S3E24 – Josh Dudick – How to consistently beat the market by over 6% per year

Key Timecodes

• (01:01) – Show intro and background history
• (01:49) – Deeper into his background and career path
• (02:25) – Understanding his investment strategy
• (04:23) – His trading strategies
• (07:23) – Understanding his personal investing strategy
• (10:54) – His real estate strategy
• (14:18) – Understanding his business model and the Top Dollar Company
• (19:29) – His thoughts and perspectives about the market
• (23:32) – One key takeaway from the guest
• (27:47) – What is the worst advice he ever received
• (28:02) – What is the best advice he ever received
• (30:22) – Guest contacts

Transcription

[00:00:03.880] – Intro

Hey, this is Sean Tepper, the host of Payback Time, an approachable and transparent podcast on business investing in finance. I like to bring on guests to hear authentic stories while giving you actionable takeaways you can use today. Let’s go. My next guest has over 15 years experience as an investor and trader. He worked at companies including Citibank, Chicago Trading Company, and Flow Traders. He eventually went on to start his own investment fund that outperformed the market by 6 % since inception in 2019. Today, while he continues to build his fund, he also started a money blog, top dollar investor. Com, which helps beginner investors become more educated on money, investing, passive income, credit cards, real estate, and more. In this episode, we talk about his journey, what he invests in, and what we can expect to happen in the stock market over the next 12 months. Please welcome Josh Dudick.

[00:01:01.280] – Sean

Josh, welcome to the show.

[00:01:03.030] – Josh

Great to be here, Sean. Thanks for having.

[00:01:04.370] – Sean

Me today. Yeah, thanks for joining me. So why don’t you kick us off and tell us about your background?

[00:01:08.740] – Josh

Sure. So my name is Josh Dudik. I’m the founder and CEO of top dollar investor. Com, which is a website focused on financial literacy, investment ideas, and strategies. My background is I spent over 15 years on Wall Street working in portfolio trading, wealth management, investing, where I basically learned how to use sophisticated investing and trading strategies to make outsized returns. And in 2019, I left Wall Street officially and started my own fund where I now manage my own strategies, my own investment portfolio. And now I’m working on this new side hustle to try to teach some of what I’ve learned and what’s been successful to others.

[00:01:49.490] – Sean

Nice. So it’s going on about four years you’ve had your own wealth management firm?

[00:01:54.950] – Josh

Correct. It’s more of a prop family office. So I’m not taking any outside investment, but yes.

[00:02:00.880] – Sean

Got you. Okay. And I assume you’re operating this as a straight up AUM. There is not any commissions involved?

[00:02:07.870] – Josh

That’s correct.

[00:02:08.970] – Sean

Right. In other words, the listeners out there just taking a fee for the services. You’re not like a hedge fund where you a two and twenty two % fee and then 20 % commission. None of that.

[00:02:20.060] – Josh

Correct. No percentage of profits at this time.

[00:02:22.290] – Sean

Got it. Okay, so you’re running this fund. And why don’t you tell us a little bit about your investment strategy? Because I was looking on your site and your results are you’re beating the S&P 500 by about 6 % per year. Is that correct?

[00:02:38.060] – Josh

That is correct. So just to be fair, a lot of that is from more active trading than just straight passive investing. My strategies have a baseline level of I would say about 75 % of it is passive index investing, and we could talk more about that. And then I have different strategies and ways to optimize returns on top of that using a bit more sophisticated strategies.

[00:03:02.070] – Sean

Got it. Well, let’s break both of those down. Let’s start with the index side. What do you really focus on there?

[00:03:07.680] – Josh

So on the index side, I’m a big believer in passive index investing. And like a lot of investors out there, I really enjoy low cost ETFs. So I’m sure most of your audience is a bit familiar with exchange traded funds. And I focus mostly on the most liquid funds and the lowest cost because obviously that’s how we could make sure we’re saving on general investments.

[00:03:30.900] – Sean

Got it. And with these funds, are you focusing on maybe US ETFs or do you also gravitate towards global? Are they sector focused, like tech or finance?

[00:03:43.000] – Josh

Sure. So I look at things a little more macro. I don’t necessarily dig too much into a sector base, but I do believe in allocat ing the portfolio over various different asset classes. And then based on performance in different asset classes such as stocks, bonds, REITs, commodities, and I basically have it broken down to, let’s call it about six or seven buckets. And I will reallocate slightly, basically like the way that a lot of investors would rebalance a portfolio. I’m basically rebalancing, but as opposed to moving from a stock to stock, I move from fund to fund based on how different asset classes are over or underperforming.

[00:04:22.230] – Sean

Got it. And so that’s about 70 %. The 30 % you said you’re focused on trading or some more active strategy. Can you talk about that a little bit?

[00:04:32.640] – Josh

Sure. It’s a bit complex, but the general idea is I utilize what we call arbitrage. So I look for mispricings in the market and there’s a lot of different types of arbitrages out there. I focus on ETF arbitrage. That’s what my background is in. So ETFs are comprised of huge baskets of stocks. And sometimes there actually could be small discrepancies between the fair valuation, what we call net asset value, and what the actual stocks are trading at. So in my general investment, I sometimes make choices on which ETFs I go in or out of. And sometimes I could pick up certain ETFs or different funds for possibly 0.1 % under fair value or 0.2 % under fair value. And because of that, I’m actually able to enter and exit when I’m looking to do so on my rebalances. It’s slightly more favorable or less favorable moments than what’s fair, let’s say, in the market.

[00:05:28.560] – Sean

We’re big on investing here at Tykr. We do our homework upfront. We use the Tykr platform to find good stocks and, of course, stay away from bad stocks. But trading, I found, and I loved your feedback on this comment, we found it to be a lot of noise. In other words, is the juice really worth the squeeze? Because statistically, most people are traders. They don’t even beat the market, nor do they even make a profit. So is the effort you’re doing on the active side, I have to ask, is this really moving the needle?

[00:05:57.360] – Josh

I think it depends on who the individual is. As you brought up earlier, my returns are overperforming the markets by about 6 %. So if we look at how long it takes your money to double, and we say that the historical returns in the S&P 500 have been 12 % over the last 100 years, and you can move those returns up to 17 % or 18 %, you could double your money potentially in a lot less time. Obviously, outsized returns are preferable. Is it obtainable for the average investor? Probably not. It does require a high level of expertise. And this is something that I’ve been working on and learning over 15 years. So it’s not dabbling in swing trading or taking speculative positions. Again, this is a way to look at a portfolio holistically as an investor. And as an investor, we do certain tactics like tax loss t harvesting, like portfolio rebalancing. These are things that are considered safe, savvy, intelligent moves that most financial advisors and brokers advise you to do, even if you’re not trading. What I’m suggesting is that I just optimize those moments and I basically look for the best opportunities as I’m doing this slightly more active.

[00:07:09.650] – Josh

So whether or not the juice is worth the squeeze, it depends on how much more you could overperform. But I think for most people, just having sound investment strategy is really the key, and that’s what you want to start with.

[00:07:23.120] – Sean

Sure. Now, that’s good context on what your fund is. What I’d like to do next is let’s dive into your personal strategy. This is not your client, so I want to know, what are you specifically doing? And then we’re going to lead into in a little bit here, your new website, this top dollar investor. Com. But anyway, what do you focus on personally?

[00:07:42.190] – Josh

Sure. So the core of my portfolio is in equity holdings. Again, it’s heavily in passive index ETFs. I love a lot of the classic Vanguard funds like V00, VTI. These comprise a huge amount of my personal holdings. A gain, personally, I do asset allocate a little bit of money to commodities. I own real estate in my portfolio, mostly residential, a little bit of commercial. And what’s actually interesting is just segueing into top dollar. Top dollar Investor is a new brand I have. And the idea of it was that I thought there’s a lack of really good advice. There’s a ton of advice out there, and there’s a ton of gurus and experts who are touting advice. But I think a lot of it is not super accurate, not very valuable, and not very actionable. So I thought I could provide better quality advice, and there’s room to do that. So one of the things I actually do on top dollar investor. Com, if you go to the homepage, you could scroll down and click directly on my portfolio. And it actually shows you, and I updated, try to update it at least a couple of times a month, anytime I make big position moves, you can see exactly what I’m invested in right now.

[00:08:52.610] – Josh

Like line by line, these are the ETFs I’m holding. If I bought a few individual single stocks, which sometimes I do just based on It’s a small percentage of my portfolio. I think passive index investing is the way to go. But in full transparency, I just show you exactly what I’m holding. And I also take a bit of a macro view as well. So I do invest in other geographic areas. I buy China ETFs and other emerging market ETFs and sometimes a little bit of developed Europe and other geographic areas more so than usually sectors. But I have a little bit of sectors as well. You could see it all in there.

[00:09:28.360] – Sean

Sure. Yeah, that’s love the transparency. I do the same thing with Tykr, although my portfolio is a lot more focused. I see here you got 51 % in S&P 500. Correct. And then the audience loves this because they’re going to know, what are you investing in? So I’m going to list some of the names popping out here. You’ve got Amazon, AMD, I also hold AMD. Apple, there’s a good one. Cisco, I see Chevron, Goldman Sachs, Johnson & Johnson. Those who are interested, you should go to top dollar investor. Com. We’ll touch on some of your articles here because you’re doing a great job on your writing. But I’m looking at your PayPal, one of my biggest holdings. I see Target, Uber, Walmart. There you go. They’re making big tech advancements over the coming decade. So that’ll be interesting retailer to pay attention to.

[00:10:17.180] – Josh

Yeah, I think, again, in line with the index investing, I think when you’re interested and engaged and always reading about and you have your finger on the pulse of the market, you might have some conviction for the way that certain companies are investing or moving or directing and feel like there’s maybe a little more upside. So I generally suggest that even new investors try to allocate, even if it’s a really small percentage of their portfolio, to a bit of active investing, even if it’s primarily in blue chip stocks. I’m not suggesting anything that’s extremely risky. So you can see it’s a minority part of my portfolio. The core is really in Dexes.

[00:10:54.270] – Sean

Sure. Now, you mentioned you’re also investing in real estate. Are we talking REITs, actual funds you can buy or outside of the market you’re actually investing in, whether it’s a syndicate? We get a lot of retail investors on this podcast. That’s why I asked this. They’re either getting away from fix and flips or maybe single family and moving to these larger syndicates.

[00:11:16.200] – Josh

So I do a bit of both. I have invested and I’m constantly moving in and out of different types of residential properties. And I played landlord or property manager where I’ve done long term tenants, I’ve done seasonal rentals. I’ve also do a bit of commercial. Right now, I’m invested in some properties that are invested in manufactured housing and RV parks and different types of units like that all over the US. So I have quite a bit of different experience in different investments. I don’t necessarily feel like I’m against or for any specific type of investment. I think with real estate, it’s very much deal specific. And you have to look at, the term is used, cap rate. What the return and the internal rate of returner will actually be on the exact property and the exact investment more so than, Oh, I want to invest in a hotel or I want to invest in a car park. So that’s what I do more on the real estate side. I don’t actively own any REITs, as you could see up on my portfolio, but I have written a good article where I analyze on my site different types of REITs.

[00:12:19.260] – Josh

I think REITs are tricky, especially for new investors, because for those not familiar with REITs, REITs obviously stand for real estate investment trusts. A lot of people equate them to ways that you could invest in a diversified basket of real estate. E ssentially, that is the idea of what they are, but all REITs are not created equal and REITs are really nuanced. Some REITs are actually investing in the funding side of real estate, so you actually are buying mortgage backed securities, which some of your audience might remember from 2007, 2008 is a whole different type of more speculative risky asset and quite different than what people consider real estate to be a bit of a safer asset. And others are investing in various types of real estate companies. A lot hold big assets like Simon Property Group, which is a giant owner of a lot of major malls. And you just have to think about where is your investment, where is your investing in commercial property malls? Is that where you want to be? I think they’re actually probably the leader in that commercial space and their portfolio of malls is maybe the best. So as the retail world maybe ends and it’s the end of brick and mortar over the next century, they probably are in the best position.

[00:13:28.320] – Josh

But my point is just that I think with REITs, you have to be a little careful, something just to be aware of.

[00:13:33.270] – Sean

Sure. Yeah, that’s good to know. Let’s take a quick commercial break. Have you ever lost money in the stock market? Maybe you heard or saw a comment on YouTube, TikTok, Reddit, or another social platform. Or maybe you just receive bad advice from a friend? Yeah, I think we’ve all been there. Most people lose money in the stock market because they make decisions based on emotions. What if you could remove emotions from investing? What if you could make consistent returns in the stock market based solely on logic? And what if there’s a software that could handle that logic for you? Introducing Tykr, a platform that helps you manage your investments with confidence. Get started today with a free trial. Visit Tykr. Com, that’s TYKR. Com. Again, Tykr. Com. All right, back to the show. What I’d like to do next is talk about this top dollar investor. Now, you’ve been working on this, I think, offline. You said about six months. Is that correct?

[00:14:25.740] – Josh

Yeah, I basically have been moving on it a lot over the last 6 to 9 months.

[00:14:31.140] – Sean

Okay. You have some really fascinating articles, which I look forward to diving in offline. To the audience, I’ll list some of the titles here. So one that jumped out that’s really in line with this podcast, which is residual income. What is it and how to build it? That’s straight to the point. I love it. I see here what to do when the stock market is crashing, very straightforward. But I mean, the search engine targeting there is brilliant. Best ETFs to buy in your portfolio. So you got to be a content generating machine. Are you writing this on your own or are you getting help?

[00:15:02.760] – Josh

I’m mostly writing almost everything myself. I hired some teams of editors to help me push out the content, but I found that when you’re trying to actually put out actionable content, hiring journalists who are experts in investing isn’t really going to cut it. So I want to make sure that all the advice I’m putting out there, and again, it’s educational, right? This isn’t technically financial advice. It’s finance education. I just want to make sure that it’s up to the standards that was my original vision to put out high quality content.

[00:15:33.370] – Sean

For example, this best ETF to buy, this is a long page. To write an article like that, how much time are you spending on this?

[00:15:41.420] – Josh

The more in depth research projects like that could take me upwards of 20 hours an article. I obviously have tools like a Bloomberg terminal that your average person doesn’t have access to. So I also have resources to be able to put together reports like this. So like my best ETF list, I look at the things that I think are really important from my background and my knowledge and I analyze, like implicit cost, for example. So I look at the average bid ask spread, which for your investment, if people aren’t familiar with what that is, when you buy an ETF, you’re buying it on exchange. So if it’s worth $100, very liquid ETFs are maybe quoted one cent wide, where another illiquid ETF might be quoted three, four, or five cents wide. So I look at the cost of things like that and how that will ultimately impact your overall investment and return.

[00:16:29.570] – Sean

Sure. And then for the titling, because I had mentioned your search engine targeting is brilliant. Are you using a tool in that case?

[00:16:36.070] – Josh

I am. I have definitely started geeking out a lot on SEO, so I’m using currently Surfer SEO, which is an industry leader, very popular.

[00:16:47.460] – Sean

Sure. Yeah, well done. So what’s your plan with this? Is it to drive leads to your fund, your firm, or are you looking to turn this into some product? Maybe you monetize the blog in itself, so it’s creating residual cash flow?

[00:17:02.260] – Josh

I think overall, my long term vision is to probably connect with my audience and try to figure out where I could create a product that’s most beneficial for them. I thought of putting together more actionable courses, but I’m not sure if that’s necessarily what’s wanted. So I think I want to spend the next year just putting out content, speaking more and connecting more with my audience and then maybe deciding what I could actually do to actually meet that with something very actionable.

[00:17:31.820] – Sean

That’s a good strategy is we did the same thing is you don’t have to be a genius and come up with every idea. Put that weight on the customer. Get their feedback. Get them involved in the design process. What are you looking for? What are your pain points? I just learned from past experience that works back. So it sounds like you’re doing exactly that.

[00:17:51.240] – Josh

I started this journey not really that comfortable using a lot of different social media platforms. I think something like Twitter is phenomenal for that. You could go out and literally ask your audience and followers, I’m thinking of writing a report on this or this. Which one would you rather? You’ll get a whole bunch of responses within a minute and you’ll be like, Okay, this is what I’m going to work on over this week. That level of feedback is amazing.

[00:18:17.880] – Sean

Yeah, it’s brilliant. You don’t have to, again, be the genius. You don’t have to come up with it. You can rely on your audience. And as we’re speaking, actually, I’m bouncing around in your site, you got your intake, a little pop up form asking for email address to get more value ad. I actually signed up right away. So we’ll see what you got.

[00:18:36.560] – Josh

Absolutely. I want to put out some more active newsletters and informational content and again, try to steer that to what people want, whether it’s analysis or what’s trending in my mind. So again, that’s also something that’s a bit more fluid.

[00:18:51.540] – Sean

And what you’re doing is making investing really approachable for the layman is really like that’s part of the reason I created Tykr is you got to make it approachable. So many people make this over complicated and it will be really exciting to see where things go. Maybe it can become some product. You can create a SaaS of some sort or maybe horses, maybe a Mastermind. Who knows? We’ll get you on here again. We can.

[00:19:16.590] – Josh

Talk about that. Absolutely. I have a ton of different ideas and a lot of people have been giving me advice and thoughts. So I’ve considered the whole spectrum. So I’ll have to come back again in another six months when I’m further down the road or so.

[00:19:28.270] – Sean

Since you’ve got a lot of experience in the markets managing money for other people, you’ve got your finger on the pulse. There’s people right now as we speak, as of this recording, which is April 6, the market is still down, although improvements have been made. We went from inflation of 9 % in June. We’re at about 6 % now, early 2023. I would love to hear your perspective. Where do you think are going from here?

[00:19:54.860] – Josh

Sure. Every time is always a new unprecedented time. Every crisis is a little different. Overall, long term vision and when we look out 5 to 10 years, these all become blips. So as a long term primary investor, I’m super confident in the long term performance of the markets, the US economy, the world economy, where we might be over the next year or two could be quite choppy. I mean, I’m not advocating nor am I cutting down significant chunks of my allocations to stocks or moving more to risk adverse assets. But I do think it is sensible to consider that there’s a possible looming banking crisis. We all know the regional banks have been hit hard over the last few weeks, and I don’t think we’ve seen the final shake out of it. I think there’s a lot of bad balance sheets, and we’re in a really difficult environment. The Fed is torn between two tough places. They’re trying to taper inflation, which is being tapered, but they’re still fighting the fight, and they definitely still have signal that there are going to be more rate rises to come over the next several months. And then we have a bit of a cooling in the economy, and generally that is a reason to not raise rates and to lower rates.

[00:21:11.200] – Josh

But again, that would fuel inflation. So it’s quite difficult. And people use this scary economics word stagflation, which refers to when you have inflation and the economy is not growing, you’re in between a rock and a hard spot. And it’s a real concern of where we are. Does it keep me up at night? Does it make me think about my long term investments very different? No, but I think you stay with it. And the dark is dawn. Sorry, it’s always darkest right before the dawn, as they say. And I think you never want to be investing when everything looks great and we’re hitting new highs every single day. You want to keep investing, keep dollar cost averaging, stick to your guns when the markets are rocky and the markets are not valued at all time highs. I mean, this is generally going to be a reasonable time to be investing. Obviously, we’re not at some crazy doom and gloom recessionary levels where the markets have just been pounded. And these are amazing valuations and the best time to get in. I think we’ll expect to see the markets chop around up and down a little bit over the next year until we see how corporate earnings look, how this pending recession looks, what inflation looks like, what energy costs look like, some of the big macro economic factors.

[00:22:24.760] – Sean

Yeah, great perspective. I totally agree, too. It could be a little chop. With our strategy here at Tykr, we’re all about stockpiling. In other words, you want to buy as much as you can when the market is down. And a lot of stocks are still beat down pretty bad from all time highs. It’s like, get in before they tick off like a rocket. When this market goes, you don’t want to miss the train.

[00:22:46.380] – Josh

Absolutely. I think if you look at things a little cyclically, we’re definitely in a… The next cycle will probably be a bull market uptrend of a bit, not to get into the technicalities, but we have a little bit of a short term debt crisis here, which is shaking its way through the whole banking crisis. And that’s not surprising just because of the aggressive move on interest rates without getting too geeky into the economics of it or how I see it. But I totally agree with you, Sean. I think there will be another rising cycle. It’s hard to say when or where. I feel like there’s more upside than downside. So when there’s a symmetric risk, I overall think it’s a pretty decent time to be investing in the market. But expect to see some choppiness, I think is fair. Right on.

[00:23:32.020] – Sean

All right. Before we transition to the rapidify round, I’d like to get your input. What is one key take away you can give our audience today?

[00:23:42.060] – Josh

I think the number one thing for most investors, and we hit a little bit on this, is to try not to get emotional in your investments. I think you want to stick to your general guidelines, your general plan, and how the market is performing, whether the market goes up or down is irrelevant. That’s not a variable that should have an impact on a long term investor or making choice decisions. And I know it’s tough. Sometimes I almost recommend that people turn off the business channel and don’t watch CBDC or Bloomberg. And everyone is on TV talking about, oh, my God, this is it. This is the… And it sometimes encourages you to wait or let’s just see. And you missed the biggest balance. If you looked at the COVID crash, you had the market over the course of a week at the ultimate low, low, low when things looked like it was the end of the world, crashed down an extra 15 %, it was back up 20 %. If you waited, you missed some of the most amazing prices out there and opportunities. So I think just focus on sticking to your long term strategy, continuously investing.

[00:24:43.260] – Josh

Obviously, I also agree when the markets are more beaten down, it’s more of an opportunity. And psychologically, that’s hard to act on. So try not to think and just act the way that you’ve already pre planned for.

[00:24:55.880] – Sean

Right. Great advice. That’s one thing we stress here with Tykr. You don’t have to be the smartest person in the room. You don’t have to be a math genius to be good at investing. None of that. You really, at the end of the day, need to control your emotions. If you can do that, you can do very well in the market.

[00:25:12.140] – Josh

I absolutely agree. I think if you could control your emotions, you will outperform the markets just because your timing, even if you’re investing only in the S&P 500 Index ETFs by allocating more on those dollar cost averaging when the market is lower, you’ll technically have more money in at lower levels. And over time, you will actually overperform, which is a concept a lot of people don’t understand. They say, Well, if I just invest in the S&P 500, I’ll never outperform it. First of all, if you made 12 and a half % a year over the last 100 years and continue to, your portfolio will be doing quite well. But that’s besides the point. I mean, you will still potentially even slightly overperform, especially when you count for portfolio rebalancing and other strategies. Right on.

[00:25:56.860] – Sean

Let’s take a quick commercial break. Hey, this is Sean. I’d like to say thank you for taking the time to listen to this podcast. I know there’s a lot of other podcasts you could be listening to, so thanks for taking the time to listen to this one. I have a quick request. If you have a moment, could you please head over to Apple podcasts and leave a five star review? The reason is the more ratings we get and the higher those ratings are, the more Apple will share us with the world. So thanks in advance for doing that. And then I have a quick comment. If there are any questions you want me to ask the guests, please head over to our Tykr Facebook group. You can drop a question right there. I’ll go ahead and make a note and I’ll do my best to ask that question on the podcast. All right, back to the show. All right, let’s transition to the rapid fire round. If you can try to answer each question in 15 seconds or less. You ready? Sure.

[00:26:46.420] – Josh

All right.

[00:26:46.790] – Sean

What is your favorite podcast?

[00:26:48.560] – Josh

I like Afford Anything by Paula Plant. Okay, nice.

[00:26:52.920] – Sean

What is a recent book you read and would recommend? Merchant Princes.

[00:26:58.020] – Josh

It’s a story of how immigrants came to the US in the 1800s and basically set up all the major department stores. It was a lot of immigrants that came over from Germany, Poland, Russia. I found that quite interesting. Adding to.

[00:27:12.300] – Sean

My list right now, that does sound very interesting. All right, movie question. What is your favorite movie?

[00:27:18.680] – Josh

The Prestige. I’m a huge Christopher Noland fan.

[00:27:22.780] – Sean

Good choice. Let’s say this, I don’t think he’s had a bad film.

[00:27:29.610] – Josh

No, Interstellar is also an exceptional film. He really doesn’t do bad films. Yes.

[00:27:34.750] – Sean

Inception is actually one of my favorites all time. Great movie. He’s got an openheimer coming out this summer, so we’ll have high expectations there.

[00:27:44.730] – Josh

Yeah, absolutely. All right, a.

[00:27:47.150] – Sean

Few business questions. What is the worst advice you ever received?

[00:27:53.210] – Josh

Perhaps don’t try something because you don’t necessarily understand the business plan or the vision yet. Nice.

[00:28:01.390] – Sean

And flip the equation here. What is the best advice you ever received? I think.

[00:28:07.250] – Josh

Just try everything. Try all the junk, try every little aspect and see what works. And sometimes the more you dig into things and get into the weeds, the more opportunities you’ll find. I’m going to.

[00:28:18.430] – Sean

Expand upon that. I feel like a lot of people out there are afraid to try new things or get out of their comfort zone because you never know it might be something you like and something you’re good at, people value, can turn it into a business, maybe a new career. You never know. Absolutely.

[00:28:34.730] – Josh

I mean, just to relate it to top dollar investor, I’ve never really been much of a writer. I’m a quantitative guy who does a lot of analysis, who’s always been math heavy. And when I was first telling people about my idea, they said, Well, who’s going to write it? You’re not a good enough writer. So I think that’s what made me think of some of these questions. That’s a hold.

[00:28:55.060] – Sean

My beer moment. You could send them the ETF article that was like a mile long.

[00:28:59.440] – Josh

Well, whether or not it’s written, it remains to be seen if it’s written well. But I think the content, the quality of the content speaks for itself.

[00:29:06.660] – Sean

Yeah, you’ve done a great job. I’m going to be diving in. All right, last question here is the time machine question. If you could go back in time to give your younger self advice, what age would you visit and what would you say?

[00:29:19.140] – Josh

I think I would go back to my high school self when I was trying to decide what I wanted to do for the rest of my life. And I always thought I wanted to be a surgeon. Then I got intrigued with finance and I saw there was potential to make some money and I thought trading was interesting and I branched off that way. And I think that’s a silly way to go. I’m really happy with where I am in my career and I’ve really enjoyed working in finance and investing. But I almost wonder what life could have been if I just stuck to my passion growing up. My whole childhood was to be a doctor. And I think maybe I gave up on it too soon for reasons that were a little abrupt. I just was like coming of age at 16, 17, and I’m like, oh, what am I going to do? Maybe I should go into business. Maybe I can make some good money doing that. So I think you could always find amazing opportunities if you’re really passionate about something. And I have no doubt that I would have been super successful in something that I was passionate about.

[00:30:20.480] – Josh

Sure. Right on.

[00:30:21.670] – Sean

Well, Josh, thank you so much for your time. If you could, please let the audience know where can they reach you? Sure. So you.

[00:30:27.770] – Josh

Could reach me on my website at top dollar investor. Com or on Twitter at @top dollar invest. And thanks a lot for having me today, Sean. I’m looking forward to coming back in the future. All right. We’ll see you. Thanks.

[00:30:41.640] – Sean

Hey, I’d like to say thank you for checking out this podcast. I know there’s a lot of other podcasts you could be listening to, so thanks for spending some time with me. Also, if you have a moment, could you please head over to Apple podcast and leave a review? The more reviews we get, the more Apple will share this podcast with the world. So thanks for doing that. And last thing, if you do hear any stocks mentioned on this podcast, please keep in mind this podcast is for entertainment purposes only. Please do not make a buyer sale decision based solely on what you hear. All right, thanks for your time. Talk to you later. See you.