My name is Jordan Spence. I started investing maybe 3 to 5 years ago, maybe four or so, but I started with a very little sum of money, maybe around $1,000.
Thanks to Jeremy, of course, I just reached the six-figure club. So excited about that. It’s been a great year in the stock market, so it’s really hard to say it’s all my doing.
But for a profession, I’m an IT strategy consultant, I work with some of the top tech firms. And I advise them on helping their IT strategy enable their business strategy. So investing is my part-time job.
All right, another member of the financial fortress private group, Jordan, how are you? Not bad. How are you? I’m doing great, man, you know. Vancouver, native Canadian, Canadian at heart, I’m a Canadian, too, so, you know, good report there.
Well, you to tell the viewers a little bit about yourself and maybe like about your investing journey and how you came across Jeremy. Sure so, as Heidi said, my name is Jordan Spence. I started investing maybe 3, 2 five years ago, maybe four or so, but I started with a very little sum of money, maybe around $1,000. And thankfully, Thanks to Jeremy, of course, I just reached the six figure club.
So excited about that. Of course, it’s been a great year in the stock market, so it’s really hard to say it’s all my doing. But for a profession, I’m an IT strategy consultant, so I work with some of the top tech firms. And I advise them on helping their IT strategy enable their business strategy.
So investing is my part time job, Krisher. That’s great, and that’s amazing, and what was it kind of that drew you to the stock market to say, you know, it was a wealth creation method? So what drew me to the stock market was there’s a lot of people that I thought I could be more intelligent than in the stock market.
They’re making a lot of good money. And I figured, why not me? Why not give it a try? So I read I read all the books, read Jeremy’s book to start with. And then I went and I read Benjamin Graham, I read Peter Lynch. I read all the value investing books.
And I realized that although it was very interesting, I think it’s kind of an out did not. I will say value investing is outdated, but there’s more. There’s more to it now. There’s more about finding companies that are low value and tried to grow them over the time with the money. So I think that really helped me trying to figure out my own journey.
And Jeremy kind of follows the same approach with the modern value investing. Yeah, definitely that the value investing, it’s not outdated, but it’s definitely there’s a more forward looking and dictionary aspect to it now, so it’s kind of it gives it that added value where I guess maybe the older generation kind of has to act upon us a little bit.
But but it’s great that you mention that Jeremy kind of has that little vision to it. And I guess we’ll probably go into a later and both in the becoming mass of the stock market, of course. But and also, I think one thing, I actually missed my opportunity and Tesla early on because of how much value investing. I did.
So I really thought Tesla, a bubble emerging and a bit of this. So I had been wise enough. And looking for some other opportunities later on. But it’s a great point. You know what? You and I, you and I are in the same boat that I missed out on the Tesla as well.
But, hey, like, the stock market is like it’s like a bus station. You know, you miss the 8 o’clock in the afternoon will come soon. So I guess that’s the only good that we can look at then, you know, what was it. What was the what was the probable. Cause of your biggest struggle, like what was it or was it just the financials or was it kind of everything all at once?
They drove me into investing or what? What do you mean, sorry? Well well, the thing is, you started with such a small amount, which is incredible. First of all, in India, what was your biggest struggle to kind of overcome in the stock market when you first started as a newbie like you didn’t have a financial background?
From what I understood of your profession is right. Right, Yeah. OK, so the biggest thing for me to overcome, you’re right, I started with a very small sum of money. I only had $1,000 start and it was the time commitment.
Honestly, I think that’s going to be everybody’s biggest struggle. If it’s not your full time job, then you have to dedicate nights, weekends. You have to sacrifice time with friends to really understand that companies are investing in a while while, you know, I mean, how do you discuss that? Value investing may not be the total comprehensive look.
Warren Buffett is still right when he says you’re owning a piece of a company, you’re not owning a stock. So I think it’s completely true that you have to put time into understanding what you’re going to own. And that was my biggest struggle by far. Yeah, I know that’s true.
I mean, titanium is definitely like something that like we’re all going to have to struggle with. And like you said, if it’s not your main job, you’re going to have to sacrifice some things for it. And that’s the thing. It’s not it’s not a get rich quick scheme. It’s nothing of that sort.
You know, being in the private group will get you rich quicker and it’ll give you a vehicle to allow you to get there, which might seem quicker. But, hey, if you just knew the knowledge, you would have been the same thing.
But it’s just replace u with the knowledge absorption. So what was like so becoming the master, the stock market, if you go into the course itself, can you maybe elaborate a little bit about that? And how has it helped you?
Sure so going into the massive stock market really helped me look at figure out what metrics to look at from a value investment standpoint, starting to compute PE ratios, looking at total market capitalization, which to be honest, when you look at market cap, that’s probably the most relevant metric for a company.
Now, like when you look at it, it’s just more when it comes to this tech growth investing you’re looking at does this company is it really worth $30 billion or is it worth $300 billion or $300 billion in the future? So that’s honestly one of the only metrics that seems to apply at this time. It’s hard to use the other ones, but for me, that was the big takeaway that I got.
And while I learned how to figure that out from beginning the stock market or a massive the stock market group, it took me time to implement it. It took me a little bit, maybe two years afterwards to figure out that not everything is equally weighted.
You have to find your own approach. Yeah, and that’s the thing about how about the psychological game that it gave you, did it give you some sort of psychological edge when you were going through that? Because I know a good friend, from my understanding or my recollection of is the first like 20% of the course is not really technical.
It’s more of a how to approach the market from a psychological point. And from a buying perspective. Yes, so it made me feel like, I hate to say it, but it made me feel like a master once I got out of cause I felt like I really understood the stock market. But to be honest, I hadn’t made any money yet. So it took me some time of failing.
But really realizing that I still had the skills from the course of working with the group, following the YouTube channel and working with the resources on the team to then figure out, OK, I can be successful. I just have to learn from the past mistakes that I’ve made. I still have the tools. I just have to learn from it.
And how have you been able to avoid some mistakes that you probably would have made with, let’s say, the private group, the private chat room? We’ll talk a little bit about that to our investor. Sure, so the private chat room is great because it’s a sounding board. You can go in there with an idea, come in with like kind of like a well-rounded idea.
Don’t just come in there with like, what do you think of the stock, but give your thesis, your hypothesis when you enter the group about a stock and somebody. There’s somebody around the world will be willing to either shoot it down or affirm it. And that starts a real good connection with people. You start to actually go back and forth.
And have a discussion around it. And sometimes they’re wrong. Sometimes you’re wrong and you’ll find out that more and more people weigh in on it. And I found that it’s a great place to sound off your ideas. I love the man I love, I have to be either a ferment or shoot it down, and I think that’s probably the best part is the shooting down, because I would rather have my thesis be shot down by a Discord member than the stock market itself, bringing my money down.
To be honest with you, of course. And yeah, so and that’s the thing. You know, they’re very experienced people inside of there and maybe tell a story to tell us your experience of how maybe have you built connections inside the group where you’re able to now kind of bounce ideas off of other people much easier.
Sure so I really have to say, I was I was surprised at the level of stock market knowledge within the group, to be honest. Like, I kind of figured, you know, I’d have time to talk to Jerry. I mean, I could talk to some of the teammates, but there’s some people in there, like some of the seven figure people.
Some of the people who have been in there for years are very good. Like this could be their full time job or it is their full time job. And it’s not just a whole bunch of newbies trying to figure out their way. It’s a lot of people who want to learn.
And then it’s also a lot of people who are teachers. So I really like working with. I love going to the group and sounding off sometimes. Now it can get overwhelming at first because there’s so many different avenues you can go down.
And you can start to maybe lose your approach. But if you go in there with a structured idea, I think it’s great for actually making connections and getting to know people. Yeah, I think you mentioned it pretty well, it’s like they some of them, it’s not their full time job, but it could be their full time job just because, you know, when you’re in the market for so long, like a decade plus, you’ve been through crisis’s, you’ve been through the financial crisis, you gain experience that people like us.
let’s say on a newer basis, will, will, will, will absorb within a second just because it’s so much valuable knowledge. And and it helps you stay stoic and unemotional in times of turbulence. The market right now is going up like crazy.
And it’s just like, yes, I read days like once a blue moon. It’s something that’s not. But it’s not always like that. And that’s the thing people don’t understand, maybe especially new people that have come in now. And that’s probably.
The scariest part about it is that they don’t know what it is to be in a normal market yet, and I think eventually it’ll catch up and it’ll teach some people to humble. I’ve been humbled before the market before.
And it wasn’t pretty, but debt and. Yeah oh, sorry. I was just going to add it’s going to once the market turns because it is going to turn, it’s either going to go red or it’s going to start to go flat for a while to the company games.
You’re going to see a lot of attrition. People who are in this just to make a buck just, you know, they’re drafting style betting are going to start to leave either the group or they’re going to leave the investing in general. And then you’re going to see a good support group emerge. You’re going to see a core group of people that start to come together and talk to each other like, oh, don’t be so worried about it. It’s still a good long term play.
And I think that’s what you really got to find out who the true investors are, the long term investors, not just the flip a coin. Investors, I guess. Yeah, I love it because in my experience. And I’m sure maybe you have experienced some of it, is that the long term game, the game that Jeremy actually teaches in a fundamental basis, we’re looking at five, six, seven years from now, it’s where the wealth actually is created, like making a quick buck.
Now it’s like the faster the money comes in, the faster it can actually give you. The long term game is really where the wealth is, is generated to compound interest, really starts to kick in and play. And like you said, you know, you started with $1,000 but how much was the 90 thousand? What how much was getting from 9 to 100.
Much easier than it was from 1,000 to 5000, because just the margin of return to compound interest comes in. And once you have that fundamental knowledge and stock picking strategies and you the strategy doesn’t change as the account grows.
Right and if you learn that skill, it stays with you. And it’s crazy, because it’s like a snowball. It gets easier to rule it after it’s going in. It has some momentum. And that’s what it is with the accounts. And I think you’ll probably realize that soon. Once you get that account going a little bit more. And it’s just going to start rolling. Hopefully seven figures is on the way to. I wanted to kind of get into the subject of self investment.
I know you said you read you’ve read like all the books. Peter from Peter Lynch. Peter, this is great. You know, you’re really intelligent. So I have it here. I’m almost 10 years just I’m working through it hard reading now.
I have a financial background myself. Right and coming into this, I still saw this as a solid investment. What do you what’s your take on that in terms of self investing before investing in the market? If you don’t self invest, if you don’t build the foundation of how you’re going to build your knowledge of the market, once you get hit with a bad market, you’re going to completely crumble.
It’s a house of cards because you haven’t invested yourself to have the confidence or the skills to be able to actually make something. Anybody can make money in the market because it’s kind of the flip of a coin whether or not.
It goes up every day. But if you have to invest in yourself to begin with, it’s not a long term strategy. You’re just basically gambling to a degree. So it is important to figure out your own strategy, to read books, to follow the right mentors, understand a good approach, bounce ideas off of people like really try to establish your knowledge base before.
And it’s funny, because I had an MBA, I have an MBA, I speak to ceos, CEOs all the time for work. But I didn’t have a stock like I thought I was very intelligent when I came into the market. But it doesn’t matter if you don’t have the right approach.
And you don’t understand when to get in. It doesn’t matter what you believe, you can still get woken up very quickly. Oh, Yeah. I mean, I was I was in a like I was in a financial landscape, like, I’m an accountant. I mean, you know, I was all about financials and everything. And I thought, I do it all. And, you know, I got humbled pretty quickly my first my first year.
So, like, it’s not all about that. There’s so much more to it, and there’s so much more that you need to learn before you even get going. Did you can get hurt and think, what would you advise someone that’s in the.
You know, your situation was pretty, you know, it was pretty it was pretty good, like having just $1,000 starting into the market, what would you advise somebody that’s kind of more concerned of putting money into their account rather than going and learning?
Know piggybacks off the last question there, but if you had a dear friend, you can’t advise them either joining the private group or continuing to do it on your own. What would you advise them and why? So joining the private group is very helpful, like I said, for building your knowledge base, for making those connections that can help support you as you go through your journey.
So I think that’s something that you have to do to contribute to your actual let’s call it that foundation, that that learning foundation that you have to build. But if you only have $1,000 like I did the way that I thought there was dollar cost averaging, you know, Jeremy has a great approach where he likes to find a stock at a good price and make a real good entry point like a stakeholder where he’ll start to build a good portion.
And then have more over time. Surgery to treat leukemia toward. To give me one good. And that’s what I saw because it was just I. And I’ll let you know when it kicks back, I think. It might be for me, all right. Yeah, yeah, so like I was saying, if you have $1,000 invested in the group, very helpful to build your foundation, your knowledge base.
That’s very important as you continue to go. But with $1,000 don’t think that all you have is $1,000 to invest. Pick a few companies you like, you know, one or two. And then start to move forward. Those low dollar cost, average bring every month, put a little bit of money, a little portion of your paycheck into the stocks that you like.
And it builds over time. Warren Buffett said it again, I hate to say it, but I mean, the most powerful force. And beautiful. I think I sense that the most powerful force in the universe is compound interest. So slow, slow growth is still very steady, strong growth over the long term. And it’s I mean, the $1,000 to the place to start.
It is what it is. I think that you can’t make those giant stakes. You can make huge gains, but you’ve got to start somewhere. And then you can rapidly scale from there. That’s just beautiful to hear. You know, I would love to see a chart of that 1,000 to 100 because 100K because that would look at some of the incredible. Just because you.
He lost. Losing you again, can’t hear you. Shupe at. And Stuart. I completely shut down. I can hear you shoot. Here we go. At you there. Here we go. Yeah, we were having some technical difficulties there. I was just going to say, well, what I was going to do was I was going to wrap it up anyways because we covered a lot of great points.
I want to maybe a couple of words for you. If you have anything else that you will not cover, that you feel like you want to say, and then, you know, we’ll let you go. So, yeah, there is something I do want to mention.
So one of the keys that I found that is not I mean, I haven’t seen it in the group yet, but also because of the nature of my work, because I’m an IT strategy consultant. Obviously, tech growth, tech stocks are growing very quickly.
We’re seeing a lot of new innovative industries emerging, especially around cannabis, around genomics eventually or genomics eventually. So what I’ve started to do is I kind of mapped out what are the core industries, one of the really big growth areas. And I found a company that I love in every single growth area.
Some of them. I haven’t found yet. I have, you know, obviously cryptocurrency watching theory. Those two are great or I’m sorry, Bitcoin in theory and are great. But look at things that people aren’t thinking about as well. Like look at porn, actually watching company look for a company like around AI for unstructured data.
I found Palant here and I bought them at 10 bucks and it’s been a pretty good ride. So far. We’ll see if it continues. But try to make your own perspective on your places. You want to invest in the market, don’t just follow everybody or else eventually you will get caught on the tail end and you won’t make the gains you could have by yourself.
So have your own perspective, but work with your teammates in the group to figure it out. Now, I think that’s perfect. Honestly, make your own decisions, but use other people’s knowledge to help you do that, right. And that’s the best way to do that.
Jordan, I thank you so much for being here. I know we took your busy guy, so we took a little bit of your time, but hopefully everything goes well. And hopefully you’re in the seventh figures, Sumant. Yeah, sure. So I’ll let you know what I do, don’t worry about it, beautiful man. All right.