👉 Which of the 5 investor levels are you? Read the key takeaways and get your one-hour action plan for leveling up here: https://affordanything.com/episode766

Most investors start out as gamblers, jumping on whatever's going up. The danger isn't starting there. It's staying there for years while studying charts and believing you've become a professional.

David Leiter started on Wall Street at Credit Suisse First Boston in the 1990s and has invested in New York City real estate since 1998. He's the author of Stop Making Stupid Investments: 7 Rules to Avoid the Hype and Build Real Wealth.

In this episode, we discuss:

• How to tell whether you're investing or just chasing price moves
• The five levels investors move through, from gambling to living off your investments
• Why steady index fund investing is a great place to land, if hot tips don't pull you away
• What changes when you start asking yourself, "Am I feeling FOMO right now?"
• Why even experienced investors slide back down when the next hot thing shows up
• Why investing rewards temperament more than intelligence
• Seven rules to check yourself against before your next investment

Wherever you'd place yourself today, this conversation shows you what keeps people stuck at the first level, and what it takes to move past it.

⏱️ TIMESTAMPS

Note: Timestamps may vary slightly depending on dynamic ad placements.

(06:12) The 10% crypto offer that went to zero

(09:14) Why most investors start out as gamblers

(21:11) When a billionaire panicked, he bought more stocks

(27:35) Why a 50% loss needs a 100% gain to recover

(35:47) Why investing rewards temperament over IQ

(38:57) Coworkers called him a slumlord. He kept buying.

(52:30) Two things to demand before any private deal

(57:10) $100,000 invested, $80 a month back

(59:18) Why a falling stock doesn't mean a failing company

(1:02:04) Why he bought for cash flow, not neighborhood hype

🔗 RESOURCES MENTIONED

👉 Stop Making Stupid Investments by David Leiter: https://a.co/d/0ekcjy0y

👉 David's website: https://www.theultimateinvestor.com

👉 David's YouTube channel: https://www.youtube.com/@theultimateinvestor

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