CASEY STUBBS | From Trading Strategy Guides
CASEY STUBBS | From Trading Strategy Guides
Casey Stubbs is best known for helping people to earn income from actively trading the market. But he's also a believer in putting wealth into longer term investments that will grow steadily over the long-term.
Look at the market and know that there's an opportunity for everyone. Anybody can do it. and if doesn matter how much money you, just start, you're gonna get smarter, you're gonna get better. You're gonna have some windfall money, you're gonna maybe get a raise Just stay at it consistently. And as you do that, it's gonna work out. You're gonna start making some ground.
Casey Stubbs shared an inspiring story about his early experiences with the stock market. As a young soldier in the US Army, he seized the opportunity to invest his earnings. By the time he completed his service, Casey had accumulated over $30,000 in wealth through market appreciation alone—an exceptional start to his investment journey.
The episode delves into the significance of long-term stock holdings in building wealth. Casey offers insights into why holding stocks for the long term can be transformative for investors.
According to Casey Stubbs, long-term investing is a game-changer because it allows investments to grow and compound over time. He emphasizes that anyone, regardless of their initial capital, can begin investing. The key is consistency. By adhering to an investment strategy and continuously learning, individuals can steadily increase their wealth. Long-term investing isn't a quick path to riches; rather, it's a reliable approach to achieving financial stability and security.
Casey Stubbs is a seasoned professional in the trading world, known for his diverse contributions to the industry. He hosts the widely followed podcast, "How To Trade It," where he generously shares his extensive insights and expertise in trading. Alongside his podcast, Casey founded TradingStrategyGuides.com, a platform offering an array of trading strategies and resources to assist traders of all skill levels.
With more than two decades of experience in the field, Casey brings a wealth of knowledge to his audience. His podcast and website are well-respected sources of information, providing valuable resources for traders looking to improve their skills and navigate the complexities of financial markets.
Beyond his trading career, Casey Stubbs is a dedicated 9 ½-year United States Army Veteran and a devoted father of nine. He plays a significant role in his local community as a leader in his local church. Casey's journey from financial hardship to building a successful seven-figure trading education business is inspiring. He openly shares his failures, believing they are essential for personal growth and character development.
Casey's mission centers on helping individuals from all walks of life achieve their financial goals and attain financial freedom. His commitment to assisting others drives him daily. In January 2009, Casey launched his first trading venture, Winner's Edge Trading, which achieved substantial revenue. Since then, he has established multiple brands, including Trading Strategy Guides, Learn To Trade For Profit, and his informative podcast, How To Trade It.
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So great to be able to look at the market and know that there's an opportunity for everyone. if doesn't matter, who It is, anybody can do it. and if doesn matter how much money you have just start, you're gonna get smarter, you're gonna get better. You're gonna have some windfall money, you're gonna maybe get a raise You know. Just stay at it consistently. And as you do that, it's gonna work out. You're gonna start to see you making some ground
Hi and welcome back to Stocks for Beginners. I'm Phil Muscatello. How can you Investors find Stocks to hold for the long term? What's passive income and how can it help you to build your wealth? Joining me today is returning guest and old, old friend of the podcast, Casey Stubbs hello Casey.
Hi Phil How, are you doing
Really good? Good. Casey Stubbs is the founder of Trading Strategy Guides and fellow podcaster from the How to Trade at podcast. He's an army veteran and the father of nine children. It's still only nine Casey no more. That's
Casey (1m 13s):
It. No nuance.
Phil (1m 15s):
So Casey, you are known as a trainer and educator, but today we're going to focus on long-term stock holdings. What part does long-term holdings play in your wealth creation strategy?
Casey (1m 26s):
Well, I wanna answer this question Phil by telling you a little story. When I first got started in the world, I joined the US Army, And I had a little bit of history and knowledge of the stock market because my dad was involved in the markets. And so I took all of my money that I made in the Army because you don't have to pay for any bills, they pay for your house, they pay for your food, they pay for all your medical. So I took basically everything that I made, And I, threw it into the stock market. And I picked like three or four companies. And by the time that I got out of the military, four years later I had over $30,000 from market appreciation.
Casey (2m 9s):
And that really set me on the path to, I mean I was shocked that I had so much money as a young 22 year old kid, but it set me on the path to really having a foundation and understanding the importance of investing.
Phil (2m 24s):
It's great that you get that from such an early age. What was it about the stock market that you were drawn to in the first place, rather than just You know a lot of people will just put it straight into a a cash account or T bills or something?
Casey (2m 36s):
Well, You know, a lot of the people around me were really excited about spending money You know and they were living paycheck to paycheck. But for me, I was more excited about making money at a young age. You're not like, I hope I have enough money for retirement. I wasn't thinking like that, but I was thinking like, Hey, I can make some cash here. And so I was really excited about the idea of earning extra revenue.
Phil (2m 60s):
So these days, what are some of the criteria that you use to choose long-term investments?
Casey (3m 5s):
Well, I even after all these years, I'm still very attracted to high growth Stocks. And one of the ways that I do that is new innovations and new technologies. I believe that new tech drives the market and if we look back over the last couple hundred years, we can look at groundbreaking inventions that have just transformed the markets. If we look back at like the automobile You know and we look at Ford Motor and how that would've been such a great investment or even You know things like the telephone You know that investment. You find out the company and You know Steel when they created steel and how it was just so impactful for the market.
Casey (3m 47s):
So things like that. And even recently, we can go recently with internet You know we got Amazon and we have cell phones. And all of those things have just been tremendous drivers for the market. And so if you're a long-term investor, you want to try to find those types of Stocks that continue to perform for a long period of time while that rapid growth is happening. And one of the things that's really remarkable about today's world is that the adoption for new tech is much faster than what it used to be. You know when the car came out, it took people like 20 or 30 years before, probably longer than that.
Casey (4m 27s):
Before they were really comfortable getting a car, they wanted to use horses. But now a new piece of tech comes out and everybody's using it right away. Like the internet had a really fast adoption. So that's one of the things I look for. But then I have three key things. If I get a new industry, I'm looking for earnings and revenue growth. I wanna see a company that's making money and that that money's growing. I'm also looking for a company that is the leader of the pack because usually there's gonna be a bunch of people involved. A lot of different companies, And, I want to get in the one that's performing the best 'cause there's always gonna be a clear winner. Sometimes there's two that are in the lead, but usually there's a clear winner. And then the third thing I like to look at for Stocks is I like to look at the leadership of the company because a company is only as good as the people behind it and the leaders.
Casey (5m 15s):
And so I like to actually do some research on the individual and on their leadership skills.
Phil (5m 21s):
So you mentioned revenue in that answer. So it's important for you to look for a company that's generating revenue. I mean, you're not looking for blue sky startups that are pre-revenue. Is that the case?
Casey (5m 31s):
Yeah, because if you invest in companies like that, in my mind that's more of like gambling or trying to get rich quick, trying to You know it just doesn't make sense or trying to find a needle in the rough or get in with a penny stock and hope it blows up. Those things just don't pay off. And if anybody's involved in that You know no nothing against you or whatever, but you might wanna reconsider what you're looking at 'cause there's no such thing as a free ride. There's no no such thing as get rich quick. Everything comes from doing your research, doing due diligence. Now with that being said, if you find a solid company with revenue, the growth can happen really fast, but you wanna make sure that it's a really solid company.
Phil (6m 13s):
It can be difficult though to really know what the effects of technology going to be. I mean we, we had to see You know the.com boom and bust You know was this wonderful new thing that came out. But there was a big shakeout before the leaders really emerged. Do you have any sort of strategies for navigating that kind of volatility?
Casey (6m 34s):
Yeah, that's a really good point because I mean I was involved when I talked about when I got in, that's the timeframe when I got in. And the one thing about most of those companies is that they were not really making a lot of money. It was primarily hype, right? And it was great because
Phil (6m 51s):
Everybody saw you just had to put down, you just had to put.com into the name of your company, didn't you?
Casey (6m 55s):
Everybody saw the potential, right? The internet. It was so cool. What a great technology. I mean, you can't imagine what, like look at us right now, we're talking hanging out across the world. We couldn't do that before. So it was just the potential was there, but people didn't know how to monetize it. And so new technology often takes some time to monetize. The first people are not always the best ones to invest. It's the ones that take that new tech and learn how to make money from it. So that's why looking at earnings is so important.
Phil (7m 28s):
And you never know what the knock on effects of a new technology is going to be. Like. I only just was looking at some historical financial data about when the automobile started to become prevalent and one of the knock-on effects was that suddenly suburbia was able to sprawl out. So there's this kind of knock-on effects that can happen with technology as well. And it's worthwhile trying to keep an eye out for that and where these can come from and how you can profit from them.
Casey (7m 55s):
That's exactly right. 'cause so let's look at it. Bitcoin is a great example. Bitcoin's a big mover and shaker and it's not a stock, but it's had a lot of growth. But there's other things that have been impacted by Bitcoin like chips, right? Because they have to build all these computers that do the mining for Bitcoin. And so the computers have grown and other types of things like have helped chips, like EVs, electric vehicles, these vehicles need chips. So you can get into the electric vehicle companies are, maybe they're not quite profitable yet, but these companies are buying a lot of chips. Go to that bellwether chip company who's making a lot of money and it could be an opportunity there as well.
Casey (8m 35s):
So there's a wide range of impact and effect that you can research. And so that was a really good point to bring up too. Phil. Well,
Phil (8m 42s):
It's also worthwhile now that we're starting to talk about chips. I mean, 'cause people think about Taiwan semiconductors as being one of the leaders in this space, but then there's that Dutch company, I think it's AMSL or a AMLS, and they build the machines that build the chips. So there's many ways of gaining exposure to technology, isn't there if you look around,
Casey (9m 2s):
Right? Yeah. And that's the key thing though, is the growth too. It is like, okay, a good way to look at growth. Like we look at chips, demand for processors, demand for these chips, we're gonna be the making X number of smartphones, X number of computers, X number of electronic vehicles. What is the demand gonna be? And as a matter of fact, when you look at the market, I just read a report, this is pretty interesting. There's gonna be something like And, I, I can't remember the numbers, but there is a ton of new consumers being added in the next 10 years, right? So we're talking people from Asia companies, countries from Africa, countries from South America, these underdeveloped countries that are developing.
Casey (9m 44s):
They're going to be adding billions of new consumers that have never been available because they were all in the small little local villages, but now they're getting access to this technology. And so those are things that we look at as far as, okay, there's still a lot of growth to be had for some of these companies.
Phil (10m 3s):
The stock market is a wealth building machine over long periods of time. Stocks have consistently outperformed any other investment option. But how do you cope with the stress, the noise, and the emotional turmoil that hits you hard every day? Seven, investing knows the importance of being in the market for the long term. Seven investing offers, seven stock recommendations a month. These are their best ideas, which are actionable buyers in the stock market. They're also a fun bunch of people. Seven investing are pleased to offer listeners of this podcast a free trial for a week and 33% off the annual price if you sign up using the promo code Stocks for Beginners. Believe me, this is solid research from experienced advisors that live and breathe the markets.
Phil (10m 46s):
Seven, investing long-term thinking without the mental anguish. I just also think it's worthwhile considering about timing and also a new investor coming into the market. Just say for example, I mean we're recording today on September 14 and Nvidia there, there's been such a fantastic story in terms of chips and it's had a huge run. But then over the last, is it the last five days or so? I think it's been just dropping, dropping, dropping. So if you got in on on the hype and then you're suddenly looking, oh, this is not working, how do you guard against those and the emotions that come from getting caught up in the hype?
Casey (11m 33s):
Boy, that's a good question. Phil. And, I'm really glad you brought it up because that's so important for people to look at big picture and kind of do a little bit of research about how the market works. A great story of this is I've been trying to get my son in the market, You know, and we're picking some Stocks and we're doing some training and he's just upset because he's down. It's not a lot of money, but he's like, dad, we're supposed to make money, dad, I'm not making money. And it's been like two weeks, You know. It's like, listen, I know you're new to this, but it's not gonna happen right away. You've gotta stick with it. And so that's why I really like dollar cost averaging You know back when I first started, I put money in every paycheck, And I, still do that.
Casey (12m 16s):
And nowadays, if I have a solid company that's growing like an Nvidia And I know that it's gonna do well, I welcome the drop because I just keep dollar cost averaging. And on those drops is where I really make my money. I make the big money when the market is going down because I'm getting it cheaper, cheaper and cheaper. And I'm accumulating shares. And when then it, when it does move back up, then I really make a lot. Now if you don't do that, if you invest in a bad company, it'll drop and it will never come back. And dollar cost averaging is terrible.
Phil (12m 50s):
And that's the trick, isn't it? Trying to do that, balance it. Would you approach that, for example, by having diversification so that You know you might wanna cut your losses on something that's not working and let your winners run for a while? Is that part of the strategy?
Casey (13m 7s):
Well, I do believe in diversification. And I also believe in cutting your losers. So if I'm looking at a company and the stock starts to drop, I'm gonna continue to invest in it because the price is an important factor, but it's not the most important. What I really wanna see is that it's continuing to produce earnings growth. That it's continuing to do wise decision making. So that's why I do my research on how much money they're making. I read the headlines, I find out what's going on because a little bit of price fluctuation's not a big deal. And then after a time, if there's a big downgrade, You know the, the analysts say, well this company is entering a a bear market this company's not making, then I'll switch it over to something that's going up, right?
Casey (13m 57s):
Because if it's gonna go down for like five to 10 years or it might never recover, then don don't want to keep in it. So You know, cutting your losers It is like, okay, I'm down, I'm out. I'm gonna go put it into something that's a little better. Now on the diversification side, I do believe in diversification, but I like to keep that limited. The reason being is if you diversify too much, you're not gonna get at make as much on the gains. If you buy in just a few Stocks that are all performing really well, it's much better on the performance side if you do it that way than diversification. But then if you don't diversify, you have a little more risk. So it's just like you said, it's kind of a balancing act and you gotta weigh the pros and cons based on your own personal preferences.
Phil (14m 41s):
So do you have any flashing red signals? Like are there signals that you, or alarm bells that go off that say to you straight away, I'm out, I'm not gonna wait, I'm out. Is it just reading analyst reports or is it something in particular about the the revenue or the financials or the management that you keep an eye out for?
Casey (15m 0s):
Yeah, I don't know if I have like a, a cheat sheet that I've developed that says, okay, it's time to get out. But I do look at like, okay, we revised our forecast, right? So that whenever you listen to an earnings call, they'll say, yeah, the company's doing great and we're expecting 10% growth. That's why listening to those earnings calls is really good because they'll say something like, well we were expecting a 10% growth and now we're expecting a 10% reduction in earnings, right? And so then it's like, okay, the stock's gonna drop now and now the future isn't looking so good because they're expecting a 10% earnings. How long do I wanna ride this out? Do I still believe in the company after the 10% drop in the next quarter, are they still gonna be okay?
Casey (15m 44s):
And so if it's a quarter, I can ride out a quarter. But if they're looking at any, if it's two quarters in a row, maybe not so much. So it's something that I always look at And, I, just decide it by looking at price charts, looking at the economy, looking at what I think is the future of the company going to be.
Phil (16m 4s):
These are skills that are developed over a long period of time with a lot of research, learning and education for yourself. And so it's very difficult for a beginner to You know, start implementing the strategies. But It is something that you've gotta be passionate about, isn't it? You can't do this kind of investment without thinking about it, without learning. I mean, if you're not passionate about it, you might as well be in an ETF or a a mutual fund for example. Would you agree with that?
Casey (16m 31s):
Yes, absolutely. And ETFs are great and there's some really good aggressive ETFs now. I mean we could spend an entire show just talking about ETFs 'cause they're so advanced compared to what they were. I'm investing in an interesting ETF right now. It's a Tesla ETF where they actually do covered calls on Tesla and they pay an extremely high dividend. And so You know there's a lot of different things like that. So Covered call, I know this is a beginner show, but I'll just lay it out really beginner. It's where you hold a stock and then you sell an option on it to create revenue. Back in the day, each individual investor had to do that themselves. But now there's ETFs that actually do that for you.
Casey (17m 12s):
So you don't even need to learn that skill. You just know that the professionals are handling that for you.
Phil (17m 19s):
That's when I get scared when I hear that the professionals are handling it for you. True. Having lost a bit myself with professionals managing money,
Casey (17m 28s):
No one cares about your money like you.
Phil (17m 31s):
Mm, that's right. But it's just more something that I've been really thinking a lot about lately about knowing who you are as an investor. And You know because so many people they, they go into the market and they think, oh, I've heard about Lithium, I've heard about EVs, I've heard about something, I'm gonna invest. And then when they lose money, they just don't understand it. And they really, you do need to know a lot about who you are and the amount of work and detail that you're going to look into in choosing your investments to buy.
Casey (18m 1s):
Yeah, that's very true. And You know, having a plan and looking at, okay, what's your risk tolerance? Everything's of all based off of risk. How much are you willing to risk? And it really depends on where you are in life, your own personality. There's just so many different factors. Like me, I was joking saying I'm old, but I'm still pretty aggressive because I still have some time. You know if the market goes in a an extended bear market, I'm okay with that because I still have some time before retirement. I'm just gonna keep socking away. But if I'm towards the end of my retirement and the market starts to go down, it's like, oh, maybe I don't wanna ride this one out.
Phil (18m 38s):
Are you interested in dividends at all? I mean, I've just written a blog post about the dividend aristocrats that you don't find them interesting at all because they're, I they're the opposite of growth Stocks really, aren't they?
Casey (18m 49s):
Well, yeah, I, I love dividends. And I just mentioned that. ETF, it's TSLY. It's a Tesla E T F and their dividends are amazing. They pay once a month and since it's a very brand new fund. So it's, again, it's a little edgy so to speak, but they a little funky. Yeah, yeah. But they pay great dividends and I've had a lot of success with it so far. And so some of these new ETFs are even better than Stocks. So here's how I do my dividends, okay. And this is a lot different than some people, but I have my portfolio broken up into sections And, I've got my investing portfolio, and then I have my dividend portfolio, And I do 90% investing and 10% is dividends.
Casey (19m 34s):
And so right now I only have five Stocks in my dividend portfolio and two of those are ETFs.
Phil (19m 41s):
So you're letting them do the hard work for you in terms
Casey (19m 43s):
Of raising those ones. And I'm investing, yeah. And reinvesting. Yeah. I take that dividend money and it grows and my dividend check gets bigger every time.
Phil (19m 51s):
How does an investor set up a dividend reinvestment plan?
Casey (19m 54s):
Depending on which broker you use, I use one that will automatically put it right back in. And most of them do that right now. So you just have to look and contact your broker to find out how to get it set up.
Phil (20m 5s):
And do you find them a good idea? Reinvestment? 'cause some people look at dividend reinvestment plans as being lazy because they would rather take those dividends and reinvest them themselves.
Casey (20m 18s):
Yeah, if you can do it better, then great. But I've also found those You know you get those companies that have been paying for like 50 years in a row. There's a couple things that are really great about 'em. Number one is the ones that are, they're just consistent 50 years in a row. And then they also have a history of always raising every year, right? And those two things are something that you really wanna look at because they're just so trustworthy. But that is a great way to grow it. It just automatically gets bigger. It's where the power of compounding kicks in. And that's why investing, it's never too late to start. I don't care how old you are, you should start yesterday, but obviously I'm trying to get my kids started. If you're young and you happen to run across this podcast, good for you.
Casey (21m 1s):
The younger the better because it makes such a big difference.
Phil (21m 4s):
What are some of the things you're telling your kids nine times over?
Casey (21m 9s):
You know, it's so funny. You know. Kids are hilarious.
Phil (21m 11s):
Oh, do you actually get them into the room and give them the one lecture rather than trying to do it individually?
Casey (21m 15s):
Kids are hilarious. And I know because I was one And I, I thought just like them, but you say, Hey, you should really invest because if you do it now, by the time you're 28 you'll be really well off. And they're like, I don't need to do that Dad. Oh, You know what? That doesn't make any sense. It's like, just trust me on that. Okay, just
Phil (21m 35s):
Do it. You'll, you'll keep, you'll keep looking after me dad, won't you?
Casey (21m 39s):
Yeah, I try to explain it You know and try to like, okay, here's how it works. If you invest now and you get a certain ROI and you put this money in, even if you only take 10%. And that's the kind of my guideline is like, just take 10% of whatever you make, you don't need to spend all your money. You know you don't need to. It's not necessary. So just take 10%, put it in the market. If you need help, I'm here to help you because
Phil (22m 4s):
It's so easy to invest nowadays. I mean, you can actually start with $5 now, can't you?
Casey (22m 9s):
Yeah. And it only takes a couple minutes. You know. I mean, talk about an advantage. The advantages now with the new tech and the Access You know with Robin Hood, you get on your phone, you open an account in five minutes, you connect your bank account, you're literally trading in five minutes. It's a pro and a con. It's a pro because it's easy access, it brings in a lot of markets. But it also, it's a con because you got a lot of people that have no clue about the risk and they're just jumping in kind of like what we said they thought they're gonna try to make some money real quick.
Phil (22m 38s):
And you gotta be careful about that because I mean, they make some of these brokerage platforms, they make a big deal that they're providing education as well. But it's still up to the individual to look for that education and implement it themselves.
Casey (22m 51s):
Yeah, it's very important that we all stay educated. You know, you gotta stay, keep learning. I, and you mentioned earlier, Phil about being passionate and And, I, am I, I love to learn. I'm reading new stuff all the time. I'm taking classes. I'm always trying to stay on top of everything. And I feel like that's a big part of being successful is keeping your education always going.
Phil (23m 16s):
When the markets are doing well and everything's green on the screen and You know the rising tide is lifting all boats, we feel really good. But then we get to those times when suddenly the screen's full of red. And this is really important, isn't it? Understanding your psychology and how you're going to deal with it and dealing with what's known technically in the industry as volatility.
Casey (23m 36s):
Yeah. And so a couple ways to really help with that is, number one is You know that the market's always going up and down, right? And, and don't let what's happening in the market control how you feel. Because if the market's up, I'm gonna have a good day and if the market's down, I'm gonna have a good day. If I win, if I lose, I'm smiling because life is good. So I'm just gonna celebrate the fact of having a good life. And then just looking at things long-term, You know, looking at the fundamentals behind your investments. Do I love the company I'm investing in? Did I do my research? Is this company going to continue to grow? Are they making good decisions? Is the market still there?
Casey (24m 17s):
You know things like that. So I don't get worked up over that because I actually look forward to it. You know right now we're entering a period of some uncertainty. But I'm, I'm okay. You know I'm gonna continue investing. I'm gonna follow my plan and I'm gonna stay the course. And those are the people that make it in the long term. Those are the people that are successful. The ones that are able to analyze the risks and be consistent and execute the plan.
Phil (24m 45s):
Yeah, and one of the great learnings I got from interviewing people on this podcast is learning that the market doesn't care about you. if doesn give a You know if doesn give a tinker's cuss about you or what you are, what you're doing, what you want the market to do. And you should return the market that favor that you shouldn't care what the market is doing.
Casey (25m 5s):
Yeah, no, that's, that's a great point. I knew the market didn't care, but I've never heard that you should return the favor. So that's a learning for me. You know I host a podcast too, so I love learning from all these market experts and all these traders and Investors and hedge fund managers and all these people that I've been able to talk to. It's been so good. So that kind of goes back to the education side. If you're educated, well, it helps with the psychology. I don't like to trade alone. You know. I don't like to invest alone. I'm like, Hey, what do you think about this idea? What do you think about this? You know, I talk to people that are successful, And, I, get their opinion on things and how can I do this better? Right? Don't be afraid to say, how can I do this better?
Phil (25m 46s):
The stock market is a wealth building machine Over long periods of time. Stocks have consistently outperformed any other investment option. But how do you cope with the stress, the noise, and the emotional turmoil that hits you hard every day? Seven, investing knows the importance of being in the market for the long term. Seven investing offers, seven stock recommendations a month. These are their best ideas, which are actionable buyers in the stock market. They're also a fun bunch of people. Seven investing are pleased to offer listeners of this podcast a free trial for a week and 33% off the annual price if you sign up using the promo code Stocks for Beginners. Believe me, this is solid research from experienced advisors who live and breathe the markets.
Phil (26m 28s):
Seven, investing long-term thinking without the mental anguish. And isn't it interesting when you talk to so many people, how many different ways there are of investing?
Casey (26m 39s):
And that's why I like to ask because they see things that I never saw when you're just looking at yourself and what You know. You know, there's a lot, I don't know, I've been doing this a long time, but there's a lot that I don't know and a lot that I can learn. So I wanna always invite people in and get their opinion. And there's so many different ways to look at the markets. And, I'm sure even just today there's probably, you probably heard a lot of the stuff I'm saying, but there might be a few things that were unique.
Phil (27m 5s):
That's right. I mean, sometimes you feel like you, you're going over the same ground over and over again. But it, first of all, it's worthwhile battering home some of those points because You know these are things that we need to know, but then there are subtleties and nuances. And in that, in that way, I mean, you just said that you just finished another interview. Was there something that you learned during that interview that you hadn't thought about before?
Casey (27m 25s):
Well, I just did an interview right beforehand. And I was talking to a hedge fund manager and he started a hedge fund for Bitcoin. And so I learned quite a few things about, one is how to start a hedge fund. And I asked him the question and the lesson I learned is don't, because of all the regulations. And he's like, you gotta pay like lawyers millions of dollars. It's like the ones that get rich on a hedge fund are the lawyers. Yeah,
Phil (27m 51s):
Yeah. Because it's it, it sounds so romantic, doesn't it? It sounds all Hollywood and Wolf of Wall Street. I'm gonna start a hedge fund or I'm gonna work in a hedge fund or I'm gonna invest in a hedge fund. But it's really no, it's just another way of approaching the market, isn't it?
Casey (28m 7s):
Yeah, yeah. It's a large scale of doing things, but everything that's regulated can be such a challenge. But yeah, I mean it's just so, so great to be able to look at the market and know that there's an opportunity for everyone. if doesn matter, who It is, everybody can do this. Anybody can do it. and if doesn matter how much money you have, just start. You don't have to have a lot You know if doesn matter how much you make, if you don't make a lot of money, just put a couple bucks in. Just do it. Just get started. You're gonna get smarter, you're gonna get better. You're gonna have some windfall money, you're gonna maybe get a race, You know. Just stay at it consistently. And You know as you do that, it's gonna work out and you're gonna start to see you making some ground.
Phil (28m 54s):
So Casey, tell us a bit more about yourself and how listeners can find out more about you, your book, your podcast and everything. Casey.
Casey (29m 1s):
Okay. So my website is trading strategy guides.com. And I have a podcast. It's called How to Trade It. That podcast is all about trading. I interview traders from all walks of life. And that's available, you can get that on my website. And then I also have a new book, which is called The Complete Trading System, which I share some of the things I just shared in this interview along with a lot more other things. But that's also available on my website as well.
Phil (29m 28s):
Trading's, not for everyone, is it? Especially not for Beginners, what would you say to someone to dissuade them from becoming a trader? What would you say? Unless you have this particular quality, you're not really qualified to do this, do this or get involved.
Casey (29m 42s):
Well, I try to dissuade everybody first of all, because I would not want to say, Hey, go ahead and get started. It's great because I know you're going to go through a lot of pain. And so It is, because
Phil (29m 56s):
There's a lot of, there's a lot of Spruikers, carnival Spruikers in this space. You know saying, you're gonna make lots of money straight away, aren't you?
Casey (30m 3s):
Right? There's just so much attraction because of the potential. So it was just like what I said, like do it. I was encouraging people to do it, encouraging people to invest. And. I like to encourage it. But when they come to me directly, I'm like, well, You know what, this is a good thing and you're gonna make money maybe, but it's not gonna be easy. It takes a lot of education. It takes a lot of work. And so you gotta be willing to pay your dues. And the market is gonna make you pay your dues no matter what. You've got to invest in yourself. And it, it's just like being an entrepreneur or a business person. 'cause I do both. And You know when people tell me they want to be in business, I say, you, you better be sure about it because it's not gonna be easy.
Casey (30m 48s):
The stats that say that, 90 some percent of people that start businesses don't make it You know that's not a lie. That's real.
Phil (30m 55s):
And with trading as well, no one's gonna be holding your hand either. You have to learn how to do it and be consistent with it. And do it for an extended period of time.
Casey (31m 5s):
Yeah. Not give up when things are difficult. You've gotta be able to see the vision and see it to the end and not look at the market like gambling. I mean, that's the big thing is that I absolutely cannot stand lottery. I don't know if they do that where you're from, but around here, lottery is so big. And, I, I just, it's like a, it's like the ultimate shortcut and people enter into the markets like the ultimate shortcut. But the problem is there are no shortcuts. And even if you do win because you don't know how to manage your money, you've got the wrong mindset. You're gonna end up, it's all going away anyways. 'cause you can't, you don't have the capacity to know how to manage that kind of money.
Phil (31m 44s):
Oh, I think the best thing about lottery is, and sports betting, et cetera, is investing in them as opposed to participating in them. That might be an cruel way of looking at it, but really You know. Well
Casey (31m 57s):
You, you You know what I mean? It's a good investment because if you look at the masses, and I'm not criticizing people, but it's just the mindset that's so prevalent is that You know everybody's looking for the shortcut. And as long as there are people that are gonna be giving people the shortcut, those people are gonna be making money.
Phil (32m 13s):
Yep. Casey, it's been fantastic catching up with you again. It's been too long. I think it's been over two years since we last spoke, but let's do this again. It's always good to speak with you, Casey.
Casey (32m 23s):
Yeah, it's been good. I'm glad to see your show still going strong and then you're, you're moving forward. It's so exciting to see.
Phil (32m 31s):
It's great fun. I mean, I get to speak to people halfway around the world about the thing that I love talking about investing.
Casey (32m 37s):
It is good.
Phil (32m 38s):
Casey Stubbs, thank you very much.
Chloe (32m 40s):
Thank you. Thanks for listening to Stocks for Beginners. If you enjoy listening, please take a moment to rate or review in your podcast player or tell a friend who might want to learn more about investing for their future.
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