Tony Robbins on Morning Routines, Peak Performance, and Mastering Money

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“Our revenues are now over $5 billion annually. Without access to Tony and his teachings, Salesforce.com wouldn’t exist today.”
– Marc Benioff, Founder of Salesforce.com

“[Tony] distills the concepts of the best investors in the world into practical lessons that will benefit both naïve investors and skilled professionals.”
– Ray Dalio, Founder of Bridgewater Associates, the world’s largest hedge fund

Tony Robbins is the world’s most famous performance coach. He’s advised everyone from Bill Clinton to Serena Williams, and from Leonardo DiCaprio to Oprah (who calls him “superhuman”).

For years, you’ve also asked me to interview him in-depth — so here it is! I flew to Florida to spend time with Tony in his home, and what ensued was an epic two-part conversation.  It covers just about everything imaginable. Special thanks to Joe Polish and Peter Diamandis for re-introducing us.

My visit coincided with his first new book in 20 years: Money–Master the Game.

I love Tony’s work and it helped me start my first company, but when I got an early draft of the book, I thought to myself–really? Another book on money? Ugh. I prepared to be bored, especially since I think of myself as an experienced investor [pats self on back]. Instead, and very surprisingly, I was blown away. Before I knew it, I was pushing off other work, letting my dinner get cold, and staying up hours past bedtime each night, all because I couldn’t stop reading.

Why?

First off, he saved me years of my life! Over the last 10 years, I’ve been approached by several top hedge fund managers, who’ve suggested I write The 4-Hour Investor by collaborating with them and their friends. Tony has written that book perfectly, so it saves me the trouble. I can just point people to this book. Which leads me to…

Reason number two, he goes DEEP with many of the investing icons I’ve always wanted to meet, including Paul Tudor Jones (who he’s coached for 10+ years), Ray Dalio, Carl Icahn, David Swensen, Kyle Bass, and many more. These are the hard-to-interview “unicorns” who consistently beat the market, despite the fact that it’s called impossible. In this book, they disclose details and examples I’ve never seen anywhere else, and I’ve read A LOT of books on investing.  For me, the interviews alone were worth the entire book.

Third, he solved the problem that I couldn’t. How do you write a book for both the novice and the sophisticated expert? How do you account for the differences in goals (e.g. growth versus security) without creating a mess of a book with no structure? He nailed it.

Fourth, and last for this blog post, this book isn’t just about “investing.” It’s about clear thinking and clear priorities applied to big things. By the time I’d read half of the book, I’d already taken steps that doubled my income for that month. While it wasn’t stocks or bonds, the principles of the book translated to my other business decisions. Obviously, you’re mileage will vary, but I found the flexible toolkit worth as much as the specific recommendations related to asset allocation, etc.

In the following interview, we dig into everything: Tony’s morning routines, his diet, how we works with the world’s highest-performing athletes and traders, common misconceptions about him, the most typical money mistakes he’s uncovered, and on and on.  I even ask him to palm my entire face (Here’s the pic!).

Enjoy!

Tons of links and goodies in show notes below…


If you can’t see the above embedded players, here are other ways to listen:

This podcast is brought to you by 99Designs, the world’s largest marketplace of graphic designers. Did you know I used 99Designs to rapid prototype the cover for The 4-Hour Body? Here are some of the impressive results.

Also, how would you like to join me and Sir Richard Branson on his private island for mentoring? It’s coming up soon, and it’s all-expenses-paid. Click here to learn more. It’s worth checking out.

QUESTION(S) OF THE DAY: What is the best piece of investment advice you ever received or read? Please let me know in the comments.

Scroll below for all show notes, and thank you for listening!… Read More

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What I Learned Losing a Million Dollars

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6153243027_8a5ed7bc0b - poker(Photo: Ariel H.)

“One of the rare noncharlatanic books in finance.”
– Nassim Nicholas Taleb, author of The Black Swan and Antifragile

“There is more to be learned from Jim Paul’s true story of failure than from a stack of books promising to reveal the secret formula for success…this compact volume is filled with a wealth of trading wisdom and insights.”
– Jack Schwager, author of Hedge Fund Market Wizards

The newest book in The Tim Ferriss Book Club (all five books here) is a fast read entitled What I Learned Losing a Million Dollars. It packs a wallop.

This book came into my life through N.N. Taleb, who has made several fortunes by exploiting the hubris of Wall Street. Given how vociferously he attacks most books on investing, it caught my attention that he openly praises this little book.

My first dinner with Nassim was in September of 2008. It was memorable for many reasons. We were introduced by the incredible Seth Roberts (may he rest in peace), and we sat down just as Lehman Brothers was collapsing, which Taleb had — in simple terms — brilliantly shorted. We proceeded to drinking nearly all of the Prosecco in the restaurant, while talking about life, business, and investing. Lehman Brothers would end up the largest bankruptcy filing in US history, involving $600+ billion in assets… Read More

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You'd Like to Be an Angel Investor? Here's How You Can Invest In My Deals…

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Most deals get done in informal settings. Now, I’m inviting you to join me. (Photo: Russell Yip)

 

Please note that my syndicate investing in Shyp has now closed. You can still back me on AngelList to gain priority access to future deals. More updates will be posted here later in the round.

 

On September 23, 2013 (that’s today), the world of startup financing changes forever. It’s a truly historic moment.

Previously, I couldn’t publicly share deals with you. Now, thanks to an unprecedented legal change, I can offer a portion of my start-up investments to any of you who qualify as “accredited investors.”

  • Previously, you had to be part of a small club to see such deals. Not any more.
  • Previously, you might even need to be in Silicon Valley, drinking wine and having coffees around the clock, to see good deals before they filled up. No longer.

Starting today, I’ll share some of my favorite deals with you, beginning with a start-up called Shyp.

Notable companies I’ve advised include Uber (pre-Series-A), Evernote, Automattic (WordPress.com), Shopify, and TaskRabbit, among others. Early investments include Twitter, Facebook, Reputation.com, etc.

In this case, I used a “Spearhead Capital” blog post to my ~1.4M monthly blog readers to find promising startups. Nearly 400 companies applied, many of which are producing millions in revenue. Out of all of them, and with the help of Naval Ravikant (CEO/co-founder of AngelList) to interview finalists, I chose Shyp.

Shyp is the fastest and easiest way to ship packages. More on that shortly.

Investing alongside me–and potentially you–in this round are:

  • David Marcus (President of PayPal)
  • Brian McClendon (Founder of Google Earth)
  • Daymond John (Founder of FUBU, Shark on ABC’s “Shark Tank”)
  • Joshua Schachter (Founder of Delicious, Tasty Labs)
  • Aaron Batalion (Co-founder of LivingSocial)
  • Homebrew (Hunter Walk and Satya Patel)
  • Naval Ravikant (CEO/co-founder of AngelList)
  • Scott Belsky (Founder and CEO of Behance)
  • Sherpa Ventures (Scott Stanford & Shervin Pishevar)
  • Antonio J. Gracias (Board Member at Tesla and SolarCity)
  • XG Ventures (Andrea Zurek and Pietro Dova)
  • Osama Bedier (Former head of Google Wallet)

…and more

So, how can you join us?

Before I tell you, remember:

  1.  Startups are speculative, and this is gambling. You shouldn’t invest anything you’re not comfortable kissing goodbye. Treat it as casino money.
  2.  If you are going to invest in startups despite this high risk, plan on building a portfolio of dozens, very slowly and carefully. This should be just one of many. Read more on approach here.

The Short Version

If you’d like to invest in Shyp, simply click here.  A description of the company is in “The Longer Version” below.

You’ll need to set up an AngelList profile (free), and the minimum investment is $2,500. We’re only able to accept $250,000 from everyone.

For more on the team and concept of Shyp, click here.

If you miss this one, not to worry–you can automatically join my deals in the future, which puts you first in line next time.

Can’t invest right now? No worries. If relevant, I’d love for your to consider any of the below actions. Shyp and I would really appreciate it!

- Apply to be a Shyp Hero (Heroes are Shyp’s drivers). Click here.

- Apply for a job on Shyp’s core team. Click here.

- Interview the co-founders of Shyp: Kevin, Josh, and Jack. They’re clever gents. Just email: founders at shyp dot com.

- Tell Shyp which city you live in so they can launch there before others!

The Longer Version

I’m putting my name and network behind Shyp and personally investing $25,000. I’ll also be providing oversight and advising the company on product/conversion optimization, national launch strategy, etc.

I’m using a new AngelList feature called “Syndicates” to share my $250,000 allocation of Shyp.

Unlike venture capitalists (VCs), I am charging zero management fees. If you don’t win, I don’t make a dime. If you invest alongside me, the only expense is a 20% “carry” (roughly 20% of the profits) if there’s a good outcome.

DESCRIPTION OF SHYP

Shyp is the fastest and easiest way to ship packages.

Through the Shyp iPhone app, you take a photo of what you want to send, specifying destination and pick-up time. You’re done.

A “Shyp Hero” (driver) arrives at your home or office at the specified time, takes your unpackaged item away to be packaged, then sends it on its way via the optimal carrier (i.e., Fedex, UPS, etc.). Shyp automatically optimizes for speed and cost, and Shyp charges no more than Post Office prices, plus a $5 pickup fee for sending solo items. If you send more than one item, the company waives the $5 pickup fee.

More on how this works below the video.

I have confidence in the team, and here’s why I love the model:

- Recurring revenue. It has a frequent use case, just like Uber and Evernote (again, both of which I’ve advised). Millions of people can use Shyp on a weekly or daily basis.

- It’s simple and solves a real problem. Do you enjoy going to the post office or UPS store? Scheduling pickups that require you to be available for 3-6 hours? Of course not. Shyp makes fixing all that as easy as snapping a picture. And they package everything for you. No more wasted afternoons.

- It has unusually high margins. Shyp matches USPS retail prices, but by taking a volume discount from carriers and utilizing regional couriers (that end-users cannot), Shyp can maintain high profit margins. Using OnTrac, as one example, is 75% cheaper than USPS.

- It’s tackling the “first mile” problem, not the “last mile” problem. Lots of companies are focused on same-day delivery from retailers to consumers: the last mile. It’s a crowded battlefield of a market. But what about the burden of packaging up shipments from homes and offices? This “first mile” problem is enormous, and the market is neglected. Shyp aims to own it.

How to Get In First

Would you like first access to my future deals, right alongside my close friends?

To see things before I post them on the blog, you can automatically back me on AngelList, as Naval (CEO of AngelList) and others are doing. Click here for more details. This will ensure you don’t miss anything.

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DISCLAIMERS — DON’T SKIP:
Startups make big plans a lot, and most don’t follow them. Shyp might run out of money; customers might not like using a third party to ship things; UPS, Fedex, or some upstart could start competing; or the team could simply fall apart tomorrow. Any statements about their future plans, margins, etc., are pure speculation on my part. That’s why startup investing is very risky, so again: don’t invest anything you aren’t prepared to write off 100%. Last but not least, I’m not necessarily planning on sending frequent updates or notices of Shyp’s change in plans (if any), as startups change on a weekly or daily basis.

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Exclusive Warren Buffett – A Few Lessons for Investors and Managers

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“This [drawing] looks good — as close as I’ve ever look to George Clooney.” – Warren Buffett. (Illustration credit: Monica Bevelin)

“It’s a funny thing about life; if you refuse to accept anything but the best, you very often get it.”
-W. Somerset Maugham
English dramatist & novelist (1874 – 1965)

I have long been a fan of Warren Buffett, who is widely considered the most successful investor of the 20th century. His net worth is currently estimated at $44 billion.

The fascination with his approach to value investing started with Buffett: The Making of An American Capitalist, which led me to devour all of Buffett’s incredibly readable annual letters to Berkshire Hathaway shareholders. My fervor culminated in early May of 2008, when I made the pilgrimage to Omaha, Nebraska to elevator pitch Buffett and Charlie Munger directly in front of 20,000+ people (See: “Picking Warren Buffett’s Brain: Notes from a Novice”).

Prompted by all the “Mr. Market” manic-depressive excitement about Facebook, tech, and the world at large, I’m thrilled to offer an exclusive excerpt from a new 81-page book: A Few Lessons for Investors and Managers from Warren E. Buffett.

In it, author Peter Bevelin distills hundreds of pages of annual reports and Berkshire’s An Owner’s Manual into bite-sized principles and key quotes. Of this lightweight handbook, Buffett himself says, “It sums up what Charlie and I have been saying over the years in annual reports and at annual meetings.”

Net proceeds from sales of A Few Lessons are donated to the California Institute of Technology in Pasadena, California. It can be bought at the publisher’s site, which is their preference, or it can be found on Amazon.

For this post, I’ve chosen one of my favorite chapters, which relates to Buffett’s criteria for investments (and acquisitions): Business Characteristics: The Great, the Good, and the Gruesome… Read More

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How to Create Your Own Real-World MBA – II

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Brainstorming in Boulder, CO with a class of founders from TechStars, where I’ve been a mentor. After this particular trip, I ended up advising Graphic.ly. (Photo: Andrew Hyde)

Disclaimer: nothing on this site is legal advice, and I am not an investing expert.

This post is continued from Part I.

Part I explained how, instead of getting an MBA, I invested the tuition dollars into angel investing. To recap, my current stats for the two-year “Tim Ferriss Fund” look like this:

15 or so total investments
0 deaths
2 successful “exits”, or sales (including my own company)

If we look at the value of my remaining start-ups on paper, based on subsequent funding and valuations, the portfolio is probably up well over 4x. This means nothing (remember Webvan?), but it’s fun to look at the spreadsheet.

This post will look at how I’ve found deals, how I filter deals, and the rules I’ve set for myself. The latter can teach broader business lessons, even if angel investing never enters your life… Read More

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How to Create Your Own Real-World MBA

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(Photo: DavidDMuir)

It’s fun to think about getting an MBA.

They’re attractive for many reasons: developing new business skills, developing a better business network, or — most often — taking what is effectively a two-year vacation that looks good on a resume.

In 2001, and again in 2004, I wanted to do all three things.

This post is the first of two that will share my experience with MBA programs and how I created my own… Read More

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The Psychology of Automation: Building a Bulletproof Personal-Finance System

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Actor faces

Too many choices. Using automation to reduce choices and dominate your money.

I have known Ramit Sethi for several years now, first through PBWiki, which he co-founded, and later as someone I turned to with questions about the world and workings of finance. In a world of gurus who promote one method of investing and then follow another, it was refreshing to talk with someone who was willing to share real numbers and case studies from their experiments.

Ramit and I have also able to share a bottle (OK, many bottles) of wine and laugh about the downstream effects of titles we’ve tested and chosen, as both of our book titles sound like scams to most people: The 4-Hour Workweek and I Will Teach You To Be Rich.

Despite this self-imposed handicap, Ramit’s blog and advice have been featured in media such as NPR, The New York Times, and Fortune magazine. I specifically asked him if I could excerpt a few of the diagrams and call scripts from his new book. He and I both share a love of templates that enable us (and others) to duplicate results without reinventing the wheel… Read More

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