hi you guys I'm Phil town from rule 1 investing and I'm really excited to talk about what kind of investment training
Some common questions I get on a dail
y basis are how can I start investing what kind of training do I need what kind of resources do I need to get started so I'm really glad you guys asked that and let's dig into it in this video first off anyone can start investing right anyone can start investing I started investing I was a river guide inthe Grand Canyon right so I love the idea that you guys can get out there and do this stuff and that's why I do what I do that's why I do these kinds of videos and books and all this other stuff so most people know by now you know that I was making like four thousand dollars a year when I first got rollin out there in the Grand Canyon
I got introduced to investing out there and I was really lucky I got to apprentice to a really good investor who showed me the ropes and man I just took to it like a dog to a bone I I don't even I can't explain that either I have no idea I never even thought about being an investor before I ended up as an investor and now it's I don't know it's my passion it's what I love doing and honestly before that day I could tell you for sure no one in my family was thinking me as a guy with money I mean we're all blue-collar family it's just not gonna happen
I might as well been thinking about becoming a professional racecar driver he's just like that you know I'm not gonna be the quarterback out there it's just not in my life but here's the thing becoming I find this this is something I just found out it is so amazing when I first got started it was so different than what I thought being a great investor it's not rocket science you guys it's it's not that hard it's just understanding a few basic principles and dedicating some time to learn those principles and if you'll do that you empower yourself you empower yourself to make a whole different life for yourself you empower yourself to make great decisions as an investor and and you set yourself up for financial independence financial freedom and that's why today what I want to discuss are some of the pros and cons of kind of the investment training options that are out there so that you can find a solution that works the best for you so here you are on a YouTube video so I guess we could start with that one there's a lot of free content
here's a pro of this free content like this video we're watching right now you can easily find small bits of information about specific investing topics you're curious about the cons of YouTube videos are you got to watch out that you're not watching somebody that's just trying to scam you and you know pretending they're an expert when they don't really have the boat they don't really live in the mansion and you know they're pretending to be an expert so make sure you're really taking a look at whoever's doing it and look at the actual experience they have as an investor you know that's you got to do that you want to you want to learn investing from people who do it and who do it well the the Warren Buffett's the Charlie Munger's of the world right these are them these are the people who are actually really good at this who taught me how to do this made me good at it and I can teach you guys how to do it and come on I'm managing over a hundred million dollars so that ought to be an indication that that I have some clue about what I'm doing right so that's good now investing books a pro about investing books is that these are a really great way to go at your own pace to learn really good strategies of investing
I always read a lot of books and let me tell you man the best investors I know constantly read books III know I mentioned here on this time from time to time that I got to go over and meet wha-hey Takeda who's the Warren Buffett of Japan and Japan's most successful private investor I got to spend like days with him and he was phenomenal and I got to do that because he read my book and this guy's 84 years old he reads my book right I mean it's not like it's just so amazing the discipline of reading so you should definitely make reading books a part of what you do read everybody's who looks like they're a good investor and don't just stay with books that are current read books that are written back years and years ago one of the best books I've ever read on investing is the intelligent investor written in 1949 by Ben Graham so you know books phenomenal now the problem with reading books is it's not interactive and it's not written with the current market in mind although the kind of stuff I'm looking to do doesn't really matter I think the biggest thing that is the difficulty about learning to invest from a book is that you know
Buffett's not there I'm not there you did to say oh yeah you're doing that writer and you're not doing it quite right it's it's not that hard to get off a little bit from reading the book and often some of the best books out there don't really teach you anything about how to do what they're telling you is possible to do so that's kind of the cons of book reading but you got to make it part of what you do you really do another way to go here is a live apprenticeship of some sort now this is obviously the way I learned I mean it doesn't get any better than that right where you're actually there with a great investor looking over their shoulder even if you have to clean the toilets which I did so that's a great way to go but that's tough to line up it really is tough to line up so in in lieu of that you know if you don't find you know obi-wan Kenobi to go go teach you to be a Jedi then you're gonna have to go to the next best thing which i think is some form of live workshop an investing workshop you obviously the it's a great way to get interactive training
If you've got a solid comprehensive course you want live instruction you want to have somebody right there on the course working with you not just throwing it at you all day that's really no better than just reading the book you want to have time to absorb these lessons to do it yourself on your own computer you want to have interactive training that gives you tools to use that pros use right if you're learning this from a professional they should be willing to give you the tools that they use as part of your introduction of this whole thing the cons of this are you know apprentice een takes time and commitment I mean what's the cost of apprentice in for a year and not getting paid for it
that's significant time and personal commitment to it you need to study typically during this apprenticeship you need to work hard during it and so and then finally it be get eat no matter how long you apprentice there's always some point where you have to go on your own so it's not gonna answer every question you have and as with any knowledge it gives you the confidence to continue learning so hey if you're looking for hands-on training I got to tell you we we would love to have you've got a three day two and a half day workshop my coaches and I work with you guys one-on-one going through the research steps we get you homework you're gonna come and deliver your own first stock during that workshop and you'll leave with ten great companies to go out and invest with that you guys went out and found
So I'd love to see you there so ultimately it's up to you to do the work and learn this stuff so whatever method you learn from and decide it's best for you to use go for it I've got all of these out there for you guys podcasts ebooks videos they're all they're all free out there just go get them well I guess the books across the ten bucks so go get them and and use them to take control of your financial future and then when you can maybe come to the workshop and help and we can help you get it dialed in so otherwise you know you just paying somebody else to manage your money for you and we all know how that works out you know they're not gonna have your personal beliefs your personal interests your personal values as our top priority and we'd love to see that be where you're investing from your own personal values to get the kinds of great returns you should be able to get now I'd love to hear from you guys how are you gonna start building up your investing skills
