The Market Is Crashing. Here’s What We’re Doing About It…
About This Episode
Sam and Shaan discuss their strategies for handling stock market volatility, emphasizing the need to avoid emotional 'reactions' in favor of logical 'responses.' They also dive deep into the 2024 Olympics, highlighting underdog stories in track and field and exploring the history of Cintas to discuss the complexities of building generational family businesses.
Episode Description
Show Notes
- 0:00Boys React: The market dip
- 4:32React or respond?
- 10:48The Olympics winners and losers
- 19:03Winner: Fem Kabul
- 21:26Winner: Team Refugees
- 24:48Loser: Simone Biles and Gymnastics in general
- 27:30Loser: Pole vault guy memes
- 28:18Winner: Noah Lyles
- 30:41Loser: The Olympic's programming
- 34:00The $75B dollar uniform rental empire
- 38:18Building a line of succession for your business
Check Out Shaan's Stuff
Check Out Sam's Stuff
Key Takeaways
Implement a '30-to-90-day no-reaction rule' during market crashes to allow emotional 'reacting' to settle into logical 'responding' before making portfolio changes.
Adopt the philosophy of 'find the people you love and do life with them,' prioritizing working with friends and family despite the inherent messiness for the sake of shared experiences.
Foster independence in leadership by avoiding over-centralization; as illustrated by the 'deadbeat dad' analogy, allowing leaders to own their numbers and mistakes creates tougher, more independent operators.