20:23 so far has been an incredible year.
Just this year, my portfolio is up.
Sixty five thousand dollars. That's a 17 percent gain so far.
This portfolio has reached a landmark of 90 thousand eight
hundred dollars. It's a lot of money and most of
it has come from most of the companies that I'm investing in
doing really well. All of them are performing at
different levels. Some are doing slightly better
than others, but overall the performance has been
outstanding, but even as other companies do okay, the portfolio
has been led by one Orry. And that one category is the
tech category. If I switch over to the year to
date view here, Microsoft and Apple are both up over seventeen
thousand dollars. This year, this is pretty big
games for two companies in a single year.
Microsoft, for example, is up 44 percent, it's basically a 45
degree line just going further. And further up with apple were
up a remarkable 48 percent year-to-date and likewise it's
just a 45 degree line going up and to the right it's actually
incredible. How these companies have been
Trading. And that's what I want to talk
about in this episode as these companies have performed
exceptionally. Well in price, I want to see if
their intrinsic value has followed.
We're going to be discussing intrinsic valuations, especially
of the big tech companies. We also have some additional
news, Microsoft is now saying that they're going to earn 10
billion dollars from annual AI Revenue.
Going to be looking at what that new reoccurring revenue is and
we have an update on Disney, the Disney Financial, Chief clash
with the top Executives before stepping down.
So we have the CFO Gene McCarthy stepping down from Disney and
we're going to be looking at Disney and doing a little bit of
a catch up. And then finally it's Friday
which means we go to tick tock and we try to get the best tips
for making money. Luckily, we have a tick tock
hair, which is the simple instructions of how to make a
million dollars. They go over it.
Everyone can be a millionaire. Here's how you do it.
Now, obviously, we have a lot to get to.
So let's go ahead and get started.
First of all, we do things differently here at the jaws of
Carlson show. Most investors most content
creators and most other channels are short.
Term Trend following. This channel, does not do that.
We are long-term focus on companies that I call
compounding machines compounding machines are companies that are
incredibly Capital efficient, their ones that have high
Returns on Capital employed. They're typically monopolistic
their dominant in the domain that they compete in.
They have high barriers to entry.
They have great growth profiles. These companies continually grow
organic Revenue, earnings per share and free cash flow per
share compounding. Machines are companies that it
can be held on multi-year basis. Has I buy into these compounding
machines as concentrated positions, and hold them for a
multi-year basis. Meaning that typically, I hold
companies for at least a minimum of three years.
For example, Costco has been held since 2017, half a decade
holding this company. And while I buy into these
compound machines, it's also important that I have a
different mentality. The most of the market.
And this is what I believe is a bigger distinction overall than
even the companies I pick, I've showed this slide Before at the
beginning of the year, this is the mentality that we try to
have at the Joseph Carlson show. We don't get excited.
When the market goes up today, the market is going up this
year, the market is going up. Investors are enthused.
Investors are excited. They're feeling good.
We try to avoid going along with the pack and filling in that
same excitement at the same time, when prices get cheaper
when the market goes down, we don't let that get us depressed.
We divorce our emotions from Market.
I meant we remain completely insular in our thinking and
sentiment about company prices. We're patient.
Real K, being bored at the Joseph Carlson show.
I don't invest in Nvidia, I don't invest in the most flashy
companies like Tesla. I invest in boring companies
like into it or Costco or Texas Roadhouse.
They do not have to be flashy to give phenomenal.
Gains, we don't need to fit in with the pack.
We have no attachment to stocks, I'll sell any company as long as
I think there's a better opportunity.
We remain cold. Calculated and systematic part
of the reason this portfolio has done.
Well, it's had Market beating returns so far last year and
this year is a result of the combination of the stock picking
criteria focusing on good companies.
And the mentality of having a long term perspective and
remaining detached from the rest of the market and remaining,
emotionally detached from the rest of the market.
Not going along with the pack is much easier said than done.
Most people say that they can do this, most people feel like they
can do this. It really comes down to it.
Most people struggle doing this. They get excited when everyone
else gets excited. They see the gains that they've
made this year, and they want to pour more and more money into
the same companies, making further gains, we have right
now, a market that by the actual metrics is in the extreme greed
category. This is one of the highest grade
categories that this measurement has ever had looking at this
over a timeline. This is the peak point of greed
exceeding, where it's been for the past Two years, investors
are enthused. They're pushing prices up more
and more every single day and this follows right along with
human nature. The logic is pretty simple.
When stocks are headed up, investors become very happy and
they believe that stocks will go up forever.
It seems comical when you really just think about it.
Investors think that because stocks have gone up, they will
go up forever but that's exactly what they do.
They come up with, rationalizations they Um, up
with lots of different explanations of why this stock
will never go back down of why it's headed higher and higher
and higher. Think about the companies that
this is happening with right now.
I can think of, at least, one of them that I think fits this
category Nvidia, this companies up another 2% today investors
can't pour money into this company fast enough.
The market cap is a staggering one point zero five trillion
dollars, the P/E, ratios a 40 Ford, PE the Enterprise Value to
anybody. 56. That's over double what Amazon
is. Right now, the free cash flow
yield of the company's .47 and if we factor in stock base
competent .21, but what do we have going on right now with
Nvidia? The shares are trading higher.
As the Geniuses at Morgan. Stanley have raised their price
Target from 450 to 500 dollars. The analysts always follow the
stock price, as the stock goes up.
There's no reason it'll ever come down.
There's nothing that can ever turn this train around and video
is headed for the moon and all the fools not making money in it
right now. Well you're just missing out so
you better jump on that train. If we look at a company like
Microsoft, just a year ago it was going in the opposite
direction. Look at it over the past five
years from 2021 to 2022. The price is going down and the
investor sentiment on Microsoft at the time was literally the
exact opposite as the price steadily.
Went down investors thought that it would continue to go down.
They came up with rationalizations and
justifications. For I Microsoft had always been
overvalued and it was finally going back down and this time,
it was deserved. So we have the mentality of the
market. When stocks go up investors,
believe they'll go up forever. When stocks go down investors,
believe, they'll go down forever and obviously, neither of these
cases are accurate. The truth lies somewhere in the
middle. Every company has an intrinsic
value. And that's what we try to
measure, engage our buys and sells off of.
So, knowing that investors right now are in the hypemode the
enthusiastic mode and the stocks will I'll never come back down
mode having that context in mind.
Let's go ahead and look at my portfolio and estimate, the
intrinsic value and how things have changed.
The first thing I want to do is actually go back and reference a
video. I did eight months ago, this
video was eight months ago, it was seen by 65,000, people, the
exact date was September thirtieth, twenty twenty-two.
And what I did was valuations on a lot of the companies that I
held at the time, at the very top, we had my intrinsic value
estimate for Apple. The current price of At the time
of this video was 142 dollars. Now, apple is trading at a price
that I considered to be undervalued. 140.
Right there was the undervalued price.
I said, the fair value of Apple was 180.
Overvalued was 220, apple is now at 185 slightly above my
intrinsic value estimate it trades at a free cash flow.
Yield of 3.3, a stock based compensation staff.
Free cash flow yield of 2.9. So it's actually getting up
there a little bit higher where the free cash flow you Olds
lower, but it's still healthy. Apple still has a better yield
than a lot of other comparable tech companies.
And if we're going to Value the company on an earnings basis,
it's at a 25 PE. And now I'm in the green by over
twenty four thousand dollars. Now, it's great, that Apple has
reached that fair value estimate, I believe it's gone up
to its true intrinsic value. But as the price goes up as the
market has, now given Apple a good bid.
It means the margin of safety has gone down.
For example, I think it's easier for Apple to trade from 180.
To 140, then it would be for Apple to trade from 140 to 180.
Even though both of them are 40 dollar price declines, I didn't
going from 140 down to 100 makes Apple extraordinarily cheap,
going from 180 down to 140. Just makes it undervalued so
apple right now, is that a decent price?
But the margin of safety is a little bit less as a companies
traded to intrinsic value. The way that I look at this is
that right now? Apple for me is not a by and I
know it's different because I already have A large position in
this company but I really try to add to it.
A monk's weakness, when other investors are fearful.
When other investors are questioning the future of Apple.
That's when I add more to the company right now is not one of
those time periods. Investors are not questioning
the future of Apple. Their pricing in a very bright
future for Apple, a prosperous one one that I think will happen
but it's already being priced in to some extent.
So while Apple in my opinion is not a cell I'm not going to be
exiting my holding It's certainly not a by what I'm
doing with apple right now is I'm holding.
And from what I see with apple this year, I do believe the
intrinsic value is nudging upwards as the companies
creating more avenues for growth.
There's a metric. I love to look at for the
intrinsic value of a company and it's the adjusted free cash flow
per share. This metric is the free cash
flow on a per share basis - the stock based Campana per share
basis. So, in my opinion, it's the most
pure form of free cash flow that you get and it's the best
overall. Indicator of whether companies
actually growing its intrinsic value or not.
What we can see is that over the past five years.
Apple's intrinsic value has grown dramatically.
Going up at a rate of nearly 24% per year.
I think that Apple can continue to grow its intrinsic value at
around 15 to 20 percent per year.
It seems a little aggressive but people thought this is
aggressive way back in 2017. The company's 3x from there and
the intrinsic value has grown by 3x as well.
And they've done it with Enormous ecosystem.
That is the most important part of apples moat.
As long as they maintain the ecosystem, they will continue to
find Avenues to be able to monetize their massive installed
device and committed user base. The thing that really sets Apple
apart from where it was five years ago, is the product
categories that it now has the company has an entire category
called Services, which is the high margin digital Revenue
portion of this company growing at a very fast pace there Eking
out now, over 20 billion dollars in service Revenue per quarter,
100 billion dollars a year in service Revenue, that's like a
fortune 20 company just because of their service revenues alone.
And I don't know the exact numbers on this, but I assume
that the margins on this service Revenue are similar to The
margins of Microsoft. So while I do not consider Apple
cheap anymore and I would not instruct someone to pile into
apple with their life savings anymore.
It's not quite at the point that I would sell the company.
I'm still Looking at this type of range, if the company gets
above two hundred dollars per share but gets into the two
tens. I will be selling a large part
of my steak at that point but we're just not there yet.
Now the next big tech company that's gone through an
incredible run is Microsoft. Another large concentrated
compounding machine in this portfolio.
Microsoft trades at a price of around 350 dollars today and the
company's price. Year-to-date has basically been
a 45-degree slope going up over and over again.
And Investors are obviously in the category now of being
estatic being excited, Microsoft has literally positioned itself
as the AI dominant company trying to muscle out Google and
metaphor. That top tier position.
They predict now that AI in and of itself will lead to an
incremental, ten billion dollars in reoccurring revenue, and they
say that this will happen by intermingling all of their AI
products like chat, gbt and putting AI into being searched
into the Windows operating system and to things like Azure
and all of their various software.
So AI is now a part of Microsoft investors.
Love AI investors, love the new shiny thing to get excited
about. In this case, it's a i and it's
become a large buzzword that I do believe impact stock prices.
Now, while today, Microsoft trades around 350 dollars a year
ago when I made my valuation framework and I came up with the
intrinsic value of 350. Microsoft at the time was
trading for. $238 it went up more than $100 in share price,
what I'd like to do for the research on Microsoft and the
current valuation is reference a video.
I did on big Tech valuation just five months ago.
The video is called Big Tech his cheap and it came out.
January 6 2023. Here's a segment from that video
where I go over, Microsoft's valuation, why I thought the
company was cheap and I think this works as a good Anchor
Point currently. Now, next up, we have Microsoft,
which is another company I think is cheap.
I own this one in the story fund and my dividend portfolio.
Looking at this one, the big problem with Microsoft is the
forward P/E ratio, that's what everybody's looking at in
today's market, which I think is good, but we have to look at a
couple things here on quadrant says the forward P/E ratios
based. It's a 27 and keep in mind, this
is based on analyst estimates of next year's earnings.
And this is where we have some disagreements.
I think this is very low. It's assuming an eight dollar
earnings per share, next year when we look at a lot of Of
different assumptions. We have this right here which is
a table of different analysis to suing nine dollars.
And fifty four cents next year, my assumption is that Microsoft
can earn around 10 dollars next year if Microsoft earned ten
dollars next year which again I think they can it's no guarantee
worst case scenario. They earn eight and it's really
a 27 Ford PE ratio but if they earned eight dollars or sorry
ten dollars next year, instead of eight the Ford PE would be 20
You right now, maybe buying Microsoft at a 22 Ford PE.
If we look at that historically that means that Microsoft right
now today is the cheapest it's been since 2019 for just a
couple trading days there and then all the way back to 2017.
That's the last time you'd be able to buy Microsoft at today's
price and people are saying that Microsoft is so expensive.
Now it's such an expensive company, look at the high.
Multiple Microsoft was just trading at a 35.
Five Ford PE for over a year that's where this company trades
during bull markets with how powerful it is.
It has a credit rating better than the US government.
It's a diversified monopolistic business that has its hands in
every part of corporate America. I don't see this company going
away for another hundred years. So even if the earnings come in
a little bit lower, next year, worst case scenario, you're
getting it at a 27 Ford P/E ratio, which I still think is
inexpensive for Microsoft. But best case scenario, you get
it out of 22 for PE because next year they earn ten dollars in
earnings per share. And again, I don't think that
that's out of the question. I think there's a decent chance
they can earn nine and a half ten dollars.
So, in that video five months ago, I went over the worst case
in the best case. And like I said, the worst case
scenario was you're owning Microsoft at a 27 Ford PE which
I didn't think was all that bad and I certainly didn't think
that investors would lose money even with the worst case,
Scenario. But what happened was the best
case scenario. I say in the video that
Microsoft trades at around a 35 forward P/E, in a bull market.
And I also say that I believe that Microsoft would earn around
10 dollars in earnings per share.
Well, here we are. Microsoft is projected to earn
around 10 dollars in earnings per share in 2023 and the
companies around 350, which puts it nicely in that, 35 forward
P/E. So, we're back into the bull
market, Microsoft is now fully valued and the stock price has
gone up. Over $100 from 240 to 350.
Now, that's great for buying Microsoft, a year ago and
participating in this huge market gain and this huge shift
that's happened over the past year.
The issue has it, puts it now, nicely and that intrinsic value
category. This is the area that we don't
really want to be buying companies in.
We want to buy them in the undervalued category.
So this puts us in the same predicament with apple, we have
a company that I believe is at its intrinsic value.
I don't think it's grossly overvalued, but I also don't
think that it's now undervalued and as its in its intrinsic
value, the margin of safety is a lot lower.
The company could trade back down into that undervalued
category, but the decision of whether to lock in games and
take advantage of all of this Market, enthusiasm, or the
decision of whether to just hold the company, remain long term.
And let this thing, ride is a tough decision, Microsoft again,
over the past year has gone from a 22-4.
PE to a 35, a 22 to a 35, is a lot of multiple expansion, a lot
of investors becoming excited and investors can change their
enthusiasm on a dime and this thing could swing back around
multiples, could contract. So that's the chance you take
and the risk. You Take by remaining long.
The company right now, with Microsoft, I feel very similar
with apple that this company is not a by, but it's also
difficult to sell the company right now.
I'm going to be Baiting my options here over the next week,
whether or not I decide to trim and take a little exposure off
the table, lock in some gains, or whether or not.
I remain with my full fifty, six thousand dollar position.
But as of right now, neither Apple nor Microsoft are cheap.
They were cheap, just six months ago.
They're not cheap today. Now after that, we have some
other companies even outside, a big Tech that I did valuations
on VG, for example, was trading at $29 per share.
I said, the intrinsic value was 33 VG's a large holding of mine.
I really The company because of the Simplicity of business model
and the predictability of its cash flows and growth.
But Veatch has gone almost to that 33 dollar Mark right at the
intrinsic value trading up from 29.
Now the shift from 29 to 33 doesn't seem quite as impressive
but keep in mind that this company also has a 7% yielding
dividend pays a hefty dividend every single quarter but this is
another one that I don't consider to be heavily
undervalued right now. I consider it trading right
around around its intrinsic value, Value another company
that I don't want to continually add a ton of money.
Right now, I'd rather just hold it.
After that, we have Texas Roadhouse.
This is another company that's a little bit weaker than the ones
that I've been talking about. It's no apple or Microsoft.
It's a restaurant and restaurants have a lot more
Fierce competition. They're certainly not
monopolistic. But at the time of this video
just a year ago, Texas Roadhouse was trading at $89 per share.
I said that, that was undervalued and that the fair
value Trinsic Value Estimate for this company was 105, Texas.
Roadhouse is currently at 110, it's above that previous
intrinsic value estimate and the gains really have come in for
this company between the dividend that it pays.
As well as the capital appreciation.
I now have eleven thousand six hundred dollars in this company.
So this is another one that's in that same category of I believe
being fairly valued but not necessarily being heavily
undervalued. The big deal of Texas, Roadhouse
being super cheap, I think is mostly gone.
Now, the company should compound at its normal rate.
Rate of around 15 to 20 percent per year.
And then the last one I'll mention is Costco.
A lot of people have questions about why I own Costco.
When the company's trading far above, what I even consider to
be the true intrinsic value of the company.
For example, when I made this video nearly a year ago Costco
stock price was trading at 480 and I had the intrinsic value at
380. A full $100 cheaper than the
current price but I continued to hold every single share of the
company. So why do I hold a company that
I think trades above its intrinsic?
Value. The company has proven
throughout so much of its history that it looks optically
more expensive than it actually. Is that has been the same story
since day, one of owning this company.
And while I've been told a million times over that Costco's
expensive, Costco's, expensive Costco's expensive, the stock
has always done well, it's always done.
Well, it's always out performed, it's one of the most consistent
earnings grower ibadah, grower and free cash flow per share
grower and out of the durability of different companies.
I consider Costco. To be incredibly durable, even
though it operates in highly competitive environment.
Since that video Costco has moved up from 482.
Now, 5:30 the company continues to move up and price above
expectations and for me this is something that's really not that
unexpected. It's beat the market
year-to-date. It's performing like it does.
Typically Costco will have minor sell-offs from time to time.
Those are opportunities to buy the dip but overall the company
will continue to compound so Costco's once again in this
Corey of companies that I don't want to be buying right now, I'm
not adding to this position, but I also don't really want to sell
out of it. I really want to keep my
interest in this wonderful business.
It's proven itself, time and time again.
And when I underwrite the future growth of the company, I don't
see it slowing down anytime soon, so I have to admit, I'm in
an odd position right now. Almost every company in my
portfolios doing exceptional and I'm finding few places to put
money that I consider to be easy.
Money like I did just a year ago.
I would never come out with the video.
Big Tech is cheap today just the opposite.
I think many of these companies are getting a little expensive
and there's a couple things that are a little bit concerning in
the market. I think the behavior behind
Nvidia, shows an incredible amount of greed, the amount of
money being poured into this company day after day is a
little bit, alarming and videos. Now, bid up to prices that have
an incredibly bright future. No price is too high currently
for NVIDIA. So I know that investors are The
a stick were in a bull market. Things are exciting right now,
but we need to remain cold and calculated and make rational
decisions. And when I look over my
portfolio, trying to find the few places that haven't had the
same excitement as the rest of the market.
There's a couple that I can find.
One of them is in the Industrials.
The railroads so far this year, have not done.
Well, they really have had no enthusiasm whatsoever.
There are the exact same price when I bought in at the
beginning of this year. So, year-to-date in comparison.
Against the S&P 500 or the QQQ companies like Canadian Pacific,
Union Pacific, I would imagine Canadian National Railway and
any of the other railroads are not doing so hot.
So these companies seem very interesting to me, I'm going to
be adding more to both of these positions.
I know it seems like the wrong thing to do right now.
We should instead be piling our money into Apple Microsoft,
Nvidia and Tesla. That's the opposite of how good
investors operate. They pile money into the
companies that are not currently.
Loved by the rest of the market Canadian Pacific and Union
Pacific. Have no magic surrounding them.
There is no love being given to these companies and don't let
the lack of stock price fool. You, these companies are
compounding machines, they meet every single metric.
Here is the adjusted free cash flow per share of Union Pacific.
It is up. And to the right for the past
decade, it's given Market beating returns with incredibly
low risk, and it pays a high yielding dividend at the same
time. Canadian, Pacific's, a wonderful
company led by an incredibly intelligent management.
That now had a great acquisition go through, it'll expand the
earnings power of this company, and this is another one that's
been widely Market beating for the past decade.
It's grown it's adjusted free cash flow per share, it's grown,
it's free cash flow like crazy. The earnings growth have been
incredibly consistent so while investors are ignoring these
companies while they're just kind of tossing them to the side
because right now ai is the focus and these don't have ai in
their name. I think their goodbyes right
now, I'm going to be buying both of these companies and adding to
these positions. Other companies that I think are
a good buy right now in my portfolio, one of them is sp
Global. This company has had a little
bit of a bid this year, so it's actually starting to get
recognized as an AI company, as a digital leader, as being a
monopoly. This one's going up a little
bit. So I'm not adding more to this
position as it's already. Very sizable.
But the one that really hasn't moved, a whole lot is into it,
some slightly, I'm in the green by 1500 but I still think this
company doesn't have the same Same level of enthusiasm as we
see in big Tech, if we look at the past five years into it is
all the way back to where it was in late 2020.
So into it's another one that is long as this company mostly
stays flattish, I'm going to be adding more to this position,
getting it up to around a 40,000 dollar position.
So that's where I'm at right now.
It's difficult to find places to add money and it's difficult to
know whether to hold or whether to sell.
For the most part, I bought into companies, it will compound for
a long period of time. So I feel fine holding these
companies even at their in As value.
But as the market continues to race up and investors believe
and investors believe that there's no price too high.
I will take advantage of that in a calculated way.
That's a portfolio update. This time.
Let's go ahead and move on to the news.
We have some breaking news that a chief executive at Disney has
abruptly stepped down and this woman was the CFO of the
company. She had been there for over two
decades and they say that this wasn't her just deciding to exit
the company and take a retirement that was part of it
but more importantly She was actually having huge.
Disagreements internally. There's a lot of Discord between
her and different groups, the abrupt exit of McCarthy, caught
some colleagues and Associates by surprise.
A person, familiar with her situation said that, there had
been no dramatic changes in her life recently, that would
require her to step back McCarthy had clashed with Disney
chief executive, Bob, Iger and other top Executives over
strategy, including the amount of money that Disney spends on
content and a recent restructuring that she felt had
not gone far enough. Of the Streamline, the company.
So she had big disagreements with Bob Iger and in one way, or
another decided to leave the company.
Obviously, when top executives are leaving the company, that's
not a really good sign. It's not something that I love
to see. This doesn't mean Doom and Gloom
for Disney. That's not what I'm saying here,
but it is a little bit of a red flag.
It just means that things aren't running smoothly in the company.
They don't all see in the same vision.
They're not all. Executing the same plan and
Disney's a tough one. It's a company that I used to
own. I did have this company as a
very long-term holding. I started investing in the
company in 2017. I held it all the way to 2023.
So I held the company, well, over five years and in that time
period, Disney gave me one reason or another to become
less, and less committed to the company as an investment to have
less and less trust that they would build compounding,
intrinsic value for the investor.
Now, looking at the company price now and the decision to
sell. It seems pretty easy.
I sold. A company around 115.
So, as right at this point around here, this is one of the
activist investor came into the business and really bump the
stock price up. I use that as an opportunity to
exit at what I consider to be. Not such a bad price.
But now it's traded down to around ninety one dollars per
share, which is where it's had major support.
The stock price, typically trades down to around that area,
it hangs out for a while and waits for another Catalyst to
potentially go higher. But looking back now, I don't
consider all cells in a portfolio to be bad.
Dad and Disney's one of the companies.
That as I look back on it, I have no regrets in selling out
of this company. It may go up in the future, but
I think it's very unpredictable. They have so much cash flows to
make up for so many things have to go right with their
execution, they're building out Disney plus, and then continuing
to use their same brands of Star Wars and Marvel, which are
becoming a little bit exhausted. So I really genuinely wish
Disney investors continued luck in the stock.
Hopefully, they're able to turn it around, I'd be happy to see
that. But as of Right now, this is
another thing that I consider to be a small red flag.
Now, it's Friday, which typically means that we have
some advice from Tick-Tock. And in this week we have the
advice of how to become a millionaire.
So I hope you have your pencil sharpened.
I hope you're ready. I'm going to instruct everybody
with the help of tick-tock of how we can all easily become a
millionaire. Here we go.
Someone wanted to make a million dollars that was their dream in
life. What would you recommend to
them? Anyone can really become a
million because like the world is so big at the markets are so
massive. All you got to do is get a
dollar from a million people out of that's it.
The markets are so massive and you can become a millionaire
because the world is like so big.
It's so big out there that you can become a millionaire and all
you have to do is get one dollar from a million people.
Simple as that just go find a million people and get a dollar
from each of them like a billion.
If you just walk around every single day asking for a dollar,
they have a guy in this video going up to a car and asking for
a dollar. You have to do is repeat this
same process 1 million times and then you're a millionaire.
In fact, if you really break down the math, you can become a
millionaire in less than one year.
All you have to do is ask 2,700 people for a dollar every day.
You can get to know it's pretty easy.
So like imagine if you actually worked hard is actually, you
know, not that difficult. Now I get the idea here.
I don't want to rag on this message too much.
I do think that people can become millionaires over time
with a lot of Ellen, a lot of good judgment and a lot of hard
work so that's not a message. I necessarily disagree with but
saying that it's easy repeatedly, and all you have to
do is get one dollar from a million people that is the same
as asking 2,700 people for a dollar every single day for an
entire year. That's how many it would take
you to get one dollar from every single person.
Obviously, that's not that easy and saying that there's eight
billion people on the planet is really not that applicable.
First of all, a lot of those billions of of people are not
going to give you a penny, they're in different countries.
They're trying to get money of their own, they're not going to
be handing out money to you, just because you go up and ask.
So while I agree with the message to not limit yourself,
don't think that you can accomplish great things.
I also think this over simplifies things a little bit,
getting to a million dollars is a very difficult feat to
accomplish for most people. It takes a lot of continued hard
work and dedication and serving an offering a lot of value to a
lot of people over many years now.
That's all for this episode. I'll see you in the next one.