely true for sure. So I just kind of figure what, there’s not enough information known to that I don’t know enough about the person asking the question as to why they’d even bring up small or mid-caps. And with five figure account and you trade 10 shares, you don’t have a problem with liquidity. I think that’s a wive’s tale or there’s a boogeyman,
Right?
Yeah. So the bigger question is why does that person think that smaller mid-caps are suitable as an entry point? What would make them to think about that and then to worry, because people mind fuck themselves over things all the time. And I think is case of that
Interesting to me. I thought you had an interesting response because we talk about how your coaching is really in depth and tailored to each person and stuff. And I really value that overall as any kind of coach. I’ve been coached by a lot of different guys and I get to see their styles of teaching and I think to me that was the best answer you could have ever given is, look, bro, I don’t know anything about your situation. So yeah, it’s really not smart of me. It’s ignorant of me to leave a comment and say, oh, here’s exactly what you should do because it might not fit that person’s needs and maybe you misinterpreted their question or their comment. So I just thought that was a really, really good response is you know, want to know more about the picture basically. I think it takes a lot to do that.
Sometimes I think, I’m sure some people just like to talk and they’re like, oh, here’s exactly what you should do. You should follow my five steps and should next thing you’ll have a huge account and you’ll be worth a hundred billion. I thought it was interesting how, you know, see that a lot on YouTube, especially with people who are into finance and all that stuff. They really talk about follow my five steps. And if they leave a comment like that, there would’ve been this elaborate document available on Google Doc somewhere detailing, but it might not have fit that person’s needs. And I thought that was a really cool answer that you gave.
So when I was coming up and I’d ask people questions about what do you think about this? Most of them were dream killers because in reality I was looking for emotional support. That’s what I was really looking, cause I was going to do what I wanted to do anyway. That’s how I’m built. I don’t need anyone’s permission, it’s fucking my world. But I was younger and I’d lack the confidence. So I would ask these folks questions kind of looking for encouragement more than actual data coming from the answer. So I always remember that when people ask me questions like that, and I don’t want to crush anyone’s dreams because for all I know the person wants to be the best small cap trader on planet earth because that would kind of be my goal if I was going to do that first, be the first version of me and then set a new standard in doing it.
You see what I’m saying? Always have a goal, keep moving forward. But I find that people don’t understand the nature of markets. So they come up with questions and it’s not their fault because like you said, why do say here, follow these five steps if you want to make it, if you want an Instagram post to go viral, and those guys are marketers and especially the trading community, the guy, you have guys who are doing this for one or two years, you know what I mean? And they kind of got lucky because two years is not really enough time to allocate anybody money. And now they’re selling their system on the internet. And so people have recency bias. You know what I’m saying? Who’s better? Who’s best basketball player ever? It’s Michael Jordan. You could say it was Bill Russell for sure, if you’re looking at rings, if you count points, LeBron.
But if you wanted excitement, if you wanted to see a dominant player who raised the level of play of everybody around him who went six for six, don’t give me any other answer, but Michael Jordan, and fuck off if you don’t like my answer because I watched it. But the younger generation who your age, you didn’t see Michael play, you didn’t see him play a couple years ago. They took a poll in England and they said, what’s the best band ever to come out of the uk? You know what the answer was? I’m going to say fuck again, Oasis, Oasis, give me a rope and a fucking tree.
But recency bias, right? So you have to be careful, you have to know your history. And that’s one thing that I study, what’s my favorite book on trading? Extraordinary popular delusions in the madness of crowds because it tells you how people behave. What did Michael Marcus beat into my head? It wasn’t. And we both had copies of Weimar’s PhD thesis on the dynamics of the global cocoa market. But that’s that knowing that stuff doesn’t help you trade it better because trading is a whole other skill. Just knowing something really well and then being able to teach it like you and I are a lot alike, a lot of information, but you also know how to convey it in a very usable manner so that people can kind of decide, should I take action or should I not take action? You see what I’m saying? And so for the poor guy who asked the question on smaller mid-caps, who am I to say whether you should trade it or not?
My encouragement would be whatever it is that you want to trade, just go forward without fear. Because what you’re usually afraid of something that doesn’t exist. And I’ve traded things that are very thinly traded, but that’s kind of the risk of being in the market. And if you’re afraid to me it’s like you’re afraid of losing money because when I look at super liquid names or illiquid names, yes, there are certain things we can’t trade because it’s not like they’re so thin. It’s just that in order for us to get a position where if it moved 10, 15% in our favor, it wouldn’t move the needle on our equity to be worth the risk of being in the position in the first place. You see? So that’s a bigger institutional issue. Most smaller traders or newer folks don’t have that issue. You know what I mean? They will probably if they keep working at it for 35 years. But to this person and to everyone else, first of all, thank you again for commenting. It’s always nice to have people leave comments because we get to learn a lot. But at the end of the day, every instrument that you trade sector, every asset class, they all have their various trade offs that can cause you risk options. I would say the spreads are wider. So you have to pay that bid esque spread to get in, right?
Smaller penny stocks, the markets are full of rumor and conjecture. There’s no real research. They’re usually cheap for a reason, which because they’re hunks of shit. That’s the way it works. Really. Yes, there are fallen angels, but I would say unless you’re some type of deep core value investor or you have experience as an executive, you’re 40, 45 years old and you yourself are a turnaround specialist so you can understand what’s going on. A good example of that was ge, right? It was the darling when Jack Welsh was alive, rest his soul and he was the guy, and then Jeff and Melt got involved and the thing basically fall fell apart on his watch. I don’t know either of those guys personally. I have good friends that I’ve known from when I was a grade school that were presidents of certain divisions there and who are very smart guys are good people, but if you’re dealing with fallen angels, those aren’t really trades as much as they are investments.
And I think GE went to nine bucks a share, not adjusting for splits. So when I hear small cap, do you want to buy a small cap and watch it evolve into a mega cap because that’s an investment. That’s not a trade. I can’t help you with that. You see? Right. Foreign exchange, I stopped trading it because it was 24 7 and I needed to take a timeout. I don’t want the markets open constantly. You see, I want to rest my brain. But when you trade, and especially with the trade with leveraged instruments, I do, you have to treat those positions like a newborn child, which means you cannot take your eyes off them. You see what I’m saying? That’s the type of temperament you have to have, be kind of hyper-vigilant in a way, not watching the screen, but you need to have your stops in place, you need to have the traders on the desk ready to call you.
But the way I take care of it is I normally have a stop in place. I kind of know where my levels are and I act accordingly. So I don’t want to get into recommending asset classes because then what happens is I get more questions like that. Well, where in small caps do you like what I’m saying? And international, whatever. And then sooner or later someone’s going to ask about a specific name. And that’s stuff I don’t want to get into. It’s too easy to do an interview show because of vanity. I got a million friends and I did that going back to oh five. And I realized why am I inviting these folks on the show when I feel I’ve got more, I’m smarter than they are. I got more to say. I’m sure I’m helping my friends talk about books, but it wasn’t allowing me to showcase the kind of stuff I want to speak about.
So when I got into the podcast again, I just, I’m like, I’m going to do monologues of things that I wish I knew when I started and I didn’t. When I did become aware of ’em, I didn’t have the resources of the people to go get. And when I did find somebody, they were usually, I talked about intellectual greed. So it, it’s a question, what do you think of smaller? Like what do you think about veta fish it? I don’t have an answer for that. I don’t have an answer for it. That’s the real answer is I don’t know. And then how do I know it’s appropriate for you? Because when you start talking about investing in certain, or trading and certain styles and techniques and then specific within asset classes, or God forbid you mentioned a name, now you have compliance issues, which I don’t want to get into either.
I don’t want to get into making recommendations to people because I don’t know what’s appropriate for them. I’d have to know the situation much more, have to know a lot more information about that individual to help them understand what’s appropriate or not. That’s why, and I admit it sounds funny in the times that I do talk about things and I say, speak to your financial advisor about what’s appropriate for your situation. I know no one’s going to do that because they want to be running the money. They don’t have financial advisors. But I have to from a compliance standpoint because it says you are doing this on your own. If you decide this is appropriate for you, go do it. I can’t give you a red light, green light. All I can say is know what it is that you’re willing to risk. What are you going to be comfortable losing? Because I can’t give you any type of, any more than an indicator. There are emotional. And I wouldn’t want someone taking a recommendation and then going out and doing something because I encourage them to do it. I would just say, go do it, because the doing of it is going to teach you more than ever I can ever convey on a stupid YouTube show.
Yeah, definitely. And I wanted to say too, you said something really important. You were talking about fear and how it’s a really bad thing and you talk about it a lot on the channel too. We’ve talked about it before. Have you ever read Dune like the Dune books?
Frank Herbert? Yeah. And I like the original movie by David Lynch. I thought it was great. I mean, you have to get David Lynch, but that movie is excellent. Everyone like, oh, it’s the worst movie ever. I didn’t like the newer one, which I own. Wow. And I’m looking forward to see, I’m going to see the remake, the one that’s going to actually feature Fade raha. But yes, I’ve read the books. I know the movie kind of varied as they can.
So I bring that up because one of my favorite things out of that entire book series is when they talk about fear, and he has this fear is the mind killer. I will not fear. Fear is the mind killer. That’s like a saying that I actually had to adopt in racing and competing because it’s, it’s a really good reset. And I found a lot of times that fear does stop you from doing a lot of stuff. And fear definitely runs out of control. You can’t reel it back in if you’re super afraid or it’s really hard to sometimes. So yeah, if I could offer any advice, it would be learn to control fear. Don’t fear. Fear is the mind killer if that’s how you want to put it. But I can give you a good example from personally. I had a tournament yesterday that I played in, and it was really, really funny because I was the last person alive on my team.
It was like one of the last rounds, it was a one V five, so it was me, everyone else had died. I was against the five other people on the other team. And the whole time, when you’re in these situations, they’re called clutch situations. You’re thinking about where to move forward. But a lot of people, what they do is they’re like, oh my God, the odds are stacked against me. It’s a one V five. And they get really afraid and then they just stop making decisions. The fear kind of takes over. But one of the things that I’ve worked really hard on is not being afraid is to think very calm and very calculated. And to get out of those situations by using your mind. And if fear is going to stop you from using your mind, then don’t fear. So it was funny because I was in a terrible position.
I had no supportive utility, but I still won that one V five because I didn’t fear and I just brought every piece together. I put every step by step and I moved forward with a plan that I was creating in my mind. And that’s just a good thing in general about fear, is once you have that little bit of fear, it’s going to stop you from making decisions correctly. So take a step back, have a reset, and then work your way forward step by step, develop your plan, and you know, really have no reason to fear otherwise. You shouldn’t be afraid of failing, especially if you’ve put all of your stuff in the right place, especially if you’ve calculated every decision.
Yeah, I think people, when they look at these types of situations though, there’s a lot more going on because when someone says, I hear there’s their liquidity and this and that, I’m going to guess a person is afraid to lose money. They’re not comfortable feeling all of their feelings. And that puts the trader at a huge disadvantage and really kind of stunts your growth from having a trading edge. Because to me, there’s always going to be something, whether you think it’s small price, small capitalization, or wider spreads, you can develop an edge in any asset class, in any trading style. The question is, do you want to, because I look at the human being as the answer to the question. Most people come in and say, the market’s omnipotent and all this and that. And on some level it is, it’s always right. In other words, I can only trade the price today.
I can’t trade where I think it’s going to go tomorrow. If I’m losing money today, I have to get out. That’s why I don’t negotiate with my stop. I’m like, okay, well right here, right now, the thing is hitting my stop. I got knocked out. You know what I mean? And I would talk about a specific trade. Cause I do have a few in mind. The problem is I don’t want the follow up, right? Cause it’s not that type of show. Well, I was in this thing and I was short, then it spiked and I got stopped. Then the question is, well, how’d you get in? Why’d you get in? How much did you have? And I just don’t want have that kind of show. There’s a million other places where you can go do that, and if that aggravates you turn off the screen and start trading because that’s the best education that you’re going to get.
You’re not going to get it from binge watching YouTube videos on how to trade. That to me shows a lot of insecurity, and I wouldn’t hire that person. Don’t mean to sound like a D I C K, but that’s the way it works. Traders trade, people who binge watch how to videos are people who binge watch how to videos. Yeah. There’s no book anywhere that has definition that says an aspiring trader is someone who spends five hours a day watching how to videos. We’re subscribing to learn their craft. That’s right. That’s something that you’ve given yourself permission to believe, but don’t bring that bullshit to my front door. Yeah, no, for sure. I you can bullshit yourself, but don’t try to do it with me. Okay? Yeah. And I’m consistent, right? If you want to trade, then trade one share, because even if it goes against you, a hundred bucks not going to hurt and you could still earn your craft that way.
You hundred hundred percent. One contract, one micro, just do it. And I followed this advice myself. Like this morning I was painting and I was like, I didn’t have any source material. I didn’t know what I want to do. So I just took piece of charcoal and I started marking up the canvas just to get into the groove. I had no idea it was improvising on guitar. You just have to engage, you have to do it. You have to put some color on the canvas. Then I did something that was really hard. I have a good friend of mine who sold several million dollars worth of art. It’s hanging on the biggest museums. He and his wife went with, we went to see the Keith Harring installment at the Broad a week ago Sunday, and I sent him some of the stuff that I was working on knowing that he’s got a really keen eye. He’s a professional artist. So it wasn’t scary, but it’s like it can be intimidating. Right now you’re sending your stuff to someone who’s in the business of creating something from scratch, selling it and doing very, very well. And someone who I respect, I haven’t gotten the feedback at this time that we’re recording, but all the feedback is good.
So I practice what I preach, and it’s in the doing where you’re going to learn the most. I can’t give you peace of mind on any trading style or any asset class. That’s why I say, if you don’t know who you are, it doesn’t matter what. If you want a day trade, well you have to get ready to sit in front of the screen all day. That’s not who I am. I don’t want to do that. You see, I don’t want to have to watch everything tick by tick. That’s a young person’s type of deal. I don’t know a 60 year old guy who’s doing that because they outgrow it. They realize they can make as much money sitting on their hands. You see what I’m saying? So that’s why I try to be honest with everybody and say, if that’s what you want to do, you’re going to do it anyway. You don’t need my validation because I know human behavior, people are going to do what they want to do. And so, you know, can study everything until you’re blue in the face and you’re still going to have risks that you can’t quantify.
Yeah, yeah. No, well said. I think I had another question for you, and this is a bit of departure from our previous topic. I think you said a lot of really good stuff on investor today’s comment. So thank you again, investor today for your comment. We really appreciate it and I hope we were able to give some valuable input there. But I wanted to ask you, why did you choose Jiujitsu over any other martial art? I also chose jujitsu, so I’ll get into my reasoning, but I wanted to hear what made you choose jujitsu, because I know you have another background in martial arts as well.
So I’m just going to go with it because the question’s coming out of left field, I chose Jiujitsu because a few reasons on the emotional level, I wanted to exercise the discipline muscle. One that I already had that was very mature and very developed from just who I was, who I am, how I was born, how I was able to cultivate that through other life experiences, go into a good school. And then having 35 years of trading experience, I was thinking, is there another way I can exercise or sharpen that skillset by doing something extra trading? So I picked the martial art that way as to why it was because as I was reading about all the other types of martial arts, Elio Gracie and his brother designed jiujitsu to beat everyone, every other type of martial art. It’s the hardest one. So as a personal challenge to myself, I chose that because it was more arduous.
Yeah, that’s why. Yeah, no, I think that’s a really good reasoning too. I mean, when I got back into jiu-jitsu, it was because I quit cycling. I was done racing and I wanted another sport to get into. And I always, as a kid, my mom had me in martial arts, but it was only because of my very Italian grandfather who was very self-defense focused. You got to get that kid in martial arts. He’s got to be able to defend himself someday when people start trying to fight him. And I really thanked him for that because that inspired me a lot as a young kid to want to learn to defend myself and be well educated on that saved me out of a lot of really bad situations, to be perfectly honest with you in high school and middle school. But when I was done with cycling and trying to find another sport, I was like, all right, what do I want to do?
I want to do mma, but I didn’t want to go into MMA and get my head bashed around a ton and be one of those guys who gets in for a month and then quits. That’s not what I wanted to do at all. So I was like, okay, what’s the next best thing that’s based that can be interesting for me? I’m a really intellectual guy. I really like the cerebral aspect of martial arts and how you can get into it and form and technique. And so I said, okay, the next best thing seems like it’s because, you know, would see street bites where guys would be doing jiujitsu and they would win really easily. And even just in the ufc, I would see guys that he would be using jiu-jitsu and just absolutely manhandling people. And his technique with jujitsu, to be perfectly honest, wasn’t the best in the ufc, but it was just the strength of jujitsu that I saw in these fights were a lot of different martial arts were involved where I was like, okay, that’s something I want to try.
And I did it. And I very, very quickly realized, yeah, this is not easy. This is very hard. And I didn’t get educated about the history until you started mentioning stuff about the Gracie’s and he started mentioning stuff about the Gracie’s as well, and he was like, these guys founded it. He kind of taught us about the history while he was teaching and I got really interested in that later on. But it also, like you said, it is probably one of the most disciplined martial arts out there period. I think all martial arts are really good for teaching discipline, but jujitsu has a particular affinity to just mold savages. And that’s what I love about it. I know why
I, you asked, I know why you asked the question now why is that? I said something about a keto. Yeah. And every time I think about keto, I think about the Bushido guy where he waves his finger like Yoda and the guy goes flying and I get it and then Steven Sigal who’s kind of like, I don’t know what’s up with that guy.
Nobody does.
So I thought all of that stuff was cool, but I also know because I was older when I started the Jiujitsu, it wasn’t, I don’t want to get into striking, here’s why. Say you throw a punch at me and you hit me, I throw a counter and hit you back, hit you in the jaw, you go down, you hit your head on the concrete, guess what’s going to happen if I don’t get arrested, I’m definitely going to get sued.
Even if you’re a fucking idiot, I’m going to, and you deserved it, right? Because most of the time when you see someone get cracked like that, they deserved it, right? Don’t throw punches if you don’t want to get hit. And so I’m not really in that business of getting sued. Jujitsu doesn’t really have striking the way you would think moai, kickboxing or boxing would like that. It’s more about, for those of you that don’t know, taking you to the ground, putting my weight into you so you can’t rotate your hips. Any type of sport that deals with swinging a club or a racket, kicking a ball or throwing a ball, it all starts with planting your feet and rotating your hips. That’s where your power comes from. So if I can take you to the ground and stop you from rotating your hips, you can try Hammer punching me on top, but when I put my weight into you, things just got bad for you. And it’s just the beginning because I’m going to smash you. And so what am I going to do? Get sued for hugging you when you were trying to attack me, judge going to laugh your ass right out the court. You see what I’m saying? Yeah. Now I live in a neighborhood where I don’t have to necessarily worried about somebody talking smack or doing that. So again, it’s more the mental game of going six days a week. It’s the mental game of and now teaching it and helping out that way.
So that was my mindset. Everyone wants to be a striker. Everyone wants to be Mike Tyson. But that’s a young immature way of looking at things, right? Because you might think for five minutes that you’ve got a big ego if you’re able to clock somebody, but they’re going to come back and sue you and they’re probably going to win. Whether it’s fair or not, it’s not the question. Now if you do more damage and there’s brain injury or you start knocking out teeth, you’re going to be a judgment against you.
Yeah.
Now you’re working for that guy,
Colby Covington and Jorge, that’s a fantastic example right there for people who don’t know. Yeah, Colby was talking some smack about Jorge. These guys are both in the ufc, they have a whole history. But anyway, Jorge showed up and just clocked Colby Covington on the street, just sucker punched them and he lost a tooth and there was a big lawsuit and realistically it was a stupid thing to do no matter what, but it shouldn’t have been as bad as it was. And now Jorge’s paying a lot of money. I think he went to jail, but there was a lot of stuff that came out of it. And now Jorge can’t fight or something. He’s just got a lot of issues from it. Now
I think his contract is up or he retired. He think he’s going to get into promoting. If I read it, I don’t think he’s fighting anymore. I know Usman knocked him out in his house in Florida and the guy was asleep, like rigor mortis, he was out.
Yeah.
Colby has the kind of mouth on him where you want to see him get punched in the face, you know what I’m saying? Because to me, he’s a peacock. I don’t typically like those types of folks cause they don’t ever suffer. They’re not normal. Everything has to look golden.
Yep.
Right.
Yeah. I just thought it was an interesting point you brought up. And by the
Way, what in the name of Christ the king is Mayweather fighting? John Gotti the third for what is he thinking? Because you hear the stories about him being broke and then he makes these decisions. So it’s rumor in conjecture, but it’s embarrassing for him. It’s embarrassing that he’s doing these things.
I mean, it is embarrassing. I just don’t even want to pay attention to that stuff, honestly. Because it’s like why on earth would you do that? There’s something else going on. He’s got to be broke. For sure. I mean, and there’s the thing where he stole the money from Logan Paul after their fight and stuff. I don’t know if you know about that.
And when you put all your gambling tickets on and you only show your winners, it starts to make you wonder, personally, I don’t give a shit if he’s worth a hundred K or a hundred million, but I don’t, whoever his advisors are, these are bad decisions. There’s a bad look for, there’s a bad look for him.
They, it’s really bad. It’s not. I mean, look, talk about tarnishing a career, but that’s just, people look at it and they’ll be like, whatever. He just wants to fight for money and sure all go ahead man. Do what you got to do, I guess. But well give the
Money to charity, do it to create the attention and then sign a bunch of autographs, sign some, you know, sell that memorabilia up for auction and donate it to kids’ cancer or something like that. But yeah,
That’s what Tyson did. That’s what Tyson did. His last couple fights and he, they’re just exhibition matches, right? But still, it’s funny, you’re fighting these guys who are, nobody’s in, you’re just doing it for money. It’s like, yeah, sure, get your money. But you had the chance to do that was he was undefeated or something, right? He had a crazy record in boxing.
No, there’s no doubt in terms of when he was doing it, he was, he’s the real deal.
He could have made his money then, and it’s just like, it’s clearly there’s something else going on obviously. Yeah,
I don’t know what it is, but it can’t be good unless if he wants attention, he can start a YouTube show. He could start a promotion company like Oscar de Lahoya. There’s a lot of things he can do. He’s well connected, he’s a big draw. He can do things like, look what Conor McGregor did with proper 12 Look with George Clooney and Randy, am I going to say his name? Gerber, right? That they did the, what’s that?
I think that’s right. Yeah.
Cindy Crawford’s husband. I don’t mean to mess up his name, just don’t know him that well. They created the tequila company and sold it. So there’s got to be those types of opportunities for Floyd.
I think as a brand though, his reputation’s kind of tarnished because of all the abuse and the allegations. I think it’s actually, I think he was convicted as far as I’m aware. But yeah, I think his brand would be more of a tough sell for sure. And now Connor’s brand is a tough sell. I thank God he did it when he did, but man, if he went and did proper 12 now, I don’t think it would be that good. He had good timing with his proper 12 business for sure.
Well this is America. People can do, so many people tend to look the other way. And you think about it, look at the mafia guys now who have YouTube channels and shows these, the murderers.
Yeah, that’s pretty like Sammy the bull, I think
Sammy the bull. Interesting. Sammy the bull killed one guy. He makes you think, yeah, he had conspiracy to commit murder, but John Elite was the guy who pulled the trigger. I got used to you. I’m from New York City, I know who was actually the button and who’s, who was calling the shots. So Sammy likes to make you think that he’s responsible for all of that. But he killed one guy in 1976, which in and of itself obviously is a cardinal sin, but John was the guy who did the work.
Of course. Yeah. Yeah, I know that stuff too. It’s just interesting people, I think all that stuff, like you mentioned, it’s really funny how mafia guys now are on YouTube and stuff and people are just like, eh, it’s cool. I mean it’s crazy my, that’s what
I’m saying, those guys can do it. Floyd can have his own show. Yeah,
He probably could. Probably could. People forgave Chris Brown, so I don’t, yeah, maybe it’s not that big of a stretch. But no, it’s interesting. I come from an Italian family, so I hear a lot about that stuff and I know quite a bit. But yeah, that’s funny. It’s really funny.
And you mentioned him, that guy, not his jiujitsu might not have been terribly clean, but he has black belts in judo, Sambo in wrestling. So you don’t want to be on the ground with that guy. God, that
No, I mean he brings the deep water
That
He brings you to the deep water. I mean he says it himself. He makes people suffer just from the sheer pressure. And you can see it too, if you go back and watch khabib’s fights, all you have to look at is not him punching the dude, not him kicking the dude, not even wrestling, don’t even look at the wrestling. Just look at when the guy’s up on the cage, how happy he looks being up. He’s not smiling, he is in pain and miserable and he’s not even getting hit. He’s just getting pressure on him and he doesn’t know what to do. He feels afraid. That level of grappling is just, it’s insane.
So in class we teach you that it’s me and the mat against you and that’s how I’m going to smash you. But Khabib would bring the guy up to the edge of the cage and so you had no place to go. It wasn’t just the mat or the floor of the cage, it was up against the side of the wall. And when he is putting that kind of pressure on you, it’s awfully hard.
It’s a game over. I see
It. I see it in even the amateur stuff when I go see some of our friends go fight, they all come out trying to throw and kick. They all want that ego boost, but when they get taken down, they look like kids who can’t swim and their moms are holding them by their bellies.
Yeah.
You know what I mean?
Yeah, definitely. No, I’ve been to a few amateur fights myself and I noticed the same thing when the grappling comes out. It’s like even a blue belt can take down some of these amateur guys without really that much difficulty. Especially if he’s like a nogi guy. But I don’t know. Yeah, I’ve noticed the same thing. It’s kind of funny you said you got
To have a ground game anymore and if you don’t go back to the early UFC stuff, hos Gracie just took care of everybody. Didn’t matter whether they kung fu, karate, kickboxing, whatever, he just got, sooner or later they’d get in a punch or two. But once it got down to the ground, these people didn’t know what to do. They didn’t even know how to get up correctly.
For sure.
So I feel like, just to wrap it up, it doesn’t matter what asset class or trading style you have, there’s always going to be new and improved waves for the market to morph and try to take your money because it’s going to test you in how much discipline you have. And if you don’t have confidence in what you’re doing, you’re going to lose money more than you should. Cause you’re going to always be second guessing yourself. Well, oh well Mike, you just said if I don’t know what I’m doing, I have to learn my skill. I did, but I did say also that the way you learn the skill is by doing it in paper trading, you don’t have any risks. So it’s interesting to learn how to use the platform, how to enter orders and make sure that you all do all that because errors typically cost you money, but nothing’s going to teach you as much as you are just doing it. You see? And so that’s what I advocate, just go do it. You’re going to find out more. Okay, about the asset class, again, what I think the question was about small caps, this and that, I don’t know. But the point being is like you’re going to learn more about that by actually engaging with the market and seeing for yourself, which brings up a whole other point in that you, there’s no one to trust really when you think about it.
Yeah. You know,
Can only do it and exercise your best judgment and try it and then go from there. And what you find out is going to be really eye-opening because it’s going to be an education that no one else can give you. And I don’t know why for the life of me, see I was kind of impulsive when I was starting out. I knew that just doing it was going to be the closest way to get to success. So imagine if I said, yeah, I’m going to put my first trade on in December of 2023 and here we are, this is the middle of June. How much education am I missing out? If I just said, listen, I don’t know my ass from a hole in the ground, but I’m going to put on a trade tomorrow, I’m going to go on a hunch and I’m, I’m going to risk 10 bucks. What does that say about me if I lose the 10 bucks that I’m an idiot? How many people go on to get, there’s a great question for the audience. How many people who start jiujitsu as a white belt go to change their belt? Meaning they get first promotion to blue. What do you think the percentage is?
It’s 15%. 85% of the people start and stock, they quit 85%. Now our gym’s a little different because we kind of nurture the talent. We don’t let them spar for several months so they don’t get into that spot where they could feel bullied if they’re a little thin-skinned and they’re trying to get their feet underneath them so to speak. And so we have a different program, our numbers are much better. But if you look industry wide, 85% of the people who walk in the door with aspirations are learning. Jiujitsu never go to change their belt.
And I’m sure trading is the same thing. All you see are the success stories. But guys being guys you never see on someone’s dating pro profile where he’s got his shirt undone and no t-shirt and got the chest hair and the gold necklaces like failed day trader. I blew through my 100, I blew 140 K in my 401k. That’s why my life went, that’s why I’m on this dating site. My wife left me. I blew out retirement thinking I could be a so’s bandit bitch. It’s like I didn’t even have to try. You need tax loss carry forwards. I got you covered.
And the world is littered with those folks. But if you look at the marketing, you’d think everyone’s students that’s just like, here, take my money please. And if you flip a thousand coins, you’ll have 20 of ’em that come up heads several times in a row, right? So again, you’ll believe what you want to believe at the end of the day. Yeah, no that’s a thanks. I appreciate everyone asking the question and whoever it was that asked the question of small caps, please don’t take the answer the wrong way. It’s just that when you think about being a risk manager like I am, it’s between you and your higher power. And I’m just being frank with you. There’s nothing I can indu to, I do to infuse confidence in you through a YouTube channel. We’d have to work and I’d have to learn about your situation and better understand what’s your orientation to everything. Because then I could better understand the actions that you are taking, the ones that you want to take and the feelings and the actions that you are avoiding. Because that’s really what it all comes down to. If you’re willing to feel all your feelings, then you’ll have a chance the minute you stop, not, you don’t want to start feeling feelings to me and that person’s not going to succeed long term as a trader.
Most definitely. Yeah. And with that said, thank you again for the comments guys. We really appreciate it. Make sure you guys like and subscribe, click the notifications bell, all comments help the algorithm. And with that, we will see you guys in the next episode.
Thanks everyone.
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