There's a scammer impersonating me in some of the comments. I've tried to remove all the comments but the person keeps posting. Please be careful. Know that I do not and will not give my contact info in comments and ask people to contact me.
Emmet Pepper's Investment & Trading Philosophy 1. Detachment from money. Emotional attachment to money for feelings of security, comfort & survival can hinder people from taking the calculated risk necessary to make and grow substantial gains. 2. Probabilistic Thinking. A default approach of viewing investing outcomes through a blended view of weighting scenarios with varying odds and probabilities, rather than a binary of up or down for a stock price. 3. Incentives, Empathy & Psychology. What incentives do company leaders have and how is that likely to affect the future trajectory of their companies? What incentives do traders have to buy or sell a stock based on short and long term factors? Put yourself in their shoes. 4. Simple action for large opportunities. Developing awareness and insight of outsized gain opportunities, from probabilistic thinking coupled with taking simple bold action on those insights rather than busying yourself with many mediocre opportunities. 5. See the world as it is rather than how you want it to be. See "what is" and reverse engineer why that is, rather than willing the market to follow certain rules of how things should be valued.
Thank you for making these videos! For a long time, I thought it was crazy for the way I thought about companies - it’s been really nice to find a community that shares my thoughts or methodology of looking at the world in general
It’s great that Dave has documented Emmet’s trade and thoughts in real time. If Emmet’s trade works out, and I believe that’s likely, this video documentation will be special.
@@ken-mb5cp It doesn't quite work that way as there's a time factor. Right now, Emmet is already up about 4X (I think that's what he said) and he could look to sell right away and bank that profit. Over time, the stock will have to increase in price to keep or exceed his current paper gain. At expiration, the stock price has to be greater than the strike price ($700) or the options will expire worthless, and Emmet will lose his entire investment.
@@dksculpture Im curious the thought process of possibly selling off 1/4 of his position since he currently has 4X his initial investment, recoup his initial investment and let the rest ride.
@@phaattran he pinned his comment about a scammer impersonating him. Dave doing the right thing 😁 Everyone like this comment of his so it stays at the top
Thanks Dave for all of your videos. They have been so helpful and inspiring. Been binge watching so many of them! These discussions with Emmett have been some of the best. Decades of knowledge and experience and wisdom being shared.
I didn't really like this channel when I found it a year or so ago. But it grew on me and now I really appreciate it, since this investing philosophy and honesty resonates closely with my own approach.
Great video! I love your talks with Emmet. Very reflective and insightful! I hope the next talk is just around the corner? Can you please elaborate on different exit scenarios for options like the one discussed in your next video? Would really like to understand your thinking about when to sell and how many of the options. Thanks in advance!
Best video yet. You are challenging beliefs that have been accepted for centuries, and asking why. I really appreciate that. It's something we need to do in finance, education, relationships, and even our personal belief systems. I'm a psychologist and am thankful everyday that I get to do that for a living.
Great to see natural conversations between two incredibly smart people. Many investing channels are now narrative based and all about optimizing their content to get maximum return on RUclips algorithm. I don't normally go for long form videos, but there is at least 100x more value in watching an hour of Dave and Emmet talk than an hour of RUclips algo optimized fluff!
Another excellent video. Maybe one of your best videos that I have seen so far. Thanks for accepting viewers' advice and not being long winded in your questions. You choose great guests. They have a lot to say. Let him say their things. Then you can make a video after that and say what you have to say. Your viewers will appreciate it.
I had to save this in my “Stoicism” playlist to watch again down the road. Thank you Gentlemen for the great talks and teaching us things that the schools haven’t. 🍻 to many more of these lessons.
This was gold! I loved some of the investing insight. Emmett’s point about ‘reverse engineering other peoples views’ really resonated with me. I also have a friend who plays professional poker and the ‘detachment from money’ was something he clearly learned on his journey to achieving that.
Another nice one Dave, i cant help but think "man, this guy is kinda creepy" :) You both achieved 100x, it took you 8 years and Emmet 1 year, it is like climbing a hill, you chose a safe but slow route and he picked a steep and dangerous path. You differ on a lot of things but you agree on the most important thing, the hill.
Dave and Emmet, thank you both for continuing these conversations. I am really enjoying following along with the trade, in addition to all the other things you explore along the way. Long term investor, tesla shareholder and owner. 🙏🏻🙂
The answer to the question 3/4 through is multi faceted in my opinion. I would call it intuitive, intellectual risk tolerance. Poker players like myself and Emmett understand the mathematical odds of success in a given hand and make decisions based on those. This allows you to know your chance of success on any given hand, per level, which bets will be based on. I'd say the biggest take away is that extremely few people are able to beat the market individually and those that do think differently than even the most intelligent analyst's. Tesla is a good example of this historically. The people that saw the potential vs those that only focused on the numbers and apply them with the assumption it's just a new auto manufacturer.
The best part I like is how you come out Emmett psychology process: detached, probability processing, big picture from puzzle, betting on odds from gamblers intuition. I feel another important one is after all processing, he could take bold action promptly. Thanks for both of you sharing this. It doesn’t matter win or loss on the SP betting, we enjoyed the process and learned huge already. 🙏
I used to gamble. When you play black jack, you have to bet on even bet on 50/50 chances or less. Casino also add you side bet on lucky lucky. You bet on like 10x rewards on 1/1000 odds. Emmet assumptions on SP sounds very valid for me. If you have a 25% chance to win 10x by risking 10% capital, I will definitely make the same bet. If you could calculate the Kelly number properly, maybe bet 30% of total capital is okay ✅
The psychology behind the market as a whole, in my opinion, is equally important to other metrics such as the political climate, interest rates, world events, etc. Thank-you for delving into it.
Love the end when you're talking about not being the Tesla expert. I'm watching and reading as much as I can on Tesla trying to make sure my thesis is still alive. Like you said Dave, I'm researching constantly to build the conviction in the long game so I don't take profits too early. My friends are constantly asking when I'm going to take profits.
Wow, I like Dave's observation that the best day trader makes more money from selling courses/books than trading. This is so accurate for so many "how to make money classes". Thanks for bringing Emmet and for all your video. I'm so appreciate your content.
The key to Emmet's success is "metacognition", a term I discovered when reading a book about how IBM got their Watson AI to beat previous champions in the game show, Jeopardy. It's the ability to know the level of validity of one's own insight and the insight of others. Not to say that unforeseen events can't come out of right field to ruin a thesis, but that's just a universal dilemma of existence you can never calculate, so he doesn't let that short-circuit him. Good luck Emmet!!
Hey Dave, I’ve been subscribed to your channel a few months now. Ever since then I have taken some advice from you and has helped me make good decisions on investing. Thank you for the great content.!
great interview!! Love the insights on what you think made Emmet unique. Of course it sounded obvious once you said it but that's exactly it. It's not meant to be something easy to replicate otherwise anyone else can do it. Great insights and conversation.
Super valuable Dave and Emmet! Thank you! Dave I totally get your comment about options for income and how it becomes a job. It fits the usual lifestyle box, so people "get it" even tho they want to get away from that lifestyle.
The whole time through these videos I’ve been wanting to scream at either of you to mention the book Anti-Fragile by Nassim Nicholas Taleb. It talks precisely about philosophy around small bets for large gains with options, how to build a portfolio around it, and how to think about investing overall with this mindset. I highly recommend looking into it and the rest of his books (black swan, fooled by randomness especially) for an amazing debunking of conventional Wall Street wisdom
On risk: I had about $90,000 in my ROTH managed by Fidelity. Sept. 2019 I refinanced my house from 15yr mortgage to a 30 year taking money out to buy my model 3 dual motor and FSD. I am vision impaired, legal to drive. The car has improved my life more than I can put into words. I then started learning about Tesla and after studying it while experiencing the cars impact on my life I took about 47,000 from my Roth and put it into another Roth. 50% I put into Tesla, not all at once, but an average after split price of $70. I am now almost 69 so while I’m committed to long term, that is like 5 years. I have MS-CPSC degree and worked on real-time Unix and other OS’s making a good 6 figure income in 2000. I was mugged and forced out of work in 2004 and due to preconditions I did not receive long term disability. If I should today pay off my house and place the balance in a stable fund I could live on about $55,000 a year tax free (love the Roth) but I am looking to wait a while before taking action. I have been mentoring x-cons trying to help them become successful. The point is $$ not so important for me but I can use it to help others. What is important to me now is how I spend what life I have left. I have learned money does not bring happiness or joy, but how I spend my life does. You see my plan and hope I have not waisted your time if you should read this. Any thanks for your teaching insights!
There is so much learning in these conversations, so much more beyond just Tesla, Stripe, 10x-ing .. love it an look forward to the next one an many more..
Emmett’s investment insights: 1. Detachment to money: giving you psychological strength 2. Probability view to world events: a trait common in to investors such as Buffett and Nick Sleep 3. Market Psychology understanding: money and stock market are games of psychology. Probably a lots of things involved human are games of psychology 4. …
Breadth is probably the best point. That makes a lot of sense. In my MBA program there were definitely guys who were better at finance than I was. That said, I bet my more varied skills have made me a better investor.
I made lots of investing mistakes listening to the "experts" on CNBC especially the head clown Jim Cramer. Investing seems to be counter-intuitive, doing the opposite or staying convicted when everyone is saying to run. Awesome channel and content Dave. Congrats on 201!
Simple rules: When the market crashes: Buy. When Tesla crashes: Buy. When a tech/EV/dream stock has as IPO: Buy, and sell after its up 20% within a few days.
These types of events reminds me of a recent move I did when I heard about a monumental acquisition, Salesforce acquiring Slack, so I sold slack on the news and bought into a cloud stock in a related space because of the typical occurrence of acquisition excitement, so I noticed Dropbox didn't rise much yet and bought Dropbox stock and options on this thesis, so far it is playing out well and as expected.
Thank you to Dave Lee & Emmet Peppers for sharing. Holding all my TSLA for long-term per ARK Investment's Cathie Wood's long-term price targets. Can Emmet share his thoughts on BTC (bitcoin) & ETH (ethereum)?
Fantastic, discussion. Emmett’s strategy can’t be taught in an on-line tutorial, it is more mental than anything else. The detachment of money is critical- when you buy options, you got to be willing to accept losing it all. Options is all psychological, you get to decide the balance of risk vs reward- how long are you willing to ride the bet before time decay takes over and you reach the point of no return.
You videos saved me from losing thousands on a single TSLA call I wrote last Monday. I picked 530 as my strike price and while its come back down a little bit now. I was looking to lose ~5k (50*100) on the upside. Sure I got my premium of ~4k from the 485 price. So Monday afternoon I bought my call back at a loss of ~2k as I didn't want my shares called away. Going to be much more careful picking strike. I was after the premium, but was going to lose my shares and I rather hold.
I wanted to say that is was Emmets strong convictions on TSLA that made me realize I made a HUGE mistake. I'm a TSLA fan too of course, but Im overweight and was looking for a way to profit while I exit a little. Even though its 20% of my portfolio Ive decided too hold longer since TSLA is so unique.
Mr Peppers should not be doing RUclips videos :-) He should be somewhere on a private island sipping some tropical drinks and enjoying time with his family. Incredible returns WOW.
margin vs profits - basics of P&L - reading/understanding SEC documents. - those who can do, those who can't teach - hello Dave. great advice about starting slow so your mistakes/misfortunes don't bury you.
Great video Dave. I know Emmett mentioned poker was one of his hobbies. Being an avid poker player myself, I would say the game has definitely helped me with the analytics and psychology aspects of investing. And a great way to sharpen those skills.
Very interesting to highlight the distinction between people than put together well sounding stories and people that are on the quest for truth. Very different endeavours, and performance track record is a good demarcation metric on the long run.
@@RameshRamloll Depends where you live, family situation, and your ability to be happy without a giant car and house. Personally $800k will put me over this threshold.
@@udishomer5852 Oh I can be happy with a little car and house... but health care costs when one gets old sky rockets ... I think. At least this is what it looks like here in Pennsylvania.
Great discussion . We’ve learned a lot from this. I hope to see more videos of the same in the future . It’s big help especially for us new in the market. Thanks Dave / Emmet.
I’ve been saying this move in Tesla will continue to go up. This has nothing to do with valuation or technicals. This is simply supply and demand, and we know the actual date. These shares need to be bought on an exact day. This is a black swan event. I’ve never seen anything like this in 22 years of investing. I still say Tesla could hit 700-800 a share by December 21st.
The points Dave made about why Emmet has had unusual success in the markets are the identifiers of a successful poker player. I know from experience, that I took my experiences from playing poker into the stock market, and they have served me very well. The keys are playing with the odds always in your favor. You have to be able to see clearly when the odds are stacked in your favor, and play big on those odds, while maintaining a relatively low level of overall risk to your entire portfolio. In Emmet's case, and in my case, we bet big on the odds of TSLA eventually becoming one of the largest companies in the world, and that played out faster than we could have hoped for, with lots of upside headroom left over.
There's a scammer impersonating me in some of the comments. I've tried to remove all the comments but the person keeps posting. Please be careful. Know that I do not and will not give my contact info in comments and ask people to contact me.
Hey. Could you make a video about MindMed ? i think this has a lot of upside potential. it offers new solutions to mental health problems
Hi Dave, yes the scammer sent me a WhatsApp number, you can see it on my comment, I just reported them 😊
Yes thanks for the heads up i got a scammer who gave me a what’s app number. Wow i actually thought it was legit too.
Sorry Dave. Hopefully they find something better to do in the near future.
That’s crazy. RUclips should do something about that
My comment for Emet is that he has mastered the concept of fear. He recognizes fear but he is not ruled by it.
Love these discussions with Emmet. Thanks for all the work in making these video, Dave. Congrats on 201!
Much appreciated!
So does he think it’s still going thousand ?
Emmet Pepper's Investment & Trading Philosophy
1. Detachment from money. Emotional attachment to money for feelings of security, comfort & survival can hinder people from taking the calculated risk necessary to make and grow substantial gains.
2. Probabilistic Thinking. A default approach of viewing investing outcomes through a blended view of weighting scenarios with varying odds and probabilities, rather than a binary of up or down for a stock price.
3. Incentives, Empathy & Psychology. What incentives do company leaders have and how is that likely to affect the future trajectory of their companies? What incentives do traders have to buy or sell a stock based on short and long term factors? Put yourself in their shoes.
4. Simple action for large opportunities. Developing awareness and insight of outsized gain opportunities, from probabilistic thinking coupled with taking simple bold action on those insights rather than busying yourself with many mediocre opportunities.
5. See the world as it is rather than how you want it to be. See "what is" and reverse engineer why that is, rather than willing the market to follow certain rules of how things should be valued.
👍
This is awesome. Thanks. Saving it.
Great statement by Emment, "Be able to identify the smartest people in the room".
Today I realized Dave is one of my mentors.
and a very exceptional one at that!
lol @ copying my comment, but glad you feel the same way 😬
Emmet is super humble. great conversation again. Appreciate the work Dave!
Thanks again!
Thank you for making these videos! For a long time, I thought it was crazy for the way I thought about companies - it’s been really nice to find a community that shares my thoughts or methodology of looking at the world in general
You are so welcome!
Love these talks with Emmet! Learn so much from you both. Thanks for putting this out there and for educating people.
Glad you enjoyed it!
One of the most insightful interviews I've seen. Thank you for letting us be part of this conversation.
So much knowledge & wisdom in this video. Thank you Dave & Emmet!
One of the best videos on RUclips on investing. So many gems.
It’s great that Dave has documented Emmet’s trade and thoughts in real time. If Emmet’s trade works out, and I believe that’s likely, this video documentation will be special.
Headline news
Does Tesla stock just have to hit 700 for him to win?
@@ken-mb5cp It doesn't quite work that way as there's a time factor. Right now, Emmet is already up about 4X (I think that's what he said) and he could look to sell right away and bank that profit. Over time, the stock will have to increase in price to keep or exceed his current paper gain. At expiration, the stock price has to be greater than the strike price ($700) or the options will expire worthless, and Emmet will lose his entire investment.
I got help from expeditetools,com financially .They got me a transfer of $28,000 just yesterday .
@@dksculpture Im curious the thought process of possibly selling off 1/4 of his position since he currently has 4X his initial investment, recoup his initial investment and let the rest ride.
If you've only got 15-20 minutes, check out the section starting 50:35 timestamp (What’s the key insight that allows your brain to find opportunity?).
nice!
Incredible insight. Thanks Dave!
U should pin this comment @Dave Lee
@@phaattran he pinned his comment about a scammer impersonating him. Dave doing the right thing 😁
Everyone like this comment of his so it stays at the top
@@perfectlyuncomfortable3333 can't u pin more than 1 comments?
Thanks Dave for all of your videos. They have been so helpful and inspiring. Been binge watching so many of them! These discussions with Emmett have been some of the best. Decades of knowledge and experience and wisdom being shared.
I didn't really like this channel when I found it a year or so ago. But it grew on me and now I really appreciate it, since this investing philosophy and honesty resonates closely with my own approach.
Love your videos, Mr. Lee!!! As a TSLA long and employee, I truly appreciate your videos and knowledge.
Great video! I love your talks with Emmet. Very reflective and insightful! I hope the next talk is just around the corner?
Can you please elaborate on different exit scenarios for options like the one discussed in your next video? Would really like to understand your thinking about when to sell and how many of the options. Thanks in advance!
Thank you, Dave, for interviewing Emmet, and thank you, Emmet, for being so open honest direct 😊
Thanks so much for putting this online. Very cool stuff.
Glad you enjoyed it!
Really enjoy the conversation, Dave and Emmet has great chemistry together, looking forward more episode, thanks.
These video's only keep getting better. This one was a real masterpiece. Thanks for sharing your insights Dave and Emmet!
Glad you enjoyed it!
Best video yet. You are challenging beliefs that have been accepted for centuries, and asking why. I really appreciate that. It's something we need to do in finance, education, relationships, and even our personal belief systems. I'm a psychologist and am thankful everyday that I get to do that for a living.
Great to see natural conversations between two incredibly smart people. Many investing channels are now narrative based and all about optimizing their content to get maximum return on RUclips algorithm. I don't normally go for long form videos, but there is at least 100x more value in watching an hour of Dave and Emmet talk than an hour of RUclips algo optimized fluff!
Another excellent video. Maybe one of your best videos that I have seen so far.
Thanks for accepting viewers' advice and not being long winded in your questions. You choose great guests. They have a lot to say. Let him say their things. Then you can make a video after that and say what you have to say. Your viewers will appreciate it.
Thanks Dave and Emmet for your time. Learned a lot from your conversation.
Two incredibly smart people sharing incredibly valuable information. Thanks!
Glad it was helpful!
I had to save this in my “Stoicism” playlist to watch again down the road. Thank you Gentlemen for the great talks and teaching us things that the schools haven’t. 🍻 to many more of these lessons.
I patiently watched the whole 1:11:35 long video because it was full of wisdom same as previous videos. Thanks a lot Dave and Emmet for your time.
Great discussion! Love these chats!
One of my favorite videos, Dave! Listened to it twice
This was gold! I loved some of the investing insight. Emmett’s point about ‘reverse engineering other peoples views’ really resonated with me.
I also have a friend who plays professional poker and the ‘detachment from money’ was something he clearly learned on his journey to achieving that.
Another nice one Dave, i cant help but think "man, this guy is kinda creepy" :)
You both achieved 100x, it took you 8 years and Emmet 1 year, it is like climbing a hill, you chose a safe but slow route and he picked a steep and dangerous path. You differ on a lot of things but you agree on the most important thing, the hill.
What a great guest, I'm so inspired by Emmet and appreciate this channels style.
Subscribed :-)
Dave and Emmet, thank you both for continuing these conversations. I am really enjoying following along with the trade, in addition to all the other things you explore along the way. Long term investor, tesla shareholder and owner. 🙏🏻🙂
The answer to the question 3/4 through is multi faceted in my opinion. I would call it intuitive, intellectual risk tolerance. Poker players like myself and Emmett understand the mathematical odds of success in a given hand and make decisions based on those. This allows you to know your chance of success on any given hand, per level, which bets will be based on. I'd say the biggest take away is that extremely few people are able to beat the market individually and those that do think differently than even the most intelligent analyst's. Tesla is a good example of this historically. The people that saw the potential vs those that only focused on the numbers and apply them with the assumption it's just a new auto manufacturer.
Love the emmet interviews.
I appreciate you Dave!
Dave,
You are very smart. You got it. He is very detach to money.
I love you guys conversations.
Thanks.
That was excellent, learned a lot about the mind of Emmet Peppers. Thanks.
Thank you David! I learn so much from watching your videos best teacher i ever had. Keep up the great work and GOD BLESS.
Welcome to Narrative Fallacy the Podcast. Very easy to tell a story after the fact, whether it has anything to do with reality is unknowable.
Really appreciate the conversation. So rare these days.. Wish I had ur guys' discipline
The best part I like is how you come out Emmett psychology process: detached, probability processing, big picture from puzzle, betting on odds from gamblers intuition. I feel another important one is after all processing, he could take bold action promptly. Thanks for both of you sharing this. It doesn’t matter win or loss on the SP betting, we enjoyed the process and learned huge already. 🙏
I used to gamble. When you play black jack, you have to bet on even bet on 50/50 chances or less. Casino also add you side bet on lucky lucky. You bet on like 10x rewards on 1/1000 odds. Emmet assumptions on SP sounds very valid for me. If you have a 25% chance to win 10x by risking 10% capital, I will definitely make the same bet. If you could calculate the Kelly number properly, maybe bet 30% of total capital is okay ✅
Yes, agreed!
Emmet's analysis are so accurate and that resulted incredible performance. Thank you guys.
Wow, great video Dave & Emmet. Watched every second.
Glad you enjoyed it
Yes, watched every second
The psychology behind the market as a whole, in my opinion, is equally important to other metrics such as the political climate, interest rates, world events, etc. Thank-you for delving into it.
Stellar job probing into the mind of Emmit, Dave. Proves how extremely insightful you are.
Love the end when you're talking about not being the Tesla expert. I'm watching and reading as much as I can on Tesla trying to make sure my thesis is still alive. Like you said Dave, I'm researching constantly to build the conviction in the long game so I don't take profits too early. My friends are constantly asking when I'm going to take profits.
Amazing and very informative conversation btw emmet and Dave, thanks guys people could learn so much just listening to you guys talk 👍
Glad you enjoyed it!
Never seen such a profound mix of mental and fundamental analysis of investment behavior. Dave, you are something else! Big love, thank infinitely
Wow, I like Dave's observation that the best day trader makes more money from selling courses/books than trading. This is so accurate for so many "how to make money classes". Thanks for bringing Emmet and for all your video. I'm so appreciate your content.
Starting with a great idea, assigning it with probability and back it up with appropriate actions
The key to Emmet's success is "metacognition", a term I discovered when reading a book about how IBM got their Watson AI to beat previous champions in the game show, Jeopardy. It's the ability to know the level of validity of one's own insight and the insight of others. Not to say that unforeseen events can't come out of right field to ruin a thesis, but that's just a universal dilemma of existence you can never calculate, so he doesn't let that short-circuit him.
Good luck Emmet!!
These markets are about to be way crazier. The possibilities will go beyond anything we can imagine.
Hey Dave,
I’ve been subscribed to your channel a few months now. Ever since then I have taken some advice from you and has helped me make good decisions on investing. Thank you for the great content.!
great interview!! Love the insights on what you think made Emmet unique. Of course it sounded obvious once you said it but that's exactly it. It's not meant to be something easy to replicate otherwise anyone else can do it. Great insights and conversation.
Super valuable Dave and Emmet! Thank you! Dave I totally get your comment about options for income and how it becomes a job. It fits the usual lifestyle box, so people "get it" even tho they want to get away from that lifestyle.
The whole time through these videos I’ve been wanting to scream at either of you to mention the book Anti-Fragile by Nassim Nicholas Taleb. It talks precisely about philosophy around small bets for large gains with options, how to build a portfolio around it, and how to think about investing overall with this mindset. I highly recommend looking into it and the rest of his books (black swan, fooled by randomness especially) for an amazing debunking of conventional Wall Street wisdom
Man, so many juicy insights in these interviews
On risk: I had about $90,000 in my ROTH managed by Fidelity. Sept. 2019 I refinanced my house from 15yr mortgage to a 30 year taking money out to buy my model 3 dual motor and FSD. I am vision impaired, legal to drive. The car has improved my life more than I can put into words. I then started learning about Tesla and after studying it while experiencing the cars impact on my life I took about 47,000 from my Roth and put it into another Roth. 50% I put into Tesla, not all at once, but an average after split price of $70. I am now almost 69 so while I’m committed to long term, that is like 5 years. I have MS-CPSC degree and worked on real-time Unix and other OS’s making a good 6 figure income in 2000. I was mugged and forced out of work in 2004 and due to preconditions I did not receive long term disability. If I should today pay off my house and place the balance in a stable fund I could live on about $55,000 a year tax free (love the Roth) but I am looking to wait a while before taking action. I have been mentoring x-cons trying to help them become successful. The point is $$ not so important for me but I can use it to help others. What is important to me now is how I spend what life I have left. I have learned money does not bring happiness or joy, but how I spend my life does. You see my plan and hope I have not waisted your time if you should read this. Any thanks for your teaching insights!
Hell yes to both of you. Dave, loving the videos and content.
Thank you.. loving everything about the discussions with Emmet..
Got excited when I’ve a notification from your channel that Emmett is on!!
There is so much learning in these conversations, so much more beyond just Tesla, Stripe, 10x-ing .. love it an look forward to the next one an many more..
I'm glad you addressed survivors' bias. This was my #1 concern when I found your channel given you seemed to base your success on a single stock.
Cathie Wood of Ark Investments is a perfect example of someone who’s done their homework and has a track record to back it up!
Cathie wood interview soon?
Emmet is the real deal. Great conversation
Emmett’s investment insights:
1. Detachment to money: giving you psychological strength
2. Probability view to world events: a trait common in to investors such as Buffett and Nick Sleep
3. Market Psychology understanding: money and stock market are games of psychology. Probably a lots of things involved human are games of psychology
4. …
Breadth is probably the best point. That makes a lot of sense. In my MBA program there were definitely guys who were better at finance than I was. That said, I bet my more varied skills have made me a better investor.
I have only 672 shares I bought at avg $70 each😂
I made lots of investing mistakes listening to the "experts" on CNBC especially the head clown Jim Cramer. Investing seems to be counter-intuitive, doing the opposite or staying convicted when everyone is saying to run. Awesome channel and content Dave. Congrats on 201!
Simple rules:
When the market crashes: Buy.
When Tesla crashes: Buy.
When a tech/EV/dream stock has as IPO: Buy, and sell after its up 20% within a few days.
Love deep conversation like this Dave! Been learning so much! Things that can’t learn from school or else where! Thank you! Please keep up the work
My scars are much deeper, options and margins are dangerous. Allocating
Emmet indeed put
These types of events reminds me of a recent move I did when I heard about a monumental acquisition, Salesforce acquiring Slack, so I sold slack on the news and bought into a cloud stock in a related space because of the typical occurrence of acquisition excitement, so I noticed Dropbox didn't rise much yet and bought Dropbox stock and options on this thesis, so far it is playing out well and as expected.
Should have him on as a weekly guest! Never gets old.
daily at this point
Thank you to Dave Lee & Emmet Peppers for sharing. Holding all my TSLA for long-term per ARK Investment's Cathie Wood's long-term price targets. Can Emmet share his thoughts on BTC (bitcoin) & ETH (ethereum)?
Thank you Dave and Emmet! That was really useful.
To discern what’s true: not only look for consistent performances of the messenger, but also analyses from first principles (stripe example)
Fantastic, discussion. Emmett’s strategy can’t be taught in an on-line tutorial, it is more mental than anything else. The detachment of money is critical- when you buy options, you got to be willing to accept losing it all. Options is all psychological, you get to decide the balance of risk vs reward- how long are you willing to ride the bet before time decay takes over and you reach the point of no return.
You have a great channel, i appreciate you!
You videos saved me from losing thousands on a single TSLA call I wrote last Monday. I picked 530 as my strike price and while its come back down a little bit now. I was looking to lose ~5k (50*100) on the upside. Sure I got my premium of ~4k from the 485 price. So Monday afternoon I bought my call back at a loss of ~2k as I didn't want my shares called away. Going to be much more careful picking strike. I was after the premium, but was going to lose my shares and I rather hold.
I wanted to say that is was Emmets strong convictions on TSLA that made me realize I made a HUGE mistake. I'm a TSLA fan too of course, but Im overweight and was looking for a way to profit while I exit a little. Even though its 20% of my portfolio Ive decided too hold longer since TSLA is so unique.
Mr Peppers should not be doing RUclips videos :-) He should be somewhere on a private island sipping some tropical drinks and enjoying time with his family. Incredible returns WOW.
Really loving these discussions. Incredibly interesting
Love & Respect your fears and attack them! They are your best signs of what you want to be good or better at!
Outstanding! Love the collaboration!
Glad you enjoyed it!
margin vs profits - basics of P&L - reading/understanding SEC documents. - those who can do, those who can't teach - hello Dave. great advice about starting slow so your mistakes/misfortunes don't bury you.
Great video Dave. I know Emmett mentioned poker was one of his hobbies. Being an avid poker player myself, I would say the game has definitely helped me with the analytics and psychology aspects of investing. And a great way to sharpen those skills.
Keep up with good work, Dave.
Thank the both of you ..so much ... stay safe
Nice job on these conversations with Emmet Dave. Very informative.
Thank you Dave and Emmet!
Very interesting to highlight the distinction between people than put together well sounding stories and people that are on the quest for truth. Very different endeavours, and performance track record is a good demarcation metric on the long run.
Inspiring and deep insight guys.
The detachment only happens when you have more than enough to live on and even thrive and are way beyond survival mode!
Absolutely correct. >2 million in the bank for 1 person should be the minimum threshold.
@@RameshRamloll Depends where you live, family situation, and your ability to be happy without a giant car and house.
Personally $800k will put me over this threshold.
@@udishomer5852 Oh I can be happy with a little car and house... but health care costs when one gets old sky rockets ... I think. At least this is what it looks like here in Pennsylvania.
Great discussion . We’ve learned a lot from this. I hope to see more videos of the same in the future . It’s big help especially for us new in the market. Thanks Dave / Emmet.
I’ve been saying this move in Tesla will continue to go up. This has nothing to do with valuation or technicals. This is simply supply and demand, and we know the actual date. These shares need to be bought on an exact day. This is a black swan event. I’ve never seen anything like this in 22 years of investing. I still say Tesla could hit 700-800 a share by December 21st.
Thank you both so much.
The points Dave made about why Emmet has had unusual success in the markets are the identifiers of a successful poker player. I know from experience, that I took my experiences from playing poker into the stock market, and they have served me very well. The keys are playing with the odds always in your favor. You have to be able to see clearly when the odds are stacked in your favor, and play big on those odds, while maintaining a relatively low level of overall risk to your entire portfolio. In Emmet's case, and in my case, we bet big on the odds of TSLA eventually becoming one of the largest companies in the world, and that played out faster than we could have hoped for, with lots of upside headroom left over.
great chat and thinking
GREAT chat.