😎 It's officially summer!

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Long sunny days, patios, and cold beverages. Here's what's in the cooler this week...

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• What's the "safest" portfolio?
• Navigating scenarios of early retirement
• What happens if you default on a personally guaranteed loan?
• Elementor releases a cool in-app AI
• A knowledgebomb video for growing on YouTube

Here we go....

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Sponsored by

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Warren Buffet said diversification is 'protection against ignorance' and basically it's for people who don't know what they're doing.

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Concentration might get you to a fortune faster, but if the investment strategy doesn't evolve, it can also disappear just as fast.

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Case in point: In 2012, a fella by the name of Eike Batista was riding high on a pile of cash worth a smidge over $35B. In the span of just two years, he didn't just go broke, he actually ended up owing $1.2B.

Concentration risk + leverage = 😵

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It's not just Eike. Rich families all over the place tend to lose their wealth by the time the second or third generation rolls around. Why? Because they make terrible investment choices based on terrible investment advice, and don't adjust their portfolio over time. What gets you rich, may not not keep you rich.

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So, what's the safest investment out there? The classic 60/40 portfolio? Cash? Some say government T-bills. But, even T-bills have seen a -49% maximum drawdown (oh and inflation erosion).

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This research suggests that the winner is:

• a diversified global market portfolio
• combined with "real assets" such as commodities, gold and real estate
• and topped off by a little cash.

Historically, this strategy has offered similar or even better drawdowns than T-bills, while also giving out better returns.

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​Whatdya think?​
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Did you know?

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🗞️ BUSINESS & FINANCEY STUFF

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🤑 Ever thought about early retirement? Does FIRE appeal to you? If so, it's worth taking a read at what the specifics can look like from a financial point of view. There is a lot worth thinking about than just "4%".

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🤑 Interested in blowing up your YouTube? Paddy Galloway, one of the most sought-after Youtube strategists around, gives a solid 30 min breakdown of how to do just that.

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🤑 Wall Street wants easy money crypto, and as the SEC faces backlash over its refusal to convert Grayscale's crypto investment vehicle into an ETF, BlackRock aims to launch the first spot bitcoin ETF in the US, with Coinbase as the custodian. Markets pump.

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🤑 Do you have a loan that's personally guaranteed? Here's what happens when you default on a $15M PG'd loan. WARNING: it's painful:

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Erik Kaiser @ErikKaiser I defaulted on a $15,000,000 personally guaranteed credit facility with Sovereign Bank. Time 2009-2022. $1,560,430.24 was the judgment amount to which I agreed. Bank's actual principal loss was $200k; rest was default interest, fees, atty fees. Pile on. Do you have an SBA,… https://twitter.com/i/web/status/1669736643043966977 12:0 PM • Jun 16, 2023 219 Retweets 2417 Likes Read 374 replies

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🤑 The Oracle is loving Japan right now. Shares are crushing it and Berkshire Hathaway has been busy boosting stakes in Japan's trading houses. The trading houses are essentially conglomerates, similar to BRK itself.
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🤑 The IMF is cooking up a plan to create a platform where central bank digital currencies (CBDCs) can mix and mingle and make transactions between countries. They're urging central banks to agree on a common regulatory framework before cryptocurrencies crash the party and take over. Good luck yo's 🫡

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🤑 Attitudes have shifted in three major ways: the Fed is becoming less hawkish, the economy is less likely to go into recession, and the stock market is giving crash predictions the middle finger. It's like the tides have turned, and investors are huffing on hopium.

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🤑 GA4, the newest Google Analytics, well... sucks.

But worry not, there is a good and simple solution to get the data you need: Clicky​

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🤑 Three central banks took three different paths: the US Federal Reserve hit pause on rate hikes amid slowing inflation, the European Central Bank hiked rates and hinted at further increases, while the People's Bank of China unexpectedly-ish cut rates to stimulate a sluggish economy. 🤷‍♂️ Strange times.

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🤑 The EU Parliament is making moves to regulate the use of Ai with the "Ai Act." It's attempting to tackle privacy, IP, and fundamental rights. If it passes, things could get confusing quickly, even globally with different countries trying to figure out their own rules.

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I can't wait for more annoying popups and check boxes on the web

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🤑 Nick Huber packages up his wealth of RE knowledge for us over 10 podcast episodes...

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Nick Huber @sweatystartup I've bought $100 million worth of self storage. I've raised $40 million of outside capital. These 10 videos in order will teach you 90% of what I know about real estate: E1: https://youtube.com/watch?v=3dZ-XTWViBY E2: https://youtu.be/cwFRfIoCXWU E3: https://youtube.com/watch?v=cfEhiD5UBkc E4:… https://twitter.com/i/web/status/1670620976923439104 youtube.com Who is Nick and Why Should You Trust Him? | E... Is real estate a good investment? Yes! But why trust a random stranger on the in... 10:34 PM • Jun 18, 2023 77 Retweets 732 Likes Read 20 replies

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🖥️ Ai STUFF AND COOL TOOLS

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♦︎ Yuuuuge drop from Elementor adding a new feature where you can generate and customize images directly within the Editor, no need for stock images. You can describe the image you want, choose from generated variations, and even edit and customize existing images. 💣

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♦︎ Google's "Search Generative Experience" (SGE), powered by an AI plagiarism engine, could potentially wreck the open web and create a pretty awful UX. Replacing expert human content with robotic snippets design to 'sound' like humans is going to probably suck.

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♦︎ Promptbox.ai is a Chrome extension to save, organize, and share your prompts from all your Ai platforms.

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♦︎ Framer.ai is another website creation tool worth playing around with, it's getting some pretty good buzz - some nice looking templates.

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♦︎ Google is beefing up its online shopping game with some new features. Now you can virtually try on clothes and see how they look on different models and body types.

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MEMBERS ONLY👇

Not a member? Fix that and join the waitlist here.​

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💣 ICYMI - It's sooooooo close! Big time changes, are coming to the membership community this summer! I promis announcements are coming very soon!

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If you're not a member click the link above☝️and get on the waitlist now, as we'll be opening to new members very soon!

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Great chats and threads from the Discord you may have missed…

• Tony kicked off an epic discussion on Wealthsimple which took on a life of its own.
• Travis dropped in an article on China bank created to challenge the USD, now needs USD.
• Brendan is looking for feedback on his newly built core web vitals tracking took - let's take a look.​
• Rob dropped in a MFM podcast episode well worth a listen.
• Travis gives us an update on the IBKR margin head scratcher.

In the forum...

• Tonight! Members only chat with Travis 8pm EST - check your email for specifics or watch for the link on Discord.
• The Marketplace is updated every week with new curated online business acquisition deals - Saas, Websites, Apps, Agencies, & Ecom businesses.
• Periodically Travis will host a guest in a 'Fireside' chat - Members can access recordings of all our Fireside Chats anytime here.​

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Disclaimer: Not financial, investing or tax advice. This newsletter is strictly for information, entertainment and education purposes. Nothing in here is investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your professional advisors. Do your own research. There will also be affiliate links in here from time to time because we like free money.