YouSaid · the spoken record

David Fagan

lines on the record: 55
first: 2025-08-03
most recent: 2025-08-03
sittings or episodes: 1
sources: podcast

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“And find those 4%. Why wouldn't I do that? Apparently, that's where all the returns are. And so I think I want to throw over to you here, David. What advantages and disadvantages do you think that we as small business owners perhaps have in investing in public markets?”
2025-08-03 · We Study Billionaires · TIP742: Invest like a Business Owner w/ David Fagan · IDENTIFIED FROM THE TRANSCRIPT
“And then if I turn the table and then I look at people, whether it used to be, in my case, in so many other business owners, they often start as employees collecting a salary. And many tend to invest in index funds. And I don't think, I don't want to make it as simplistic as saying, oh, if you're a businessman and a business owner, you have a more concentrated portfolio. If you collect the salaries or you do things fund, I know there's a lot of things in between, so please don't get me wrong. But I think one observation is this famous best and buyer study that talks about how returns primarily come from 4% of stocks, which is just incredible, right? So many people would interpret that and then would say, that is so difficult to find those 4%. So why not just buy an index? And then perhaps business owners who have been successful, they also know how difficult it is to start up their own business. And that had gone well. So they're thinking, well, then my job is to go on.”
2025-08-03 · We Study Billionaires · TIP742: Invest like a Business Owner w/ David Fagan · IDENTIFIED FROM THE TRANSCRIPT
“That a lot of people look at business owners and they say, oh, that sounds risky. And then being on the other side of the table, I would say that knowing a lot of entrepreneurs, they do everything they can to minimize risk. And I think a lot of people would argue they probably take less risk by owning their own business. Also because a lot of business, especially in the beginning before the business has been spinning off cash, you can sort of argue that you have 90 plus, 99% of your net worth in one asset. So I think that there's probably an element of a lot of business owners they are quite comfortable about having a concentrated portfolio because if they have 10 stocks, they're like, oh my God, that's amazing. I used to have one asset. Now I have 10. Like I'm so diversified. Also add to that, I would say that as business owners, we also don't get a quote on our business. And we used to see the volatility of business probably from the inside a little bit differently.”
2025-08-03 · We Study Billionaires · TIP742: Invest like a Business Owner w/ David Fagan · IDENTIFIED FROM THE TRANSCRIPT
“One thing I very much appreciate about our community is that there's a lot of business owners in the community and I really hope this doesn't come across as if you don't own your own business. You're not a good investor or anything like that. That's the very opposite. But I think I want to mention is that there's a lot of investing pundits out there and most often haven't run their own business. And I would argue that once you have the opportunity to do that, you might see investing a little bit differently. And then at the same time, because I know there are a lot of business people out there who run their own business in the audience, you probably also need to unlearn a thing or two if you run your own business and you're like, oh my God, I'm good at this. I need to, I'll be good at investing because Buffett says that investing is best business like. And then you realize that perhaps your skill set isn't that great because you have other disadvantages. So anyways, if you observations I wanted to make here before I throw it over to you. I think that I've”
2025-08-03 · We Study Billionaires · TIP742: Invest like a Business Owner w/ David Fagan · IDENTIFIED FROM THE TRANSCRIPT
“You're bad, and let's just dive right into the first segment here because David here on the show, as you know, we discuss and interact with a lot of investors. And in this episode, we want to turn the tables and focus on investing. But from the perspective of being a businessman or businesswoman, and I can't help myself, but say the Buffett's family is sad. I'm a better businessman because I'm an investor and I'm a better investor because I'm a businessman. And so that is our first segment here. And, you know, I like to think that we use the same part of the brain whenever it comes to investing and whenever it comes to business, which generally is to our advantage as businessmen, but probably sometimes not. We're going to talk a bit more about that. And we have a lot of these conversations here in our mastermind community. And I kind of felt we should open it up here to the entire TIP community because”
2025-08-03 · We Study Billionaires · TIP742: Invest like a Business Owner w/ David Fagan · IDENTIFIED FROM THE TRANSCRIPT