Wed, 11 July 2018
CW 1025 - Doing Capitalism in the Innovation Economy, Reconfiguring the Three-Player Game between Markets, Speculators & the State with Bill Janeway
Jason Hartman starts off the show from Croatia discussing the difference in investing when there are private companies involved versus when the government is involved. With private companies you know what you're going to get, they're going to follow supply & demand and try to maximize profits. With governments, however, they're much more of a wild card, which can make successfully investing more difficult.
Then Jason talks with Bill Janeway, an active venture capitalist, director of Magnet Systems and O'Reilly Media, Chairman of the Board of Trustees of Cambridge in America, and author of the recently revised and updated book Doing Capitalism in the Innovation Economy. The two discuss the 3 player game and the government's role on both the supply and demand side of the market, the digital revolution and the coming green revolution.
[2:53] You can predict what private companies will do pretty easily, the government is a wild card
[6:39] An invitation to Profits in Paradise in Hawaii
Bill Janeway Interview:
[9:32] How the thesis of the 3 player game came about
[13:29] There are markets that need government pushing the supply side of things for driving innovation, but sometimes the government even needs to be on the demand side, adding income to support the economy
[17:22] If the government hadn't jumped in on the demand side in the 2009 recession history has shown us what would have happened
[19:26] Wherever there's a market for assets there will be bubbles
[25:10] Why the digital revolution made Bill extend his book
[32:09] We've got a new challenge, a new technological revolution, which is the need for a new, green revolution
Mon, 9 July 2018
Jason Hartman does episode 1024 from the bow of a yacht outside of Croatia with Venture Alliance member Carmen. The two discuss inflation's impact on everything from our savings to our real estate, how to deal with trolls in business (and the lawsuits that inevitably follow), and the need for a side hustle.
In the second half of the show Carmen and Jason discuss her Amazon business, which includes how Carmen sources product, the trials of selling on Amazon, and how your business should evolve over time to stay relevant.
[6:13] Inflation destroys the value of our savings, but thankfully it also destroys our (real estate) debt too
[9:41] Technology is making office and retail real estate almost irrelevant
[12:44] Why Jason let someone not pay him on a note for 11 years
[16:10] Are patents even worth it these days with the speed of the world?
[20:58] Life is messy, it's how you handle it that's important. Stay away from the get rich quick stuff.
[25:15] Get a side hustle if for no other reason than to have more tax writeofffs
[31:28] You have to evolve with your business
[36:41] Outlets like Amazon have allowed control of the marketplace to leave board rooms and let individuals call the shots
Fri, 6 July 2018
CW 1023 FBF - Patrick Donohoe - What's NEXT for REI & The Economy, Perpetual Wealth, Infinite Banking & More
Today's Flash Back Friday comes from Episode 783, originally published in January 2017.
Jason’s guest, Patrick Donohoe is the CEO of Paradigm Life. Paradigm Life is an insurance-based financial services company. Patrick shares his thoughts on the recent political changes and how the U.S. economy will be affected, he shares his thoughts on the new administration with a high-level worldview and he recalls his recent experience at the Meet the Masters of Income Property event in California.
[3:05] The caliber of people at the Meet the Masters of Income Property event was a high point
[5:52] Foxconn will bring manufacturing back to the U.S. due to Trump’s business savvy
[12:28] Patrick doesn’t believe charity to foreign nations is in the best interest of the U.S.
[16:23] It will be fascinating to see how Trump deals with the past, present and future
[20:49] Trump will inject adrenaline into the U.S. economy
[23:50] Paradigm Life is an insurance-based financial services company
[28:18] A stock market rally is a short-lived business cycle
[30:51] Patrick describes how he makes the right investment and performs due diligence when acquiring properties.
Wed, 4 July 2018
Jason Hartman takes a turn to the listener mailbag while talking with Kerry Lutz, founder of the Financial Survival Network. Today's topics run the gamut from when to rent your personal residence, how RV ratios work around the world, how to work with Jason, and how to get OUT of the real estate game as you get older.
[2:41] Why Jason has long believed the idea of public unions is ridiculous
[6:27] The stigma between renters and home owners seems to be disappearing, if not already completely gone
[9:54] Mason's question on renting his primary residence
[18:42] RV Ratios apply world wide
[19:23] How is depreciation unwound?
[24:58] Is it wise to put 100% down on a property if you have the cash?
Mon, 2 July 2018
CW 1021 - Prepare for the Next Recession, Strategic Defaults, Leveraging Debt Properly with Kerry Lutz
Jason Hartman spends the episode talking with Kerry Lutz, founder of the Financial Survival Network, as the two discuss the ever important issue of preparing for the NEXT recession (because we all know there's going to be one eventually). The two discuss the importance of using debt prudently, how the banks were active participants in the mortgage meltdown, how to find true asset prices, and more.
[7:45] Planning for the next recession
[13:06] We are in a boom economy, so what do we need to be reminded to watch out for?
[16:59] Check your home insurance renewals carefully
[24:13] Debt is your friend, and if managed properly it always offers options
[28:24] The banks are active participants, not victims, in these mortgage meltdowns and recessions
[34:21] If the lending dried up in any asset class the price would adjust to the real market value
Fri, 29 June 2018
CW 1020 FBF - The Four Purposes of Life, Finding Meaning & Direction in a Changing World & Way of the Peaceful Warrior, A Book That Changes Lives
Today's Flash Back Friday comes from Episode 640, originally published in February 2016.
Jason starts things off with his thoughts on cycles of opportunity, autonomous cars, and information about how you can win free tickets to the next JHU event. The JHU event will highlight how to evaluate properties for the most historically proven asset class in the world. And returning guest, Dan Millman who is the author of 17 books, talks about his new book “The Four Purposes of Life”. He shares his special life calculator which utilizes the numbers from your birth date to enlighten you about your life path. This information can help guide you on your journey.
[4:32] The opportunity cycle when supply exceeds demand requires sorting
[10:00] The autonomous cars will be virtually everywhere, it’s a game changer
[14:45] The problem with statistics
[18:57] Land contract options available
[21:15] Evaluating properties at the next Jason Hartman University Live event
Dan Millman Guest Interview:
[24:25] Writing The Four Purposes of Life
[26:29] What are the Four Purposes of Life?
[28:56] Purpose #4 - Attend to the arising moment
[34:15] Increase your quality of presence
[35:55] Purpose #1 - Learn the lessons of life a little more gracefully
[39:51] Purpose #2 - The difference between your career and your calling
[43:04] Purpose #3 - Discover life’s path
[47:45] All of my books have their own purpose
[48:25] 12 required courses in the school of life
Wed, 27 June 2018
CW 1019 - Leveling the Tax Playing Field, Inflation vs Technology, Popular (Stupid) Economic Ideas, Improve Your Quality of Living
Jason Hartman has a solo episode today as he explores some recent news stories and examines a few items of the day. Venturing all over the topics, Jason mulls over why it's pretty common for the most popular economists to have the worst economic ideas (a la Karl Marx) and why the best economic ideas have the most disliked economists. Which leads to the question, what stupid ideas are we as a society embracing today?
He also discusses the Supreme Court ruling that will somewhat level the field of retail as online retailers are now able to be taxed by the states, giving at least some form of a light at the end of the tunnel for retailers.
Other topics of the day include the cost of terrorist protection, technology vs inflation, preventing identity theft, and the potential beginning of the demise of a massively overvalued (in Jason's mind) company.
[4:54] The economists who present the best economic views are not the most popular
[7:39] What totally stupid ideas are we embracing as a society today?
[13:08] One massively overvalued publicly traded company today
[16:39] The tax field was significantly leveled last week
[21:14] The battling forces of inflation and technology
[24:22] Why you need to shred EVERYTHING with a cross cut shredder
[26:45] If you can geoarbitrage, make a conscious choice to live in a higher quality location with a lower cost of living and low or no state income tax
[32:57] The demographics coming at the rental housing market in the next 10 years are nothing short of phenomenal
Mon, 25 June 2018
Today's episode is all about jobs. Jobs that are vanishing to be precise. Jason Hartman takes a look at a Business Insider article that discusses 41 jobs that are disappearing in today's world. Not surprising, many of them involve middle men/women.
Then Jason finishes his interview with Ben Way, CEO of Digits, about how technology (robots in particular) will be changing the way we think of things throughout our society, from dating to working, to risk aversion. Information is more available than ever before, is that actually holding us back?
[3:47] Real estate investing is really just investing in packaged commodities
[8:31] One of the jobs that is going away is Executive Secretaries and Executive Admin Assistants, and why it matters to real estate investors
[13:09] Technology makes it easy to disintermediate, leading to middle man jobs going away
Ben Way, Part 2
[18:59] How do the logistics and hard drives of robots work?
[22:10] The plethora of information is making kids more risk averse
[25:51] The two things we get wrong when it comes to education
Fri, 22 June 2018
CW 1017 FBF – Why Income Property is the Most Tax-Favored Asset Class with Diane Kennedy, CPA & NY Times Best-Selling Author
Today's Flash Back Friday comes from Episode 491, originally published in March 2015.
Jason invites Diane Kennedy on the show to talk about taxes and how to save you money. Diane is an experienced CPA and helps her clients all over the world with their taxes, accounting, and investing. The main subject of today's focus is why you should get real estate professional status, the benefits it provides, and what you need to do in order to qualify.
2:40 – The government takes a big cut whenever you sell stocks and precious metals, but that doesn't happen with income property
7:40 – Diane explains what the charitable remainder trust is
13:05 – There are three tests you need to qualify in order to get the real estate professional status
20:00 – What is the an aggregation election? Jason explains
29:50 – If you have a property manager, it's going to be hard for you to qualify. It is best in this case to self-manage your properties
34:15 – This stuff is complicated! Get advise from a good CPA and attorney before it's too late
36:00 – Why do you even want to get real estate professional status? Jason breaks it down
42:30 – The government wants you to own property. They are even incentivizing you for it
Wed, 20 June 2018
CW 1016 - Danger of Short-Term Trends, Turn Your Credit Card Into a Cryptocard, & Future of Artificial Intelligence with Digits Ben Way, Part 1
Jason Hartman starts off the show by discussing alligators, both real life ones and real estate ones, and how we need to avoid both. As we go through life, it's easy to look back and say "If only I'd invested then", so the current you should invest for the sake of future you.
Then, Jason talks with Ben Way, CEO of Digits, about how the future is going to look in the first part of their interview. The two start off discussing how Digits is going about turning regular credit cards into Cryptocards that allow you to spend your cryptocurrency but also hedge that purchase for a year. Then the two discuss the changes that automation is going to bring to our society.
[2:07] A trivia fact about real alligators, and avoiding real estate alligators
[5:07] The short term trends are what gets people, because you have to allow for 2-3 years
[10:19] Naresh's realization that real estate was a worthy investment
[14:11] Invest for your future because there will be a time that you will say "I wish I'd started back then"
Ben Way Interview, Part 1
[18:40] How Digits converts your existing credit cards into crypto cards and gives you up to a 1 year hedge on your currency
[21:55] How the 1 year hedge is made possible
[26:10] Every innovation leads people to fear that everyone was going to lose their job and be displaced, but it's never really happened. Is this time different?
[29:42] What people forget about automation