Tucker Carlson - Ep. 58 How did a not very bright thug like Nancy Pelosi get rich in the stock market? Because the system is rigged. Jordan Belfort, The Wolf of Wall Street, explains.
Jordan Belfort exposes how Wall Street’s rigged system lets figures like Nancy Pelosi profit from insider advantages, dismissing active trading as a "carnival-barking-ass clown" show. He slams hedge funds’ high fees and mutual fund underperformance, advocating instead for low-cost S&P 500 index funds with compounded dividends—proving long-term discipline beats short-term speculation. Belfort’s own fraud-to-recovery arc underscores systemic corruption, from SEC capture to Sam Bankman-Fried’s looming 20-year prison sentence, framing finance as a casino where only insiders win. The takeaway? Passive investing is the only fair play in a game stacked against ordinary investors. [Automatically generated summary]
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.
Listen, the mistake that people make, the average person, is that 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.
To turn that into like a million bucks, I've got to find the next Apple computer, the next crazy crypto token, 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, 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 and all the highest quality stocks and 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.
You just have to time that by buying and selling, you create taxable events.
And also, human beings, by our nature, we're kind of crappy stock pickers.
And when you try to pick individual stocks, you tend to lose most of the time.
I'm going to give you my investment strategy, and I'm going to be as honest as I can be, and you assess it based on your expertise and tell me if I'm right or wrong.
So I'll get down to my rec room, big screen TV, with my dab pen and my laptop, and I'll turn on Jim Cramer on CNBC. And when he tells me to buy, I buy.
So Warren Buffett asked this exact question back in 2007, made a big announcement, bet a million bucks.
That, I don't care, whatever hedge fund you want, you can't beat the S&P 500 over 10 years.
And at first, no one took the bet.
Eventually, someone did with what's called a fund of funds.
It was 100 different funds, right?
And after year seven, they threw in the towel.
They couldn't even come close to the S&P. And that was without all their fees.
And just so you know, the fees they take, so it's 20% typically is a performance bonus, right?
If the fund makes money, off the upside.
On the upside.
But if the fund loses money the following year...
They don't get any of the losses.
So it's heads they win, tails you lose, right?
The mutual fund industry is equally bad.
So they're engaging in, you know, basically asset gathering.
Because what they do is they try to gather as many assets as possible.
Money, right?
Because they get their management fees.
But the returns on the average mutual fund are dismal.
They don't keep up with the S&P 500, which is America's 500 biggest, baddest, most profitable companies.
And those 500 companies change.
So the S&P this year is not the same as it was last year.
So what happens when you buy that index as the centerpiece of your investments, right, and just hold it, you're always having the 500 top high-performing companies in your portfolio.
It's very tax-efficient.
Now, it's boring, but it compounds at about 11% a year.
And guess what?
If you invest $10,000, right, and just compounds at 11% a year, you put a little extra money in whenever you can each month or each quarter, right?
Over 30 years, 40 years, it turns into millions of dollars.
Well, for a time, it was like, you know, everyone thought, oh my God, they're so great, the hedge fund.
So for many in the 90s and 2000s, like the word was really like this mystique that you had these really high performing hedge funds.
And there were a few.
There are a few people that actually can beat the market.
Ray Dalio is one who's done it consistently.
He's not taking your money.
When they're really that good, they don't take an average investor's money.
They train their own money in a few very, very large institutions.
So those funds are not open to the average investor.
But then all the other hedge funders kind of suck, right?
They're bathing in the afterglow of the aura of the hedge fund manager that we see on billions, right?
See this mystical hedge fund?
Well, guess what?
Most of these guys suck.
All right?
They're not beating the S&P. They're just not.
It's historically proven.
They don't beat the S&P. And they take these massive fees when they do win one year, and they always get that 2% management.
So watch what happens.
Let's say you're managing a billion dollars.
So before you even start, it's $20 million a year you're getting.
Before it even starts, plus 20% of all the profits.
And when you take those, and how about this?
I'll go one step further.
And also, when you have a hedge fund, you have to show activity.
Because you can't just buy the S&P and hold it.
Someone will say, well, why would I give you my money?
You're not doing anything.
So they almost have to show activity to justify their existence, which makes them engage in short-term trading.
And human beings are just terrible market timers.
And this is just proven over 100 plus years of studies that you cannot trade in and out of the stock market, buying, selling, selling, buying, this sector one day.
So it's just a trap.
The way I look at it is this.
So Wall Street, It creates massive value.
They do.
Wall Street's necessary.
You can hate Wall Street, despise them for what things they do wrong, but Wall Street is necessary.
They create massive value for the economy.
They take companies public, right?
They finance the growth of America.
It's needed.
They maintain the debt markets, the credit markets.
That's the useful side of Wall Street, where they create massive value.
Then there's the not-so-useful, the dark side of Wall Street, where they create bubble after bubble after bubble, where they're...
Instruments of financial mass destruction they create for just gambling purposes, where they churn you, they have excess commissions and fees and rob the public blind.
So the question in the book was, you know, how does the average person get the maximum exposure to the good side of Wall Street, which is the great companies they take public and finance that become huge multinational.
So how do you maximize that, but avoid the corruption?
All the churning and the burning and the financial bubbles and so forth, and play into what I call the Wall Street theme machine complex, which is this advertising monolith where basically they convince you, people like Kramer, to play the sucker's game.
Actively, if you go on CNBC, they're all day long trying to convince people to play the short-term trading game, which is indeed a sucker's game.
So you go into a casino, right?
We spoke about Kerry Packer, gambling, right?
So they own casinos, the Packer family, right?
So in a casino, you go in there knowing that the odds are against you by, what, 5%, depending on what game you play.
So the odds are against you and the house will win over time, right?
That's a legit casino.
The odds are against you.
But what if you go into a corrupt casino where they have loaded dice and a dealing from the bottom of the deck?
That's Wall Street.
So now not only are the odds against you because, you know, it's hard to pick winning stocks, but there's people who have information that's more timely than you.
They're trading ahead of you.
They are charging excess fees.
And also, all these publications and new chatting in news with CNBC, Bloomberg isn't as bad, right?
Because they cater mostly to professionals.
But still, trying to convince people that, you know, you could somehow figure out when you should buy oil and then sell your meta and then somehow go into a steel stock and then go into overseas.
Well, thankfully, he successfully lost a lot of money, and then he learned his lesson, and I showed him what to do the right way, and now he's building a proper portfolio for the long term.
So I think the distinction is this.
You can get rich in the stock market, but not overnight.
It doesn't work.
You can't do that.
And if you try to get rich by engaging in short-term trading or picking, like, one stock, you're probably going to end up in the financial poorhouse.
So, the solution I put in this book, which is ironic of where I came from, right?
Because I committed fraud 30 years ago, right?
So, as you said, I've seen both sides, right?
So, the solution in the book is, it's really very simple to build a world-class portfolio and secure your future.
Because I don't think you can rely on Social Security these days.
It'll be enough to pay for your diapers when you're in a nursing home every time you get it, right?
So, this is about, you know, empowering yourself financially, and it's about doing less versus more.
This is like a top one, a Nobel Prize, the guy for this, right?
So that was really the beginning.
That was like the shot across the bow.
Now Wall Street did everything they could to suppress this.
So the first guy to try this was Jack Bogle from Vanguard.
You know, Vanguard, right?
So Vanguard's a great place where you can buy the best index funds with virtually no expenses.
I strongly recommend Vanguard, right?
And there's a few others as well, but Jack Bogle was the first, right?
But when he started Vanguard, Wall Street went out on the ultimate smear campaign for like a decade, suppressing everything about index funds, saying it's the stupidest thing.
Who wants to be average?
Dreyfus, which is a huge mutual company, said...
No fees?
No way.
Like, actually, in public, in the Wall Street chart, a full page, it's like, if you don't, like, that was marketed to the people who were the gatekeepers to investors.
So if they're not, because Vanguard doesn't pay fees, right?
So if they don't pay you fees, don't put your clients in their funds.
Instead, put them in our high-commissioned funds, we'll pay you a lot of money.
So for many, many years, Vanguard languished and was suppressed, right?
It finally got traction after the crash in 87. For the first time, all of a sudden, you know, the mirage evaporated when everyone lost a lot of money.
And for the first time, Vanguard started to get a fair shake in the market.
And then slowly but surely, they started to grow and grow.
And then as the internet came about and the high-speed connections and platforms for direct communications with customers, it suddenly became a mass exodus out of these, you know, sort of high-expense mutual funds.
Right, which I think that Bogle saved the public probably a few hundred billion by now in fees.
Mutual funds were ripping people's eyeballs out forever.
Now, they still do crappy.
Their performance is crappy compared to the S&P 500. But for years and years, they're just ripping the public's eyeballs.
That was the most lucrative industry out there.
And Wall Street just spent, you know, countless hundreds of millions on advertising campaigns and whatnot, right, to make people think this is the way to go.
So your Merrill Lynch is bullish on those commercials, bullish on America, right?
Although, you know, T. Rowe Price, and I want to point the thing at any one of them, right?
But now they all offer this ultra low cost index options, which historically has outperformed people trying to pick individual stocks forever.
It just outperforms people because people are really crappy at picking stocks.
And also, You know, there's another part to it as well, right?
Just trying to time the market.
It plays into all our worst impulses.
So like you said, right now, people are scared, right?
And rightfully so.
The world seems to be on fire.
And I watch your podcast all the time and it scares me.
It's a scary world, right?
So you would think that, okay, the U.S. economy is laden with debt, right?
Which is true, right?
It's got fundamental problems.
China is going to take over the world, right?
Well, when I was, you know, just getting started, it was Japan taking over the world.
Which turned to be a fallacy and they had their own problems.
So I don't know whether China is going to take over, be the biggest economy, it's going to surpass the United States.
I don't know if the stock market is going to go up, down, sideways, or around circles for the next five years.
I mean, you don't know.
Anyone who tells you they know that is lying to you.
So to sit there and try to watch the news and trade against what's happening in the economy and what's happening in the world is a fool's errand.
You're not going to succeed like that, unless you're one of these rare individuals who's full-time as this unique gift.
But then again, though, look at all these massive companies that have been created in the last 20 years, like Google, Meta, right?
These huge companies, Nvidia with artificial intelligence.
So how do you get exposure to all that without having to pick the winners from the losers?
The answer is very simple.
You buy them all in one investment.
Which is the S&P 500. And then you sit back and let time do the heavy lifting for you.
If you watch Jim Cramer for entertainment, if you like that kind of bloviating humor, good for you, right?
I personally don't like it.
The worst, even worse than that is if you watch Jim Cramer and you happen to opt in, like if you want to answer one of the emails on the website, they'll start barraging you with emails.
I did this as an experiment.
I was like, you know, a guy that injects up with the virus to see how sick you get, right?
I actually opted into Kramer's, you know, little thing online.
And I started receiving a barrage of like 100 emails about, join his special club who'll alert you to what stocks are going up and down in real time.
I mean, it's like, this is insanity, but this is a major network, right?
That's, you know, giving investors crappy advice.
Now, on the flip side, here's the weird part.
They also have good stuff on that network, like there's legitimate news.
And that's the problem.
So they mix in legitimate news, great reporting, interviews with great CEOs, and you learn about the economy, what's going on in the world.
But they intersperse that with like this market giving advice.
And it's nonsense.
People can't beat the market.
And I saw it play out with my brother-in-law, many of my friends back in when the bubble burst in 2008, and even worse, by the way, in 2000 with a dot-com bust, right?
And all of a sudden people thought they were expert day traders or expert market timers.
They were like basking in the globe, just an up market.
Like I say in the book, a rising tide lifts all ships, right?
And a falling tide, well, it lowers all ships, right?
So you see the truth come out, as Warren Buffett says, you know, until the tide goes out, you don't know who has no clothes on, who's swimming naked, right?
There's like the full-on criminal stuff like you saw in the movie Wall Street with Gordon Gekko, right?
Where like people are actually paying people and moles and stuff like that to get, you know, information that's not public, paying off directors, having inside...
Links to the company or law firms that are doing deals, right?
That happens for sure.
And people do get in trouble from time to time and go to jail, right?
You know, it's hard to say, but she's famous and she's a big target.
And, you know, it kind of sucks when you're famous in a big target and they want to come get you, right?
Especially if some of your views aren't that popular.
They want to come after you, right?
So, but that's sort of the cliched type of insider trading where they're just literally buying and getting moles and that's highly illegal.
Then there's the softer side of it, which is where these big hedge funds have these like analytical firms that are getting like research that's inside research.
So like, for example, they're like, I had a friend who was a very big short seller.
And he actually had people waiting outside of a warehouse counting the number of trucks that were leaving the warehouse and tried to like you get it to see how they really shipping the amount of goods to do is deep type of research, which sometimes crosses over into inside information.
From the beginning, it was set up with a two-tiered system where the big firms basically were protected.
And when they got in trouble, they did things so egregious that it was undeniably egregious, they'd pay a small fine and move on.
Right?
Which is one like Goldman Sachs, for example, right?
Now, Goldman Sachs serves a vital function to the US economy, and they're also behind every great crime or the biggest crimes that are out there, including my movie.
That was, you know, The Wolf of Wall Street was financed by these Malaysians, right?
The 1MDB fund, that scandal, that was just coincidentally.
And who was the banker that paved the way for that?
Goldman Sachs.
Out of there, I think it was the Malaysia or Singapore office, a banker there that provided the funding and, you know, got...
Double or triple the normal fees for doing it.
And that money got siphoned off.
That's classic Wall Street.
So on one hand, they create massive value.
On the other hand, they rape and pillage the village.
And it's the average investor and the average person that bears the brunt of that.
Well, again, if someone gives you an overall sense of what's going on, that's like nothing that's not out in the public domain, but it's sort of like an insider's perspective versus information on like, Are sales going down?
Is there a problem with manufacturing that's not public, right?
So that's when it crosses over the line and it's a gray area, right?
But it's very common in hedge funds to use these research firms that go out there and get non-public information.
And there's a very fine line like a drug trial.
If there's a drug trial going on, like, you know, how do you know how the drug trial is performing?
Well, if you imagine calling up all the people or interviewing people that are in the drug trial and trying to figure out yourself or people are intimately involved with administering.
The placebo studies, the double-blind studies, they're all over that stuff.
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 a $20,000 check from his brother.
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's a perfect example.
She's not the only one.
But it's inconceivable that someone could have that high return on the mark when everyone else can't do it.
So what's the edge?
The edge is she knows key legislation.
And also, you know, maybe someone's whispering in her ear.
Okay?
Because, you know, they want to be on our good side, right?
So if what you're saying is true, and that is that the most sophisticated people in the world can't beat the S&P average, then any member of Congress, and I think they are, on average, dumber than the population.
I pick up this book and I'm like, oh my God, I want to write like this.
So I plowed through the book and then I started with the yellow highlighter and I used this book like a textbook and I taught myself to write by modeling Tom Wolfe.
So it's like I had a model now, and I spent about three months, just every, I mean, every metaphor, how he used grammar, how he described locations, how he used conflict, and I really started to see my writing dramatically improve.
So I wrote about 100 pages when I was in jail, and then I ripped them up.
I didn't think they were good enough.
I got out of jail with no pages, but I had a skill now, right?
So when I got out, I was like, you know, I don't know what to do with my life, and I was like, maybe I'll just start trying to write again, right?
So I wrote about 12 pages, and I'm like...
Wow, I think those are really good.
I thought they were pretty good.
I hate my own writing always, right?
It's like when you write, it's very, like you always hate what you write, right?
So I'm like, I think this is pretty good.
I sent them to a few friends and they're like laughing, like, oh my God, it's the funny.
I'm like, really?
So I sent it to a book agent.
I knew very casually, just a casual friend, right?
So I called and said, I want to, you know, write a book.
He goes, oh great, let's get you a ghost writer.
I said, well, I want to write myself.
He goes, can you write?
I'm like, I'll send you the pages.
I sent him 12 pages.
Next day, he calls me back.
He goes, did you pay Tom Wolfe to write those pages?
It was like that close to Tom Wolfe's voice, my first draft, right?
I'm like, no, no, I wrote it myself.
He's like, it's really good.
He goes like, write 10 more pages.
So I said, all right.
So it took about a week to write 10 more pages.
I wrote another 10 pages.
I sent him the pages.
15 minutes later he calls.
He goes, stop everything you're doing.
You have no idea what's about to happen to your life.
This book is going to be a master hit.
Master hit.
I'm going to get a movie made about this.
We're going to get Leo DiCaprio to play you, right?
I mean, right from the start.
I was like, I thought he was delusional, right?
But I didn't have much going on back then, right?
So I was like, screw it.
So I holed up and literally I had a little tiny apartment and I spent one year just like doing 18 hours a day writing the book, The Wolf of Wall Street, right?
About on page 60, he took it down to Random House who bought the book.
I got a nice advance so I could at least live, right?
And then when the book was finished about a year later, it went through seven edits because I overrode it.
Got it from a thousand pages down to 500 pages.
And then, when it was still a manuscript, it became a bidding war between Brad Pitt and Leo DiCaprio.
So when I got really wealthy, they made them illegal in the United States.
But in Switzerland and Italy and Spain, we were going country to country.
And like buying out the pharmacies of all the ludes from overseas and bringing them back into the United States, just not to sell them, just to take them, just to eat them all.
We weren't dealing, just consuming massive quantities of these quaaludes, right?
And I got so wildly, I was taking about 10, 12 a day.
And like one of them would knock out a 200 pound Navy SEAL for eight hours.
So I know I was very happy to stop using drugs, right?
So that was in 97. I had a problem in 2008. Nine, where I had some terrible run of like five surgeries in this shoulder and five soldiers in this shoulder.
I had really bad back, the whole thing.
So I was taking Vicodin from the doctor, from the doctor, right?
And then I got off of that and went on something called Suboxone.
Everyone's taking OxyContin and Percodan and Percocet and Vicodin and all these, right?
And they're giving them out like they're candy all over the place, right?
So there's this massive opioid crisis, right?
When they realized that especially OxyContin and fentanyl was so addictive and people were dying, they said, oh, we have to have a solution.
So they...
Put people on something called Suboxone.
Suboxone is what they call a partial opioid agonist, meaning it binds to similar receptors, but it doesn't really get you high, and it's very hard to overdose on it.
So it's much more long-acting, and you could be on it and no one knows you're on it, but in your mouth, maybe you're a little bit drier and so forth, you're a little bit tired at night.
But generally speaking, if you're really careful, then you can live on that.
You know, some people, I think, have more of a spiritual journey because it's great for PTSD as well, like for veterans, right?
So right now they're trying to fund studies for veterans.
It's very helpful with PTSD, right?
I didn't...
I think it made that many changes in me.
I was in a pretty good place when I went in there.
I just literally had a physical, like a physical addiction that if I didn't take this stupid drug, I'd get uncomfortable and I didn't want to have that.
Like I'm traveling all the time, right?
So for me, you know, I didn't feel like I made any profound changes other than that, you know, for the first 45 days, I had to learn to be like completely sober again.
So even though I had no physical withdrawals, I had some post-acute, like mental, I just didn't feel great.
But then after like 45 days and suddenly all the clouds lifted and I, you know, felt terrific again.
So it was an amazing gift that I gave myself.
And I would strongly recommend this to anybody who's suffering from, you know, opioid addiction right now.
But I mean, I wasn't even, the thing was, I wasn't using Suboxone to get high.
It was just a maintenance thing because I got addicted to these damn painkillers after my surgeries, right?
So I was using it at a dose.
It wasn't like I was trying to get high.
So I guess if someone was like reluctantly put on Suboxone because they were like a drug act and it was, you know, they just had to because their life was so out of control, I guess they'd have to probably work through some therapy as well afterwards.
But, you know, I think it's really helpful for that too.
In other words, some people that go through Ibogaine, when they emerge, they're like, they get this new...
Perspective on their life.
Why would I ever want to use opioids again?
It's disgusting and terrible.
But it is incredibly powerful.
It's no joke.
It is no joke.
I've tried ketamine.
It's a great thing to use ketamine now to expand your brain.
I've tried other hallucinogens.
I've tried mushrooms.
Ibogaine is in a class of itself.
No one would ever abuse Ibogaine.
You're not doing Ibogaine.
Let's have a fun trip on Ibogaine.
It's like, no.
It's like, let's go to the crazy house and hold off and be alive for 12 hours and then all your addictions are gone.
So since 2009, I've been out there coaching and mentoring entrepreneurs on how to build businesses and how to do sales and increase their marketing capabilities, right?
And I never talked about Wall Street.
Never.
Like, I never wrote a book and that was really my core competency, right?
And what really made me do, honestly, was my brother-in-law, when I kind of just saw him, like, just getting whipsawed, I'm like, you know what?
There's two sides to, I think, to retiring and being wealthy or at least comfortable.
One is you want to make money when you're in your working years, right?
We all have to do that and you want to make as much money as you can, hopefully doing something you like.
That's part of the equation, right?
The next part is what do you do with the money that you can save from all the hard work?
How do you put that money?
To work in a very safe, responsible way that's going to outpace inflation significantly, that's going to compound and allow you, when you're ready to retire, have an amazing life.
I believe that people deserve that.
So I look at this book as a gift.
If you read this book, really, it's like a blueprint, and it's really simple.
It's not that complicated.
But I knew that if I wrote the book in a dry way, People would not read it.
So I wrote in a very funny story, so it would be really engaging.
But as you go through that, you get this, what I consider to be a turnkey formula for a portfolio.
So just imagine everybody is trying to do the same thing.
What's the next winner?
What's the big winner, right?
So all the money is chasing after this pool of shares, right?
So the question is, you know, at any given moment, you know, the way economists say is that the market is fairly priced in this moment based on all the available information that's out there.
This is what every single individual stock is worth, right?
Now, over time, right, when you buy the S&P, now remember, the S&P 500. It's the 500 biggest, most profitable companies in the U.S. They're in 10 different sectors.
But the S&P, the Index Committee, every quarter will meet and say, okay, based on the U.S. economy, is the weighting of each sector correct?
Do we have enough in information stocks?
Do we have enough in industrials?
How about healthcare, right?
So if you go back like 30 years, industrials are one of the biggest sectors out there.
But then we exported our manufacturing base to China, right?
And suddenly the financials become really big and also especially computers and information and healthcare.
So the biggest ones are now healthcare and computers information technology.
Those are your biggest sectors.
So what happens is the S&P will reweight itself every quarter to match the U.S. economy and any of the companies that are either underperforming, right, or becoming less relevant to their sector will be replaced by companies that are doing better and are more relevant.
So you have them.
At any given moment, the 500 best companies, all done for you, for free, by the S&P Index Committee, who's selling that information, making money in a different way.
They don't make the money.
You can't invest in the S&P Index because it's an index.
You need a fund.
So there's a very big difference.
When the S&P first came out, you could only watch it.
There was no way to invest in it.
It was like a benchmark.
How am I doing compared to the S&P? You couldn't buy it.
You'd have to go out and buy each.
Of the 500 stocks, which is cost prohibitive and not, you know, you could just time prohibitive as well, right?
So when the first S&P 500 index fund came along, it allowed people for the first time ever to buy all 500 companies in one trade, right?
Which is incredibly tax efficient and time efficient.
Now, what else happens?
Once a company goes into the S&P, all the institutions have to buy it.
So there's almost a self-fulfilling prophecy part of it as well, right?
So if you have information, Like inside information, you're one of those rare people that can somehow, like one in 10 million people, that can somehow figure out which stocks are going up, we're going to beat the S&P. God bless you.
Right?
But my chance to everyone listening is that's not you.
And then add to it a little bit each month, whenever you can, as much as you can.
And then also reinvest your dividends.
So when you get quarterly dividends, because the S&P pays a dividend, reinvest those as well.
And just forget it.
Don't worry about what's going on in the world.
Like you say, the U.S. economy is going to go to shit, okay?
Maybe it will, maybe it won't, who knows.
But here's the deal.
No matter how shitty the US economy gets, you're still going to have really big companies out there that are raping and pillaging, making a fortune out there.