"An Economic Hurricane Is Coming" - Recession, Money, Power, Chaos & WW3 | Patrick Bet David
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- Опубликовано: 7 фев 2025
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In this episode we discuss the FTX Collapse & Upcoming Market Crash. Entrepreneurs Tom Bilyeu and Patrick Bet David go deep on the current economic landscape.
Welcome to another ground-breaking episode of Impact Theory. I'm excited to have the hard conversations that will potentially help you shape the life you want for yourself and your family.
In this episode, we dive straight into the recent FTX verdict that is sending major ripples though the financial world with the announcement of a potential 100+ year sentence on the horizon.
Patrick Bet-David, founder, creator mentor and highly successful serial entrepreneur joins me to explore the concept that only the paranoid survive. This isn't about living in fear, but rather about being alert, aware, and ready for any curveball life might throw our way. It's about realizing that paranoia can be a powerful tool in taking precautionary measures to safeguard your future.
The FTX case is a stark reminder of the importance of vigilance and the critical need to stay informed.
We've all had our fair share of missed opportunities, times when we wished we'd paid closer attention or taken a different path. But it's not just about regret; it's about learning to optimize for options.
Our exclusive conversation features insights from Patrick Bet-David, who warns, “If you’re going to spend more time on Netflix, more time watching all these shows, [...] if you’re going to spend more time on that than building value for yourself, learning new skill sets, yes the market’s not going to favor you the next 18 to 36 months.”
This episode is not just about facing the hard truths, but also about developing resilience and adaptability. It's about equipping you with the tools and mindset necessary to navigate the turbulent waters ahead. So buckle up for an enlightening journey into the realities of success and economic landscape.
To Pre-Order Patrick’s new book “Choose Your Enemies Wisely” click here - www.chooseyour...
Chapter Markers:
[00:40] FTX Fraud Verdict
[17:17] Bigger Than A Recession
[41:38] Global Meltdown
[54:23] Only the Paranoid Survive
[1:08:35] The Falling Empire
[1:22:04] “Sell Me On America”
[1:41:07] A Stance For Values
Patrick Bet-David Quotes:
“Who in the hell in the first place trusted giving this guy this much money without a board?”
“The best news here is a certain level of accountability taking place.”
“Study closely who you’re in business with.”
“Ask more questions before you jump in with excitement cause other people are getting involved.”
“You’re going to see the first trillionaire in the next 24 months cause none of this is going to affect the guys at the top.”
“If there’s anybody that should be against printing money, it’s low and middle income families, [...] the poor and middle America can’t keep money, they spend it, and when they spend it what do they buy, they buy a product owned by somebody in the S&P 500…[...] money flows up.”
“Middle America is getting smaller and smaller and smaller every single time we print money.”
“Right now you have to be looking at this sh*t’s out there. What part of it do I control? What part of it do I have no control over, [...] I have to figure out how to increase my market value or else I’m going to get crushed.”
“If you’re going to spend more time on Netflix more time watching all these shows, [...] if you’re going to spend more time on that than building value for yourself, learning new skill sets, yes the market’s not going to favor you the next 18 to 36 months.”
“Success is really a game of mixing optimism and paranoia, you’re going to need both.”
Follow Patrick Bet-David
Website: www.patrickbet...
Twitter: / patrickbetdavid
Instagram: / patrickbetdavid
Follow Tom Bilyeu:
Website: impacttheoryun...
Twitter: / tombilyeu
Instagram: / tombilyeu
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I believe this episode marks a pivotal moment for Tom. It might just be the most significant one in his content journey. As Patrick rightly pointed out, Tom has a substantial following, and I've sensed he's been maintaining a neutral stance for a while. I'm excited to witness the emergence of a new, more assertive Tom
Agreed.
I could not have said it better. I was very impressed that Patrick was on Tom’s show, just shows Tom has really moved up there.
Upvote.
Hope so! My opinion is he’s pretty fake. Sad he’s so wishy washy
PBD is a ROCKSTAR! I love that he does not gaf about speaking truth about politics, religion, finances, etc. Much RESPECT!
Really? Watch him on Tucker Carlson. He’s full of shit on politics. Lied and lied and lied.
He says that Biden is an actor wearing a mask. And people believe him.
I went to the Philippines to meet my future wife in 2013. Let me tell you, the poverty was a shocker. I told my friends; I have a new appreciation for America. I got to the PH the night before Typhon Yolanda hit. I saw the aftereffects and there was no difference. Poor people in America have a car or two and a big screen TV. In the PH, they're lucky to have a loaf of bread to eat.
This is the best conversation on RUclips so far....I hope Patrick and Tom continue this dialog. This is how we heal.
Love that for us 😊 🇺🇸
One year later from the financial side markets are killing it. Really hoping you or others didn't fear sell their stuff last year
Two hours with two of the most thoughtful, intelligent and articulate men around today ❤ Great interview on both sides!!
Great interview? Agree to disagree.
I frequently contemplate whether those who navigated the 2008 market crash found it comparatively less challenging given the distressing conditions prevalent in today's markets. In just this November, my portfolio has suffered a substantial loss surpassing $27,000, sending my profits into a downward spiral. The disconcerting truth is that this tumultuous market environment is jeopardizing the prospects of a secure retirement. It is disheartening to observe my reserves stagnate without any indications of growth.
Even in this whirlwind, there are chances to be had, thus an increase in volatility is not always a bad thing. You have an opportunity to rebalance thanks to volatility. In order to help you diversify your portfolio, you must hire a financial counselor or broker.
Thank you for your advice, it's challenging to find a reliable investment advisor here. Seeing the success you have achieved through investing I would love to have access to your investment advisor.
Thanks for talking about your financial consultant. I will definitely look her up and get in touch with her
@kelvin_benson You pushing this slw person, is it an act of faith, or personal interest for you.? Get off !
You got to let go of short term results/fluctuations and be thinking of the ten year, twenty year and out results. Unless you’re over 50-55.
Wow.. Patrick is a realist and is able to put into words what so many of us think and feel these last few years. Thank you for have a thoughtful, adult discussion with him!!
The beauty of logic is that it doesn't "Feel" it's way around in a dark world in anticipation of everything that resist making "Perfect" sense. And to think Patrick is articulating things he's never felt about the Same things he's never seen before.
He can talk non stop
i love Tom but I hate Patrick. He had a pyramid company that preyed upon the elderly and drop-out college students.
Very interesting to see PBD go from being the interviewer to the interviewee. Being able to do both just shows his intellect. Love it ❤
I doht dislike him but he doesn't strike me as an interesting YT personality. He sort of says and talks about the same things in every interview and behaves the same way. I dont mind the guy but him alone on his own channel is just another boomer coming into this space and acting and behaving the part, saying the same stuff again and again wearing a suit worth more than a months rent/mortgage of most of the audience. Im not trying to be rude, but I am trying to see a bar set that's as fair as possible. He doesn't have to agree with my opinions but I'm really just trying to understand what made you like the dude
@@mathewhex7045Pat is an MLM grifter using politics to get attention so he can plug his MLM company when all eyes are watching! He does belong in this space , hes doing all for clout to gain a following.
DOESNT belong
@mathewhex7045 Pat ran a sleazy MLM life insurance scheme where 95% of the licensed sales agents make less than a minimum wage worker making $7.25hr while he leeched off their commissions and charged them $200 ea to get licensed in addition to charging them for high-priced hype seminars.
Book tour
I recommend diversifying your investments by considering stocks alongside real estate. During a recession, there are potential buying opportunities in the stock market if approached cautiously. Additionally, market volatility can offer short-term buying and selling opportunities. However, please note that this is not financial advice. It's important to be proactive in investing as cash may not be the most advantageous option during these times.
You’re right! The current market might give opportunities to maximize profit within a short term, but in order to execute such strategy , you must be a skilled practitioner.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
She is Rachel Sarah Parrish. look her up
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
Patrick is a real man and he understands what makes the world turn. He cuts through everything and clarifies.
Are you kidding me? He speaks in circles.
lol makes me think these are fake accounts that work for valuetainment
@@peterponcedeleon3368 Exactly, he knows but he won't tell the real story.
He is terrible
I love pat, but come on. The guys mother probably meant to move on and fix a problem instead of stay mad and blame people without solutions. We can fix this problem with regulation. If people hate it, fuck em. If society held itself accountable and did t fall for crap like this there’d be no need for regulation. And trump says similar shit: doesn’t need the Republican Party, ignores his foreign advisors etc. WTF does pat love him. Hell, I bet Sam knew trump would blow the election and his friends didn’t want the Republican Party to lose the election so they could get their tax cuts. Get fucked.
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless." - Thomas Jefferson
Those words absolutely cut to the bone...
The economy is not broken, it works perfectly. THINK ABOUT IT!?!?!?!?!?!?!!!!!
Federal Reserve is a private banking cabal.
Crypto is controlled by the private sector so how do navigate this problem? Less(er) regulations perhaps?
How about not buying another home and invest in new/ out of retirement small farmers for chickens eggs beef and pork for locals, and build our alternative to the govt funneling prices up on essentials. Open sourceed and by donation or barter option. If energy goes down, we have some power.
I’m immigrant. I came to America. I owe America. The only things I brought into this country is the love, family value, respect of other, and hard work.
You Sir are the type of immigrant that America needs. Good luck, and I hope you attain The American Dream...
💯 you are the exact type of immigrants I love...best of luck..
I'm an immigrant too! Married an American 21 years ago and raising up 3 children.
May God bless this Country!
99% of Americans support you sir. The issue is not with ethical human beings like yourself. The problem is letting anyone come through illegally and in massive groups in a short time. Its not only taxing our resources, but we have no idea who they are, their ethics, intent, work ethic, morals or how they feel about our country.
Welcome home!
I’m agnostic leaning atheist & if there was a church of freedom, I’d be attending everyday to listen to Tom. Thank you for continuing to do what u do & showing up to share your voice
PBD is the goat. I think he made Tom think. Too many successful people act too tolerant with ideas they know don’t work. It’s time for successful people to share how they live and what works and not feel ashamed. Kudos to PBD for fighting for us
You are right Nick! 👏🏻👏🏻👏🏻 PBD class act.
True he has the insight of a goat, baaah. He's all marketing, hype and image. Unclear how he became any sort of business guru. He's just some social media marketing influencer - caveat emptor
Word.
@@z5m2thank you for being one of the few to be willing to use their brain. I'll tell you how he became successful...MLM..aka a legal pyramid scheme. PHP Agency. In other words, he took advantage of financially desperate and vulnerable people. One of the biggest grifters out right now on the business side of social media.
@@z5m2he owned and sold an insurance company for a few 100 million. He is also a minority owner of the New York Yankees.
21:50 Artificially cheap money
26:00 Ticking time bomb
28:50 Unstable economy
32:00 CC debt and 23% interest rate
36:00 *Reverse market crash*
38:00 Money flows up
43:00 Forestalling catastrophe
46:30 China vs India
56:00 Only the paranoids survive
1:01:00 Non duplicatable assets
1:13:00 Covid
1:25:00 Selling America
1:46:00 Why create content when rich?
1:50:00 Rich people are greedy, poor people are lazy
1:57:45 Don’t be timid
1:59:00 Top 5% pay 80% of taxes
Such a great soul!
2-3 years ago, after watching and learning from Valuetainment for a few years, I had my mind blown when I learned PBD was only 42 at the time. I watched him for years and never questioned his age. PBD JUST turned 45 last month. This guy has some serious wisdom about him. He's always a great guest. Pumped to watch this, Tom.
Cause PBD is a con. Had you fooled simply on his age.
He is a serious scammer
Haha wtf@@CoolestGuyInTheRoom
lol haha
I know me too. It’s hard to believe he’s just a few years older than me.
Interestingly PBD is one of the greatest Americans. Kudos for inviting him!!
What's interesting is here PBD talks about how hard things are becoming for the average person, but on his own podcast he tells people if they're not rich it's because they're not working hard enough lol
BUILDING WEALTH INVOLVES DEVELOPING GOOD HABITS LIKE REGULARLY PUTTING MONEY AWAY IN INTERVALS FOR SOLID INVESTMENTS. FINANCIAL MANAGEMENT IS A CRUCIAL TOPIC THAT MOST TEND TO SHY AWAY FROM, AND ENDS UP HAUNTING THEM IN THE NEAR FUTURE. PUTTING OUR TIME AND EFFORT IN ACTIVITIES AND INVESTMENTS THAT WILL YIELD A PROFITABLE RETURN IN THE FUTURE IS WHAT WE SHOULD BE AIMING FOR.
Assets that can make one successful in life
1.forex
2.stocks
3.shares
Natural, there's a lot of math involved in forex trading. but this is often presented in forms of daunting technical charts, indicators, patterns.
Trading systems allow you to limit the factor of emotional influence on decision-making, as well as to give the trade a certain degree of systemic character.
People are really making a lot from it! So investing in it wouldn't be a bad idea 💡
Seriously, this is the best episode yet. This discussion is so important! I hope many people watch this video over and over.
Tom I loved your desire to fly an American flag! I came to this country as a five year old and share the same sentiment, growing up in the 80’s, we all loved America 🇺🇸 that’s what united us!
PBD is amazing, nice to see him on this podcast besides his own.
You humans, always looking for someone to worship...
The second part was just beyond AWESOME! 💯
What Patrick said the last half of the video brought me to tears. God bless him and God bless the USA!
BTW, if you're going to deny what you said, you might ought to edit what you said.
Tom sounds like a very, very smart individual by allowing staff to come to him when they disagree.
No ego about biz decisions Wins.
This guy is smart, thank you for letting him talk!
Thank for you listening! We hope you enjoyed the conversation.
Best,
Impact Theory Community Manager
@@TomBilyeu you really should do better background check on your guests. 🫣
This guy Patrick ran a sleazy MLM life insurance scheme where 95% of the licensed sales agents make less than a minimum wage worker making $7.25hr while he paid them the lowest commissions in the industry and required them to constantly recruit new people to charge them $200/ea to get licensed!
I really enjoyed this conversation, thank you very for hosting this. You are inspiring sir!
1h11 is spot on. If you're a real man, having kids lights a fire under you like nothing else will. You will find a way to make it happen when you have a family depending on you. One of the greatest lies that people in the modern world have fallen for is that you need to wait until you're "financially solid" before having children. No. Have kids and do whatever it takes to support and protect them without taking handouts or breaking the law. That's the true measure of a man.
Patrick is a genius 👏 thanks for inviting him!
Thank you for your support!
Best,
Impact Theory Community Manager
PBD is the man. This was the best episode you have had in a while Tom. So many topics covered ! Thank you
Under every episode someone write this.
It really shouldn't matter if the market crashes or not. Its supposed to be a chance to buy more, for those who know where to look. Only fools sell during a market crash. My work colleague accumulated over $1.8m in profits alone during the last crash and even pulled it off with ease in a bad economy. Matter of fact, I am so looking forward to the crash.
I agree Jesss. This is why I rely on an investment advisor for my daily decisions. Their expertise in long and short strategies, coupled with risk management and exclusive analysis, ensures substantial returns. Since the pandemic, I've gained over $1.5 million through subsequent investments, benefiting from their approach.
@josephbush Mind if I ask you to recommend this particular coach you using their service?
Found her, I wrote her an email and scheduled a call, hopefully she responds, I plan to start 2024 on a woodnote financially. Thanks a lot for sharing.
Scam
I read an article years ago, I wish I could remember the numbers, but the Chinese govt have splashed out on stocks after every crash last 20 years.
Forex trading is the best investment one can do right now though stocks are good but ever since I swapped to Forex trading , I've seen so much difference
HEY PACHECO... I’m interested I want to move to forex can you help me trade?
sounds great! please I will appreciate your assistance on how to go about it, who's your broker and how good is your broker
I'm so glad, thank you so much! I'm gonna write to him right away
Forex trade is one of the best ways of paying bills which also creates opportunities for those who invest in it with a good management
I have heard a lot about investing with John Hook, to me this is a great prove showing he has a good strategy
Hi Tom, I think you’re here for such a time as this our country needs YOU to take a stand for our country and communicate in a way that our youth and everyone can understand what we have to lose if we don’t stand for America being great!
This is the best podcast you’ve done. Thank you so much!!! for talking about these complex issues, enlightening.
If not, now, when? ❤
Everyone has been preaching "buy now, stocks are at a discount" but I've been buying stocks since the beginning of the year and yet nothing's changed, but I've been reading articles of people still in the same market pulling off over 350k in just a couple months, what am i doing wrong?
You’re right! The current market might give opportunities to maximize profit within a short term, but in order to execute such strategy , you must be a skilled practitioner.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
There are a lot of independent advisors you might look into. But i work with. “Meghan Maureen Kristensen” and I have been working together for nearly four years, and she is excellent. You could proceed with her if she satisfies your discretion. I endorse her
There are a lot of independent advisors you might look into. But i work with. “Meghan Maureen Kristensen” and I have been working together for nearly four years, and she is excellent. You could proceed with her if she satisfies your discretion. I endorse her
There are a lot of independent advisors you might look into. But i work with. “Meghan Maureen Kristensen” and I have been working together for nearly four years, and she is excellent. You could proceed with her if she satisfies your discretion. I endorse her
P.S. By the way, PBD is an incredible guest. Very grounded, very knowledgeable, always a pleasure to listen to
Morality equals Freedom! As morality increases, freedom increases. As morality declines, freedom declines. ⚖️
Satan’s work, I agree. Even the “professionals” can’t prove it wrong!
I have been watching both of you on your respective channels for the past many year. This was by far one of the most impactful discussions between two men with different perspectives. I am the 19th child of 20 kids. My father could not read and write and was a slave driver. Poor would be an understatement. The number of individuals that influenced my life were many but few helped change it. I watch you both because you expand my perspectives while seeking truths. Today was powerful hearing more about Patrick’s background and his evolution. Much L❤ve. Uel
Got a little awkward there at the end when they weren't hearing what the other was saying but came full circle and ended in smiles. Need more men like these two in America because thought leadership has been a vacuum for 25 years.
But Tom need to have kids because a man who are successful and choose not to have kids is equal to homeless man.
It did get weird toward the end when Patrick asked you do you have a podcast ? To become famous ?
@@MariaCibrian That was rhetorical. He knows Tom isn't doing it to become famous.
Patrick trying to say Tom is bigger than that, therefore, he (Tom) has so much to share and be proud of, to speak without fear as fact. Not to use preamble such as that he is not being political. That’s how I understood it.
@tgchikukwa6947 what?!?!
Watching the two of you talk, perfection imo. Love listening to both of your ideas and talking points
Why does this pod cast always play when i fall asleep???
It never fails. I never watched these guys in my life lol
The same thing happened to me 😂
This country needs more men like PBD. If more individuals had the character he possesses, we as a country would not be wavering. Thank you for this interview, awesome!
The dude is a conman! He doesn’t care about politics, hes using politics to get attention.
@@TheWholeDamnShow007 he served 4 years in the military for this country. Is that indicative of a con man who cares nothing about this country? Does a man who has 4 kids not care about the policies being implemented that will effect his children in the future?
@@TheWholeDamnShow007 please tell us more on why he's a conman. I'm open to learn.
@@products4less409 theres alot of politicians that served and are corrupt so dont overhype military people
@@products4less409 did you know he got a Dishonorable Discharge after being in the army for 1 -1/2 years?! Do some research. The man is a conman in disguise in a suit. I bet you also gonna believe he sold his MLM company for 400m too? Lmfao those are lies. Not gonna say he isn’t rich but he ain’t that rich, he’s painting this picture of himself as this super ultra rich entrepreneur and when the market crashes he’s going to push his MLM company’s mission ( that he stole from WFG ) and how it can save America.
I usually don't comment, but this was very strong. Real emotions and brings back some believe in a better future. Thank you guys.
My God Patrick is the most simplistic minded guy I have heard in a long time.
He's like a toddler describing the way the world works.
This was a legendary episode. Thank you both.
Absolutely informative
One of the best podcasts so far! Love it❤
I wish more people in the world would articulate their disagreements like these two men.
Master Class
I’ve never previously understood a lot of the topics discussed until now, fantastically explained, comprehensively and logically. Thank you.
great conversation, Pat's right we would love Tom to discuss whats happening out in the real world as well to hear his POV not beating around the bush and avoiding speaking his mind on real world issues
Mid-way through and I am blown away by the quality of this conversation, the free knowledge and the wealth of experience shared between these two guys. I have learned so much and I am extremely grateful for the perspectives on the things to come.
This was good. I feel we also need expose videos on "not a financial advice" RUclips influencers. 😆
Facts
I think everyone needs to be exposed….including PBD. Let’s research these people and ask tough questions. Remember they are making millions from us and we are just watching them talking lol
I've read that they are better equipped to look for opportunities in bear markets.
Being an investor is a lot of hard work you have to constantly be updated in the market and you sound like you probably don’t wanna do a lot of work because you’re close retirement so I would recommend investing in something like the Dow or the S&P they often outperform a lot of the big hedge funds. If you are really serious about investing you should read the intelligent investor by Benjamin Graham and then you should look at warren buffets annual meetings and get familiar with finance.
Close retirement, exactly. I don't have a lot of time on my hands but I have experience working with professionals like the family lawyer and our accountant.'Monica Mary Strigle My spouse is recently deceased so I am happy to hire services of an advisr with requisite skills and be sure I can conduct my due diligence properly.
I'm a fan of both Tom and Patrick. I'm thankful y'all did this video together. Thank you.
PBD thank you for saying what a lot of ppl are thinking. I almost teared up bc I could tell Tom was really hearing what you were trying to say. I used to watch this show a lot then dropped off bc something about the way it felt seemed...sterile? Idk. But he's right. You're not average. You've done some amazing things with your life and have some great ideas worth sharing and I hope you keep doing it. Thank you for letting us be a part of this. Much love.
The politicians who took bribes should be held accountable !!! Big time !!!!
All guilty so no one tells them
who will hold them accountable?
@@vbb4741 Democrat voters won't
Specifically, THE DEMOCRATIC PARTY. So you think they'll be returning any of the hundreds of millions in campaign contributions that SBF made to them??
Tom, thanks for having Patrick Bet David on your show. Patrick speaks for me. He has a ton of common sense and Wisdom.
Ok, cool.. instability hypothesis ' when the economy is stable, people get optimistic. When people are optimistic, people go to debt '
But, please tell us the in the same hypothesis the revers, meaning stability! 🙏 30:11
Civil discourse at it's finest. I'm grateful for both of you guys.
PBD really made Tom happy in this podcast ❤
The guest sounds DUMB - praising the NUTTERS llk Elon and Joe is ABSURD
Right now the markets are crazy but there are still hidden opportunities therein. Having monitored my portfolio performance return huge six figures from the last 2 quarters of last year, I have learned why the market will remain a money den for those who know where to look.
The markets are been propped up by the FED printing money with NO limit. Every time the Market blips down the FED dumps cash into the dip. Tbh I'm in need of a good investment plan currently, I have a lump sum of $100k+ in a savings account yielding next to nothing
Starting out with a with a professional that knows the ropes of the choppy but profitable market is the best way to achieve getting a well structured portfolio. That’s why I have been working with ‘Kate Elizabeth Amdall’ and that doesn’t make me daft because in financial dealings one have to be prudent. Most traders enter exit with a quick 10% profit which is not bad in a general opinion but why not aim higher, it doesn’t necessarily mean to be greedy.
i am approaching retirement & i think this is the last window of opportunity for me to become a millionaire before retiring, as Recessions and downtrands are where millionaires are created. Currently i have some lump sum in a savings account and will like to work with a fiduciary financial advisor to achieve my goals. Please how can i reach Corinne?
I just looked up Deborah on the net and scheduled a call with her. From my research, she seems very proficient so I wrote her detailing my Fin-market goals..
There are also hidden dangers. To think any individual can out-think 1000s of people working for hunders of investment companies / brokers if fools gold. You are better off becoming a congressman or senator and getting rich on insider trading there. the fact you americans tolerate that is simply fascinating... especially with morons like Pelosi and AOC being multimillionairs now.
1:35:52 Patrick hit the nail on the head. My father fought thru hell and brought us to America when I was a kid to give us the chance at the American dream. I served this country for 20 years in the military to give my respect to it just to have people shit all over it and it destroys my soul every day.
A M E N 🫡💪👍🤙
I'll say thank you for your service and your time. We respect our members fighting and defending our country. Stay blessed
so... we have free speech in this country snowflake
Thank you for serving our country 🫶🏽 and remember that there are still millions of us that appreciate and respect this country and your sacrifice. There are plenty of Americans that still hold American values, the other people are just louder.
Thank you for your service. It is appreciated. ❤
Patrick is a good story teller. Great insight
For sure. He's a great story teller! He takes information and makes it easily digestible through story. This conversation with Tom and Patrick is top notch.
Best,
Impact Theory Community Manager
Rich from Ponzi Schemes.
Thank you to both of you for the great informative video ❤
One of the best interviews ever! Thanks so much for the timeliness and relevance of the topics for our times
What a powerful combination, Tom and Patrick, this is a must watch
This is some of the best content and interview I’ve seen on the Internet bravo keep it up…
HA! Awesome Patrick, we do want to know more about what Tom thinks!
Love you both GREAT talk guys!
What bothers me about this situation is the fact that the news and media are all going about a recession which is understandable due to the war and pandemic but still the same media still publish articles about folks in the same economy pulling off hefty 6figure profit(Averg. 200k in barely 8weeks) in this downtrend how is that possible?
I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my portfolio for retirement. I'm seeking to invest $200K across markets but don't know where to start.
Having an investment advisor is the best way to go. Based on a direct encounter with a CFP named Kate Elizabeth Amdall, I can say with certainty that their skills are excellent. She helped raise over $580,000 in 18 months from an initially stagnant portfolio of $150,000
Fantastic! can u share more details?
Cant reveal much info, she is the shrewd advisor responsible for my portfolio success, it's only right you look her up and confirm yourself.
I'm definitely gonna check her out. Do yo have any idea if she manages family fund?
With so few stocks driving up the latest rally and the majority of "traders" looking to "get rich quick" as the shin comes off those profits, it's time to realize "you'll never go broke taking profits." Buffett is also selling! I'm still uncertain about selling my $200k portfolio, considering its recent significant decline.
Don't sell; avoid trying to time the market and incurring unnecessary taxes. Stay grounded and focus on the long term. Or just seek counsel from a market strategist.
This is why I've entrusted a fiduciary with my investment decisions. Many underestimate advisors until emotions lead to losses. My advisor crafted a tailored strategy aligning with my long-term goals, guiding entry and exit points for the equities I focus on. This has grown my portfolio to $880k, generating sufficient dividends for my household's needs.
The decision on when to pick an advisor is a very personal one. I take guidance from "Debra Ella Nicholas" to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net. `
Steady …… long term investing ……. stocks go up and down
This was an outstanding conversation, thank you guys 🙏
Thank you both for having the real, honest conversations we need!
@@Tom_Bilyeu..._FO
Is there a chance that what is holding the market up is speculations that the economic policies would be favorable going forward? I think it's important to stick to stocks that are immune to economic policies. I'm looking at NVIDIA and other AI stocks. Maybe there are other recommendations?
I bought into NVIDIA around September because my financial advisor recommended it to me. She said the company is selling shovels in a gold rush. It accounted for almost 80% of my market return this year.
That's a great analogy and I love the insight. Professionals could make a really big difference in investing, and I think everyone should have one. There are aspects of market trend that is difficult for the untrained eyes to see.
One of my goals is to employ the service of one next year. I've seen some off LinkedIn but wasn't able to get a response. Could you recommend who it is you work with?
Finding one requires some meticulous searching. I personally work with Sharon Count Louise, and she makes very excellent recommendations. You could check her out yourself.
What an amazing conversation by two interesting people. Really had me glued towards the end when Tom expressed himself and the response from Patrick. How they showed respect for each other speaking their own views and experience. This is how we all need to talk and learn from each other. After all this life is just an experience, each person has their own experience and just trying to tell the other their story, wonderful, thank you for sharing.
P.S. I feel if people wasn’t so patriotic about which part of the world they come from and embrace all places where ever they go their home.
Flora …. It is were not and not Was not… in your sentence: I feel if people wasn’t (The noun people is plural in this particular case as I assume you were referring to worldwide population)
Lol ok which one of you called the grammar police
Hey.... I just seen a liberal trying to defend the wrong and an honest guy saying that's not how it works. Maybe I'm wrong. Show me.
Love that tom just sits and listens.....Very valuable... info. Its so interesting hearing people be afraid to be patriotic in America. Its the most sinister thing to make people feel like they will get in trouble for loving their country.
What a conversation. Did not disappoint. Thank you.
I subscribed as soon as I watched this. Loved PBD for 5 years or so, but this sit-down was fantastic. Thanks for the knowledge gents
Thanks Tom, you're amazing as always, PBD grateful for people like you guys, God bless, keep up your enlightening work🙏🏽
Das
This was amazing to witness! My favorites & hopefully they do this again soon!!!
Best interview ever!!!!! Patrick is right, never hold back on being a patriot!!!
PBD is a NATIONAL HERO... Good on you Tom for having him on and being so open minded
I'm sick of this mundane conventional knowledge, guys. Head to Borlest and read the forbidden books, only then will you truly gain knowledge about money
What are you talking about dude? 😅
For me is interesting to hear common people that have become rich to talk about businesses from their point of view because I really think is a reflection of the reality of the common entrepreneurs.
@@juanmaldonado4193
@@juanmaldonado4193 It's a lame bot advertising some dumb ebook. Can you imagine the absurdity of banning an ebook? lol
Money is boring...Jesus is better. You can not serve 2 masters. Mammin or Jesus. Pick one. Psstt. Jesus is the way.
I am a huge fan of PBD and his work. I didn't think it was possible to gain more respect and admiration for him than I previously had. His summary at the end of this interview took my reverence for his gifts to a whole nother level. This man is a gem!❤
@@Jake-uh3chmostly liberals who can't stand him exposing them with common sense. Just saying.
bro he literally ran a pyramid like scheme to get rich, and say you can't respect him anymore?? low standards my guy, this dudes a dickhead.
He's running a pyramid scheme.
Fantastic Episode! I really like how both can take feedback from each other and be so understanding at the same time. Now a subscriber 😊
Welcome to the community! Thank you for your support. We're glad you enjoyed the conversation. Check out our channel for a ton of other great content.
Best,
Impact Theory Community Manager
This is my first time listening to anything even remotely like this. This was unbelievably eye opening but so awesome to hear healthy dialog on so many levels, finance, politics and cultural issues. Both of these men are awesome. Keep it up.
Patrick, always great content. Love PBD
The market trend can turn around very quickly. In fact, the indexes often switch from a bear market to a bull market when the news is at its worst and the mood of investors is at its lowest point. I read an article of people that grossed profits up to $150k during this crash, what are the best stocks to buy now or put on a watchlist?
Investors should be cautious about their exposure and be wary of new buys, especially during inflation. Such high yields in this recession is only possible under the supervision of a professional or trusted advisor.
True, initially I wasn't quite impressed with my gains, opposed to my previous performances, I was doing so badly, figured I needed to diverssify into better assets, I touched base with a portfolio-advisor and that same year, I pulled a net gain of 550k...that's like 7times more than I average on my own.
@@PhilipDunk I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
@@PhilipDunk Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
You got you head DEEP IN THE SAND!!!!
This is amazing!!!!! I can not thank you both enough for having this conversation. It has changed my trajectory in life. It actually gives me the direction I’ve been looking for. Coaching people out of poverty with the skills needed to succeed in our economic climate rings loud with me. Going up against traditional education systems is paramount. Didn’t I hear Vishon, from Mind Valley, say he wants to reconstruct the education system? Vishon is on the right path. Now…..how can I help? What skills do I need to bridge that gap?
Agree 💯 🔥
Excelent interview! And PBD,...we need more people like him.
I absolutely love the perspective that Patrick can bring to this conversation. America is the greatest country and we have to realize that it can be destroyed from within. We need the courage and faith to stand up to keep it great. How do we stand up? Learn, build, share and teach. Phenomenal interview!
I’ve been following PBD for a couple years and I’m glad he’s expanding and sharing his book and his mind to others if it’s your first time hearing this man you gotta give his podcast a listen 💪🏽
@@Tom_Bilyeu..._eh....
NA....
It's just too bad I haven't seen him make an accurate prediction yet. Though a broken clock is right twice a day, so if he keeps up the doom and gloom he will eventually be right for a year or so.
@@Ironmike341 eh it’s just a perspective thing I don’t necessarily agree with everything but odd things do line up like clockwork
@@metalchu correlation does not equal causation
I respect and admire Patrick Bet David. Hard to find a man of honor, smart, admirable and upstanding man, as well as his smart @PBD associates. Together form are a great team! (E.)
Great episode. Love these guys!
Thank you for your support!
Best,
Impact Theory Community Manager
Amazing, amazing, the best podcast I've ever seen. Congratulations.
Hit 200k today. I'm really grateful for all the knowledge and nuggets you had thrown my way over the last months. Started with 14k in June 2022
How please? Am a newbie in crypto investment, please can you guide me through on how you made
Mrs harriet dixson service is a talk of the town in North Holland Netherlands , I started with a little amount of 1ETH, and she made huge returns, and I have been constantly investing with her
Please educate me, l've come across this name before and Now I'm interested, how can I connect with her?
@@Michael12627she often interacts on Telegrams, using the user below
@Harrietdixson12
Thanks for having Patrick on your show, he is the best,love all his own shows.
One of the best interviews I’ve ever seen on this platform
Patrick Bet David is the Goat. You are getting some amazing guests On Tom. Great work mate. Thanks
I love the way Tom handles topics he doesn't want to get into. He validates the question/statement with a close ended statement, then pivot. 17:05
All the time.
The market has not crashed yet because you keep predicting that it will crash. So, it does the opposite. So, keep on selling and fueling the awesome fire. That is good for all our portfolios. Thanks!
PBD trying to convert Tom to say what he really thinks rather than being PC, LOVED this podcast. That said Tom has come a long way into broadening on his guests which I truly appreciate
Fact that PBD remembers all of these numbers off the top of his head is crazy
It’s not off the top of your head if you are reading about it every day. It’s no lt research , it’s life
@@niall86facts
I was thinking the same thing. Its hard !
It is his job. He is an insurance guy. That’s economics, trends, valuation and risk. It is his arena.
He's reading his cue notes.
5:12am Australia
Omg what a amazing interview ☑️
Great talk Patrick 🎉 you opened my eyes to more of the world
Speaking from a $900million net worth of experience, new or existing lnvestors that wants to get so rich just needs to learn how to diversify their investment portfolio. Like spread your investments across different asset classes to manage risk. Then with growth strategy, focus on capital appreciation through high-risk, high-reward assets. With Income-oriented strategies, target regular income from dividend stocks or bonds. Works like magic!
EXACTLY! And its not even as difficult as many people presume it to be. It just requires a certain level of diligence, no doubt, which is something ordinary investors lack, and so a financial advisor often comes in very handy. That is how people are able to make huge profits in the market.
I completely agree, this is why I give a licensed coach control over my everyday investing decisions. Their proficiency in research, specific knowledge, and risk management makes it difficult for them to deliver below expectations. They emphasize minimizing drawbacks while maximizing risk's asymmetrical potential. I have more than two years of investing coach experience, and I have made more than half a million$.
@albatkobe The adviser that guides me is HEATHER LEE LARIONI. She works with Empower FinanciaI services near my old office so I see her often to discuss my business. There are a lot of independent advisors you might look into. But for me, her strategy works hence my result. She provides entry and exit point for the securities I focus on