TONY ROBBINS - His SECRETS Revealed!

22:47COVID's four years destroyed engagement more than any time in the history of the measurements at levels no one could even dream of. The one that grew the most was active disengagement. People actually angry trying to mess up the company. We did in six days. They're doing a one-year study. Most studies like this are a month to three months. Largest one they've ever done, 750 people. At the end of the six days, update with Destiny, five and a half days, every single person was higher than they were before COVID, meaning their engagement was through the roof. But what was really cool is they're measuring it.

23:20The year ends this month. But I saw the six-month review. Every month, they increased their engagement and their effectiveness. And I never spoke to them again. I never saw them again. Why? Because it's in their biochemistry. Why? because they have whole new filters in their brain. So you can do it through incantations or you can do it through some form of immersion. They took the best professor at Stanford, won all these awards, had him teach my exact content as a contrast group, word for word, but without the things I do to change biochemistry. And he's still got 300 % increases in retention that he's never seen before on the content.

23:55But mine was 3000%, right? And his wore off after, I think it was eight weeks and mine a year later was still producing the results. So there is a science to changing your conditioning. So you can do it rote by incantation, do it rote by having new rituals. There's so many ways you can do it. But the most powerful way I know of is total immersion where we engage your biochemistry and your emotion. And what's so cool about it is time disappears. You know, when you ask people, what's a long time? Some people say a century, some people say two minutes, right? A long time is anytime you're not enjoying yourself.

24:28You know, a minute can feel like eternity if it's a horrible experience. But if you're having a great time, time disappears. And you know, even the events, we go 12 hours a day, literally around the world. When I'm doing my events here, like the last event I just did here, Date with Destiny, we had people in 195 countries. So it's every country in the world. We had like, we'd start here at 10 a.m. It's already midnight in Australia. They go from midnight to about one in the afternoon for six straight days in a row. And we lost 1 % of the people, give you an idea. It's that engaging, right? They're in a whole different time zone.

25:01It doesn't matter. They're in the zone and our biochemistry has changed. And so that's why I love books. But the reason I still do seminars is because there's nothing like an immersion experience like that. And now people can do it from anywhere on earth or they can come in person and do it too because now that COVID's over, we do both. Yeah. And that's, by the way, this event at jointony100.com, I want you to go. That's because you have immersion over three days. Here's what I just want you all to do. So I'll give you my simple language from that. Success, bliss, achievement, ecstasy is a biochemistry.

25:32It's a neurochemistry and a biochemistry. And so if you want to find those states of being, it's a biochemistry. And so just for a lot of you, something really simple to do, when you're training physically, if you work out, you run, you walk, these are times where you should be anchoring your goals and your visions of your life when you're in that elevated state of neuro and biochemistry. It's just a much more powerful anchoring and conditioning for you to create a change in your life. And so elevated emotional or physical states and anchoring the things that you want in your life, your visions and your goals and your ambitions.

26:06Now you're anchoring the biochemistry and the neurochemistry. The likelihood of those things happening and repeating themselves becomes that much higher. This is important stuff for you guys. I want to navigate. It's an interesting conversation because we're going to navigate our inner world and our lives and money in this conversation today. As you described, Peter Diamantis, your dear friend, was not on very long ago. It was just a few weeks ago. Peter was on. We were talking about exactly what you're talking about, life extension. And if you can stick around another 20 or 30 years, you may get an additional 20, 30, 40 years on the back end of your life, which is great.

26:36But the other thing I think about is it means you need more money. If you're going to live longer, you've got to have more money. If you're going to be living to eight, I mean, if people pass away now in their mid-70s and that the potential that many of you that are listening to this in your 30s and 40s or 50s will live past 100 and maybe significantly past 100, this financial question becomes even more paramount in people's lives because you're going to need more of it to live. And so I want to start out with some basic things that you teach, and then we're going to get some pretty complicated, not complicated, but sophisticated, interesting stuff, everybody.

27:08So first things first is you kind of have these four, what I'd call basic principles regarding money that I think most people aren't familiar with. I mean, the conversation, you're not taught it in school, you're not taught it in college. It's not taught in most families. But I love these principles, everything from the diversification to asset allocation. Why don't you just start with that, Tony? Just illustrate kind of the framework of having a financial education or some financial sets. Well, first, I'd say the biggest challenge for most Americans is they are not owners, right? Most Americans are consumers.

27:43We have all this advertising to consume, consume. So So if you're going to own an iPhone, maybe you want to own Apple because that iPhone is going down in value and you're going to get a new one. Why not own the company? I'm not saying you got to buy Apple. I'm just giving you an example. Become an owner. Become an owner. You got to do something very basic. Everybody spends all the money they have and you have to make one discipline and make the decision that says, I'm going to create a freedom fund, whatever age I am. I'm not going to wait until it's too late. And I'm going to take 10 or 15 % or whatever percentage of my income and never see it.

28:13I'm going to arrange it to automatically go into an account, and then I'll figure out how to invest it. But I got to not see it, because as long as you don't do that, you're not going to get where you want to go. There's a guy that I talk about in one of my early books who worked for UPS. Theodore Johnson's his name. He never made more than$14 ,000 a year and retired with$70 million. How is that humanly possible? Because one of his friends said, we're going to make you wealthy in your long term. He goes, I'll never be wealthy. I make$14 ,000 a year. He goes, you're going to be wealthy. We're going to take 20 % of what you earn, put it aside and invest it, which by the way, he put it in UPS primarily.

28:49He was a driver, but later became, you know, a low level executive and people loved him. He loved delivering and people love the state he put them in. They look forward to seeing him, but 20 % he goes, I can't do that. I can't live on what I have. And the guy said, if the government passed a law and said, you had to pay 20 % more taxes, you'd scream, you'd yell and you'd pay it. So you got to set a number in and automate it. And then where do you put it? Interjection on that. Just interjection real quick. I want you to keep going. This is a really important point, guys. You guys know that I built a financial company for 30 years.

29:16Yes. And here's the false belief system, and I'm going to let Tony rip through this because it's awesome. People think, once I get around to making a lot of money, then I'll start saving this 10 % or 20%. Here's what my experience is. If you can't begin to save money, even when you're at a lower income level, you will not do it ultimately when you make more money. You'll upgrade from the Honda to the Lexus. You'll upgrade from the apartment to the condo. And then when you make a little bit more, you go from the condo to the single family residence, the Lexus to the Mercedes, and you never get around to having that money you never see end up in savings and investments.

29:49So it's critical you begin to find a way to do that at any level of income somehow, some way. Go for it. Back to you on that. And if you do it in the early days, I mean, if you're a kid and you put aside$300 a month because you've got low overhead out of your money, you can start that at 17. And because of compounding, you could stop that literally at, you know, if you start at 17, you could stop at 27. And you put very little money in and it'll grow to almost$2 million if it just put it in the stock market, an 8 % compounded return. If you wait till you're 27 to start, you're going to have to invest till you're 65 and you'll still have less money.

30:26So the sooner you start, the better. Also, your point also relates to philanthropy. People go, you know, yeah, I'll give money when I'm rich. One thing I figured out early on, if you won't give a dime out of a dollar, you're not going to give 10 million out of 100 million or a billion out of 10 million. And so when you do that, by the way, you teach your brain there's more than enough. So that's the philosophical part. When I did, I've done three books, two of them, the third one's just now coming out, but both the other two are number one New York Times bestseller. So the first one was Money Master the Game, then Unshakeable.

30:55And when I was doing those books, I went and interviewed. None of it was my opinion. I said, let me interview the smartest people in the world financially, the Ray Dalios, the Carl Icons, the Warren Buffetts, the Paul Tudor Joneses. And I knew a lot in this area. I've coached Paul Tudor Jones, one of the top 10 traders in history for 25 years now, I think it is, 24 years, something like that. And so I've seen every day what he does all those times, coached him. I knew a lot. But when I interviewed these people, they're all different. it. And I was looking for what do they do in common that makes them wealthy?

31:25I knew that all self-made billionaires, nobody from the Lucky Sperm Club. And there were four core things they all agreed on, even if they did completely different types of investing. The first core principle is different. It's so simple, different than most investors. The best investors are focused on not losing money. If you ask Warren Buffett, he has this famous two rules. Step one, he said, rule number one to investing, don't lose money. Rule number two, see rule number one, Now that's easy to say, but most people are like, what kind of return am I going to get? The way they don't lose money is the second key.

31:56When I interviewed all of them, they all agree on one thing. There's only a few things you can manipulate to make more money. You can make better choices like which stocks or bonds or real estate or whatever to invest in. You can have better timing. And then there's asset allocation. And when I interviewed David Swenson from Yale, he took them from$1 billion in their entire century of development, he grew their annuity to$31 billion during his time there. It's unbelievable what he did. He said, Tony, you're going to be wrong. How smart you are about picking the right stock or bond, you're going to be wrong, and you're going to be wrong on timing.

32:30The only thing, 95 % of your investment returns are based on what he called asset allocation, and they all agree with that. It means if I'm going to invest$1 ,000,$10 ,000,$1 million, whatever it is, I need to in advance have a plan of what percentage am I going to put in low-risk environments where I'm going to have low risk, but low return, but it's steady. It's like the turtle. And then I'm going to have some that are environments where there's more risk, but there's the potential for upside. And then how I diversify that to protect myself, not all my eggs in one basket, it's going to be critical.

33:01Most people know that. Well, these guys have developed very specific asset allocations. And one of the things that happened when I went to go write this book, this third book, I decided I was going to look at a different type of investment, which we'll talk about in a minute, which is private equity, private real estate, private credit. And when I did that, I interviewed some of the smartest people alive in this area. And I found out by doing my research, KKR, other people show that extremely high net worth people have a completely different asset allocation than the average person. They have 46 % of their money, not in stocks, not in bonds, not in REITs, but in private real estate, private credit.

33:41And the biggest one is private equity. And so it's like knowing the formula. Third, third piece is really important. These guys are all smart enough to know you don't take giant risks because if you have a stock worth$100 or$100 ,000 and it drops 50%, you have to make 100 % to get even. If 100 ,000 drops to 50 and you grow it back 50, you only have$75 ,000. So they understand this. So they always look at risk differently than most of us. They look to see how they can get asymmetrical risk reward. That's a big word. It means how do I take the least risk with the most upside. So Paul Tudor Jones, I've coached for this, you know, basically quarter of a century almost.

34:22And with Paul, his whole philosophy is I don't want to make an investment. I may be wrong, but I'm going to believe that I can make, I'm going to risk a dollar to make five, not risk a dollar to make 10 % or 20 % like most people. I'm looking for a five to one. That way, if I'm wrong, I can risk another dollar. I still make four. He can be wrong four times out of five and break even. So that puts the game totally in a different place. And so the problem is most people know where to find asymmetrical risk reward. So I look for those places to show them. And then the final one is the one we all know, diversification.

34:55You want to not put all your eggs in one basket. Diversification is the only free lunch. And that diversification means diversifying, not putting all your money in one stock, not putting all your money in stocks. So it's not just the type of investment, the category, or you don't buy one piece of real estate. You got to diversify locations, elements. You got to diversify across timelines. So diversification is great. So all these guys agreed to those four. So I was thrilled with what I did. I'm Money Master of the Games, the most successful financial book of the last 24 years of the century, 23 years.

35:27So I'm proud of it. And Unshakeable also exploded. But what I was fascinated by was people are so crunched right now. The biggest question people are asking is like, how do I get those returns? And so, you know, for years, bonds were so low, everybody put all their money in the stock market. And, you know, for the most time they got by with it, a few times there were significant drops, but it's only a matter of time before the system balances out. Now bonds have raised, right? And we've seen that you can get some returns on bonds in the 5 % range pretty easily. But most people need more of that kind of return, a larger rate to get to where they want to be financially.

36:03So this is the part most people don't know. 35 out of last 35 years, private equity, which is companies that have their own money that invest in companies, they buy a piece of the company or all the company, they change the CEO, they change the marketing, they grow it. They don't just buy something hoping it'll go up. They make it better. And then they sell it from multiple of the growth they got to a larger company or they take it public. 35 out of 35 years across the world, private equity, average private equity has outdone every stock market in the world. So I'll give you an example. In the US, for the last 35 years, the S &P 500 has given a 9.2 % return.

36:44So you're compounding your money on average 9.2%, which is damn good. But private equity, average private equity, not the guys I've got in this book, right? These guys, by the way, averaged 20 % or more for decades, continuously compounding. It's mind boggling what they do because it's a totally different approach. And they don't have to sell when the market goes up and down. So when it goes down, they buy. When it goes up, they sell because the money's usually locked up for about five years in most of these situations. So they have cashflow. They're in great shape. Anyway, think of this, 9.2 % private equity average ones are 14.2%.

37:17Now let me explain what that means. The average investor may not understand. That's 50 % greater returns every year, compounded year after year. So let me help you understand what that means. If you take a round number, a million dollars, you put in the stock market 35 years ago in the S &P 500, it's worth$26 million today. If you never did another thing, it's pretty unbelievable. But if you put it in private equity, it's worth$139 million right now. That's why ultra high net worth people have almost half of their money in private equity and only 29 % in public equities. Public equities are still important.

37:55They give you liquidity. You've got access to great companies. It's fantastic. It's not like you get rid of it, but they complement each other, but higher net worth people know this is where I'm going to get the better returns. You got to fish where the fish are. And so that's why I got myself involved in this new book because there's so much more than that in this area, but just to give you a little feeling for it, tasteful. There's also so much more than that in the book, by the way, everybody. And why does this matter? Because we're going to get to your life stuff and mindset stuff. I know all of you are like, hey, you have Tony Robbins on there, Ed.

38:24You guys, the two of you better be talking about that, which we're going to in a minute. Why is this relevant? I'm so thrilled that you, many years ago, started writing these books, this trilogy. And here's the reason why. It's very difficult to have some element of control over your life if you're not trying to exert some type of control over the financial piece of your life. So we're always talking about our minds and our bodies in the personal development space. And Tony was obviously the first person, the most cutting edge person to do that. But there are other elements in our life. And if you're out of control financially and you live that way for years and years and years and years, it has an impact on the other elements of your life.

39:03And so understanding these parts of – it's the part of the success piece of the puzzle that's almost never discussed because it's that thing we're going to get around to doing eventually. That's like saying I'm going to get my mindset right and I'm going to get around to getting my body together. We all know they're correlated and vice versa. So when we talk about this, Tony, there's something you said in the book that I actually want to ask you for my own edification because I don't know. private equity has been reserved for the wealthy for many many years and in the book you allude to the fact that there may be there was legislation pending that may allow eventually unaccredited investors to participate it was a bipartisan type submission has that happened yet and if it hasn't happened yet what's the likelihood that it will well it's already passed the house and it was bipartisan and when they come back from the holiday they're going to vote on the senate and there's bipartisan support.

39:58And what it does for the people unaware of this, these investments are the biggest returns you can get, but you have to have a special status to go there. It's like only the most wealthy people get access. It's so unfair. And so what's interesting is they say, well, because you got to be sophisticated. Well, no, you just have to understand how it works. But what's interesting is you might be wealthy because you built the business and sold it. That doesn't make you a sophisticated investor. So the new rules are that passed by the house. The Senate looks like it's going to as well. And the new rules are simple.

40:27You take a test and you become an accredited investor. Normally you have to have a million dollar net worth or$200 ,000 a year in income or 300 ,000 per couple for you to be an accredited investor, which gives you access to some of these. And then there's another level, which is a qualified purchaser, which is$10 million of investable assets, not counting your home and count your business. So those things have limited who has access. But even if you have money, it's worse than that. Think of it this way. It's kind of like the velvet rope to the best clubs. You know, you're out front and somebody wants to get in because it's the club to get in.

40:59These firms have such great returns that it's like buying an exotic car or the velvet rope. You know, it's like they're all gone right away. The pension funds get them, the wealthiest people in the world get them, right? The family offices get them. And so I, you know, because I had relationships, got access to a few of them, but I was frustrated. I couldn't even get in. And then I didn't matter whether I was qualified or not. I couldn't get past the velvet rope. You're out in the cold with your money. It doesn't matter. You can't do it. But here's the breakthrough. So I'm coaching Paul Tudor.

41:30I got to know one of Paul Tudor's partners who eventually started his own firm. And we were talking one day and I was talking about the unbelievable returns that come from these private equity, private credit, private real estate type firms. And I'm frustrated because every time I want to get into one, I can't get into it or I get this really tiny any allocation that I can get in with, right? Not me. And he goes, Tony, he said, and he kind of dropped down almost to a whisper. And he goes, brother to brother, I should probably tell you where most of my money goes. And I said, well, great. I kind of leaned in.

42:01I mean, this is a brilliant financial guy, right? He goes, did you know that the word they use when you invest in these firms, they call you a limited partner, an LP. And if you own the firm, well, you own all the funds, you're the owner of the firm, you're a CEO, CFO, you're in the C-suite, that type of thing. Then you're an owner. Well, the owners, they don't just make what the fund makes. They make 2 % on every dollar you give them and it's tied up for five years so that they have liquidity. So the market goes up and down. They don't have to worry about that. They can make sure they give you the best return.

42:32So you tie up your funds for a little longer for a better return. Well, they get 2 % a year, whether you make money or not. And then when they grow it, they get 20 % of the upside. And that's standard in the industry. So picture this. Everybody loves guaranteed cashflow. He goes, you know, Tony, these are the wealthiest people in the world. If you go to the fortune 400 and you say, who are the richest people in the world? Are they in tech? Are they in real estate? No, they're financial services guys. And they're not hedge fund guys because they go up and down some of them, but very few. It's the private equity guys.

43:05And he goes, so here, cause they're making the two and 20. So imagine this, you have a billion dollars and you're making$20 million a year guaranteed fees for five years,$100 million guaranteed. If they take their billion dollar firm and they raise it to 2 billion, they grow it over those five years, they get 20 % of the upside. That means they made 100 million in fees, 200 million upside, that's 300 million on initial billion dollar investment. Now I have one firm I invested in when we started with them, they had 13 billion. They have 100 billion now. So they're making 2 billion a year in fees alone to give you an idea.

43:37I get that too in 20. He said, you can become a partial owner of the general partnership. And like I said, I've got 65 firms now that I own two and 20 on. So I am literally a GP. I'm right beside them. And I get about 10 % a year in income. They vary from 5 % to 10%, but about 10 % of income. And they get the growth in the business. And if they ever sell the business, I get a multiple on the business. So this is like one of those almost unknown secrets. It's even most wealthy people I know are unaware of this. When they hear this, they go crazy because it's the firm they're trying to get in, but now they own it.

44:12And I don't just own that fund. You get diversification. I get the funds they invested when there was low inflation. I get the funds that they're investing in now. I get the funds they invest in the future. It's a wild opportunity. So that's just one of them in the book. Another one is sports teams. I worked till I became fairly wealthy, and then I wanted to buy a sports team. The first team I got in was the LAFC football club because we're starting it out. I was one of the original owners that started up and, you know, we won a national championship. It was pretty cool, but the growth and it's been fun.

44:43It's been great. But I went through a year's microscope to qualify to do that. And you got to put some serious money on the line, right? To own a team, a piece of a team. Well, there's new rules that have been changed in the last three, four years. And if you have the right firm, there's only a few that do it. You can own multiple sports teams, small slices of them. And here's why that's valuable. The S &P 500, the last 10 years, has had a great run, 11 % compounded just in the last 10 years. It's 18 % for Major League Baseball, NBA, NHL, and soccer combined. To give you the idea, Michael Jordan bought the piece of the Hornets, what was it, 13 years ago, I think, 12, 13 years ago.

45:22He paid$325 million. He just sold it for$3 billion, right? My friend Peter Guber bought the LA Dodgers a few years back with a couple of partners, Magic Johnson, a couple other guys. and they paid$2 billion for the LA Dodgers. Now, no one had paid even a billion. The most ever been spent on a baseball team was$850 million. Everybody said he's insane. They've overpaid at least a billion dollars. And I called Peter, he's my friend and partner, and I said, Peter, you're no dummy. I hear what everybody's saying. I know that you know something no one's telling you. And he's made 52 Academy Award-nominated movies.

45:53He's a genius. And so I said, he said, I'm going to leave you on. He said, we're dear friends, but he goes, I want to leave you in suspense. I'm going to make an announcement next week. as soon as you hear it, call me and we'll laugh our tails off together. Sure enough, the next week they announce he bought it for$2 billion. He sold the local, not the national rights. You get a piece of every team's, an equal piece of every team's media. It's pretty cool. But the local you own. He sold the local rights for the Dodgers television for$7 billion. He made$5 billion immediately. So they're not just butts in seats anymore.

46:27They're media companies. 92 % of the top 100 shows last year were sports shows in terms of viewership. And it's great because they don't have to, like, to make a series on Netflix, you got to buy the actors. You just set up your cameras and you shoot and you're ready to go. And everybody watches because of cord cutting. They still watch and they'll still watch the ads. So it's an incredibly lucrative business. Imagine it's a legal monopoly. You own that business. No one can compete with you in those cities. And you have fanatics. That's what fans comes from, fanatics. fanatical customers who, when you charge more for the, you know, inflation goes up and you pay 10 bucks for a hot dog, people pay it.

47:06And they've been coming back for generations. It's an unbelievable business. The third opportunity real fast, you know, bonds. Bonds have produced nothing up until this massive increase in the interest rates we've gone through that's been devastating for many banks that were holding onto bonds, right? Well, in 2021, people were so starving for income from a bond that the junk bonds went crazy. There was this explosion in people buying junk bonds because they could make 3.9 % instead of like 1 % or 2%. And this has taken big risk to make less than 4%. I was making 9 % on private credit the entire time with less risk.

47:48And so private credit is because banks, you saw what happened in Silicon Valley, right banks banks are tightened up and they don't loan as much so companies that are anywhere from 100 million to say three to four billion there's 200 000 companies like that in the united states that are borrowing money all the time and who they borrow from is private credit but here's what's interesting if you don't know private credit i can give it to you in a metaphor if you had a house right now and you got a mortgage rate at say three percent or four percent whatever back then, and it was fixed, you don't care that the interest rates went up.

48:22You're doing great. But if it's readjust, if it's a floating rate, you could be in trouble. Well, all these business loans are floating rate. So these private credit firms loan money at five and 6%. That's what business was borrowing at. And guess what? When the interest rates went up, they float with it. So now they're paying 11 % plus. It's the same loan. It's the same time period, but you just doubled or tripled in some cases your income stream when you own the private credit. Plus, I get the two in 20. So it's like, you don't have to get rid of your bonds. These are a complement to your bonds, but they're two to three times higher returns.

49:01There's the energy industry. I might go on and on and on. So here's the most important part though. The reason it's called the holy grail to investing is because I interviewed Ray Dalio 10 years ago. Now we've become good friends over the years. And I asked him a simple question. I said, the most successful investor in history, he's got, his fund manages Bridgewater almost$200 billion in business. They do it for countries even. And I said, you've got the best track record out there. What is the single most important investment principle that any investor needs to know? He goes, Tony, you know the importance of diversification, but people think of that in general, don't put too many eggs in one basket.

49:41He said, I turned that into a science of saying, how do I get the ACE from that square square? How do I have the least amount of risk and the most amount of upside? And he said, I found out it's simply this. He called it the holy grail. He goes, the holy grail of investing is to find eight to 12 uncorrelated investments. Now, uncorrelated, just so everybody understands, stocks and bonds usually have been uncorrelated. The idea that people put you in like 60 % stocks and 40 % bonds is that, okay, when stocks go down, bonds will make up for it or vice versa. Well, the only problem with that is during really rough times like 2020, they both went down equally.

50:162008, huge drops. And then your broker will tell you, gosh, no one could foresee this. It happens every time. You can foresee it. But they don't foresee it is what they're really saying, right? So he said, look, you find eight to 12 uncorrelated investments, you reduce your risk 80 % and you increase your upside. You are protecting yourself while lowering your risk and increasing your return. So it's like taking those core four and putting them on steroids that I told you. Yeah, you guys, here's the value of all of this. I want to just stamp this for a second too, okay? It's the holy grail of investing.

50:52You need to go get it or pre-order it now. It wasn't until I was worth nine figures that I knew what private equity was. And then I'd still, I remember the day I finally got involved in one, like you said, it was like waiting for the rope at the club, right? And so I can just validate these things. It's public information that I was a part of the group trying to buy the Mets that we lost out to Cohen. I wanted to get involved in Major League Baseball. We were the runner-up to that group. Private real estate. I've even done some bridge loan investing stuff that's private as well. This is the first book, honestly, I've ever read that does let you peer into what the mega wealthy and mega successful are doing and gives you access to the information.

51:33I have literally never read a book like this before. and I can tell you that it took me until I have never. I'm grateful you wrote it. I'm grateful we're talking about it because I was 45 years old and worth multiple nine figures before any of these things were even ever explained to me. And so if I could have known this earlier in my journey, you guys, it would be a game changer. And just imagine this, just being armed with this knowledge, the confidence that it would give you that you can win in your life. And that's just part of the game. I think most of us feel like the game is kind of rigged against us.

52:07And to some extent, you're right. There's been lots of places you haven't had access to that this book will at least enlighten you as to where to go get that access and to have an education regarding it. In private credit, do you know what their dropout ratio is of loans that go bad? Less than 1%. Any bank would die for that because they don't sell those loans. The delinquency rate's 1%. That's awesome. Their money is on the line. They don't sell the loans off. So they're very picky about who they pick and they've got great leverage in terms of those relationships. And the other part you got to know is literally everything is moving towards alternative investments.

52:42If you don't know about these things, how are you ever going to take advantage? And then you think, like you said, the system's rigged against you. It is unless you educate yourself. If you educate yourself, I didn't learn about most of these things till I was 48 years old. And like you said, it's hard to get into some of these pieces to make happen. Now, this is the democratization of alternative investments. And here's the other problem you got to know. 1996, there are 8 ,000 stocks you could pick from in the US. There's only 3 ,600 now. If you look at the S &P, if you look at the Russell 2000, 40 % of those firms are not profitable.

53:1740 % don't make money. So people are basically betting in these environments, hoping in these environments. So I love being side by side as a partner with some of the smartest people in the world. So for example, if you go to Robert Smith at Vista, he does SaaS, right? Software as a service. He has built a system so he can take any company on, give them the right coaching, knows what to do to grow them. It's like a cookie cutter. He grows them, expands them, sells them for huge profit, goes to the next one. These people in this area, what I love about it is they're adding value. It isn't just a hope and a bet.

53:53It's like, we're going to take this company on and we're going to find a way to make a better, stronger, more valuable. And then we're going to get a piece of that upside. That has been my whole philosophy in life is do more for others than anybody else does. Add more value and you'll prosper. But you can't prosper if you're unaware of it. And by the way, the book, I don't know when people will be hearing this, but the book, February 13 gets released. But if you go pre-order it and then you go to theholygrailinvesting.com, holygrailinvesting.com, there's a website there. If you just give your digital receipt, I'll give you the first chapter today on audio that you can listen to immediately.

54:29And it already gives you some of the tools that will blow your mind so you don't have to wait. It's very cool, you guys. And by the way, I know a lot of you, your only viewpoint of this kind of stuff is like Gordon Gekko from the days when they destroy these companies. And I'm going to tell you right now, it's not how private equity works now. As Tony said, they're making these companies better, more profitable. They execute for the consumer better as well. So everybody wins here for the most part. So let's shift gears because we're going to run out of time, and I want to make sure that we get a chance to cover it.

54:54You said something earlier about with the Russell 2000, 40 % are not doing anything. They're losing money, and we're sort of hoping. That hope is not a strategy. It's something I learned from you many, many years ago regarding life as well. I think more than ever, Tony, people feel a sense of – because you and I are in the same world. We coach some of the same people. We have the same sorts of people come to our events. More than ever, I feel like people feel like they can't get control over their lives. And that's why the financial piece is so important. And I'm wondering what your thoughts are if you were to give somebody counsel first coming to this event.

55:33But where would they begin? Obviously, I know you talk a lot about mind and body. You talk about having role models that are important. But I kind of turn the floor over to you. Someone's listening. They're like, hey, man, you know, I want to get control of my life. The money part? Awesome. What about my life? What about my emotions? What about my family? What would you say to them? I think the first thing you got to do is you got to create a compelling future. What I mean by that is anybody can deal with difficult today if they have a compelling tomorrow. Right now, there's so much fear in the world that people are afraid.

56:02I hear millennials talking about they don't want to have kids because they want to bring them this world that's such a terrible world. There's so much violence. There's less violence today in the world, even though we have this horrible war that's going on, two of them now. There's more than two, but the two that most people are familiar with, with obviously what's happening over there in Russia and Ukraine and also what's happening in Israel and Gaza. But we have less of that than we've ever had, even in the middle of this. But the fear is bigger. The promotion of it, the watching about it, the arguing about it, all that is enhanced by the way that we live today and the fears that are today.

56:34So what I tell people is you need to create a compelling future. You need to understand whether you're on the path or not. I mean, think about the hero's journey, just for a second. What is the hero's journey? You're living your life over and over, and it's boring. You can pick any great story of humanity, all the same stories. They're all the hero's story at some level. And then something disrupts it. Something creates a challenge. It's the call to become more. It's the call to go on adventure. You might have lost your job. You may have lost money. You may have been told you got cancer. You might have gone through a divorce.

57:05We look at it as it's horrific experience, but I've experienced, I know you have as well, multiple experiences. Someone telling me, you know, I buried, you know, three fathers and a mother. You know, I've been in a place where they said, hey, you got a tumor in your brain. You're not, you may not survive. I've been in those moments that were scary as hell, but they were calls to be able to grow. And then you go on the journey and as you go on the journey, it's amazing. When you commit to grow, when you commit to figure it out, you get yourself on that path. What's going to happen is you're going to meet mentors.

57:36You're going to meet people along the way that'll show up that can help you. and you're going to have to face your dragons. You're going to have to see what is it that is stopping you. So I look at it this way. The first step, if you want to make your relationship better or your business better or your emotion, anything that you value, your finances better, the first step to being on the path, am I on the path or not? Like the first one is, do you know what you really want? As simplistic as that is. Most people know what they don't want. And so where focus goes, energy flows. So the first step is like, what do I really want?

58:08why do I want it? Because the why is even more important than what. It's like New Year's, right? People set their goals or their New Year's resolutions and by February they're gone, right? They're already broken them because they just were expressing what they wanted, not why they wanted. They didn't get enough reasons to push themselves through and it's difficult and they didn't have a good plan. So the first thing is what I want, why do I want it? Who do I got to become to make that happen? And you get crystal clear. Now you're on the path. What's the second step of the path. Now you got to be honest.

58:36You got to get to the truth and tell yourself the truth about the gap. Because all of us have a gap between where we are and where we want to be. If you want to close that gap quickly, the only way to do it is to be honest. The truth sets you free. So you get clear, where am I really compared to where I want to be and why? What's prevented me in the past from losing that weight, from making that money, from having a relationship last, from growing that business. And there's only a few things that prevent you. It's fear. It's, and there's all kinds of fears, but fear. It's limiting beliefs. Well, I've never done it before.

59:10I don't know what to do. I'm not that kind of person. I don't know numbers. All my relationships end up, all the good ones are gone. Whatever the belief is, there's a limiting belief. There's a fear or there's some other primer emotion in the way, or it's a habit. Or the fifth one is you're missing a skill. Like learning to invest is a skill. If you don't take the time to learn it, you're going to be in pain, right? Because you're going to always be trying to earn it. And most people think, well, I'll make so much money that I'll never have to worry about when I hit the big thing. Well, the people that hit the big thing, the athletes, the entertainers, usually are broke 20 years later.

59:42You've seen it over and over and over again because they made the big dollars. They have the big overhead, but they never learned how to make money while they sleep. They never learned to be an owner, right? Or an investor. They just made income and no income Thomas, enough. Mike Tyson's a friend of mine. Mike made a billion dollars over his career, just short of a billion dollars, and lost it all. You know, I can give you 50 cent. 50 cent, made all this money. You bought Mike's house, and then he went broke. I'll give you an idea. You know, Elton John overspent and lost all the money he had. And unfortunately, he made it back eventually to make that happen.

1:00:19I mean, that is not the solution that you need. So if you really want to transform, you get on the path, figure out what's missing. Then what do you do? Now you come up with a quick plan. Not a perfect plan, but a quick plan to attack it with massive action. And then what do you do? Now you've got to face your dragons. You've got to make the changes that are necessary. Then you have some daily practices. There's like seven steps to this. You measure and you celebrate and you begin again. So I teach people the exact path. And if you're not on the path, it's scary. If you're not on the path to financial security or freedom, it's scary.

1:00:53If you're not on the path to quality relationship or you're on a path right now that's leading to pain, you better educate yourself. But you got to start with what you want and why you want it. Then you got to see what's wrong with you, not your partner. What's the challenge? What's the habit? What's the emotion? What's the triggers? Got to take a little action plan. You got to make the changes. And this process, the hero's journey is you go on the journey, you become more by facing these challenges. changes you learn and you grow and then you bring that back home and you experience you know the rewards of being the hero in your own life and that's in essence what people need to be able to do and it's not that hard because there's patterns there's certain patterns that work i don't care what the color of your skin is how old you are or young you are i don't care what your nationality is i don't care what gender you are or your sexual preference these are the laws of life if you understand the laws you align with them you do well so one of the reasons we do this three-day process is in three days for just two and a half, three hours a day, people are able to get clear what they want exactly in each of these areas.

1:01:54They get clear what's gotten in the way. They come up with their plan. They start to face their demons and they move the ball forward. And that's how you get the kind of results that we've seen people get that are just mind boggling. You know, the people that just came and spent three days with us. And if they want to go deeper, they can go to some other event, but we don't hold it back. It's not partially free. It's totally free. And I encourage people not only come and do this because it's It's January 25th through the 27th. It's right around the time your news resolutions, you had them, are probably going out the window.

1:02:21And you can do it with your friends or you can do it with your family together. You can do it from home. You don't have to travel. You don't have any expense. Or you can go to the office and do it with a group of your friends at the office type of thing. But I promise you, a big experience you won't forget. So you just, you know, if you get yourself in immersion, that's how it changes. The problem is people try to do a little bit at a time. It's like trying to learn a language a little bit at a time. People that learn language in high school and college usually don't speak it 10 years later. But if I dumped you in Italy with no teacher and said, I'm picking you up in 90 days because you're seeing it, breathing it, being around it around all day long in immersion, you learn the language.

1:02:56Last question. By the way, thank you for today. We've certainly maxed out the hour. We're a little bit over on an hour, but people get a chance to hear you, hear the two of us together. And this thing just explodes every single time. Hard question. So, and dig deep on this one for me. So you have a precious new little girl. I guess she's getting older now, but every time we talk, I keep saying this precious new baby, but she's actually older now. And my son, Max is a college golfer and he's a really good golfer. He's probably going to go play it professionally. And this weekend I was watching Tiger and his son play in that, uh, the parent, uh, child tournament on, on TV this weekend.

1:03:30And I was thinking, uh, his son has such an advantage because his dad's Tiger Woods. I mean, it's a pretty good model and mentor for your golf swinger, how to chip, how to putt, how to hit a driver. And I was thinking And it kind of sucks that for Max, that I'm his dad because I have, I have literally nothing to offer him except how to do these things wrong on the golf course. So literally today, no joke, Tony today, I'm like, who's the best golf instructor in the world? Turns out the dude follows me and I reach out to the guy. I said, I'd like to hire you to coach my son. He basically says, no, I only work with PGA tour players, but if you'll coach me, I'll trade you for lessons.

1:04:03The point that I'm making to you is it's awesome to have a coach. That's the best in the world that you can model. Tiger's got that with his son. And your daughter, to some extent, will have that with you in terms of life strategy. And so I'm just curious. I asked you this kind of last time, and I said, what would you wish for her? And you said, I'd wish love. But your daughter's going to grow up in a world that is this AI world that you and I didn't grow up in. And it's going to be all this new frontier. There's this new technological revolution that we're now in the middle of. she's going to live probably a lot longer than you and I will, right?

1:04:41She's going to have a totally different world geopolitically to some extent than you and I did. So the challenges of life for this young girl, and she becomes a young woman out in the world are going to be unique. And so you're the tiger woods of, of life and, and bliss strategy. Let's call you that right now. What, what are, are there three things, a few things you would wish that she was equipped with when she leaves your home with you and Sage someday? She goes out into the world and you said, I want her armed and equipped with this. For Tiger, it's for his son in golf. It's how to chip or putt or how to hit a cut or a draw on the golf course.

1:05:16But in the game of life, I'm curious as to what you would want her equipped with when she someday, unfortunately, leaves your home and goes out into the world. What would you want her to take with her? I put a lot of thought into that, obviously. I have five kids and five grandkids, and I have a daughter that's 48, as I said, and a daughter that's two and a half. So I have quite a rage. My daughter is, you know, my grandkids are all older than my daughter, and she's their, you know, aunt. So it's kind of interesting. But the answer to your question is, number one, is I want her to have a philosophy of life that will guarantee happiness.

1:05:47And there's only one that I know of, and that is life is about growth and giving. And so even at two and a half, she has responsibilities in the house as part of this family. She cleans her own table. You know, she takes her fork in her stuff. She brings it in. when we, at the end of the night, and we do all our vitamins, we give them one for everybody. And then she goes and shares them and she gives other people theirs first, then hers, right? Life is about people. The biggest challenge for people are unfulfilled as they think life's about me when it's really about we. There's only so much joy you can experience in your own body through anything, you know, massive success, acknowledgement from others.

1:06:23I don't know, sex, music, rock and roll, doesn't matter. By yourself, it's only so much. When you have a great experience in life, the first thing you want to do is share with somebody you love, right? So it's really life is calling us to grow because when we grow, we have something to give. And so she's learning Chinese right now, Spanish and English. We were at a table last week and there was a person who was a Chinese person and she was talking back and forth between us and English. And I know some of those Chinese words and some of those Spanish words, not as much as she knows already at two and a half.

1:06:51She's doing algebra right now. I started when she was little, a baby. She's swimming right now. She has plenty of time just to be them. And I want her autonomy. I want her, everything we do with her, we don't tell her what to do. We give her choices. You want to do this or that? And she gets to choose and some of them have consequences, but she gets to choose. She always knows there's a choice. People always tell me, you know, this is, I'm stuck. It's the only thing I can do is this. That's bulls**t. And one choice is no choice. Two choices is the dilemma. My belief is there's always at least three choices.

1:07:20You may not like them all, but there's at least three choices. She says, once you find three, there's four or five to get to where you want to go. So I'm teaching her at two and a half to make choices. The choices have consequences. Their life's about growing and giving. And I'm helping her to also recognize those patterns. Pattern, at this stage, kids are so great at patterns. So I want her to own the identity that I'm great at learning. Because for AI, for everything that's coming, you need to become learning more rapidly. And that's pattern recognition, pattern utilization, and pattern creation.

1:07:50So, you know, she's playing the piano. them. I never got to have these choices. So she has all these choices, but also I make sure she's not going from one class to the next class, the next class. She has time outside to just be in play and take in nature and be around. I want her to be, I want her to have her own autonomy, her own sovereignty so that she's not influenced by what everybody else thinks. That's also why she won't be on social media for a very, very, very long time. Right? So those are as long as I can control. It'll be a long time. It'll be selective what she does. So she's, she also those models, her family, like, you know, it's no bulls**t.

1:08:23Like my wife and I are so head over he's in love. We've been together 25 years now, quarter of a century, you know? So it's like, there's no fights here. We just, I want everything that makes my wife happy. She wants everything makes me happy. So she sees this environment of such love. Plus we have so many close friends that are chosen family for us, you know? So she models that she doesn't know anything different. Now she's going to go in a world that's not like that, but she's going to have attachment strategies that are totally secure. So she's not going to be one of those people pushing it away or starving for someone else's external affection.

1:08:55So that's my goals. I want her to have those pieces. I want her to have choice, autonomy. I want her the philosophy of life is, what are you here to give, not what are you here to get? And she's already learning that two and a half and we're only going to do more. Plus, it's not just me. My wife is unbelievable. She's the greatest mom. And we couldn't have a baby. We went through IVF for seven years, three times a year, holding my wife's hand. We'll go through that horrible surgery. And finally, and I kept saying, honey, we got to have a baby before I'm 50. I don't want to go to my child's high school reunion at 70.

1:09:24Well, now I'm going to go there when I'm 80. High school graduation, I should say. But I'm a different prime of life. I'm so glad that I know what I have and I can share what I can with her. But those are my core answers. I'm always looking for new things. And my wife is doing the same. But we want her to have joy and happiness. Only one thing that makes you happy, progress. But when we grow, we feel alive. If you get a gift, you get a goal, you achieve your ultimate goal, you have one of two reactions. After you get it, is this all there is? Which is the horrible reaction. Or, wow, this is so awesome.

1:09:57But how long do you keep the happiness about achieving that goal? A year? Six years? No. Six months? Six weeks? Six hours? Six days? Most people, somewhere between six hours and six weeks is the most they stay happy. Because we're not supposed to stay happy. Life has made us want to keep growing. So when you make progress, though, you make significant progress in your body, in your relationship, in your finance. You're not there yet. You lose the first 10 pounds. Oh, you figured out how to invest, and now you've got something to bring you a great income and equity. Wow. There's an excitement with progress that doesn't go away.

1:10:32So I always tell people progress is everything. How are you going to keep making progress? That's what's going to make you feel alive. The people you see that, and all the money and all the affection and everything around them that people think they want, these movie stars, comedians, whoever, and take their own life. Why? In every case, if you do your homework, you can see they stopped growing. They didn't feel fully alive anymore. They got rote in what they're doing. And it became all about me or they got into drugs and alcohol. And then one day in a really bad state did something really stupid.

1:11:02So I can't control what my daughter will be like. And I don't have that delusion or illusion, but I can do the best I can to give her an incredible base to make those choices from. And that's what I'm committed to. And so is my wife. And as I started saying, she has a second mom because the lady who carried for us has been a dear friend of ours chosen family for more than a decade, Mary. And so we said, Mary, you should stay with us and do this. You've helped bring her in the world. So she literally has like two moms and me and all these resources. I think she's going to do okay. So do I. And you know what?

1:11:34I think you helped a lot of people today do okay and better than okay. I'm like, uh, I'm so grateful that I'm alive when you're alive and that you've been in my life and that I get a chance that for whatever this platform that we've built here, that I get to share you with all these people that I know you and I mutually love and care about these human beings out there that are just trying to do something great with their lives and have dreams and visions and want to make a difference in the world. And like I said, when I introduced you, I, I believe that this man has helped more people do that than anybody who's lived the last hundred years on this planet.

1:12:11And so you should be acknowledged for that. I love you. I'm proud of you and very, very grateful that you exist, brother, and that you continue to grow yourself and have all these new breakthroughs and deliver for so many. So thank you. Well, thank you for that, Adam. You know, my feeling is more than mutual. I've watched you over the years just continue to grow and not just in your body or your business, but also you've always been a generous soul. but you're really doing your best to really help people everywhere. Same as me. So that's why I feel a brotherhood with you and always enjoy our conversation.

1:12:39So thanks for having me on and I'll look forward to seeing you soon. Have a beautiful new year. Likewise, the Holy grail of investing February 13th pre-order. If it's before, grab it now, spend three days with Tony January 25th through 27th, 2024. Join Tony 100.com. God bless you, everybody. Max out your life. This is the Ed Myland Show.