In this video i'll show you 10 investing rules to live by and navigate this insane market. Let's do this right before you get drafted, you get a million dollars for an endorsement deal and i spend it in one day. A couple days later i got a call from the bank, so as i was reading it, i was 80 000 in the hole and i was looking. I was real embarrassed.

Then he touched my hand and said son. I don't want you to be like all these. Other athletes - i said you know what i got to get a financial advisor, so a lot of guys came in. They say you're going to get 40 million on your first contract.

You give me the 40 million, i can turn into 200 million, and then i met one little small, beautiful jewish man who says i'm in the savings bonds. You know we're going to put your money and you know we're going to start a sub chapter s corporation from your family, so you know all the stuff that you're doing you can write it off. I was like you know what shalom hey. My name is tom nash.

Thank you for staying with me, i used to be a senior financial analyst. Now i'm a 100 youtuber and in this video i'll show you 10 rules. I absolutely live by now. Does this make me the most successful trader of all times? No, i'm not even a trader, i'm a long-term investor, but having said that, these are my rules.

This is how i conduct my own business and, if you're interested in hearing my system here we go so first, don't let anyone tell you how to manage your money? How to invest your money and how to trade? Your money, you can learn methods, but your money is your decision and it's like kind of being like the president right. You have to listen to every single advisor. You have to respect them, but the end of the day. The decision to press the button is yours, because you you're gon na face the consequences.

So it's okay to educate yourself, but make sure you don't let other people take the decisions for you and that's a good segue to rule number two. If you feel like you need help whether it's because you don't know enough, because you're too emotional a lot of different reasons, you can actually hire a professional person to manage your funds for you now. You can do it temporarily. You can do it permanently, but if you do that make sure you align yourself with the most conservative boring ass, looking accountant style nerd, not a smooth sailing salesman.

That's the worst thing you can do, there's an interview with jack just a few years ago, shaquille o'neal. He used to be an amazing player for the nba and he talks about how his first year he had to hire somebody to manage his money and how this guy promised him that this guy promised him that and then all of a sudden he met this boring Little jewish guy, who told him hey, we'll put it in bonds, we'll put in atf's you'll, make like five percent a year, and that was the guy. Now shaq definitely knows about managing his own money. Trust me, the dude is very, very savvy.

You better! Listen to his advice, it's not me saying it's shaq and that's a good segue to rule number three. I just talked about shaq, but let's talk about organized sports in general right you have to plan, you have to execute. You have to stay disciplined at all times. No matter how good or bad things are going, whether your team is up by 30 points in basketball or it's down 20 points.

You have to do what the coach says and stay with the system. You don't lose your cool and you don't go crazy. Trying to save everybody by shooting 15 threes right, you do what the system says you do what the discipline says like, for example, if you're the player and you're going for every steal, you're gon na get our position and you're gon na annihilate it in defense. Right, so you have to play the passing lanes.

You have to play the pain you have to stay disciplined, no matter what the score is showing now. Imagine that now you're also the coach, because in your system, you're the player you're, the coach, you're, everybody you're, the gm and imagine your coach is basically losing your school. Like bobby knight, you remember the old coach from the indiana hoosiers breaking his stuff and basically screaming and yelling. If you do that, everybody becomes nervous, i much prefer larry bird's style as a coach, and although he wasn't the best coach in the indiana pacers history, people still remember how he was so stoic and showed no emotions as a coach.

No matter what happened you have to be the same and for rule number four we got ta talk, relationships and dating. I know i know tom nash isn't a dating coach, but hey, listen to me here, i'm sure you had a bad relationship in your life. You know whenever we're human beings, it's tough for us to find compatible other human beings. It's hard, it's harder than investing right.

So whenever you get stuck in a bad relationship, you can't stay just to force it and shoehorn yourself into a horrible relationship. You got ta, go it's just life right, you find a better one. Now, if things change with respect to the stock that you actually was in love with, and you should no longer be in love with it, then you got to get out if your girlfriend is cheating get out right, for example, zoom a stock i was gaga about, And kathy would, by the way, still is gaga, but i don't like it anymore. Why? Because things change, microsoft, teams came in and completely annihilated, zoom in the b2b business to business.

Section: it's gone, i don't like it anymore. They don't have the same time they had when i was looking at it before another example. Airlines right we're going into recession into higher inflation, which means lower margins, lower price action. Lower pricing power is not good for your business.

Airlines are notorious for low margins. Low pricing power, not a good business, to be in during a recession, slash inflation now rule number five, i'm sure you heard in some sort of configuration before it's called the shoe shine example: the old lady in the grocery store the stripper the club. There's many many examples: when people who should not be giving you stock advice are giving you stock advice about how great certain things are. Well, it's a good time to get out now.

I had the same thing happen to me just a few years ago, when crypto was at 18 000 before the crash, an old lady who used to kind of manage the logistics and administration their office came into the kitchenette talking to me about how she just bought The crypto, the first ever crypto she ever bought for 17 000, how she's gon na make millions. At that moment, i knew things are and again a few weeks later, crypto went to all the way down to two three thousand dollars. Don't really remember now, i'm not a crypto guy. In that sense, i wasn't back then, but i knew this wasn't the time to get bullish on that when everybody's talking about how great cryptocurrency is the real ogs actually waited, they bought it three thousand dollars and they wrote it all the way up to 60.

and The more of the story is quite simple: when people who have no business talking to you about stocks, their portfolio, real estate, investments start preaching to you about how great their investment is. Well, it's a time to kind of reconsider how fast you can get the out of there now look. Sex is the rule. You absolutely have to know.

There will be pullbacks in the market, there will be crashes. Those are opportunities, if you know the company in hand, if you did the research, if you know the fundamentals, but you need patience now, if you found a company that you absolutely love the fundamentals and the stock price does not match. Basically a great company shitty price. It's a good opportunity, but don't blow your load at once, make sure you slowly dca into it going all in ham.

Balls deep, is not a good strategy. Slowly build your position and before we move on to the next rule, a quick message from our sponsor today. Ftx us ftx us is a u.s, regulated crypto exchange and is one of the largest exchanges in the world unless you've been living under rock, you probably heard their name in the past few weeks. Steph curry, for example, is one of their brand ambassadors and an investor, and once you download their app you'll, have access to zero fee trading on cryptocurrencies and shortly stocks in one single interface.

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If you use my link below and the code name tom nash one world to get the benefit now, let's get back to the rules. Now, let's talk about fomo fomo is a cousin of a pyramid scheme and the uncle of multi-level marketing. It's a bad idea. Don't let yourself get fomo get emotionally fear of missing out into a trade, make sure you do actual analysis, actual decisions based on fundamentals, not on emotions.

By the time you heard about a hype stock, the hype has already taken its toll. Don't forget you're the sucker in the room, if you don't know who the sucker is number eight except you lost, i'm not saying that to actually get you to lose. I'm saying that you know. If you get into a fight, you know who usually wins, not the guy who's stronger.

Well, sometimes they do, but for the most part, the guy who's crazier, the guys who's willing to die willing to give it at all. You have to understand that if you're going to the stock market accept the fact that the money is gone and if you make any money out of it, that's going to be a bonus, but you have to be with the mentality. This is lost money and again i'm not saying that you should intentionally be careless with your money and blow it up the wazoo just because you lost i'm saying mentally, don't stress out over it once you put it in the stock market. Forget about it! Let it do its thing number nine.

You know how litigation is supposed to bring out the truth when two parties are basically advocating against each other, trying to figure out the maximum amount of truth and both are doing the max efforts for the client one for the da's office, one for the defendant right. The truth will come out as long as both parties do their best the same thing in the stock market. You have to attack your theory, you have to talk to doubters, you have to talk to skeptics. You have to make yourself available for criticisms and make your theory your bold case be tested, don't stay in echo.

Chambers last rule don't be afraid to take profits. My guy i mean, if you're up on the stock and yes, i know the market is kind of shitty right now, but the market will get better and eventually you will be up on certain stocks if you're up on the stock don't be afraid to make profits. I mean you're not married to every single stock in your portfolio. Now, for sure there are stocks, you should never sell if you absolutely are in love with them.

For example, for me, it's palantir in tesla unless something changes fundamentally about the stock, but i'm sure there's other stock in your portfolio on which, if you made 20 30 40, and at some point you will you should consider getting out. This is not a catholic marriage. Chill now, as always, a huge thanks to ftx us for sponsoring this video. Thank you for the channel members.

Thank you for the patreons. The link will be below five bucks a month you want to join. The link to get ftxs is also below use. The call name, tom nash, thank you.

So much see you next video, you.