Fire in The BellyTrust, Failure and Finance - Interview with Andrew Stotz
In this episode, Pete speaks to business owner, coach and teacher Andrew Stotz. Andrew currently lives and works in Bangkok in Thailand with his two companies that he co-owns. He is crazy about finance and he has a CFA designation and then got a PHD in finance at the age of 50. He loves reading and learning and that is why he is where he is today. He also runs a podcast called ‘my worst investment ever’ where he talks to people about their stories and learnings as well as sharing his own journey.
KEY TAKEAWAYS
- Andrew grew up in Ohio in the USA. By his late teens he had survived multiple suicide attempts and went into rehab. He has now been sober since 1982, this defined him from the age of 17.
- If you quit a lot it will take you away from the things that don’t serve or work for you and towards the things that work. That’s the story of Andrew’s life.
- Andrew is an analyst at heart, not just in finance but in all aspects of his life. It colours his world and it’s how he interprets, makes decisions and sees everything.
- Andrew recognises that for him numbers are simply a tool. They are a thing he uses to structure arguments and meaning.
- Anyone can learn financing and numbers but what sets people apart are their ethics. How you communicate, demonstrate trustworthiness and confidentiality are just some of the ways your ethics can stand you apart from others and add value.
- There are a lot of formulas, calculations and such in the finance world, when learning it can make you feel like there is a lot of certainty. But Andrew likes to remind his students and others that these are all just hypotheses and in the real world nothing is certain and they might not solve your problems.
- Taking complex things and simplifying them is one of the things Andrew loves to do. He acknowledges that some things are incredibly difficult to understand and break down and never gets frustrated with those who do not understand finance. When it comes to finance you cannot skip a step, this is often where confusion is born.
- Andrew describes his business experience as being ‘forged in the fire of failure’. It’s one of the many reasons he started his podcast. He believes you can learn so much more from when things have gone wrong and mistakes, not just your own but others too. Unfortunately, not everyone is comfortable being so vulnerable and open about their failures so he often gets refusals when asking guests to come on.
- The reason so many people fail in business and investment is because they don't do enough research and they fail to properly assess and manage risk.
BEST MOMENTS
“I just haven’t stopped running since then”
“There’s a lot of people who don’t want to reveal their mistakes”
“The best hooks are emotional”
“Trust is valuable”
“Only do what only you can do”
VALUABLE RESOURCES
Subscribe to Fire In The Belly Podcast on Apple Podcasts (https://podcasts.apple.com/us/podcast/fire-in-the-belly/id1499375061)
ABOUT THE GUEST
Andrew Stotz
Andrew Stotz, PhD, CFA is the CEO of A. Stotz Investment Research, a company that provides institutional and high net worth investors with ready-to-invest stock portfolios that aim to beat the benchmark through superior stock selection.
Email
Twitter
Websites
- net (CLICK Become a Better Investor)
- co.th (Get Great Coffee HERE)
- astotz.com/ (CLICK to learn finance)
ABOUT THE HOST
The ‘Mighty Pete Lonton’ from the ‘Mighty 247’ company is your main host of ‘Fire In The Belly’.
Pete is an Entrepreneur, Mentor, Coach, Property Investor, and father of 3 beautiful girls. Pete’s background is in Project Management and Property, but his true passion is the ‘Fire in The Belly’ project itself. His mission is to help others find their potential and become the mightiest version of themselves. Pete openly talks about losing both of his parents, suffering periods of depression, business downturn and burn-out, and ultimately his years spent not stoking ‘Fire In the Belly’. In 2017, at 37 years of age that changed, and he is now on a journey of learning, growing, accepting, and inspiring others.
Pete can connect with people and intuitively asks questions to reveal a person’s passion and discover how to live their mightiest life. The true power of ‘Fire In The Belly’ is the Q&A’s - Questions and Actions!
The ‘Fire In The Belly’ brand and the programme is rapidly expanding into podcasts, seminars, talks, business workshops, development course, and rapid results mentoring.
CONTACT METHOD
https://www.facebook.com/mightypetelonton/
