Episode 48: Nancy Pelosi, The She Wolf Thug of Wall Street

The closer you've been following your equity investments recently, the jumpier you likely are. A lot of Americans have concluded that the Wall Street game may be rigged. The whole thing is kind of a scam, but there's still a huge amount of money tied up in it. Not just in individual investing, of course, but in pension funds. The whole world is tied up in the American stock market. So how exactly do you succeed in it as an individual? We thought the man to ask would be the man who's seen both sides of this business legitimate and less than Jordan Belfort, the Wolf of Wall Street, with a new book, the Wolf of Investing. And he joins us now to explain how you can make a fortune on Wall Street.

Can you make a fortune on Wall Street? You can, but it takes time, I think. Listen, the mistake that people make is that the average person is that when you don't have that much money to start, let's just choose a number. Let's say just $10,000, right? It's a random number, right? You say to yourself, if I'm going to really get anywhere as an investor, I need to make a big hit. I can turn that into like, a million bucks. I've got to find the next Apple computer, the next crazy crypto token, whatever, some wildly successful investment, right? Which leads you to engage in wild speculation, short term trading, trying to time the market. And the truth is the opposite. You don't need to start with a lot of money to end up with a lot of money by doing the exact opposite, which is holding for the long term in all the highest quality stocks, and in relying on long term compounding and reinvesting dividends, and making small contributions along the way, but forgetting, like you said, the noise. And people are worried about their equities. This is the problem, because as soon as you start buying into that, like, you know what, I think the market might be going down, or maybe it's going to go up next year.

Joe Biden? No, I think he's great at laundering money, though, honestly. Apparently, from what I've seen right now, I don't get it. Just imagine if it was Trump who was president every single day in the front page of the New York Times, the Washington Post and every other publication would be like, $40,000 check for $20,000 check from his brother. It'd be game over cries for impeachment. It'd be like the world falling down. He's in China's pocket. But it's like we're living in an alternative universe right now where people in power, especially on the left, right, can operate almost with impunity. And Pelosi is a perfect example. She's not the only one. But it's inconceivable that someone could have that higher return in the market when everyone else can't do it. So what's the edge? The edge is she knows key legislation and also maybe someone's whispering in her ear. Okay. Because they want to be on her good side. Right? So it's hard to prove, but it's just prima facie.