Latest / The Curve / TCW94: Bitcoin’s $90K Surge and Buffett’s $300B secret.

Transcript

TCW94: Bitcoin’s $90K Surge and Buffett’s $300B secret. · The Curve

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Welcome to the Curve Weekly, the podcast that keeps you up to date with all of the money
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business and stock market too.
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Brought to you by the Curve's research team, it's the latest insights on what's happening
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in the stock market, companies, other money-related news so that you can stay educated and
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ahead of the curve.
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You can thank us later for sounding smarter than those finance bros you think it's in our
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party.
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So Vic, okay, I don't know if anyone else did this at school.
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At our school, there was this, it was like a time capsule thing where you wrote a
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letter to your future self and Vic and I were just getting coffee before the record.
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She was like, I got my 10-year, sorry, I got my 10-year capsule and I was like, but you're
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at school like 20 years ago.
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I was like, oh my gosh, I'll say a lot hasn't changed, to be honest.
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Can you read some of it, please?
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It's so funny, just the stuff that you thought was important back then and like.
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Yeah, it starts off it goes, I'm writing this letter in the study at 6.40pm on November
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the 12th, 2006, but it's literally 18 years ago, November, I know, I've just watched
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the news.
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Of course you had, which at the moment is about debating whether to build a new stadium
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where to raise the drinking age to 20 or well, World War Three in the Middle East is
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going on.
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In fact, that you're writing a time capsule and you list the current events.
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If you compared that to mine, that is so funny.
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I feel like they must have told us to or something.
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No way.
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And then it's like, goes on, being like, I'm sitting two scholarship exams, did I get them,
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did I go to Christchurch for university, and then it goes, whatever I choose, I hope
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it was a good one.
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And then it goes, am I successful?
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Did I achieve my 10 year dream, which was do a degree work at PWC in live in New York?
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I mean, you did two of the three.
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If I'm not anywhere near that dream, hopefully I'm happy, no matter what I've accomplished.
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I was like, oh my god, little, little, the best part, love life.
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What do you mean, did you just write love life, love life dot dot?
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At this time of my life, I haven't had a boyfriend for a year.
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So cute.
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And then it goes, I'm pretty lonely at the moment and have been effed over by so many
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guys.
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Has that changed?
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Oh.
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I know.
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I just want to be like, don't sweat it.
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You'll be fine.
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Oh.
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You'll get me a big hug.
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And then it goes, favourite song, promiscuous girl, by Ellie Fatardo.
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What a banger.
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Mary J. Blige.
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Wow.
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There's some bangers.
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All you may take away is the fact that I've been out of school for nearly 20 years.
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Yes.
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That's kind of, that's quite the most loving part.
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I think it was like, are you happy with what you've accomplished?
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I never would have thought I'd be doing this, but I am very happy with what I've accomplished.
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Yeah.
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Yeah.
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So, I think of any of us spoke to our 18-year-old selves, you would be so proud of everything
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that you'd done.
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Yeah.
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It also makes me think, like, next time I write something, talk about your feelings, not
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like what's in the news.
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But isn't there just so on-brand for you?
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Like the fact that my, if we read mine, it's probably like, I'm grown.
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I'm in a study, and I...
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But it's a good reflection of like, what, if I was to do that now and read it when I was
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56.
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We should do that.
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We should do that.
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And we should write down investments.
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Okay.
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Yeah, yeah, yeah.
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Now, we're going to talk about crypto, because this is one of those things that probably,
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if we were 18, we would be telling ourselves to put a lot of money in.
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Definitely.
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Just to finish on that thought.
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Yeah.
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How quickly those 18 years have gone.
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You know, when we always say like, investments should be five years or more, that seems like
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a long time, but oh, my goodness, it's so not.
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I think the days and the weeks can sometimes feel like they go slow, or like the months,
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but if you zoom out, out, out, school feels like not that long ago.
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Like a lot has happened since then.
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It's, yeah, I know what you mean.
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I know you hate it when I say it, but like, I honestly think, well, but I cannot be,
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obviously.
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Oh, God, God, God, God, Lord, do you know what I'd like to do?
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I think we should try and get AI and look at ourselves when we're 80, because a lot of
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the stats say when it comes to investing, imagining yourself in like 10 years or paying
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yourself in 10 years.
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So for example, like giving $10,000 to someone, you know, in the future, it's almost comparable
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to like a stranger.
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That's how hard it is to connect the idea of future you or whatever.
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That's actually a really good psychological thing.
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You just have it on your screen, Saber.
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An old person.
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Yeah.
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Yeah.
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Wow.
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You put it on your, oh my God, make your like visa or a mastercard, you do a card, a photo
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of old you.
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Are you joking?
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But then you don't spend.
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Do you mean old you as in you in 80 years?
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Yes.
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And like, every time you go to pay, you're like, oh, I mean, let's try it.
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Yeah.
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I'm always here for an experiment.
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I feel like it's probably going to make me want to go get a photo of yourself.
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Life is so short.
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And I, it is so easy to get caught up in the small stuff, you know, you feeling lonely
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at 18 or the things that you were worried about, it's everything so fleeting.
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We had someone in the community in the investing club say, you know, ask the club, what advice?
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What advice.
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I loved that.
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What advice would you give your 20 year old self because she's 24 and she's just like
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she'd love to know from older people in the club.
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And I was like, for me, I think it's spending money when you're that age is so unimportant.
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You know, you think it's so important and you think, oh, but I have to go to this dinner
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or I have to go on this holiday, but in the scheme of things, it's like those people
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are still going to be friends with you.
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You're still going to be able to experience life, but you don't have to say yes to everything
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or feel, feel like you can't say no to things.
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But for me, there's like stuff I spent money on at that age, which felt so important.
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I make a wish I just invested that.
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Well, I think the feeling of community and being a part of something and belonging is the
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number one thing.
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I mean, even you writing about feeling lonely at 18, like we all are such a natural human
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emotion to feel.
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And I remember that podcast we did with Dr. Rebecca Ray.
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She was raising the curve of 99 self sabotage people pleasing and sitting boundaries with
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Dr. Rebecca Ray.
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And she spoke a lot about that feeling, the innate feeling that you need of connection
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and being amount like amongst people.
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And yeah, I think that was a really good episode for me to think about the idea of saying
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no to things, putting boundaries in place.
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Anyway, the reason we were going to talk about Bitcoin is because it has been app solutely
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on a tier.
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So I remember when we were speaking about Bitcoin and we were talking about it, it's like
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peak.
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And it was when one Bitcoin was worth 65,000.
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Yeah.
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And now it's more than that.
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It's like, I mean, recording this, it's nearly at 90, but I feel like it's a gone up
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to 19 hours.
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I feel like by the time this comes out, it probably might be even like a hundred.
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Okay.
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Can we talk about this?
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Because I'm feeling left out.
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We invested in Bitcoin when was that like we bought it in like March 2023.
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We sold it all in May 24, but coin had gone off about 40,000 to 65,000 and we were like,
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let's sell it.
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We made a couple of thousand.
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It's pretty good.
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Yeah.
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How much would it have been now?
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It would have been even double that one.
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It's 30.
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It's gone up 30%.
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So we would have we we sold our holding the 5,000, we would have had six and a half.
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I mean, six and a half, oh, it's really, it's quite interesting.
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Because when we talk about investing and not just jumping on the bandwagon when things
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are doing well, I am absolutely need to sit on my hands right now because I want to
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buy because I still think it's going to keep going up.
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Like I think there's you need to change your mentality of like when you read a headline
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of something doing really badly, that's when you need to be like, oh, is it a good time
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to buy?
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Yeah, but I know that I want to buy, oh, damn, but the thing is I believe in Bitcoin and
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I wish I'd bought when it wasn't like me flooding when you when you when that was doing
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really badly and you were like, oh, okay, I'd still like the company.
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I think it's got legs, let's buy it.
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You know, rather than when something's doing well, it's kind of you want to do the opposite
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of what?
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It's hard.
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It's hard.
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Trust me.
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Trust me.
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I want Bitcoin now.
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How do I stop myself from buying it?
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Well, you can buy a little bit if you want, but make sure it's in a diversified portfolio.
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You don't want to put everything in Bitcoin because just how quickly it's gone up.
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That means there is a lot of risk.
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The thing is, if you own a shit ton of Bitcoin and it's gone up and it's now worth an absolute
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truck load, how do you not sell out at this point?
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Because I'd just be so excited.
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Yeah.
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I mean, you could take some profits, take a little bit out, leave a little bit of, yeah.
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Doesn't have to be so all or nothing.
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But then what if we are sitting here in a couple of months time, it's gone up another
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50%.
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You'd be like, damn it, why did I sell?
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That's why I think I want to get a little bit now.
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Also this company that we spoke about in the recycle has done way better than the Bitcoin.
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Damn, at the time I knew I should have invested in that.
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Victoria Harris, you are a genius.
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No, this was put forward by someone in the community.
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Oh my God.
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I never heard of this company, Amy.
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Did you invest in it?
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No.
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Damn, I had a nice, we feel better.
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It's for context.
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So this is a company called MicroStrategy, which it was basically where we did a deep dive
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in the Investing Club.
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They do analytics and insights for companies, but then a huge amount of their assets or
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the things that they own.
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I'd Bitcoin.
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It's like a Bitcoin proxy.
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So we've Bitcoin as well, it does well, but it has, it's crazy.
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Like Bitcoin, it's done better than Bitcoin, so this year, Bitcoin's up 100% and that's
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up 400%.
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400% who is the genius that put this forward in the club, what else is on your list?
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Do you need a job?
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Do you want to go work at the curve?
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It's pretty hard to hear that kind of thing and not at least put a little bit of fun money
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into stuff like that.
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Yes, you want to have your long-term strategy, but I love the idea of having 20% that
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I just can fluff around with stuff like this and if it does well or if it doesn't, it's
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not going to super.
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It's not going to affect me.
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Anyway, what else is, what do we want to share with Bitcoin?
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Is there anything else to like talk about there?
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It's just done fantastically well and it's all due to Trump.
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So he's, and we've spoken about this, before wanting to make the US kind of the crypto capital
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of the world, but stocks have also done well.
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They had their best week in 2024, so the best week this year and this year, the stock
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market's on track to do its best year since 1995.
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We had someone in the investing club when we put out the Bitcoin stuff and she was like,
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Oh, that's massive, funny story.
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My partner bought about $200 worth of Bitcoin in 2012.
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He totally forgot he had it until he received an email in 2021.
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He decided to keep it and it's now worth $61,000.
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New Zealand dollars.
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I've got the worst memory ever.
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Maybe I should do that, just throw money into it.
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I will fully forget about it, honestly, like I can't remember where I put my phone
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two seconds ago.
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Can you imagine?
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I just have all these accidental investments.
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That would be quite good.
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Have you watched the Martha Stewart documentary?
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No, but I've heard you talk about it.
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It's weird as it's on Netflix.
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So I came into the office the other day and I was like, I saw Martha Stewart.
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This is such a big moment.
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And he runs like, oh my goodness.
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I was like, wow, that's a reaction that I kind of didn't expect.
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And I forgot to say documentary, so no, I didn't see Martha Stewart.
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I saw the Martha Stewart documentary.
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I didn't realise she was a stockbroker.
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She was one of the first female stockbrokers on Wall Street.
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She built an incredible business, Martha Stewart Living,
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which listed on the New York Stock Exchange for around $2 billion.
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So she was worth about $1 billion and 2001.
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She was like the first actual self-made billionaire.
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Like she came from nothing.
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Like her whole cooking and being a housewife and all that came from the fact
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that they couldn't afford groceries.
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So they had to be in the garden and get a lot of produce from the garden
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and cook that way.
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But it all came crashing down because she got accused of insider trading.
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Which I had always thought she had been acute,
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that's what she was put in jail for.
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But it was actually she lied to a federal agent.
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Like the conviction wasn't inside a trading if that makes sense.
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They just kind of wanted to take down a really successful woman.
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One of the takeaways was just like the juxtaposition of,
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here was this perfect housewife that was making billions of what she was doing.
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And the business that she was running was making money how?
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So it was like TV shows, magazines, it was cooking, it was like living, it was like entertaining.
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So she had made a lot of money out of almost sensationalizing,
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you know, everyday woman's tasks in the home.
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Yeah and then her marriage broke down because her business was booming
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and there was infidelity.
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I think there is just that juxtaposition of building such a successful business
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of something that should not be in that world.
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Another key takeaway was that you can't have it all.
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Yuck, I wanna have like why can't I?
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Like I think she put a lot of pressure on herself to be quite, quite perfect.
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Then people seeing that she wasn't so perfect just kind of ridiculed her.
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Like it was quite, quite horrible.
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The biggest takeaway was like she was a boss lady
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and throughout the whole documentary,
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there's this undertone of her being a bitch.
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And it's quite ironic what people say about her,
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they would never say about a man.
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Just because she is confident, powerful and no bullshit,
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that's taken as a bitch.
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Like she built an empire and built the billion dollar business
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by based on the skills that she masters a child to help her family eat.
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And if she were a man, she'd be considered very powerful, very successful, very confident.
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What do you expect?
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She's been had to like really fight for where she is and put it with a lot of bullshit
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and live in such a masculine world.
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I don't like it.
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The reason I'm torn about it is because whilst I've learned a lot about
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how important it is to, like directness is actually a really different thing.
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Like being direct is completely different to being rude.
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Yes.
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And I've really had to unlearn that.
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I would say one of, we went to this Google event a couple of days ago
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and it was a diversity and inclusion and equity like in AI.
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And it was fascinating, it was such an interesting conversation.
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But one of the things that this guy said was having respectful disagreements.
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And I was like, I love that because there's a fine line between feeling like you're being direct.
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You can be direct and you can disagree.
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That doesn't mean you're being combative.
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It just means that you're, and so I think it's relearning what it looks like
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to be men and women in positions of leadership
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and allowing people to adopt that in whatever ways like natural for them.
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100%.
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And there will be people that are arrogant dicks and bitches.
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Like, yeah, yeah.
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But just, yeah, it's not that's not everyone that's powerful,
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or every female that's powerful, or yeah, anyway.
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So it's like, I just thought it was quite an interesting takeaway.
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Now I know we've spoken about this.
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We've touched on this briefly.
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But more and buffer, one of the best investors of all time
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is now sitting on the highest cash balance he has ever had.
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$300 billion.
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$300 billion is a lot.
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But what percentage of his portfolio is that?
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So he's got an investment company that's worth $1 trillion.
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So about 30%.
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Now the fact this is the highest amount ever,
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excuse me, because why is one of the best investors of all time sitting on,
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put it having his cash in the bank rather than the stock market?
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Particularly when it's going so well.
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Yeah.
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I was interviewing one of our investors actually for the Investing Club.
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Yeah.
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She said the exact same thing.
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She said, I am fascinated by the idea that Warren Buffett has so much in cash right now.
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So my portfolio is reflecting that too.
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She said she had about 30% in her offer portfolio and cash.
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So term deposits, high interest savings account,
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not just sitting in a transaction account, just to preface.
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This is not sitting in a zero-interest situation.
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It's still earning something.
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Yeah, I don't really know what to take from it,
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because on one side you're reporting all this news about how amazing the stock market's going
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and the S&P 500's best week in the whole year.
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And yet one of the best investors in the world is not really investing.
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You know, it could it mean that he's waiting to make a big investment or do you think that it's?
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When I was a portfolio manager, not in any realm, the same as Warren Buffett.
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You're trying to say you're Warren Buffett.
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I mean, load would love to run one day.
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Imagine that was my letter.
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So has your performance better than Warren Buffett's?
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Anyway, I would be holding cash for my clients because I would think that in the future,
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I could I want to have ammunition of cash to deploy into stocks when they fall.
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It's so dramatic.
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But you know, I want to deploy it on the front line.
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But no, you get what I mean because you don't want to be all invested, investing everything.
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Have nothing in the bank and then the stock market falls and you go,
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oh gosh, I want to buy all these things because they're cheaper.
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So that is what he's doing.
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He is not investing because he will want to have ammunition for when the stock market falls
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that he can deploy.
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But what you said about me saying, oh, there's all these great stats.
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The stock market's doing so well.
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He's a long term investor.
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He doesn't care that it's the best week in 2024.
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But isn't that then to the point of like, okay, if he's investing for a long period of time,
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why has he not got that money invested?
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He doesn't something else.
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I reckon he would look at the last, even the last four years, we've had three out of them
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that have the stock market's done over 20%.
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That hasn't happened for a long, long time.
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Like, the stock market over the last couple years has done fantastically well.
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Way better than its long term average.
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So he's like, you know what?
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All these companies I've invested in have done really well.
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I'm going to sell out of them and sit and wait for a better entry point or better prices.
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So he's trying to time the market, which is literally the opposite of what you say here in this
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in terms of the purchase.
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No, but he times it at a very long term way, if that makes sense.
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You have to rotate your portfolio every now and then.
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You know, you don't just invest in a whole bunch of things at 10 in year one
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and then sell them all in your 10.
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Or is there a chance that he's got another couple of things he's looking at?
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He has made a few other investments, which we've spoken about in the Western Club.
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It's just something to keep in mind.
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There's going to be ups and downs in the market.
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And there's been a lot of ups lately.
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So Warren Buffett, yes, he probably does try and time the market a bit more than we do
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because he's an expert and he has money to make for clients.
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But you saying this scares you?
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Doesn't mean you're going to make a decision, right?
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You're not going to go and sell out because he's holding heaps of cash or I...
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No, no, no.
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I just want to have a bit of fire in my ammunition as well.
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You want some stuff to deploy?
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Yeah, I want some stuff to deploy.
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So you might actually try and hold more in cash in case you want to deploy?
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Is that what you're saying?
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No, I'm going to keep investing.
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Don't get me wrong.
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But I also am conscious that I want a little bit more in my savings accounts.
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So I'm going to take that from my spending.
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So you're not decreasing your investment amount.
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You're just going to try and decrease the spending of what you're...
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Like things that you don't necessarily need to spend money on.
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So you have more surplus in case you want to invest in.
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Exactly.
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Yeah.
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The Airbnb CEO has announced he refuses to have one-on-one meetings
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because they often turn into therapy sessions.
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Oh, you mean one-on-ones with his employee?
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With his employee?
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But it is, though.
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Can you remember when you were young and you would get drunk at work drinks
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and you'd try and sit down your manager?
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Oh, yeah.
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You're like, hey, just really?
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Well, also, I think it's just like...
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Fucking annoying.
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Like even when we catch up for coffee.
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Oh, it's like how are you feeling?
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Oh, I know.
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You know how like it is.
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Also, how funny?
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It would be someone working for him.
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He'd be like, oh, god.
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It would be until we're in one-on-one.
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Yeah.
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Okay, hey, before we finish,
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we've had some voice notes come through to the hotline
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and I really want to listen.
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So Emily, our producer, has...
21:21
She said, don't listen to these in advance.
21:23
So I haven't actually listened to them.
21:25
Oh, my gosh.
21:26
I know. Hold on.
21:27
Let's open them up.
21:28
Yeah, so funny silly story.
21:31
When I bought my first apartment a few years ago,
21:36
I assumed that my rates would be included in the body corporate.
21:41
I didn't really think about it.
21:43
And then clocked it 18 months later.
21:47
And I had quite the hefty rates bill
21:50
because it was not included in the body court.
21:53
Big oversight from me,
21:55
big learning curve as a homeowner,
21:57
spent quite a while paying back Auckland Council.
22:02
But now we do it for you.
22:03
So go, go me, it has a happy ending.
22:06
Yeah, Fred, bloody hell, it's impressive.
22:08
Oh, so on the house or the rates?
22:10
So hold on, so what was she meant in?
22:12
So rates is what you pay in New Zealand
22:15
to the Council for, like, parks and...
22:18
Okay, yeah, yeah, yeah.
22:19
Like all that kind of stuff.
22:20
It's determined on the valuation of your house.
22:22
It's a payment that you make each quarter each year,
22:24
but it's like, as property prices go up, your rates go up.
22:27
And it's a freaking killer.
22:29
Really?
22:30
Oh, I hate it.
22:32
I feel like it comes around every week.
22:33
How much would they bet?
22:34
Mine, I like 4000 a year.
22:37
Holy.
22:37
Yeah.
22:38
Wow, okay, that's quite a lot.
22:40
I think if you're either in that situation,
22:44
I would suggest contacting the Council
22:46
and saying what's happened,
22:47
and be like, can I say a payment plan?
22:48
You might be getting charged interest.
22:50
So just explain the situation,
22:51
and I'm sure I don't know this for certain,
22:54
but that we are able to help in terms of sorting you out.
22:57
You wouldn't be the first person that's...
22:59
You've been in a bit of financial difficulty
23:01
or, you know, forgotten to pay them.
23:03
And yeah, all right.
23:04
Now, I'm not sure if this is a curveball
23:06
or what's going on, but I'm just going to play it.
23:07
Hey, ladies, I love your podcast.
23:10
When I was about 21, I was following winter seasons
23:13
from Northern Hemisphere to Southern Hemisphere.
23:15
As living in New Zealand, we're going to America.
23:17
At the time, I was living in Colorado
23:19
very high elevation.
23:20
You go up, do you feel pretty sick a lot of the time?
23:23
But as any 21-year-old does,
23:26
they go to the bar and that's exactly what I did.
23:29
Having a good night with my friends,
23:31
drank too much.
23:33
Decided to walk home in the snow.
23:36
Could have died if I'd passed out in the snow.
23:38
That's very common.
23:40
Got picked up by the police.
23:41
I don't remember any of this
23:42
because I was fully blacked out.
23:45
Got taken to the police station
23:46
and then the hospital to get my stomach pumped.
23:49
Work up in hospital.
23:50
Absolutely horrified.
23:51
What have I done?
23:52
I was okay, thankfully.
23:54
Got home to a plethora of medical bills.
23:58
We're talking about, I think it was about $8,000
24:01
in US dollars at the time,
24:02
which isn't much compared to what a lot of other people
24:05
have had.
24:06
But I was 21.
24:07
I did have travel insurance,
24:08
but because I had blood alcohol,
24:12
a blood alcohol level of whatever it was,
24:14
they wouldn't cover me.
24:16
So that really, really set me back financially.
24:19
I paid them off eventually,
24:21
but it's all, I guess, back to insurance.
24:23
And yeah.
24:25
Oh, wow.
24:27
That's quite sad.
24:28
I mean, congratulations.
24:29
She had travel insurance.
24:30
Honestly, I cannot stress enough
24:34
how important travel insurance is.
24:36
Like, you just have no idea of
24:38
the cost of what bills you'll get.
24:41
Like, how much more expensive they are.
24:42
Also, you don't want to be stuck in like
24:45
in some country that won't treat you
24:46
because you don't have travel insurance.
24:48
Like, you just, your poor family
24:50
doesn't want to have to deal with that either.
24:51
It's just so incredibly important.
24:54
And I know it seems like the last thing you want to pay for
24:56
when you've just paid for flights
24:57
and accommodation and all of that,
24:58
but it is so incredibly important.
25:00
Also, though, reading the fine print.
25:03
I know they send you big documents as well,
25:06
but like, chuck that shit and chat GBT.
25:08
True, actually.
25:09
Keep points.
25:10
Things I need to do.
25:11
Because I wouldn't have known that either,
25:13
especially at that age, I wouldn't have known.
25:14
Also, it just sucks when you think you've done
25:16
all the right things,
25:17
like you've got travel insurance and blah, blah, blah.
25:19
And like, I mean, everyone's drunk too much before.
25:21
Yeah.
25:22
It sucks to think that probably took years to pay back.
25:26
Also, a really good reminder of how great it is
25:30
to put money away for your emergency fund.
25:32
Yes.
25:33
Just constantly because you're always going to have
25:35
shit that goes wrong that you don't know about.
25:37
Yeah.
25:37
So if you're always contributing,
25:39
even if it's a small amount into your emergency fund,
25:42
then when shit like this happens,
25:43
it's not going to set you back for years
25:45
because you've already been planning towards it.
25:48
Okay, one more.
25:49
After coming out of a five-year relationship,
25:52
where he ended up owing me around $10,000.
25:56
I was feeling a little bit vulnerable,
25:58
but then also feeling like I wanted to get rich quick
26:01
and I was out of pocket.
26:02
So I saw a lot of people posting about Bitcoin.
26:06
And I thought, this is my chance.
26:09
I don't want to miss out on making some money.
26:11
I sold my car, had $5,000, a little bit more sitting there.
26:15
I was earning around,
26:18
maybe $20 an hour while studying as well.
26:20
And I messaged someone that had been writing about Bitcoin
26:23
on Facebook that I met through a mutual friend.
26:26
He said, yeah, sure, come over.
26:28
I'll help you.
26:28
Show me a few long-winded YouTube videos.
26:32
And I said, look, you know what you're doing.
26:34
He said, invest $5,000 and the fees
26:37
that the platform will charge you will be a lot less.
26:38
So I thought, okay, saving money.
26:41
Transfer the money into Bitcoin,
26:43
then into this platform.
26:45
Three or four weeks later, I looked in the platform
26:49
and actually being closed down due to who knows what reason.
26:55
When I asked him, he said they needed to do this
26:58
so they could start their own bank and sent me another platform
27:01
to invest more money in.
27:02
Turned out, it was actually a scam.
27:05
And when I did go to a reporter,
27:06
it was another scam website as well
27:08
that asked me for more money to try and investigate
27:11
and get some of the funds back.
27:14
Yeah, no more Bitcoin for me.
27:18
Okay, I was hoping throughout that
27:19
that it was going to be good ending.
27:20
She's like, and I doubled my money.
27:23
I think this is a really good curveball to end with,
27:25
particularly because we've talked about Bitcoin.
27:27
And it's such, I mean, the reason that when we talk about
27:31
what is a spicy investment
27:33
or something that's really high risk,
27:35
lots and lots and lots of chilies,
27:36
cryptocurrency is up there, it is unregulated.
27:40
So when you're investing in Bitcoin,
27:42
not only do you need to make sure you're on a legitimate platform.
27:45
Yeah.
27:46
But do not sell something like a car to go in and invest.
27:50
If you're like, oh, there's so many things in that.
27:53
I'm like, firstly, don't invest in what you don't know.
27:57
Like, do your research.
27:58
But she tried, someone came round and was like,
28:00
this is, you know, she wasn't just like,
28:02
willy-nilly chucking at it.
28:04
Yeah, I think there's also, like,
28:06
investing is not about get rich quick.
28:09
Like that you just, you can't, like, that is not investing.
28:14
That is, that is gambling.
28:15
That is you are hoping to make money quick.
28:18
You're hoping to put money on black and
28:21
double your, double your earnings.
28:23
Like, that's just not investing.
28:24
Investing, you need patience.
28:26
You need to take a long-term view.
28:29
Like, you cannot, anyway.
28:31
Sorry, she's probably like, okay.
28:32
She's like, if she wanted to do that, do $1,000.
28:38
You know, don't put your entire life savings in anything.
28:42
Bitcoin, or like, the most boring stock either,
28:44
that doesn't even move.
28:45
Like, don't put it all in one thing.
28:49
That's the whole idea of don't put all your own eggs in one basket.
28:52
If you drop the basket of eggs, the eggs go over,
28:54
you have no eggs for breakfast.
28:55
Like, you've got to be really putting money in different places
28:58
so that if something like this happens,
29:00
it's not the only place you're money sitting.
29:02
Yeah.
29:02
But also, like, you'll absolute us whole of an ex-boyfriend,
29:06
boring 10 grand.
29:07
Yeah.
29:08
Like, that's just, oh god, it gives me the heavy GBS,
29:11
because like, at the time, when you lend money to someone,
29:14
particularly if you love them,
29:15
of course you're soon they're going to pay you back.
29:17
And I also think, oh, I want to give you a hug,
29:19
I'm sorry, that all happened.
29:21
And I hate that it's probably put you off
29:23
like, making assumptions,
29:24
but I hope it hasn't put you off investing all together,
29:27
because there's learnings from that,
29:30
which can put you in a much better financial position going forward.
29:34
But also just, there's a lot of bad people out there.
29:37
And I think just like stick to the experts and don't...
29:41
Keep your wits about you when it comes to money.
29:43
I think that...
29:43
If it sounds too good to be true, it usually is.
29:45
That's what my dad said.
29:47
It's just, I think the thing to remember with stuff like this
29:50
is making money quickly.
29:53
Investing is the opposite.
29:54
You should think of investing as the opposite to that.
29:57
It's not a golden ticket to all of a sudden we have to work.
30:01
We'll have a whole lot of money.
30:03
Yes, there's people that make extra money on meme stocks and Bitcoin
30:06
and things, but that is in literally anomaly.
30:08
Yeah, that's like the exception, not the rule.
30:11
People like Warren Buffett,
30:12
who are multi-multi-billionaires,
30:15
they've made money from putting away small amounts,
30:19
consistently and regularly and taking that long term outlook.
30:23
Can I just say, though, I'm not going to say what her name is,
30:26
because obviously this is, you know,
30:29
we want you to feel like it's a safe space to share.
30:32
But thank you so much for sending that in,
30:34
because I think that it's such a good learning, you know,
30:37
and by you sharing that and telling other people
30:40
on the same with the situation with like the rates
30:43
and not really realizing about it,
30:45
like the more we talk about these things,
30:46
the more we share those experiences.
30:48
And a number of people that have probably gone and checked their rates
30:50
and gone and checked their Bitcoin,
30:51
and made sure that it's a legit platform.
30:54
Yeah, it will be very, very thankful for you sending that in.
30:56
So thank you so much.
30:57
We will put the link to our curve hotline.
31:01
It's just you can send a voice note and like,
31:03
that if there's anything you wanted to share,
31:04
like an experience, something you learned,
31:06
a question that you have,
31:08
it's really cool to go through and listen to.
31:09
I want to give her a little curve cut all.
31:11
Oh, cute.
31:13
I love that.
31:17
Thank you so much for listening to the curve weekly.
31:19
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31:21
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31:23
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31:25
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31:26
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31:27
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31:30
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31:33
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31:34
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31:35
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31:36
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31:38
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31:39
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31:40
Bye.
31:41
Bye.
31:42
That's great.
31:43
Yeah.
31:44
See you next Tuesday.
31:45
Well,
31:47
see you next Tuesday.
31:48
I mean, Monday.
31:50
No, actually though.
31:51
New episodes out every Tuesday.
31:56
Okay, quickly, the curve was created to empower
31:58
and educate you about investing,
31:59
but we are not financial advisors.
32:02
Our platform exists for educational purposes only
32:04
and it doesn't provide personalized
32:06
investing advice for your individual needs
32:07
and should not be relied upon
32:09
to make an investment or financial decision.
32:11
And always remember to do your own research
32:13
before making any investment or financial decision.
32:16
We're here for any knowledge and support you need,
32:18
but the final call is always yours.
32:20
And thanks for being here.
32:21
You got this.
32:22
Yeah, we know you got this.