Value Investing In Your Car Episode 7 – Mini Book Review Of Total Recall

Value Investing In Your Car Episode 7 – Mini Book Review Of Total Recall

In Episode 1 of Value Investing In Your Car, I answered the question Does Value Investing Work Anywhere In The World?

In Episode 2I answered the question When Does Value Investing Work Best?

In Episode 3, I told you about the best book I read in 2017, and recommended some other great books that I read in the same year.

In Episode 4, I talked about how my family inspires me to become great and how having someone or something inspire you can change your entire life.

In Episode 5, I talked about how I may have found a new investment for the first time in almost 3 years.

In Episode 6, we talked about Anchoring Bias, its immense power, and how this relates to value investing.

And today in Episode 7, I’m doing a mini book review of Total Recall: My Unbelievably True Life Story – Arnold Schwarzenegger’s autobiography.

Let’s get to it…

Mini Book Review of Total Recall

Probably The Best Autobiography I’ve Ever Read

This is a value investing blog so why the hell are you seeing a picture of Arnold Schwarzenegger above?

To almost anyone on Earth, Arnold Schwarzenegger is likely thought of as a movie star, icon, bodybuilder, Governor of California or some combination of those four things.

But did you know he was wealthy before he became a worldwide movie star?

If you didn’t, you’re not alone…

This biography had been on my radar for years but I didn’t actually buy it until I heard Tim Ferriss interview Arnold about the book and get into how he’s a successful business person and entrepreneur.

I mostly read finance and finance – related information so why would this biography even be on my radar to read at all?

Because for people of my age – I’m 31 – Arnold Schwarzenegger is a bit of an icon.

I grew up with his movies, his fitness programs where in my schools all the way up to middle school, I won several of his Presidential Physical Fitness Awards in elementary and middle school, and after listening to this fantastic book, I learned he was an even bigger influence than I first knew for people of my generation.

For example, I didn’t know he was a huge force in bringing back the Presidential Physical Fitness Awards mentioned above until listening to this book. And I didn’t know he was a huge partner in building the restaurant chain Planet Hollywood that was big in the 90’s.

In short, if you are in my generation in the US, Arnold Schwarzenegger was a force and he had a massive influence on society.

But again, even with this, I didn’t buy the book until he and Tim Ferriss talked about his entrepreneurship and various business ventures. This is what hooked the business nerd in me to finally buy it.

And I’m glad I did…

It’s one of the best autobiographies I’ve ever read. And it’s going into the Recommended Reading and Viewing Page as a MUST READ!!!

Here is a brief video talking about why I loved this book so much.

Some of the stuff you’ll learn in this fantastic book are…

  • How he came from nothing in Austria to become a worldwide icon
  • ALL the business ventures that led him to become wealthy well before he even stepped on a movie set
  • How fantastic his work ethic is
  • How optimistic he is about almost everything
  • How varied his interests outside of movies, bodybuilding, fitness, etc. are
  • How he helped build organizations like the ones above and the Special Olympics
  • How and why he got into politics
  • How he built not only several business empires but also a real estate investing empire
  • And much much more…

After I finished the book, I did some research and found a couple of articles that estimated JUST his real estate investments to be worth north of $300 million.

And this doesn’t include any value from his movies or other business ventures.

So not only is Arnold Schwarzenegger a cultural icon to so many in my generation but he’s also become one of my business icons after listening to this fantastic audiobook.

I’d love to hear your thoughts on Total Recall in the comments below if you’ve read it.

Before you go, here is another great article about Arnold’s real estate empire and the mindset that led him to reach this status.

P.S. If you’d like all future posts like this, make sure to sign up to our mailing list for FREE here. You’ll also gain access to free gifts that will help you become a better value investor as well just for signing up.

P.P.S. If you want to become a great value investor fast and at a fraction of the cost of a normal university check out our new Value Investing 6 Week Masterclass.

Value Investing In Your Car Episode 6 – The Power Of Anchoring Bias

Value Investing In Your Car Episode 6 – The Power Of Anchoring Bias

In Episode 1 of Value Investing In Your Car, I answered the question Does Value Investing Work Anywhere In The World?

In Episode 2I answered the question When Does Value Investing Work Best?

In Episode 3, I told you about the best book I read in 2017, and recommended some other great books that I read in 2017.

And in Episode 4, I talked about how my family inspires me to become great and how having someone or something inspire you can change your entire life.

In Episode 5, I talked about how I may have found a new investment for the first time in almost 3 years.

And today in Episode 6, we’re talking about Anchoring Bias, its immense power, and how this relates to value investing.

So what is anchoring bias?

Anchoring Bias – A Major Cognitive Bias And Mental Model

Anchoring bias is an incredibly powerful cognitive bias.

Above is the generally known definition for anchoring bias… I would change one minor thing about the above – this change is in bold.

I would change it to this – “Anchoring or focalism is a cognitive bias that describes the common human tendency to rely too heavily on the first piece of information offered or the piece of information that best fits what they want.  Even if it’s not reality.

Why?

In the 10 minute video below, I describe a real-world example about how I struggle with anchoring bias and gas. What I do about this bias, and how understanding the mental model of anchoring bias and what to do about it can help you become a better value investor.

I talk about a real – world example in the video above but a value investment example would be…

Let’s say you found a small cap investment that is undervalued and that it’s worth $25 per share, so you decide to buy its shares at $20 while you can.

Instead of going up though, the stock price drops to $10 a share – or a 50% drop – 6 months later based on some very short – term problems for the company.

After reanalyzing the company to see if you made a mistake, you find out that these problems haven’t changed the economics or profitability of the company at all. And have done nothing to harm the long – term health of the company’s operations or balance sheet.

Should you buy more, do nothing, or sell your stock?

If you let anchoring bias get in the way – and your emotions take over – you may make the decision to sell because of these short – term problems.

Even if you should hold on – or even maybe buy more shares – since the company is the same or better off now, than it was when you first bought.

Knowing what anchoring bias is and how to potentially deal with these emotions and cognitive biases are part of the battle when you come across this example yourself after you buy an investment.

Some of the other stuff talked about in this video…

  • Why understanding Anchoring Bias is so important for value investing
  • Why understanding other cognitive biases and mental models are important to become a great value investor as well
  • How I still struggle with anchoring bias every time I gas up my truck
  • What I do about this
  • How I fight against this and other biases
  • And more

I’d love to hear your thoughts on anchoring bias in the comments below.

Here’s another post on Medium about anchoring bias if you want to learn more.

P.S. If you’d like all future posts like this, make sure to sign up to our mailing list for FREE here. You’ll also gain access to free gifts that will help you become a better value investor as well just for signing up.

P.P.S. If you want to become a great value investor fast and at a fraction of the cost of a normal university check out our new Value Investing 6 Week Masterclass.

You Can Do Anything You Put Your Mind To Part 2

You Can Do Anything You Put Your Mind To Part 2

I wrote the original You Can Do Anything You Put Your Mind To post in 2015, with the hopes to inspire you.

To help you see that if you’re willing to work hard enough, you can do anything you dream of…

Even if you only have literally half a brain like one of the little girls I highlighted in the post linked above.

Today’s post is an elaboration of these thoughts.

Last week I announced the launch of our new Value Investing Journey Masterclass.

In this 6 – week course, you’ll learn everything you need to know to become a great value investor.

You’ll learn the terms, to what they mean and why they’re important, to multiple different valuations and how to use them, how to read and take notes from financial statements and more.

By the end of this course, you’ll know how to evaluate businesses BY YOURSELF, and you’ll have all the necessary tools to become a great value investor and business analyst.

But you won’t just learn about value investing and finance.

You’ll also learn about how you can get better in many aspects of your life since you can use almost everything in this course every day.

For example; patience, discipline, and emotional stability – the majority of what I talk about in this first week of the program and throughout the entire course at length – are ultra-valuable life skills.

And you can use the skill of value investing every day if you’re a business person or entrepreneur.

Why do I put this kind of stuff in a value investing course?

Because learning how to become better in ALL aspects of your life EVERY SINGLE DAY will help you become great.

Continuing from the example above, we could all use a little more patience, discipline, and emotional stability.

To me, a huge part of becoming your best self is first believing in yourself and believing that You Can Do Anything You Put Your Mind To.

At the beginning of this post is part one of my thoughts on this.

Below is a brand new video I recorded for members of the Value Investing Journey Masterclass where I elaborated on these thoughts.

I’m sharing this exclusive video from the course with you today for FREE because I want to prove to you that you can do the same in your life. You just have to be willing to do the work.

Highlights of the 22-minute video are…

  • I go in-depth on my life story on what led me to where I am today
  • Overcoming severe health issues that have taken 42% of my life thus far and still counting
  • That’s not a typo
  • I’d never thought about or calculated this number before doing this video so I almost break down on camera while talking about this and coming to this realization
  • How you can do anything you put your mind to if you’re willing to work towards your goals and dreams every day
  • Even if for only 30 minutes a day
  • And more…

This is just one of the dozens of videos I recorded for this course. Just one of the 85 lessons – I put about because we’re still tweaking the final number – in this course for you to learn from.

And it’s just one of the dozens of hours of videos, articles, PDFs, book recommendations and more from this program that will help you reach your life’s goals.

To invest in yourself and this Value Investing Masterclassclick here .

I hope this post helps you realize you can do anything you want in life because I believe in you.

Jason

P.S. If you’d like all future posts like this, make sure to sign up to our mailing list for FREE here. You’ll also gain access to free gifts that will help you become a better value investor as well just for signing up.

P.P.S. If you’re looking for a more one on one mentorship and coaching program, check out our intensive Value Investing Coaching Program here.

The Next GE – Interview #2 With Eric Schleien of The Intelligent Investing Podcast

The Next GE – Interview #2 With Eric Schleien of The Intelligent Investing Podcast

In the first interview I did with Eric Schleien of The Intelligent Investing Podcast in 2016, we talked about more general value investing concepts, mindsets and processes.

In today’s interview, we talk about an investment I made in 2015 that I called ‘The Next GE’.

In the 27 – minute interview linked below, we go over this investment case study style that I recommended in October 2015 exclusively to Press On Research subscribers.

We do this to figure out a couple of things…

  • Why I titled this company’s recommendation issue ‘The Next GE’
  • Why they’re now up 460% as of this writing since I recommended them

Some of the other things we also talk about in the interview are…

  • Valuation
  • How this company compared to its competition
  • Where I found this company
  • How I found this company
  • How you can find extreme value in the small cap OTC and ADR arenas
  • And more

Here is the description of the interview from Eric’s podcast site…

In this interview, Eric Schleien goes through an investment case study Jason Rivera recommended to his subscribers and for the portfolios he manages about a small and obscure company that has almost tripled since 2015.

When he recommended them, he titled the issue The Next GE and in this interview we go over why he thought that.

His podcast has interviews with other great up and coming value investors as well so make sure to listen to them.

You can listen to the interview here if you don’t have iTunes.

Or you can listen here if you do have iTunes.

Make sure to follow Eric on Twitter, and subscribe to his great podcast when listening to either of the above places.

I hope you enjoy and find some great value in the interview.

Oh, and by the way…

If you listen to the interview, you also get a couple of free resources to learn from that I provided exclusively to listeners of this interview.

One I’ve never released before other than to paying subscribers.

I hope you enjoy 🙂 and let me know your thoughts on this company in the comments below once you listen to the interview and download the FREE resources.

P.S. The analysis I did on this – and EVERY company I evaluate – is based on the preliminary analysis template I developed over the last 11 years, and after evaluating thousands of companies. If you’d like a copy of this to do your own preliminary analysis, you can get yours for free here.

P.P.S. I put on a FREE webinar last Thursday teaching The 3 Secrets That Have Helped Me Beat Buffett In The Stock Market, so you can possibly do the same. If you’d like to sign up for FREE to view the replay of the webinar, you can do so here.

Throwback Thursday – Updated Recommended Reading and Viewing Page

Throwback Thursday – Updated Recommended Reading and Viewing Page

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This is the fifth post in our new Throwback Thursday’s Series, where we share with you posts from the past blogs to bring you as much value as possible.

I’m not posting a ‘normal’ article today, instead I’m posting the updated Recommended Reading and Viewing Page in full below.

Why?

Because one of the questions I get asked most is some version of the question “What are some great books you recommend?”

Well these books, sites and videos are some of the best resources I’ve learned from over the years.

This is the most up to date version of the MOST viewed page on this blog every single year. This update includes 11 new book recommendations.

I know the resources on this post and on the Recommended Reading and Viewing page can help you reach your goals.

Jason

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