October 4, 2025 • 39 mins
Chris Markowski discusses the realities of financial planning and investment strategies, emphasizing the importance of self-awareness and understanding one's financial situation. He critiques conventional financial planning methods and advocates for a more resilient approach to investing, focusing on timeless wisdom and the concept of anti-fragility. The discussion also touches on the emotional aspects of investing and the need for a structured process rather than rigid planning.
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Speaker 1 (00:07):
Well know one authored investment banker, consumer advocate, handalyst trader
Chris Markowski. He is the watchdog Wall Street. Do you
want to answer exposing the lines and myths that the
big brokerage firms, the mainstream press, and the government are
pushing to keep Americans away from financial freedom. You can't
(00:28):
handle the true truth bringing America the truth about what
really happens in the financial world.
Speaker 2 (00:35):
Ladies and gentlemen. We're not here to indulge in fantasy,
but in political and economic reality.
Speaker 1 (00:40):
This is the watchdog on Wall Streets.
Speaker 2 (00:44):
You were, uh you We had signs like in life
where all of a sudden you get You're like.
Speaker 3 (00:51):
Wow, I just might be on the right track.
Speaker 2 (00:55):
Anyway, it happened to me this person. We kind of
a couple of occasions. So you know, I did a
did a podcast this past week in case you're not
aware out there, Yeah, I only have three hours every
single week on the radio, and it's just not enough time.
Speaker 3 (01:13):
So every single day, every single day, I do.
Speaker 2 (01:16):
Podcasts, and their short form they're not Joe Rogan three
hours long interviewing people. Nothing wrong with that, singular topics
five ten, fifteen minutes, sometimes a little bit longer, sometimes
a little bit less on various different things. And again
I highly recommend, and you're doing me a solid if
you go out there and you subscribe to our podcast
(01:36):
because it continues to help with the algorithms and get
the word out. It allows me, allows me the ability
to go over many things. And it's three hours once
a week, quite frankly, is just not enough.
Speaker 3 (01:49):
So I get a lot.
Speaker 2 (01:50):
Of questions when it comes to financial preparation, but we
like to call it. I don't like the phrase financial planning.
And I did a podcast talking about knowing thyself and
your money and you know, sure enough, sure enough.
Speaker 3 (02:06):
I get up very early in the morning.
Speaker 2 (02:09):
It's my kind of my prayer and meditation time between
three and five am, well three and four forty five.
I do a radio show every day at four forty five,
and then I go to the gym. And the gentleman
that I listened to every single day, he's on the
hallow at Jeff Caven's genius when it comes to the Bible.
(02:31):
He did a whole thing on Greece and how he
went to Delphi, and at the temple of a Delphi
they have written seeing Greek, know thyself which comes from Socrates,
and it's important and one of the things that I
try to get across two people.
Speaker 3 (02:53):
And listen.
Speaker 2 (02:54):
I really do appreciate the kudos from our clients and
the listeners here on the program, on the on the
calls that we made how we go about handling money
and doing things at Markowski Investments. But I'm gonna be
honest with you. You get to humble ourselves. The things
(03:15):
that we do, we didn't invent them, you know, quite frankly,
Let to be honest. Wisdom is timeless. Wisdom is timeless,
and we are just following just the simple rules of
the universe. It's just that simple. We were not we
have a look for shortcuts at Markowski Investments. We're not
(03:36):
looking for some sort of AI algorithm that's going to
all of a sudden figure out the markets and get
your rich quick. The reality of the situation is to
know thyself. I mean, it's something we always have to do.
It's very very difficult.
Speaker 1 (03:53):
It is.
Speaker 2 (03:56):
The Bible actually talks about for particular problems that affect
each and every one of us. This is why I
got to constantly, constantly be on top of things all
the time. Our wisdom is flawed, our motivations are oftentimes impure,
our emotions can overpower us, and our vision is limited. Now,
(04:23):
these are all things that I completely understand. When we
talk about here on the program, we're to get it
into probably a little bit greater detail today about focusing
on the fundamentals. It's important. It's important constantly, constantly humble
(04:46):
oneself when it comes to money in the world around us. Okay,
not putting ourselves out that we're that much smarter than
everybody else. We're going to figure something out. You can't
do that. You have to know who you are. You
have to know what your situation is. You can't lie
(05:09):
to yourself. And again, if you're able to do that,
you're able to do that, you're gonna be able to
see through a lot because get rich quick con artists,
people that look to take advantage, they look for weakness.
I think I talked about it last week on the program,
(05:30):
where you know they're gonna look to find your greed
buttons and push you in a certain direction. Well anyway,
you know, again, this this happens on a regular basis.
Surveys come out, Surveys come out showing that overwhelming majority
of American adults are concerned about their finances, concerned about
(05:52):
not having enough money for that.
Speaker 3 (05:55):
Uh that that I.
Speaker 2 (05:56):
Guess it's the you know, the one thing that everybody's
looking forward in life is retire And again, I quite
frankly I don't understand that. And we've talked about that
before here on the program. What Americans have saved, the
average amount is not enough. The solution to this, okay, again,
(06:17):
we can points you in the right direction. We can
solve these problems. But the reality is.
Speaker 3 (06:25):
It's not easy. It's simple, it's simple.
Speaker 2 (06:31):
The advice that we give here on the program, it's
quite simple. But the reality is it's not easy.
Speaker 3 (06:39):
Quite like losing.
Speaker 2 (06:39):
Weight, right, like dieting, simple but not easy. You're behind
the eight ball. You're concerned here, people, I don't have
anything for you. As far as magic tricks are concerned,
I don't. There's no magical, quick and easy catch up program.
Speaker 3 (07:01):
There's no such thing.
Speaker 4 (07:02):
I guarantee you return ten twelve percent a year.
Speaker 2 (07:05):
There's no special hot stock that will catch you up.
Speaker 3 (07:12):
Our motto here on the program. What we try to.
Speaker 2 (07:15):
Get across everything in life that has meaning, value and
worth involves work, time and effort, and you gotta look
at everything again, take a good hard look at the mirror.
You're one of those individuals that are behind the eight ball.
(07:37):
And while I gotta retire at sixty two, I gotta
retire at sixty five. Okay, you might want to reevaluate that,
you might want to rethink that.
Speaker 3 (07:50):
And I make fun of it all the time, you know.
Speaker 2 (07:53):
And they go come up to kids who are getting
their first job, and they give them a little questionneer
for their four oh one K plan?
Speaker 3 (08:00):
You planning on retiring?
Speaker 1 (08:02):
You know?
Speaker 2 (08:02):
Then you got a target date fund for this, and
we got some algorithm and how this is gonna work?
What you're asking a you're asking a kid. You're asking
to a kid when they're gonna want to retire. Why
would you, first and foremost, why would anyone limit themselves
to some outdate for crying out loud in your twenties.
Speaker 3 (08:24):
You don't even know what you're gonna be doing. You
know what you're gonna be doing next year.
Speaker 2 (08:27):
You got all these technological advances, all these things that
are happening.
Speaker 3 (08:31):
In our world.
Speaker 2 (08:32):
You have no idea retire what medical advances people living here?
Speaker 3 (08:38):
All of a sudden people start living to one.
Speaker 2 (08:39):
Hundred and twenty years old when you're gonna want to retire,
you know, dice these as well too. Again, the flood
flood of accounts that come in from various different firms
into Markowski investments, in these cookie cutter financial plans that
(08:59):
are offered to the masses. And I'm gonna be quite
frank with everyone here again. They work for these firms
because it's easy for their brokers, their advisors to sell them.
It's very easy. It's all packaged, you know. You know,
(09:20):
like Robert F. Kennedy Junior is going around and try
and rightfully so, trying to get rid of all this
nonsensical food that we eat here in this country, all
this process crap. You got to think of these, uh,
these financial plans that are offered. I don't care if
it's by the too big to fail firms, I don't
care it's by the McDonald's, the Edward Jones of the
(09:42):
world out there, doesn't make any difference.
Speaker 3 (09:44):
It's they're like.
Speaker 4 (09:45):
Processed food, empty calories. They're not good for you.
Speaker 2 (09:53):
Humanity and life are never a part of their algorithms.
They're never a part of the equation. You know, it's
it drives me nuts again. I'm gonna I'm gonna site
site again because the genius NASA Nicholas Teal, one of
(10:15):
my favorite authors and philosophers, talks about Yeah. The kai
best selling book back in two thousand and seven, The
Black Swan you know short things that happen that you
don't see coming, talks about preparing it talks about this
in terms of preparing for one's future. We we get asked.
I get asked about this all the time, financial planning,
(10:36):
and I hate the term.
Speaker 3 (10:38):
I do.
Speaker 2 (10:40):
Preparation is always better prepping. Prepping, not planning. You want
to make God laugh, tell them your plans. Famous line
out there right, one should prepare.
Speaker 3 (10:56):
Now.
Speaker 2 (10:56):
I just came out of retirement from coaching.
Speaker 3 (11:00):
I'm back.
Speaker 2 (11:01):
I'm back coaching youth lacrosse again. Anyway, I still got
two playing in college. And tell you something that I
tell my players, the teams that I coach, because a
lot of times the kids want to know, okay, who
we're playing against and their kids for crying out loud,
and they go to lacrosse tournaments and they look at
(11:22):
the various different records and teams and oh my god,
what team is good, what team is bad? And I'm like, guys, Okay,
we prepare at practices. More than half of every single practice,
probably about seventy percent of my practices is just solely
working on fundamentals preparation. Why so we can go into
(11:43):
any situation, any game, no matter who we're facing, and
we have the opportunity to win, to win. I always
like to cite the it was two thousand and seven.
Thousand and seven, Warren Buffett had a annual report, famous
(12:04):
annial Reports Everybody looks at and one in two thousand
and seven.
Speaker 3 (12:08):
He crafted it like.
Speaker 2 (12:10):
A help wanted at wanted a young man or woman
with the potential to manage a very large portfolio. The
ideal candidate must be someone genetically programmed to recognize and
avoid serious risks, including those never before encountered. Other key
requirements independent thinking, emotional stability, key understanding of both human
(12:33):
and institutional behavior. I don't know what's going to happen tomorrow,
next week, next month. I always make fun of these
people that actually claim that they do. They're not truthful.
They're just guessing. Okay, that's all they're doing. They're just
(12:55):
guessing the portfolios that we design at Markowski Investments. You've
become a part of our family at Markowski Investments, our
personal CFO program.
Speaker 3 (13:09):
Our goal, our.
Speaker 2 (13:11):
Goal is to be able to withstand those talib black
swans market selloffs, as uncomfortable as they may be. Then
go back this past year, Liberation Day and tariffs and
(13:31):
what was going on with the markets, and no, no, no, no,
I wasn't happy without what was going on at all.
And I'm still not happy with how things are going.
We'll talk about that a little bit later on in
the program. But how did we handle What do we
tell you to do here on the program? Tell you
it freak out? No, no, we told you to take
(13:53):
advantage great recession two thousand and seven, two thousand and eight,
one of the greatest buying opportunities out there, The reason why,
reason why investors lose.
Speaker 3 (14:07):
Time and time again and again.
Speaker 2 (14:09):
This is not just This is not just individual investors
with their robin Hood accounts or their Schwab accounts. These
are the the wizard of smart hedge fund guys and
private equity guys that continue to go out of business
at an ever accelerating pace. Are the ridiculous shlockbrokers or
quote unquote financial advisors promising ridiculous outsized returns. The idiots
(14:34):
on television that claim to know everything about what's going
to happen next. They got their magical software and their
algorithms and their training programs and their newsletters are gonna make.
Speaker 3 (14:45):
You money no matter what the market is doing.
Speaker 2 (14:50):
They're arrogance is that they don't know what they don't know.
It's a cognitive bias. It's called the Dunning Krueger effect.
We often we have to talk about resilience, resilience when
(15:11):
it comes to managing one's assets, dealing with financial storms.
Our personal CFO program again, I've I've used it, and
quite frankly, this is where Talap taught me a lesson.
He invented a better word than resilient, and I don't
want resilient portfolios. And it was amazing is that. It's
(15:31):
another one of his books, it's called anti Fragile. He
is a it's a real bright guy. And he uh,
he went, he looked for a word and in every
single language out there, he'd look for a word which
would be the opposite of fragile. The opposite of fragile
is not resilient. It's not fragile. You know, you get
(15:55):
something that's fragile, you shake it up, it breaks. Okay,
if you got something that's resilient, you could shake it up.
It doesn't break, but it doesn't get better.
Speaker 3 (16:08):
He read.
Speaker 2 (16:08):
Some things benefit from shocks. They thrive and grow when
exposed to volatility, randomness, disorder and stressors, and love, adventure,
risk and uncertainty. Yet in spite of the ubiquity of
the phenomenon, there is no word for the exact opposite
of fragile. Let's call it anti fragile. It's above, it's
(16:31):
beyond resilience or robustment, robrustueness. The resilient resist shocks and
stays the same. The anti fragile gets better. This property
is behind everything that has changed with time, evolution, culture ideas, revolutions,
political systems, technological innovation, cultural and economic success, corporate survival,
(16:52):
good recipes, the rise of cities and cultures. This is
what we build, This is what we strive for. This
is what we do. I want to take a quick
break right here. I want to talk. We'll get back
about how we go about doing that. First and foremost, Okay, again,
(17:13):
I invite each and every one of you to become
a part of our family at Markowski Investments. Get to
our website Watchdog on Wallstreet dot com.
Speaker 3 (17:22):
Watchdog on Wallstreet dot com is our site. Here's a favorite.
Speaker 2 (17:25):
Sign up for our personal CFO program, sign up for
my newsletter, can sign up for our podcast.
Speaker 3 (17:31):
Do your homework on us.
Speaker 2 (17:32):
Take a look at what we've been doing at Markowski
Investments for the past thirty years. Again, Watchdog on Wallstreet
dot com is our site.
Speaker 3 (17:42):
Or give us a call eight hundred four seven one
fifty nine eighty four. Right Sam.
Speaker 1 (18:04):
Ticking Wall Streets liars, crooks and cheets out behind the woodshed.
You're listening to the Watchdog on Wall Streets.
Speaker 2 (18:15):
Actually, I actually remember going out and buying this song
Little forty five record after seeing Rocky three back in
the day.
Speaker 3 (18:23):
Anyway, welcome back.
Speaker 2 (18:25):
It is the watch Dog on a Wall Street show again.
What do we talk about? Okay, no, thyself, No, your
wisdom is flawed. Your motivations at times, as much as
you'd like to keep them pure, oftentimes can become impure.
Your emotions can overpower you, and your vision is limited.
(18:50):
So so what are some things that you need to do?
Obviously because of that you need to have a process.
We have a process process that is mechanical, it's objective.
We have a mechanical, objective criteria for the things that
we do, the decisions that we make. We have portfolios
(19:11):
that are broadly diversified. We often talk about this here
on the program, and there's some other advisors that obviously
follow this as well. There's some good ones out there,
a long term get rich slow perspective.
Speaker 3 (19:29):
Get rich slow, not get rich quick.
Speaker 2 (19:33):
And of course this is important to Okay, once you
understand this, this is really important that you look at
what you're building in life. You humble yourself and you
look at what you're building in life and understand that
you're not taking it with you. Okay, you have to
be a good steward of what you have. So almost
like you are managing something, you are managing your wealth
(19:57):
for the future. Our process, and again I did a
piece many many moons US over twenty something years ago
about our process and it was just simple.
Speaker 3 (20:08):
For rules. Compounding is the royal road to riches.
Speaker 2 (20:13):
Don't lose money, invest like a multimillionaire, buy assets on sale.
We talk a little bit about that when we get
back Watchdog on Wallstreet dot com. Watchdog on Wallstreet dot
com is our site. Become a part of the Watchdog
on Wall Street family. Sign up for our personal CFO program.
Speaker 1 (20:32):
We'll be back. You're listening to the Watchdog on Wall
Street off the only man who is taking on the
(21:04):
Wall Street establishment. You're listening to the Watchdog on Wall
Street with Chris Markowski.
Speaker 3 (21:13):
You think my rules are are are simple?
Speaker 2 (21:17):
That was that the Warren Buffett There rule number one,
don't lose money, rule number two. Check and see rule
number one.
Speaker 3 (21:28):
Let's go through these again.
Speaker 2 (21:30):
Okay, compounding and I'm going to talk about compounding in
a in an actually in a negative way a little
bit later on in the program. This unfortunately, unfortunately is
not taught in schools and should be taught at a
very young age. The power of compounding, How it works,
(21:52):
The formula, I couldn't tell you. I couldn't tell you.
My brother Matthew can explain it to you. It's it's
a pretty complicated formula. But what it means, what compounding
can do for you over time, I mean, for bloddy
Albert Einstein thought it was man's greatest invention. Ben Franklin,
(22:14):
it works for you if you use it the right way. Well,
Number two, don't lose money. You cannot. You cannot take
massive losses in your portfolio. Line by NASA Nicholas Talib
never let risk lead to ruin. Invest like a multi millionaire.
(22:43):
That means is, okay, you do not Wealthy people that
they have money already, right, They're not going to do
stupid things, okay, in order to get because they're already there.
Do not take shortcuts. Wealthy people don't do that. Buy
(23:06):
assets on sale. And this is very very important. We
all talk about Benjamin Graham, Benjamin Graham, the Intelligent Investors,
Warren Buffett's teacher, and how he explained assets have a value,
assets have a value. I'm pretty good One of the
things I'm pretty done good at. I can take a
(23:27):
look at a business that can take a look at
its numbers. I don't care if it's a larndromat, a
restaurant or it's you know, a publicly traded company, and
I can take a look, and I can look at
the internals and say what the thing you know is
properly valued at? And I can also say, you know
when it's undervalued and when it's overvalued. You want to buy.
(23:48):
When it's below you're never going to get it right.
No one gets in at the exact bottom and no
one gets out at the exact top. But when you
have market selloffs, and this is the importance of dollar
cost averaging, you're buying, you're not selling, You're not letting. Again,
you're not letting your emotions get the best of you.
(24:09):
But again, we're big fans of simplicity. I'm a big
fan of simplicity. Laws, rules, regulations need to be straightforward,
black and white, really that simple. Okay. A couple other things,
A couple of the things. Again, you need to understand
(24:30):
if you want to be successful, you want to be successful,
it is very important for you to understand that it
is not with a capital N. It is not important
to be right in the here and now, but to
be right eventually. In other words, what conventional wisdom, Because
(24:57):
what conventional wisdom says is the greatest idea greatest investment
today not always, but more often than not, happens to
be a lousy investment or idea. Markets okay, are not
in my opinion, they're not efficient over the short term
(25:18):
if you're actually looking at the fundamentals. Some of the
major calls that were famous for over the past thirty years,
whether it be calling the demise of Enron, the dot
com collapse, to collapse of the telecom companies back in
the nineteen nineties, Asian financial crisis, great recession, whatever it
(25:43):
may be. Okay, whatever the calls that we made, well,
guess what, they were contrarian at the time. They were
contrad they were that wasn't what everybody was doing at
the time, but they were proven true over time, Meaning
what what does this mean for an investor? You have
(26:07):
to have patience if you want to be successful. And
along with that as well, okay, is you have to
have courage. Sometimes things are gonna look like they're not
going your way. You're gonna have to stand in the
face of the chattering classes and the pundits. Man, oh man,
the slings and arrows that we took back in the
(26:31):
nineteen nineties. Oh my lord, I'm doing guest appearances and
I'm talking about how this these dot coms are going
to collapse.
Speaker 3 (26:38):
And again I was the moron. I didn't get it.
Enron collapse, the world's most.
Speaker 2 (26:43):
Innovative company, you know, five years in a row, forts
and magazine said it was Yeah, Well, I don't get
it doesn't make any sense to me. Again, you think
it look that two thousand and eight, two thousand and
nine equity market goes off the rail. How many of
you out there, be honest? How many of you out
(27:04):
there acted out of fear? How many of you out
there made very poor choices? In order to be courageous,
you have to well, it involves the thorough consideration of
all the facts. You need to keep emotion out of
the decision making process. Human beings Okay, like I said before, okay,
(27:28):
and this is biblical wisdom for crying out loud, thousands
and thousands of years old. Humans are not hardwired. We're
all broken. We're not hard but most certainly not hardwired
to be good investors, to buy high and sell low. Mentality,
those emotions that get the best of many people. They
(27:50):
take people over much too easily. Gonna take a quick
break right here again, I invite each and every want
of you to become a part of our family. And
I say, each and every one of you, Yes, Markowski Investments.
Speaker 3 (28:05):
We are a family office. Yes.
Speaker 2 (28:07):
Do we provide accounting? Do we provide legal for our clients? Absolutely.
You know what we do not do. We do not
shut the door on anyone. We are here to help
all investors. I don't care five million, one million, one
hundred thousand and fifty. We do not shut the door
(28:28):
on anyone. Sign up for our personal CFO program. Watchdog
on Wallstreet dot com is a place. You need to
get to Watchdog on Wallstreet dot com or give us
a call eight hundred four seven nine eighty four.
Speaker 3 (28:46):
Run through the.
Speaker 1 (29:00):
Only man who is taking on the Wall Street establishment.
You're listening to The Watchdog and Wall Street with Chris Markowski.
Speaker 3 (29:11):
Yeah, I'm dating myself.
Speaker 2 (29:13):
I've seen a lot in my thirty years in this industry,
without doubt. And you know, even even we got started,
we got started, you know, people kind of looked looked
at me, and then you know, my brothers. It's a
family business as kind of like maybe your old funny duddies,
(29:34):
even though we weren't old at that point in time,
looking at oh, this is new, new and improved trading.
And I go back to the nineteen nineties, think about
all those discount houses that were starting up. There was
a Merror Trade and E Trade and DLJ Direct, and
they had all these these commercials on TV basically proclaiming,
(29:59):
oh yeah, you're gonna open up an account with us,
You're gonna take care of the mark, You're gonna shake
it up all down. And then they kept adding all
sorts of gimmicks and tools and trading this and trading that,
and I'm saying that this is not going to turn
out well, and it hasn't. I I think that investing
its stocks, it's not a video game. To me, it's
(30:23):
not a video game. They're not electronic blips on a screen.
And I get it.
Speaker 3 (30:29):
I get it. Today's day and age.
Speaker 2 (30:30):
You know, you can see these quick movements and whatnot
due to high frequency traders and uh, you know, algorithms
and what have you. Stocks are an underlying ownership in companies.
The price of the stock and the overall value of
the company can be evaluated. That's what we do for
(30:54):
a myriad of different things. Money, the company makes, what industry,
what the expectations are for the future. Managing risk, you
need to understand that you risk is fine, it's justifiable
as long as it, like I said before, it doesn't.
Speaker 3 (31:13):
Lead to ruin. Again.
Speaker 2 (31:17):
I'm gonna mention this again. I really can't stand stand
the term financial plan.
Speaker 3 (31:26):
I don't like it. How does one plan for decades
of uncertainty?
Speaker 2 (31:30):
How does one really know when they want to retire,
change careers, start a new business, find their spouse.
Speaker 3 (31:37):
We're gonna I'm gonna talk.
Speaker 2 (31:38):
More about when we get back Watchdog on Wallstreet dot
com have to take another quick break again.
Speaker 3 (31:43):
Watchdog on Wallstreet dot com. Our site will be.
Speaker 1 (31:46):
Back, bringing America financial freedom, one listener at a time.
(32:08):
You're listening to the Watchdog on Wall Street with Chris Markowski.
Speaker 3 (32:13):
It's not it's not planning. It's not.
Speaker 2 (32:17):
That's not what we do when I'm financial planners. Okay,
we prepare you. It is a process here at Markowski Investments. Actually,
I go back and think about when I graduated from
college and when I got started in this business.
Speaker 3 (32:34):
What I thought. I tell this to my kids all
the time.
Speaker 2 (32:37):
I said, do you have any idea how dumb I
was when I was twenty one, How dumb I was
at thirty one, How dumb I was at forty one,
How dumb I was at fifty one? The amount you
learn about life and what you can pick up on
and we all we all limit our to some degree,
(33:01):
you get some idea in your head, or it might
be whatever you know they're trying to push on you.
When it comes to oh, I got to retire at
this age, set yourself up for this retire I don't
in a world am I going to be able to retire.
I'm got to stop helping people. We're going to stop
(33:22):
growing our business. I could could sell Markowski Investments today
at an absolutely ridiculous multiple, because that's what they're paying
at this point in time.
Speaker 3 (33:34):
But again, I didn't have that ethical bypass at birth.
Speaker 2 (33:36):
I know what's going to happen after the fact that
the private equity company takes over Markowski Investments. So no, no, no,
I'm not going to ever retire, and that's a good
thing as far as I'm concerned. But everyone's situation is
unique and different. We like to think of what we
do as a process that's going to help you and
(33:59):
your family to be able to adapt, to adapt to
the unknowable only God knows the unknowable terrain of life.
Been doing this radio show right here for twenty five years,
(34:21):
been doing my newsletter for almost thirty years, and the
entire time I've gone out of my way, gone out
of my way to try to basically get everybody to
wisen up to the realities of the poison that is
(34:41):
conventional wisdom. And it's not just economics, it's not just finance.
Speaker 3 (34:50):
It's everywhere.
Speaker 2 (34:53):
Recognizing being able to recognize the narratives, the self destructive
strategies that are.
Speaker 3 (34:59):
Constantly being pushed upon you.
Speaker 2 (35:03):
We like to call it from back in the day,
the Watchdog on Wall Street acxis of evil big business,
politicians and the media. Again, you continue to listen to
this program, you listen to our podcast, you are you're
gonna get it. Okay, You're gonna become your own little watchdog.
You're gonna be able to recognize, You're going to recognize
(35:26):
exposed narratives, hidden agendas. It's kind of like the matrix.
You start seeing things for the way that they are. Again,
I always like to use this phrase, and that's from
the television show Friday Night Lights, and it's about a
football coach in a small town in Texas. Coach name was
(35:46):
Eric Taylor, and he said something to his players all
the time that stuck with me, and it's truth and
it's simplicity. Clear eyes, full hearts can't lose. You think
about that for a second. Was he trying to get
(36:07):
across to his players see the world, the terrain, the
obstacles for what they are, not what.
Speaker 4 (36:18):
You wish they are or what somebody on TV or somebody.
Speaker 3 (36:24):
In social media is telling you what they are.
Speaker 2 (36:29):
And this is big two. You're gonna have to be
uncomfortable in life. Yeah, at times you're gonna have to
be uncomfortable. Again, we live very very comfortable lives. You're
gonna have to accept the challenges in front of you.
Embrace the challenges. I've written about this. I call it
(36:53):
embrace the suck. Embrace the suck.
Speaker 1 (36:56):
You know.
Speaker 2 (36:56):
I got that from I had that from a football coach,
football coach in high school.
Speaker 3 (37:02):
We're outside and we're.
Speaker 2 (37:03):
August heat, double sessions, you know again back when they
had double sessions and all that stuff, and he's telling
you got to go out there and you got to
embrace the suck.
Speaker 3 (37:15):
You do that wholeheartedly.
Speaker 2 (37:17):
And guess what, like coach Taylor says, you can't lose,
you can't lose. And the thing is is that, like
I said, I didn't come up with all this is
biblical wisdom for crying out loud.
Speaker 3 (37:32):
This is applicable.
Speaker 2 (37:34):
The process that we talk about here's not the Markowski investment.
I can't lay claim to this, but what I can
tell you it's applicable to just about everything in.
Speaker 3 (37:47):
Life, is it not? Is it not applicable to everything? Again,
I talk about this, you know, from time to time
here on the program.
Speaker 2 (38:03):
Hey, there's there's weeks here when we get back into
the nuts and bolts of Markowski Investments and what we
do for people. There's a lot of angst out there here,
and I get it. We're gonna talk about some stories
that I read and I was obviously a little upset
hearing about the student loan situation with my generation Generation X.
(38:27):
For crying out loud, we talk about the situation when
it comes to housing here in this country. Last week
mentioned the phrase again, I don't like hearing it financial nihilism.
Young people are just throwing their hands up in the
air and say.
Speaker 3 (38:41):
Ah, that's right.
Speaker 2 (38:43):
I was gonna gamble on everything. What difference is to
make I'm never gonna be able to make it. I'm
never gonna be able to get ahead. You can't have
that attitude, man, you can't. That's im I'm I'm not
gonna lie about the terrain. We don't lie about the
terrain here on the program, we confront the terrain. What
I'm encouraging to do. Do the right thing. Okay, focus
(39:07):
on the fundamentals, have a process, know thy self. Gotta
take a break. Watchdog on Wallstreet dot com. Watchdog on
wallstreet dot com is our site from part of the
Watchdog on Wall Street Family, our personal CFO program.
Speaker 3 (39:24):
We'll be back.
Speaker 1 (39:31):
You're listening to the Watchdog on Wall Street
Well know one authored investment banker, consumer advocate, handalyst trader
Chris Markowski. He is the watchdog Wall Street. Do you
want to answer exposing the lines and myths that the
big brokerage firms, the mainstream press, and the government are
pushing to keep Americans away from financial freedom. You can't
(00:28):
handle the true truth bringing America the truth about what
really happens in the financial world.
Speaker 2 (00:35):
Ladies and gentlemen. We're not here to indulge in fantasy,
but in political and economic reality.
Speaker 1 (00:40):
This is the watchdog on Wall Streets.
Speaker 2 (00:44):
You were, uh you We had signs like in life
where all of a sudden you get You're like.
Speaker 3 (00:51):
Wow, I just might be on the right track.
Speaker 2 (00:55):
Anyway, it happened to me this person. We kind of
a couple of occasions. So you know, I did a
did a podcast this past week in case you're not
aware out there, Yeah, I only have three hours every
single week on the radio, and it's just not enough time.
Speaker 3 (01:13):
So every single day, every single day, I do.
Speaker 2 (01:16):
Podcasts, and their short form they're not Joe Rogan three
hours long interviewing people. Nothing wrong with that, singular topics
five ten, fifteen minutes, sometimes a little bit longer, sometimes
a little bit less on various different things. And again
I highly recommend, and you're doing me a solid if
you go out there and you subscribe to our podcast
(01:36):
because it continues to help with the algorithms and get
the word out. It allows me, allows me the ability
to go over many things. And it's three hours once
a week, quite frankly, is just not enough.
Speaker 3 (01:49):
So I get a lot.
Speaker 2 (01:50):
Of questions when it comes to financial preparation, but we
like to call it. I don't like the phrase financial planning.
And I did a podcast talking about knowing thyself and
your money and you know, sure enough, sure enough.
Speaker 3 (02:06):
I get up very early in the morning.
Speaker 2 (02:09):
It's my kind of my prayer and meditation time between
three and five am, well three and four forty five.
I do a radio show every day at four forty five,
and then I go to the gym. And the gentleman
that I listened to every single day, he's on the
hallow at Jeff Caven's genius when it comes to the Bible.
(02:31):
He did a whole thing on Greece and how he
went to Delphi, and at the temple of a Delphi
they have written seeing Greek, know thyself which comes from Socrates,
and it's important and one of the things that I
try to get across two people.
Speaker 3 (02:53):
And listen.
Speaker 2 (02:54):
I really do appreciate the kudos from our clients and
the listeners here on the program, on the on the
calls that we made how we go about handling money
and doing things at Markowski Investments. But I'm gonna be
honest with you. You get to humble ourselves. The things
(03:15):
that we do, we didn't invent them, you know, quite frankly,
Let to be honest. Wisdom is timeless. Wisdom is timeless,
and we are just following just the simple rules of
the universe. It's just that simple. We were not we
have a look for shortcuts at Markowski Investments. We're not
(03:36):
looking for some sort of AI algorithm that's going to
all of a sudden figure out the markets and get
your rich quick. The reality of the situation is to
know thyself. I mean, it's something we always have to do.
It's very very difficult.
Speaker 1 (03:53):
It is.
Speaker 2 (03:56):
The Bible actually talks about for particular problems that affect
each and every one of us. This is why I
got to constantly, constantly be on top of things all
the time. Our wisdom is flawed, our motivations are oftentimes impure,
our emotions can overpower us, and our vision is limited. Now,
(04:23):
these are all things that I completely understand. When we
talk about here on the program, we're to get it
into probably a little bit greater detail today about focusing
on the fundamentals. It's important. It's important constantly, constantly humble
(04:46):
oneself when it comes to money in the world around us. Okay,
not putting ourselves out that we're that much smarter than
everybody else. We're going to figure something out. You can't
do that. You have to know who you are. You
have to know what your situation is. You can't lie
(05:09):
to yourself. And again, if you're able to do that,
you're able to do that, you're gonna be able to
see through a lot because get rich quick con artists,
people that look to take advantage, they look for weakness.
I think I talked about it last week on the program,
(05:30):
where you know they're gonna look to find your greed
buttons and push you in a certain direction. Well anyway,
you know, again, this this happens on a regular basis.
Surveys come out, Surveys come out showing that overwhelming majority
of American adults are concerned about their finances, concerned about
(05:52):
not having enough money for that.
Speaker 3 (05:55):
Uh that that I.
Speaker 2 (05:56):
Guess it's the you know, the one thing that everybody's
looking forward in life is retire And again, I quite
frankly I don't understand that. And we've talked about that
before here on the program. What Americans have saved, the
average amount is not enough. The solution to this, okay, again,
(06:17):
we can points you in the right direction. We can
solve these problems. But the reality is.
Speaker 3 (06:25):
It's not easy. It's simple, it's simple.
Speaker 2 (06:31):
The advice that we give here on the program, it's
quite simple. But the reality is it's not easy.
Speaker 3 (06:39):
Quite like losing.
Speaker 2 (06:39):
Weight, right, like dieting, simple but not easy. You're behind
the eight ball. You're concerned here, people, I don't have
anything for you. As far as magic tricks are concerned,
I don't. There's no magical, quick and easy catch up program.
Speaker 3 (07:01):
There's no such thing.
Speaker 4 (07:02):
I guarantee you return ten twelve percent a year.
Speaker 2 (07:05):
There's no special hot stock that will catch you up.
Speaker 3 (07:12):
Our motto here on the program. What we try to.
Speaker 2 (07:15):
Get across everything in life that has meaning, value and
worth involves work, time and effort, and you gotta look
at everything again, take a good hard look at the mirror.
You're one of those individuals that are behind the eight ball.
(07:37):
And while I gotta retire at sixty two, I gotta
retire at sixty five. Okay, you might want to reevaluate that,
you might want to rethink that.
Speaker 3 (07:50):
And I make fun of it all the time, you know.
Speaker 2 (07:53):
And they go come up to kids who are getting
their first job, and they give them a little questionneer
for their four oh one K plan?
Speaker 3 (08:00):
You planning on retiring?
Speaker 1 (08:02):
You know?
Speaker 2 (08:02):
Then you got a target date fund for this, and
we got some algorithm and how this is gonna work?
What you're asking a you're asking a kid. You're asking
to a kid when they're gonna want to retire. Why
would you, first and foremost, why would anyone limit themselves
to some outdate for crying out loud in your twenties.
Speaker 3 (08:24):
You don't even know what you're gonna be doing. You
know what you're gonna be doing next year.
Speaker 2 (08:27):
You got all these technological advances, all these things that
are happening.
Speaker 3 (08:31):
In our world.
Speaker 2 (08:32):
You have no idea retire what medical advances people living here?
Speaker 3 (08:38):
All of a sudden people start living to one.
Speaker 2 (08:39):
Hundred and twenty years old when you're gonna want to retire,
you know, dice these as well too. Again, the flood
flood of accounts that come in from various different firms
into Markowski investments, in these cookie cutter financial plans that
(08:59):
are offered to the masses. And I'm gonna be quite
frank with everyone here again. They work for these firms
because it's easy for their brokers, their advisors to sell them.
It's very easy. It's all packaged, you know. You know,
(09:20):
like Robert F. Kennedy Junior is going around and try
and rightfully so, trying to get rid of all this
nonsensical food that we eat here in this country, all
this process crap. You got to think of these, uh,
these financial plans that are offered. I don't care if
it's by the too big to fail firms, I don't
care it's by the McDonald's, the Edward Jones of the
(09:42):
world out there, doesn't make any difference.
Speaker 3 (09:44):
It's they're like.
Speaker 4 (09:45):
Processed food, empty calories. They're not good for you.
Speaker 2 (09:53):
Humanity and life are never a part of their algorithms.
They're never a part of the equation. You know, it's
it drives me nuts again. I'm gonna I'm gonna site
site again because the genius NASA Nicholas Teal, one of
(10:15):
my favorite authors and philosophers, talks about Yeah. The kai
best selling book back in two thousand and seven, The
Black Swan you know short things that happen that you
don't see coming, talks about preparing it talks about this
in terms of preparing for one's future. We we get asked.
I get asked about this all the time, financial planning,
(10:36):
and I hate the term.
Speaker 3 (10:38):
I do.
Speaker 2 (10:40):
Preparation is always better prepping. Prepping, not planning. You want
to make God laugh, tell them your plans. Famous line
out there right, one should prepare.
Speaker 3 (10:56):
Now.
Speaker 2 (10:56):
I just came out of retirement from coaching.
Speaker 3 (11:00):
I'm back.
Speaker 2 (11:01):
I'm back coaching youth lacrosse again. Anyway, I still got
two playing in college. And tell you something that I
tell my players, the teams that I coach, because a
lot of times the kids want to know, okay, who
we're playing against and their kids for crying out loud,
and they go to lacrosse tournaments and they look at
(11:22):
the various different records and teams and oh my god,
what team is good, what team is bad? And I'm like, guys, Okay,
we prepare at practices. More than half of every single practice,
probably about seventy percent of my practices is just solely
working on fundamentals preparation. Why so we can go into
(11:43):
any situation, any game, no matter who we're facing, and
we have the opportunity to win, to win. I always
like to cite the it was two thousand and seven.
Thousand and seven, Warren Buffett had a annual report, famous
(12:04):
annial Reports Everybody looks at and one in two thousand
and seven.
Speaker 3 (12:08):
He crafted it like.
Speaker 2 (12:10):
A help wanted at wanted a young man or woman
with the potential to manage a very large portfolio. The
ideal candidate must be someone genetically programmed to recognize and
avoid serious risks, including those never before encountered. Other key
requirements independent thinking, emotional stability, key understanding of both human
(12:33):
and institutional behavior. I don't know what's going to happen tomorrow,
next week, next month. I always make fun of these
people that actually claim that they do. They're not truthful.
They're just guessing. Okay, that's all they're doing. They're just
(12:55):
guessing the portfolios that we design at Markowski Investments. You've
become a part of our family at Markowski Investments, our
personal CFO program.
Speaker 3 (13:09):
Our goal, our.
Speaker 2 (13:11):
Goal is to be able to withstand those talib black
swans market selloffs, as uncomfortable as they may be. Then
go back this past year, Liberation Day and tariffs and
(13:31):
what was going on with the markets, and no, no, no, no,
I wasn't happy without what was going on at all.
And I'm still not happy with how things are going.
We'll talk about that a little bit later on in
the program. But how did we handle What do we
tell you to do here on the program? Tell you
it freak out? No, no, we told you to take
(13:53):
advantage great recession two thousand and seven, two thousand and eight,
one of the greatest buying opportunities out there, The reason why,
reason why investors lose.
Speaker 3 (14:07):
Time and time again and again.
Speaker 2 (14:09):
This is not just This is not just individual investors
with their robin Hood accounts or their Schwab accounts. These
are the the wizard of smart hedge fund guys and
private equity guys that continue to go out of business
at an ever accelerating pace. Are the ridiculous shlockbrokers or
quote unquote financial advisors promising ridiculous outsized returns. The idiots
(14:34):
on television that claim to know everything about what's going
to happen next. They got their magical software and their
algorithms and their training programs and their newsletters are gonna make.
Speaker 3 (14:45):
You money no matter what the market is doing.
Speaker 2 (14:50):
They're arrogance is that they don't know what they don't know.
It's a cognitive bias. It's called the Dunning Krueger effect.
We often we have to talk about resilience, resilience when
(15:11):
it comes to managing one's assets, dealing with financial storms.
Our personal CFO program again, I've I've used it, and
quite frankly, this is where Talap taught me a lesson.
He invented a better word than resilient, and I don't
want resilient portfolios. And it was amazing is that. It's
(15:31):
another one of his books, it's called anti Fragile. He
is a it's a real bright guy. And he uh,
he went, he looked for a word and in every
single language out there, he'd look for a word which
would be the opposite of fragile. The opposite of fragile
is not resilient. It's not fragile. You know, you get
(15:55):
something that's fragile, you shake it up, it breaks. Okay,
if you got something that's resilient, you could shake it up.
It doesn't break, but it doesn't get better.
Speaker 3 (16:08):
He read.
Speaker 2 (16:08):
Some things benefit from shocks. They thrive and grow when
exposed to volatility, randomness, disorder and stressors, and love, adventure,
risk and uncertainty. Yet in spite of the ubiquity of
the phenomenon, there is no word for the exact opposite
of fragile. Let's call it anti fragile. It's above, it's
(16:31):
beyond resilience or robustment, robrustueness. The resilient resist shocks and
stays the same. The anti fragile gets better. This property
is behind everything that has changed with time, evolution, culture ideas, revolutions,
political systems, technological innovation, cultural and economic success, corporate survival,
(16:52):
good recipes, the rise of cities and cultures. This is
what we build, This is what we strive for. This
is what we do. I want to take a quick
break right here. I want to talk. We'll get back
about how we go about doing that. First and foremost, Okay, again,
(17:13):
I invite each and every one of you to become
a part of our family at Markowski Investments. Get to
our website Watchdog on Wallstreet dot com.
Speaker 3 (17:22):
Watchdog on Wallstreet dot com is our site. Here's a favorite.
Speaker 2 (17:25):
Sign up for our personal CFO program, sign up for
my newsletter, can sign up for our podcast.
Speaker 3 (17:31):
Do your homework on us.
Speaker 2 (17:32):
Take a look at what we've been doing at Markowski
Investments for the past thirty years. Again, Watchdog on Wallstreet
dot com is our site.
Speaker 3 (17:42):
Or give us a call eight hundred four seven one
fifty nine eighty four. Right Sam.
Speaker 1 (18:04):
Ticking Wall Streets liars, crooks and cheets out behind the woodshed.
You're listening to the Watchdog on Wall Streets.
Speaker 2 (18:15):
Actually, I actually remember going out and buying this song
Little forty five record after seeing Rocky three back in
the day.
Speaker 3 (18:23):
Anyway, welcome back.
Speaker 2 (18:25):
It is the watch Dog on a Wall Street show again.
What do we talk about? Okay, no, thyself, No, your
wisdom is flawed. Your motivations at times, as much as
you'd like to keep them pure, oftentimes can become impure.
Your emotions can overpower you, and your vision is limited.
(18:50):
So so what are some things that you need to do?
Obviously because of that you need to have a process.
We have a process process that is mechanical, it's objective.
We have a mechanical, objective criteria for the things that
we do, the decisions that we make. We have portfolios
(19:11):
that are broadly diversified. We often talk about this here
on the program, and there's some other advisors that obviously
follow this as well. There's some good ones out there,
a long term get rich slow perspective.
Speaker 3 (19:29):
Get rich slow, not get rich quick.
Speaker 2 (19:33):
And of course this is important to Okay, once you
understand this, this is really important that you look at
what you're building in life. You humble yourself and you
look at what you're building in life and understand that
you're not taking it with you. Okay, you have to
be a good steward of what you have. So almost
like you are managing something, you are managing your wealth
(19:57):
for the future. Our process, and again I did a
piece many many moons US over twenty something years ago
about our process and it was just simple.
Speaker 3 (20:08):
For rules. Compounding is the royal road to riches.
Speaker 2 (20:13):
Don't lose money, invest like a multimillionaire, buy assets on sale.
We talk a little bit about that when we get
back Watchdog on Wallstreet dot com. Watchdog on Wallstreet dot
com is our site. Become a part of the Watchdog
on Wall Street family. Sign up for our personal CFO program.
Speaker 1 (20:32):
We'll be back. You're listening to the Watchdog on Wall
Street off the only man who is taking on the
(21:04):
Wall Street establishment. You're listening to the Watchdog on Wall
Street with Chris Markowski.
Speaker 3 (21:13):
You think my rules are are are simple?
Speaker 2 (21:17):
That was that the Warren Buffett There rule number one,
don't lose money, rule number two. Check and see rule
number one.
Speaker 3 (21:28):
Let's go through these again.
Speaker 2 (21:30):
Okay, compounding and I'm going to talk about compounding in
a in an actually in a negative way a little
bit later on in the program. This unfortunately, unfortunately is
not taught in schools and should be taught at a
very young age. The power of compounding, How it works,
(21:52):
The formula, I couldn't tell you. I couldn't tell you.
My brother Matthew can explain it to you. It's it's
a pretty complicated formula. But what it means, what compounding
can do for you over time, I mean, for bloddy
Albert Einstein thought it was man's greatest invention. Ben Franklin,
(22:14):
it works for you if you use it the right way. Well,
Number two, don't lose money. You cannot. You cannot take
massive losses in your portfolio. Line by NASA Nicholas Talib
never let risk lead to ruin. Invest like a multi millionaire.
(22:43):
That means is, okay, you do not Wealthy people that
they have money already, right, They're not going to do
stupid things, okay, in order to get because they're already there.
Do not take shortcuts. Wealthy people don't do that. Buy
(23:06):
assets on sale. And this is very very important. We
all talk about Benjamin Graham, Benjamin Graham, the Intelligent Investors,
Warren Buffett's teacher, and how he explained assets have a value,
assets have a value. I'm pretty good One of the
things I'm pretty done good at. I can take a
(23:27):
look at a business that can take a look at
its numbers. I don't care if it's a larndromat, a
restaurant or it's you know, a publicly traded company, and
I can take a look, and I can look at
the internals and say what the thing you know is
properly valued at? And I can also say, you know
when it's undervalued and when it's overvalued. You want to buy.
(23:48):
When it's below you're never going to get it right.
No one gets in at the exact bottom and no
one gets out at the exact top. But when you
have market selloffs, and this is the importance of dollar
cost averaging, you're buying, you're not selling, You're not letting. Again,
you're not letting your emotions get the best of you.
(24:09):
But again, we're big fans of simplicity. I'm a big
fan of simplicity. Laws, rules, regulations need to be straightforward,
black and white, really that simple. Okay. A couple other things,
A couple of the things. Again, you need to understand
(24:30):
if you want to be successful, you want to be successful,
it is very important for you to understand that it
is not with a capital N. It is not important
to be right in the here and now, but to
be right eventually. In other words, what conventional wisdom, Because
(24:57):
what conventional wisdom says is the greatest idea greatest investment
today not always, but more often than not, happens to
be a lousy investment or idea. Markets okay, are not
in my opinion, they're not efficient over the short term
(25:18):
if you're actually looking at the fundamentals. Some of the
major calls that were famous for over the past thirty years,
whether it be calling the demise of Enron, the dot
com collapse, to collapse of the telecom companies back in
the nineteen nineties, Asian financial crisis, great recession, whatever it
(25:43):
may be. Okay, whatever the calls that we made, well,
guess what, they were contrarian at the time. They were
contrad they were that wasn't what everybody was doing at
the time, but they were proven true over time, Meaning
what what does this mean for an investor? You have
(26:07):
to have patience if you want to be successful. And
along with that as well, okay, is you have to
have courage. Sometimes things are gonna look like they're not
going your way. You're gonna have to stand in the
face of the chattering classes and the pundits. Man, oh man,
the slings and arrows that we took back in the
(26:31):
nineteen nineties. Oh my lord, I'm doing guest appearances and
I'm talking about how this these dot coms are going
to collapse.
Speaker 3 (26:38):
And again I was the moron. I didn't get it.
Enron collapse, the world's most.
Speaker 2 (26:43):
Innovative company, you know, five years in a row, forts
and magazine said it was Yeah, Well, I don't get
it doesn't make any sense to me. Again, you think
it look that two thousand and eight, two thousand and
nine equity market goes off the rail. How many of
you out there, be honest? How many of you out
(27:04):
there acted out of fear? How many of you out
there made very poor choices? In order to be courageous,
you have to well, it involves the thorough consideration of
all the facts. You need to keep emotion out of
the decision making process. Human beings Okay, like I said before, okay,
(27:28):
and this is biblical wisdom for crying out loud, thousands
and thousands of years old. Humans are not hardwired. We're
all broken. We're not hard but most certainly not hardwired
to be good investors, to buy high and sell low. Mentality,
those emotions that get the best of many people. They
(27:50):
take people over much too easily. Gonna take a quick
break right here again, I invite each and every want
of you to become a part of our family. And
I say, each and every one of you, Yes, Markowski Investments.
Speaker 3 (28:05):
We are a family office. Yes.
Speaker 2 (28:07):
Do we provide accounting? Do we provide legal for our clients? Absolutely.
You know what we do not do. We do not
shut the door on anyone. We are here to help
all investors. I don't care five million, one million, one
hundred thousand and fifty. We do not shut the door
(28:28):
on anyone. Sign up for our personal CFO program. Watchdog
on Wallstreet dot com is a place. You need to
get to Watchdog on Wallstreet dot com or give us
a call eight hundred four seven nine eighty four.
Speaker 3 (28:46):
Run through the.
Speaker 1 (29:00):
Only man who is taking on the Wall Street establishment.
You're listening to The Watchdog and Wall Street with Chris Markowski.
Speaker 3 (29:11):
Yeah, I'm dating myself.
Speaker 2 (29:13):
I've seen a lot in my thirty years in this industry,
without doubt. And you know, even even we got started,
we got started, you know, people kind of looked looked
at me, and then you know, my brothers. It's a
family business as kind of like maybe your old funny duddies,
(29:34):
even though we weren't old at that point in time,
looking at oh, this is new, new and improved trading.
And I go back to the nineteen nineties, think about
all those discount houses that were starting up. There was
a Merror Trade and E Trade and DLJ Direct, and
they had all these these commercials on TV basically proclaiming,
(29:59):
oh yeah, you're gonna open up an account with us,
You're gonna take care of the mark, You're gonna shake
it up all down. And then they kept adding all
sorts of gimmicks and tools and trading this and trading that,
and I'm saying that this is not going to turn
out well, and it hasn't. I I think that investing
its stocks, it's not a video game. To me, it's
(30:23):
not a video game. They're not electronic blips on a screen.
And I get it.
Speaker 3 (30:29):
I get it. Today's day and age.
Speaker 2 (30:30):
You know, you can see these quick movements and whatnot
due to high frequency traders and uh, you know, algorithms
and what have you. Stocks are an underlying ownership in companies.
The price of the stock and the overall value of
the company can be evaluated. That's what we do for
(30:54):
a myriad of different things. Money, the company makes, what industry,
what the expectations are for the future. Managing risk, you
need to understand that you risk is fine, it's justifiable
as long as it, like I said before, it doesn't.
Speaker 3 (31:13):
Lead to ruin. Again.
Speaker 2 (31:17):
I'm gonna mention this again. I really can't stand stand
the term financial plan.
Speaker 3 (31:26):
I don't like it. How does one plan for decades
of uncertainty?
Speaker 2 (31:30):
How does one really know when they want to retire,
change careers, start a new business, find their spouse.
Speaker 3 (31:37):
We're gonna I'm gonna talk.
Speaker 2 (31:38):
More about when we get back Watchdog on Wallstreet dot
com have to take another quick break again.
Speaker 3 (31:43):
Watchdog on Wallstreet dot com. Our site will be.
Speaker 1 (31:46):
Back, bringing America financial freedom, one listener at a time.
(32:08):
You're listening to the Watchdog on Wall Street with Chris Markowski.
Speaker 3 (32:13):
It's not it's not planning. It's not.
Speaker 2 (32:17):
That's not what we do when I'm financial planners. Okay,
we prepare you. It is a process here at Markowski Investments. Actually,
I go back and think about when I graduated from
college and when I got started in this business.
Speaker 3 (32:34):
What I thought. I tell this to my kids all
the time.
Speaker 2 (32:37):
I said, do you have any idea how dumb I
was when I was twenty one, How dumb I was
at thirty one, How dumb I was at forty one,
How dumb I was at fifty one? The amount you
learn about life and what you can pick up on
and we all we all limit our to some degree,
(33:01):
you get some idea in your head, or it might
be whatever you know they're trying to push on you.
When it comes to oh, I got to retire at
this age, set yourself up for this retire I don't
in a world am I going to be able to retire.
I'm got to stop helping people. We're going to stop
(33:22):
growing our business. I could could sell Markowski Investments today
at an absolutely ridiculous multiple, because that's what they're paying
at this point in time.
Speaker 3 (33:34):
But again, I didn't have that ethical bypass at birth.
Speaker 2 (33:36):
I know what's going to happen after the fact that
the private equity company takes over Markowski Investments. So no, no, no,
I'm not going to ever retire, and that's a good
thing as far as I'm concerned. But everyone's situation is
unique and different. We like to think of what we
do as a process that's going to help you and
(33:59):
your family to be able to adapt, to adapt to
the unknowable only God knows the unknowable terrain of life.
Been doing this radio show right here for twenty five years,
(34:21):
been doing my newsletter for almost thirty years, and the
entire time I've gone out of my way, gone out
of my way to try to basically get everybody to
wisen up to the realities of the poison that is
(34:41):
conventional wisdom. And it's not just economics, it's not just finance.
Speaker 3 (34:50):
It's everywhere.
Speaker 2 (34:53):
Recognizing being able to recognize the narratives, the self destructive
strategies that are.
Speaker 3 (34:59):
Constantly being pushed upon you.
Speaker 2 (35:03):
We like to call it from back in the day,
the Watchdog on Wall Street acxis of evil big business,
politicians and the media. Again, you continue to listen to
this program, you listen to our podcast, you are you're
gonna get it. Okay, You're gonna become your own little watchdog.
You're gonna be able to recognize, You're going to recognize
(35:26):
exposed narratives, hidden agendas. It's kind of like the matrix.
You start seeing things for the way that they are. Again,
I always like to use this phrase, and that's from
the television show Friday Night Lights, and it's about a
football coach in a small town in Texas. Coach name was
(35:46):
Eric Taylor, and he said something to his players all
the time that stuck with me, and it's truth and
it's simplicity. Clear eyes, full hearts can't lose. You think
about that for a second. Was he trying to get
(36:07):
across to his players see the world, the terrain, the
obstacles for what they are, not what.
Speaker 4 (36:18):
You wish they are or what somebody on TV or somebody.
Speaker 3 (36:24):
In social media is telling you what they are.
Speaker 2 (36:29):
And this is big two. You're gonna have to be
uncomfortable in life. Yeah, at times you're gonna have to
be uncomfortable. Again, we live very very comfortable lives. You're
gonna have to accept the challenges in front of you.
Embrace the challenges. I've written about this. I call it
(36:53):
embrace the suck. Embrace the suck.
Speaker 1 (36:56):
You know.
Speaker 2 (36:56):
I got that from I had that from a football coach,
football coach in high school.
Speaker 3 (37:02):
We're outside and we're.
Speaker 2 (37:03):
August heat, double sessions, you know again back when they
had double sessions and all that stuff, and he's telling
you got to go out there and you got to
embrace the suck.
Speaker 3 (37:15):
You do that wholeheartedly.
Speaker 2 (37:17):
And guess what, like coach Taylor says, you can't lose,
you can't lose. And the thing is is that, like
I said, I didn't come up with all this is
biblical wisdom for crying out loud.
Speaker 3 (37:32):
This is applicable.
Speaker 2 (37:34):
The process that we talk about here's not the Markowski investment.
I can't lay claim to this, but what I can
tell you it's applicable to just about everything in.
Speaker 3 (37:47):
Life, is it not? Is it not applicable to everything? Again,
I talk about this, you know, from time to time
here on the program.
Speaker 2 (38:03):
Hey, there's there's weeks here when we get back into
the nuts and bolts of Markowski Investments and what we
do for people. There's a lot of angst out there here,
and I get it. We're gonna talk about some stories
that I read and I was obviously a little upset
hearing about the student loan situation with my generation Generation X.
(38:27):
For crying out loud, we talk about the situation when
it comes to housing here in this country. Last week
mentioned the phrase again, I don't like hearing it financial nihilism.
Young people are just throwing their hands up in the
air and say.
Speaker 3 (38:41):
Ah, that's right.
Speaker 2 (38:43):
I was gonna gamble on everything. What difference is to
make I'm never gonna be able to make it. I'm
never gonna be able to get ahead. You can't have
that attitude, man, you can't. That's im I'm I'm not
gonna lie about the terrain. We don't lie about the
terrain here on the program, we confront the terrain. What
I'm encouraging to do. Do the right thing. Okay, focus
(39:07):
on the fundamentals, have a process, know thy self. Gotta
take a break. Watchdog on Wallstreet dot com. Watchdog on
wallstreet dot com is our site from part of the
Watchdog on Wall Street Family, our personal CFO program.
Speaker 3 (39:24):
We'll be back.
Speaker 1 (39:31):
You're listening to the Watchdog on Wall Street
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