This episode contains some of the best lessons I’ve learned about investing, making money, and growing your personal wealth. It was inspired by my recent talk with Ray Dalio, which has been incredibly popular and led to many additional questions about money and investing.
There is no doubt we need to create systems and procedures that work for each of us. What works for me might not work for you. But you can learn from some of the smartest money managers in the world, and this includes billionaires and legends in the world of finance.
This episode includes tips and recommendations from:
I also share my own personal investing strategies, and the methods I use to assess risk and reward.
Enjoy!
- Listen to it on iTunes.
- Stream by clicking here.
- Download as an MP3 by right-clicking here and choosing “save as.”
Want to hear another episode about money and investing? Listen to my conversation with Ray Dalio. We discuss how Ray thinks about investment decisions, the three books he would give to every graduating high school or college senior, how he might assess cryptocurrency, and much, much more (stream below or right-click here to download):
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QUESTION(S) OF THE DAY: What was your favorite quote or lesson from this episode? Please let me know in the comments.
Scroll below for links and show notes…
Selected Links from the Episode
- Connect with Marc Andreessen:
Twitter | Andreessen Horowitz | a16z Podcast
- Connect with Chris Sacca:
Twitter | Instagram | Facebook
- Connect with Peter Thiel
Founders Fund | Twitter | Clarium Capital |Palantir | Y Combinator
- Connect with Reid Hoffman:
LinkedIn | Greylock Partners | Twitter
- Connect with Seth Godin
- The Hard Thing About Hard Things: Building a Business When There Are No Easy Answers by Ben Horowitz
- Bridgewater Associates
- High Output Management by Andrew S. Grove
- Only the Paranoid Survive: How to Exploit the Crisis Points That Challenge Every Company by Andrew S. Grove
- Zero to One: Notes on Startups, or How to Build the Future by Peter Thiel with Blake MastersAirbnb
- Walt Disney: The Triumph of the American Imagination by Neal Gabler
- Smart People Should Build Things: How to Restore Our Culture of Achievement, Build a Path for Entrepreneurs, and Create New Jobs in America by Andrew Yang
- Bitcoin
- Coinbase
- In Tech We Trust? A Debate with Peter Thiel and Marc Andreessen
- The Start-up of You and The Alliance by Reid Hoffman
- Learn more about Greylock Partners
- A partial list of Chris Sacca’s investments.
- Want to skip an MBA program? Check out Feld Thoughts
The Tim Ferriss Show is one of the most popular podcasts in the world with more than one billion downloads. It has been selected for "Best of Apple Podcasts" three times, it is often the #1 interview podcast across all of Apple Podcasts, and it's been ranked #1 out of 400,000+ podcasts on many occasions. To listen to any of the past episodes for free, check out this page.
Comment Rules: Remember what Fonzie was like? Cool. That’s how we’re gonna be — cool. Critical is fine, but if you’re rude, we’ll delete your stuff. Please do not put your URL in the comment text and please use your PERSONAL name or initials and not your business name, as the latter comes off like spam. Have fun and thanks for adding to the conversation! (Thanks to Brian Oberkirch for the inspiration.)
Please provide text also rather than just audio. Very difficult to quickly skim although fast for you
Hi Tim, thank you for all you do. I am a follower and talk about your work to people all time. I am writing a book that is highly influenced by “The 4 Hour Workweek” and I would love if you could give me advanced praise. Please let me know the best way to get you more info. Thanks, Ritu
Pretty lazy session. Some of the comments deserved follow up, but scripted questions didn’t allow it. Also nothing much about investing, so the VERY lengthy preamble about risk and stuff was unnecessary.
Why do you sound like you’re a teacher giving condescending feedback? It’s a free podcast with a wealth of knowledge if you listen without an agenda. Maybe start with the ones that discuss virtues of gratitude.
Why do you forbid others from expressing their own opinions, even if they are negative? I thought in America it was natural to have different opinions. Try to.be more tolerant. PS. Got the very same feeling as regards this podcast.
Hi Tim: with respect, and you are brilliant, never drink wine with a cigar. Enjoy one or the other, but enjoy a cigar with a scotch or whiskey. Kids these days! 😉
Hi Tim,
Great episode. Have you reached out to Clay Jenkinson to be on your show?
I really liked this particular podcast because of the wide range of investors that you used. Chris Sacca might be the opposite of Peter Thiel and getting both perspectives was really interesting. I thought Mr. Thiel’s topic of competitiveness was really profound and helpful to me. I always viewed competitiveness as a driving factor, but when you step back and view is as a hindrance on your ability you get to see weaknesses in a whole new light. I’d like it if we can explore more philosophies on the most competitive people vs the people who use not being competitive as an advantage. Thoughts on this?
Tim, I just read your most recent five bullet Friday — and I have to tell you — Sam Berns was even better in person. I live the next town over from where he lived, and my nephews were in the HS band with him. He was an awesome human being and that video is just the tip of the iceberg. He is sorely missed in this part of Massachusetts, and is/was more widely loved in Foxboro than even Tom Brady.
The part that spoke to me the most was Peter Thiel talking about education (or learning). Mainly about whether it’s a consumption decision, investment, insurance, or a tournament. Very interesting way to frame what a lot of people see as a problem!
Tim, these short principles-and-highlights formats rock, mille grazie.
I’ll try to be more constructive with suggestions, but none other than keep on keeping on. For me, each tween-isode instructs and reminds on the value of mental models as anchors to systematic thinking – and really, better living and mental state. There are always new ideas that we can take away and – simply – I value the repetition of the best of these in the summary Ferrissosodes, and the straightforward production.
In particular, value how airtime with old friends always throws out some sense of “early days” for both of you – particularly relatable for us tribe. And, the inclusion of the philosophical range in including Senor Godin.
I scribbled down, in indelible 2H pencil in my journal, Seth Godin’s comment:
“once we have enough for beans and rice and taking care of your family and a few other things, money is a story”
…and the riddle that he tells to explain that.
Keep on keeping on!
Quit my consultant assignment after 7 years! Didn’t know what to do 4 week ago, start reading your book T4HWW 2 weeks back, today I launched my first webbshop. Now my goal is 10 sales.
Tomorrow I take my family to Ly Son in vietnam (we live close by) and in 4 weeks we fly to Hong kong and later Tokyo.
Whatever happens, at least I have hope again =)
Also I will learn how to surf.
Thanks for the push!
Hi Tim, is it possible to read through these interviews. Some of us read faster and better.
Have a great day!
Hi Tim,
Great episode. Have you reached out to Clay Jenkinson to be on your show?
Definitely a valuable podcast. However, for anyone interested in this subject, I recommend listening to each of these in full. To be honest, I didn’t find much value in this one because I’ve listened to most of them, but this was, more importantly, a reminder of the older ones which have some real golden nuggets.
//Felix
Great podcast, I’d love to see Thiel on again with you interviewing him rather than just your questions. What do you think?
Hey Tim,
thanks a for all the great content you put out every week!
I really enjoy listen to your podcasts, also this episode with inspirational persons.
I think Reid Hoffmann mentioned a few blogs with helpful insights from VC’s and Investors. Due to the fact I’m not a native speaker in Englisch, I struggle to figure out all these blogs.
Could you provide the links to the blogs, would be awesome!
Thanks and have a great day,
Philipp
Well Mr Ferriss, another thought-provoker for me. As a philosophy major I tend to ramble but i’ll try to be succinct(ish); not sure there’s an actual question here per se but maybe food for a later Q&A…
I found a certain part of Chris Sacca’s segment quite disheartening, and that was the way he chooses investment opportunities, specifically, “if i get the sense that the pitcher is trying to convince themselves…” as i feel in my bones that this describes me in almost everything I do, never having certainty in my choices – but at the same time not knowing why others do.
Perhaps the distinction here is between certainty and conviction, but isn’t conviction simply ‘acting as if we have certainty’ which somehow seems worse. I’ll be horribly pretentious and quote the Tao Te Ching, “Boasting about yourself will never boost your eminence, parading yourself parodies leadership.” (v.24) I can tell from the demeanor of all your guests that they do not embody this failing, they all display insight and some humility in spite of their achievements, but what then is the essential difference that allows conviction without unchecked ego? (Aha! A question! And the obvious corollary, “What have I missed/misunderstood?” seems like a good place to leave it.)
The good news for me is that I don’t need to find investors, only customers (EFL learners), but i think the same problems can apply, right? It’s early days yet, but i know that i would not have got even this far without encountering your work (and my wonderful girlfriend of course). Thank you for that, and if you ever want a free lunch in Bangkok then i owe you one. 😉
Loved the 3 “advantages” – informational, analytical and behavioral. Behavior is definitely the missing link for most investors. Nobel Prize winners Kahneman and now Thaler have shown the way with insights like “break-even” and “house-money” effects. The question is, how to follow?!
Excellent work Tim! I appreciate the part about Chriss Sacca saying you should look into the future and see the outcome of your business.
Hi Tim, I really loved the recent up-voted questions podcast! It’s a nice variation from the interview format [and I’d LOVE to hear your parents on the podcast. Let’s hear from the people who shaped your formative years!]. Is there a way to vary the speed (ie 1.5x normal speed) of the playback, similar to YouTube? Many thanks, Mary