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Pigs Get Fat, Hogs Get Slaughtered
31 Plays14 days ago
In this episode Patrick and Andrew discuss bitcoin/crypocurrency, investing, retirement savings, gambling, how to be wise with your money, and avoiding risky financial pitfalls.
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Transcript
Introduction and Kipling's Wisdom
00:00:00
Speaker
and the brave new world begin begins when all men are paid for existing and no man must pay for his sins as surely as water will wet us as surely as fire will burn the gods of the coffee book headings with terror and slaughter eternal
00:00:29
Speaker
Hello, everybody, and thank you for joining us for another episode of the Copybook Headings podcast. If you're a new listener, just joining us for the first time, this show is inspired by the poem by Rudyard Kipling called The Gods of the Copybook Headings. And every week we take an old saying, proverb, or maxim and we break it down to see what we can learn from it and see if there's still any ancient wisdom that's relevant today from these old sayings.
Personal Health and Aging
00:00:50
Speaker
I'm your host, Patrick Payne, and with me, as always, is my co-host, Andrew Stevens. Andrew, how you doing, bud?
00:00:56
Speaker
Doing great. How are you tonight? You know, surviving. I'm just telling you a little bit about some of the, uh, you know, health problems I've been having. I've been struggling with some back pain because I'm getting old now, middle aged. So that's probably it. But, uh, apart from that, I'm doing okay. hi How's the, how's the fam? Yeah. ah Pretty good. Just, um, so far, you know, no, no colds this week, you know, nothing like that. Just that's a win. Couple, couple, uh,
00:01:27
Speaker
wake up, smell the night with the kids, but you know, that's not too bad. So yeah, it's been good. It's been good. Okay.
Family Trip Planning
00:01:33
Speaker
Nice. I was just telling, telling you off air, we're, we've been trying to be trying to talk the family into heading up to Oregon. Um, at first it was going to, I was thinking we were going to go to the coast like during the summertime, but then they're like, no, it's like, cool. We want to go somewhere warm, you know? Cause it's kind of chilly there, you know, all the time, you know? And now I'm like, well, wait a second. If they don't want to go when it's You know, if there's warm other places, it'll be a heck of a lot warmer there than it would be here in Idaho. So yeah no snow probably isn't like maybe they'd go for a winter trip. So that's what I'm trying to talk them into doing it. I know you've been up there several times. So I have to pick your brother. I love it. and I love and what to do ah love the coast in the winter. So, uh, I'm all about that. Just when we, we went for, we were out there ah last Christmas. My sister lives out there and, um, they had, they had what they call a King tide going on.
00:02:24
Speaker
or just the tides weigh in and and and big. and And so it was just pretty cool watching, you know, it just, ah the man longs for the sea, right? Just you sit there looking out the window, watching the waves all day. like you never gets tired and never gets never gets boring. so yeah the The masculine urge to stare out onto out into into the sea and yeah contemplate life. Yeah. so So my wife listens to all our episodes usually. So ah what's the best part about going there? Can you can you make like a 30 second case for what's so great about it?
00:03:06
Speaker
um well dia the The Oregon coast is and ah and and and Washington to some extent where i where I'm from, it's great because it's it's very rural. And so you get this nice isolated coast kind of experience, which is really fun. um it's It's quiet. It's not touristy. I mean, even even in the summer, it's not terrible in a lot of places, but in the winter, and definitely it's it's it's quiet.
00:03:35
Speaker
And so if you find a nice cozy place to stay, you really, you can go out in the beach. You can still go around. Uh, kids can go collect their shells and, and dig around in the sand and, you know, even get their toes wet. That's fine. But, um, just, just fun. When we were there, some people went out and did a ah new year's, like a new year's dip out in the, out in the ocean. oh geez The first thing in the morning. that was kind of How cold is that water?
00:04:03
Speaker
it's it's From what I understand, it's like around 50 degrees most of the year. so It's just cold. It's just the air is a little colder in the winter. so Nice. is it a Is it easy to find a place that right on the coast to stay, like ah like a little beach house or something? Yeah, I think so. My sister lives on the you know pretty close to the the beach, and so that's nice, but as far as like you can rent condos and Airbnbs and stuff like that, especially in the off season like that, I think it'd be pretty easy to find.
00:04:35
Speaker
I got to talk to family into it. I'm telling you, every time I bring it up, the kids really good to own Selenium, but I'm like, no, you guys would love it. It's going to be fantastic. So I think I've mentioned that on there several times. I'm going to keep you guys updated so that you know if I was able to succeed in my mission on getting them to the
Proverbs in Finance: 'Pigs get fat, hogs get slaughtered'
00:04:48
Speaker
coast. But anyway, uh, yeah, we got a, we got an interesting one this week. This is one I picked. Yeah. yeah Okay. So it's, uh, pigs get fat, hogs get slaughtered.
00:05:02
Speaker
Had you ever heard this one before when I threw it your way? I have, I have. And and and as I was looking it up a bit, there were a couple of variations that I think I've also heard before, which is pigs get fed, hogs get slaughtered, or um pigs eat, hogs get slaughtered. Interesting. kind of um some Some variations, but I think ultimately they all have the same kind of intent, same kind of meaning. Where did you come across it?
00:05:33
Speaker
I don't remember. I think I was ah you know reading some financial something or other blog or something because it has to do with finance, generally speaking. That's the way I've always ah understood it. And for those who aren't familiar with it, what what it kind of means is It's kind of a caution against greed because if you're like in the in the field of investing, if you're trying to get fed or even get a little fat, like that's one thing. If you start getting too hoggy and too greedy, that's when you get slaughtered. Metaphorically speaking, you can lose all your money. Is that kind of what you understood it to be? Yeah. Yeah, exactly. Same same thing in the context of
00:06:16
Speaker
investing, um, in the context of just making money in general. Um, yeah, that's, that's kind of where I've heard it from. And that's, you know, the, the small amount of research I was able to do on this one. I didn't land on a ah definitive source. I might've missed it, but, but it just seemed like generally it's kind of like, this is a wall street kind of phrase that comes from finance.
00:06:42
Speaker
I didn't find much history on it. Did you find kind of like how old it is or anything? I didn't find much about that. No, I did not. Okay. Yeah. So I don't know if it's an old one or a young one or or whatever, but I thought it might've been somewhat interesting, especially now. I don't know if you've seen what like the price of Bitcoin and stuff has been doing lately.
Cryptocurrency Adventures and Reflections
00:07:04
Speaker
I was i was looking through ah looking through some old transactions, you know, on my um my crypto trading. I was looking at Doge, you know, that's that's back in the news, right? yeah And, you know, i think i I think I made, you know, like 3X on that when I sold it at the time. But I look at like, you know, oh, I had 20, looking at this, sir line is like, oh, you sold 24,000 of them for like $900. Like, oh man. What is Do-It's worth now? I don't even know. It's, I don't know. It's like 30 cents or something like that. So, you know, I'd be several thousand dollars instead of, you know, several hundred. It's not like a, it wasn't a, wouldn't be a life changing amount, but still it's, and you know, and at the time I got what I wanted out of it. Um, you know, I got, I got more than my money back, but
00:08:01
Speaker
and And I put that money to use, I think at the time, I pulled it out for something useful, the family or something. But yeah, you just look back at that, oh man, if I still had it. But that's that seems to be all the all the way it is with ah with crypto in particular, like with Bitcoin. It's like, oh, well, if you held onto that Bitcoin, you'd have- Yeah, but nobody ever does it. thousand dollars right but But like, okay, but I'd have it, but I wouldn't want to sell it because I'd feel like I'd be missing out if I if i sold it now or you know or if I did sell it now and it goes 2X again, then I'm going to feel terrible. like You're always was going to feel terrible about it. ah You're always going to second guess yourself on on those decisions. so Yeah, or or you would have sold it a hundred times between now and then, you know what I mean? If you'd have kept it. you know it's like
00:08:47
Speaker
um ah What's the phrase, hodl, hold on for dear life? Is that that that what they said, just hold it? But at some point you got to cash out or else it doesn't doesn't ah doesn't do much. What's your thought on which you thought on Bitcoin
Bitcoin: Stability or Speculation?
00:09:03
Speaker
generally? um There's kind of schools of thought where as Like it could be a really good source of um stability just because there's a finite amount that can be mined and it's very limited and it's open source. And so it's pretty transparent. And then other people are like, it's just a Fiat, you know, currency just like anything else. What what are your thoughts on that? Well, you know, it seems like it's, it's, it's definitely like proving itself longevity wise as far as our, you know,
00:09:36
Speaker
fruit fly attention span kind of culture is like it's it's been around for a while and and it keeps going up. um And so yeah I'm thinking ah I might you know get back ah into it a little bit and with really just to like set it and forget it and hope hope it keeps going up and you know maybe it pays for the kids college and in 20 years or whatever. um but But yeah, I don't know. but i don't It still just seems like a, a bobble. It seems like a trinket that, um, but you know, if, if people believe in something, like if there's enough people that believe in, in something that has value, it has value. Um, and so you just kinda, I feel like I'm, so I'll put a little bit in it and I'll, I'll ride that wave and see if it keeps going. But, um, I dunno, it's.
00:10:32
Speaker
As far as like, you know, people, people talked up a lot about like the technology of it with the blockchain and stuff. And I don't know. I don't know if I've seen, I'm sure there's plenty of little use cases going on with it, but I, that I haven't seen really be all that impressive to me. The, the finance aspect of, of crypto, like,
00:10:56
Speaker
It just seems like Fiat, that's uncontrolled. and yeah So that's what I think. What what about you? Are you into it at all? um I don't have hardly any anymore. I had some. I yeah i think I had a couple of thousand bucks at one point. I doubled my money. I got out. like kind of fine And then I put ah i had had another wallet that I forgot about that has several thousand dollars in it now that I forgot the password of it. so But i i but i yeah, I had, it was like 50 bucks at the time or something or a hundred bucks. I'm i'm only out a small amount, but it's kind of sucks to sit there and see it go up. It's like thousands and thousands ever every year. It's a little bit more. But then again, like I said, if I had remembered the password, I would have sold it a long time ago. and I'd have been like, Twitter made 300 bucks. I'm out. you know
00:11:41
Speaker
versus, exactly you know, five, six, seven, eight grand, whatever it is. But um yeah. Yeah. I know some people, there have been some comments. theres some There's always someone, some new crypto too, you know, where it's like, this one's better than Bitcoin. There was Bitcoin Cash. Remember that one that was like hot for a while and they're like, because it was quicker and easier to move around than and Bitcoin. and um But yeah, in terms of crypto, I don't i don't know. I know Dave Ramsey says not to.
00:12:10
Speaker
But maybe it wouldn't hurt to put it a little bit in there because you never know. Sometimes these new things stick around and, and it seems to have, I mean, it's been quite a while now.
Cryptocurrency Value and Scarcity
00:12:20
Speaker
Yeah. I mean, it's, um, there, there's a lot of, I think similar arguments for a lot of the the precious metals that people, you know, stockpile, like, yeah um, and similar, similar things, you know, people, I think with a lot of these types of investments, people think about.
00:12:39
Speaker
you know, end of the world type scenarios or other or instabilities, right? Like, so with the gold, they're like, oh, gold's always good anywhere throughout history. I'm like, yeah, that's true. And with crypto, they think, well, okay, if I had to like flee the country,
00:12:55
Speaker
If I had my, if I can you know memorize my password or have it like concealed somehow, I can go to another country and have all my money without getting and it confiscated or something, right? So there's that aspect that I think a lot of people ah like about it, and I think that makes sense.
00:13:12
Speaker
I've heard of people doing that. I've heard of a a guy a while back I read of a story of flood the country and he just had like a million bucks on a USB drive, you know, flat little flash drive. It's like, you know, no one's gonna stop you at the airport with a flash drive, but there's yeah millions on it. And so yeah, um could be so could be a form of security there. I mean, ultimately, I think what value comes a lot it comes down mostly to scarcity, I think, right? So as long as there's a way to to maintain that scarcity, and it seems like Bitcoin has a way to do that, albeit yeah artificial, it still still seems like it works. I mean, it could could still be a thing. I mean, is it fiat? Yeah, but I mean, so is cash. And if someone offered me a duffel bag full of $100 bills, I wouldn't wouldn't turn it down.
00:13:59
Speaker
Yeah. I mean, it's, it's a, it's pretty ingenious. Like the scarcity aspect with Bitcoin that as the price keeps going up as it gets harder to mine the remaining bits, you know, and, and so it, that has like had parody as it goes up. I don't know what would happen if, if the value of Bitcoin did were to crash, like that remain, like there's really no incentive to mine with how energy intensive it would be.
00:14:29
Speaker
Um, so I don't know if if that were to happen. I don't know what would happen to, to the whole operation, but you know, so many of them, like the, I forget all the technical terms, like there's, there's the type of tokens that are like built on these other bigger systems like Bitcoin or Ethereum where people can just make their own, right? All those meme coins that you see going around, like.
00:14:53
Speaker
Especially when they're around the election and stuff or like these Donald Trump ones and Joe Biden ones and stuff. Yeah. Gio Bowdoin. Yeah. that's and And they go crazy, right? But a lot of times the people who make those either make them unlimited, like they're able to mint as many as they want. So as as it's going up, they can just flood more and more in and just make lots of money. And then they all, you know, they do the rug pull, they call it and just cash out and leave everyone holding the bag. and
00:15:23
Speaker
So there's only ah a hand, I feel like there's only a few that can't do that or don't, uh, but anything else like that has that potential or it's just a potential scam. And there's just so many of them out there. And that's where, interesting that's where the hogs, that's where the hogs show up. Right. That's where that's where the hogs get slaughterily they get slaughtered. Cause it's, it's great. Like printing money, like, ah okay, I'm going to go, I'm going to go do it. And that's where we'll get greedy.
00:15:47
Speaker
Yeah, I mean, I do love the idea of the the the mining of Bitcoin because it it's you know, it was obviously it's I don't think it's a coincidence that they're trying it's trying to be analogous to gold where you have to dig something out of the earth. And that's why gold was valuable because you couldn't just turn on a printing press and print up a bunch more greenbacks, you had to go you know, when we were on the gold standard, it's like, okay, we you have to have gold, or else you're out of money, you know? And so I kind of like that that concept of it. But yeah, I'm not, I'm like a big crypto guy. I don't really know that much about it. I just have, I've invested a dabble a little bit here and there. Yeah. In Bitcoin. But
00:16:22
Speaker
um In terms of ah what what's your what's your philosophy on um investing ah more broadly? Are you ah kind of a like an index fund guy? or Yeah, because i'm I'm bad at it. and so like I've got friends who are really are pretty good. they're They're studious guys and so they'll they'll follow market news and company news and quarterly reports and stuff. but i I'm too much of a hype bandwagon kind of guy. So I just have to do the index funds and set it and forget it, you know, just yeah automatic, automatic invest, you know, every paycheck into ye whatever general fund kind of thing. And that's, that's the way I do it. Cause that's the only way I'm ever going to make money.
00:17:07
Speaker
yeah Yeah. No, i'm i'm I'm the same way. i and don't I'm not i not smart enough, but I am smart enough to know that I'm not that smart, if that makes any sense. I have at least a little bit of wisdom to realize I'm not that bright. um but i like But yeah, I was ah had a was talking to some some friends. There were some younger guys. I was talking to them online. And I was like, wait, you guys like have You guys know what a 401k is, right? And most of them are like, oh yeah, some of them are like, no, not really. And I'm like, okay, well, when you're like 21, you want to know what that is. And like it's real important. Like if your job out offers that, you want to take advantage of it because time is your friend when you're that young. And so that's yeah, i'm i'm I'm the same philosophy. um I have no interest in getting slaughtered. So, I mean, you know,
00:17:57
Speaker
If I don't, if I don't retire with gazillions, I'll be okay as long as it's something reasonable.
Safe Investments vs. High-Risk Ventures
00:18:01
Speaker
But, um, yeah, I'm, I'm, I'm the same way, just boring and stable. phone city went There's a lot of, there's a lot of like fun stuff to like, there's a lot of energy and excitement in all of those scenes. Like, um, do you remember the, the wall street bets stuff a couple of years ago?
00:18:21
Speaker
Yeah, GameStop and all that? GameStop and then the movie theater, cup which one was it? AMC? AMC, yeah. Yeah, i was i was I was in there. I you know put a little bit in that just for fun because it was fun it's fun to follow. It's fun to be in the chats and and all that kind of stuff. But but you mean you're at the you're at the mercy of of the whales. You're at the mercy of of the people really calling the shots.
00:18:48
Speaker
um Like with that, you'll remember ah people were like investing on on apps. like Robinhood and other investment platforms. And the you know they just pause trading on some of these. like Oh yeah, that's sleazy. Yeah, i mean like i mean but they can do it and they do do it to prove prevent you know crazy fluctuations. And so you think you're, okay, this is it. this so I'm going to sell right now. I'm going to buy right now. And then you can't and it's stuck for for hours and hours. And then some people behind the scenes are all adjusting everything the way they want it. And then it goes back again and
00:19:24
Speaker
There's really no recourse. That's just the way it is. So it's ah you it's you can learn some lessons doing this kind of stuff. Just don't put too much in while you're learning these lessons. Yeah, that was so messed up. like When I heard that, I was like, how is that even legal? I don't know if there was any lawsuits or anything, or if they're totally ah you know legally shielded from that behavior. I don't know. I think they were. sleep it was just Yeah, I think they could just do it. I don't know. Yeah.
00:19:54
Speaker
Um, well, I mean, the election's over. That's always a volatile time. Seems like markets are kind of going up now, but coins certainly has, um, stock market generally. So it's always a good sign. You know, uh, things always get wild around election times because, because investors get panicky and they don't know what's going to happen. And and Especially with a new presidency, I feel like that might be a little more versatile since we've had Donald Trump in the in office before. I feel like most investors kind of know what to expect. I feel like that's probably why it's it's showing some confidence. Yeah, I did i did see some more like volatility today and yesterday and stuff with some of these cabinet picks, certain markets. like
00:20:39
Speaker
I think I saw some pharmaceutical companies really, uh, drawn back today. Oh, imagine the Kennedy announcement. And so, you know, some panic in that sector. So yeah, I think there's still gonna be that kind of thing like sector by sector for a little while, at least until everyone knows what's going to happen. So at least, at least through January, I guess, it's going to be every, every news cycle is going to scare someone.
00:21:06
Speaker
Yep.
Greed in Investing and Gambling
00:21:08
Speaker
Um, but yeah, that's why I'm i'm like, yeah, I like a, I like an index fund indexes ah on the top 500, you know, companies S and P yeah and it's just, you know, someone will go up, someone will go down, but I, you can trust usually that the billionaires will get theirs and, uh, you know, and so if you're just kind of stuck to them, you're like, you know, I'll just, I'll just ride your coattails a little bit here. So it's probably not going to become a millionaire overnight, but it's okay.
00:21:36
Speaker
But yeah um ah yeah, I think that's a the kind of the slow um approach is typically the typically the best one unless, like you said, you really know what you're doing and you're one of these guys that maybe you have a Your education background is in that, or you've spent a lot of time and energy understanding these markets. I know you people can make big short-term gains if they really are tapped in. But I think for the for the average person, a 401k is probably your best bet. Absolutely. Yeah. it's ah it's It's tempting to want to try and win the lottery, right? like that's That's what it ends up being if you're not
00:22:19
Speaker
you know, making it your life to know every, every in and out of something like, Oh, okay. I'm going to buy this coin and I'm going to, it's going to go a thousand X and I'm going to retire. Right. Like that's, yeah. It's the same thing as saying you're going to go buy your scratchers and, and win. So, um, just I've never bought a scratch. Yeah. Yeah. I haven't either. My friend, he used to do the, uh, I don't know what's the power ball, the big ones, the mega millions or whatever, like.
00:22:49
Speaker
If it got over you know like a billion dollars in the pot, he'd go drive to the next state over and buy some tickets or something. I feel like that's the that's the wrong strategy. I feel like he should like you should buy when it's low because I think the chances are of winning are higher, aren't they? Yeah.
00:23:05
Speaker
I have no idea how they judge those odds, but you'd think so. Yeah. You'd think that it's a smaller, smaller pot, fewer people in it. I don't know. And plus I feel like, you know, uh, I'd rather have a higher chance of winning 20 million or 10 million versus a lower chance of winning a billion. Cause I mean, it's like, yeah, yeah you know, so always always end up getting like split too. Right. Like when they always end up having like a handful of winners on those big ones. Oh, do they, I don't know how they work. Yeah.
00:23:34
Speaker
But yeah, so so here's the another thing I thought of with this one though, was like, maybe outside of like investing, but kind of the, similar to like the ah tall poppy um idea where the tall the tall poppy gets cut down and and because it sticks over the, up above the others, right?
Fraudulent Schemes and Consequences
00:23:57
Speaker
yep um And thinking of like the kind of fraud that some people engage in,
00:24:03
Speaker
trying to get greedy, like you see you see the stories about the the PPP loans and the people setting up these completely fraudulent companies to get this relief money during COVID. and And now like those people are, some of those people are being prosecuted and stuff. And you see little stories here and there, but just kind of that people getting too greedy with their their schemes and getting getting some big scary eyes on them when they yeah when things shake out. Yeah, you don't want the SEC after you. Yeah. yeah
00:24:41
Speaker
It's true in finance or in college football, because they're the best.
00:24:47
Speaker
um But yeah yeah, no, I think you're 100% right. And in in not just investing, but I mean, I think I've talked about before where you know I've taken ah another job because I wanted some big money and then it didn't always work out the way I wanted. You got to be careful with being a hog. you got You got to be careful getting too greedy. There's nothing wrong with being ambitious and wanting to get that next step up. and You know, gun in for that promotion. I don't think there's anything wrong with that, but you really have to be wise about it because you can, you can get out over your skis real easy and then, yeah and then you can get slaughtered. Yeah. Absolutely. As it were.
00:25:27
Speaker
um
00:25:33
Speaker
Um, what do you, what do you think of the, um, you know, these, we usually ask about the, the gods, the copybook headings and then the gods of the marketplace, which is kind of the antithesis that what do you, what do you think a society at large feels about about about this one?
Societal Views on Greed and Investment Wisdom
00:25:48
Speaker
Yeah, that's a good one. I mean, and it's kind of funny cause this one is like a marketplace yeah proverb, right? Um, but there's still some, you know, kind of long-term conservative type wisdom in it. Um, I think, I mean, people, people want to win the lottery people and, um, people want the easy money. So I think it's, this is always a tempting one. Uh, and certainly right now it is that, that people.
00:26:19
Speaker
Um, well, don't think they're going to be the hogs, right? I think they're gonna, they think they're just going to get fed. Um, yeah. So I, especially when you see, when, when social media and things is, is very curated to show you the winners and yeah not the losers. And so you see all these other people winning all the time, like, Oh, it's my turn now. You know, I gotta, I gotta go out and do it. I gotta go take some risks and.
00:26:46
Speaker
if I'm going to be like them. So yeah, I think always a danger with this one. Yeah. And it's, it's, uh, it's always a temptation to want to, to want to be the guy who, who gets lucky. You know, I, uh, like I said, I've never bought a lot of ticket or anything like that, but at one time I was flying through Vegas and I was in the airport and they have all the the slot machines there at the airport. You know, I wasn't even like at like casino, was just walked through the airport.
00:27:13
Speaker
And I think I had like 10 bucks in my pocket or something. I'm like, oh, I'll put one of these things in. But they're all like these weird lights and colors and everything. And I don't know how they work. Because I'm like, what am I even supposed to do here? Because it didn't it wasn't like intuitive to me on how how to play this game. So I put my $10 bill in there. And I like hit the button like three times. And then it was gone. I was like, in like a matter of like 30 seconds, 45 seconds, I was like, yeah ding, ding, ding, ding, ding, ding, ding, gone. I was like, well, that was dumb. I just lost 10 bucks.
00:27:41
Speaker
And, uh, yeah, and that was that, that was that for me. So, um, yeah. Yeah. I remember when we were, when I was a kid, we, we took a family vacation to Las Vegas and, uh, my parents, they, they wanted to like, and the airport on the way out of town, they're like, Oh, we should, uh,
00:28:00
Speaker
We should give them like a lesson on just how gambling doesn't, doesn't win. You know, let's like put, put a quarter in the slot machine. They're like, well, knowing our luck, we would win. So they didn't do it. but We didn't get the cautionary tale there on gambling. I know. That's always a scary thing. Teaching your kids, be like, now watch this kids. That'd be hilarious.
00:28:26
Speaker
Um, but yeah, uh, I think it's a, I think this one is really solid advice. I think the marketplace doesn't always respect it, but, but yeah, man, it's, uh, be wise, be, be, you know, there's always the saying that life is, you know, life is too short whenever life is actually kind of long. Like, you know, when you think about it, like,
00:28:46
Speaker
When you're 27 years old, like it's going to be a long time. And in at that age, if you have a halfway decent job, you can basically guarantee that you'll be a millionaire someday. If you can just yeah be wise and squirrel away some money and leave it in the market and keep letting it compound on itself over and over versus trying to dump all your money into some new business or or some stupid cryptocurrency coin that may go up or may you know lose everything. So yeah, no, I think it's this one's solid.
00:29:16
Speaker
Absolutely.
Closing Advice on Cautious Investing
00:29:19
Speaker
All right, man. Well, this is ah this is a good conversation. thanks for Thanks for your input on this one and thanks everybody for listening. we will ah Remember, pigs get fat, hogs get slaughtered. So remember as you're investing or making decisions with your money to be conservative and not you don't want to be the hog, right?
00:29:42
Speaker
Yeah, just don't be the hog. Just don't be, don't don't get too hoggy with things, you know. Well, you can get a little fat, but don't get too, don't be too too hoggy, but. All right. Well, thanks everyone for listening. We will catch you guys all next week. Thanks, Andrew. See ya. Yep. Bye. There are only four things certain since social progress began that the dog returns to his vomit and the sow returns to her mind and the bird's bandaged finger goes wobbling back to the heart.
00:30:11
Speaker
and that after this is accomplished, and the brave new world begins, when all men are paid for existing, and no man must pay for his sin, as surely as water will wet us, as surely as fire will burn, the gods of the copy will hit us, with terrors or tortures.