If you're pouring time and money into a business that's not generating a return and you would like to find out whether it's worth continuing, or if your business is just limping along and you're wondering whether to keep going or throw in the towel, listen in to today's show and find out from someone who really knows.
Today's guest is Stacy Tuschl, an entrepreneur, Business Coach and author of the book Is Your Business Worth Saving. Stacy's book, which was launched in September, had thirteen thousand downloads in the first forty eight hours and also became a number one best seller. Listen in today and get some of the nuts and bolts education that you just don't get in Business School.
Today, Stacy and Kate discuss:
•The title of Stacy's book- why it works.
•What goes into the decision about whether to start your business in the first place.
•Stacy's practical advice about dealing with money in your business.
•Why hiring an expert can save you a lot.
•Some of the warning signs that your business may be in trouble.
•When it's a wise idea to throw in the towel and walk away.
•How to go about saving an ailing business.
•Dealing with psychological blocks in business.
•The main things that Stacy sees that get in the way of people having a successful business.
Stacy's website: www.stacytuschl.com
Stacy's Podcast: Business Rescue Roadmap
Stacy's Free Facebook Group: Level Up Your Tribe
Today, Kate and her guest, Wendy J. Cook talk about evidence-based investing, something which is not very easy to understand. Wendy explains the need for investors to understand what passive, or evidence-based investing is and that typically, in the financial media, you will find that the magazines, TV channels and newsletters make their money by getting you to put your portfolio together in reaction to what's happening in the current news. She explains the necessity of ignoring this short term noise, which doesn't contribute to the long term returns. She talks about some of the behavioral biases that control investors to make poor decisions and buy a random collection of what can best be described as ''stuff''.
Kate points out that this is neither an allocation, nor is it diversification- it's just a bunch of ''stuff''. She explains that this would be neither an effective nor an efficient way to manage your portfolio, as that is only a short term viewpoint, which makes people feel like they're doing something, yet it's just the illusion of a control bias. Wendy talks about this and she also clears up some of the jargon you might hear from the financial media.
Wendy is the owner of Wendy J. Cook Communications, which provides writing and editing services to evidence-based registered Investment Adviser Firms that construct client portfolios using funds from Dimensional Fund Advisers. This is exactly what is done at Kate's firm, Better Money Decisions- they use Dimensional Fund Advisers, as well as other, similarly structured solutions. Wendy was formerly the Director of Communications for Bam Advisor Services, Buckingham Asset Management. Listen in today and find out why your investment portfolio management should be based on the science of investing, rather than a reaction to current events.
Today, Wendy talks to Kate about:
•A simple definition of what evidence-based investing is.
•How having a plan when you start out can prevent you from buying just a whole lot of “stuff”.
•How she faces the challenge of breaking down the terms which refer to active vs passive investments.
•Why she would prefer to work with a professional financial advisor, even though she understands all the over-arching principals of investing.
•That the behavioral component is the most important thing.
•That the greed component is still evident to her today.
•How we, as a financial community, come up with what is and what is not supported by evidence.
•Five points from Larry Swedroe's new book, The Complete Guide To Factor Based Investing: 1) It has to be Persistent 2) It has to be Pervasive 3) It has to be Robust 4) It has to be Investable 5) It has to be Explainable
•That it takes some training to understand the data in studies. (Kate points out that data is not opinion based.)
•There is no cohesive strategy coming through the media- they are usually working against the investor and the science of investing.
Wendy's website: www.wendyjcook.com
Wendy on Twitter: @wendyjcook
For your questions about anything in the show, or otherwise, write to: firstname.lastname@example.org
The question of whether or not to buy gold comes up a lot for Kate. She mentions that people often tend to think of gold as having special powers, due to the lack of correlation with the stock market. Kate understands the appeal as an alternative asset class, however, she does point out that the lack of correlation is often the wrong reason to buy gold. Also, she reminds you to be aware that talk radio shows are often sponsored by gold traders and gold companies.
Today's guest is Peter Hug, a Gold Trader and expert commentator with Kitco. Today, Peter explains about the different types of gold investors. He also talks about rebalancing and about the times that gold is a poor investment. He gives the pros and cons of investing in it and explains that gold is merely an asset class, not a supernatural type of protection against inflation, the president, or anything else. He explains the importance of being prepared and understanding your reasons for investing in it and also understanding where gold fits into a diversified market. Listen in today and equip yourself to make the right choice, when making an investment.
Today Peter talks to Kate about:
•Himself, Kitco and what he does there.
•The idea of people using gold and precious metals as investments, in context with the other holdings in their portfolios.
•That the psychology of selling or adding to a position on weakness is difficult for a lot of investors- yet you need to do it.
•The pros and cons for an investor to be using products like ETF, IAU or GLD.
•Some of the risks inherent with buying gold because people think that something is going to happen to make the gold price go up.
•Why he thinks that BREXIT won't be as bad as people think.
•His advice to investors with an allocated portfolio, looking at financial planning, about where to start researching whether or not to buy gold.
Peter's Blog: www.kitco.com
Peter's email: email@example.com
For your free portfolio risk assessment: firstname.lastname@example.org