June 10, 2025 • 46 mins
What if the secret to building a trillion dollar fortune wasn’t flashy trades or risky crypto bets, but something so boring, it’s actually kind of genius? In this episode, we’re taking a look at the investing strategy of the world’s most low-key billionaire... and showing you exactly how to start doing it yourself (no, you don’t need a six-figure salary or a finance degree). From his first investment at age 11 to the simple rules he swears by, we unpack the mindset behind Warren Buffett’s slow-and-steady success... and why it just might be the smartest way to build your own wealth.
📈What makes Warren Buffett the GOAT
📈The biggest investing lesson he ever learnt (at 11 years old)
📈A strategy so simple, it’s suspicious... and worth billions
📈The 3 things a company needs to have for Buffett to invest
📈The 1 investing move he recommends for his wife, and you too
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Acknowledgement of Country By Natarsha Bamblett aka Queen Acknowledgements.
The advice shared on She's On The Money is general in nature and does not consider your individual circumstances. She's On The Money exists purely for educational purposes and should not be relied upon to make an investment or financial decision. If you do choose to buy a financial product, read the PDS, TMD and obtain appropriate financial advice tailored towards your needs. Victoria Devine and She's On The Money are authorised representatives of Money Sherpa PTY LTD ABN - 321649 27708, AFSL - 451289.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
My name's Tasha Bamblet. I'm a proud First Nations woman
and I'm here to acknowledge country t glennyan Ganya Niana,
kaka ya ya beIN ah Waka Nian our gay In Mbina,
yakarum jar dominyaka Umagahawakawaman damon imlan bomber bang Gadabomba in
and now in wakah ghana on yak raum jar Watnadaa. Hello,
(00:22):
beautiful friends, we gather on the lands of the Aboriginal people.
We thank acknowledge and respect the Abiginal people's land that
we're gathering on today. Take pleasure in all the land
and respect all that you see. She's on the Money
podcast acknowledges culture, country, community and connections, bringing you the tools,
knowledge and resources for you to thrive.
Speaker 2 (00:44):
She's on the Money. She's on the Money.
Speaker 3 (01:07):
Hello, and welcome to She's on the Money, the podcast
that lets you in on the financial strategies billionaires swear
by without needing a billionaire bank balance.
Speaker 2 (01:15):
I would like one, though, wouldn't mind it? Actually, you
know what, I.
Speaker 4 (01:17):
Take all of that back. I've said publicly before, and
I don't want to be a billionaire.
Speaker 2 (01:21):
You don't want to be billionaire asolutely not. I wouldn't
hate it if it was. I was like, you want
to be where you are now, you want to be
a billionaire?
Speaker 4 (01:26):
Would you don't need a billion? Nobody like from if
not one person needs a billion dollars.
Speaker 2 (01:31):
That's very true. VD.
Speaker 3 (01:32):
Well, today we're actually looking at the investing strategy behind
one of the biggest fortunes on the planet, and of
course we're going to show you how you can use
it to whether you are starting at fifty dollars or
fifty thousand dollars.
Speaker 2 (01:43):
I would like to start fifty thousand dollars.
Speaker 3 (01:45):
That's not too bad. That's not billionaire status. That's just
it's modest. I'm excited and with me is retired financial
advisor and expert in all things investing, in all things
in general, Victoria Divide.
Speaker 4 (01:55):
Hello, Beck, I'm so excited and I know that we're
going to talk about like a billionaire investing strategy today,
but like let's get rich, but like not that rich?
Speaker 2 (02:03):
Yeah, yeah, yeah, I don't know at what point, like
what's the level?
Speaker 4 (02:06):
Right, There's like people always say, like money can't buy happiness,
which I disagree with.
Speaker 2 (02:10):
Because I think money.
Speaker 4 (02:11):
Buys freedom, right yeah, and like if you've got freedom,
you are healthier, happier, like spiritually, mentally, all of that stuff, right,
Like I will not put up with anyone being like
money can't buy happiness, You're right, Like there's a cap
and a believe from research, it's like eighty two thousand
dollars a year is the cap at which if you
earn that much, like you're happy. And I mean this
(02:35):
is not to say that you're not financially stressed like
we are Casey lives right now, like we don't need
to go back and forth, but about eighty two thousand
dollars apparently is the limit at which any more money
doesn't make you any more happy, Like you just stop
having an increase in happiness because of your finances.
Speaker 3 (02:55):
Right, I mean, it's at the very least still take
away the crippling anxiety of constantly being brogue or in debt.
Speaker 2 (03:02):
So I think, yeah, but that's one hundred two tho.
Speaker 4 (03:05):
But at the same time, on the flip side, I
am an ex financial advisor. As you mentioned, I love
talking about money, I love investing, and I love talking
about you know, this guy is one of the longest
running investors and like arguably the most successful investor the
(03:26):
share market has ever seen. Like and I'm not being dramatic,
here has ever seen like this. One individual has made
literally billions of dollars And I've got a lot of
conversation like not for now, but like you don't need
to continue to hold billions of dot can you imagine
the impact you could have? I know, Like, don't get
me wrong, we like I want to be rich, Like
(03:47):
that's no secret. I'm she's on the money, Beck, Like
I want to be financially secure. I want to you know,
be able to provide for my children all of that.
But at what point should you be giving away your money?
Speaker 2 (03:59):
Yeh, yeah, I don't know.
Speaker 4 (04:01):
Different conversation that just makes me very uncomfortable. But the
best investor, the not just Australian but the world wide
share market has ever seen, is Warren Buffett.
Speaker 2 (04:12):
Warren Buffer, Warren Buffy but Warren.
Speaker 4 (04:15):
Buffett, right, yeah, And he is known as being like
the pinnacle, Like there are people that follow this man
to a teeth. He makes an investing decision, they make
an investing decision. And I believe that there is a
lot we can learn from him, because as much as
I don't necessarily agree with being a billionaire, he's an
(04:35):
incredibly smart man. And there are so many people who
have been quite critical of him historically, not because he's rich,
but because they're like, oh my god, if he'd invested
in this business earlier, he would have made even more money.
But he's very calculated with his decisions. And I think
we can learn a lot from that.
Speaker 3 (04:53):
Okay, And I was gonna you did kind of answer
it for me. I wouldn't to do, like why is
it beg deal? Like how do we even know?
Speaker 2 (04:59):
Like did we just try?
Speaker 3 (05:00):
Like It's all sounds so confusing to me, because how
like I could be a good investor, but no one.
Speaker 4 (05:05):
But he's not a publicly trading company, so he shares
all of this public clear right, so he's investing decisions
are news like, So whenever he makes a trade, his
company puts out essentially a press release says, Warren's invested
in X. And this guy nowadays is not like putting
ten dollars on after pay. He's like making big, big,
(05:29):
multi million dollar moves. And because he's got a publicly
listed company, he legally has to disclose that as well.
So everything he does is public knowledge.
Speaker 2 (05:39):
Okay, that makes sense. I guess.
Speaker 3 (05:40):
Like the thing is he's kind of like using a
lot of money and so probably making a lot of money.
Speaker 2 (05:43):
But did he start there? He started from scratch and okay,
you know, we might get into it.
Speaker 4 (05:48):
And it's actually funny if you if you want to
see humble, google his car and google his house.
Speaker 2 (05:55):
So he still drives his I believe it's.
Speaker 4 (05:57):
Like a Toyota Camri because I don't need that, Like
why do you need a new car? And he still
lives in the family home that he and his wife
bought because he's just like, I don't need anything more
than that. So I would say relatively well balanced. But
he's literally like rich rich, Like he's not just like,
oh he's wealthy. He's one of the ten wealthiest people
(06:19):
on this planet. And currently, if we do a little Google,
he's worth more than one hundred and fifty billion dollars.
Speaker 3 (06:28):
WHOA, that's like everything he when people say worth, is
that like everything you own?
Speaker 4 (06:33):
Like it's everything he owns. All of his investments includes
his car. Yeah, that's one of his askcts.
Speaker 2 (06:39):
The car. The little Twitter come includes the car. That's
so cute, young glad they included that, Yeah, but he didn't.
Speaker 4 (06:43):
I think a lot of people assume that when you're
a big dog investor, you must have come from family wealth.
I've actually just finished Sirens on Netflix, which is a
fantastic series. Like I binged to the whole thing about
like people in upstate New York like doing that very
Deen's vibes. Yeah, really rich billionaires living their rich lives anyway,
(07:04):
very fun. But a lot of that wealth that you
see is often inherited. But he actually built all of
his wealth by investing and other businesses since the fifties.
Like this guy's old Beck Like he is old, and
people are still following this guy who way past retirement
age because he just makes such good decisions. In fact,
(07:26):
I told you before that he has a publicly listed company.
He runs one of the most powerful companies in the
world as the chairman and CEO of Berkshire Hathaway, which
is actually worth Get this got to be sitting down,
it's worth more than a trillion dollars.
Speaker 2 (07:43):
Okay, well that's unnecessary.
Speaker 4 (07:46):
That's actually like, that's more than I can actually comprehend.
And Berkshire so his company actually owns or invests in
companies that you definitely know, so.
Speaker 2 (07:56):
We can do this too, but maybe not to the
extent that he does.
Speaker 4 (07:58):
But he owns things like Apple and Coca Cola and
Amex and the Bank of America and Dairy Queen. He
owns Jurisicelle batteries and he also owns tins.
Speaker 2 (08:08):
Oh, okay, well I have like ten dollars and Apple. Yeah,
good job, honey, I did not think about the others.
Speaker 3 (08:15):
Okay, well, well I really can't wait.
Speaker 2 (08:17):
Jansen and apparently means means billions. God, he see his
potential and everything, doesn't he Dairy Queen? Who would have thought?
Speaker 3 (08:24):
So? Why has Warren willfour been in the headlines again recently.
Speaker 4 (08:28):
Because he has come out and said, guys, I'm retiring. Wow,
I'm just I'm going to take a step back. I'm
going to create a retirement plan. He has been working
at Berkshire Hathaway for sixty years or more than six decades,
and he's finally confirmed that a guy called Greg Abel
is going to be taking over. Because you know how
(08:50):
I said, like, oh, he's old old Beck, our friend Warren,
he's ninety four.
Speaker 2 (08:55):
Oh and he's just yeah, and he's just still willing
and deal.
Speaker 4 (08:58):
Then Yeah, like my grandpa made it to ninety four
before he passed away, and like he was as sharp
as attack.
Speaker 2 (09:05):
So I have no doubt that this guy is still
sharp as attack.
Speaker 4 (09:08):
But he needs a little bit of like retirement time,
a little bit of down time. Maybe time to enjoy
thirty is too late, roughly.
Speaker 2 (09:15):
But enjoy the billions you've made. Yeah, seriously, on a holiday,
maybe he could go on a trip to Bali with
his sam. It's never too late. It's absolutely never too late.
It's not well, it's shocked me.
Speaker 4 (09:24):
It's massive news because lots of people just assumed that
he would never retire because at the end of the day,
like you know, he's eighty, and then he's eighty five
and then he's ninety, still just pushing on running this company.
But now he's ninety four and he's like, actually, probably
should put in place some retirement plans.
Speaker 2 (09:40):
Greg Abel's been waiting.
Speaker 4 (09:42):
He's just been in the back being like, Hey, is
this ever going to be my time to shine?
Speaker 2 (09:47):
Or am I going to retire before you? What's going on?
Speaker 4 (09:49):
But it's big, big news because Warren Buffett has been
I would say, the face of investing for sixty plus YUS. Yeah,
like he has been the guy everyone writes books about.
He has been the guy that everyone turns to during
economic downturn to be like, what are the big moves
Warren's making? What's going on here? If he's trusting this,
(10:09):
we trust that. And he's been essentially the biggest influencer
in that space, well the OG influencer exactly. And the
announcement was made recently at the twenty twenty five Berkshire
Hathaway AGM, which this is going to sound so lame.
I invest in Berkshire Hathaway because like, one day I'm
hoping that as an investor I can go to their AGM.
(10:30):
Oh isn't that the lamest thing even at all?
Speaker 2 (10:33):
Is this?
Speaker 3 (10:34):
Like this has happened before or you're just like we
can go You'll see me.
Speaker 4 (10:38):
Yeah, yeah, Like imagine being able to go to the anyway,
That's just what I'm like. Oh, bucket list items sair
And it's actually the first major one without a guy
called Charlie Munda there by his side. So this guy,
which you probably haven't heard of in the same way
that you've heard of Warren. He was the long term
business partner and absolutely investing icon in his own right,
(11:00):
but he was a business partner of Warren. But unfortunately,
Charlie actually passed away in late twenty twenty three, and
he and Warren had worked together for more than sixty years.
So I wouldn't be surprised if this was one of
the reasons that Warren's kind of like, well, if he's
not here, you know, it's not as fun, like, you know,
two mates more than sixty years making big decisions together
(11:21):
is kind of like, I'm kind of out.
Speaker 2 (11:23):
That's devastating, Yeah, exactly.
Speaker 4 (11:25):
And people are actually calling it the end of an era,
which I kind of feel in my bones as well.
Speaker 2 (11:30):
I'm like, well, who are we going to follow now?
Who's the like big dog in this space?
Speaker 4 (11:34):
There isn't anyone who has ever been as influential or
correct about the markets as Warren Beck. There's also and
I feel like I'm just harping on about this, but
like this is kind of like this is.
Speaker 2 (11:46):
My real housewives? Are you in ye element? So I'm
just vibing it.
Speaker 4 (11:50):
There's another big thing that lots of people in the
industry are kind of like whispering about. And that's because
Berkshire Hathaway. So his company is actually sitting on a
lot of cash. So there is one hundred and eighty
nine billion dollars worth of cash sitting in that business.
Speaker 2 (12:07):
Do you mean physical physical cash? Really?
Speaker 4 (12:10):
Yes, So like if you logged into their you know,
online transactions, that's how much cash they're sitting.
Speaker 2 (12:16):
I see, I see, I see it.
Speaker 4 (12:17):
So it's just in their bank like probably not in notes,
but like see, you know, that's what he's got in
the business bank account, which is in addition to all
of the investments that that business owns Okay, And essentially
Warren's been stockpiling this for years, obviously because you can't
just save one hundred and eighty nine billion dollars in
(12:38):
a year. But he's been stop piling it for years,
and he's been choosing not to make massive moves in
what he has been calling.
Speaker 2 (12:44):
A really overpriced market.
Speaker 4 (12:46):
And now that Greg is taking over greg Able, I
was telling you about him before, everyone's asking, well, what
are you going to do?
Speaker 2 (12:54):
Greg?
Speaker 4 (12:54):
What are you going to do with all this cash?
Like is the business going to be investing more? You're
a literal investing company. And you got all this cash,
like that doesn't actually make a lot of sense. So
between his age and his legacy and the future of
literally one of the biggest companies in the world, everyone's watching,
or everyone in the investing world, including me, is watching.
You're probably like, I still don't care.
Speaker 2 (13:14):
Be probably and that's cool. That's cool. One.
Speaker 4 (13:17):
I'll just tell you about it and you can be like, oh,
I know that. So next time you're at the pub
and people go, oh, do you know what Berkshire Hathaway is,
you'd be like, oh my god, yeah, I can't believe
he's sitting on one hundred and eighty nine billion dollars.
Speaker 3 (13:28):
Will in the North and no one know what berkeshear
hath the way is. But I appreciate that you've given That's.
Speaker 2 (13:34):
Okay, that's all right.
Speaker 4 (13:35):
I will continue to try and say when you give
me the information.
Speaker 2 (13:39):
It's actually quite engaging. I'm trying. I really like it.
Speaker 4 (13:42):
But essentially it's like our mate Warren Buffett's like final chapter.
So literally everyone in the investing world is going to
be looking and being like, well, is he going to
go out with a bang? Is he going to go quietly? Like,
what's he planning on doing sure, especially with so much cash,
like he could do so many things.
Speaker 3 (13:58):
Yeah, I guess, Like it's a shocking amount of money,
Like how did he get there? What makes him so
good at a missing Like what is he seeing that
we don't see?
Speaker 2 (14:06):
Mate?
Speaker 4 (14:07):
If I could be, like I always say, and you've
heard me say this on the show before, like if
I could time the markets, I'd be a very rich woman.
And unfortunately nobody can time the markets except.
Speaker 2 (14:18):
Seemingly like Warren.
Speaker 4 (14:19):
Yeah, except he doesn't time the markets. Even he says
that timing the markets is silly, Like he's come out
before and been like that is absolutely ridiculous. But it
is a very good question to ask if someone who's
worth more than one hundred and fifty billion dollars individually.
But because he's not like a super flashy person, he's
not gambling in crypto, he's not day trading. He's quite
(14:40):
literally the opposite, and he's exactly what she's on the
money preachers, I would say that his entire investment strategy
is deeply un sexy, Like there's nothing about his strategy
that you go, oh, big moves, big dog, Yeah, you go,
that's kind of low key really boring but okay. But essentially,
(15:01):
even though his investing strategy is I would say, offensively boring,
that's the point, Like, the entire point is to be
as boring as possible when it comes to investing large
amounts of money and even small amounts of money, because
he started.
Speaker 2 (15:17):
All on his own.
Speaker 4 (15:18):
And I'm going to give you a little bit of
a cliffhanger because we're going to go to a break,
but we're going to unpack exactly how he built his
fortune and exactly how you can use exactly those same
strategies even if you've only got fifty bucks to start with,
or like Beck, what have you got now, like three
hundred dollars in chersias?
Speaker 3 (15:33):
Yeah, okay, this is going to sound crazy and almost
unrelatable to I just don't want to be that's.
Speaker 2 (15:39):
Not unrelatable girl, If you can do it everyone.
Speaker 3 (15:41):
Yeah, literally literally, I have like six hundred and eighty
sorry what four dollars or something like that.
Speaker 2 (15:46):
Six hundred and eighty four dollars keep going down, But
that's Oksey, it's a little longing consistently investing. Yeah, I'm
so proud of you.
Speaker 4 (15:53):
Thank you.
Speaker 2 (15:54):
Let's go to a break. And then we can give
you all of Warren's advice after this.
Speaker 3 (16:01):
Okay, everyone, we are back, and Vid left us on
a cliffhanger, basically like everything they should do that.
Speaker 2 (16:07):
You've got more than six hundred bucks in your investing.
Speaker 4 (16:09):
Platforms, so wild Can we go back like a year
or even two years? Yeah?
Speaker 3 (16:14):
Fully, maybe Beck would be like, what no, no, I
still don't have an emergency fund, which I know is
not getting this get He wins the race exactly, which
is perfect because we're talking that kind of like reminds
me of tortoise in the hair, which I would think
Warren Buffett is like the tortoise in this situation, like.
Speaker 2 (16:32):
All of his movies.
Speaker 4 (16:32):
At ninety four, I feel like he's giving tortoise vibes
totally totally because he's.
Speaker 3 (16:37):
Like, you know, not doing making big moves, risky moves.
It sounds like it's just all kind of like boring
and whatever. But what can we learn from him.
Speaker 2 (16:46):
We can learn from his love of compound interest.
Speaker 3 (16:49):
Ha.
Speaker 4 (16:50):
So the money that your money makes makes money. And
given his ninety four he is one of the greatest
living examples of the effect of compound interest. I have
spoken about compound interest time and time again. I think
it is the sexiest thing in the entire world. Essentially,
compound interest is the interest that your money earns making
money for you. So your money is making money, and
(17:13):
then that money is free money. And Beck, we love
free money. Love free money, we love free money. So
you earn money, and.
Speaker 2 (17:18):
Like, I'm just trying to double down, but like.
Speaker 4 (17:21):
You earn money on the original amount, and the next
time that original amount plus the money you earned is invested,
and so it just gets bigger and bigger over time.
And that might not feel very powerful after one year,
but after ten years, your money will have more than doubled.
Like your six hundred dollars, Beck, if you did not
invest another dollar based on current market returns, nine point
(17:45):
four years is what it's going to take to be
twelve hundred bucks. WHOA, that's so crazy, isn't that kind
of cool?
Speaker 2 (17:50):
Yeah, that is really cool.
Speaker 4 (17:51):
So in his autobiography, which obviously I'm quite a fan of, Beck,
I wouldn't recommend it, okay unless you're me, ah, I see,
just feel like if I made a book recommendation for you,
it wouldn't be that one. But in his autobiography, Warren
actually explains it as like a snowball rolling down a hill,
picking up more and more snow as it gains momentum,
(18:14):
until it becomes a massive snowball. And I feel like
we can all understand that. And we also learned in
that autobiography that he actually, and this is deeply unrelatable,
he started investing at eleven years old, and he also
said he wished he started sooner.
Speaker 2 (18:30):
That is, who what where does an eleven year old?
You know what? I wouldn't be surprised if he's a
neurospicy friend. Yeah, that sounds about right.
Speaker 4 (18:39):
Some of us like trains, He likes con found interests. Yeah,
and from a very young age. I think he has
been hyper fixated on this. I see imagine being like, oh,
I started investing at eleven.
Speaker 2 (18:50):
That's wish I'd done it earlier. Like I can't z
can't believe I was in.
Speaker 4 (18:55):
Prep, can't believe I was wasting time doing finger painting.
Speaker 2 (18:59):
I know that's is it even legal at eleven? As
like saying I started driving when I was eleven. I
wish I did it earlier, but like, are you even
allowed to at that point? How does he have money?
Was heney?
Speaker 4 (19:08):
You'd have a number of questions. But I guess it
doesn't mean you had to be a stock prodigy in
primary school, yes, to start building wealth, because like, that's good,
you're starting now and you're going to be so financially secure.
It kind of just highlights the power of starting early
and getting in as soon as you can, and that
(19:29):
from small things, big things literally can grow. And the
more time your money has to grow, the more of
it there is going to be. So I guess it's
just let's not put so much pressure on ourselves that
we are expected to invest at eleven, but let's maybe
remember or use it as a little reminder that starting sooner,
even with small, tiny amounts, is going to give you
(19:50):
a massive head start thanks to compound interest. Okay, I
mean he started investing at eleven, beck, Yes, he had
his first million dollars by thirty two. Oh okay, okay, okay,
So it wasn't like a millionaire by twelve. Yeah, yeah, yeah,
which I feel like a lot of people are like,
this guy's a prodigy.
Speaker 2 (20:09):
He was probably like twenty one. No, he was thirty two.
Speaker 4 (20:12):
I mean that's still deeply unrelatable, especially right now. But yeah,
that's like our age, very very cool, And a vast
majority of his estimated like one hundred and fifty billion
dollars of wealth was actually accumulated after he turned fifty.
Oh compound interest though, yeah, okay, this is seventy.
Speaker 2 (20:30):
Five billion dollars. That's a lot of money.
Speaker 4 (20:32):
But if he didn't invest another dollar in, just kept
letting it tick over another ten years, that becomes one
hundred and fifty billion dollars. Why because like the same
thing happens. It's like, you know, using your example of
your six hundred and it being twelve hundred and ten years,
that's so sexy, but like same amount of growth happens
on a larger scale. So for him having you know,
(20:54):
a couple of billion dollars, that's double.
Speaker 2 (20:57):
Yeah, isn't that kind of crazy? That is crazy.
Speaker 4 (21:00):
So in America, CNBC, which is like a network over there,
they did a really interesting comparison between Warren Buffett and
a guy called Jim Simon's and over his investing life,
which started, as I said before, when he was just
eleven and stretched into his literal nineties. Buffet's average returns,
(21:20):
according to them, was twenty two percent. Well, so like
literally more than doubling what we use as an expected
market return every single year.
Speaker 2 (21:31):
Yeah, okay, that's really good.
Speaker 4 (21:34):
But we look at Jim Simon's, who's also often referred
to as like a ridiculously successful investor, if not one
of the biggest and best investors in the world as well,
but lesser known. I think because he's been around for
less time. Sure, Jim's investment return back every year of
his life sixty six percent per year.
Speaker 2 (21:52):
How does he do that?
Speaker 4 (21:53):
Well?
Speaker 2 (21:53):
I know that, So do you think's worth more money?
Speaker 3 (21:57):
Well, because maybe it's a true question because twenty percent
the sixty six percent, obviously, But then he hasn't been
around very long, exactly.
Speaker 2 (22:07):
I still actually I'm just I'm going to say, Jim, no,
it's not.
Speaker 3 (22:10):
Jim.
Speaker 4 (22:11):
Worn still runs rings around him because even though, like
Simon's has had high return, he didn't start investing seriously
until it was like fifty and Worn has had decades
of compound interest on your side. She was kind of
disposed to prove that the best asset isn't actually finding
super high returns, it's giving your money time to grow time.
Speaker 2 (22:31):
And I find that so exciting.
Speaker 4 (22:33):
But at the same time, it's literally what we preach
on cheese on the money, Slow and steady wins the race.
You use the example before Beck of the tortoise and
the hair, and like we're looking at Jim going, oh
my god, what a good hair. But like slow and steady,
he's just essentially hocking cash back there.
Speaker 2 (22:51):
Okay, Well, honestly, a part of me is quite comforted by.
Speaker 4 (22:54):
The fact that it's it's just slow and steady winslow
and steady. So obviously, starting early, worn this massive edge.
I need to like what the brick he's investing in
it at eleven though, Yeah, like what are you picking?
Speaker 2 (23:07):
Right?
Speaker 4 (23:08):
So when he was eleven, he bought three shares in
a natural gas company that didn't exist anymore called City Services,
and he paid, according to research, thirty eight dollars per share.
He watched it drop, he panicked, he sold it it
forty dollars to make a profit, and then he watched
(23:30):
it shoot up way higher than he'd sold it for.
Speaker 2 (23:33):
And it's the problem.
Speaker 4 (23:35):
Yeah, that moment really stuck with him, Like he you know,
talks about it in his memoir and he's like, you know,
I bought this company and then I watched it drop
and I freaked out. It's like what we talk about.
You know, you see the market drop and you kind
of get that pit in your stomach. Yeah, that's where
he started to I mean, he did do it at eleven,
which is unrelatable, but it's a good story nonetheless, but
(23:55):
that moment really stuck with him, and it taught him
that trying to time the market and guessing when to
jump in and when to sell was gamble and that
was a terrible thing to do. He's like, I'm never
doing that again. So instead of playing that game, he
changed his strategy. Again, we're talking about an eleven year old.
He started to focus on buying really great companies and
(24:17):
then just holding onto them for the long term. He
was like, I'm just going to be a buy and
hold man. I'm just going to buy good stuff, hold
it for the long term, hope it, you know, gives
me good dividends and consistent capital growth. And in his
nineteen eighty eight Berkshire Hathaway shareholder letter that he sends
out every year, by the way, that's a letter.
Speaker 2 (24:36):
Wow, do you get that? Yes?
Speaker 4 (24:38):
I do, you do, just as a shareholder. You just
get the letter. But did you know so you know,
I said I wanted to go to their AGM. Yeah,
you actually have to apply to go to their AGM
because there's so many people like me who would be
like frothing to go.
Speaker 2 (24:52):
But it's kind of like a ballot.
Speaker 5 (24:54):
You have to like Meredith, Yes I'm doing You're going
to Meredith, and I'm going to Berkshire Hath the way.
Speaker 2 (25:01):
It's far more unlikely that I'll get in. But that's okay.
Speaker 4 (25:04):
But he said in that letter that our favorite holding
period is forever.
Speaker 2 (25:09):
Good good, good good from him, right, So like.
Speaker 4 (25:12):
His friend was, if I'm going to invest in something,
I'm going to do all of the research, all of
the analysis. I'm gonna buy it, never gonna sell it.
Speaker 2 (25:21):
That's his strategy.
Speaker 3 (25:22):
Okay, okay, okay, will you ever enjoy the fruits of
your labor?
Speaker 4 (25:26):
I mean maybe once he's ninety four and he's going
to reach to ninety four. Yeah, maybe he's going to
the Bahamas.
Speaker 2 (25:30):
We don't know. We don't know.
Speaker 3 (25:32):
So how does he actually like Pickle to invest in
because he's you know, picking random things like I'll just
hold this forever. Or is there like a secret formula
or do you have like billionaire instincts.
Speaker 2 (25:41):
I think he has billionaire instincts actually, and that's the
end of the podcast.
Speaker 5 (25:44):
That's it.
Speaker 2 (25:45):
Yeah, yeah, well that's.
Speaker 4 (25:46):
He actually once said never invest in businesses you can't understand,
which I think is really cool. And that's why I'm
always like, do your own research understand.
Speaker 2 (25:54):
And I know that.
Speaker 4 (25:55):
Do you know what I hate when people say and
I say, go do your own research back?
Speaker 2 (26:00):
What the hell does that mean? Am I meant to
google it? Am I meant to look it up?
Speaker 3 (26:03):
Yeah?
Speaker 2 (26:03):
But I want you to go, Okay, if I'm buying.
Speaker 4 (26:05):
Apple, yeah, you kind of know what Apple is, so
you know it like sells iPhones and laptops and whatnot,
but like read more information about well why are they
so impressive? What is their technology? Where are they made
all of that stuff? You want to deeply understand. If
Warren can't understand how the business makes money in a
sentence or two, he will not touch it. It doesn't
(26:27):
matter how much hype there is, it doesn't matter what's
going on in the market, it doesn't matter how much
money people are making. He's like, Eh, that's not worth
it to me. Like he is arguably a very simple investor.
He's like, if I don't get it, I'm not investing.
So instead of chasing the next big thing, like lots
of verse often want to, because we're like, oh, but
if I invest in that make it like sixty six
(26:48):
percent profit. We don't want sixty six percent profit. It
does sound sexy in the short term, but like that's unsustainable.
Then you're chasing the next big high and you kind
of become like a drug addict version of it in stuff, right,
And that's not cool because we don't want to chase
the next big high. So instead of you know, chasing
the next big tech company or getting sucked into stuff.
(27:08):
You know that he doesn't really fully comprehend like crypto
or maybe AI, where he's like, I can't fully explain
this in a sentence or too, and while it sounds impressive,
like a lot of it eludes me, I'm not that
into it. He actually sticks with businesses that are super boring. Okay,
think the companies I was telling you about before, Coca Cola,
(27:29):
insurance companies, railroads, banks, all of these things that you
go is a bank sexy?
Speaker 2 (27:36):
No? No, But if you look.
Speaker 4 (27:37):
At you know, for example, here in Australia, I always
use the example of NAB. They've never not paid their dividends. Yeah,
like they are always paying their investors. That's low key,
very sexy.
Speaker 2 (27:49):
Love, very cool.
Speaker 3 (27:50):
So you would say, like if you understand it, then cool,
But like when is it understandable completely clear? I understand this,
but it's not worth investing. How does he know it's
worth investing in it?
Speaker 2 (28:03):
So he has a little bit of a strategy.
Speaker 4 (28:05):
And the next thing he looks at, and he's said
publicly before, is whether it's a great business.
Speaker 2 (28:10):
He doesn't just want a good business.
Speaker 4 (28:11):
He wants a great business to invest in, not just
an okay one. And for Warren that means that there's
a few specific things he's looking at. So the first
one is it needs to be profitable and consistent. So
Buffett looks at business as with a really strong track record,
so like companies that are consistently making money, and not
ones that are relying on trends or hypes or like
(28:33):
a lucky quarter or like the La Booboo company.
Speaker 2 (28:36):
Ah, La boo boo.
Speaker 4 (28:37):
Right, I don't want to talk about La Boo boos anymore,
but like that company, right, worth so much money. He's
made billions out of that, But that doesn't mean it's sustainable,
because how long until people don't give two flying hbout
a laboobo?
Speaker 2 (28:54):
But do you know what I mean?
Speaker 4 (28:55):
Yeah, like the La Boo boo is a trend. Yeah, yes,
he's made billions. If you look at all of the
investing information about that, that company is skyrocketing.
Speaker 2 (29:04):
That's crazy. Go invest in PopMart. Okay, don't don't go
invest in PopMart. I do it for like a week.
Speaker 4 (29:10):
But like, when do you get out? How do you
know when to get out? Are you're going to kick
yourself if you get in? And then you know, they
invent the labuobuo two point zero and it triples again?
Speaker 2 (29:19):
Yeah, how do you know when to leave? Never? You
never leave exactly.
Speaker 4 (29:22):
So Warren's strategy was, like the best investing term is forever. Yeah,
So are you going to own the labuboo company forever back?
Speaker 2 (29:28):
Yeah? True? Maybe not. Don't want that.
Speaker 4 (29:30):
No, I'm going to go get boring one. I'm going
to invest in a railroad or a toll way or
maybe or something that.
Speaker 2 (29:35):
Bank or something like Toyota. Yeah yeah, great, like yeah, okay.
Speaker 4 (29:40):
He wants it to just be profitable and consistent because
The next thing, he says, it needs to be strong.
So that means that the business has something really solid
going for it, like a great brand like Toyota, or
loyal customers, or maybe products that people have to use
every single day. Yes, so it's harder to compete with
(30:01):
businesses that already have a really strong position, like and
I think of companies like I need to use deotoring
every day. Back Rex owner, where's that gonna go?
Speaker 2 (30:10):
Yeah? That's the true, do you know what I mean?
Speaker 4 (30:12):
We're not talking and I'm not saying that these are
like things you should invest in, but we are talking
every day essentials that you know, people are going to
buy it, and even if it's not the best thing
on the market, like so many different things are going
to come up, it's got such a big brand, people
are always going to fall back to it, right, Yeah,
Like you might buy it because you're like, oh, that's
a good brand and it's on special this week. I'm
(30:34):
just consistently okay with that brand.
Speaker 2 (30:37):
Right.
Speaker 4 (30:38):
And then so he said it needs to be profitable
and consistent. The second thing I said, it needs to
be strong. And then the third thing is it needs
to be reasonably priced. We don't ever pay for things.
Speaker 2 (30:48):
Absolutely not.
Speaker 4 (30:49):
Warren would never overpay for something, even if he's obsessed
with a business like he loves it, He's like this
is so good. He will not overpay for it. He's
known for crucking companies for ten, twenty thirty years before
he will invest in it because he's like, that's not
worth it, that is not worth it. Buffett actually waits
for the price to come down to a level that
(31:10):
he thinks he's getting really good value, and then he
buys and then he holds it forever.
Speaker 3 (31:14):
That's a fantastic point because right now I'd be like,
I'm going to go invest in Rex soona, I don't
know what it was before.
Speaker 2 (31:20):
I'm not bothering to check. I'm just going to buy
it right now. But if you wait, you watch he does,
and he waits.
Speaker 4 (31:26):
Then he watches, like to a point where I would
have gotten bored, like I'm not committed like he is.
And that's why Warren is known as a very good
value investor. So he's built his entire fortune on what
people call a very boring stock strategy.
Speaker 2 (31:45):
Boring, boring, boring.
Speaker 4 (31:47):
Wow, this is like he's not chasing shiny things. But
he's not jumping on whatever trends or la boo boo
is going on.
Speaker 2 (31:55):
He is not.
Speaker 4 (31:56):
Trading every time the market wobbles. He's just going, all right,
well we're here, going to stick it out. He's investing
in companies that are stable, that are predictable, and that
make money stuff like banks, railroads, food companies, insurance, Coca Cola.
Speaker 2 (32:12):
We're all ordering coke. Oh yeah, you know what I mean.
We go out of fashion exactly like tried true test it.
Speaker 4 (32:18):
He's not going to sell those shares things that people,
no matter what's going on in the economy, are going
to continue to buy.
Speaker 3 (32:26):
It's very company too, that this doesn't like empty light,
Like it doesn't take an excessive amount of money or
an excessive amount of Like not to say that he's
not intelligent, but like you don't need but like that's.
Speaker 2 (32:36):
The killerst thing, right.
Speaker 4 (32:37):
I think when you start talking about, you know, the
world's best investor, you go, oh, you must be so intelligent.
Like he clearly is very intelligent. I'm not downplaying that
at all. But his strategy, it's not you can replicate it.
The everyday person can replicate it and go okay, cool.
So instead of getting caught up in trends. Maybe I'm
just going to buy blue chip stocks. Maybe I'm going
to go look at a bank. Maybe I'm going to
(32:59):
go look at things like Coke Cola or Apple, like
we just know they're not going anywhere. Like I'm a
consistent girlie. I just want the boring, the standard. I
just want to be wealthy once I retire. And I
guess the idea behind value investing, which is not going
to come as a surprise to you, Beack that I'm
a value investor because I don't want to be trading
(33:20):
all the time.
Speaker 2 (33:21):
What's value investing?
Speaker 4 (33:22):
So value investing is really simple. You're looking for businesses
that are worth more than what they're selling for, and
you're buying and you're holding forever. It's essentially what Warren's doing.
Speaker 2 (33:31):
Oh yes, yes, okay, I see what you're saying. You
just want good value, like you've got a good deal
and then you're going to use it forever.
Speaker 3 (33:37):
Yeah, oh okay, and kind of like put like notification
on on Chazy's.
Speaker 4 (33:42):
You can you can you can also like track something
and go, well, I'm happy to buy that share once
it drops to twenty bucks and you can essentially put
in a trade that says, once that share drops to
twenty bucks, automatically buy it for me, so you can
kind of set and forget your investment strategy.
Speaker 2 (33:57):
That is really good.
Speaker 4 (33:58):
It's kind of like you and I both love thrift,
like we both love an opshop. It's kind of like
spotting a five hundred dollars bag at the op shop
for twenty bucks, and you know it's really high quality
and you're getting it for way less than it's really worth.
Speaker 2 (34:10):
Yeah, and that.
Speaker 4 (34:12):
Exactly, but like you buy it not to resell it.
You go, oh my god, Like it's such a good
quality about I'm going to use this for years, Like
I feel like I've won the lottery, Like I didn't
have to spend five hundred bucks, which I never would
have done. I'm going to spend twenty bucks on this.
I'm gonna have this when I'm sixty, Like this is
so good, Like it feels comfortable, but also you feel
like you've gotten.
Speaker 2 (34:32):
A good deal.
Speaker 4 (34:32):
Right. He essentially does exactly the same thing. He finds
really undervalued companies, buys them, holds them sometimes forever. It's
massive newsback. If he sells a company like if he
sells a company, the stock market goes berserk because that's crazy.
Speaker 3 (34:49):
It'd be so sad if you were like a random
company that he's been invested.
Speaker 2 (34:52):
H he's just putting in the bin.
Speaker 3 (34:53):
And then everyone else would because I would assume you're
kind of following his lead exactly. And as you said before,
like I think the best part about this strategy is
literally anyone can do it. Like you want to start
on shares's with a dollar, you can? You got fifty bucks,
you can. Like this is of you one a massive
investment strategy that you know you need tens of thousands
(35:15):
of dollars to start.
Speaker 2 (35:16):
So can you give me an example of when or
how he knows when to buy?
Speaker 4 (35:21):
Yeah, good question. So let's talk about Coca Cola because
we're talking about that one. Before he started buying shares
in Coke in nineteen eighty eight, right after a major
crash in the market, when everyone else was panicking in selling,
he was like, oh, this looks like a good time
to buy. And he saw Coke as kind of like
a really strong global brand that wasn't going anywhere. He
(35:42):
said what you said, He was like, everyone's going to
drink Coke forever. Yeah, like what and he invested get
this one point three billion dollars USD not Australian USD.
Then decades later, Berkshire Hathaway still holds that investment. Guess
how much it's worth. No, twenty five billion dollars and
(36:03):
that's not even counting all the dividends that have been
paid to them over that period of time.
Speaker 2 (36:07):
He didn't buy it to flip it. He bought it
so that he could hold it.
Speaker 4 (36:11):
Literally forever, because he, like you and I, believe in
the business. Yeah, not a buzz and we're like every
pub is going to sell Coke. McDonald's sells. Coke's going nowhere.
Speaker 2 (36:22):
You know. Yeah, I don't know if.
Speaker 3 (36:24):
I would ever trusted enough to put one point three billion,
but he did.
Speaker 4 (36:28):
They don't even have that amount, so it's not actually
an option for me. But I can see where he's
going with that.
Speaker 2 (36:33):
That's incredible.
Speaker 3 (36:34):
Well good on him, I actually, I mean, if you
have it, I would trust that Coca Cola would be
around forever. So he he kind of like, you know,
he sees the reliable companies, the strong companies.
Speaker 2 (36:45):
What about companies that like haven't even hit the market.
Yet like they're just hitting the mark for the first time.
Speaker 4 (36:49):
Yeah, and we've done like a whole episode on IPOs.
So an IPO is an initial public offering, and that's
when a company like hits the market for the very
first time and there's massive hype around it, right because
like you know, if it's company you and I have
bought and it's always been private, now it's public, we
get really excited. We're like, oh my god, like I
can't believe that, you know, this brand is going to
be available for us to buyers consumers.
Speaker 2 (37:11):
How exciting.
Speaker 4 (37:12):
But Buffett he's like, Nah, screw IPOs, that's silly. Oh
he doesn't like them at all. Like he's famously known
for being like, I am not going to do that.
In fact, if it hits the market and I'm a
good investor, I'll just watch how it's going. I'll invest
in them later. Thanks, though, Well, like he literally doesn't care,
and he literally just thinks that it's silly to do that,
(37:34):
Like he's like, I'm not going to take a risk.
That's too much of a risk. And for years he's
pretty much said I avoid them completely entirely, Like I'm
just not playing that game. Not because IPOs are bad,
but because he thinks, and I agree with this, they
are surrounded by so much hype, Like people get so excited.
There's often inflated pricing and not good long term value
returned because you don't even know how the company is
(37:56):
going to do once it goes public. Right, Yeah, that
is a new iteration of the business. It's been private
for years, Like is that going to be a good
thing for the business? Sometimes it's not. And his logic
is relatively simple there. He says that when a company
launches an IPO, it's often at a price that is
best for them, not best for you.
Speaker 2 (38:12):
Oh God, he's good.
Speaker 4 (38:14):
But like that kind of low key makes a lot
of sense when you put it. That's yeah.
Speaker 2 (38:19):
He's a hard man to intrigue, isn't he.
Speaker 4 (38:20):
Yeah, he's kind of like, Oh, if they're going to
put their company on like public offering, yeah, it's going
to be for their benefit.
Speaker 2 (38:27):
Otherwise why would they do it? Yeah? Yeah, you go,
well that makes sense. Shod If he was.
Speaker 3 (38:32):
In my world, it would be my life's goal to
make him more impressed.
Speaker 2 (38:36):
Yep.
Speaker 4 (38:36):
It's literally designed according to him, and I agree with this,
but designed to make the company and its early investors
the most amount of money possible, not the person jumping
in on day.
Speaker 2 (38:45):
One and hoping to get rid of and no good.
This is classic buffet.
Speaker 4 (38:49):
Like he has said before, on a buy when things
are undervalued, not overhyped. So an IPO for him does
not make sense. He said, he prefers to, you know,
wait until the business has proven itself publicly before he
even considers investing in them. And there's even a quote
where he said, I don't participate in IPOs. The sellers
have the knowledge, the buyers have the need. It is
(39:11):
not a level playing field. He's so good, he's obviously
he's worth one hundred and fifty billion dollars, so you
know something about something.
Speaker 2 (39:18):
But while other.
Speaker 4 (39:20):
Investors are out there being like, oh my gosh, I'm
chasing the next unicorn. I'm going to like evaluate all
these IPOs, he's just sitting back with a coke and
he's just like waiting, He's just vibing.
Speaker 2 (39:29):
He gets free cokes. Do you own that much? Surely
you get sent like slabs a free coke. I'd say so.
Speaker 3 (39:36):
But also I feel like at a certain point, we
have so much money that like a coke would feel free.
Speaker 2 (39:41):
It would be like, yeah, that's true. A tenth of
a cent for us, that's true. You know.
Speaker 4 (39:46):
So he's just sitting back, he's holding his coke. He's
probably in a really comfy armchair, and he's like, maah,
I'm going to watch and if that company turns out
to be strong, profitable and fairly priced after the buzz
Philim dies down, then maybe I'll invest.
Speaker 2 (39:58):
But it's gonna be on my term, so chill, so nonchalant.
Speaker 4 (40:02):
She's like whatever, like, if it's a good company, I'll
invest later.
Speaker 2 (40:06):
No worries.
Speaker 3 (40:06):
He is so smart, so he invests for a living.
So he has like all this time, I would assume,
I mean his career. As his career, he like spends
time researching individual companies. But like the rest of us,
we have to do we have to do the same thing.
Speaker 2 (40:18):
Well, like you.
Speaker 4 (40:19):
Could like copy him, yeah okay, yeah. So like even
though he spends his entire life, literally ninety four years
of it now, researching individual companies, he's literally the first
to say that most people don't need to do that.
Do you know what his advice is, Yeah, he says,
go buy an index fund. Index fund, like an ETF. Yeah,
go do what Beck's done.
Speaker 3 (40:37):
Do what I do. And he did say that as
he did do Like I called him up before and
he was like, oh have you do you know becksied
and I was like, oh, yeah, I've heard of her,
and he said, just invest like her, just copy her.
Speaker 4 (40:46):
But literally he believes in them so much that in
his will he's left instructions for how his wife should
invest her inheritance when he passes, and he literally said,
put ninety percent of the money that you get from
me when I'm dead into a low cost s and
P five hundred index fund, and the other ten percent
into government bonds, full stop.
Speaker 2 (41:05):
End of story.
Speaker 4 (41:06):
Wow, go do that WiFi, because like this is fun
for me and I get it, but like it is
actually just not worth spending all your time and money
and energy researching.
Speaker 2 (41:17):
It doesn't make sense.
Speaker 4 (41:18):
So this guy could literally hand pick any stock on
the planet and he goes, you know what, you probably
should just go buy a broad market ETF.
Speaker 2 (41:27):
Go get ye, get a little index fund. Beck like
track the market. Yeah yeah, yeah, But the man's not wrong.
Speaker 4 (41:33):
And one of the simplest ways to access something like
that is through an ETF.
Speaker 2 (41:37):
And we know all about these.
Speaker 4 (41:39):
We've done an entire investing series on what an ETF is,
what is an index fund?
Speaker 2 (41:44):
How do they work? Like some of them can be
like the top.
Speaker 4 (41:47):
Two hundred companies in Australia or the top two hundred
companies in the world, Like you can pick anything, but
they are well diversified and honestly, they are one of
the most beginner friendly ways to follow.
Speaker 2 (41:57):
Buffet's logic.
Speaker 4 (41:58):
Yes easy, and he said time and time again that
most people would actually be better off completely ignoring the headlines.
Speaker 2 (42:05):
Do not read the.
Speaker 4 (42:06):
News, do not look at the stock market app on
your phone, ignore the hype. Just consistently invest in low
cost index funds. Just go put your money there, and
don't talk about investing.
Speaker 2 (42:17):
Don't talk about it.
Speaker 4 (42:17):
Don't talk about it, because it removes all of the
pressure to pick quote the right stock or the right share,
and it replaces it with something that actually works, and
that is time in the market.
Speaker 2 (42:27):
Time time, time, that's literally it. Just wait.
Speaker 4 (42:30):
Just imagine the biggest investor in the world being like,
don't bother honestly, like, just go buy a index fund.
Speaker 2 (42:36):
Yeah, I mean I'm going to listen to that. Actually
I actually.
Speaker 4 (42:40):
Do and that's why I just have I've got like
my satellite investments, but majority of my investing.
Speaker 2 (42:47):
Wealth is just in ETFs. Yeah. Fair, so, I mean
I've personally taken away from a lot of this. But
let's boil it all down. What do you want everyone
to take away from the episode?
Speaker 4 (42:56):
Okay, so if we want to be a big dog
investor like Warren Buffett, we can take away a few things.
So start early, Let time do the heavy lifting. No
such thing as too small of a beginning. So compound
interest is going to be your best friend. And Buffett's
whole fortune is basically a love letter to long term
(43:16):
investing in compound interest. The next is, don't try to
time the market like he can't. You can't, we can't.
After trying to do this, he tried to do it
at eleven and he decided, ah, that's not really for me.
He never made the same mistake again. And the goal
is to stay in, not jump in and out of
the market. Yeah, there's some research out there Beck that
(43:37):
says if you miss the five best days I think
it's five best days in the market because you're trying
to time the market, you will have half the wealth
that you intended to by retiring. Okay, I have good days.
You can't time the market. The next is and I
love this. Just investing what you understand. If you don't
understand it, you're not buying it. If you can't explain
(43:58):
how a business just makes money, you should not be
investing in it. Simplicity is power. Then we're going to
ignore the hype, he said, not worth it. IPOs absolutely not,
whether it's crypto or like hot stocks that people are
talking about. Buffet's not interested, and baby, neither are you.
He's going to wait until the hype dies down he
can see the value. He doesn't listen to headlines. And
(44:19):
then I've got two more points. You don't have to
pick stocks at all. Just go buy an index fund.
Easying to him, his number one recommendation for most people
is a low cost index fund. Set it, forget it,
let time do the work. I think that's very sexy.
And the last thing is control your emotions. So investing
(44:41):
it's not about maths. It's kind of about like mindset
and being in the right mind frame. Like he's not
getting caught up in the headlines. He's not thinking about like,
oh my goodness, what's that company going to do. Like
if he's invested for the long term, he's in the
best investors are the ones that are able to stay
calm when everyone else is panicking.
Speaker 2 (44:59):
Okay, so I think breath work is the Oh yeah,
I reckon. He does a lot of meditation. He's constantly
in the moment. Yeah, exactly, get from him exactly, never
thinking you know, No, he's just a vibe. Yeah, I
love him. I love him. I'm really checking menia. I
see what you mean.
Speaker 3 (45:14):
Now, I'd like to go to AGM whatever you said
before the.
Speaker 4 (45:17):
Berkshire Hathaway ag if you could take me, Yeah, honestly,
I'd do a whole log on it for you.
Speaker 2 (45:21):
Thank you. So guys, that is all from us today.
Speaker 4 (45:24):
But if you're ready to start your own investing snowball rolling,
my investing masterclass is made to give you the confidence
to start investing.
Speaker 2 (45:32):
It's beginner friendly, totally jug and free. I'm going to
put all.
Speaker 4 (45:35):
Of the details in the show notes because we have
an intake opening literally right now. And of course don't
forget to like and subscribe. We've got so much more
investing content coming away. That's it for today. We're going
to see you on Friday Guys Bye Bye guys.
Speaker 5 (45:54):
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Speaker 2 (46:13):
Advice tailored towards your needs.
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(00:22):
beautiful friends, we gather on the lands of the Aboriginal people.
We thank acknowledge and respect the Abiginal people's land that
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podcast acknowledges culture, country, community and connections, bringing you the tools,
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Speaker 2 (00:44):
She's on the Money. She's on the Money.
Speaker 3 (01:07):
Hello, and welcome to She's on the Money, the podcast
that lets you in on the financial strategies billionaires swear
by without needing a billionaire bank balance.
Speaker 2 (01:15):
I would like one, though, wouldn't mind it? Actually, you
know what, I.
Speaker 4 (01:17):
Take all of that back. I've said publicly before, and
I don't want to be a billionaire.
Speaker 2 (01:21):
You don't want to be billionaire asolutely not. I wouldn't
hate it if it was. I was like, you want
to be where you are now, you want to be
a billionaire?
Speaker 4 (01:26):
Would you don't need a billion? Nobody like from if
not one person needs a billion dollars.
Speaker 2 (01:31):
That's very true. VD.
Speaker 3 (01:32):
Well, today we're actually looking at the investing strategy behind
one of the biggest fortunes on the planet, and of
course we're going to show you how you can use
it to whether you are starting at fifty dollars or
fifty thousand dollars.
Speaker 2 (01:43):
I would like to start fifty thousand dollars.
Speaker 3 (01:45):
That's not too bad. That's not billionaire status. That's just
it's modest. I'm excited and with me is retired financial
advisor and expert in all things investing, in all things
in general, Victoria Divide.
Speaker 4 (01:55):
Hello, Beck, I'm so excited and I know that we're
going to talk about like a billionaire investing strategy today,
but like let's get rich, but like not that rich?
Speaker 2 (02:03):
Yeah, yeah, yeah, I don't know at what point, like
what's the level?
Speaker 4 (02:06):
Right, There's like people always say, like money can't buy happiness,
which I disagree with.
Speaker 2 (02:10):
Because I think money.
Speaker 4 (02:11):
Buys freedom, right yeah, and like if you've got freedom,
you are healthier, happier, like spiritually, mentally, all of that stuff, right,
Like I will not put up with anyone being like
money can't buy happiness, You're right, Like there's a cap
and a believe from research, it's like eighty two thousand
dollars a year is the cap at which if you
earn that much, like you're happy. And I mean this
(02:35):
is not to say that you're not financially stressed like
we are Casey lives right now, like we don't need
to go back and forth, but about eighty two thousand
dollars apparently is the limit at which any more money
doesn't make you any more happy, Like you just stop
having an increase in happiness because of your finances.
Speaker 3 (02:55):
Right, I mean, it's at the very least still take
away the crippling anxiety of constantly being brogue or in debt.
Speaker 2 (03:02):
So I think, yeah, but that's one hundred two tho.
Speaker 4 (03:05):
But at the same time, on the flip side, I
am an ex financial advisor. As you mentioned, I love
talking about money, I love investing, and I love talking
about you know, this guy is one of the longest
running investors and like arguably the most successful investor the
(03:26):
share market has ever seen. Like and I'm not being dramatic,
here has ever seen like this. One individual has made
literally billions of dollars And I've got a lot of
conversation like not for now, but like you don't need
to continue to hold billions of dot can you imagine
the impact you could have? I know, Like, don't get
me wrong, we like I want to be rich, Like
(03:47):
that's no secret. I'm she's on the money, Beck, Like
I want to be financially secure. I want to you know,
be able to provide for my children all of that.
But at what point should you be giving away your money?
Speaker 2 (03:59):
Yeh, yeah, I don't know.
Speaker 4 (04:01):
Different conversation that just makes me very uncomfortable. But the
best investor, the not just Australian but the world wide
share market has ever seen, is Warren Buffett.
Speaker 2 (04:12):
Warren Buffer, Warren Buffy but Warren.
Speaker 4 (04:15):
Buffett, right, yeah, And he is known as being like
the pinnacle, Like there are people that follow this man
to a teeth. He makes an investing decision, they make
an investing decision. And I believe that there is a
lot we can learn from him, because as much as
I don't necessarily agree with being a billionaire, he's an
(04:35):
incredibly smart man. And there are so many people who
have been quite critical of him historically, not because he's rich,
but because they're like, oh my god, if he'd invested
in this business earlier, he would have made even more money.
But he's very calculated with his decisions. And I think
we can learn a lot from that.
Speaker 3 (04:53):
Okay, And I was gonna you did kind of answer
it for me. I wouldn't to do, like why is
it beg deal? Like how do we even know?
Speaker 2 (04:59):
Like did we just try?
Speaker 3 (05:00):
Like It's all sounds so confusing to me, because how
like I could be a good investor, but no one.
Speaker 4 (05:05):
But he's not a publicly trading company, so he shares
all of this public clear right, so he's investing decisions
are news like, So whenever he makes a trade, his
company puts out essentially a press release says, Warren's invested
in X. And this guy nowadays is not like putting
ten dollars on after pay. He's like making big, big,
(05:29):
multi million dollar moves. And because he's got a publicly
listed company, he legally has to disclose that as well.
So everything he does is public knowledge.
Speaker 2 (05:39):
Okay, that makes sense. I guess.
Speaker 3 (05:40):
Like the thing is he's kind of like using a
lot of money and so probably making a lot of money.
Speaker 2 (05:43):
But did he start there? He started from scratch and okay,
you know, we might get into it.
Speaker 4 (05:48):
And it's actually funny if you if you want to
see humble, google his car and google his house.
Speaker 2 (05:55):
So he still drives his I believe it's.
Speaker 4 (05:57):
Like a Toyota Camri because I don't need that, Like
why do you need a new car? And he still
lives in the family home that he and his wife
bought because he's just like, I don't need anything more
than that. So I would say relatively well balanced. But
he's literally like rich rich, Like he's not just like,
oh he's wealthy. He's one of the ten wealthiest people
(06:19):
on this planet. And currently, if we do a little Google,
he's worth more than one hundred and fifty billion dollars.
Speaker 3 (06:28):
WHOA, that's like everything he when people say worth, is
that like everything you own?
Speaker 4 (06:33):
Like it's everything he owns. All of his investments includes
his car. Yeah, that's one of his askcts.
Speaker 2 (06:39):
The car. The little Twitter come includes the car. That's
so cute, young glad they included that, Yeah, but he didn't.
Speaker 4 (06:43):
I think a lot of people assume that when you're
a big dog investor, you must have come from family wealth.
I've actually just finished Sirens on Netflix, which is a
fantastic series. Like I binged to the whole thing about
like people in upstate New York like doing that very
Deen's vibes. Yeah, really rich billionaires living their rich lives anyway,
(07:04):
very fun. But a lot of that wealth that you
see is often inherited. But he actually built all of
his wealth by investing and other businesses since the fifties.
Like this guy's old Beck Like he is old, and
people are still following this guy who way past retirement
age because he just makes such good decisions. In fact,
(07:26):
I told you before that he has a publicly listed company.
He runs one of the most powerful companies in the
world as the chairman and CEO of Berkshire Hathaway, which
is actually worth Get this got to be sitting down,
it's worth more than a trillion dollars.
Speaker 2 (07:43):
Okay, well that's unnecessary.
Speaker 4 (07:46):
That's actually like, that's more than I can actually comprehend.
And Berkshire so his company actually owns or invests in
companies that you definitely know, so.
Speaker 2 (07:56):
We can do this too, but maybe not to the
extent that he does.
Speaker 4 (07:58):
But he owns things like Apple and Coca Cola and
Amex and the Bank of America and Dairy Queen. He
owns Jurisicelle batteries and he also owns tins.
Speaker 2 (08:08):
Oh, okay, well I have like ten dollars and Apple. Yeah,
good job, honey, I did not think about the others.
Speaker 3 (08:15):
Okay, well, well I really can't wait.
Speaker 2 (08:17):
Jansen and apparently means means billions. God, he see his
potential and everything, doesn't he Dairy Queen? Who would have thought?
Speaker 3 (08:24):
So? Why has Warren willfour been in the headlines again recently.
Speaker 4 (08:28):
Because he has come out and said, guys, I'm retiring. Wow,
I'm just I'm going to take a step back. I'm
going to create a retirement plan. He has been working
at Berkshire Hathaway for sixty years or more than six decades,
and he's finally confirmed that a guy called Greg Abel
is going to be taking over. Because you know how
(08:50):
I said, like, oh, he's old old Beck, our friend Warren,
he's ninety four.
Speaker 2 (08:55):
Oh and he's just yeah, and he's just still willing
and deal.
Speaker 4 (08:58):
Then Yeah, like my grandpa made it to ninety four
before he passed away, and like he was as sharp
as attack.
Speaker 2 (09:05):
So I have no doubt that this guy is still
sharp as attack.
Speaker 4 (09:08):
But he needs a little bit of like retirement time,
a little bit of down time. Maybe time to enjoy
thirty is too late, roughly.
Speaker 2 (09:15):
But enjoy the billions you've made. Yeah, seriously, on a holiday,
maybe he could go on a trip to Bali with
his sam. It's never too late. It's absolutely never too late.
It's not well, it's shocked me.
Speaker 4 (09:24):
It's massive news because lots of people just assumed that
he would never retire because at the end of the day,
like you know, he's eighty, and then he's eighty five
and then he's ninety, still just pushing on running this company.
But now he's ninety four and he's like, actually, probably
should put in place some retirement plans.
Speaker 2 (09:40):
Greg Abel's been waiting.
Speaker 4 (09:42):
He's just been in the back being like, Hey, is
this ever going to be my time to shine?
Speaker 2 (09:47):
Or am I going to retire before you? What's going on?
Speaker 4 (09:49):
But it's big, big news because Warren Buffett has been
I would say, the face of investing for sixty plus YUS. Yeah,
like he has been the guy everyone writes books about.
He has been the guy that everyone turns to during
economic downturn to be like, what are the big moves
Warren's making? What's going on here? If he's trusting this,
(10:09):
we trust that. And he's been essentially the biggest influencer
in that space, well the OG influencer exactly. And the
announcement was made recently at the twenty twenty five Berkshire
Hathaway AGM, which this is going to sound so lame.
I invest in Berkshire Hathaway because like, one day I'm
hoping that as an investor I can go to their AGM.
(10:30):
Oh isn't that the lamest thing even at all?
Speaker 2 (10:33):
Is this?
Speaker 3 (10:34):
Like this has happened before or you're just like we
can go You'll see me.
Speaker 4 (10:38):
Yeah, yeah, Like imagine being able to go to the anyway,
That's just what I'm like. Oh, bucket list items sair
And it's actually the first major one without a guy
called Charlie Munda there by his side. So this guy,
which you probably haven't heard of in the same way
that you've heard of Warren. He was the long term
business partner and absolutely investing icon in his own right,
(11:00):
but he was a business partner of Warren. But unfortunately,
Charlie actually passed away in late twenty twenty three, and
he and Warren had worked together for more than sixty years.
So I wouldn't be surprised if this was one of
the reasons that Warren's kind of like, well, if he's
not here, you know, it's not as fun, like, you know,
two mates more than sixty years making big decisions together
(11:21):
is kind of like, I'm kind of out.
Speaker 2 (11:23):
That's devastating, Yeah, exactly.
Speaker 4 (11:25):
And people are actually calling it the end of an era,
which I kind of feel in my bones as well.
Speaker 2 (11:30):
I'm like, well, who are we going to follow now?
Who's the like big dog in this space?
Speaker 4 (11:34):
There isn't anyone who has ever been as influential or
correct about the markets as Warren Beck. There's also and
I feel like I'm just harping on about this, but
like this is kind of like this is.
Speaker 2 (11:46):
My real housewives? Are you in ye element? So I'm
just vibing it.
Speaker 4 (11:50):
There's another big thing that lots of people in the
industry are kind of like whispering about. And that's because
Berkshire Hathaway. So his company is actually sitting on a
lot of cash. So there is one hundred and eighty
nine billion dollars worth of cash sitting in that business.
Speaker 2 (12:07):
Do you mean physical physical cash? Really?
Speaker 4 (12:10):
Yes, So like if you logged into their you know,
online transactions, that's how much cash they're sitting.
Speaker 2 (12:16):
I see, I see, I see it.
Speaker 4 (12:17):
So it's just in their bank like probably not in notes,
but like see, you know, that's what he's got in
the business bank account, which is in addition to all
of the investments that that business owns Okay, And essentially
Warren's been stockpiling this for years, obviously because you can't
just save one hundred and eighty nine billion dollars in
(12:38):
a year. But he's been stop piling it for years,
and he's been choosing not to make massive moves in
what he has been calling.
Speaker 2 (12:44):
A really overpriced market.
Speaker 4 (12:46):
And now that Greg is taking over greg Able, I
was telling you about him before, everyone's asking, well, what
are you going to do?
Speaker 2 (12:54):
Greg?
Speaker 4 (12:54):
What are you going to do with all this cash?
Like is the business going to be investing more? You're
a literal investing company. And you got all this cash,
like that doesn't actually make a lot of sense. So
between his age and his legacy and the future of
literally one of the biggest companies in the world, everyone's watching,
or everyone in the investing world, including me, is watching.
You're probably like, I still don't care.
Speaker 2 (13:14):
Be probably and that's cool. That's cool. One.
Speaker 4 (13:17):
I'll just tell you about it and you can be like, oh,
I know that. So next time you're at the pub
and people go, oh, do you know what Berkshire Hathaway is,
you'd be like, oh my god, yeah, I can't believe
he's sitting on one hundred and eighty nine billion dollars.
Speaker 3 (13:28):
Will in the North and no one know what berkeshear
hath the way is. But I appreciate that you've given That's.
Speaker 2 (13:34):
Okay, that's all right.
Speaker 4 (13:35):
I will continue to try and say when you give
me the information.
Speaker 2 (13:39):
It's actually quite engaging. I'm trying. I really like it.
Speaker 4 (13:42):
But essentially it's like our mate Warren Buffett's like final chapter.
So literally everyone in the investing world is going to
be looking and being like, well, is he going to
go out with a bang? Is he going to go quietly? Like,
what's he planning on doing sure, especially with so much cash,
like he could do so many things.
Speaker 3 (13:58):
Yeah, I guess, Like it's a shocking amount of money,
Like how did he get there? What makes him so
good at a missing Like what is he seeing that
we don't see?
Speaker 2 (14:06):
Mate?
Speaker 4 (14:07):
If I could be, like I always say, and you've
heard me say this on the show before, like if
I could time the markets, I'd be a very rich woman.
And unfortunately nobody can time the markets except.
Speaker 2 (14:18):
Seemingly like Warren.
Speaker 4 (14:19):
Yeah, except he doesn't time the markets. Even he says
that timing the markets is silly, Like he's come out
before and been like that is absolutely ridiculous. But it
is a very good question to ask if someone who's
worth more than one hundred and fifty billion dollars individually.
But because he's not like a super flashy person, he's
not gambling in crypto, he's not day trading. He's quite
(14:40):
literally the opposite, and he's exactly what she's on the
money preachers, I would say that his entire investment strategy
is deeply un sexy, Like there's nothing about his strategy
that you go, oh, big moves, big dog, Yeah, you go,
that's kind of low key really boring but okay. But essentially,
(15:01):
even though his investing strategy is I would say, offensively boring,
that's the point, Like, the entire point is to be
as boring as possible when it comes to investing large
amounts of money and even small amounts of money, because
he started.
Speaker 2 (15:17):
All on his own.
Speaker 4 (15:18):
And I'm going to give you a little bit of
a cliffhanger because we're going to go to a break,
but we're going to unpack exactly how he built his
fortune and exactly how you can use exactly those same
strategies even if you've only got fifty bucks to start with,
or like Beck, what have you got now, like three
hundred dollars in chersias?
Speaker 3 (15:33):
Yeah, okay, this is going to sound crazy and almost
unrelatable to I just don't want to be that's.
Speaker 2 (15:39):
Not unrelatable girl, If you can do it everyone.
Speaker 3 (15:41):
Yeah, literally literally, I have like six hundred and eighty
sorry what four dollars or something like that.
Speaker 2 (15:46):
Six hundred and eighty four dollars keep going down, But
that's Oksey, it's a little longing consistently investing. Yeah, I'm
so proud of you.
Speaker 4 (15:53):
Thank you.
Speaker 2 (15:54):
Let's go to a break. And then we can give
you all of Warren's advice after this.
Speaker 3 (16:01):
Okay, everyone, we are back, and Vid left us on
a cliffhanger, basically like everything they should do that.
Speaker 2 (16:07):
You've got more than six hundred bucks in your investing.
Speaker 4 (16:09):
Platforms, so wild Can we go back like a year
or even two years? Yeah?
Speaker 3 (16:14):
Fully, maybe Beck would be like, what no, no, I
still don't have an emergency fund, which I know is
not getting this get He wins the race exactly, which
is perfect because we're talking that kind of like reminds
me of tortoise in the hair, which I would think
Warren Buffett is like the tortoise in this situation, like.
Speaker 2 (16:32):
All of his movies.
Speaker 4 (16:32):
At ninety four, I feel like he's giving tortoise vibes
totally totally because he's.
Speaker 3 (16:37):
Like, you know, not doing making big moves, risky moves.
It sounds like it's just all kind of like boring
and whatever. But what can we learn from him.
Speaker 2 (16:46):
We can learn from his love of compound interest.
Speaker 3 (16:49):
Ha.
Speaker 4 (16:50):
So the money that your money makes makes money. And
given his ninety four he is one of the greatest
living examples of the effect of compound interest. I have
spoken about compound interest time and time again. I think
it is the sexiest thing in the entire world. Essentially,
compound interest is the interest that your money earns making
money for you. So your money is making money, and
(17:13):
then that money is free money. And Beck, we love
free money. Love free money, we love free money. So
you earn money, and.
Speaker 2 (17:18):
Like, I'm just trying to double down, but like.
Speaker 4 (17:21):
You earn money on the original amount, and the next
time that original amount plus the money you earned is invested,
and so it just gets bigger and bigger over time.
And that might not feel very powerful after one year,
but after ten years, your money will have more than doubled.
Like your six hundred dollars, Beck, if you did not
invest another dollar based on current market returns, nine point
(17:45):
four years is what it's going to take to be
twelve hundred bucks. WHOA, that's so crazy, isn't that kind
of cool?
Speaker 2 (17:50):
Yeah, that is really cool.
Speaker 4 (17:51):
So in his autobiography, which obviously I'm quite a fan of, Beck,
I wouldn't recommend it, okay unless you're me, ah, I see,
just feel like if I made a book recommendation for you,
it wouldn't be that one. But in his autobiography, Warren
actually explains it as like a snowball rolling down a hill,
picking up more and more snow as it gains momentum,
(18:14):
until it becomes a massive snowball. And I feel like
we can all understand that. And we also learned in
that autobiography that he actually, and this is deeply unrelatable,
he started investing at eleven years old, and he also
said he wished he started sooner.
Speaker 2 (18:30):
That is, who what where does an eleven year old?
You know what? I wouldn't be surprised if he's a
neurospicy friend. Yeah, that sounds about right.
Speaker 4 (18:39):
Some of us like trains, He likes con found interests. Yeah,
and from a very young age. I think he has
been hyper fixated on this. I see imagine being like, oh,
I started investing at eleven.
Speaker 2 (18:50):
That's wish I'd done it earlier. Like I can't z
can't believe I was in.
Speaker 4 (18:55):
Prep, can't believe I was wasting time doing finger painting.
Speaker 2 (18:59):
I know that's is it even legal at eleven? As
like saying I started driving when I was eleven. I
wish I did it earlier, but like, are you even
allowed to at that point? How does he have money?
Was heney?
Speaker 4 (19:08):
You'd have a number of questions. But I guess it
doesn't mean you had to be a stock prodigy in
primary school, yes, to start building wealth, because like, that's good,
you're starting now and you're going to be so financially secure.
It kind of just highlights the power of starting early
and getting in as soon as you can, and that
(19:29):
from small things, big things literally can grow. And the
more time your money has to grow, the more of
it there is going to be. So I guess it's
just let's not put so much pressure on ourselves that
we are expected to invest at eleven, but let's maybe
remember or use it as a little reminder that starting sooner,
even with small, tiny amounts, is going to give you
(19:50):
a massive head start thanks to compound interest. Okay, I
mean he started investing at eleven, beck, Yes, he had
his first million dollars by thirty two. Oh okay, okay, okay,
So it wasn't like a millionaire by twelve. Yeah, yeah, yeah,
which I feel like a lot of people are like,
this guy's a prodigy.
Speaker 2 (20:09):
He was probably like twenty one. No, he was thirty two.
Speaker 4 (20:12):
I mean that's still deeply unrelatable, especially right now. But yeah,
that's like our age, very very cool, And a vast
majority of his estimated like one hundred and fifty billion
dollars of wealth was actually accumulated after he turned fifty.
Oh compound interest though, yeah, okay, this is seventy.
Speaker 2 (20:30):
Five billion dollars. That's a lot of money.
Speaker 4 (20:32):
But if he didn't invest another dollar in, just kept
letting it tick over another ten years, that becomes one
hundred and fifty billion dollars. Why because like the same
thing happens. It's like, you know, using your example of
your six hundred and it being twelve hundred and ten years,
that's so sexy, but like same amount of growth happens
on a larger scale. So for him having you know,
(20:54):
a couple of billion dollars, that's double.
Speaker 2 (20:57):
Yeah, isn't that kind of crazy? That is crazy.
Speaker 4 (21:00):
So in America, CNBC, which is like a network over there,
they did a really interesting comparison between Warren Buffett and
a guy called Jim Simon's and over his investing life,
which started, as I said before, when he was just
eleven and stretched into his literal nineties. Buffet's average returns,
(21:20):
according to them, was twenty two percent. Well, so like
literally more than doubling what we use as an expected
market return every single year.
Speaker 2 (21:31):
Yeah, okay, that's really good.
Speaker 4 (21:34):
But we look at Jim Simon's, who's also often referred
to as like a ridiculously successful investor, if not one
of the biggest and best investors in the world as well,
but lesser known. I think because he's been around for
less time. Sure, Jim's investment return back every year of
his life sixty six percent per year.
Speaker 2 (21:52):
How does he do that?
Speaker 4 (21:53):
Well?
Speaker 2 (21:53):
I know that, So do you think's worth more money?
Speaker 3 (21:57):
Well, because maybe it's a true question because twenty percent
the sixty six percent, obviously, But then he hasn't been
around very long, exactly.
Speaker 2 (22:07):
I still actually I'm just I'm going to say, Jim, no,
it's not.
Speaker 3 (22:10):
Jim.
Speaker 4 (22:11):
Worn still runs rings around him because even though, like
Simon's has had high return, he didn't start investing seriously
until it was like fifty and Worn has had decades
of compound interest on your side. She was kind of
disposed to prove that the best asset isn't actually finding
super high returns, it's giving your money time to grow time.
Speaker 2 (22:31):
And I find that so exciting.
Speaker 4 (22:33):
But at the same time, it's literally what we preach
on cheese on the money, Slow and steady wins the race.
You use the example before Beck of the tortoise and
the hair, and like we're looking at Jim going, oh
my god, what a good hair. But like slow and steady,
he's just essentially hocking cash back there.
Speaker 2 (22:51):
Okay, Well, honestly, a part of me is quite comforted by.
Speaker 4 (22:54):
The fact that it's it's just slow and steady winslow
and steady. So obviously, starting early, worn this massive edge.
I need to like what the brick he's investing in
it at eleven though, Yeah, like what are you picking?
Speaker 2 (23:07):
Right?
Speaker 4 (23:08):
So when he was eleven, he bought three shares in
a natural gas company that didn't exist anymore called City Services,
and he paid, according to research, thirty eight dollars per share.
He watched it drop, he panicked, he sold it it
forty dollars to make a profit, and then he watched
(23:30):
it shoot up way higher than he'd sold it for.
Speaker 2 (23:33):
And it's the problem.
Speaker 4 (23:35):
Yeah, that moment really stuck with him, Like he you know,
talks about it in his memoir and he's like, you know,
I bought this company and then I watched it drop
and I freaked out. It's like what we talk about.
You know, you see the market drop and you kind
of get that pit in your stomach. Yeah, that's where
he started to I mean, he did do it at eleven,
which is unrelatable, but it's a good story nonetheless, but
(23:55):
that moment really stuck with him, and it taught him
that trying to time the market and guessing when to
jump in and when to sell was gamble and that
was a terrible thing to do. He's like, I'm never
doing that again. So instead of playing that game, he
changed his strategy. Again, we're talking about an eleven year old.
He started to focus on buying really great companies and
(24:17):
then just holding onto them for the long term. He
was like, I'm just going to be a buy and
hold man. I'm just going to buy good stuff, hold
it for the long term, hope it, you know, gives
me good dividends and consistent capital growth. And in his
nineteen eighty eight Berkshire Hathaway shareholder letter that he sends
out every year, by the way, that's a letter.
Speaker 2 (24:36):
Wow, do you get that? Yes?
Speaker 4 (24:38):
I do, you do, just as a shareholder. You just
get the letter. But did you know so you know,
I said I wanted to go to their AGM. Yeah,
you actually have to apply to go to their AGM
because there's so many people like me who would be
like frothing to go.
Speaker 2 (24:52):
But it's kind of like a ballot.
Speaker 5 (24:54):
You have to like Meredith, Yes I'm doing You're going
to Meredith, and I'm going to Berkshire Hath the way.
Speaker 2 (25:01):
It's far more unlikely that I'll get in. But that's okay.
Speaker 4 (25:04):
But he said in that letter that our favorite holding
period is forever.
Speaker 2 (25:09):
Good good, good good from him, right, So like.
Speaker 4 (25:12):
His friend was, if I'm going to invest in something,
I'm going to do all of the research, all of
the analysis. I'm gonna buy it, never gonna sell it.
Speaker 2 (25:21):
That's his strategy.
Speaker 3 (25:22):
Okay, okay, okay, will you ever enjoy the fruits of
your labor?
Speaker 4 (25:26):
I mean maybe once he's ninety four and he's going
to reach to ninety four. Yeah, maybe he's going to
the Bahamas.
Speaker 2 (25:30):
We don't know. We don't know.
Speaker 3 (25:32):
So how does he actually like Pickle to invest in
because he's you know, picking random things like I'll just
hold this forever. Or is there like a secret formula
or do you have like billionaire instincts.
Speaker 2 (25:41):
I think he has billionaire instincts actually, and that's the
end of the podcast.
Speaker 5 (25:44):
That's it.
Speaker 2 (25:45):
Yeah, yeah, well that's.
Speaker 4 (25:46):
He actually once said never invest in businesses you can't understand,
which I think is really cool. And that's why I'm
always like, do your own research understand.
Speaker 2 (25:54):
And I know that.
Speaker 4 (25:55):
Do you know what I hate when people say and
I say, go do your own research back?
Speaker 2 (26:00):
What the hell does that mean? Am I meant to
google it? Am I meant to look it up?
Speaker 3 (26:03):
Yeah?
Speaker 2 (26:03):
But I want you to go, Okay, if I'm buying.
Speaker 4 (26:05):
Apple, yeah, you kind of know what Apple is, so
you know it like sells iPhones and laptops and whatnot,
but like read more information about well why are they
so impressive? What is their technology? Where are they made
all of that stuff? You want to deeply understand. If
Warren can't understand how the business makes money in a
sentence or two, he will not touch it. It doesn't
(26:27):
matter how much hype there is, it doesn't matter what's
going on in the market, it doesn't matter how much
money people are making. He's like, Eh, that's not worth
it to me. Like he is arguably a very simple investor.
He's like, if I don't get it, I'm not investing.
So instead of chasing the next big thing, like lots
of verse often want to, because we're like, oh, but
if I invest in that make it like sixty six
(26:48):
percent profit. We don't want sixty six percent profit. It
does sound sexy in the short term, but like that's unsustainable.
Then you're chasing the next big high and you kind
of become like a drug addict version of it in stuff, right,
And that's not cool because we don't want to chase
the next big high. So instead of you know, chasing
the next big tech company or getting sucked into stuff.
(27:08):
You know that he doesn't really fully comprehend like crypto
or maybe AI, where he's like, I can't fully explain
this in a sentence or too, and while it sounds impressive,
like a lot of it eludes me, I'm not that
into it. He actually sticks with businesses that are super boring. Okay,
think the companies I was telling you about before, Coca Cola,
(27:29):
insurance companies, railroads, banks, all of these things that you
go is a bank sexy?
Speaker 2 (27:36):
No? No, But if you look.
Speaker 4 (27:37):
At you know, for example, here in Australia, I always
use the example of NAB. They've never not paid their dividends. Yeah,
like they are always paying their investors. That's low key,
very sexy.
Speaker 2 (27:49):
Love, very cool.
Speaker 3 (27:50):
So you would say, like if you understand it, then cool,
But like when is it understandable completely clear? I understand this,
but it's not worth investing. How does he know it's
worth investing in it?
Speaker 2 (28:03):
So he has a little bit of a strategy.
Speaker 4 (28:05):
And the next thing he looks at, and he's said
publicly before, is whether it's a great business.
Speaker 2 (28:10):
He doesn't just want a good business.
Speaker 4 (28:11):
He wants a great business to invest in, not just
an okay one. And for Warren that means that there's
a few specific things he's looking at. So the first
one is it needs to be profitable and consistent. So
Buffett looks at business as with a really strong track record,
so like companies that are consistently making money, and not
ones that are relying on trends or hypes or like
(28:33):
a lucky quarter or like the La Booboo company.
Speaker 2 (28:36):
Ah, La boo boo.
Speaker 4 (28:37):
Right, I don't want to talk about La Boo boos anymore,
but like that company, right, worth so much money. He's
made billions out of that, But that doesn't mean it's sustainable,
because how long until people don't give two flying hbout
a laboobo?
Speaker 2 (28:54):
But do you know what I mean?
Speaker 4 (28:55):
Yeah, like the La Boo boo is a trend. Yeah, yes,
he's made billions. If you look at all of the
investing information about that, that company is skyrocketing.
Speaker 2 (29:04):
That's crazy. Go invest in PopMart. Okay, don't don't go
invest in PopMart. I do it for like a week.
Speaker 4 (29:10):
But like, when do you get out? How do you
know when to get out? Are you're going to kick
yourself if you get in? And then you know, they
invent the labuobuo two point zero and it triples again?
Speaker 2 (29:19):
Yeah, how do you know when to leave? Never? You
never leave exactly.
Speaker 4 (29:22):
So Warren's strategy was, like the best investing term is forever. Yeah,
So are you going to own the labuboo company forever back?
Speaker 2 (29:28):
Yeah? True? Maybe not. Don't want that.
Speaker 4 (29:30):
No, I'm going to go get boring one. I'm going
to invest in a railroad or a toll way or
maybe or something that.
Speaker 2 (29:35):
Bank or something like Toyota. Yeah yeah, great, like yeah, okay.
Speaker 4 (29:40):
He wants it to just be profitable and consistent because
The next thing, he says, it needs to be strong.
So that means that the business has something really solid
going for it, like a great brand like Toyota, or
loyal customers, or maybe products that people have to use
every single day. Yes, so it's harder to compete with
(30:01):
businesses that already have a really strong position, like and
I think of companies like I need to use deotoring
every day. Back Rex owner, where's that gonna go?
Speaker 2 (30:10):
Yeah? That's the true, do you know what I mean?
Speaker 4 (30:12):
We're not talking and I'm not saying that these are
like things you should invest in, but we are talking
every day essentials that you know, people are going to
buy it, and even if it's not the best thing
on the market, like so many different things are going
to come up, it's got such a big brand, people
are always going to fall back to it, right, Yeah,
Like you might buy it because you're like, oh, that's
a good brand and it's on special this week. I'm
(30:34):
just consistently okay with that brand.
Speaker 2 (30:37):
Right.
Speaker 4 (30:38):
And then so he said it needs to be profitable
and consistent. The second thing I said, it needs to
be strong. And then the third thing is it needs
to be reasonably priced. We don't ever pay for things.
Speaker 2 (30:48):
Absolutely not.
Speaker 4 (30:49):
Warren would never overpay for something, even if he's obsessed
with a business like he loves it, He's like this
is so good. He will not overpay for it. He's
known for crucking companies for ten, twenty thirty years before
he will invest in it because he's like, that's not
worth it, that is not worth it. Buffett actually waits
for the price to come down to a level that
(31:10):
he thinks he's getting really good value, and then he
buys and then he holds it forever.
Speaker 3 (31:14):
That's a fantastic point because right now I'd be like,
I'm going to go invest in Rex soona, I don't
know what it was before.
Speaker 2 (31:20):
I'm not bothering to check. I'm just going to buy
it right now. But if you wait, you watch he does,
and he waits.
Speaker 4 (31:26):
Then he watches, like to a point where I would
have gotten bored, like I'm not committed like he is.
And that's why Warren is known as a very good
value investor. So he's built his entire fortune on what
people call a very boring stock strategy.
Speaker 2 (31:45):
Boring, boring, boring.
Speaker 4 (31:47):
Wow, this is like he's not chasing shiny things. But
he's not jumping on whatever trends or la boo boo
is going on.
Speaker 2 (31:55):
He is not.
Speaker 4 (31:56):
Trading every time the market wobbles. He's just going, all right,
well we're here, going to stick it out. He's investing
in companies that are stable, that are predictable, and that
make money stuff like banks, railroads, food companies, insurance, Coca Cola.
Speaker 2 (32:12):
We're all ordering coke. Oh yeah, you know what I mean.
We go out of fashion exactly like tried true test it.
Speaker 4 (32:18):
He's not going to sell those shares things that people,
no matter what's going on in the economy, are going
to continue to buy.
Speaker 3 (32:26):
It's very company too, that this doesn't like empty light,
Like it doesn't take an excessive amount of money or
an excessive amount of Like not to say that he's
not intelligent, but like you don't need but like that's.
Speaker 2 (32:36):
The killerst thing, right.
Speaker 4 (32:37):
I think when you start talking about, you know, the
world's best investor, you go, oh, you must be so intelligent.
Like he clearly is very intelligent. I'm not downplaying that
at all. But his strategy, it's not you can replicate it.
The everyday person can replicate it and go okay, cool.
So instead of getting caught up in trends. Maybe I'm
just going to buy blue chip stocks. Maybe I'm going
to go look at a bank. Maybe I'm going to
(32:59):
go look at things like Coke Cola or Apple, like
we just know they're not going anywhere. Like I'm a
consistent girlie. I just want the boring, the standard. I
just want to be wealthy once I retire. And I
guess the idea behind value investing, which is not going
to come as a surprise to you, Beack that I'm
a value investor because I don't want to be trading
(33:20):
all the time.
Speaker 2 (33:21):
What's value investing?
Speaker 4 (33:22):
So value investing is really simple. You're looking for businesses
that are worth more than what they're selling for, and
you're buying and you're holding forever. It's essentially what Warren's doing.
Speaker 2 (33:31):
Oh yes, yes, okay, I see what you're saying. You
just want good value, like you've got a good deal
and then you're going to use it forever.
Speaker 3 (33:37):
Yeah, oh okay, and kind of like put like notification
on on Chazy's.
Speaker 4 (33:42):
You can you can you can also like track something
and go, well, I'm happy to buy that share once
it drops to twenty bucks and you can essentially put
in a trade that says, once that share drops to
twenty bucks, automatically buy it for me, so you can
kind of set and forget your investment strategy.
Speaker 2 (33:57):
That is really good.
Speaker 4 (33:58):
It's kind of like you and I both love thrift,
like we both love an opshop. It's kind of like
spotting a five hundred dollars bag at the op shop
for twenty bucks, and you know it's really high quality
and you're getting it for way less than it's really worth.
Speaker 2 (34:10):
Yeah, and that.
Speaker 4 (34:12):
Exactly, but like you buy it not to resell it.
You go, oh my god, Like it's such a good
quality about I'm going to use this for years, Like
I feel like I've won the lottery, Like I didn't
have to spend five hundred bucks, which I never would
have done. I'm going to spend twenty bucks on this.
I'm gonna have this when I'm sixty, Like this is
so good, Like it feels comfortable, but also you feel
like you've gotten.
Speaker 2 (34:32):
A good deal.
Speaker 4 (34:32):
Right. He essentially does exactly the same thing. He finds
really undervalued companies, buys them, holds them sometimes forever. It's
massive newsback. If he sells a company like if he
sells a company, the stock market goes berserk because that's crazy.
Speaker 3 (34:49):
It'd be so sad if you were like a random
company that he's been invested.
Speaker 2 (34:52):
H he's just putting in the bin.
Speaker 3 (34:53):
And then everyone else would because I would assume you're
kind of following his lead exactly. And as you said before,
like I think the best part about this strategy is
literally anyone can do it. Like you want to start
on shares's with a dollar, you can? You got fifty bucks,
you can. Like this is of you one a massive
investment strategy that you know you need tens of thousands
(35:15):
of dollars to start.
Speaker 2 (35:16):
So can you give me an example of when or
how he knows when to buy?
Speaker 4 (35:21):
Yeah, good question. So let's talk about Coca Cola because
we're talking about that one. Before he started buying shares
in Coke in nineteen eighty eight, right after a major
crash in the market, when everyone else was panicking in selling,
he was like, oh, this looks like a good time
to buy. And he saw Coke as kind of like
a really strong global brand that wasn't going anywhere. He
(35:42):
said what you said, He was like, everyone's going to
drink Coke forever. Yeah, like what and he invested get
this one point three billion dollars USD not Australian USD.
Then decades later, Berkshire Hathaway still holds that investment. Guess
how much it's worth. No, twenty five billion dollars and
(36:03):
that's not even counting all the dividends that have been
paid to them over that period of time.
Speaker 2 (36:07):
He didn't buy it to flip it. He bought it
so that he could hold it.
Speaker 4 (36:11):
Literally forever, because he, like you and I, believe in
the business. Yeah, not a buzz and we're like every
pub is going to sell Coke. McDonald's sells. Coke's going nowhere.
Speaker 2 (36:22):
You know. Yeah, I don't know if.
Speaker 3 (36:24):
I would ever trusted enough to put one point three billion,
but he did.
Speaker 4 (36:28):
They don't even have that amount, so it's not actually
an option for me. But I can see where he's
going with that.
Speaker 2 (36:33):
That's incredible.
Speaker 3 (36:34):
Well good on him, I actually, I mean, if you
have it, I would trust that Coca Cola would be
around forever. So he he kind of like, you know,
he sees the reliable companies, the strong companies.
Speaker 2 (36:45):
What about companies that like haven't even hit the market.
Yet like they're just hitting the mark for the first time.
Speaker 4 (36:49):
Yeah, and we've done like a whole episode on IPOs.
So an IPO is an initial public offering, and that's
when a company like hits the market for the very
first time and there's massive hype around it, right because
like you know, if it's company you and I have
bought and it's always been private, now it's public, we
get really excited. We're like, oh my god, like I
can't believe that, you know, this brand is going to
be available for us to buyers consumers.
Speaker 2 (37:11):
How exciting.
Speaker 4 (37:12):
But Buffett he's like, Nah, screw IPOs, that's silly. Oh
he doesn't like them at all. Like he's famously known
for being like, I am not going to do that.
In fact, if it hits the market and I'm a
good investor, I'll just watch how it's going. I'll invest
in them later. Thanks, though, Well, like he literally doesn't care,
and he literally just thinks that it's silly to do that,
(37:34):
Like he's like, I'm not going to take a risk.
That's too much of a risk. And for years he's
pretty much said I avoid them completely entirely, Like I'm
just not playing that game. Not because IPOs are bad,
but because he thinks, and I agree with this, they
are surrounded by so much hype, Like people get so excited.
There's often inflated pricing and not good long term value
returned because you don't even know how the company is
(37:56):
going to do once it goes public. Right, Yeah, that
is a new iteration of the business. It's been private
for years, Like is that going to be a good
thing for the business? Sometimes it's not. And his logic
is relatively simple there. He says that when a company
launches an IPO, it's often at a price that is
best for them, not best for you.
Speaker 2 (38:12):
Oh God, he's good.
Speaker 4 (38:14):
But like that kind of low key makes a lot
of sense when you put it. That's yeah.
Speaker 2 (38:19):
He's a hard man to intrigue, isn't he.
Speaker 4 (38:20):
Yeah, he's kind of like, Oh, if they're going to
put their company on like public offering, yeah, it's going
to be for their benefit.
Speaker 2 (38:27):
Otherwise why would they do it? Yeah? Yeah, you go,
well that makes sense. Shod If he was.
Speaker 3 (38:32):
In my world, it would be my life's goal to
make him more impressed.
Speaker 2 (38:36):
Yep.
Speaker 4 (38:36):
It's literally designed according to him, and I agree with this,
but designed to make the company and its early investors
the most amount of money possible, not the person jumping
in on day.
Speaker 2 (38:45):
One and hoping to get rid of and no good.
This is classic buffet.
Speaker 4 (38:49):
Like he has said before, on a buy when things
are undervalued, not overhyped. So an IPO for him does
not make sense. He said, he prefers to, you know,
wait until the business has proven itself publicly before he
even considers investing in them. And there's even a quote
where he said, I don't participate in IPOs. The sellers
have the knowledge, the buyers have the need. It is
(39:11):
not a level playing field. He's so good, he's obviously
he's worth one hundred and fifty billion dollars, so you
know something about something.
Speaker 2 (39:18):
But while other.
Speaker 4 (39:20):
Investors are out there being like, oh my gosh, I'm
chasing the next unicorn. I'm going to like evaluate all
these IPOs, he's just sitting back with a coke and
he's just like waiting, He's just vibing.
Speaker 2 (39:29):
He gets free cokes. Do you own that much? Surely
you get sent like slabs a free coke. I'd say so.
Speaker 3 (39:36):
But also I feel like at a certain point, we
have so much money that like a coke would feel free.
Speaker 2 (39:41):
It would be like, yeah, that's true. A tenth of
a cent for us, that's true. You know.
Speaker 4 (39:46):
So he's just sitting back, he's holding his coke. He's
probably in a really comfy armchair, and he's like, maah,
I'm going to watch and if that company turns out
to be strong, profitable and fairly priced after the buzz
Philim dies down, then maybe I'll invest.
Speaker 2 (39:58):
But it's gonna be on my term, so chill, so nonchalant.
Speaker 4 (40:02):
She's like whatever, like, if it's a good company, I'll
invest later.
Speaker 2 (40:06):
No worries.
Speaker 3 (40:06):
He is so smart, so he invests for a living.
So he has like all this time, I would assume,
I mean his career. As his career, he like spends
time researching individual companies. But like the rest of us,
we have to do we have to do the same thing.
Speaker 2 (40:18):
Well, like you.
Speaker 4 (40:19):
Could like copy him, yeah okay, yeah. So like even
though he spends his entire life, literally ninety four years
of it now, researching individual companies, he's literally the first
to say that most people don't need to do that.
Do you know what his advice is, Yeah, he says,
go buy an index fund. Index fund, like an ETF. Yeah,
go do what Beck's done.
Speaker 3 (40:37):
Do what I do. And he did say that as
he did do Like I called him up before and
he was like, oh have you do you know becksied
and I was like, oh, yeah, I've heard of her,
and he said, just invest like her, just copy her.
Speaker 4 (40:46):
But literally he believes in them so much that in
his will he's left instructions for how his wife should
invest her inheritance when he passes, and he literally said,
put ninety percent of the money that you get from
me when I'm dead into a low cost s and
P five hundred index fund, and the other ten percent
into government bonds, full stop.
Speaker 2 (41:05):
End of story.
Speaker 4 (41:06):
Wow, go do that WiFi, because like this is fun
for me and I get it, but like it is
actually just not worth spending all your time and money
and energy researching.
Speaker 2 (41:17):
It doesn't make sense.
Speaker 4 (41:18):
So this guy could literally hand pick any stock on
the planet and he goes, you know what, you probably
should just go buy a broad market ETF.
Speaker 2 (41:27):
Go get ye, get a little index fund. Beck like
track the market. Yeah yeah, yeah, But the man's not wrong.
Speaker 4 (41:33):
And one of the simplest ways to access something like
that is through an ETF.
Speaker 2 (41:37):
And we know all about these.
Speaker 4 (41:39):
We've done an entire investing series on what an ETF is,
what is an index fund?
Speaker 2 (41:44):
How do they work? Like some of them can be
like the top.
Speaker 4 (41:47):
Two hundred companies in Australia or the top two hundred
companies in the world, Like you can pick anything, but
they are well diversified and honestly, they are one of
the most beginner friendly ways to follow.
Speaker 2 (41:57):
Buffet's logic.
Speaker 4 (41:58):
Yes easy, and he said time and time again that
most people would actually be better off completely ignoring the headlines.
Speaker 2 (42:05):
Do not read the.
Speaker 4 (42:06):
News, do not look at the stock market app on
your phone, ignore the hype. Just consistently invest in low
cost index funds. Just go put your money there, and
don't talk about investing.
Speaker 2 (42:17):
Don't talk about it.
Speaker 4 (42:17):
Don't talk about it, because it removes all of the
pressure to pick quote the right stock or the right share,
and it replaces it with something that actually works, and
that is time in the market.
Speaker 2 (42:27):
Time time, time, that's literally it. Just wait.
Speaker 4 (42:30):
Just imagine the biggest investor in the world being like,
don't bother honestly, like, just go buy a index fund.
Speaker 2 (42:36):
Yeah, I mean I'm going to listen to that. Actually
I actually.
Speaker 4 (42:40):
Do and that's why I just have I've got like
my satellite investments, but majority of my investing.
Speaker 2 (42:47):
Wealth is just in ETFs. Yeah. Fair, so, I mean
I've personally taken away from a lot of this. But
let's boil it all down. What do you want everyone
to take away from the episode?
Speaker 4 (42:56):
Okay, so if we want to be a big dog
investor like Warren Buffett, we can take away a few things.
So start early, Let time do the heavy lifting. No
such thing as too small of a beginning. So compound
interest is going to be your best friend. And Buffett's
whole fortune is basically a love letter to long term
(43:16):
investing in compound interest. The next is, don't try to
time the market like he can't. You can't, we can't.
After trying to do this, he tried to do it
at eleven and he decided, ah, that's not really for me.
He never made the same mistake again. And the goal
is to stay in, not jump in and out of
the market. Yeah, there's some research out there Beck that
(43:37):
says if you miss the five best days I think
it's five best days in the market because you're trying
to time the market, you will have half the wealth
that you intended to by retiring. Okay, I have good days.
You can't time the market. The next is and I
love this. Just investing what you understand. If you don't
understand it, you're not buying it. If you can't explain
(43:58):
how a business just makes money, you should not be
investing in it. Simplicity is power. Then we're going to
ignore the hype, he said, not worth it. IPOs absolutely not,
whether it's crypto or like hot stocks that people are
talking about. Buffet's not interested, and baby, neither are you.
He's going to wait until the hype dies down he
can see the value. He doesn't listen to headlines. And
(44:19):
then I've got two more points. You don't have to
pick stocks at all. Just go buy an index fund.
Easying to him, his number one recommendation for most people
is a low cost index fund. Set it, forget it,
let time do the work. I think that's very sexy.
And the last thing is control your emotions. So investing
(44:41):
it's not about maths. It's kind of about like mindset
and being in the right mind frame. Like he's not
getting caught up in the headlines. He's not thinking about like,
oh my goodness, what's that company going to do. Like
if he's invested for the long term, he's in the
best investors are the ones that are able to stay
calm when everyone else is panicking.
Speaker 2 (44:59):
Okay, so I think breath work is the Oh yeah,
I reckon. He does a lot of meditation. He's constantly
in the moment. Yeah, exactly, get from him exactly, never
thinking you know, No, he's just a vibe. Yeah, I
love him. I love him. I'm really checking menia. I
see what you mean.
Speaker 3 (45:14):
Now, I'd like to go to AGM whatever you said
before the.
Speaker 4 (45:17):
Berkshire Hathaway ag if you could take me, Yeah, honestly,
I'd do a whole log on it for you.
Speaker 2 (45:21):
Thank you. So guys, that is all from us today.
Speaker 4 (45:24):
But if you're ready to start your own investing snowball rolling,
my investing masterclass is made to give you the confidence
to start investing.
Speaker 2 (45:32):
It's beginner friendly, totally jug and free. I'm going to
put all.
Speaker 4 (45:35):
Of the details in the show notes because we have
an intake opening literally right now. And of course don't
forget to like and subscribe. We've got so much more
investing content coming away. That's it for today. We're going
to see you on Friday Guys Bye Bye guys.
Speaker 5 (45:54):
Did by shared on Cheese on the Money is general
in nature and does not consider your individual circumstances. She's
on the Money exists purely for educational purposes and should
not be relied upon to make an investment or financial decision.
If you do choose to buy a financial product, read
the PDS TMD and obtain appropriate financial.
Speaker 2 (46:13):
Advice tailored towards your needs.
Speaker 5 (46:15):
Victoria Divine and She's on the Money are authorized representatives
of money. Sheper Pty Ltd a BN three two one
six four nine two seven seven zero eight AFSL four
five one two eight nine
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