Do you invest in the stock market? Have you bought stocks and sold at a loss or a profit? If you’re like me, the idea of buying individual stocks can seem like a daunting undertaking. Our guest today is Jason Brown, who is a stock market investor and teaches people how to manage their own personal investments into the stock market.
*Please note, this podcast is not intended to provide investment advice.
TODAY’S WIN-WIN:
You are smarter than you think you are and that you can manage your own investments.
LINKS FROM THE EPISODE:
ABOUT OUR GUEST:
Jason is the founder of The Brown Report and Power Trades University, has over a decade of stock & options trading experience, is a podcast host, and YouTuber. Jason believes anyone can profit from the stock market, even if they’ve lost money before. They just need to know how to identify the best time to buy and sell and the correct option strategies that can supercharge returns and minimize risk. Jason helps people go from nervous beginners to confident stocks & options traders. Jason, welcome to the show!
ABOUT BIG SKY FRANCHISE TEAM:
This episode is powered by Big Sky Franchise Team. If you are ready to talk about franchising your business you can schedule your free, no-obligation, franchise consultation online at: https://bigskyfranchiseteam.com/ or by calling Big Sky Franchise Team at: 855-824-4759.
If you are interested in being a guest on our podcast, please complete this request form or email podcast@bigskyfranchise.com and a team member will be in touch.
TRANSCRIPTION:
Dr. Tom DuFore, Big Sky Franchise Team (00:01):
Welcome to the Multiply Your Success podcast, where each week we help growth-minded entrepreneurs and franchise leaders take the next step in their expansion journey.
Dr. Tom DuFore, Big Sky Franchise Team (00:10):
I’m your host, Tom DuFore, CEO of Big Sky franchise team. To open today, I’m wondering if you invest in the stock market and have you bought stocks and sold at a loss or a profit? If you’re like me, the idea of buying individual stocks can seem a little daunting, like a big undertaking.
Dr. Tom DuFore, Big Sky Franchise Team (00:30):
Our guest today is Jason Brown, who’s a stock market investor and teaches people how to manage their own personal investments in the stock market. Now, Jason is the founder of the Brown Report and Power Trades University. He has over a decade of stock and options trading experience. He is a podcast host and a YouTuber. Jason believes anyone can profit from the stock market even if they’ve lost money before. They just need to know how to identify the best time to buy and sell the correct option strategies that can supercharge returns and minimize risk. Jason helps people go from nervous beginners to confident stocks and options traders. This is a great interview, you’re really going to enjoy it. Just as a quick disclaimer, this is not meant to be investment advice for you. Certainly seek the guidance of professionals as you jump into it, but I think you’re going to love this interview with Jason. So let’s go ahead and jump right into our interview.
Jason Brown, The Brown Report (01:26):
Thanks for having me here. I’m Jason Brown, stock market coach and option Trader at the Brown Report. So I run a stock market education company and I’m the lead options trader in education.
Dr. Tom DuFore, Big Sky Franchise Team (01:37):
Excellent, excellent. Well, this is one of the primary reasons we’re hoping to have you on for you to share some of your knowledge and expertise. Just by way of getting into this whole discussion, this idea of financial freedom comes up a lot. We work primarily with small to mid-sized business owners that are out I think, on a quest toward financial freedom. You break this down into several different categories. So, can you walk through these five categories of financial freedom and what those are?
Jason Brown, The Brown Report (02:07):
Yeah, so financial freedom, when I think about financial freedom, a lot of times, not just me, most people think money. They just want to make a bunch of money. So for me, I think about financial freedom in the form of time freedom. Do I have time to spend with my loved ones? Obviously, financial is a piece of it. I think about it in terms of health, both physical and mental health, and then my relationship with God, my relationship with my spouse and people. So when you start to look at wealth and freedom, you see people who are wealthy with money but they’re losing their health or they don’t have their mental health so they can’t sleep at night, they’re stressed out, different things like that. So you really want to be balanced in multiple categories when you think about financial freedom as well as financial wealth.
Dr. Tom DuFore, Big Sky Franchise Team (03:03):
Very interesting. So it’s really taken a much more wholistic approach to how you view that.
Jason Brown, The Brown Report (03:09):
Absolutely, at least that’s how I look at it, because I would look at people and say, I want money but I don’t want to sacrifice my health for it, or I want money but now this person, you hear the stories, they don’t see their kids, their wife doesn’t know him, the dog doesn’t know him. So you want wealth but you don’t want it at the cost of giving up everything else. At least I don’t.
Dr. Tom DuFore, Big Sky Franchise Team (03:32):
Absolutely. One of the things I’d like for you to talk through is how entrepreneurs or small business owners can manage their own investments and helping build some of that financial aspect in addition to running their business because for many small business owners we’ve worked with, their business is that primary income vehicle and investment vehicle. So these other options are interesting. So I’d love for you to talk through that and how you work with small business owners.
Jason Brown, The Brown Report (04:01):
Yeah, so first I’m a small business owner myself, running a stock market education company. So I’m a business owner, but I’m first an options trader and investor first, and that’s my primary love. The thing that I think everyone has to know is whether you’re a business owner or not, all roads lead to the stock market. I think in life in general, we’re taught that somebody else knows better for us, somebody else knows how to manage our money or these people went to school for that.
Jason Brown, The Brown Report (04:30):
Your audience probably doesn’t know my story, but we grew up pretty poor in Detroit, Michigan and we slept in sleeping bags because we couldn’t afford beds. I thought you’d get a bed when you were a grownup. So when I turned 18, for us, if you graduated at 18, that was a big deal because where I’m from, you were either selling drugs, you got locked up, someone got killed. So when I turned 18, you graduate, you throw a big party, that’s just like, oh my god, he made it, not in jail. If you’re a female, you’re not pregnant, all this stuff. So it was tough times.
Jason Brown, The Brown Report (05:03):
I’m saying all that to say, I got my first $2,000 from that graduation party and I took it to a bank because I fell in that category. I thought they know what’s best for me. I would hear stuff like, if you started investing in this stock when you were 18 years old and you came back 20 years later, you’d be a millionaire. So I’m like, why doesn’t everybody do that? So I did that, I took the $2,000 to a well-known bank. Fast forward, I come back two years later, well, let me back up because the questions that they ask you are, she basically just said, “Why do you want to invest?” I said, “To be rich. Isn’t that why everybody would want to do it?” Then the second thing she said was, “So you want aggressive funds?” Yeah, I’m 18, I want aggressive funds. I need aggressive growth. So I come back two years later, I’m like, how’s my account doing? It was down to $700, so they had lost $1,300 of my money.
Jason Brown, The Brown Report (05:53):
So I’m sharing that story to say that we as business owners, entrepreneurs, or even if you’re just a W2 worker, the mindset is that somebody else always knows what’s best for you. They know how to manage money, they go to school for it. The reality is, a lot of people in those positions are just sales reps. They don’t actually even manage the money. They sell you on bringing the fund to their organization and then they’re on to the next person to sell.
Jason Brown, The Brown Report (06:19):
So when it comes to being an entrepreneur, typically like you said, your business is your retirement. So if your business doesn’t do well, it’s like, I guess you don’t retire. But if while your business is doing well or little by little, you could take a piece of that money and start to say, how can I create a second me? How can I have my money work as hard for me as I’m working for it? That’s where all roads start to lead to the stock market, to where while you’re working your business, working your day job, you actually got these little green machines running in the background that are generating money for you. So that’s why I believe everybody can manage their own money.
Jason Brown, The Brown Report (07:00):
Now, if you start talking about how can they manage their money, I think step number one, they need to be aware and first believe that they can. A lot of people say, well, I can’t do that, I’m not good with math. I always chuckle, I say, especially if you’re an entrepreneur, it’s like, okay, let’s say something costs $1,000 for your service, if a person gives you $800 in cash, you don’t count it and be like, it seems about like $1,000, I’m not good with math. No, you know exactly that they shorted you $200.
Jason Brown, The Brown Report (07:28):
But when it comes to the stock market, we like to hide behind that excuse, I’m not good with math. Who said it had anything to do with math? It’s about learning how to do research about companies, looking at stock charts and determining the best time to buy and the best time to sell and taking calculated risks. You already have some experience with taking a calculated risk or you wouldn’t have started a business, and you probably have some experience with doing research on a topic or an industry or you wouldn’t have moved into the industry that you’re building the business in if you didn’t research a little bit, know about the trends, why you think it’s going to be around for time to come. So we all have the natural skills to become an investor, it’s just a matter of if we believe we can do it ourselves, or do we want to pawn it off to someone else?
Jason Brown, The Brown Report (08:14):
I do want to say this real quick, it’s not a bad thing to pawn it off to someone else because sometimes you just don’t have time. The other thing is, you might not have a genuine interest in managing your own investments, but the more you know about it, the more or the better educated you’ll be when you hire or pass it off to someone. When you don’t know anything, like I didn’t know anything like an 18-year-old kid. The most sophisticated question they’re going to ask you is, why do you want to invest, and do you want aggressive funds? That’s exactly what happened to me.
Dr. Tom DuFore, Big Sky Franchise Team (08:47):
One thing that I’m curious about is the difference between buying in some of these individual stocks in the stock market, versus maybe a mutual fund. If you, in part of your education, talk through both of those, if you tend to have a preference of one over another, in terms of what we’re discussing here.
Jason Brown, The Brown Report (09:05):
So when you think about a mutual fund, there’s nothing wrong with buying a mutual fund. You just got to understand what it is. You’re buying a mutual fund, a basket of mutual stocks that Wells Fargo, Fidelity, whoever put together, not much different than your 401k. You got this predetermined basket of stocks that they put together. They can say, oh, I put together some real estate, some tech, some bonds, and it’s a “diversified portfolio.” That is one way to go. T].
Jason Brown, The Brown Report (09:39):
Hat goes more into long-term investing. What’s your age? How much are you trying to protect yourself in your later years, et cetera? But when you just look at the big picture of it, I looked at a mutual fund and I looked at a 401k and I said, wow, I only made 2% or 5% or 10%. Well then I did open heart surgery on the mutual fund and 401k and I said, wow, but out of these 100 stocks that are here, about 10 of those were the ones that went up and the other 90 did nothing or they went down. So I said, wow, what if I was only in those winning stocks?
Jason Brown, The Brown Report (10:19):
Now, obviously that opens up a whole nother door because, how do you know you can pick the 10 winning stocks? But it’s not about picking the 10 winning stocks, it’s about what are the characteristics of stocks that go up? Good management, being in an industry that’s booming or going to be continuing to boom, like artificial intelligence and all the computer AI chips that are being made right now. So it takes a little bit of understanding what makes a good company? What does good management look like? What does a trend look like? Like a trend of converting from gas cars to electric cars, and looking at a company like Tesla. With a little bit of knowledge and research, it’ll start to make sense what 10 you should be looking at.
Jason Brown, The Brown Report (11:02):
So it’s less about oh, I’m a stock picker, and more about I’m a stock researcher, and instead of having 100 where 90 aren’t really doing anything, I want to be in these 10 or 20 and get the best return. Because I looked at if I pull those out, I wouldn’t have had a 10% return. I might have had a 50% return or 120% return. I thought, okay, I don’t want to enjoy my money when I’m 59 and a half. How can I speed this up? I can speed it up if I’m part of picking and being in the best stocks, not just any stock that they wrapped up in a portfolio and said, here you go because it’s diversified.
Dr. Tom DuFore, Big Sky Franchise Team (11:44):
I like how you described that. You opened it up, open heart surgery on that mutual fund and looked into it. I think that’s brilliant, I love that description. As you were through this, and I fall into the camp of, I’ve invested into retirement accounts with mutual funds, there’s a set it and forget it. For me it’s far enough away that it just seems so far off that I don’t really think a whole lot about it.
Dr. Tom DuFore, Big Sky Franchise Team (12:08):
So for someone like me or others that maybe are tuning in, how do you help manage the fear of starting to trade on the stock market? Because it’s one thing to buy into it, but trading involves not just buying but then selling. You got to sell at some point and no one to do that. So people always say, well, you buy low and you sell high, and you hear these little anecdotes that get tossed around. So I’d love to hear what you have to say on that.
Jason Brown, The Brown Report (12:35):
Yeah, so one of the big components that’s important to understand is timeframe. So I want to be clear, there is no one size fits all. So if you’re like, it’s far enough down the road, I don’t like looking at it every day, there is a version of trading and managing your account that fits you. So when people hear trading or investing and actively management, they automatically think day trading, and that’s not what I’m talking about. Although that is a form if you’re like, I just want to do it every day. I want to make $100 every day. That is a game plan.
Jason Brown, The Brown Report (13:07):
But for someone like you, for example, when I was working my job and I had the 401k, one of the things that I would do is, let’s say you don’t want to pick individual stocks and you don’t want to manage it as often. What I would do is when I was at Verizon Wireless I worked at, I would look at the five and the 10-year return of the funds that I was in. The one that I was in that was the five-year, then I would look at the 10-year. So I would say, wow, over the last 10 years that one outperformed this one. So I’ve already spent five years in this underperforming one. I want to move over to that one because if the stocks in there continue to do what it should be doing, and we don’t know for sure, but I’m saying based on the chart and the trend, I should get a better return over there. So that’s one way to do it, is just compare from the four or five buckets that you have. That’s number one.
Jason Brown, The Brown Report (13:59):
Number two, you can do some long-term investing, and long-term is just anything over a year. So if you were to look at a chart of Apple, for example. They recently just ran up to about $200, but if you look at a stock chart, you can see they ran up to $200 about six months ago. So from that time till about two weeks ago, it’s been six months, it ran back up to $200 and it’s sold off. So when you look at those charts, you might be looking at stocks that say, I want to be in Apple, I want to be in Google, I want to be in Amazon or Microsoft or Nvidia. These are stocks that based on the chart, you wouldn’t have to do anything but twice a year. As it runs up to those levels, you may say, now it’s time to take some profit off the table and then look for the next stock that’s either fairly valued and has the potential to grow. So people like that, it’s like, well, then you only have to manage your account twice a year.
Jason Brown, The Brown Report (14:53):
Then there’s things we set up like alerts to say, hey, if the stock falls below this, I want to know about it. If it goes above this, I want to know about it. So you’re not just in a dark, hopefully that works out in six months and then you’re buying good and solid S&P 500 companies. Like I said, like the Amazons, the Googles, maybe Tesla, Apple, et cetera.
Jason Brown, The Brown Report (15:12):
So there’s more to it than we probably could get into in this episode, but the point is, once you have the knowledge of what to look for and then you pair that with what your personal goals are, you can start to create a custom game plan that fits you that says, hey, I only want to look at this twice a year. You can create a game plan for that as well.
Dr. Tom DuFore, Big Sky Franchise Team (15:33):
Thank you for that. I’m wondering, with your services and your company, how do you help someone get started? What are starting points that people when they come to you that say, well, Jason, I like what you’re saying and it’s great, and I’d love to learn more about this, but you’d go into Google and type in a Google search and I get literally millions of options and listings to start thinking about. So how do you help talk through that?
Jason Brown, The Brown Report (15:59):
So the way that I help people first and foremost, before they ever pay me, because I know people think, you must have a program or a course. I do, but before we even can get to that, I try to help people for free. You say, well, how do you help people for free? I help them with my YouTube videos and try to explain these concepts. I help them with podcasts like this and try to open their eyes first to, maybe I can manage my own account. Let me explore this more.
Jason Brown, The Brown Report (16:25):
Second step is, once you believe or at least are intrigued enough to say, let me learn a little bit more about it, see if I can get a better return than the bank, a better return than my financial advisor who calls me once a year, and maybe your financial advisor calls you more than once a year. Again, I’m not dogging financial advisors, I’m just saying that’s typically the protocol because they have so many clients, they just can’t talk to you that much. But once you get past believing, can you get a better return for yourself? The second question that people have to ask is, how? How does it work? So number one, you want to open your own brokerage account. The power in opening a brokerage account is they have what’s called a virtual trading section, almost every broker has it now. So now you can practice investing, you can practice buying that handful of stocks. You also now have access to the research tools to do fundamental research. But the problem is you’re like, I don’t know how to do fundamental research, I’ve never done it. I don’t know how to read a stock chart, I’ve never read one, even though I’ve opened an account and I got access to these tools.
Jason Brown, The Brown Report (17:28):
So the next step would be to get educated on how do I do fundamental research? What do I look for? What does EPS mean, which is just earnings per share, but you have to learn the language the same way they had to learn the language of franchisees and franchisers. You have to learn the language of the stock market. Once you learn the language, you understand how to read a stock chart, how to do fundamental research, now you’re ready to practice or buy your first stock in that virtual account and say, let’s see what would’ve happened had I put X amount of dollars to work.
Jason Brown, The Brown Report (17:58):
Now, typically you want to compress the timeframe because if I say, yeah, buy some of this and come back in six months, that’s typically not enough time to keep someone motivated. So we try to show people how they can make money in 30, 60 or 90 days. It doesn’t mean you have to try it because you can apply the tactics and the strategies to six months, 12 months or longer, but we try to show people how to make money in 30, 60, 90 days, even if it’s in the practice account, so that they can get a feel for like, wow. So if I did this for, if it’s 30 days and they made $1,000, they’re like, wow, so 12 months of this, okay. Then they can start to say, oh, if I had my entire account into this, this is how much I would’ve potentially made.
Jason Brown, The Brown Report (18:42):
Then we show them how to do it without losing all their money because I think that’s the fear of most people. It’s like, yeah, but I hear about people losing all their money. But the part that they don’t add onto that is you also hear about the people who lost all their money, they forgot to tell you that they’re gambling in the stock market, they’re buying the next marijuana stock, they’re in the Reddit forum playing with GameStop and AMC. These aren’t people who own Amazon, Google, Tesla, because the only way you could lose all your money is that Amazon, Google, Tesla went out of business. What’s the chance of that happen, especially in the next 30 days.
Jason Brown, The Brown Report (19:17):
So that’s what I would share with people, the path that I would direct them down. It’s first, belief. Number two is opening a trading account or a practice account. Number three, getting educated on what you’re looking at in there because if you’re just practicing the wrong stuff, that doesn’t help either. Then simulate what would happen had you had real money or had you pick those stocks or practiced those strategies in real life, but in a safe environment.
Dr. Tom DuFore, Big Sky Franchise Team (19:44):
Really, this is interesting and eye-opening for me just to think about and just from a candid conversation and thinking, oh okay, well this is a lot more approachable for me to consider something like this. Just on a personal level, I’m always intrigued. You can’t open up, well, not that many people open up newspapers anymore, but pull up whatever your favorite news site is and there’s always stock market tickers and keeping track of what’s going on and it’s front and center every day, everywhere. So it’s just interesting to look at that and I really appreciate your insight on that. So as we make a transition here, we ask every guest the same four questions before they go. I’d love for you to share just, how can someone learn more about what you’re doing and gathering some more information here?
Jason Brown, The Brown Report (20:29):
Yeah, so the best way is on our site, the Brownreport.com, we have what’s called a stock market starter pack. It talks you through how to open your account, how to do that virtual trading, what’s the chart patterns I should look for. It’s a free stock market starter pack for people to download, get started trading or investing in the stock market, open their account, learn the patterns. The other one is a stock option starter pack where it goes more into, how to use call and put options, how to protect your account, how to make money from stocks going down. So we also have a stock option starter pack. So I recommend people check out either of those or both of them at the Brownreport.com.
Jason Brown, The Brown Report (21:07):
Sometimes we think we know something and sometimes people have success in the stock market due to luck. You just bought anything during the pandemic and everything was going up, and so you think you know what you’re doing. So I think it’s for everybody, whether you’re a beginner or you think you’re an experienced trader.
Dr. Tom DuFore, Big Sky Franchise Team (21:24):
I love it. Well, we’ll make this transition here where we ask every guest the same four questions before they go. The first question we ask is, have you had a miss or two on your journey and something you learned from it?
Jason Brown, The Brown Report (21:36):
Yeah, I would say one of the misses on my journey takes me back to when I was 20, probably 25 years old, something like that. When I was first trading at eight, when I got my money back from that bank, I made my first $500 when I did it on my own and actually took a student loan and grew it to $120,000 as a college student. Dropped out of school, full-time trading, I run the account up to $300,000. Year three, I risk a quarter million trying to make half a million and I lose it all. So that was my miss on my journey. I lost all my money, I was flat broke, had to move back home after living the high life. That’s actually where the shirt, our saying came from, which is, you never go broke taking a profit, because I was up $100,000 in that trade, but I was trying to make half a million because I wanted to buy a condo downtown, Royal Oak, Michigan. Cash. Never dawned on me, just take the $100,000 and do that four more times. It was like, I need to make it all in one investment. That came back to bite me. So that would be the miss that I remember the most on this journey.
Dr. Tom DuFore, Big Sky Franchise Team (22:41):
Well, let’s talk about a make on the other side there.
Jason Brown, The Brown Report (22:44):
Maybe two years ago I had a trade that I closed out about 400, it was a little over $400,000, probably $440,000 profit. It was just one of those times paying attention to what’s going on it. It was in the middle of the pandemic, but it was when DocuSign, Zoom, I thought, okay, everyone’s getting on these platforms. Everybody and their mother has a Zoom account. So just again, understanding what to look for, why you think they’re going to beat earnings, et cetera. That was actually a hugely profitable trade for me. We actually took the profits, paid off our house, and that was the last official piece to becoming debt free, was paying off the mortgage. So that was a big make on our end.
Dr. Tom DuFore, Big Sky Franchise Team (23:29):
Wow, incredible, incredible. Let’s talk about a multiplier that you’ve used to grow yourself personally or professionally or maybe your own business.
Jason Brown, The Brown Report (23:38):
I would say the multiplier that I use is options. When I was thinking about what a multiplier would be, it’s definitely options. So options is where you can control the stock versus owning the stock. That was how I was able to grow that $10,000 student loan to like $120,000 and then eventually grow it to $300,000, was using call and put options. So it allows you to control higher price stocks for a fraction of the cost, it allows you to get into a bigger game without having bigger money.
Dr. Tom DuFore, Big Sky Franchise Team (24:09):
Really, really interesting. Well, the final question we ask every guest is, what does success mean to you?
Jason Brown, The Brown Report (24:16):
Success, it really means what we opened it up with, and that is having time, health and money together, not deciding which one is important. So that’s what success means to me personally. Then as an entrepreneur, for me, success is like, are my students and is my community having success? Because it’s not like, look at me, I’m so great, I’m making money, but do the people who invested in my program, invested in our courses, our coaching, are they having success?
Jason Brown, The Brown Report (24:49):
It’s funny, I just did a podcast about this on our own platform and it was just talking about knowing your why. Once you accomplished some of the things like paid off the houses, this and that, my why now it’s like, how can I support other people to reach their financial goals and dreams? So as entrepreneur, that’s how I define success. Is my employees and my team living a good life? Am I able to pay them a good wage because we’re handling our business? Are our customers making money or losing less than they would’ve lost by doing this by themselves? Because we can’t guarantee people will make money, but are they losing less money than they would’ve just doing this on their own? Are they learning each and every day. So that’s how I measure success as an entrepreneur.
Dr. Tom DuFore, Big Sky Franchise Team (25:33):
Well, as we bring this to a close, Jason, is there anything you were hoping to share or get across that you haven’t had a chance to yet?
Jason Brown, The Brown Report (25:40):
I just hope that people understand that they’re smarter than they think they are and that they can take control of their finances. I think sometimes we just don’t give ourselves enough credit. We think, gosh, this guy’s a genius, or how did they do it? It’s like, we breathe the same oxygen, we bleed the same blood. It’s not that we’re special. I like to say is that we have special information and if you can get the same information, you can get a similar result, you won’t get the same result because we live two different lives, we are investing at a different time in history. I can’t get the same result Warren Buffet got, but I can get my version of a similar result as long as I have the same information. So I just want people to believe in themself and realize that the information is special, not the person.
Dr. Tom DuFore, Big Sky Franchise Team (26:33):
Just one more time, can you share your website and those free resources? Because I think the tools you mentioned here sound absolutely fantastic.
Jason Brown, The Brown Report (26:40):
Yeah, they can get the stock market starter pack and the stock option starter at the Brownreport.com. That’s also where they can follow me on Instagram, LinkedIn, YouTube, all the things. Just head over to the Brownreport.com.
Dr. Tom DuFore, Big Sky Franchise Team (26:55):
Jason, thank you so much for a fantastic interview and let’s go ahead and jump into today’s three key takeaways.
Dr. Tom DuFore, Big Sky Franchise Team (27:02):
So takeaway number one is when Jason started talking about how entrepreneurs can manage their own investments and he gave a great little tip when he said, know that a lot of the people who manage money for others are essentially sales reps and will oftentimes just pass that off to someone else. Takeaway number two is when he talked about once you gain the knowledge of what to look for and you know your preferences as an investor, then it makes it much, much easier to get started in investing in the stock market. I thought it was interesting how he described how he did, what he described as “an open heart surgery” on mutual funds and found that a very small percentage of the stocks in a mutual fund were actually the high growth performers. So he said, well, what if you just were able to identify those top 10 or 20 stocks and then invest in those? Which is what he decided to do.
Dr. Tom DuFore, Big Sky Franchise Team (28:00):
Takeaway number three comes from the miss that he shared. I thought he had a great quote, and he said he puts it on his own T-shirts as well. He said, you never go broke taking a profit. Isn’t that true? Even in your own business, you never go broke when you’re making a profit. I thought that was just a great little nugget and takeaway. He gave that example of when he was trying to make a big, big return and he said, instead of making that $400,000 return at one time, what if you just make $100,000 four times, or maybe break it down even further, $50,000 eight times, and you can do the math in that way. So I thought that was just a great little piece of advice.
Dr. Tom DuFore, Big Sky Franchise Team (28:45):
Now it’s time for today’s win-win.
Dr. Tom DuFore, Big Sky Franchise Team (28:52):
So today’s win-win is when Jason mentioned right at the end of the episode when he said, you’re smarter than you think you are and that you can manage your own investments. I thought that was great advice. It’s something that I’ve taken to heart and something to just consider as an entrepreneur, as a leader and owner of your organization, just thinking of ways to maybe even diversify your investments. I know as a lot of times as an owner, you’re almost fully invested into your company where everything’s invested in there. So doing something like this might help diversify your investments just a little bit, even in your own management of it. I thought Jason’s encouragement and confidence in the individual being able to figure out your own preferences as an individual investor to figure out a way to make some money or return in the stock market, was very interesting to me. So I hope you found it interesting too and maybe took a little nugget or two away to apply to your own business or business operation.
Dr. Tom DuFore, Big Sky Franchise Team (29:55):
So that’s the episode today, folks. Please make sure you subscribe to the podcast and give us a review. Remember, if you or anyone might be ready to franchise your business or take their franchise company to the next level, please connect with us at Bigkyfranchiseteam.com. Also as a final note on this podcast episode, please make sure that you seek professional guidance or advice if you’d like some support before you make an investment into the stock market or portfolio. This podcast is not intended to be investment advice for you. Thanks for tuning in here, we look forward to having you back next week. Have a great week everyone.