Hearing through the Noise

ABOUT THIS EPISODE

There has been a lot of noise, information etc regarding innovation how does that relate to how we look at investments today? We hear about bitcoin, self driving cars – billionaires in space – what does it all mean for people who are not yet billionaires? You need someone who can be a "filter" to clean up the noise that you're hearing every day. Listen to John's 4 Filters that can help you Build a Life Not Just a Portfolio.  

Welcome to the build your life podcast with John Browning. Build your life as a relaxed and unedited conversation with financial expert in number one Amazon bestselling author, John Browning Jones the founder of Guardian rock wealth and serves clients across the United States. John's the author of the book build a life, not a portfolio, a guide to your financial future based on your personal values, which you can purchase on Amazon, or stay around to the end of today's show and I'll tell you how to get a free copy mailed right to your door. I'm Michael The lawn, your host for the next few minutes as we chat with financial expert and business owner John Browning. We hello, John Browning, welcome to another wonderful, fascinating, stupendous episode of Your podcast. How are you today, sir, wow, I didn't even know. Is that good? Really is? It's top of the charts for me, Dude. Eh, Hey, John, I'm doing really well. I'm I'm glad to hear that. Hey, you're there's I know you. We do a lot of zooms with clients and you do zooms and podcasts and there's background noise. You know, a lot of us are working from home now and we forget about the background noise of air conditioning units or fans or thanks. So there's this really cool plug in from a company called Crisp. KRISP DOT AI plugs in. It reduces the background noise. It's putting on sound deadening headphones right, right, yes, and it really works. My son put it on his computer and I was like wow, that's crazy. So, anyway, tip bit of information for you if you didn't know about crisp that Ai, that that helps you, as I say, hear through the noise. Right, but we don't want to talk about that today. We want to talk about the noise factor that's out in the market place now, in the media and everything. There's really just a bunch of noise going on and in a lot of different areas, and it gets confusing. It gets really hard to understand...

...and to hear from somebody like you. So can you talk to us about some of the noise that's going on out there and how do we how do we hear through the noise? Yeah, it's a really as it's a timely topic. It's you always have noise out there in the market and especially with the advent of Youtube, and you know you do. You always have see and see and all that, all those good people. By the way, here's the thing. You ever listen to C MBC? Rarely, but a little bit, but not much. So there's a gentleman on there. There's a couple people that I know. I've actually I've actually been on their show or know them from somewhere in the industry and all that. So I can tell you that folks like Jim Kramer and the Nigerian brothers are another fun one to listen to. Jeff Kilberg also agree a guy to listen to. Here's the thing, though, they don't know you. HMM. And while they're great people and they would care about you, I'm sure if you, if you got to know them a little bit, they really don't care. That's right. They do care about their ratings, Yep, and and all of that, but is their information that they're giving really good investment advice for you? They will tell you, if you ask them, they are not giving investment advice, just like I'm not giving it. Doesn't right now, but you can do it. Yeah, yeah, that's true, but but is it? You make it? You make a good point there, because we listen to those programs and those big stars, right, and whether they're talking about, you know, things like bitcoins are the new self driving cars are? I rented one of those the other day, by the way. It is really weird. Well, it had that feature on it. It wasn't self driving, but it had the self driving. It was really weird. Or SPACEX and going into space and all that that. It distracts us. But people could. You could hear people talking about that one to go invest...

...in that, but without a personal relationship, without your your advisor understanding who you are and what you're really trying to accomplish, the life you're trying to build. As you would say, it's noise. Right, yeah, it really is. And you know, it would be easy to, you know, just, you know, buy everything that they that they suggest. Right, yeah, you know what is the right thing for you, what fits your risk parameters, what's really happening and really working as opposed to what's really cool. Is Right? Yes, yeah, very much so, because you're right, those those people on those programs are interested in ratings and they're going to talk about things that are hot and tantalizing and sizzling and cool. But you shouldn't really take their advice. You need it. You need to work with somebody like you, a guardian rock wealth, who who understand your situation, who understands what all's going on, because one wrong move right and you can, you can really damage your your portfolio, in your and your life that you're trying to build using the tool that we call money and a portfolio. Yes, yeah, and that's what I mean. That's one of the cool things about you and Guardian rock wealth is you help people build a life, not just the portfolio, because I talked to so many people who are are working at hard, they're saving a lot for retire meant and they're really not living the life because in they expect retirement to be twenty, thirty, forty, fifty years. And what happens? Unfortunately, sometimes they retire in a year later, they die and they haven't built a life. And that's what I love about what you guys do, a Guardian rock wealth, is you're focused on both, but it really is building in enjoying your life as you build your portfolio and let that portfolio help you today, help your kids in college help you in return. It's all possible when you have a plan and somebody who actually understands what who you are and what you're trying to accomplish.

That's right, that's right, and it's you know, I don't know if you remember the old fashioned match right that we used to unfold. They were like those because, you know, yes, excu right, yea, yeah, you didn't. You know, you talk about, you know, not texting and driving. One of the things you really did drop on you was was trying read that map and drive it and drive at the same time. How do we never going to pull the back up right? You throw them in the backseat. Yeah, Oh goodness, but oh yes, but those things to write. It was if you didn't plan things out before you got on the road, even if you had a map, you're in trouble because you had to know already where on that map. And there's a lot of noise going on on that map. There's a lot of different roads. Is kind of amazing. They fit all those roads on that road map. And again today in particular, there's a lot of innovation and everybody that has listened to me for any length of time knows I'm a big fan of investing towards where the where the market is going, not necessarily where it's been or where it is right now. Yep, and you know, I can talk just a little bit about, you know, sitting through some of that noise and some of the things I've learned about investing for innovation. But when you invest that way, there's a lot of noise. So all right, let let me just pause there, because just like when we started today's episode, we talked about Crisp, not AI. It's a filter for noise. So you are, in a since, a filter for your clients for all the noise that is out there, and we all need a filter to help us understand the noise factor. Yeah, and that's right. That's that's a good way to put as good analogy. And and if you're looking for you know, if you're asking sort of what your will, what are the things that I use to filter out the noise. I can give people for things I people for things that Canda. This is what because it as I've gone through...

...thirty years of doing this, I've learned a couple things, one or two things, about how to filter through the noise, because I started my career in nineteen ninety one, Hey, and nineteen ninety one. If you remember, was the very first year that you could legally use the Internet as a normal American citizen. Day that again. Say That again. I knew I would get a reaction a little bit about what are you serious? Yeah, it's true. Say That again. In nineteen ninety one, it was the first year that you could legally use the worldwide web, the Internet, as an individual person in the United States. Really Tidbit of a friend did not know that. And think of think of where we are today. Last now say yeah, but that's kind of you know, that sort of what I have seen. And then you look back in history at everything that's happened. You know, in the roaring s you had the model t, you had the radio, you had insulin. Those were the things and that transpired into what we now know as the roaring S, which started out, by the way, as as a depression. Yeah, and from there, you know, we saw all the innovations that came out of that. And then you had the personal computer in the Internet, and you saw the innovations from that, but a lot of them, number one, took many, many years, decades to develop into something profitable, and the same thing happens today. You know, we here and that's why people don't necessarily sort of believe and innovation, because we were all the you know, when when I was a kid, it was like we're going to see flying cars by two thousand and twenty when still haven't seen that, right, but we are seeing self driving cars. Yeah, and will they win? Will those be profitable? And what's driving that? And that really comes down the artificial intelligence driving almost everything.

But we were watching was it did Tracy back with is his phone on his wrist, and we are seeing that. So we yeah, it's a matter of seeing the noise in the direction and what's happening in those aren't you know, you talked about it takes a long time to monetize things right. I remember when Amazon first started and I remember for the first five or six years they lost millions of dollars a month, a month, because I was in Acom company that time, and it's like, how are they surviving? What is their business model? Well, I don't think they're losing millions of dollars a month anymore. It took them a long time to monetize it right, but it was that trend. But it's it takes somebody like you to look at something to go. Oh, I remember Google first started and they had other search engines like you know, dogpile, and I mean they're all there are three or four five competitors out there. Google dominated, they beat everybody else and then they monetized it. Right, I think they monetized it. Are they making any money? Oh, yeah, it's they are. Yeah, so any but it's understanding, knowing your filters. You said you had for filters. Is that what you said? Was the first one is understand that innovation takes a very long time to develop and actually be profitable. So what you hear about the news name not be the thing that's going to be profitable right now and even in the next five, even ten years. So that's the number one filter. Understand that. Understand the progression of innovation. Generally. There's a lot of hype and that kind of starts at, you know, say halfway up the chart, and then you have actually at the climb in interest and then they call it the j curve and then you start getting adoption, then rapid adoption and you kind of go up the graph. So you have to be willing, and this is still part of the first filter. Got To be willing to forego some of those amazing first returns...

...because there's just, frankly, no really great way to determine which of the thousands of innovations is really going to be the one. Now we have some pretty good ideas about what some of them could be, but which, which guy wins? We have which company actually wins. So you got to be willing to forego some of those amazing thousands of Perc every turn in order to really make a good profit without going through a terrible time of volatility to the downside possibly losing, you know, all of your investment. That type of thing, again, not investment advice, but right the second the second filter on that is that there's always new innovation. I think as long as we are a free country, and we are at this point, the United States is going to be the center of a lot of that innovation. Yeah, and with each new innovation that spawns even more innovation. So don't worry so much about missing, quote, missing out on a particular innovation. There's always more coming. So filter out a lot of the ones that say they're going to be the next big thing and realize that there's more to come. And number three, filter is understanding. Not all innovation is profitable. You can have the coolest thing in the world. I saw the other day. I watch all the trends and all the cool stuff coming out and there's a there's actually remember the speeder bikes from Star Wars? Yeah, you remember those? One exists now. If you would like one, you can go buy one. Well, yeah, I mean hundreds of thousands of dollars on eat. Yeah, I don't even know. And, by the way, we're a helmet. Yeah, it's yeah, I just remember that. A Walk going...

...right into the tree. Are Right into the tree, right. Yeah, that actually hurts. Right, so it's so that's the other thing. is realized that even though it's cool and it's amazing and it sounds really neat, it might not be profitable. So you've got to filter out what is likely to really be profitable and number for not all profitable innovation is all that interesting. So some of the things that we like are, you know, there's they have come up with a new, better way, and this happened a few years ago actually, and we've been investing in companies that use and make and supply things that go into this. But faster drying, more durable cement. That's not for it. That is a hard thing to get my head around. Ha, it's did there. Yeah, so, yeah, but it's but you who uses cement, and once he use was used in building buildings, building roads and all sorts of things. And as we look at the infrastructure bill, how how viable is something like that to get things do better? And even things like with artificial intelligence, there are companies out there who are very experienced, very very innovative at things like gathering all the data and making like the ventilation in buildings more efficient safer, in that the air can be cleaner because of all the data that they're getting. That is boring, Yep, but it's highly profitable, it is. So those are the things that we think about and we realize that if you are an amazing lawyer and amazing plumber and amazing teacher, amazing at whatever it is that you do, there's not enough hours in the day for you to do that. Nerdy...

...folks like myself and our team love to look at that kind of stuff and figure that. Well, it's important because I don't think you'll ever here on CNBC, hey, at the top of the our world, talk about quick drying cement and how it's the wave of the future. I don't think you're only here, I mean really, so you need somebody like you, John, a nerd who can think you're all this stuff out and go, oh, by the way, we're going to go here or we recommend you go here because of this, this and that, because you know your client. And right, that really is the secret. If there's one big takeaway between of hearing through the noise, it's having an advisor who knows you, knows your family, knows what you're trying to do and knows the life you're trying to build. And that's what you do at Guardian rock wealth. Already we do, and sometimes our portfolios would really, really bored. But yeah, the returns on those portfolios probably look a lot nicer right, because it's real core. It's playing, if playing to the strengths of your client and and that's why I always recommend people just reach out to your Guardian Rock wellcom scheduled call with John is zoom call, a phone call, send him an email or even old fashioned, you could put a letter in the mail, because it's address is on the website, but a stamp on it. But just connect with him, have that first conversation, see how he can help you build a life, not just a portfolio. John, this is this has been very fun. I love the filters and I love thinking about the noise that's out there. And how do you break through that noise? By having somebody like you helping me build a life, not just a portfolio. So great job once again. Always Fun to be with you. Will look forward to talking on the next episode of Your podcast. Sir. All right, we'll see you next week. Money really is a big part of our lives and John Browning can help you and your family learn how to keep money in the proper perspective. It's important, but it's only a tool that can help you build the life that you want. If you like John Emil, you a free copy of his book build a life, not a portfolio. Go to John's website, Guardian Rock wealthcom, and click the contact to US link...

...and send your request. John Will Mell a copy of his book right to your door absolutely free. Thanks for listening to building your life podcast with John Browning. Be Sure to subscribe to this podcast so each new episode will be sent to you automagically when it's released. Have a terrific day. Nothing in this podcast should be construed as personal investment advice and past performance is no guarantee of future results. Investing is not appropriate for everyone. There is a risk of loss associated with investing in the markets. No representation or implication is being made that using any methodology or system will generate profits or insure freedom from losses. Please remember that investing carries risk. Guardian Rock Wealth LLC and it's affiliates are fiduciary investment advisors. Please consult with US or another experienced qualified investment advisor before making any investment decisions and or trying to implement any of the strategies and tactics we may discuss in any of our publications or podcasts.

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