How This Investor Creates A Lasting Legacy With Smart Investments [30:11-35:12]
to an even greater level, to the point that we got to where we are today. So when I think about where we are today, the narrative about what success looks like. And who has truly made contributions to this country historically and today has been stolen, misappropriated, and spun in a way that has people thinking that women are hired because of DEI, Latino people should be pulled off the streets, and people who look like you and I don't necessarily deserve to be where we are today. And what I try to do with the power 100 is to find excellence. It's women, it's people of color, but it's also people who are helping them achieve excellence. And I want to amplify the work that they're doing. I want to pull people together, convene people so that we're creating an ecosystem that makes each and every one of us and us as a collective group resilient against the forces that are working against us. And so this is my way, we talked earlier about different phases of your career, of trying to have the maximum amount of impact I can have on the maximum number of people in our industry, because the narrative is so off right now, and it's one of the things I appreciate about you is that you're helping with your list, amplify what success looks like among black people in asset management. Today we have more black and brown people and women running venture capital funds and never before, more black and brown people and women running private equity funds and real estate funds and private credit funds and never before, managing more money than ever before. But if you listen to the drum beat in this country, you would never know that. And so the power 100 is about giving visibility to people who deserve it. It's about amplifying the success that we're having. I'd like to say sometimes we're dancing in the rain because we need to keep celebrating our wins and stop letting other people think or let us think or other people drive our thinking that we're not winning. That's right. You try to handle some fun stuff, man. If I give you 10 grand. It's time for fun. We do a lot of fun. Well, you're here. You're going to have a little bit of fun. Okay. We're going to haul it in everything, but you're going to have a little bit of fun. If I give you 10 grand right now, of course you give it back to me, Jake, because I know you've got more money to me. But if I give you 10 grand right now, it's the first thing you invest in. Myself. Yes, self. Okay. Why? Other than yourself, any investment, real estate, stock market? I think the biggest investment people can make today is in themselves. If you are worried about innovation, if you are worried about AI, and we all should be, how this changes the workforce, you need to be investing in understanding those technologies and figuring out from a career perspective whether you're going to get displaced, whether you need to start thinking about migrating to another space, and pouring some money into training. So, when you think about all these universities and colleges, MIT, Harvard, all of them, you can go and get certificates on AI, and so when I say $10,000 invested in yourself, I seriously mean that. That's right. Now, if you want to talk about where do I put it to work, look, wars and other times of dislocation in the markets, create tremendous buying opportunities. In every disposable dollar you have, and I'm not talking about, you know, now is not the time to be buying a pair of Louis Vuitton sneakers, now is not the time to be buying, you know, a new candidate goose jacket, now is the time to be thinking about, wow, I got a chance to get into some of these great technology names at a fraction of the price that they were selling at a month ago before the bomb started dropping. Right? Now, having said that, you're going to experience some volatility, you know, but keep buying on the way down. I just had a 45 minute conversation when I was 19 years old yesterday about, you keep buying on the way down, right? And so, if you liked it at $126, you should still like it at $1.15, you should still like it at $95 and say, wow, I got a stock worth $126 for $95, let me pump some more money into it. So $10,000, I'd be putting in to those magnificent seven technology names, sprinkling in some energy names and do me a favor, don't touch it for five years. And if it doesn't double, I'll give you the residual. Yeah, I love it. Now, that is a way to do financial literacy. You start financial literacy off like that, right? This is how you break it down with 10 grand.
{# E23 (Nick, ruling section 1 answer 10): quoting a bill or a court opinion works
the way quoting a news article works. Select a passage above and the same panel
opens: the passage goes to the official you choose, with this document's own
address as its source and its own type. #}