Winter is coming… but when?
Tony and Peter Mallouk introduce their new book, Unshakeable, and explain what motivated them to write it
Like the predictability of cold winter storms that show up year after year, market corrections and crashes will continue to rear their ugly heads. We’ve all suffered losses, or know someone who has; maybe it was when the tech bubble burst in the late 1990s, when the stock market plunged in 2001, or when the housing market crashed in 2008. Those kinds of losses can shake you to your core. So just how does one achieve financial security and peace of mind in this new era of volatility?
In the first episode of The Unshakeable Podcast, the world’s leading life and business strategist Tony Robbins and his co-author Peter Mallouk (ranked #1 financial advisor by Barron’s for three years in a row) remove the anxiety of an upcoming economic winter. They discuss the facts and myths surrounding bear markets, why they make us so fearful, and how to not only prepare but even profit when the market dips — all of which are key concepts straight out of their new book, Unshakeable.
Written as your go-to financial freedom playbook, Unshakeable offers investors of all levels — from millennials to baby boomers — the knowledge, tools and techniques to become an unshakeable investor: to dispel any fears you have of bear markets, build a strong diversified portfolio and gain peace of mind amid economic uncertainty. Throughout The Unshakeable Podcast, a companion series to the book, Tony Robbins and Peter Mallouk sit down with Richard Bradley, Editor-in-Chief of Worth Magazine, to discuss core principles for unshakeable investing, and how you can apply them to reach your own financial goals.
In this episode of the Unshakeable Podcast, Tony and Peter dive into the 7 “Freedom Facts” that can open your door to financial freedom, and Tony explains why he was inspired to partner with Peter to write Unshakeable in the first place.
[0:36] Richard introduces himself, Tony Robbins and Peter Mallouk
[1:00] The idea of being unshakeable is clearly more than money, but in this context, what does it truly mean to be unshakeable?
[1:27] Unshakeable is: a bear market can come, a correction can come, and there’s no fear in you – or if there is a little fear, you don’t stay there
[1:43] Why the world we live in right now leads many people to believe they can’t even achieve financial freedom
[2:25] Alan Greenspan’s perspective on the volatility of today’s financial world
[3:00] The metaphor of the snake and the rope and how it applies to Unshakeable
[3:37] What Unshakeable is and what it can do for you
[3:51] We’re donating 100% of the profits to feed another 50 million people through Feeding America
[4:29] Tony explains why he chose to write Unshakeable
[6:22] Tony outlines the three main goals of the book Unshakeable: to act as a short playbook that anybody can easily read, to dispel the fear of market volatility, and to open the curtains to reveal the truths of hidden fees
[7:27] Warren Buffet’s approach to bear markets
[9:02] Tony tells the story of how he met Peter Mallouk, and why they decided to partner to write the book Unshakeable
[9:25] The major difference between fiduciaries and brokers
[10:35] Why Tony agreed to meet with Peter after receiving his call
[11:20] Tony explains why Peter’s firm, Creative Planning, offers people at the millionaire level personalized services that are usually only available to the ultra wealthy
[12:07] Why Tony and Peter decided to open another division of Creative Planning to offer these services to people with $100,000
[12:56] Peter explains his opinion of the book Money: Master the Game and its core message
[13:47] Peter explains why he decided to call Tony, to offer his expert financial insight, and how their initial meeting turned into a partnership
[14:55] Peter explains why it’s impossible to have lost money through the tech bubble, the crash of ‘08, if you were invested even halfway right, and didn’t make a mistake.
[15:18] Peter answers: Why did people lose money? Why are people shakeable? Why do they make these mistakes?
[16:28] Tony explains the reason he asked Peter to co-author Unshakeable with him
[16:55] The unbelievable results Peter and his firm saw during the crash of 2008, why they thrived during one of the worst economic times
[17:31] Knowledge is not power — knowledge is information. It’s potential power. What’s real power is execution.
[17:59] Peter discusses his contributions to the book why constantly trading is a mistake, and the “buy and hold” mindset is also a mistake, and the mindset you can use to get ahead
[19:05] Tony and Peter answer why they chose to launch this podcast at the same time as the book, instead of waiting
[20:02] Tony and Peter’s seven “freedom facts”
[20:24] Freedom Fact #1 – Winter comes every year
[21:14] What happened beginning of 2016
[22:16] Why people often panic and sell during a bear market, or correction
[24:30] The difference between a correction and a bear market
[25:19] Freedom Fact #2 — less than 20% of corrections ever grow into a bear market
[25:29] Freedom Fact #3 — no one can predict the market
[25:33] Peter explains the problem with financial advisors promising people they can predict the market in any way
[27:24] Why some people seem to predict the market correctly
[27:58 ] Why the greatest financial investors of all time are not market timers
[28:44] Freedom Fact #4 — despite short term setbacks, historically the stock market rises over time
[29:35] The myth that the market goes up and down — not true
[29:45] The comparison between the stock market and inflation
[30:22] Freedom Fact #5 — bear markets only happen every 3-5 years
[30:32] What Jack Bogle, founder of Vanguard, says he does during a bear market
[30:01] The average drop during a bear market, and why our brains work against us during a bear market
[31:58] How long a bear market lasts, on average
[32:28] Tony explains why, historically, US markets continue to grow
[33:21] Why a bear market is your chance to leap from where you are to where you want to be
[34:06] Freedom Fact #6 — bear markets become bull markets
[34:27] Peter explains the nature of bear markets, and the two things that make them particularly challenging for investors
[35:30] Peter explains why the economy/capitalism is not as fragile as we often think
[35:57] Peter gives an example of how the “worst investor in the world” would have fared
[36:38] Freedom Fact #7 — the greatest danger is being out of the market
[36:58] The fact that will blow your mind, from two studies by JP Morgan and Schwab
[37:34] Peter explains one of the biggest misconceptions about waiting to get into the market
[38:36] Why the incentives brokers work with have nothing to do with your best interests
[39:24] What you should look for in your financial advisor fees
[39:47] What would happen if you missed the top 20, or even top 30 trading days of the market
[40:12] Statistics about the best and worst trading days of the market, historically
[40:50] Tony discusses why Millennials and Baby Boomers should both be getting in the market as soon as possible, and what’s holding them back
[41:43] The biggest decision you’ll make about your finances.
[42:14] Tony explains the questions to ask an advisor, to ensure they’re truly on your side
[42:28] 60% of people surveyed today say they believe their financial advisor is putting the company interests above their own — it’s actually worse than they believe
[42:45] Why Tony has chosen to support Peter and his firm, Creative Planning
[43:33] How you can get a second opinion from Peter’s firm, Creative Planning, through their website (www.GetASecondOpinion.com) — it doesn’t matter how much or little you have, they’ll give you feedback
[44:00] Tony’s biggest challenge when writing his first book, and how it brought him to Peter Mallouk
[44:30] Peter explains the process Creative Planning went through to open their services to people at the $100,000 level, and how offering this extensive range of services to people at this level is unprecedented
Legal Disclosure: Tony Robbins is a board member and Chief of Investor Psychology at Creative Planning, Inc., an SEC Registered Investment Advisor (RIA) with wealth managers serving all 50 states. Mr. Robbins receives compensation for serving in this capacity based on increased business derived by Creative Planning from his services. Accordingly, Mr. Robbins has a financial incentive to refer investors to Creative Planning.