#35: Discussion with Raoul Pal @RaoulGMI (CEO & Co-Founder Real Vision; Founder GMI)
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What does it take to realise a life-changing investment, i.e. 100x returns? How can we be ready for the mental challenges, the ridicule from friends & family for being 'crazy' and 'nuts', and the emotional ups and downs? Is the mindset required similar to being an entrepreneur?
Raoul Pal, CEO & Co-Founder Real Vision; Founder Global Macro Investor, is no stranger to this, as a serial entrepreneur and long time successful macro investor. We do a deep dive into the mental strength required to find, make, and ultimately realise life-changing returns. It's easy to say 'concentrate to accumulate, diversity to protect' however when should we concentrate a bet? What process should we follow to find it? How can we sleep at night (spoiler, have safety nets!) with so much on the line?
Whether an investment, or as an entrepreneur, you have to take risks in order to make life-changing returns, and whilst many podcasts and videos cover ideas for the next big thing, there has been less coverage of all the other aspects that need to be nailed in order to stay sane, actually realise the returns, and to not get wiped out if wrong (there is of course no guarantee you will be right).
As always, please DM me on twitter (@Darky999) with feedback whether good/bad/ugly, and for ideas for future episodes.
United States
That was really insightful, thanks!...best thing a young person can do is go for it, try and start something (a business idea) and see it through, and it’s alright to fail...such powerful and exciting ideas. We need more people with this kind of perspective in the world and governments that support this mind set, as appose to the you’re crazy and you can’t do that mindeset that seems to be so endemic amongst our peers...merci