It’s the gift that keeps on giving. As Rule Breaker Investing celebrates David Gardner’s birthday, we’d like to thank you for all the notes, emails, and tweets summarizing the lessons that matter most to you.
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This video was recorded on May 15, 2024.
David Gardner: Once a year, well, it happens to you too, right? You have a birthday and that time of the year, every year for me, is mid-May. We’ve had a tradition with this podcast, which is that you give me a gift, which you did once again this month. Thank you so much. You give me a gift in the form of notes, emails, tweets, sharing what you’ve learned from this podcast. Then I organize your thoughts and I give a gift back; a concise and entertaining summary of the cardinal points made, the most frequently recurring points you make, which really in a way summarize Rule Breaker Investing, especially for new listeners. This series is entitled “What You’ve Learned from David Gardner”, and here in 2024, that’s volume 5. What you’ve learned from me. Thank for the birthday present. Only on this week’s Rule Breaker Investing.
Happy birthday to you, my fellow May birthday friends. I know there are a lot of you out there, perhaps especially to those like me who have birthdays this week. Happy birthday. That includes Janet Jackson, by the way, who’s never appeared on this podcast other than my seemingly annual mention that Janet and I don’t just share the same birthday, we share the exact same birthday, so happy 58, Janet Jackson, twins forever. This year we’re going to do it in eight points this week; four for investing, one for business, and three for life. Now, before I get started, two points to make upfront. The first is, while I have eight lessons for you this year, there might be a ninth, unspoken lesson here too worth heeding, so let me speak it out a little bit. I’m going to make it my ninth shadow lesson. I’m going to put it right up front here first. Through this podcast, I’m always intending to talk with you from week to week about investing and business, and life. Thus it is in their inter-connectedness that one of my more important lessons, this ninth resides, the lesson is connect them. They should be connected. If you disconnect investing from business, from life, that way, in my experience, trouble, maybe even eventual madness lies. Again, I know people who tend to disconnect these things one from another, investing, business, and life. For example, if you disconnect investing from life, you’re like, whatever, I’ll just buy that stock. I don’t really care what the company does out there in the real world. I don’t care what it does to people or to the environment. I’m just here to make money. Well, that’s disconnecting investing from life, and I think that’s a real mistake. Make your portfolio reflect your best vision for our future. The lesson is to connect them, and they should be connected because if you disconnect them, that way in my experience anyway, trouble, maybe even eventual madness lies.
Again, I know people who tend to disconnect these things one from another, investing, business, and life. For example, if you disconnect investing from life, you’re like, whatever. I’ll just buy that stock. I don’t really care what the company does out there in the real world. I don’t care what it does to people or to the environment. I’m just here to make money. That’s disconnecting investing from life, and I think that’s a real mistake. Make your portfolio reflect your best vision for our future. Or what about disconnecting investing from business? A lot of people do that. They’re like, hey, listen, I’m a professional, I’m in business, I don’t have time for investing. I just give my money over to my money guy. Hope it all works out. While I hope it does for you, and it can but a reminder, no one, absolutely, no one cares more about your money and your financial freedom than you do. Or conversely, sticking again with disconnecting business from investing, maybe you start day trading. You’re the one who buys that TradeStation 3,000 and you’re all about the zigs and the zags, the wigs, and the waggles, you’re probably very short-term oriented. You’re disconnecting investing from the real work of the businesses themselves. These aren’t companies, they’re tickers with charts. Really. The last example of disconnection. What about disconnecting business from life? Well, for some of us, we can think of people who were so much about their career, they’re forgetting in part about the things outside their career. For example, sometimes sadly, their families.
I think just as conscious capitalism seeks out that win, win, win for customers, for employees, and for shareholders. All three. It’s in that holistic view of solving for everyone. Here, winning for your investing, winning for your business and professional career, winning in and for your life, I think we owe it to ourselves, our families, and the world at large then to connect investing, business, and life to win, win, win. ABW always be winning. Always be going for three-way wins. Anyway, don’t disconnect, connect investing, business, and life. That’s my shadow ninth point, put right up here, up front. That’s what we try to do on Rule Breaker Investing, which by the way is now in its ninth year and counting. That’s the shadow lesson that won’t otherwise be spoken to this week. The second point, briefly, some of these that I’m sharing with you this week are occasionally hard for me, a bit embarrassing in parts to read. If someone’s ever written a heartfelt note to you, you read it, you probably loved it. But did you then read it out loud for everyone to hear what I’m doing here? Probably not.
They can sound a little bit prideful. Please know that anything over the top, I am excluding, I’m excluding too some portions that my correspondents asked me to exclude, in one case, their full name. But not to read some of the most heartfelt language is itself a minor, a front not fully honoring or reflecting the sentiments of the kind person, writing it. If here or there, it’s a bit awkward for me to read, I’m going to do it anyway. But mostly the aim is to convey rational lessons from my kind correspondents. My fellow Fools and Rule Breakers. This episodic series every year is to be a guide of the nudges and reminders of the clearest strongest points I tried to make over the weeks, months, and years, and I can’t do that unless you let me know what they are and what you’ve learned. Thank you once again for writing in. I feel celebrated. I feel honored. It’s my birthday. Let’s get started. As I do with many, a mailbag, I’m going to do here with this episode. What you’ve learned from David Gardner, with some Twitter hot takes this week. At K. Scott Berges, Kelly, thank you. You said one, I learned kindness, intelligence, and wealth do not have to be mutually exclusive. Two, so much of life is a game. Play it with the joy of a child and wisdom of an adult. That is better put than I think I’ve ever put it. Kelly, Thank you. At Scott_Peace. What have you learned from me, Scott? You will have losers. I love that point, you know I do. Yes, I’ve had many losers with stock picks I’ve made for Motley Fool members. Investments I’ve made on my own and that is its own important lesson. Too many of us I think fear losing. We do indeed need to lose, lose graciously and get ready to lose frequently, especially if you’re a Rule Breaker investor.
You got it, Scott. Thanks for letting me underline that. At Lisa A 105. Lisa, you said, what have you learned for me? To not panic with an appropriate emoji. I’m glad that Scott Adams and I can teach the world that. Thank you, Lisa. Rob Shreeve at RES_Babyblue Rob, you said, “I learned to evaluate the Motley Fool selections, invest in what you know, invest in a broad portfolio greater than 25 stocks, and hold for 3-5 years, at least maybe forever.” Thank you, Rob. Very succinctly summed up. Last one I’ll share at 307Fool. One of my favorite Fools, Matt Hart Matt, thank you for this. You said, “I’ve learned hundreds of great lessons from your words and your transparency, but I’ve learned far more,” Matt said, “From your actions through your consistent work, you’ve helped me show that optimists can win and help others at the same time. A true winner, winning can create more wins.” Thank you, Matt Hart. You, sir, are a winner. Onto, What you’ve Learned from David Gardner. Again, I have four investing lessons, one business lesson, and three, in the area of life.
Here comes investing lesson number 1. Several of you wrote in to this same effect. It is in fact, the first habit of the Rule Breaker Investor, a podcast I did years ago. The very first habit, because I tend to lead off with the most important ones when I put together lists of the six traits that I’m looking for in Rule Breakers stocks, that first one, whatever it is, and if you’re a regular listener, you know that first one, I’ll be covering it again a little bit later, that first one really matters to me. I put the best one upfront, usually in my lists of six.
For habit number 1, I call it rule number 1. Let your winners run high. And this lesson came back to me in a number of your notes just to share a few. Frank DiPietro, thank you for this. Hi, David, happy birthday. Frank writes, the key learning that you gifted to me is to have the ability and emotional tolerance, Frank writes, to do nothing. If you want to have a super low basis in shares that you own, keep them for decades and ignore all the noise. If I remember correctly, in 2020, the first year of the pandemic, when there was tremendous volatility in the market. Other than for a family member, you made no sales or purchases of stocks for the entire year. You did nothing. Happy birthday. Signed Frank. Frank, that is accurate. I sure enough did absolutely nothing. In fact, not just in 2020. I don’t think I bought or sold any stock throughout the pandemic. Maybe once or twice or maybe to give some away to charity, but do nothing is in fact a great lesson and I’m glad that you’ve learned that from me.
Key is back in to rule number 1, let your winners run high. This was also conveyed well by Mark Jensen. Mark, thank you for this birthday wish. Happy birthday, David. You taught me something you’ve never said. The thing I’ve learned from you though, I don’t think you’ve ever said it, is never sell, ever. I find most of the stress in investing Mark rights is not the buying, but the holding. If I never sell than I’ve reduced that amount of stress. Mathematically, if I never sell, I can only lose 100% of a bad investment. But if I never sell, I might make 1,000% over 20 years. Happy birthday David and thank you, signed, Mark. Well, thank you, Mark. I want to mention that you can do better than 1,000% over 20 years. I do want to point out that 1,000% is actually 11 times your money. Sometimes people get tripped up by that, of course, 100% gain is double your money, so 1,000% would be 11 times your money Mark or an 11 bagger. I think, well, we often have done better, when we find true Rule Breaker stocks and hold them for 20 years. But sure, I’ll take an 11 bagger anytime. Thank you for that Mark and the last note along the same lesson, rule number 1, let your winners run high. My favorite came from Don. Dear David, perhaps the most important lesson I’ve learned from you, is let your winners run. Don writes, prior to becoming a member of the Motley Fool in 2008, I was inclined to sell a stock after it increased in value in order to lock in gains.
I often fell into the trap of thinking you never go broke taking a gain, Don writes. True, but if you always sell two or three baggers, you’ll never experienced the joy of much higher gains, paying capital gains taxes than reinvesting the proceeds and a stock that might not be as good as an investment in the stock I just sold was discouraging. Of course, many of my Motley Fool stock picks are not beating the market, but the multibaggers far, far outweigh any losers. This mathematical reality is another important lesson you highlighted for me. Don says, thanks to you, I’ve watched these winners run. Apple plus 6,200%, Chipotle plus 8,000% and Netflix plus 13,700%. Wow. Unfortunately, Don adds, I waited until 2012 to buy shares in amazon.com. It’s up 900%. Since then, I was also late to the NVIDIA party. It is up over 1,300% since I purchased shares four years ago. Besides providing for an early retirement, your advice has allowed my wife and me to donate many shares of appreciated stock to our church and other ministries. Happy birthday and thank you sincerely in Christ, Don. Well, Don thank you. I know having gotten to know you some over the years as a Motley Fool member that you served and led a number of churches. I’m just so delighted to hear your story. It’s so inspirational for anybody to put real numbers out there showing the benefits to all of us opening our eyes to yes, as Don says, Don’t be satisfied by just doubling or tripling your money. I know that sounds great. But rule number 1 is to let your winners run high. I think from each of these, fellow Fools, you’ve heard it said back mirrored back to us, a great reminder and investing lesson number 1 from what you’ve learned from David Gardner this year.
Onto investing lesson number 2. This one comes by way of Rich Smith. Rich, thank you for the note. David, what have i learned from you this year? Well, there are a myriad of things to choose from, Rich. There have been some classic themes I could pull from like dark clouds I can see through or to add up and not double down. However, I think I’ll take a Fooler spin hopefully on the times when you receive a question from none other than David G on the Rule Breaker Investing podcast and here Rich is referencing when I occasionally I write myself a mailbag item, but unfortunately Rich goes on, I am not used. To help me write you a birthday message that would be from you in essence, I decided to take up ChatGPT to see what would transpire. Here we go, says Rich. Here was this prompt write a 10-12 line birthday message to David Gardner from The Motley Fool about what I’ve learned from him from May 2023 to May 2024, that is in David Gardner’s voice. This was the response which I will read in honor of Rich’s effort and of course, artificial intelligence overall. Here it goes, happy birthday David.
It has the celebration emoji, thanks ChatGPT. As you add another year to your incredible journey, I wanted to take a moment to express my deepest gratitude for the invaluable lessons you’ve been parted upon me over the past year. Your unwavering commitment to seeking out and investing in innovative, disruptive companies has inspired me to think beyond the status quo and embrace the limitless possibilities of the market. Your emphasis on long-term vision and patience has taught me the importance of staying true to my convictions. Even in the face of short-term volatility. Your boundless enthusiasm and passion for investing fueled my own curiosity and drive to continuously learn and grow. Here’s to another year of wisdom, success and prosperity. Cheers to you David and may your birthday be as extraordinary as your impact in the world of investing. We’ve got two more emojis, the rocket emoji and the birthday cake Emoji and thank you, ChatGPT and Rich. Rich adds his own personal note at the end, back to me. He writes, learning to use ChatGPT has made some tasks easier and I want to genuinely on my own with no help, wish you a happy birthday, to add one more or less than from over the years of listening. While I missed out on investing in Costco when it was recommended years ago, I was able to add to my position a few more times, realizing how wonderful of a company it is. I hear you Rich, you’re adding up, not doubling down again. Happy birthday and may your Foolishness increase with each passing year. Foolishly Rich Smith. Well, Rich, thank you very much and that’s such a lovely note and thank you ChatGPT as well. Of course, I want to highlight two things that ChatGPT said there. The first is that emphasis on investing in innovative, disruptive companies. That’s otherwise known to me anyway as stock trait number 1 for the rule-breakers stocks. Trait number 1, top dog and first-mover in an important emerging industry. I’m glad that ChatGPT and Rich highlighted that because I think that’s one of my most important points I’ve tried to make over the years, not just at this podcast, but the last 30 years, ever since I first wrote it in our book in the late 1990’s, Rule Breakers, Rule Makers, and have picked stocks that way ever since, looking for the top dogs and first movers in important emerging industries. That is the way you find yourself with the best stocks of your generation. You can endure any number of losers to find those stocks and if you’re a venture capital-style investors as I am, you know that losing is part of winning. But when you do find the top dogs and first movers in truly important and emerging industries, you end up with a handful, maybe even more than that, of Rule Breaker companies leading your portfolios to massive gains over long periods of time.
I’m glad that Rich and his pal ChatGPT found that. I also want to just emphasize that phrase, that drive to continually learn and grow. I think that is what keeps all of us from being complacent. You might think you’ve got things linked with your latest stock. Then all of a sudden something comes along and disrupts it or a new technology like Artificial Intelligence, like ChatGPT emerges and starts making us all again, question our assumptions. Think again about what the best version of our future might look like and how we should be invested accordingly. That doesn’t mean you need to react or overreact to every weeks headlines, but it does mean that you should be continually learning and growing. That’s not just true of you as an investor of course, but as a professional and as a fellow livers of life. Thank you, Rich and Chat for highlighting those because those are really important lessons to be I love to share out through this podcast.
Let’s move on to investing lesson number 3. This one comes from my biggest fan, Jam. Jam, thank you again for writing in and for this birthday present. Jam, you write, hello David and RBI family. Happy early birthday. What have I learned from David Gardner? Well, where do I begin? So much wisdom to choose from.I keep a journal specifically entitled, what have I learned from David Gardner? In the years past, I gravitated toward life lessons, Jam writes. This year, however, I’m going to pick a financial one, the market capitalization. In the past, the only reference I had with market cap was either small, medium, or large, which only helped me with my portfolio allocation. By listening to this podcast and your emphasis on the market cap, I found myself referring back to it when trying to appreciate the value and size of any given company. Recently, a friend of mine excitedly told me that I needed to buy Chipotle stock because it was about to split. I was able to convey back that stock splits are not the best reason for buying a stock. But if my friend instead believed that Chipotle could grow beyond its current market cap, then that might be a better reason to buy the shares. Without this knowledge, we wouldn’t be able to have a meaningful discussion. I know he walked away with more understanding on how to see a company through, Jam writes, its market capitalization. “A big thank you for your creation of the Market Cap Game Show. It’s really made learning a mundane but important topic like market caps so much more fun and exciting. Happy birthday, forever a Fool.” Jam, my biggest fan. Well again, thank you, Jam. I will say a highlight for this year, for me of this podcast, has been the month that we dedicated to the Market Cap Game Show, the first time we’ve done that, now in our ninth year. March Market Cap Madness and our World Championship, and I think those of us who’ve been following along know that Andy Cross is the title bearer, the World Champion of the Market Cap Game Show. The first we’ve ever crowned, he happens to be the Chief Investing Officer at The Motley Fool. That feels pretty good to me as a shareholder of our company. But thank you. Market cap has always been an important topic. It’s such simple math. All you do is take the number of shares a company has and multiply it by the company’s share price. As we know, Jam, probably too many people in the world don’t really know how many shares are out there.
They just know, the share price and they think a low share price, especially penny-stocks, would be attractive. So they tend not to look at the great companies like Chipotle, that you mentioned, but they look for penny-stocks thinking that it’s all about low price per share, it’s not. It’s about the company’s market cap, and more important what that market cap might or might not grow into overtime. It enables you to size and understand every company in the market in the same way you can look up or down the aisle in a grocery store and see what’s on offer and all of the price tags. That clarity I think that market cap gives us, Jam, and all my fellow Rule Breaker, Market Cap Game Show fans, I think that’s worth highlighting and it’s a delight to share that lesson. The fourth and final investing lesson for what you’ve learned from me over the past year comes from Max Carr. Max, you wrote, “Happy birthday, spiffy Fool. You’ve been the most influential professional to me over the past five years. From you I’ve learned,” Max is having fun with this. I know where you’re headed with this, Max. Those who remember my 300th podcast, which is about 180 back or so at this point, more than three years at this point. You’ll remember my 300th podcast was entitled, This Is Sparta. It was my 300th podcast, and so you’re riffing off of that, Max. “This Is Sparta,” Max said, “one of my favorite episodes.” It really was one of my favorite episodes to do as well. I hope anybody who didn’t get a chance to hear it will just google Rule Breaker Investing 300 and relisten to my three points. The first one was entitled, This, the second one is entitled, Is. I wasn’t just joking, there are great points to be made about investing business and life from just the word this, or just the word is, but of course, the punchline was the third section, Sparta.
Max goes on, “Likewise, you have taught me we can invest in individual companies and win. We can have fun investing, winning, and losing.” Max goes on, “We can believe in and invest in something that others may not agree with. We can focus on and be thankful for the beauty and intelligence we have. We are,” Max concluded, ” “living in a protopia. You’ve shown me that even if the road less traveled is the one where we can lead a more interesting life, we can take it. No matter what the odds are, we all live our own lives, and we can play by our own rules, and we just may be better off for doing so. This is Sparta. Thank you, David.” Well, thank you, Max Carr. That was a fun one to close the investing section on. Just a few reactions back.
One thing that the movie 300 taught the world is courage in the face of overwhelming odds. The Spartan stand at Thermopylae exemplifies bravery and determination despite knowing you’re likely defeat. That puts me in mind of how we think as Rule Breakers because often it takes courage to buy in the face of overwhelming odds. A lot of Wall Street has often made this sound as if, I include myself, we on Main Street couldn’t possibly compete against the genius of Wall Street and all the algorithmic computers and all of the people on CNBC and their talk, we couldn’t possibly beat the market. Could you and I actually beat the market? Overwhelming odds? Very much can relate to that lesson from 300. A second one that I love, and you highlighted this, Max, optimism. Optimism that breathes through people who say, yes, we can. That’s exactly what your note did over and over. I think optimism, not just important to me, it’s always been important to this podcast. We highlighted it just a few weeks ago with Bill Burke. I know a lot of you enjoyed that podcast as did I. It was simply entitled Optimism, with Bill Burke. Anytime you need an espresso shot of optimism, just go back and listen to that conversation with Bill Burke. The third and final thing I thought about, since we’re thinking of three’s, Max, and I was thinking about your note is just the community of Fools that we have. The movie 300 reminded us that close-knit bond among the Spartan warriors. Great strength is found in unity and then camaraderie. Well, similarly, I’ve always felt that at The Motley Fool with my fellow Fools.
Well, there I’m talking about just my brother as we started it from nothing, our employees today, but even more importantly, the thousands upon, frankly, millions of people who at different points over the last 30 years have said, I’m a Fool too. Here’s why, we’re always going to be out-numbered as Fools, we’re always going to be underdogs when you call yourself a Fool, and when you say, not only that, but I’m a Rule Breaker too, that takes some courage. I think in that unity and in saying, I’m a Fool, you’re a Fool, we’re OK, we’re Fools. We’re not just OK, we’re having more fun. I think that’s a really great lesson. I hope that comes through Rule Breaker investing. Max, I think you get it. Four points done, four points to go. We’re moving now to business where there’s one lesson that Amit Somani, you helped make through your note. Thank you so much for writing in over this past week. “Hi, David. Happy birthday,” Amit writes, “Fellow Taurian. I run an early stage venture capital fund based in Bangalore, India, done so for the past 10 years. I’ve been a Motley Fool follower on and off since the mid 1990s.” That’s pretty much when we started the company, so that’s 30 years or so. Thank you, Amit. “I lost track, but your podcasts brought me back first as a listener and honestly now also as a subscriber.” Well, I’m delighted to hear that. “I’ve learned a ton from you.” Amit says. “Your podcast is pure giving, your infectious energy is inspiring, we also run a podcast and are now at about 150 episodes after four years.” By the way, Amit works for his own company. He’s the Managing Partner of Prime Ventures, as he mentioned, based in Bangalore, India. “We also run our own podcasts”, he said, “a 150 episodes after four years. I can tell you and your listeners that it’s exhausting. Hats to you and your team for your relentless energy, it inspires us. I love your humility and your inclusiveness. You’re always respectful and kind to all your guests, senior colleagues, even younger analysts that you bring to your show. As someone wise has said, ‘being kind is better than being right.'” And on the investing side, one of the many lessons I’ve learned from you is to keep buying your winners, not to mention, never to sell them.
A theme that keeps coming through, doesn’t it, dear listener? I wish your podcasts had existed in the 2000s. I’d have bought a ton more of Costco and Amazon and not just those initial positions. The way you left your gig at The Motley Fool in 2021 was also quite impressive. There was not much fanfare, yet you continued to stay connected and pay it forward, classy. I hope to mimic that someday. I count you in the same league as Peter Lynch and in a related way, Jack Bogle of Vanguard. Not only will you be counted among the investing greats, but your wisdom, passion, your overall “joie de vivre” will live for a long time. Last but not least, if the Motley Fool were ever to be a publicly listed company, I’d be one of the first to queue up to buy its shares there, I said it. Thank you. Good luck. God bless you, David, regards Amit Somani. India is at a time in its economic journey where it needs its own Motley Fool, I would love to invite and host you here someday. I parked this beautiful note, Amit, thank you, in the business section because we’re speaking one businessman, one business Fool, to another. I’m glad you’re doing a podcast. I have found the act of doing a podcast. You’re going to need to have a pretty good producer, and I’ve had them, Rick Engdahl for most of the time, now on sabbatical, and of course, my pal Dez Jones, now working behind the glass, you need to have a good sidekick to do a good podcast.
Ibenefit every week from the edits that shorten this podcast. I realize sometimes that I probably talk on too long, I hope I don’t do so this week, although it’s a special week but having a great producer matters a lot. Ultimately, going back to the mic in good times and bad, we’ve been through nine amazing years of ups and downs in the market. Picked some stocks along the way, done really well. But most of all, I hope, conveyed the important lessons of investing and business and life, and Amit, it’s a delight to have you and your attention. I wish you the best in Bangalore, I hope the Motley Fool does make it to India one day. It’s not my call right now or these days, but I would love for us to be there. It’s the most populous country in the world, I will say we’ve kicked at this and tried this at different points or thought more about it. Some of the regulations, we found very onerous to open up an investing advice business internationally in India, I’m speaking more for the team, which whenever I forward notes like yours to them, they say stuff like that, having done some of their due diligence but I hope the world continues to opening up. I really love India. I think it represents so much of the future of the world. For the rest of my life, you will be the most populous country in the world and there are a lot of good Indian friends that I have. So thank you, Amit, I’ll count you among them. Best wishes, my friend. Now our final three lessons, what you’ve learned from David Gardner and thereabout life. The one I’m going to lead off with is the one that probably recurs most frequently from one year to the next. This is the fifth episode in my annual episodic series. Sometimes it will repeat itself from one year to the next, and sometimes new themes will emerge here or there. This is a timeless theme that will keep bouncing back every year I do these, it so far has, in every year I’ve done these.
Martin Triggs, you put it very well. Thank you. What have I learned from David? Greetings, and a very happy birthday. David, I’ve learned so much. I’ve filled up notebooks with your contrarian lessons and insights since these great Rule Breaker Podcast began, Martin writes, writing in from Japan. I would say the most impactful thing I’ve learned from you is your exhortation to, and I put it in quotes, “lead a more interesting life”. This is something, Martin writes, that we should all try to do every day. It helps break us out of our prison of self, keeps us curious and learning about the strangeness of life. It can be done as simply as reading a quality book, you or your guests mentioned, or read some history to discover new things about your own country, the area in which you live. Serve the elderly, veterans, the poor, people in desperate situations of which there are, Martin reminds us, always many. We must also encourage them in the midst of the storm to also try to lead more interesting lives. Regards Martin Triggs. Well, thank you for that, Martin, so succinctly said. There is a podcast that I once did, one of the shorter I’ve ever done for Rule Breaker Investing. Anybody who’s not heard my mini sermonette, I think it runs 10 or 12 minutes. Just go ahead and google “Lead a More Interesting Life”, it tells a story and conveys the points I would say, in about eight more minutes than Martin spent in his own. Martin, thank you for so succinctly, summing up, maybe the most important lesson that I can offer. Anyone listening, lead a more interesting life, which is, on the face of it, a life point, whether it’s the podcast I just mentioned where I speak to this or me speaking right now, I’ll remind you, it’s not just a life point. The surest path to being a better investor is yourself to lead a more interesting life. Get in touch with what’s happening in the world, think about the future, go out there, take some risks, try things, travel. Speak to people you would never have spoken to before. Lead a more interesting life. You will learn so much more about what’s going on and that will translate directly into the investment choices that you make in the portfolio that we are all building for ourselves, our families, our financial freedom. Lead a more interesting life. Thank you, Martin Triggs. Let’s move on to the second of three points.
This is, for those counting at home, number seven of the eight lessons from this week’s podcast. This one comes from longtime Fool, Jason Trice, and many regular listeners will remember Jason from the mailbags of the past, but maybe most particularly, maybe my most special mailbag of all the 100th mailbag. I tend, whether it’s 300 or 100, I tend to make a big deal of round numbers as we do many contexts in life. No exception here on this podcast, our 100th mailbag, done just a few months ago, featured the live voices of some of our favorite regular correspondents. Jason Trice was one of them. Jason, you’ll be remembered by many for what you said a few months ago. I want to add what you said for my birthday, to this podcast. Thank you. Dear David, Happy birthday, Jason, writes, and thank you for the opportunity to share these lessons each year. I enjoy writing these notes as they serve as a great way to slow down and process the wonderful lessons you share with a rule-breaker community each week. This year, I learned several powerful lessons, none more impactful than one I saw in action during the 100th Mailbag episode. Let me first say what an honor it was to be included in such a wonderful collection of rule breakers. As I joined you and other Fools via Zoom, I had a realization that was hard to put into words. Then during the most recent last week’s episode, ‘Blast From The Past Vol. 9’, I heard you share highlights from a previous interview with Roy Spence, and I was able to tie it altogether. You spoke about the power of being a ‘for person’, as Jason is writing and repeating. If you didn’t get a chance to hear it last week, I hope you will dear listener, this is as opposed to being ‘against person’, shouting down others, explaining what you’re against contributing to some of the lack of civility we sometimes see in our world. Instead, being a ‘for person’, someone who’s for things, for people.
Continuing with Jason’s note, you said it was a force multiplier. I saw this inaction during the one-hundredth Mailbag episode of foreperson is someone who roots for others. They’re looking to help, encourage, and build up. Their consistently thinking of ways to create wins for others. This desire doesn’t come from selfish ambition, but as driven by an inner humility and the natural joy of seeing others succeed. This is what I observed during the 100 Mailbag episode. David, you are a foreperson. It’s multiplied through your organization and the rule-breaker community. I am overwhelmed when I reflect on the last four years and think through my investing journey, the road has paved with Fools who went out of their way to help and ecourage me. Thank you for being for me. Thank you for taking valuable time to encourage me on my journey. I’m forever grateful, will do my best to continue your example. Happy birthday and fool-on. Jason some notes don’t really need me to editorialize or add too much after it. Yours is one such, thank you. That was beautiful, and I receive it. It was so well put.
Before I hit the final one, Number 8, our third life lesson, let me just mention there were a lot of great contributions I couldn’t really read or fully share. I do want to call out Jason Moore on Twitter. I know many people still call it X. Still going to hear me calling it Twitter for a prolonged period here on the Rule Breaker Investing podcast but Jason did a beautiful job tweeting out a really nice tribute to this podcast and some of his favorite episode over the last year of this, I guess my 58th year on this planet so thank you, Jason. Anybody who is on Twitter/X, just look up @JimminyJilickrz. You can look up our hashtag at RBI podcast and you’ll see his lovely listing done on Tuesday, May 14 at JimminyJilickrz. It’s hard to spell. I’m not going to bother, but a lot of us follow Jason because he’s really a fun guy to follow. He called out a number of the episodes he’s appreciated in the lessons that he learned from them. I just wanted to honor that effort by mentioning that here. Now on to, what have you learned from me? Number 8, this one from first-time correspondent, Kevin Jong. Kevin, thank you. Kevin writes, happy birthday.
I’ve been a listener of your podcast since 2020, and it’s made Wednesdays, a highlight of my week for the last four years. Thank you, Kevin. I’ve never written a letter to you before, but I must write to you this week. I’ve had two big recent life changes that have led me to think often about you and what I’ve learned from you. First is I became a dad two months ago. It’s been the most challenging but rewarding experience of my life. The many baby duties like feedings, diaper changes, bottle cleaning means more time to listen to Rule Breaker Investing podcasts, especially old ones that I missed from 2015 to 2020. My son will probably learn more words from David Gardner then from his dad for just the next year or so with a smiley that is funny half. David, I learned so much from you about being a dad. It’s not just head knowledge, Kevin writes, I’m taking action. I just started an investment account for my son this past week where I will incorporate Foolish investing principles. I will also keep a note of funny sayings as he learns to speak. I will encourage my son to face obstacles head-on like you did for your children. David, thank you for showing us qualities of what a great dad looks like. I will strive to bring joy, humor, love, and great financial advice to my son and family, like you’ve brought to our community for all these years.
For my second big life-change, there’s a bit of context. First, I’m a child of immigrants who came to the US with very little. I was always taught to study hard so that I could get into a prestigious school and land a well-paying, safe job through lots of luck, extreme dedication from my parents, and hard work, I was fortunate enough to attend an Ivy League School, work at a top management consulting firm, and now work at a venture capital firm. I’m so grateful for these opportunities and I’ve developed a passion for business and investing. However, two months ago, I was given a dream job as an assistant collegiate water polo coach. It’s a sport I know and love. I’m going to follow my heart and take the job. Most people think I’m crazy to leave the world of venture capital to go be a water polo coach. But I’m so inspired by your saying, lead a more interesting life. Stories from the Fool community, especially from the 100th Mailbag podcast, give me confidence that leading a more interesting life will not only be fun, but will also make me a better investor. Moreover, I recently stumbled upon an episode from April 2016 where you talked about the connection between sports and investing.
David, like you do so often, you gave me words to clearly explain something that I felt but could not articulate. You said that sports make us better investors because sports is an arena where you can execute a strategy and see an immediate outcome, allowing you to test and hone your strategies. It was what my heartfelt, Kevin writes, but my mouth could not say I needed this. Thank you. I admittedly still nervous about taking this huge pay cut and making this career change. I’m certainly still in the messy middle of proving myself as it collegiate sports coach. However, I know that you and the Fool community will be cheering me on, and that gives me a lot of confidence. Thank you David for giving me in countless others the boldness to pursue our dreams and to lead a more interesting life. Thank you for making a smarter, happier, and richer Fool-on and happy birthday. Well, thank you, Kevin. I often say, I save the best for last, but I also often say out the other side of my mouth, I love all my children. I love all my listeners. I love every one of the emails, the ones that got to read and ones I didn’t, and the points I got to share this week.
That was really special though. In conclusion, I’ll say, I appreciate that you are following your dreams. They think you’re crazy. Well, and if it’s just about the dollars, maybe you are but Kevin, I think you’re finding it’s not always just about the dollars. By the way, if it doesn’t work out for you, I think your outstanding background, your character, the lessons that you’re going to learn, suggest to me that you probably are an easy hire-back into the industry in which you’ve thrived. If it turns out not to work out, but your reflection about fatherhood is beautiful. I love, having been a father myself, it’s one of those things I’ll always wish I could have been better at. But also we’re all always feel still so fulfilled and happy and I hope you feel the same way. I love that you picked up some of my tips, especially the one about writing funny things downtime stamped, the gift that will keep on giving, I assure you. Finally, how Foolish of you to start that investing account for your son. This is one of the hugely valuable things we can do for others in life.
Get them started as early as possible, soon, now, yesterday, and pick investments for them that they’re going to understand and appreciate, and that will we hope, appreciate so I say, great job, Kevin Jong. Great job, dad. That’s it. I feel seen, it’s a very happy birthday. We’re at the end of this week’s podcasts and this year’s What You’ve Learned From Me with eight lessons that I’ve tried to underline an illustrative course with your stories, the anecdotes of others. So thanks to each of you who wrote in, especially if you did so, just to write in. If I couldn’t share it on this podcast, there’s not space and time for all such expressions. I so appreciate them. Here’s why. It is indeed I who selfishly and secretly get to learn from all of you every day, week, month, quarter, year. It has been an incredible journey here as I embark upon my 59th year, having turned 58 this week. The Motley Fool is now 30 plus years itself. I’m always looking ahead though. I couldn’t be more excited about the next 30 years or so for you. Dear listener for each of you, my fellow Fools and what we can do together. I hope you have a wonderful week. Happy birthday, Janet and to many of you to this month. Fool-on.
