Episode 53: Stock Player or Spectator: Which Stock Market Investment Strategy Should You Be Using?

Listen Now!

Back in episode 52, we explored managed mutual funds under the microscope and investigated whether there is ever a time where managed mutual funds might make sense. 

In this episode, we will unpack whether there is a case to be made for investing in the stock market as a “Stock Player” (or picker) or whether you should really be a “stock spectator” and take the indexed fund or mutual fund approach.  We’ll look at a Foolish Claim by a common “Stock Picking” subscription website advocating for how YOU – regular old, entrepreneurial, do it yourself, YOU can beat the market ahead of all of the managed mutual fund managers. 

We’ll also look at the data to determine whether stock picking generally leads to higher returns than market indices or whether stock pickers just think they know more than everyone else. 

Finally, we’ll dive into other considerations that you should be thinking about before you take on any type of active investment involvement be it stock picking, real estate wholesaling, flipping, BRRRRing (buy, renovate, rent, refinance and repeat), or just buying and holding.

Exploring these ideas are important so that you can determine where you’ll receive the greatest return on your TIME investment to maximize your wealth and time freedom over the long term.

What you’ll learn:

• We’ll look at a Foolish Claim by a common “Stock Picking” subscription website advocating for how YOU – regular old, entrepreneurial, do it yourself, YOU can beat the market ahead of all of the managed mutual fund managers;
• We’ll also look at the data to determine whether stock picking generally leads to higher returns than market indices or whether stock pickers just think they know more than everyone else; 
• We’ll dive into other considerations that you should be thinking about before you take on any type of active investment involvement be it stock picking, real estate wholesaling, flipping, BRRRRing (buy, renovate, rent, refinance and repeat), or just buying and holding; and,
• Determine where you’ll receive the greatest return on your TIME investment to maximize your wealth and time freedom over the long term.

Resources:

• More Than Half of Mutual Funds Underperform the Market. Here’s Why You Can Beat Them. – Article 
• Stock picking has a terrible track record, and it’s getting worse – Article
• I Will Teach You To Be Rich – Ramit Sethi 
• Book a Discovery Call with us so we can help you overcome your current struggle and take the next step in your financial journey
• Follow Kyle Pearce on LinkedIn for daily posts and conversations about business and investment. 
• Dig into our Ultimate Investment Book List
• Download our Wealth Building Blueprint

Opportunities, Services, and Consulting:

For those interested in being considered for potential Joint Venture (JV) opportunities, reach out to us here.

Contact Matt if you’re Buying or Selling Real Estate in Windsor or Essex County!

Reach out to Jon if you’re looking for an Ontario Mortgage, Ontario Mortgage Refinance or a HELOC in Ontario.

Get in touch with Kyle to begin your journey through his Canadian Wealth Planning System.

Check out the work Jon and Kyle do assisting mathematics educators and district leaders.

Watch Now!

00:00:00:03 – 00:00:23:22
Kyle Pearce
As you bring that number of stocks down. So the S&P 500, that’s 500 companies that are in there. And yes, some of those are going to have off years and it’s going to weigh down the index. And some are going to have large upside years where they’ve really performed. So I totally understand here the logic. However, the part that I think we miss here is this Hey, they’re friends.

00:00:23:22 – 00:00:34:21
Kyle Pearce
Back in episode 52, we explored managed mutual funds under the microscope and invested rated. Whether there is ever a time where managed mutual funds might make sense.

00:00:34:23 – 00:00:50:16
Jon Orr
Today we want to unpack whether there’s a case to be made for investing in the stock market as a stock player or a stock picker, or whether you should be really a stock spectator and take the index fund or a mutual fund approach.

00:00:50:18 – 00:01:08:11
Kyle Pearce
So today we’re going to look at a foolish claim by a common stock picking subscription website advocating for how you regular old entrepreneurial do it yourself. You can beat the market ahead of all the managed mutual fund managers out there.

00:01:08:13 – 00:01:19:06
Jon Orr
We’ll also look at the data to determine whether stock picking generally leads to higher returns than market indices or whether stock pickers just think they know more than anyone else.

00:01:19:08 – 00:01:52:01
Kyle Pearce
And will also look at some other considerations that you should be thinking about before you take on any type of active driver seat investment involvement strategy, be it stock picking options, trading, real estate, wholesaling, flipping, boring buy and hold any of these active strategies. So that you can determine where you will receive the greatest return on your time investment to maximize your wealth and time freedom journey over the long term.

00:01:52:03 – 00:02:04:15
Kyle Pearce
Here we go.

00:02:04:17 – 00:02:09:00
Kyle Pearce
Welcome to the Canadian Wealth Secrets podcast with Kyle Pierce and John.

00:02:09:00 – 00:02:17:13
Jon Orr
Or get ready to be Todd as we share our successes and failures encountered during our real life lessons. Learning how to build generational wealth from the ground up.

00:02:17:15 – 00:02:49:13
Kyle Pearce
Welcome invested students to yet another episode of the Canadian Wealth Secrets podcast, where we look to unravel some of the investment world strategies and we try to help you figure out what is best for you, your family, and to help you reach that time freedom goal that we are all after. So, John, today we’re going to be diving in as we mentioned in the intro, we talked in the last episode about mutual funds under the microscope.

00:02:49:15 – 00:03:08:19
Kyle Pearce
And we actually sort of came to this conclusion. I think some people may have been surprised by how easy or how we let mutual funds, especially managed mutual funds, off the hook a little bit, because you hear people arguing about it back and forth. However, there are some people out there that are like very, very clearly fans of mutual funds.

00:03:08:19 – 00:03:29:01
Kyle Pearce
For example, Dave Ramsey is kind of like the get out of debt king out there. He’s a proud supporter of mutual funds. I just want to reference, though, for those who know Dave Ramsey’s work, his numbers on average that he uses for his calculations are greatly inflated, is at 12% or something ridiculous like that. But he’s a big fan of mutual funds.

00:03:29:03 – 00:03:52:22
Kyle Pearce
However, a guy like him, he’s also has some perspectives that actually were not necessarily in line. So we like some of the things he says, but some of the things he also says. On the other hand, we disagree with the mutual fund part we’re fine with. However, there’s some other people out there like Remit Sethi or S.T., who believes that index funds are the only way to go and that you should avoid mutual funds at all costs.

00:03:52:24 – 00:04:12:03
Kyle Pearce
To me, it’s like when I look at that debate between mutual funds and index funds, I know that there can be a difference and that difference can make a big change over time. At the end of the day, I feel like those decisions are actually less important than some of the decisions that I think people have to be thinking about.

00:04:12:03 – 00:04:15:09
Kyle Pearce
And we’re going to cover those in this episode right here today.

00:04:15:11 – 00:04:35:14
Jon Orr
Yeah, it kind of goes to the right to touch on that. That big idea that we unpacked last time on that, which is kind of thinking about the who and how should you be venturing into spending some time going down this route to be that more hands on approach? Or should you be spending some time kind of sitting back and letting the work get done for you in a way?

00:04:35:14 – 00:04:52:03
Jon Orr
So that’s one of the big trade offs or pathways that we have to we have to think about when we’re making these types of decisions. But Kyle, why don’t you jump into this foolish claim that you referenced in the intro and will impact this foolish claim and see if we can do any better?

00:04:52:05 – 00:05:20:00
Kyle Pearce
Yeah, I love it. I love it. And we’re picking on this one in particular. I mean, the name, it kind of makes it nice and easy. There’s an article by Motley Fool and John. I know for a long time when we started our stock Trading and Options journey, we were listening to this, particularly when we were introduced to Rule one Investing by Phil Towne, who actually his strategy is much like our real estate strategy and his is based off a Warren Buffett and a margin of safety.

00:05:20:00 – 00:05:41:20
Kyle Pearce
So I really liked his approach from a fundamentals perspective and I would argue going all the way back to Bill Townes approach that you can actually do well as a stock picker. Now The Motley Fool tries to do something similar, but they also build in like that. Their analysts have some sort of edge, some sort of fundamental edge.

00:05:41:22 – 00:06:03:24
Kyle Pearce
So we listen to their podcast for a very long time. We actually subscribe to their website for a little while. Great information there. However, when we actually look at it in this article, they say that the title is more than half of mutual funds underperformed the market. Here’s why you can beat them. That’s the title. Talk about some great hook material right there, right where you’re like, Ooh, cliffhanger.

00:06:04:00 – 00:06:29:04
Kyle Pearce
Tell me more. And ultimately, they unpack this idea that in 2022 that exactly half of all domestic funds in the U.S. underperformed the S&P 500. So that means half beat it, half didn’t. So it was a coin flip, right, whether you picked on the up or on the down. So who knows? But in 2021, when the index gained 29%, 80 of the funds underperformed.

00:06:29:05 – 00:06:52:02
Kyle Pearce
So they state facts here that it’s like, wow, that’s not a good thing now. I mean, it helps us for our argument in the last episode that, okay, so it sounds like sticking with the index in 2021 would have been helpful. But when they go on to share sort of their strategies, they’re talking about sort of trying to get rid of the losers and just focusing on all the winners.

00:06:52:02 – 00:07:29:06
Kyle Pearce
However, as you bring that number of stocks down, so the S&P 500, that’s 500 companies that are in there. And yes, some of those are going to have off years and it’s going to weigh down the index. And some are going to have large upside years where they’ve really performed. So I totally understand here the logic. However, the part that I think we missed here is this fact that doing this, anyone who’s going to confidently be stock picking, I don’t think you’re going to want to subscribe to a website and then simply put on a blindfold and follow whatever recommendations they’re giving you.

00:07:29:06 – 00:07:41:04
Kyle Pearce
Right. I feel like you’re going to have to really stay on top of things. You can’t just go, okay, here’s what they want me to buy now I’m going to ignore for a year and like everything’s going to be great and we’re going to beat the index.

00:07:41:08 – 00:08:01:09
Jon Orr
Well, I think that’s what they’re trying to get you to do, Kyle, is that they want you. They’re actively managing their portfolio, right? And they’re like saying, Hey, come along for the ride. We’ll tell you the moves to make and you can mimic our portfolio, but you still got to do the moves. So it’s kind of like saying like, I’m going to manage this.

00:08:01:09 – 00:08:21:10
Jon Orr
You got to pay a subscription fee for us to get the same moves that we’re going to make and we’re going to do the picking. We’re going to talk about the analyzing and you can blindly follow what we’re doing here while we educate you about why we pick stocks and how you should pick stocks. They can do that really well and they talk about updates really well and they share all that information really well.

00:08:21:12 – 00:08:41:13
Jon Orr
But I think a lot of people are still just doing the blind fall like they’re going to their financial institution and picking a mutual fund. They don’t have to do the thinking. Someone else is doing the thinking. For him, this is like one step up from that going, Well, I still don’t have to do the thinking because if I follow their moves, then I just have to make the same moves at the same time.

00:08:41:19 – 00:09:01:15
Jon Orr
But I still have to be actively each week checking in. There. Is that active part of this because I’m like, okay, now I’m a stock picker, but I’m not really doing the thinking on my own. Whereas Bill Towne would teach, This is how you want to think about the stocks you want to put in your portfolio. Here’s how to kind of structure that he teaches it for you.

00:09:01:15 – 00:09:31:00
Jon Orr
And I think Motley Fool does that teaching as well. You can learn from them how to do that on your own. But this is the question, right? Like this is why people go on mutual funds is do I want my time to be actively managing? And if you’re like, I’m really excited and interested in it’s my hobby and I just get a kick out of it and I just want to know, then go down that route and be the stock picker or follow their moves until you feel confident you can pick stocks on your own.

00:09:31:02 – 00:09:57:22
Jon Orr
Like that’s a whole mindset and lifestyle almost that you have to get into. And I get that. I get that people who want to be stock pickers and go down that route because it’s like I thought this to Kyle is when we thinking about this blind follow is like, do I want to be blindly following someone or something when later on, like I always think later on I’m like, Do I want my future to be in the hands of someone else?

00:09:57:24 – 00:10:16:05
Jon Orr
And I can do that. Learning. I have a trusted advisor or trusted people I can talk to, but I mean, I like to be able to have a little hand and say in that. So that might be that person who was like, I want to spend that time because I don’t want to be reliant on someone else if the shit hits the fan or something like that, you know, Whereas so you got that reliance.

00:10:16:09 – 00:10:24:02
Jon Orr
But the other part is like, do you want to go down that path? And spend all that time? Or do you want to like, Oh, hey, wait, my time is better use somewhere else?

00:10:24:04 – 00:10:42:05
Kyle Pearce
Yeah, totally. And we’ll dig more into that time part quite a bit. I’m going to throw myself out there. We know on the podcast we’ve shared I am a fact finder. Those who are fact finders, You probably relate to some of the things I share, which is when I find an idea or something that interests me, it makes me curious.

00:10:42:05 – 00:10:59:01
Kyle Pearce
It’s like, I want to know. I want to get to the bottom of it. I don’t just want to be like, Oh, that seems like a good idea. Maybe we try that at some point. I’m like, No, no, I want to know now and I want to go down that rabbit hole. So some of you out there are like that, and I’m not discouraging you from going down that rabbit hole.

00:10:59:01 – 00:11:30:09
Kyle Pearce
If that gives you energy, give it fuels some energy. But you do have to be conscious of how much time and effort you put into it. So what I tend to do is I put off my rabbit holing in the evenings. So I look at it is I still consider it work because it is I am going down rabbit holes and looking at strategies and I’m do a lot of those things, but it’s like I do it outside of what I would consider my work day and I do it in the evenings so that I continue to learn and I can continue to analyze like, where are we going?

00:11:30:09 – 00:11:49:01
Kyle Pearce
What are we doing, what’s good for us, what’s not. And the reality is, is the further down these rabbit holes I find myself, the closer or I guess the more convinced I become that I’m like, Wow, it takes a lot of time and effort to do all of these strategies, even though I’m super curious about them and I get excited about them.

00:11:49:06 – 00:12:11:14
Kyle Pearce
But it takes a lot of energy, it takes a lot of time. And even when it comes to, for example, signing up for a subscription like from this particular website The Motley Fool, and I’m not discounting that the stock picks that they share aren’t good ones, but there’s still more to the puzzle because I found for us when we were early in this process, we were like, Oh, okay, so they’re saying Facebook.

00:12:11:14 – 00:12:28:06
Kyle Pearce
So by now, mind you, this is years ago. So we’re not telling you, hey guys, Facebook. So by today, that is not what we’re saying. But when they said that, we’d be like, okay, we should buy some Facebook. How much Facebook should we buy? 10% of our portfolio. 5% of our portfolio. There’s that part that you really have to work through, too.

00:12:28:06 – 00:12:53:09
Kyle Pearce
And then what you’ll find is inside there they’ll have a little mini course on how should you allocate your weightings in your portfolio. So when they give you a stock pick, it’s not just like, hey, go out and buy because they might be buying 1% of their allocation, it might be 20% of their allocation, or they might have a completely different allocation because the portfolio that they’re managing for themself has a very different goal than what your portfolio has.

00:12:53:11 – 00:13:19:05
Kyle Pearce
So beyond just knowing what stocks you want to pick, knowing what you’re trying to do with your portfolio, what is your time horizon, How much money do you have in this portfolio? How much time do you have to rebound if, let’s say it’s a wrong pick because it’s not like they’re perfect. They don’t make perfect picks. So everything that we do in this world, when we start thinking about more active investment, right?

00:13:19:05 – 00:13:39:09
Kyle Pearce
More active investment can lead to can lead to doesn’t guarantee that it leads to, but it can lead to a higher return. But the conversations I’m having with a lot of listeners that reach out to us and book discovery calls, we always encourage you if you had to invest it. Teacher com forward slash discovery, hop on a call.

00:13:39:11 – 00:14:04:20
Kyle Pearce
We’ll go through your scenario and we’ll try to give you some things to think about. We’ll never tell you what to do. That’s not what we do. We try to provide you with a next step. That is our number one goal and I’m finding that a lot of the next steps that I’m having people at least think about is whether the journey they’re currently on is the best fit for them, given their goals, which they sometimes aren’t.

00:14:04:20 – 00:14:28:04
Kyle Pearce
Clear on themselves. But I can hear it through their language and also the amount of time and effort it takes to get that return. So an example I want to give you is someone who, let’s say, wants to stock picks so they can make 12% or 15% per year. Private lenders are doing 15% deals right now. You want to earn 15%.

00:14:28:04 – 00:14:46:13
Kyle Pearce
That’s great. But how much time and effort is that going to take you in order to actually find the right connections that you want to actually do that? Private lending. There are great ones out there. I don’t want to name any names right now, but there are some that we can point you to if you’re interested in going down that route.

00:14:46:15 – 00:14:59:20
Kyle Pearce
Are you sleeping okay at night or are you constantly thinking about your investment? Right. Is it distracting you from the work that you are? We’ll call it John. We talk about the queen bee role. Is that Geno Wickman, who talks about the Queen Bee role?

00:14:59:20 – 00:15:00:16
Jon Orr
That’s Mike McCalla.

00:15:00:16 – 00:15:29:08
Kyle Pearce
It’s Mike McCalla. It’s his book, Clockwork Clockwork. I love it. We talk about that. We use that metaphor quite a bit because John often mentions it to me when I’m doing a certain thing. Is it my Queen Bee role? John has a different queen bee role. What’s your Queen bee role? And when we’re talking about investing, are you going to commit and I’m going to say it’s thousands of hours if you want to do this sort of stuff confidently, right?

00:15:29:10 – 00:15:57:00
Kyle Pearce
You want to invest in real estate. I would recommend that if you are going to do it, you’re going to have to put in thousands of hours. You don’t want to just blindly go in there and just kind of hope it all works out. You need to invest the time. So the question then becomes if the return is 15% or I was chatting yesterday with someone who was interested in a joint venture, if the return on a joint venture is 15% or 20%, is that going to be stressful for you?

00:15:57:00 – 00:16:22:04
Kyle Pearce
Is it going to distract you from how you got that money in the first place? And most people, when they come for investing advice or ideas and strategies on what they might do next, Usually the money they’re coming with is money they made outside of investing. So it’s like, Well, how did you get that money? Maybe you want to focus on how to do more of that and then let something more simple take the reins over here.

00:16:22:04 – 00:16:46:03
Kyle Pearce
We say, like, maybe you don’t want to get into the driver’s seat, maybe you want to get into the passenger seat and you want to let the index fund take you or a joint venture, take you, or maybe you want to do something super safe, Right? So ultimately, at the end of the day, just figuring out when you look at a straight up return, how much time and effort will it require of you in order to get that return?

00:16:46:08 – 00:17:13:24
Kyle Pearce
And then after when you actually put it all out on the table in comparison to the time, effort, stress and involvement that you have, are you actually winning to see even the index? Right? If the index on average is 8% or whatever it is, are you actually getting double the return or actually are you losing have you actually lost on the arbitrage here based on the effort and the time and the lack of maybe safety that you’ve now put yourself out there with?

00:17:14:01 – 00:17:32:16
Jon Orr
It’s an important question. I think most people don’t think about that return on time investment. And if you’re kind of like what you’re saying, but you are in some cases, if you’re like, I’ve got this block of time that I’m okay going down rabbit holes, like at night, you know, it’s late. It’s not like going to require a lot of thinking.

00:17:32:16 – 00:17:50:00
Jon Orr
I’m not doing any moneymaking activities anyway. Then I could take this hour, take this hour and a half and go down a rabbit hole, and that lab budget is going to let me learn. And I need to learn this. And I learned this. That’s how you probably got into options trading and that’s how you got into real estate in the first place.

00:17:50:00 – 00:18:11:05
Jon Orr
You went down these rabbit holes. There’s that genius hour, that 20% time that says, you know what, You spending 20% of your time investigating something new can turn your life into something brand new and you can go down these pathways, but maybe that’s just your hobby time. One set of doing a hobby instead of watching the hockey game tonight, you go down that pathway.

00:18:11:06 – 00:18:42:16
Jon Orr
There’s nothing that part no problem. But if you are going but I finding myself every day thinking about this move, this was true for me in the stock hacking in options trading when we were building our math consulting business in our math resource business, in our math coaching business, there was parts where I was spending way too much time trying to do the options trading during the day versus the moneymaking activities that I know get us results over in that land, in that space.

00:18:42:16 – 00:19:04:00
Jon Orr
And it was like that, timed it and it was like, Well, I was excited, this was fun, this was new. But actually it was taking me away over here. And if you add up all that return, if you factor in your time, it actually was worse than just letting that index run. And it was actually reminded me of another story, Kyle, that we had a real estate deal and I think we talked about it here on the podcast where we had to make that choice.

00:19:04:00 – 00:19:29:22
Jon Orr
It was like we could go down this pathway and take this bigger property that it wasn’t bigger than anything that you’d had in your portfolio already, but it had some issues that we would had to address. And that part that’s the same type of decision making that’s happening right here with stock picking or letting the index fund run is saying like, we could go there, we could get a better return, but it’s going to take a lot of our time.

00:19:30:03 – 00:19:49:00
Jon Orr
It’s going to take a lot of new learning. We could go down that pathway, but we’ve got this stuff over here that we need to address and we can’t be pulled away from the moneymaking activities over here potentially at this time to get this potential payoff in this investment. So we decided not to go there because our best time was used over here.

00:19:49:02 – 00:19:56:14
Jon Orr
That part has to come in our decision making processes and it’s so important moving forward when you’re kind of deciding what’s best for your life.

00:19:56:16 – 00:20:20:22
Kyle Pearce
Yeah, that example is such a great one. It didn’t come to mind when we were planning this topic for this episode, but you’re so right, that particular property had value in it. So it was like if we got that property, this was our challenge as partners Meet you. Matt Our challenge was that it was clearly enough margin of safety there, but it was that time, which is invisible.

00:20:20:22 – 00:20:39:14
Kyle Pearce
It’s invisible to see that the time and the capital that would be required out of pocket in order to get it to the place that would provide us with the upside. And we looked at it and sort of went, you know, I could also get a job waiting tables every night and make a lot of money doing that too.

00:20:39:15 – 00:21:10:00
Kyle Pearce
But I’m not gonna just like I mean, there’s a lot of upside there too. You like I don’t want to do that. Maybe that’s a bad example, but the ultimate piece here that hit me when you talked about the options trading and talking about our business, and this is the part that I hope people are listening to, especially those who are listening, who are entrepreneurs, be it side hustle, but really are full time business owners or are full time investors, is thinking about what you have to put up in order to get the return on a particular investment.

00:21:10:02 – 00:21:30:14
Kyle Pearce
So when you have to put up money and time, you’re actually putting up two resources. And you know what? What clicked with me is that if we took that same time and we just put it into our business, we didn’t have to put any capital up all we had to put up with was time. And that is an infinite money printing machine over there.

00:21:30:15 – 00:22:02:09
Kyle Pearce
The return on that. Now, don’t get me wrong, there’s time. But on the other hand, to these other active investment strategies, our time as well, and they are mental and they’re exhausting at times. So I mean, we’re not trying to say to people not to do any of that, but what you really want to do is you really want to be thinking long and hard about where do you make most your money, Where do you get your biggest return in on time and on capital, and which ones are really important to you?

00:22:02:09 – 00:22:27:18
Kyle Pearce
And I’m starting to finally recognize that even though I will still go down my rabbit holes, I love learning and I love sharing that learning with others out there, the community of our listeners and anyone else that comes into my network. I love that aspect and I love to be able to help people along, but I also love to be able to tell them exactly why I’m not doing that strategy and why it might be good for them, but isn’t necessarily good for me.

00:22:27:24 – 00:22:53:03
Kyle Pearce
Right? Or sometimes it’s trying to redirect them and saying, I know you’re thinking of going down that path. Have you thought about x, Y, or Z? And is that something that is actually worth it to you, or is there something else that you could do to, again, put a little more effort into your business so that you can create more income and then select investment strategies that are bite safe?

00:22:53:03 – 00:23:16:05
Kyle Pearce
Nothing is 100% safe, but there are ways that we can structure things so that they are safer and they take less mental energy. And you know that over time they’re going to be okay to protect all of the assets that you’ve created. So these are just some things to think about, especially for those who are out there who are like, Hey, I’m going to take what I have.

00:23:16:05 – 00:23:38:11
Kyle Pearce
My assets are worth this. And if I just grow them at 15% a year or 20%, we’re using these big numbers in order to get to this place. It’s like, again, we start talking about the home run piece, right? It’s like you’re in the majors now, right? When you’re taking large sums of capital and you’re putting them into different investment opportunities.

00:23:38:13 – 00:23:58:22
Kyle Pearce
And there are times where this can be helpful, but there’s also times where maybe it’s not. And I would argue that over the past ten years, there have been more lucky investors out there than actual skilled investors. So I’m going to say that again, There have been more lucky investors out there that no matter what you did, you were in pretty good shape.

00:23:58:24 – 00:24:16:11
Kyle Pearce
But we’re starting to see that change. That tide is changing for a lot of people who are might still be in an investment that was working and all of a sudden some of those investments are no longer working anymore. So the question then becomes is, is that really worth the time, energy and the capital risk that is there?

00:24:16:11 – 00:24:35:16
Kyle Pearce
So big takeaways here from this particular episode, and I hope that some of you listening have had some mini epiphanies about maybe who you are and where you should be committing the most or the majority of your mental energy, your time, and maybe where we’re putting that capital.

00:24:35:18 – 00:24:52:05
Jon Orr
Excellent. I think that is one of the big takeaways we said we would give you here in this episode. I’m thinking about like that active involvement and really consider a ring that we also talked about exploring and unpacking a little bit of data that helps decide whether we should be going in the market indices or in picking stocks.

00:24:52:11 – 00:25:26:24
Jon Orr
We talked about that foolish claim, that stock picking, that if we can pick the right stocks, we can outperform the index or vice versa, or maybe the index is going to outperform that stock picking. We wanted you to give you that information so that you can help decide for yourself on what is the best course of action for you so that you can like what Kyle said, live the life that you want, sleep at night, feel confident that your investments, your money, let’s say your retained earnings from your business, is putting it to work so that you can reach even more a more money through your business.

00:25:26:24 – 00:25:31:00
Jon Orr
So we were hoping to give you those and hope You’re nodding along saying, Yep, I got some of that.

00:25:31:02 – 00:25:49:18
Kyle Pearce
I love it. I love it. Hey, friends, listen, if you are a first time listener, hit that follow button or subscribe button on whatever platform you’re on. Ratings and reviews go a massive way. So we so appreciate all of you who are taking the time just to do a quick little one liner and say something that resonated with you.

00:25:49:23 – 00:26:16:20
Kyle Pearce
It really does help us reach a wider audience. And remember, we’re here to help you out. Visit the Canadian Wealth Secrets dot com website shownotes are over there. Links to resources all of those details. But in particular what I want to call your attention to is the fact that we are always looking to grow our network and always looking to give you at least one take away from any discovery call that we hop on.

00:26:16:20 – 00:26:42:01
Kyle Pearce
So head on over to Canadian Wealth Secrets dot com forward slash discovery and you can hop on to chat with us and take whether it’s just to say hello and meet or whether you’ve got maybe a pebble kicking around in that shoe that you’re looking to help receive. Maybe just another perspective to help you knock it out. Go ahead and reach out to us over on Canadian Wealth Secrets dot com forward slash discovery.

00:26:42:03 – 00:26:54:10
Jon Orr
All links and resources and the transcript from this episode can be found over at our show notes page and and teacher dot com for access episode 53. Again that’s invest in teacher dot com for this episode five three.

00:26:54:12 – 00:27:15:07
Kyle Pearce
All right my friends invested students class dismissed.

00:27:15:09 – 00:27:25:00
Jon Orr
Just as a reminder of the content you heard here today is for informational purposes only, you should not construe any such information or other materials legal tax, investment, financial or other advice.

00:27:25:02 – 00:27:49:14
Kyle Pearce
John. Or is a mortgage agent with bricks. Mortgage that is license number m23006803 and I Kyle Pierce. I am a licensed life and accident and sickness insurance agent and wealth architect with the Pan Corp team that includes the teams over at corporate advisors and Pan Financial.

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