Exposing Financial Untruths, Ep #86

What's up! It's episode 86 of Payne Points of Wealth and the sky is literally falling. We're in an official bear market now in the S & P 500. NASDAQ is down over 30%. The headlines get direr by the day. War continues in Eastern Europe. And Bitcoin, we warned you about Bitcoin, is melting down. Well, we're gonna break it all down for you today. We have a special guest on the show today, Lee Robinson, co-founder, and CIO of Altana Wealth, an asset management firm running all different hedge fund strategies. He predicted the credit crisis between 2007 and 2009. He's seen a lot of bull and bubble bursts, written a great book called "The Gathering Storm", has a BA in mathematics from Cambridge University, and he is a good friend of Ryan's.

You will want to hear this episode if you are interested in...

• Lee’s outlook on the current economic market [1:23]
• There’s neven been an empire that hasn’t failed [5:00]
• One piece of advice as an investor [10:01]
• The Tipping Point [11:20]
• The 80% lie [11:49]
• The income for life guarantee [14:19]
• If it ain’t broke don’t fix it [18:04]
• Hidden Facts of Finance [20:26]

Advice from Lee Robinson

In this episode, we talked with Lee Robinson. We asked him if he could share only one piece of advice, something that he's learned over the years that he could impart on the rest of us, what would it be? This is what he has to say.

"I think the biggest mistake that I see in finance is that people cannot work from forward back to the present. They get panicked, they see a company that has a profit warning because it couldn't satisfy an order. Well, those orders are still going to come, it's still a good business. So there's a lot of short-term emotion and not enough rational thought about long-term. And I think if you're investing, I'm not talking about trading. Traders are different people. They can buy high and sell higher. They can sell low and it goes lower. But as an investor—trust, try, and think forward. When you're in a pandemic and Carnival is not allowed to do any cruises, does that mean that cruising is over forever and that business is worth zero? Probably not. So I do think sometimes investors need to think I am investing for the long run. What does this business look like in the long run? And then think, well, is it too expensive today, rather than thinking I'm buying it today can it go up tomorrow? So I think investing is something people don't understand. They confuse it with trading.

This week on the tipping point: Financial untruths

For anyone who's getting close to being financially independent or going into retirement, there is this myth that you only need 80% of what you need when you're working when you're retired. 

We know that's just not true. Not only do you spend a hundred percent of what you spend today, in the first few years of retirement, you're not going to work anymore but you are going traveling, you're spending more time with your kids and your grandkids you’ll probably spend close to 120%. That's why it's so critical to have a strategy where you're updating your financial plan on a systematic basis. Our e-money portal because it updates everything in real time so it's easy for us to do a planning session if someone decides to take a longer vacation, buy

This week’s hidden facts of finance

• A group led by Walmart heir Robert Walton agreed to buy the Denver Broncos for 4.65 billion, a record in US pro sports.
• Apple generates more revenue than any other American company. This year, the total should be around 400 billion. To boost revenue by 10% Apple needs to find 40 billion in additional sales. Growth becomes harder the bigger you become.
• Worker swipe-ins at office buildings were recently in the 30 to 40% range in major markets, such as New York, Chicago, and San Francisco. It was above 50% in the sunbelt markets like Dallas and Houston. People are not back to the office in droves yet.
• US inflation is 48th highest on the list of 111 countries. Last year we were ranked 28th out of 116. countries. Inflation is a global phenomenon, not a US phenomenon. 

Resources & People Mentioned

Special guest Lee Robinson from Altana Wealth

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