Valuetainment - WARNING! The Biggest Market Crash Of Our Generation Is Here

00:00:00.000 So I believe a market crash and a recession is around the corner, and I think it's going to be

00:00:03.300 worse than what a lot of people think is going to be. And I don't think 90% of America is ready

00:00:08.480 for it, let alone the world is ready for it. But those who are, are going to benefit from it the

00:00:14.000 next two to five years. We'll talk about the top 10 market crashes we've ever had, the duration,

00:00:18.760 how ugly it was, the cause of it. We're going to talk about how to be ready for the difference

00:00:22.760 between a market crash and a recession, what other experts are saying about it, different stocks.

00:00:28.040 And then anyways, based on that, as I make the argument to you, at the end of it, you'll

00:00:33.000 be able to make a decision, what decisions you're going to make with your finances and

00:00:37.000 proper sequencing moving forward. Having said that, at the end of it, the slide is going

00:00:42.420 to be around 80 pages. Some of you guys will have a way to get the 80 page PowerPoint that

00:00:47.840 we'll give to you. So stick around till the very end. The reason why I did this, this was

00:00:51.640 a private webinar that I hosted just a couple of days ago, where tens of thousands of people

00:00:56.660 signed on. And the next thing I saw is these things were being uploaded all over YouTube.

00:01:01.940 And I said, I'm going to shoot this again. And I'm going to make this public due to popular

00:01:05.960 demand. And then the audience is going to be able to do whatever they want to do with

00:01:09.220 this information. So having said that, let's get right into it. So first of all, a couple

00:01:13.240 of things that we're going to be learning today, the difference between a market crash and a

00:01:17.120 recession, why recessions are important, how to prepare for them, and how to make your millions,

00:01:22.300 whatever the dollar amount is for you during and after a market crash. So my opinion, I

00:01:28.500 believe a market crash is coming six to 24 months from then. The only reason I put that

00:01:33.560 six to 24 is because the Fed and our politicians are trying, the White House is trying to do

00:01:40.020 whatever they can through purely fake way of increasing interest rates or, you know, a different

00:01:47.800 kind of build back, better plans, whatever they're going to be doing to put money into

00:01:51.440 the system to delay this market crash and the recession that's coming. Midterms is around

00:01:57.200 the corner. So it could be six months. It could be 12 months. It could be 24 months, but it's

00:02:02.200 coming. Recession is going to probably be announced a lot sooner. It could be as soon as July.

00:02:06.800 It could be as soon as Q4, but that's also coming here soon. But I'll give you some of the

00:02:11.080 tools I want to do to be prepared for this. So my market crash philosophy that I follow,

00:02:16.500 and I'll break it down for you exactly how this has impacted my life. Number one is every time a

00:02:22.360 time like this comes, and I don't believe a time like this is going to come for another 20 to 40

00:02:26.580 years, maybe not even in my lifetime, because the perfect storm of what's going on today with how

00:02:32.960 COVID came and we were asked to stay home, but money was sent home. We printed trillions of dollars

00:02:41.000 of money and a lot of it went to the rich. Some guys went from being worth 20 billion to 300

00:02:46.480 billion, somewhat from being worth a million dollars to 300 million dollars, and then some

00:02:51.700 of them are going to be corrected today. And then, you know, at the same time, the inflation, gas,

00:02:57.480 Ukraine, Afghanistan, there are so many different things that are hitting at the same time, 128-month

00:03:03.800 economic expansion, that we're being affected by it. So if you're ready for it, this is when you add

00:03:09.480 the next zero to your net worth. If you're worth 100 grand, you ought to be worth a million dollars

00:03:14.380 in the next 12, 24, 36 months. If you're worth a million, you ought to be worth $10 million if you

00:03:19.800 do it right the next two, three years. If you're worth 10 grand, you ought to have $100,000, maybe

00:03:24.460 even a million dollars. But the key is to chase the next zero, your next zero, whatever that zero,

00:03:30.040 maybe now you may say, Pat, I'm only worth $100. Well, then go to $100,000. It doesn't matter what

00:03:34.840 it is, but chase the next zero. That's how I process it. Number two is recessions are a good thing

00:03:39.520 for marketplace. God knows we need today's recession. Yesterday, I had on the podcast,

00:03:44.760 the gentleman who coined the phrase quantitative easing. He worked for Japan, Bank of Japan. He

00:03:53.080 worked for all over the place, all over the world, Oxford grad, all this stuff, economists,

00:03:57.240 and we had a debate back and forth. But I believe we need to actually go through a recession and our

00:04:02.760 politicians need to allow this to happen. But it's actually good for the marketplace. I'll explain to

00:04:07.580 you why. It's the best time to build wealth, and only the prepared will prevail during this time.

00:04:13.200 So if you see this picture, that's me. I think this is day two or day three at Morgan Stanley Dean

00:04:19.060 with her. I got started with them a day before 9-11, and that's my cubicle. The lady in the back,

00:04:25.900 she was one of my coworkers. We got hired on the same day. Her name is Sol. And the gentleman who hired

00:04:31.520 us, Dave Kirby, sat us down, and it was only supposed to be one of us getting a job. She was obviously

00:04:36.640 very overqualified UC Berkeley, and I was underqualified. But he liked us both. He gave

00:04:41.700 us the job, and he said, you guys got to share a computer screen together. What you don't see is

00:04:45.280 to the right. She was a genius. I think she got like a 1560 on an SAT. It's our coworkers taking

00:04:50.340 a picture. Don't let that smile fool you. Nobody was smiling because the corner, a stock broker in

00:04:55.940 the corner who was making 700 grand within 12 months, his income dropped to 70 grand. He was not ready

00:05:01.160 for it. He was golfing pretty much every day, and he didn't see this event coming up. And then next

00:05:07.040 thing you know, things happen. But Dave Kirby had a meeting with us. Everybody was scared, and he

00:05:12.000 said, it's going to be the toughest time to stay in this business. This is not a good time to stay

00:05:16.020 in the business. But if you do, in the next three to five years, the opportunity is going to be great

00:05:20.300 for you. So the 2001.com bubble happened. I got started on 9-10. It was the worst time to start with

00:05:27.860 Morgan Stanley Dean Witter. We had 3,600 employees at World Trade Center. When World Trade Center went

00:05:32.720 down, I was supposed to go to New York. They shifted our training, and I went to San Francisco

00:05:36.680 instead. And before the next recession, while this took place, this is when I made my first $100,000.

00:05:42.340 Now, keep this in mind. I'm not a qualified guy. I'm a military guy without a four-year degree or a

00:05:47.640 two-year degree. I'm a bodybuilder at this time. That's what I want to do. I want to be Mr. Olympia.

00:05:52.080 That's my dream. And then I shifted into the financial industry. So I'm not the guy that's supposed to

00:05:57.600 make the money, but I made my first $100,000, specifically in savings is what I'm talking

00:06:02.180 about. And then this continued. So then I opened up my own offices and insurance. This is me in a

00:06:08.600 picture sitting in front of my computer. Look at that earpiece, by the way. Those are the old ones.

00:06:12.400 And I'm wearing a camel hair jacket, I believe. And I'm sitting there working on some projects.

00:06:18.200 But this is 2007, 2008. This picture was taken at a building, 8550 North Balboa Boulevard in Northridge,

00:06:26.720 California, right across from Roscoe and Balboa. So I'm sitting there. At this point,

00:06:33.940 I'm tracking everything that's going on with the market, my savings, my investments.

00:06:38.580 And a few things happen at this point. In this picture, I have around half a million dollars

00:06:41.900 in savings. I started my own insurance company. A year and a half after that, October 2009,

00:06:47.600 probably the worst time to start it because this is when AIG was almost going out of business.

00:06:51.740 Insurance companies at the time had nothing to lose. They had a hard time with business.

00:06:55.340 And we grew it from 66 agents. Today, we have over 20,000 agents nationwide. But before the

00:07:00.720 next recession at this time, at a million dollars in savings. Let me continue. This keeps going on.

00:07:06.640 COVID happens. 2013, 2014, market crash happens in 2020. Financial assistance where a lot of people

00:07:13.660 were taking PPP loans. We didn't take the PPP loan. We had a meeting with our board. They said,

00:07:17.720 we can get around $4 million. And I said, I'm not taking a $4 million. I said, why? I said,

00:07:22.060 why would we take $4 million when we got 15 million sitting in the, why would we do that? We're not

00:07:26.660 going to do that. Let that money be taken by other people. My board thought I was crazy.

00:07:30.440 Anyways, a year and a half later at an event we had at MGM, one of our board members who's the

00:07:34.620 managing director of Oaktree Capital Management for one of their divisions got up on stage in front of

00:07:39.220 everybody at MGM Grand Arena and says, hey, one thing you guys don't know is when COVID hit and we

00:07:43.220 could have taken $4 million. Your CEO Pat said he's not taking $4 million because he doesn't want

00:07:47.860 to take it. So this isn't a guy that talks capitalism. He actually believes in that stuff.

00:07:51.680 So a lot of people are taking financial assistance and I saw so many restaurants going out of business.

00:07:55.960 I said, they need the money. I don't need the money right now. We're going to be okay for it.

00:07:59.880 But the people that need it, let them be able to take advantage of it because they're officially

00:08:03.920 being said that they're a, what's the word? That they're not an essential business,

00:08:09.920 right? These non-essential businesses. It was a tough time to be in business of restaurants

00:08:14.080 during that time. But for our business, we went from a hundred percent being face-to-face sitting

00:08:18.200 with clients to all of a sudden, I can't see my clients because I have to do Zoom. We didn't know

00:08:22.400 how to do that. We made a shift immediately. So when that crisis happened, I was scared. I didn't

00:08:26.860 know what to do. I came home after a flight. We were coming back from Beverly Hills Hilton,

00:08:31.060 had a meeting with my board, De La Jolla, Gabriel Brenner, all these guys, everybody canceled because

00:08:35.120 of COVID. So everything's going on with, that was the day where Disney shut down, you know,

00:08:40.860 NHL shut down, NBA shut down. Donovan Mitchell got COVID from Rudy Gobert and he was pissed off.

00:08:46.880 That was the day. I was in LA 23 hours with the wife and three kids and my nanny. We flew back,

00:08:51.920 took the family to the house. I went to the office, was there till three o'clock in the morning,

00:08:55.560 studying, saying, what the hell is a pandemic? How ugly can this thing be? What can the market react?

00:09:00.260 How will the market react? And nine out of 10 times, the panic is so big that people panic.

00:09:06.260 And then all of a sudden we recover six months later, 90% of the top 10 pandemics we had in

00:09:11.780 America, we recovered six months later. The only one we didn't recover for six months,

00:09:16.440 12 months later was AIDS. Everything else we recovered. So I said, okay, we're probably going

00:09:20.600 to recover, but how are we going to sell now that I can go to people's homes? We shifted. We went to

00:09:25.060 Zoom. 90% was Zoom. 10% was face-to-face. And then during this time, because of the

00:09:30.180 adjustments we made, just like some of you guys are watching this, you may be in real estate.

00:09:33.440 You may be a stockbroker. You may be a digital marketing guy. You may be a content creator.

00:09:37.760 You may be a pharmaceutical salesperson. You may run a different, you may run a restaurant.

00:09:41.620 You need to make the proper pivots right now and don't sit around being casual like a lot of people

00:09:46.340 in your industry are going to be because the cemetery of businesses are going to be filled

00:09:51.240 the next 12 to 24 months by CEOs and founders who didn't pivot quickly. They were just like,

00:09:57.500 yeah, it's not a big deal. People are just trying to scare us. Okay, no problem. And then

00:10:00.960 what am I going to do? I'm down to $7,000 in my bank account. Exactly. You underestimated the

00:10:06.780 severity of what's about to happen and you're paying a price for it. And not only you, you and

00:10:10.780 your 22 employees are not paying a price for it. This is why it's very important to study material

00:10:15.320 like this and make urgent decisions quickly, not sitting there and just waiting for two years to

00:10:21.680 see what's going to happen. Anyways, during this time, a lot of opportunities came up for me

00:10:24.700 when people were panicking. During that time, I got a call from a guy who owned two Wayne Gretzky

00:10:29.620 cars. He wanted to sell it for half a million dollars. I bought the two for $540,000. Year

00:10:36.040 later, year and a half later, I sold it for $2.1 million. And those cars took off. And by

00:10:40.620 the way, if I would have kept it for another year, one of the cars would have sold for $3.5

00:10:44.260 million. But the point is, I went from $540,000 to $2.1 million like this. Easy $1.5 million

00:10:50.800 that was made there. That doesn't include other investments that was made, that I'm real

00:10:55.140 estate, other things that I made money. The point is, when people are scared, money is

00:11:00.280 made because of people who have cash and can make decisions. So stay with me here as we

00:11:04.940 go through this. So I went from having six figures in savings, and net worth went from

00:11:09.140 six figures to seven figures to eight figures to nine figures. So everybody ought to be chasing

00:11:13.980 the next zero. I'm chasing my next zero. You ought to be chasing your next zero, whatever

00:11:18.420 that zero may be for you. But during these times, scary times, everybody panicked. I

00:11:24.620 took a different strategy. Simply because back in the days, every time I panicked, I

00:11:28.600 didn't make money. So I'm sharing with you some strategies that worked for me. So now,

00:11:32.720 how concerned should you be about the economy today? Well, let me share with you what a few

00:11:37.260 people are saying. Here's a guy named Elon Musk. You may have heard of this guy. Some

00:11:41.400 call him a genius. Some call him a disruptor. Some call him an innovator. Some call him the

00:11:45.620 greatest troll in the world because he knows how to get under people's skin on Twitter.

00:11:51.080 But here's what he did say. On May 26, one of the Twitter users asked him a question.

00:11:57.200 Zach asked him, do you still think we're approaching a recession? He said, yes, but this

00:12:01.460 is actually a good thing. It has been raining money on fools for far too long. Some bankruptcies

00:12:06.980 need to happen. Also, the COVID stay at home stuff has tricked people into thinking that

00:12:11.520 you don't actually need to work hard. Rude awakening inbound. By the way, just yesterday,

00:12:17.680 I want to say, he tweeted out saying, and he sent an email out that came out public.

00:12:23.340 He said, you know, if you want to pretend that you're working 40 hours from home, you need

00:12:28.560 to do 40 hours from the office, physical. If you're thinking you're going to do remote

00:12:32.620 work at Tesla, you're fired. This company isn't for you. He announced that, I believe,

00:12:36.480 two days ago. It was all over the place. I can't believe he said this. Remote work is the

00:12:40.240 right way to go. Elon's saying, no, remote doesn't work. You know what the following

00:12:43.300 day he announced? Today. Today, while I'm recording this, today is June 3rd, I want to

00:12:46.640 say. It came out that Tesla's firing, I believe, a 10%. I don't know the exact number, but they're

00:12:51.940 about to let go of some of their employees because they have to. This is the next phase

00:12:55.560 that they're going through. And Elon's trying to say, if you don't want to work from home,

00:12:58.580 we got to let go of the bottom 10%. It's your choice. So where is Elon going with this?

00:13:02.900 Where is Jamie Dimon going with this? From JP Morgan Chase, he said, the Fed only has a 33%

00:13:08.540 chance to avoid a recession. What? So that means there's a 66% chance we're going into a recession.

00:13:14.340 Yep, based on what Jamie Dimon said. Carl Icahn, legendary Carl Icahn, a man many fear

00:13:19.460 in the public sector. I think there very well could be a recession, even worse. What do you mean even

00:13:26.160 worse? This is a money guy. He's going to lose a lot of money if there's a recession, but he's probably

00:13:31.200 prepared for it. Billionaire Icahn issues ominous warning. Why is he saying that publicly? He's in

00:13:38.400 the space that it's better for people to be thinking bullish, not bearish. Leon Cooperman,

00:13:43.880 who had on the podcast here six, seven weeks ago, he's worth $2.5 billion. He said, it's not written

00:13:49.040 in stone, but that would be my guess. Leon Cooperman joins chorus of billionaire investors,

00:13:53.740 warning of US recession. He sat here, it's on a podcast. You can watch it. I don't know what

00:13:57.940 episode it is. And he said, I said, how ugly will it be? He said, I think we're going to have 40%

00:14:03.320 market correction, around 40% market correction in 2023. I said, that bad? He says, I think it's

00:14:08.660 going to be around 40%. But he said it in a way where, yeah, it's normal. It's coming soon because

00:14:12.820 he's been around the block for 40 years and he's seen these things happen many, many times. So this

00:14:17.940 is not coming from somebody that just got into business five years ago. Wells Fargo CEO warns

00:14:22.080 US, it's going to be hard to avoid some kind of recession. This is Bill Dudley, New York Federal

00:14:29.800 Reserve. Yeah, he's the former president of Federal Reserve of New York. Very, very unlikely Fed can

00:14:36.560 tame inflation without sparking recession, former New York Fed chief says. So we can go on and I can

00:14:42.760 quote you 10 other people what people are saying, but that's not the key. Let's just get into,

00:14:46.920 should we be concerned about a market crash? 75% of Fortune 500 CEOs said this month that they were

00:14:53.360 bracing for a recession. Let me read this to you one more time. 75% of Fortune 500, these are the 500

00:15:00.520 biggest companies in America, said they're bracing for a recession. They said that this month. This is

00:15:06.800 a Forbes article. So now, it's now all about an anticipation game. What's an anticipation game?

00:15:13.000 You can go and fight and all you can do is swing, okay? And you're not playing defense and all of a

00:15:18.120 sudden you get caught and you lose, right? You could get lucky and knock somebody and say, oh my God,

00:15:21.860 look what a great fighter he is. But if you look at Mayweather, who's undefeated, his game is what?

00:15:25.940 He's the anticipation game, right? And then what did Canelo do? He kind of learned his defensive game

00:15:31.860 went to a different level after he fought Mayweather because he realized, I need to get this defense

00:15:35.620 part down. Everything about business right now is to anticipate. Great generals anticipate,

00:15:40.500 great basketball coaches anticipate, great military leaders anticipate, great presidents anticipate,

00:15:46.960 great founders anticipate, and you ought to play the anticipation game. What could it look like?

00:15:51.780 If we have a recession today, what industries will take a hit? How bad will it be? Who will go out of

00:15:56.800 business? Who will it benefit? How can I put myself in a certain positioning to benefit from this?

00:16:03.260 What do I need to do from now before it happens? Who should I be reading? What article should I be

00:16:08.140 reading? Where's a place where I can get a lot of this information out there for myself? But it's

00:16:12.080 all about an anticipation game right now. So what you're doing today to prepare, what are you doing

00:16:16.520 today to prepare? The more you do the preparation now, so some say, what if it doesn't happen? Great

00:16:23.420 if it doesn't happen. You don't buy a life insurance policy because you're going to die tomorrow.

00:16:28.460 We don't have a stronger military because we're going to war tomorrow. You don't put money in the bank

00:16:33.880 for an emergency fund because an emergency is going to happen. No, you're putting it because

00:16:38.360 if it does happen. So if we go into recession, if a major market crash happens, are you prepared for

00:16:45.020 it? That's what you ought to be asking yourself. So now, recession is a period of temporary economic

00:16:50.020 decline during which trade and industrial activity are reduced, ready, generally identified by a fallen

00:16:58.100 GDP in two successive quarters. We've had one already. Q2 is going to be announced July 1st.

00:17:06.260 If it's two successive quarters, do not be surprised if in July you hear some experts saying we're

00:17:12.020 officially in recession. I don't know if the White House is going to say it because it's midterms,

00:17:16.560 but don't be surprised if some economists say we're officially in recession. Okay, so now what is a

00:17:21.760 market crash? A stock market crash is a sudden dramatic decline of stocks prices across a major

00:17:27.860 cross-section of a stock market, resulting in a significant loss of paper wealth. Crashes are

00:17:32.660 driven by panic selling and underlying economic factors that often follow speculation and economic

00:17:38.620 bubbles. Big difference. One is a day or a month. The other one is two quarters in a row. So now,

00:17:44.080 forecast. Quarter one of 2022, the market economy shrank by one and a half percent. According to the

00:17:50.920 definition, if this happens again in Q2, we're officially in recession. Q2 ends June 30th.

00:17:56.580 This could be the day America officially enters a recession. So what happens during a recession?

00:18:01.320 Companies go out of business. Employees get let go. Borrowing money becomes harder. Consumer spending

00:18:05.880 decreases. Stock market goes down. These are things that happened during a recession. So here's a visual.

00:18:13.140 When you look at this here, this is a picture of a forest. It looks like it's sunny outside,

00:18:18.840 but not if you're at the bottom. Who's getting all the sun? Who's getting all the love? Who gets

00:18:25.360 the most of the rain when it rains? The big trees at the top. How about the ones at the bottom that

00:18:30.340 nobody sees? You're not getting any water. You're not getting any rain. You're getting maybe some of

00:18:35.800 it. You're barely getting any sun, so it's pretty dark. Right above those trees is bright, right?

00:18:41.620 Okay. So the big trees are the big companies that have been getting all the funding, the bailouts,

00:18:47.360 the dollars, all that other stuff, right? Okay. There are a few big trees that catch all the sun

00:18:52.940 and the rain. A few big companies that hire the most best talent. It's hard for new younger companies

00:18:58.540 to grow up and compete with them, kind of like what I was just talking about, until a forest fire happens

00:19:04.060 naturally. Naturally. Forest fires go through natural wildfires every five to ten years. There's

00:19:11.160 a phrase for this. You can go look it up, okay? When the natural wildfires happens, you can see the

00:19:16.820 people on the right. They're scared. This is a natural cycle that we go through five to ten years.

00:19:22.040 The U.S. economic cycle have lasted about five and a half years on average since 1950s. In recent years,

00:19:28.480 we've closer to ten years, okay? So when it happens, this is what it looks like right after the fire.

00:19:34.960 It's not pretty. It's ugly. It's bleak. It's dark. But very quickly, it looks like this, okay? And it

00:19:41.860 gives opportunities for people like yourself to make a name for yourself. This is coming. This happens.

00:19:47.220 It happens every about decade or so. And when it does, those who are prepared for it, hopefully somebody

00:19:51.820 like yourself, they flourish. So now, why are recessions a good thing? Bad companies go out of business.

00:19:57.460 There's room for new companies to grow. Starts a decade or so of growth, and you'll see why here

00:20:01.780 in a minute. No more overpriced talent. There's a lot of people in America right now that are overpaid

00:20:05.820 because they threaten their company that if you don't let me work remote, I'm going to go work

00:20:10.560 for another company. So companies got scared, so they gave a raise. I run companies. I go through these

00:20:14.760 conversations all the time. They gave the raise. And after they got, so imagine the guy went from 60

00:20:20.540 grand to 80 grand. Then the guy that got the raise at 80 grand, his title changed on LinkedIn.

00:20:24.400 He called a few different headhunters, and he said, I'm looking. And then the guy took the resume

00:20:29.440 of the guy with the LinkedIn profile, and he took that $80,000, went to different companies because

00:20:34.420 the recruiter makes 20%, so he doesn't care. He's hoping you get a $100,000 salary. That $60,000 person

00:20:39.900 goes to $80,000, goes to a six-figure salary with a $10,000 signing bonus that can work from home,

00:20:45.140 and he thinks he's fully excited. Oh my God, I went from 60 to $100,000 plus 10 grand signing bonus

00:20:50.720 within five, six months. This happened all the time in a market. Employers experienced this,

00:20:56.560 but then today, the market's going to expose that person and realize that person's not a

00:21:00.940 $100,000 person. That person's going to go back to a $55,000 a year job. It's going to happen next

00:21:06.600 six, 12, 24 months. And then he's going to say, oh my gosh, what's this all about? But the resume's

00:21:13.100 going to read four jobs in the last three years. And employers don't like to hire people

00:21:17.100 with four jobs in three years. They just don't. And they ask, why is this guy going from, oh,

00:21:23.060 well, let me tell you, what I'm really looking for is to have tenure with a company. Oh, really? Yeah.

00:21:27.160 Any reason why your last four jobs, you didn't last more than six months? Oh, you know, one of them

00:21:31.780 was this, and the other one was this. Yeah, the market is going to say, yeah, I don't know about

00:21:35.340 that. We're going to go with somebody else. Those who jumped around from places to places to places

00:21:39.840 are going to pay price for it. So no more overpriced talent, access to talent previously unavailable.

00:21:45.520 There's going to be a lot of, I remember in 08, you would go on jobs.com and you're hiring somebody.

00:21:52.440 There were thousands of peoples with MBA that are looking for jobs who got fired. Thousands on top

00:21:57.800 of thousands who had MBAs fully qualified who are looking for regular jobs because they can't find a

00:22:03.460 job. That's what's going to be happening in the next six, 12, 24 months. Again, this is my opinion.

00:22:08.540 So here's what's happening today. Inflation hit 40-year high, 8.5%. Gas prices jumped to 48%.

00:22:14.380 Year over year, rental rates have increased for eight consecutive months. The average rent for

00:22:19.780 a two-bedroom home in the U.S. is about $2,000 according to research from rent.com, up 22%

00:22:25.580 from a year ago. So from $1,600 to around $2,000. You may say, but that's only $400. That's a car

00:22:32.220 payment and insurance. That's a lot of money right there for the average worker. Groceries up about

00:22:36.920 10% year over year. And here's what's happened to S&P 500 just this year in the first five months.

00:22:42.220 This is from June 1st to end of May. Let me say this one more time. I'm sorry. This is from

00:22:45.820 January 1st to end of May in the first five months. So S&P is down 13.3%.

00:22:52.420 NASDAQ is down 23%. Apple is down 17.8%. Facebook is down 42% just this year. Netflix is down 67%

00:23:04.220 just this year. Amazon is down 32% just this year. Google is down 23%. Tesla is down 37% just this

00:23:14.720 year. These are good companies. These are not bad companies. Some may say the stock's on sale right

00:23:19.780 now, but they're down dramatically just this year. Why are they down dramatically just this year? Is this

00:23:26.240 an indicator of what's about to come? Has it hit the bottom yet? Everyone's asking that question.

00:23:31.020 We don't know yet. Bitcoin is down from, uh, from whatever it was to, it was $40,000. It's now

00:23:37.980 20,000, 20, 18. It was $47,000. It's now $29,000. Bitcoin's on 39% just this year. Okay. I had a call

00:23:46.600 with my Golden Saks guys and they came and flew out and had a meeting with me and they said, every time

00:23:51.580 we increase interest rates twice in a quarter, history tells us 60% chance we go into recession

00:23:56.480 within 18 months. So if they're right, worst case, it's going to be end of 2023, early 2024.

00:24:03.440 Earliest we can hit it could be next month. Okay. So that's kind of what Goldman's position is

00:24:07.520 with recession, but they're saying there's going to be a recession probably within the next 18 months.

00:24:11.540 So how bad will things get? A few things to keep in mind. We've had a lot of fake success the last

00:24:15.860 couple of years. Okay. There's been a lot of Bitcoin millionaires. There's been a lot of people

00:24:19.440 that are flaunting money, but they don't really have a way of making money, but they, it was like,

00:24:24.320 oh my God, that guy must be an expert. Okay. Not saying Bitcoin is a bad thing or Ethereum is a

00:24:27.780 bad thing or stocks are a bad thing, but there's been a lot of fake success. Nobody knows whose

00:24:31.560 success is real. We fed so much money into the market. It's going to go somewhere. And a lot

00:24:37.460 of people got it. Those who got lucky, okay, will be exposed the next two, three years. Those who

00:24:44.020 didn't get lucky will capitalize the next two, three years. We're going to learn, you know, when,

00:24:49.320 you know, when, uh, Eminem had his first son, will the real Slim Shady, please stand up,

00:24:53.620 please stand up. Will the real success stories, please stand up. They're going to be standing up

00:24:58.020 the next two to three years. You'll see them and you'll know who they are. And you'll say,

00:25:01.020 wow, I didn't know what's going to be him. Good for him. Very impressive. Really interesting.

00:25:05.700 Never thought it would be him. I thought it was going to be him. What? I got took a massive hit,

00:25:09.680 but we had a lot of fake success the last couple of years, political uncertainty, uh, midterms

00:25:14.840 war in Ukraine, not going to be pretty. Nobody knows what's going to be happening. Russia, Ukraine,

00:25:18.920 you know, middle East, you know, there's a lot of NATO. There's a lot of things going on there.

00:25:23.320 Inflation is not looking good. Small businesses haven't overcome COVID and will not face a much

00:25:27.980 bigger challenge. The economic expansion after 2020 was pumped up by fake success. We have economic

00:25:33.520 expansion 128 months. Yeah, but we never really finished it off. The next crash would be a dot

00:25:39.860 com double crash on top of the 2008 recession. I'll explain to you why here in a minute. So

00:25:44.700 Churchill once said, the further back you can look, the further forward you are likely to see. So the

00:25:52.780 farther back you can look, the farther forward you are likely to see. So let's go back a little bit

00:25:59.420 and see what are the top 10 biggest market crashes in the history of US. So the number 10 is what we

00:26:04.500 went through during pandemic. It was February 19th, 2020 to March 23rd, 2020. That's what you call a

00:26:12.900 market crash. Look how long it lasted. 33 days. The market tanked 34%. Do you remember that? I

00:26:18.200 clearly remember that. Everybody was scared, but that was not a recession because it's not two

00:26:21.560 quarters. That was just 33 days, right? Ninth one is computer trading from August 25th, 87 to October

00:26:28.180 19th, 87. Lasted about two months. Market dropped 36%. Dot com bubble plus 9-11 March 10, 2000 to October

00:26:35.920 2nd, 2002. That's a recession. Market dropped 37%. Duration, 26.8 months. World War II crash,

00:26:44.900 October 39 to April 28, 1942. Lasted 32 months. Market dropped 38%. Panic of 1907. It lasted 11 months

00:26:53.320 and the market crashed 40%. The continuance of Great Depression from 32 to 33, it was about five and a

00:27:00.200 half months. Market dropped 41%. The USD off gold standard, Watergate, OPEC, all that combined,

00:27:07.120 it was about 21 months. Market dropped 48%. Number three, ready? Great recession. This is just 15 years

00:27:15.020 ago, folks. This is what you need to be looking at. This is literally 13 years ago if you think about

00:27:19.500 it. 13 to 15 years ago. 07 to 09. It was 17 months. The market dropped 54.1%. Some of you guys are too

00:27:27.120 young to say, who's Lehman Brothers? But some of you guys are my age. You're 40 plus and you're like,

00:27:31.740 Lehman Brothers was like Lehman Brothers. They went out of business. Do you remember Countrywide?

00:27:36.800 They went out of business. Do you remember WAMU? It's a $330 billion company. Chase found them for

00:27:41.880 1.9. They went out of business. Merrill Lynch was bought out by Bank of America. Now they still say

00:27:47.220 Merrill Lynch, but it's a Bank of America company. A lot of these companies are going to be going through

00:27:51.820 it as well. No one in a million years thought Lehman's is going to go out of business until they did.

00:27:56.180 Countrywide? Oh my God. Mazzelli used to walk around. He was the guy. Everybody respected him.

00:28:02.060 They went out of business. Companies that nobody thought was going to go out of business,

00:28:05.100 they went out of business during this time. New deal programs were cut and tax increased March 6,

00:28:11.180 1937 to 38. This lasted 13 months. Market dropped 55%. And the worst market crash, you already knew this,

00:28:18.100 from 1929 to 1932, lasted 34 months. Market dropped 89.2%. Look at the picture there. He says,

00:28:24.480 $100 will buy this car, must have cash, lost all on the stock market. How many people have played

00:28:30.700 aggressive with their money the last two years? You can answer this better than I can. It's a lot

00:28:35.180 of people. A lot of people have. So something's going to happen here. Now, the part that we have

00:28:41.040 to look at is a lot of time when we see this, oh, we see this negative, scary, bye-bye. You're scaring

00:28:46.000 people, Pat. No, I'm not trying to scare. I'm just telling you what comes after this. But you have to be

00:28:49.840 prepared for it. This is reality. Right afterwards, after World War II, look how long economic

00:28:56.340 expansion lasted. 81 months. That's seven years nearly. It lasted. Vietnam War era ended. Economic

00:29:04.820 expansion, 108 months. How much wealth do you think was made during that time? Reaganomics Cold War.

00:29:12.000 Reaganomics Cold War. Afterwards, economic expansion, 93 months. The tech bubble,

00:29:18.160 112 months afterwards. U.S. housing bubble, 74 months. COVID pandemic, 128 months is economic

00:29:26.960 expansion before those crises took place. This is a long time. The 128 months is the record,

00:29:31.800 by the way. Post-pandemic, 24 months. It's still going today. So these things, if you are able to

00:29:37.420 weather the storm the next six to 24 months and you do it properly right afterwards, what history tells us

00:29:44.480 is economic expansions around the corner. And that's when all of a sudden we hear the next

00:29:48.720 success stories of people who did it the right way. Buffett has done this so many times in his career

00:29:55.860 and he knows what season this is. And everybody was criticizing him on sitting on cash last year.

00:30:01.580 And now Buffett's going to be able to buy a lot of stocks on sale because he's got access to a lot

00:30:05.600 of capital, a lot of cash. So GE got started in 1908. This is what happens during market crashes and

00:30:11.480 recessions. They got started during a recession. HP, Hill Packard, during World War II, recession.

00:30:18.120 Hyatt, recession. Microsoft, recession. Uber, Airbnb, a lot of these companies, Slack, again,

00:30:24.680 recession. So as scary as it may be, some of you that are watching this, you're taking notes and

00:30:30.660 you're getting excited, not in a negative way, but in a positive way to say, okay, I want to go and

00:30:36.100 make this my season for my family. I want to go light it up. Perfect. This is your season.

00:30:40.720 This is your time to go out there and capitalize with what's going on. So why are recessions a good

00:30:44.900 time to start a business? Less competition, all in mentality, access to talent, talent is prices,

00:30:51.100 a real market value, better rates, rent, vendors, et cetera. And by the way, this is just you and I

00:30:58.400 talking. Nobody else is around. It's just me and you right here talking. Tell me you've worked very

00:31:03.620 hard the last two and a half years. The last two years have not been the hardest working years of

00:31:08.100 American workers. We've not worked that hard. Many have worked from home. Many, like a couple

00:31:13.540 seasons, you stayed home and you got stimulus. Some of you that were working because you saw an

00:31:17.840 opportunity. But the last two years, America got lazier, okay? And because employers were afraid to

00:31:24.900 impose and challenge too much because they were losing people, anytime that happens, like, oh my God,

00:31:28.840 don't push him too hard. He wants to take Friday off, let him take Friday off. He wants to take the

00:31:32.560 week off and want to PTO and he doesn't want to do PTO, still wants to work from home on his vacation.

00:31:35.920 Let him do it. Let him do it. Let him do it. Yeah. The standards and the fears of the leaders has

00:31:41.140 caused people to be lazy the last two years. But guess what? The next two years, leaders are going

00:31:45.800 to have backbone because market's going to be on their side, okay? So you're going to see the next

00:31:50.540 two years. The workers are going to win. But if you don't work the next two years, you're going to be

00:31:56.020 exposed the next two years. Maybe you got away with it the last two years. You can't get away with it

00:31:59.780 the next two years. Everyone in the marketplace is going to have their camera on you, all eyes on you.

00:32:03.640 So meaning if you do it right, they're going to say, salute, you're a winner. If you don't do it

00:32:07.400 right, they're going to say, well, listen, we got to kind of let you go and move on. It's not a

00:32:10.660 message people want to hear, but it's just the reality of it. So eight, eight ways to prepare

00:32:14.320 for a market crash. Number one, anticipation. We talked about it earlier. Number two, risk tolerance.

00:32:18.940 Have a sit down with you and your wife or your husband or your family and say, what is my risk

00:32:23.100 tolerance? At what level am I willing to risk a little bit? Because this is a season that if you're able to

00:32:28.860 manage your risk properly, you can really come out stronger afterwards. But don't make any moves

00:32:35.080 if you can't tolerate risk based on your age, based on your tolerance period. Like yours, you may say,

00:32:41.340 I'm not the kind of guy that likes us. And don't play around if it's not part of your DNA.

00:32:45.920 But if you manage your risk properly the next six, 12, 24 months, you're going to come out in a,

00:32:50.700 you ought to come out in a good place right afterwards. Okay. Number three, carry cash. Cash is king.

00:32:55.240 Everybody says cash is trash. Cash is this. Ain't nobody saying cash is trash right now. Because

00:32:59.140 if you got cash, things are going to be on sale. Just so you know that. So, well, you know, the

00:33:02.720 dollar, if you would have kept it, it would have lost 8%. Okay, fine. Let's just say lost 8%.

00:33:06.800 The stocks lost 40% in the last five months. A lot of things are going to be on sale. And as low as

00:33:13.200 they are, I believe it's going to go lower. But if you have cash, a lot of opportunities are going to

00:33:16.780 come. Now, I'm not telling you 100% cash. You don't want to be 100%. Historically, it doesn't

00:33:20.800 benefit to be 100% cash because nobody can time perfectly how the market's going to do. But it

00:33:26.500 is a benefit for people who can go out there and use money to buy things on sale today. Many have

00:33:32.420 been preparing for this season to come. Cash will be king the next 24 months. Cash was not king the

00:33:37.280 last 24 months. Cash will be king the next 24 months. Avoid any major real estate deals unless

00:33:42.120 if you're going to be living in this house for 10 years. If you can avoid buying a house the next 6 to

00:33:45.720 12 months, I would do so. If you can. Again, if you're going to live in it, great. If you're not

00:33:50.420 going to live in it, hold off a little bit. You're probably going to buy it at a discounted rate

00:33:53.360 6 to 12 months from now. Have a serious business plan in place. 5% precious metals. This may be a

00:33:59.740 season where the people that are pro-gold, people will have an argument. Oh, I told you gold has done

00:34:04.220 this. Yeah, they may be right. Gold may hit 2,000, 2,500. So you may want to have a little bit of maybe

00:34:09.220 2 to 5% precious metals and some of the crypto is going to probably recover. But the precious metals may

00:34:15.320 be something for you to look at. Protect your career. What I mean by protecting your career is

00:34:18.480 a following. Whatever you're doing right now, recreate yourself today. Last two years, if you

00:34:25.460 really improved, nobody noticed. Last two years, if you read a lot of books and you were the person

00:34:30.520 that's sitting there taking courses and getting better and going to things, events and conferences,

00:34:34.620 nobody noticed. Nobody noticed because people who didn't do that made money. So the markets are

00:34:39.560 going, wow, look how smart that guy is. But you were working on yourself. Nobody noticed.

00:34:43.760 But today, if you work on yourself to recreate yourself in your company with the way you show

00:34:49.280 up, with your attitude, with being a person that's showing up, leading, working hard, improving,

00:34:55.140 challenging your peers, setting the right example, constantly getting better, reading, bringing

00:34:59.620 new ideas, bringing strategies, everyone's going to take notice the next two years. This

00:35:04.420 is your season. The people that are in that mode of wanting to improve themselves, the next

00:35:09.260 two years are your season. The last two years were not your season, just so you know.

00:35:12.580 Number eight, take a time out and study your portfolio. Good time to do that.

00:35:16.120 Ten steps to make millions during the market crash. Number one, monetize fear. There's

00:35:19.260 a lot of people that are afraid. What does this mean to you? People who wouldn't take a

00:35:23.260 meeting with you a year and a half ago, they're going to take the meeting with you.

00:35:27.580 We announced a Zoom that I was doing this market crash. Everything I'm doing with the PowerPoint

00:35:32.200 was on a private Zoom, private webinar that I did. You know how it was? So we said, yeah,

00:35:36.980 we're going to get a few thousand people like this. We're getting complaints on Instagram.

00:35:41.540 I'm trying to get on. I'm trying to get on. I'm trying. Yeah. Because the whole thing

00:35:44.240 was take thousands of people were on for an hour and a half. And afterwards, tens of thousands

00:35:51.500 of people signed on to want to see it. They keep wanting to see this. They're asking each

00:35:56.120 other, where is this? Where is that? Where is this? Can I get a pre-record? I miss this.

00:35:58.920 I miss that. I'm, you know why? Because people are wanting to listen today because they're

00:36:03.540 afraid. This message a year ago, no one was afraid. Everyone's Bitcoin was at 69,000.

00:36:09.900 Everyone's stock was killing it. Everyone's portfolio was awesome. Everyone's real estate

00:36:15.660 portfolio was awesome. Nobody was afraid. People are willing to listen. And those who are able

00:36:22.120 to win at the highest level are able to monetize fear. I'm a parent of four. You know, when my

00:36:27.720 kids listen to me and I can help them improve when they're a little bit afraid, when they're

00:36:32.100 cocky and they're not afraid, they don't listen. When they're a little bit afraid, I can give

00:36:34.960 counsel. They'll receive it. You were like that. I'm like that. It's called human nature.

00:36:38.720 Understand this concept where how fear works. Number two, the lazy, arrogant, over leverage

00:36:43.840 will be filtered out. It's unfortunate. So maybe you're watching this right now. You

00:36:46.580 don't like this comment I'm making. You're going to be filtered out. I hope you're ready

00:36:49.560 for it. So it means it's not too late to change. Start working, be humble and stop being over

00:36:54.780 leveraged. Okay. Cause winter is coming. Go. You have, it's not too late to shift, but those

00:36:59.580 of you that stay lazy, arrogant and over leverage, it's going to be a bad season for you next

00:37:02.680 two years. Become bankable. Meaning if you say you're going to do something, do

00:37:06.400 it. If you're going to say you're going to get on zoom, if you say you're going to go

00:37:09.860 do a meeting, if you say you're going to come through on a deadline, a number, a commitment,

00:37:14.320 do it. The market is currently desperately looking for leaders and people who say what

00:37:23.320 they're going to do. Period. Who say they're going to do what they're going to do. You do

00:37:29.820 that, the market is going to want to work with you because it's lacking right now. People

00:37:33.520 like that. Number four, strengthen numbers. Join a community. Like right now, we launched

00:37:40.260 our new website today, valutainment.com. We've been working on this for a while because

00:37:43.060 everyone's asking community, community, community. So we have a few different tiers. So we have

00:37:46.560 a private social network that we just announced where valutainers from around the world who

00:37:50.620 work together regularly. If you don't see them, if you go to the vault conference, you

00:37:53.520 know what I'm talking about. But if you're not, it's a social network we launched just for

00:37:57.280 valutainers that they can talk to each other. What strategy are you using? How are you using

00:38:00.280 with this? Can I get a refer for an accountant? What are you using with lawyers? How are you

00:38:03.520 guys handling it? What do you think about real estate thing? How are you guys handling the

00:38:05.580 creating content? What are you doing with this con podcast? What do you guys think about

00:38:08.840 this thumbnail? That community, join a community. If it's not ours, go join a community. Join

00:38:15.060 community because strength in numbers is when you're going through a season like this, it's

00:38:19.840 going to help you if there's other people that are also going through it, where their strategies

00:38:23.600 becomes your strategy. Your strategy that's working becomes their strategy. Join any community

00:38:29.500 of winners today. Don't be doing this as a loner. This is a wrong time to be a loner. This

00:38:36.240 is a wrong time to do this all by yourself. You're not going to win trying to do this by

00:38:39.920 yourself. You need to be part of a community. We're going to put the link below for the

00:38:42.960 vitamin community. You'll find out how to be a part of that. But anyways, if it's not

00:38:46.680 ours, go join a community. I believe our community is the best because they're fun, they're smart,

00:38:52.300 they're intelligent, they like to work together, and they're winners. So if you want to be around

00:38:55.700 environment like that, that's our community. That's valutainers. If that's you, you may want

00:38:59.140 to join our community valutainers. So strength in numbers, number five. And by the way, a part

00:39:02.780 with strength in numbers for me would be, last night I'm having a cigar with Matt and Mario

00:39:06.400 at the house in the backyard. We're having a cigar and we're watching the games like midnight,

00:39:10.240 1130, and Boston came back. Anyways, we're having a conversation together. And Matt's like,

00:39:17.240 hey, Pat, so what are you thinking about right now when you're talking about adding the next

00:39:19.700 zero? What's at the top of it? We're at Shooter's having dinner as well. He has that question

00:39:23.480 and the conversation continued to the house. I said one thing. He said, what? I said, recruiting.

00:39:27.160 What do you mean? I said, I'm in the game of recruiting because I believe in strength in

00:39:30.860 numbers. Recruiting talent, recruiting sales, recruiting investors, recruiting editors. I'm

00:39:36.660 recruiting salespeople. I'm recruiting executives, C-suites, hardcore executives, middle management.

00:39:42.580 I'm recruiting talent to start their podcast here with Byte Tim, and I'm recruiting C-suites

00:39:48.280 on my insurance company. I'm recruiting. All I'm doing is recruiting because anytime you want

00:39:53.620 to upgrade, like when I was single, you're recruiting a spouse if you're single. You're

00:39:57.040 recruiting friends. You're recruiting running mates. Strength in numbers is about recruiting

00:40:01.600 all of that. So you need to be in the right community to be able to recruit the right

00:40:04.980 kinds of people. Create a cause your company can really get behind. When I first got involved

00:40:10.400 in insurance, it was kind of like, yeah, I'm just selling insurance. It was more here.

00:40:13.300 Oh, money. There's a lot of money in insurance. I'm a 22-year-old guy, 21-year-old guy, so what

00:40:17.300 are you thinking about? Oh, money and all this stuff, right?

00:40:19.060 And then all of a sudden, I start making money, and I start to get the nice things that comes

00:40:24.560 with me. I'm traveling the world. I'm going to 30-plus countries, and I'm still 28 years

00:40:28.180 old. I'm going to all these different places. Oh, my God, I can't believe I've experienced

00:40:30.820 this. Okay, cool. And then all of a sudden, it hits me. I'm like, okay, now you got some

00:40:36.080 money in your bank. Now you got a girl you're dating that you wanted to date. Now you've traveled

00:40:41.360 the world. Now you've spoken in front of hundreds of thousands of people. Your dad's told you

00:40:45.820 he's proud of you. Your mom's told you she's proud of you. You've heard the magical

00:40:48.540 words. Now what? Because it was all logic. Logically, I was good. Emotionally, I wanted

00:40:54.860 fire. I wanted fire. I wanted to see fire in my eyes. All I saw was logic, so I started

00:41:03.160 trying to recruit the fire. In 08 was a very weird year for me. Men, when our age switches,

00:41:12.340 that nine is the scariest number in men's age. Sometimes women as well, but more men, meaning

00:41:17.540 19, scary because you're about to be 20. 29, scary because you're about to be 30. 29,

00:41:25.000 39, you're about to be 40. I was 29 in 08. And man, I was like right here. I'm like going

00:41:31.700 crazy. But I wanted to find something here. So I finally went and found my cause. And in

00:41:38.800 July of 15th, I was dressed as George Washington. My wife was dressed as Lady Liberty. I put an

00:41:45.860 event again in Palm Desert. And I got up and I said, we'll be saving America by bringing

00:41:50.740 back the free enterprise system and hope to American families. Capitalism caught my heart

00:41:55.520 because it allowed an average guy. I'm a regular guy. I don't have a four-year or a two-year.

00:42:00.160 It got a regular guy like me who almost went and did 20 years in the military because I didn't

00:42:04.780 see a way out. My life changed because of capitalism. I got the opportunity to compete with everybody

00:42:10.720 else. It was the ultimate great equalizer. And that allowed me to have my dad live in another

00:42:17.480 20 years. My dad just celebrated his 80th birthday. He had a heart attack at 44 years old while he was

00:42:22.380 in the waiting room. And his mother was in the hospital getting her heart checked out. He has

00:42:27.180 not 44 years. This was 1993, 1994. He's in a waiting room. He collapses. They do an open heart surgery.

00:42:34.200 You mean to tell me God gave me 10 more years of my dad in my life? You mean to tell me I got 15 more

00:42:39.500 years of my dad? He's 80 years old today. My kids have a relationship with him? I mean, that's

00:42:43.000 where this fire comes from. You got to find your fire. This moved me. I fell in love with what America

00:42:48.840 did to this guy. I've lived in Iran. I've lived in Germany. I've lived in a lot of different places.

00:42:52.860 I fell in love and I want to share this passion with the world, okay? So I come from a different

00:42:57.900 place and it happened in 08 during a recession. Look at the timing. My wife would be next to me in the

00:43:04.440 car. She was my girlfriend at the time. She's like, what is up with this guy? Man, you're like so

00:43:08.620 pissed off sometimes. You're like, what's going on with you? I'm trying to recruit my cause for the

00:43:14.140 rest of my life and I got it and it's been lit since 08. It's been 14 years now. You got to go

00:43:21.360 recruit your cause today. Don't take this lightly. I don't know what your cause is, but go find your

00:43:27.460 cause today. A cause that makes you responsible, a leader to perform, not a cause that makes you,

00:43:32.700 it's unfair, it's a victim, it's because of this. They don't see me. I don't care about that stuff.

00:43:36.600 I'm Middle Eastern and I started in this business and right after 9-11, what happened in 9-11?

00:43:41.260 Who did everybody look at 9-11? Middle Easterners. What do I look like? I'm Middle Eastern. So

00:43:44.280 imagine how many, I went on an appointment one time, a husband and wife said, so can I ask you

00:43:47.380 where you're from, sir? I said, I'm from Iran, born and raised in Iran and I'm saying it proudly.

00:43:52.300 We appreciate you being in our, I'll never forget this appointment. We appreciate you being in our

00:43:55.840 house and coming out here, but this may sound awkward and we hope you take that respectfully.

00:44:01.920 I said, yeah, sure. I'm 23 years old. Can you send somebody else to us? We're a little bit

00:44:06.800 uncomfortable doing business with somebody from Iran. I didn't walk away and cry about it. I walked

00:44:12.260 when I said, interesting. Well, I can't blame him. Look what just happened right there.

00:44:17.140 I can't blame him. First place they go is they think about somebody like that. Great. I sent somebody

00:44:21.300 else, they did a business with us, but I didn't sell it. I got the split commission on it.

00:44:24.540 I didn't go and cry to my mommy and my daddy. I'm a leader. You're a leader. So whatever you cause

00:44:30.720 come, you come out with, make sure it's a cause about you leading next cut the fat, cut the fat

00:44:35.440 with friends, cut the fat with negative peers, cut the fat with employees, coworkers, who you have

00:44:41.740 lunch with that. Every time you go and have lunch with these guys, they bitch. And you come back

00:44:45.340 having an argument with your boss. Your boss didn't do anything wrong. The people you had lunch with

00:44:49.360 did things wrong. They impose the hate in your boss that you came back and had a fight with your

00:44:54.000 boss that you actually get along with. Okay. The friends that you don't have arguments with your

00:45:00.120 girlfriend or your boyfriend or your husband or your wife, your friend who's so negative because all

00:45:04.160 he bitches about it is his wife or their husband. And that energy came to you and you came home that

00:45:09.340 night and you fought your wife or your husband, cut the fat, get rid of that person, cut the fat

00:45:16.360 and move on with that person. Okay. You got to do this at this time. Find your running mates,

00:45:20.620 double down on positive distractions in your life today. Positive distraction could be reading the

00:45:25.260 right books, watching the right documentaries, being in the right community, hanging out and

00:45:29.380 networking with the right killers, people that are doing big things. Killers to me are people that

00:45:32.980 are after it in the hunt. They're chasing something, right? These are people that are going to place,

00:45:37.820 be around them. Let them be your positive distraction in your life. Equip your team with all possible

00:45:43.020 audibles. If this happens, we're going to do this. If that happens, we're going to do this. But if this

00:45:47.840 happens, we're going to do this first, then this, then this, then this. And to prepare all of this,

00:45:52.220 we're going to buy this software. We're going to hire this person and we're going to invest into

00:45:55.480 this. That's how you prepare and call audibles and equip all your team for that. Last but not least,

00:46:00.320 number 10, increase your level of urgency. Don't move slowly. Move ASAP. Number one last piece of

00:46:04.740 advice I'll give you before we wrap up here as we're going through this. So I said this earlier when I

00:46:11.440 said strength in numbers, don't do this alone. Go find a community. I'm a byproduct of that.

00:46:19.960 I was fortunate enough to be in a good community in the army. I'm still friends with those guys till

00:46:24.860 today. I was good for them. They were good for me. Many of them became one and one at the highest

00:46:32.580 level in a different field because we were part of a strong community. There's strength in numbers,

00:46:37.520 okay? While you're going through this, don't do this alone. Have this video. Watch it with your

00:46:43.480 husband and your wife. If you're married, don't make these decisions without. Ask your wife,

00:46:46.860 babe, can you watch this with me? Honey, watch this with me. Have your running mates, people that are

00:46:53.500 your business partners, watch this together. What's our strategy next moving forward? What do we want to

00:46:58.840 do moving forward? What is my game plan? When I went through this, I'm like, I'm going to this

00:47:03.080 conference. I'm attending this. I'm going to that. It's 2014, 2015. I'm clueless what it is to be a CEO.

00:47:09.200 I'm a great salesperson. I'm a great sales leader. I'm a great leader, but I'm not a CEO. I don't know

00:47:14.360 what it was to be a CEO. What do I do? I spend $49,000. I go to a Harvard owner, president of

00:47:19.640 management program. I can't tell you anything I remember from what the instructor said, but I remember

00:47:23.420 vividly, the guy sat next to me was the CEO and the founder of the lingerie company, the Victoria

00:47:28.200 Secret of New Zealand and Australia. He had 6,000 employees, seven CEOs that reported to him, some

00:47:33.160 number like that, and all he did is coach me on how to be a CEO those three weeks. That $49,000 worth

00:47:39.700 was $50 million for me on what I made. I didn't want to go through it by myself. I was in a room of

00:47:45.000 144 other C-suites, CEOs and founders from 64 different countries. We were together. There's a

00:47:50.780 community. Get around a community of people to learn how to do this with them. There are mistakes

00:47:56.220 they're going to share with you. Don't do this. Here's what I went through it. So don't try to go

00:47:59.380 through this by yourself. And I will say, just like the story I told when I went from a hundred

00:48:03.640 thousand to a million dollars or 10 million to a hundred million to all this stuff, let this be

00:48:07.240 the beginning season where you're going to be sharing this story with others as well. There's

00:48:10.220 a lot of people doing it. It's nothing special about me. There's many people like me out there,

00:48:13.800 by the way, many people like me out there that are winning. Why not you winning at this level?

00:48:18.600 Why not you making a decision today? You could be watching this in the toilet. You could be in the car

00:48:22.720 right now listening to this. You could be in the living, watching it for a second, third time.

00:48:26.520 You could be anywhere right now watching this saying, this is my season I'm going. And then

00:48:31.040 go light it up. Just stop trying to do it as a loner all by yourself. Find the community,

00:48:37.500 find the right running mate. So a couple of things I want to wrap up with. Number one,

00:48:40.760 join the Viettame community that we have. To be part of the Viettame community, we'll put the link

00:48:45.500 below, whatever it's going to be. It's going to be on Viettame.com to go work with our community.

00:48:50.340 By the way, today's PowerPoint that I just gave you, I don't know how many slides it is. Oh,

00:48:54.360 it's 60 slides. If you want to get the slides, we'll give it to you for free. Click on the link

00:48:58.500 below to go subscribe to our newsletter to get started. And you can do that and we'll give it

00:49:03.080 to you for free on the PDF or the PowerPoint. And if you want to join our community, you'll see the

00:49:07.360 different options to join the Viettame community as well. But I can't wait to hear your stories about

00:49:12.760 this. I can't wait to hear your success stories about this. I can't wait to hear from you directly in our

00:49:17.920 community. There's private webinars that I do in our community. I can't wait to hear more feedback

00:49:22.420 about what your biggest takeaway from this video was. And if it was extremely valuable to you after

00:49:27.680 you watch this video, share this video with somebody else. Give us a subscribe button. Give

00:49:32.120 us a thumbs up and share this with somebody else. But whatever you do during this season, make sure

00:49:37.320 you take massive action because God knows the next 6, 12, 24 months definitely demand that type of

00:49:46.960 action. Take care, everybody. Bye-bye, bye-bye, bye-bye.

Valuetainment - June 20, 2022

WARNING! The Biggest Market Crash Of Our Generation Is Here

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