YouTube Transcript:
Tony Robbins Interview with Tim Ferriss

Skip watching entire videos - get the full transcript, search for keywords, and copy with one click.

AutoDub

Understand YouTube Foreign Videos

Immersive YouTube Voice Translation

Break language barriers, embrace global quality content

Solve Foreign Video Barriers Instantly

Video Transcript

optimal at this altitude I can run flat

out for a half mile before my hands

start shaking can I ask you a personal question

question

now soon I'm a cybernetic organism

this episode is brought to you by

99designs dot-com which is the largest

online marketplace for graphic design

with more than eight hundred and fifty

thousand registered designers from all

over the world who compete for your

business I've used them for years and

I've used them for some very big

projects like the book cover for the

4-hour body which went on to becoming

number one New York Times best seller

translated into at least I would say 10

15 20 languages and I used 99 designs

because I needed results and I needed

them very quickly so here's how it works

you need a logo a website book cover

t-shirt car app whatever you put a

description on 99designs comm then

people submit designs and in a week or

less you have an original design that

you love or you get 100% of your money back

back

so check out 99 designs com forward

slash Tim you can see some of the

projects that I've done personally and

you can also get a $99 upgrade for free

this highlights your project listing it

with a prominent background bumping it

to the top of the page and on average

this will attract close to 200 percent

more designs so check out 99 designs com

forward slash Tim and I think you'll

hello ladies and gentlemen boys and

girls this is a very exhausted Tim

Ferriss and welcome to the Tim Ferriss

show so glad to have you you know I am

one tired saamne bit right now and I

couldn't be happier about it because

I've been flying around the country

doing various experiments and I had the

opportunity to go to Palm Beach Florida

to sit at the home of Tony Robbins and

ask him just about everything I've ever

wanted to ask him and this is a very

special interview for me this is the

interview the conversation I've wanted

to have for 15 years and now that I'm

back in SF gathering myself drinking

some what appears to be laughing coyote

tea I have no idea what's in it could be

all sorts of drugs psilocybin and I'm

thrilled to be putting this out there

for you because Tony is a fascinating

character for those of you who don't

know him he has consulted or advised

leaders including Nelson Mandela Mikhail

Gorbachev Margaret Thatcher

and Mother Teresa he's consulted members

of two royal families the US Congress US

Army US Marines three US presidents

including Clinton and other celebrity

clients would include names you know

like Serena Williams Andre Agassi Greg

Norman of course the golf legend

Leonardo DiCaprio and Oprah Winfrey who

calls him superhuman the stat that

always just sends my head spinning is

that Tony has developed and produced

five award-winning infomercials that's

of course how a lot of people came to

know of him and these infomercials have

continuously aired on average every 30

minutes 24 hours a day somewhere in

North America since check it out April 1989

1989

it's just Tony TV out there 24/7

insanity this particular conversation is

broken into basically three parts the

first third of our very long

conversation in

helps me asking him the questions I've

always been dying to ask him ever since

I first was exposed to his material and

I explained a lot of the background

which is kind of hilarious when we get

started the second third and the third

third would and of course along the way

we talk about his daily routines the

types of questions that he asks

world-class performers and so on the

latter portions of this focus on what

tony has been researching and and really

teasing apart and analyzing for the last

well several decades but especially the

last four years and that is how do you

master the game of money why is there so

much financial illiteracy and how do you

stack the deck so that you can win

because there's a lot of hijinks and

there's a lot of nonsense out there how

do you actually invest what do you do

with your money and it's a huge topic

but he has interviewed and in fact

coached some of the most unbelievable

minds in the world of finance and

investing I couldn't believe the list

including people like Paul Tudor Jones

Ray Dalio

who's of course a a whiz in the world of

hedge funds and the list is unbelievable

Carl Icahn David Swensen who turned one

billion into I think twenty three

billion for Yale and some curious

characters like mark dr. doom Faber Sir

John Templeton Kyle Bass who became very

very famous for in effect predicting and

shorting the the subprime crisis or at

least he made his fortune one of his

fortunes in in seeing that through

through the looking-glass

these are these are the these the Navy

SEALs the the the the top of the top and

he has been able to ask them just about

everything that you would want to ask

them and a lot of what Tony's going to

say is controversial or counterintuitive

and no doubt you'll disagree with

some of what he says but I guarantee you

even if you don't care about investing

you think you don't care about investing

and by the way if you've decided not to

think about investing that is a decision

and investing I guarantee that if you

listen to this entire conversation which

I plan to listen to over and over and

it's it has a lot of information that

you will take away at least one or two

things from Tony that lead you to say

holy I've never looked at that

aspect of my life that way and it'll

turn things upside down and you will

walk away with a completely different

lens through which you can look at how

you're living how you're handling your

business and I think you will find

tremendous value from this single

interview so I will leave it at that you

know I don't want to oversell it I will

say that for me Tony can be an

intimidating guy just in sheer size he's

a big dude and he can actually pull my

entire face and now we have a photograph

of that that I'll share but I get into

that in the interview he's also very

seasoned pro and I have a lot of respect

for him so it takes me five or ten

minutes I'd say a let's just say 10

minutes to find my feet in this

interview when we hit our stride then

all sorts of gems come out and there's a

lot of good material in the beginning

but give it some time be patient listen

to this whole thing it is worth your

time so without further ado I think I've

had too much laughing coyote tea here's

alright ladies and gentlemen this is Tim

Ferriss welcome to another episode of

the Tim Ferriss show I have a very

exciting episode for you and a very

exciting guest mr. Tony Robbins Tony

thank you for having me in your home of

all places I'm glad to be home that's a

very much less to have you here grateful

that here as well and we have many

different topics I have many different

questions I'd love to delve into of

course I perhaps unbeknownst to a lot of

my fans have a long history with Tony

Robbins but not in person this is the

first and for those of you who don't

know some of the background when I first

graduated from school and moved to

Silicon Valley to chase the billions

that seemed just they were being handed

out in 99 I learned a 1999 they were in

a way and I was driving a hand-me-down

beat-up green minivan from my mom the

seats got stolen from inside or at least

the back so all my co-workers started

harassing me and calling it the molester

mobile and the job the company didn't

seem to be a long-term fit for me and

when I was on a road trip at one point I

bought personal power may have been

personal power too and I started

listening to it to and from work on my

commute which is terrible for those who

don't know the bear if you're on 101

rows between San Jose and SF it's

horrible and ultimately that was one of

the catalysts for me starting my first

company so simply touch that knowing all

that you've done that really touches

touches me completely cuz you're an

inspiring character to me oh not before

our work week is I don't looking for the

four hours sleep week at this stage I'd

like to be able to pull that one off but

but really I think the way you attack

subjects and that's what you do you

don't look at them you go after mastery

of them and the way you experiment and

the way you constantly dig underneath to

find the organizing principles I feel a

kinship with you we're in different

stages of life and things like that but

I have Norma's respect for you and I

don't feel that way about everybody I

like everybody

I don't respect everybody you deserve

the respect because you go deep most

people are really they're surface level

and what they do so excited to chat with

you and see what can come out this comes

thank you for sure and I have of course

a bunch of self-interested questions

that I think will also be interesting to

other folks hopefully but what's all

impressed me about your entire career

and the results that you've achieved is

how far you've been able to take it in

terms of working with say the top 1% of

performers in the world and I read in

your your new book which everyone should

take a look at we'll be delving into it

a lot more as we progress in the

interview but there was a quote from mr.

Benioff all sales force and who credits

you with effectively if there were no

Tony Robbins there would be no sales

force.com would be quite quick to make I

don't think it might have told me

exaggerated but he kind of walked me

through this it started very much like

um ah on the freeway it's no good

Valerie every day listening and you get

these you're able to reach such a high

caliber of individual when you meet with

such people whether they're presidents

athletes like Serena Williams Agassi

actors like Hugh Jackman whoever it

might be Benioff Scott was you know Tony

said to me that the quality of my life

was the quality of my questions so what

I would be curious to know is when you

meet with these top performers where do

you start what are the questions that

you ask them well I ask questions for I

meet them the question I want to ask

before I meet them is who are they what

are they made of what are they after

what's preventing them from getting it

where their wounds was their deepest

pride not in a negative way like what

are they proud of how to find as much as

I can in advance so that I can be really

effective and efficient when I meet them

when you meet somebody yourself myself

the most valuable thing we have is our

times I try to be beyond respectful of

that but also I load my brain with all

the distinctions I can so they want to

enter into an interaction with someone

more engaged I have a disproportionate

amount of information ideas insights

wisdom available to me and then I can

react to what's really happening in this

moment so I have what I think in advance

and then I have what what the moment

shows me and I I think the blend of that

is really valuable because in the moment

people can show up on all kinds of ways

right you know something to show the

meanest person on earth can be kind in

the moment yeah the kindest person could

be very mean in the moment right so I

really I liked I liked to grab both

those and then

do when I meet them is I want to try and

understand what is it that they really

need not only what they want right

because what you want I'm sure you've

experienced this I have my life gotten

what you want then you're like is that

where is like what the hell because what

really makes us fulfill human being is

what we need and there's only so many

needs so I dig under what the needs are

I look at what's their model the world

how they approach meeting those needs

and every model has limitations and

challenges mind yours anybody's and so

that tells me before I even meet them

where the real challenge is and that I

listen for what the surface challenges

and my goal is all the surface challenge

but also give them more than they

bargained for solve at the deeper

challenge ultimately my goal is that

they have a greater quality of life and

most people I work with have an

extraordinary life they may not realize

it they may have forgotten it I know

lost track of it unless I'm doing with

somebody which I also deal with who's

you know coming back from Afghanistan

with PTSD and they got light sensitivity

and they can't sleep at night they wake

up in cold sweats and they're shaking

while they're talking to me that's a

different game boom you know that's

something's got to be dealt with in a

different way but when you're talking

about peak performers their challenges

are usually they're hungry for more

right that's the nature probably people

listening to this there's a list of Tim

Ferriss there to listen for more it give

me something beyond what everybody else

is talking about and then you're always

seeking to try and find that by not

limiting it to yourself same as myself

let's go find whoever's best in these

areas and what I pulled together and

let's find the organizing principles

that codify this so I'm looking to

figure out you know what is that more

that they want and or what is it that's

stopping them and then I I go into the

experience and just absorb what's there

and the combination the two is how I'm

able usually get pretty extraordinary

results but without the prep when most

people know about me is the level of

prep on you right like I can get up and

my pinky do six days in a row without

you know I know turning that nature at

this stage that's not intelligence

that's experience that's a 40,000 hours

not 10,000 hours you know over the years

but I still prep because I what I do is

I activated my nervous system that

knowledge base of what I want to be able

to serve somebody with I try to bring

that to the surface so it's readily

available it's the difference between

emotional intelligence and what I call

emotional fitness emotional intelligence

is the key intelligence is the

capability to deliver something Fitness

is the readiness to be like that

happened so I am

stood in being emotionally fit or being

emotionally fit for that person in the

moment and when you when you interact

with people for instance Paul Tudor

Jones because legendary investor in

trader or Agassi or anyone who's at the

peak of their game and suddenly enters a

slump yes what are the commonalities if

any that you've spotted in the best of

the best

who then cease for a period of time

being the best of the best what triggers

that type of downslope everybody's got

different triggers there's some common

patterns one pattern is doing so well

that you go beyond your vision and you

know it's the astronaut syndrome you

know what do you do when you've you know

you're 31 years old you flew to the top

of the mountain right on top literally

look back at the earth inside the

picture we've all seen photograph come

back shake the president's hand have the

ticker tape parade okay now what he do

with the rest your life right and so

most those astronauts of you know their

histories they went through some really

tough times somewhere alcoholic some got

addicted to prescription drugs and so

you know in some cases that's why enter

people's worlds as they've done so well

they've called the market you know

almost hour by hour or a week in advance

and they made more money in a day than

most people have ever dreamed of when

everybody else lost their shirt and

everybody want to know what to do okay I

have done that now what do I do after

I've called the market during the worst

day in history you know most people lose

momentum men or they get distracted

because it's like we need something to

go for we all need what I call a

compelling future something that will

get us up really keep us up late and

excite us the least nature of a high

performer and if you don't have that

life feels very dead for those people

and so you know be present eight states

and ever Bill Clinton spanked me I was

with him in Aspen and I was there a

fundraiser and asked me to come visit

him and they threw me in the cards come

down the hill with me was on those

serene moments in the lights of flash

and would come down Red Mountain and

Aspen if you know the area and he said

crossing me that's right after the blue

dress incident to come out and he's a

Tony and it's just like I'm still so

young he said you know what am I gonna

do when I leave you know what I'm gonna

do my 50s that's the wildest thing as if

I were you I get the hell out quick

because he's talking about you know I've

run a third time if I could I was

teasing him about it but

he found a compelling future bill cuenta

de as something even greater in his life

that he's going for so the slump shows

when people outrun their vision or the

slump can show when they meet their

vision but it's not fulfilling or the

slump shows when people just end up

developing some patterns they're unaware

of that cost them and this can be so

such a small thing with an athlete that

can occur and sometimes it shows like a

Tiger Woods when something happens in

their emotional life and while they try

to say I'm an athlete here and I'm a

human being over there they don't

separate and so what I got to do in

those situations regardless of what

triggered it is I've got to come in and

get them to re-enter in their nervous

system what made them so effective and

you understand Milan the idea that the

more you do something the more you why

yourself it's like the myelin of the

white portion of the brain it's almost

like using if I do something over and

over again

I literally wire myself with this myelin

I'm it's like having high-speed you know

cable in there whatever the appropriate

I don't know what it is anymore

high-speed really is these days the

proper term but versus you know having

dial-up if you have something opened

over again you can process so much more

rapidly so I will find where is that

myelin and that person what specific

pattern will hook them back up again to

that part of their brain where it's

effortless to that part of the brain

where they in state and they don't even

think you know Andre Agassi was decades

and decades ago you've been number one

in the world and all sudden he dropped I

was number nineteen or something at that

stage it's like 90 91 92 whatever it was

and and nothing worked and nothing

worked because he kept working on his

swing and he kept working on his wrist

and he was really upset with his father

who was his coach there was all these

dynamics going nobody wants to talk

about he was actually the point he

chaired later on but he was thinking

about quitting you know playing the game

this is really early in his career and

you know he's gotten injured and Andre

is very frustrated and Brooke Shields

brought him to me they were just dating

at that time and said I don't need

positive thinking he said you know what

you know Tony's not positive thinking

he's going to show you these strategies

so he comes to me I sit down with him

and I said I said Andre he's telling me

about how he's doing this I said think

of a time he hit the tennis ball

perfectly I said don't think about go to

it I got him in state got him cut in

that place where the my lens being fired

off and then I said to him

feel that you feel that yeah gelsen were

you thinking about your wrist this is no

I said how the hell would you think you

would ever get back to that people are

focusing on your wrist right so I've got

to get them back into the pattern that

made it work and then oftentimes I've

got to help them resolve some other

issue that's distracting them that is

something else in their life that's

pulling and pulling them apart from peak

performance his story is an amazing one

open the autobiography is one of the

well I've ever read that's why it's such

a fantastic book just looking at the

longevity of your career the the scope

and scale of the Tony Robbins Empire so

to speak thus your endurance has really

impressed me and so I'm wondering after

these decades

what are your some of your daily

routines for instance what do you

typically eat for breakfast it's up to

you yeah I have salad and fish it's like

standard I'm boring as hell because I

just know it's fuel yeah um that now I

before I met my wife we've been together

more than 15 years

I was completely anal I was like I met

chocolate I had a net ice cream in like

15 years right I was just just crazy and

then she came into my life and I forget

I thought god this woman's incredible

she's a phlebotomist she does the blood

she's an acupuncturist

she's a nutritionist having these green

drinks and we had this lunch and that's

where she ordered a hot fudge sundae and

I got what and the hell are you doing

just living you bastard so she loosened

my ass up just a bit because I loved her

so I you know she calls it zigging and

zagging we Zig zig zag and then she zags

or we zag and when I was first with or

is like your Zagat we were traveling

through Europe you know Rome Italy and

you know various parts of France south

of France and it's like you know you

seem to be sagging every day it was well

I'm on vacation and then later on we

were traveling some I said you know the

problem is we're always traveling so the

girl is on vacation but she said is how

a great shape but I am fish fish and

then and salad I'm I'm a high greens you know

know

protein type of guy very low carbs and

my but my regimen is I start with

something to strengthen a jolt my

nervous system

every second day I well sometimes he's

into and I'll go in the hot pools and

I'm fortunate that multiple homes my

home and Sun Valley have natural hot

pools that come out of ground to

steaming hot and I go on hot pools and

then I go there in the river here I go

in a 57 degree you know plunge pool that

I have and I put every home I have every

Sony agent immediately upon waking and

waking up it's just like boom every cell

in the body wakes up and it's also just

like training my nervous system to rock

that there is no I'm sure how you feel

this is how you perform what's what you

do even when a big vacation I do it it's

just I don't know now I like it it's a I

like that that simple discipline that

reminds me the level of strength and

intensity that's available any moment

even if I'm relaxing I can bring that up

at will its Milan I also have a

cryotherapy unit all my films are if

you've tried crowd therapy I haven't

you're it is uh maybe you could wait a

minute I can I can put the two words

together and I probably get my god but

all that you do you're gonna love this

I'm surprised I'm glad I'm teaching Tim

Ferriss up adventures I'm not the first

time I said suck I smell sucked recipe

I'm on stage in a weekend I do mind at

least I was in program three days it's

50 hours yeah you have been to then I

gotta come as my guest on events um I

would love to the but I'm gonna give an

idea people won't sit for a three-hour

movie that somebody spent 300 million

dollars on and I got like Usher

Oprah going on you know Tony I love you

but two hours most like you doing 12

hours later you know Oprah's standing on

a chair going this is the most

incredible experience of my life on Cameron

Cameron

I should like dude I'm in for all three

days but for me one of those days alone

I wear odometer and I'm Fitbit that's 26

and a half miles on average Wow

we start at 8:30 in the morning I finish

at 1:30 or two there's one one-hour

break people can vote with your feet no

one leaves

you know there's on average 20 minutes

of just crazy ass standing ovations

music stuff that happens the youngest

people are just it's like a rock concert

it's so much fun but the wear and tear

of doing know basically marathon after

marathon at the marathon on the weekend

and back-to-back it's pretty intense and

so over the years like the inflammation

my body the demands I've had do

everything to kind of reduce it nothing

has come close to go out there but

cryotherapy was developed in Poland and

eastern Germany and the Eastern Bloc

countries and what it does is it uses

nitrogen so there's no water and unlike

an ice bath what you're doing to get

spasms and you've got to do and still

write you're a boxer you're a runner

you're an athlete which is what I would

do before hated them

there's no none of that process but it

reduces your body temperature to minus

220 Fahrenheit and you do it three

minutes and it's mind-boggling I'm in

fact I happen here and I'll throw you in

at the end if you want not as we love to

dance I have a unit here I'll go for it

but what it does is and I do about three

times a week usually not and when I come

back from event I do it you know a

couple days in Rome and what it does is

it takes all the inflammation out your

body and you know what inflammation does

to every aspect the body in the

breakdown but it also it's it sends

emergency signals to your brains like

resetting your neurological system

because your brain going you're going to

freeze to death

it sounds horrific it really isn't

you'll find out it's not that painful

going in my cold plunge a 57 degrees

feels more jolting than this does even

that's cool even though it's colder

because you know the fluid of water

versus the nitrite is different right

the comedy the conductivity exactly

right and so but what happens is your

nervousness gets a signal so it's like

everything your body connects because

it's like emergency every part is a

reset of your nervous system you get an

explosion of endorphins in your body

which is really cool so you get this

natural high you feel this physiological

transformation and you get the reduction

of inflammation what it was used for

originally is for people with arthritis

and I found my first one because my

mother-in-law was be calling up and she

was just crying and pain and no

medication was enough for her and I hate

somebody medicated anyway and so I

started doing this research and it just

started come to the US and now the LA

Lakers most football teams that it's

spreading like wildfire amongst the

sports teams and so that's where it took

off so I went got her one and I mean

took her I think three sessions and

she's out of pain and now there's no day

she's in pain now most people can't

afford to go by unit but there are local

places now they're popping up all over

the United States where athletes go

where people go where people go for

adjuvants amazing to the skin but it's

one of the great things I got at first I

got it for me and then now I'm addicted

so I've got one every three minutes what

type of unit do you know the actual

model and Brandi oh yeah there's two

them the best out there it's was a Java junkie

junkie

Ju and ka I think it is I'll get it for

you my ground stairs and I'll put it in

the show nets for the

everybody wants to do it but also like

if you're in LA there's there's a place

there on I'll give to you putting your

nails couple of locations there there's

some great guys I'm getting another unit

this is brand new home so I'm building a

you know an additional guest house and

ditional slides can and so forth I'm

going to eat it though that's better

this one it just goes up to your neck

and but I'm getting one that encloses

you a full room and the reason is about

70% of your Nerf's receptor so from the

neck up so when you step into one of

those it's even more powerful but I do

not undo much unique or different with

my life I believe entirely I'll keep

digging but the so you have the either

the sort of contrast therapy that you

mentioned the household the cryotherapy

yes you have salad and fish yes out how

far after so what is if you were to kind

of speck out the first hour of your day

well the first the first everyday I do

the water I take in the environment and

then the first thing I do for I do

anything else my days I do what I call

priming and priming to me is different

than meditating I'm never really a

meditator per se I know the value of it

but the idea for me of sitting still and

having no thoughts just didn't really

work out for me I was just a pain in the

ass and I just thought it's not natural

right is like that's what works but when

I'm in nature I feel that for meditation

when I stand on stage and someone stands

up and my brain it's done I only know

what it is but person suicidal I've

never lost the suicide for example and

you know 37 years not going to what does

it mean I won't some day but I never had

a thousands and we followed up with them

so it's like there's something that

comes through me and it's and it's quite

meditative it's like I experienced it as

a witness you know afterwards it's one

of the beautiful gifts in my life so I

know that meditation um but for me we're

planning is if you want to be have a

prime life you got to be in a prime

state and you know weeds grow

automatically I don't give a damn what

it is it might teach Jim Rohn just to

say that and so what I do is I get up

and I do a very simple process I do an

explosive change in my physiology I've

done the water already right cold hot

then I do it with breath because I know

you know all forms of Eastern meditation

all understand that the mind is the kite

and breath is the string so if I want to

move that kite I move the breath so I

have a specific pattern of breathing

that I do I do 30 of these breaths

and I do him it three sets of thirty

that creates a profound physiological

difference in my body and from that

altered state I usually listen to some

music and and I go for I promised myself

ten minutes and I usually go 30 and you

get that misremember sitting I know I do

it all of this one room is where I do it

this has got a great vibe I'll do this

one I do it at night I usually will go

outside cuz I love the wind on my face

and I love taking the elements and so

forth but I do it multiple places I'm on

the road I do it doesn't matter what day

only that I do not miss priming the

reason is I'm not but you don't get fit

by getting lucky you don't get fit by

working out for a weekend you know you

live your life that way fitness is

because it's becomes just part of who

you are so what I do during that time is

I do three simple things and I do it

minimum ten minutes three minutes of it

is just me feeling getting back inside

my body and outside of my head feeling

earth my body experience and then

feeling totally grateful for three

things and I make sure one of them is

something very very simple the wind on

my face

you know the reflection of the clouds

that I just saw there but I don't just

think gratitude that like I let

gratitude fill my soul because when

you're grateful as we all know there's

no anger it's possibly angry and

grateful simultaneously when you're when

you're grateful there is no fear you

can't be fearful and grateful

simultaneously so it's it's a I think it

is one of the most important power

emotions of life and also up to me

there's nothing worse than an angry rich

man or woman you know somebody's got

everything and they're pissed off when

it's right only high number that it is

because they they develop a life that's

based on expectation instead of

appreciation agreed and I tell people

you want to change your life faster than

trade your expectation for appreciation

you have a whole new life so every day I

heard that in and I do it very deeply

emotionally then the second three

minutes I do is a total focus on feeling

presence of God if you will however you

want a language that for yourself but

this inner presence coming in and

feeling that heals everything in my body

my mind my emotions my relationships and

my finances I see it as solving anything

needs to be solved I experience the

strengthening of my gratitude of my joy

of my strength of my conviction of my

passion and I just let those things

happen spontaneously and I focus on

celebration and then service because my

whole life is about service that's what

makes me feel alive

so I flood myself with that with a

breathing pattern that I take that does

the opposite takes the breath down

through my body and back up again and

then the last three minutes are me

focusing on three things I'm going to

make happen my three two three and I

have some big things that I'll do and

sometimes I'll do things that are

smaller but I see them filled and

experience them so it's a really

simplistic process ten minutes but I

come out of it in my power it doesn't

matter if I had two hours sleep I'm now

ready you know it doesn't and I do this

even I have no sleep that's how

committed I am as I say I've always said

there's no excuse not to do ten minutes

I mean if you don't have ten minutes you

don't have a wife right and that's how I

got myself to do it and now that I've

done it you know twenty to thirty

minutes is almost always what it is

because it actually feels extraordinary

and where can people learn more about

the breathing pattern or could you

describe it I'm putting a link on why

because I just started to share this

just recently and I'll get it for you I

don't know what has not taught me yet

but they'll be up shortly I think this

week okay awesome and I'll also put that

in the show notes guys so that's just

for our workweek comm forward slash

podcast and you'll be able to find this

episode only I have to ask what type of

music do you usually listen to well I

have a variety but for that meditation I

have one in particular which is a

oneness meditation that a friend of mine

made it foods from India that I find

really profound as no singing and

anything like that is just the sound of

a vibration that's going on and I just

love it but that's what I'm doing

currently in the past over the years

I've used all kinds of different piece

music but I don't use modern music or

pop music or rock we I just have to work

out you know rap I know it just feels

weird to be doing rap while you're

meditating but again what's Dubin is I

don't leave this meditation because I

look at it as it's the priming courage

love joy its priming gratitude it's

priming strength it's priming

accomplishment it's priming you know

when I'm doing my gratitude piece I'm

doing the circle of who's closest to me

and you know circling that out to

everybody I love and sending that energy

and healing out to them as well so to me

that's if you want primetime life you

got a prime daily well I like I like the

term priming also because I think that

most people who struggle with meditation

or even attempt to use meditation are

utilizing it for that purpose they're

doing it first in the morning and you

know when you said if you have 10

minutes you don't have a life right of

me of something that Russell Simmons

said to me which was if you don't have

30 minutes to meditate you need three hours

hours

and I don't always do 30 minutes but I

do meditate in the morning and it's been

a canary consistent pattern through

among all the people that I've

interviewed so far on the podcast really

practically a hundred percent well

that's one uh and of course we'll get to

Ray Dalio but yes also very avid

meditator he's coming with me to India

in a couple weeks well that'll be an

amazing for a week of this experience oh

mazing so the when people hear the name

Tony Robbins I think many different

people have different assumptions or

images in their in their heads what are

the biggest misconceptions or the

biggest misconception about you oh my

god tell you so many right that's how

you talk to you know when you've been in

the culture at any level for any period

of time people put their projections out

to what you are and then also you know I

didn't help myself I did infomercials at

a time but you know I didn't want to do

infomercials there's just I had these

insights and skill sets and I didn't

have it if I was a great singer which

I'm clearly not there was a distribution

channel right I could do that if I

wasn't bullshitting myself I could rock

the world but in my world was write a

book which must be put on read go do

some speeches so I looked around saw

these silly-ass infomercials and I said

these guys are a disaster

Tommy vu come be on my boat watch me get

these women and I'm rich and I'm like oh

my god it's disgusting so I thought you

know if you really did something that

was real and the kind of people I reach

you know I'd like to pay for

endorsements they'll do it you know

maybe people start to understand this is

real and maybe they help me reach people

and it did it got me Bill Clinton that

got me prince panat got me I got me a

pretty amazing group of people Penn

State but also you know my the company

keeps so when you're between spray-on

hair and you know you know whatever it

is you make diamonds but you know then

you you know you've seen as that and

also I talk fast I'm a passionate son of

a and so I'm not talking about

shows I'm dressed cells I'm talking

about cuz my brain functions that speed

right that's how my brain goes slowing

it down is just so boring to me I

brought the faster I go the stronger my

brain becomes the quicker I come to

solutions so you know when I'm most

excited I want to serve people it speeds

up so that helps when you've got a room

of people where you can move and

modulate that energy but when you're

seeing somebody on TV and they look like

they're crazy sombitch in their six

seven and they got hands big

than your head you know you start going

you know who is this guy with the people

that have actually like yourself or Marc

Benioff or you know President Clinton or

whoever who you know actually entered

into my work once they entered in my

work they go oh my god this is very

difference I think most people think in

a commercial guy or salesman or a

motivator I mean I hate the word

motivate is the bane of my existence

because I've never been that I've never

I don't believe you should just go pump

yourself up I believe in intelligence I

believe see things as they are if you

can see his yard you can't lead alright

but don't see it worse than it is you

got an excuse not to try that's what

most people do they make it much worse

than it is because they're afraid of

failings they come up with a reason why

a story why it's not there and I don't

tolerate that I'm not the guy that

says there's no way there's no weak

something I go let me show you the

goddamn weeds aren't less police every

is out right now stop bullshitting

let's do it you know I'll do it with you

that's my approach I think most people

think it's a public approach because you

know the media sees 10,000 people in a

room and they're jumping up and down and

you know you know what is this piece so

that's because I believe that learning

that the I believe what I do for people

at its essence when I do events is he

cubed them

EQ biz I entertain them first because

people in our society want to be

educated but they'd much rather be

entertained so if I can rock you and get

you to have an experience where you feel

fully alive then and doesn't matter who

you are you're you know you're from any

stage of life any socio-economic

background then I'm gonna I'm gonna I'm

going to be able to have your education

go deeper and then so that's the second

part I give you the best education the

best tools and the third one is I

empower you while you're in this date I

get you to do things that you won't

forget two things that will be in your

body do things that create momentum so I

think the misconception at least my

perception is they don't realize I'm

really a strategist I mean I consider

you a strategist and I know your

inspirational everything else but being

inspiring is nice you know it's like

motivation is nothing wrong with it it's

like warm baths you should take one or

you stink you know but but but that's

not enough that's never been what I've

been about but you know most people in

our society our interesting days like if

you're looking to improve yourself

people in our world think that's natural

the average person's like what's wrong

with you I remember I had the I took a

company public when I was what 39 years

old had really wonderfully had 40

million bucks

extraordinary and the man who ran my

company been the former CEO of CBS

brilliant guy brilliant guy Peter and

Peter at one point while were in the

midst of this company he said I want to

go to Harvard I want to take this

extension course you know very wealthy

guy but head of the largest networks in

the world and now heading up my company

and I remember three or four people like

well it's a matter why is he doing that

he lost his agile it's like versus life

is growth baby if you don't keep growing

you're gonna die I didn't you know but

those people are afraid of the unknown

they're afraid of I'm not looking good

I'm afraid to fail and so that creates a

challenge but so I think the answer

question is they don't know I'm

strategist they don't know how much I

really care they have no clue the depth

of what I teach or the diversity when I

teach subject your body your mind your

motions relationships your finances they

don't know the real impact or they don't

know who I really work with you know the

assumption is he's taking over weak

people's minds and pumping them up and

giving him all systems upon them that's

crazy but but I'm not here to try

to dispel that what I try to do is the

reason I'm still here is the more people

you touched the more you reach I don't

have to do that the people have been

through my events are the greatest

people to balance that out in social

media it's been really wonderful because

people say well this what this guy isn't

twelve other people go you've never had

experience let me tell what this really

is about that's really been a wonderful

handsome it to my ability to reach

people with social media no I just to

reiterate something you said about

inspiration being necessary but not

sufficient I think that like you having

the label sort of motivation or

motivational speaker applied to what I

try to do is very frustrating because

one of the things that differentiate

with that label of YouTube oh yeah I

don't know it's just an easy label to

throw right now it's like what else it's

like well I'm not going to read the book

so I might as well find a label that I

can understand and you know I was going

to say at least you get an infomercial

but at least you weren't selling the

4-hour workweek on those infomercials

you have twice the level of hell that

you already get but the the the the

difference in your material because I

really want to better myself when I was

hitting some very rough spots in my

first year out of school

and the difference between say personal

power and a lot of your other material

including the new book on on money and

finance and investing which you guys at

some point I'll try to share some of it

with you but I have I would say probably

20 to 30 printed pages of notes in

Evernote well just on just on I still

have about 50 pages left but it's it's a

big book we'll get to that I was calling

giving you a pat on the back it's like

Oh another 600 page book I know how

these go but you give very tactical next

steps at the proper time so you you you

do sugarcoat the medicine a bit by

getting capturing people's attention and

not to make this Glengarry Glen Ross you

know AI da but you you have to have

those elements in the proper sequence or

you can't elicit action from people

that's right and that's something that

you've got huge you've been very

influential on my teaching which is how

I would view my writing because of that

model and so if you look at say the

4-hour workweek is one instance the

reason that I have these comfort

challenges at the end of each chapter is

because I know I'm going to have big

asks later and I want to condition

people yes to take action I think that

your materials it means some of the best

in the world I've ever seen in that

asset II I want to say some of what you

said because it's really important and

you're the few people I've heard

actually notice it and I've noticed it

in your work and I just I didn't know

what influenced by me anyway I'm

complimented by that but I think you

probably got there on your own just by

the nature of your thinking the dog bit

Johnny Johnny bit the dog same exact

words different syntax totally different

experience specially if you're Johnny

and people don't realize it sometimes

when they think on thirty pounds

overweight and I'll never get this I've

tried everything or I've you know my

knife on every relationship sucks you

know how do I end up with men or women

like this or you know this is my third

business and I'm still not there and

I'll say that's going to happen they

don't realize that victory is near and

the reason is it feels like a million

miles away and they're doing the right

things but at the wrong time or they

were doing the wrong things you know

they're doing the right things the wrong

sequence you know I mean so there's

timing is so and I want some of

you and I know we can't control some of

those freaking luck but the more you

study how things grow or the bee

organizations or human beings or

families or communities or the way in

which people you know study ontology or

study of knowledge there's a sequence

it's like I know somebody's phone number

and I dialed the wrong order I don't

reach them but I do that same exact

ingredients the right over and that's

what people need very often often they

just need a slight twist and they don't

know it and they give up and so my part

of my passion is to help people find

that two millimeters you know that

little tiny shift that changes it all

one of the people I have these people

that I've coached over the years that

are the best in the world at what they

do and and I'll take on clients who I

think by touching them I can touch in

mass number people that's I start with

Paul Tudor twenty one years ago and it's

turned out really well with his Robin

Hood group growing image giving away a

billion to over this time and the impact

that's had but one of these people is

one of the top two even idea facial

surgeons in the world and I remember

want to go see him one day for one of

our sessions and he was late and I'm

waiting and I'm no problem I'm busy and

the nurse says he's gonna be a while she

says he said dr. Hoffman said why don't

you come in and watch I said wow love

that so you know I get all scrubbed off

the whole thing come in he's got rock

and roll music in there and this guy is

like an artist and a scientist mixed

together the most powerful blend with a

giant heart and I go into the music's

blaring hey Tony hey he won't watch this

he cuts his like it lifts this woman's

face off I felt a little state change

and that's my god you know I stayed

around for a few minutes just you know

to put up that I can handle this

and I said you know I got a few calls I

got a fake so I go into his office just

use my office make a call so I'm

recovering in his office here a basket

and they're using uh I'm not a squeamish

guy without was I just wasn't prepared

right so I'm sitting his office and he's

in front of stage of life where you know

this is a guy that sultan of brunai paid

two million dollars to fly him over like

15 years ago 20 years ago to do to his

family's faces this is a guy that

anybody in Hollywood who had the money

he's in those days there's no

but him the best on earth because he

mathematically figured out how to

trigger beauty by what you and I would

call sub modalities like I'd Chuck a

shorthand for you an NLP term right

those little triggers in the visual

triggering device that effect

kinesthetic change in human being and so

I'm sitting at his desk a he's got this

manuscript so I'm curious and then he

was working on and he wants to finally

teach other surgeons because he sold is

one of just himself anymore

he wants his material not to die and

he's got a hundred and maybe 150

pictures the most beautiful in the world

the last twenty years across culturally

around the world stars movie stars

different countries they've got the same

thing for men and then he's got his

drawings and he showed that just ironic

he goes through these shows that he

makes no more than seven changes ever

and the biggest change he makes is two

millimeters and yet I saw an 84 year old

woman look like she was an early 50s and

gorgeous and that's all the changes he

made on her I'm telling you it's

mind-boggling and for example he knows

that the measurement of the pupil of a

woman's ID you measure that size and you

measure the distance below your nose to

the top of a woman's lip is for only for

a woman if that measurement is smaller

than the people there i men when they

look at this woman's face are driven and

sexually attracted to her if it's the

same size of people there's attraction

if it's just two millimeters more she

has an average face if it's more than

two millimeters more her face is what he

calls but as ugly that was a technical

term used at that point but so when I

taught whether this like start measuring

their eye hits them so he makes this

little change and it creates that

puckered feeling that men don't even

know why it's instinctive it's just a

triggering device that's instinctual

them so he knows the seven he knows the

two millimeters and of like you take

somebody 8450 and looking pretty out

high and maybe up to a twenty role put a

30 or 40 or 50-year old certainly

mind-boggling so I've always like it's

like golf right you know two millimeters

the difference between you know shanking

way over here I'm putting it on the

green so that's the whole thing victory

is near but you've got to know that very

often syntax is all that has to change

there's nothing wrong with you there's

nothing wrong with the core ingredients

got a sequence of different yeah so you

mentioned a few things the first is that

hand bigger than someone's head or face

I think that for everyone listening at

some point I would like to see if you

can actually palm

face and I'll put that out on social

media cuz I'm pretty sure that you can

and I'm sure everybody would love to see

they're probably a lot of people

listening you don't like me very much I

would like to pull my face so Tony will

step in for you later

the I'd love for you to mention a little

bit about the new book and just sort of

a very basic overview and then I have a

bunch of specific questions because this

is the first book in 20 years

where's 20 years and I've read pretty

much everything that you've put out that

I'm aware of

yes and I guess part of me thought a few

things when I saw that this book was

related to to money and also referring

to it as a game in some ways I thought

number one what hasn't already been said

there's so many books with the problems

there's so many books on money and I

think that perhaps undeservedly so I

feel like I understand a lot as it

relates to investing and money and I've

read David Swensen I've read about his

allocations I've read the annual letters

of Warren Buffett I read the letters to

shareholders from people like Howard

Marx or other hedge fund managers I know

some of those guys so I saw a couple

names pop up that I recognized and I was

and you send the very beginning the book

and this is I've tried to do stuff like

this in the past so I realize how hard

it is you're trying to write a book that

the the neophyte someone who's never

taken their finances seriously will

derive a lot of value from and yet at

the same time you say even very

sophisticated investors will be able to

get a lot out of this book and I thought

to myself well boy this is really

talking a big game and uh the I mean the

interviews at the end of the book alone

are worth magnitude of order more than

the book itself me about Bogle you've

got Ray Dalio

who runs that believe it's still largest

hedge larger cells from the world

largest mutual fund with Bogle Arts

hedge fund with Ray Dalio a Carl Icahn

who's you know Time magazine put him on

the covers master of the universe

this guy that sends out one tweet and

Apple goes up 17 billion in an hour

that's up 50% I was out use that do it

and today I don't know if you saw Carl's

quite a character ya know that two

things one

coming what you said that's the

challenge I love when I do my business

mastery programs I bring people in from

usually somewhere between 15 and 30

countries I translate four or five

languages there are different financial

systems but business the psychology and

the strategies of business

it's a worldwide game yeah and as I

bring people in there that are brand new

they come in like just start a business

and you got people in there like home

acts largest home builder Mexico is when

my events you know a billion dollar

business and I they credit me with seven

or fifteen million dollars increase in

two years I was doubling the business

and I take this chiropractor or this

dentist you know an army of three and so

I'm gonna W business in six months so I

love that challenge of how do you get

both and it's not easy to do area that's

far I think we pulled it off and pull it

off primarily because of who I not me

doing the teaching it's me going the

best unearthing getting them some

you only the same thing um you know

people said why did you write a book in

20 years and how you've been doing well

about every four days I'm an airplane I

see a quarter million people a year in

15 countries that's what that I'm doing

and I love I live for that environment

the rawness the aliveness the every

moments on the stage you never know

who's gonna stand up you don't know what

the challenge is gonna be I mean that

feels alive and also it's just real and

it's now and if it's not working

fricking change it who cares but I got

to write this I did 20 years ago

I'm sitting still and I'm at first oh

well makes me crazy and then number two

you know you took like my hands my music

my voice my face my intensity and now I

just got written words which I clearly

might have skilled that but when I

conjugated I am but I also go this is

immortal I can't improve this you know

it's like what you write the it's

done so I've avoided it like the plague

and then also most people don't read

frankly yeah it's true they read blogs

you know it's like most people I can see

a generation looking at this book it's

600 in what 30 pages right but it's

these seven steps so you can do a

chapter a day thirty days you got a

different financial life that's work

you're crazy like what you'll do in the

weekend you know but what's interesting

is they'll say you know why don't you

put this in a blog you know why don't

you put this in an infographic mastery

doesn't come from an infographic what

you know it doesn't mean yeah what

do you do consistently and you got to go

through stages of understanding

intellectually which anybody can do but

you got to do and you got to get word

there's nothing

emotional intensity attached that

understanding that you actually do it

and you got to get enough consistent

vocals that gets in your body not two

feet about it it becomes who you are and

those stages of mastery require it's

like I I took Taekwondo I didn't want

Taekwondo I wanted to learn Aikido

because I was a beautiful art you know

and I like the idea they have to hurt somebody

somebody

ten people attack you at once and it's

like wonderful heal so I learned some

Aikido but I had the privilege of being

exposed to grab Master June Rhee who

brought Taekwondo to this country any

trained Muhammad Ali and he trained

Bruce Lee and his back you punch and so

forth amazing history and a beautiful

man like the most happy human being ever

meet and he loved me and what I did was

touched by it and he said would you like

to do this and I was 23 24 so I said yes

but I must get my black belt fastest

time in human history and you must come

travel with me we will do this every day

I don't like you're insane all right I

read your book in two days it's like

completely insane so he came and I

finished being onstage at midnight or

1:00 a.m. and then I had to go train

from 1:00 to 4:00 and then I'd sleep

from four to seven thirty three and a

half hours four hours sometimes dey'd if

I could squeeze it get up and do my next

day I didn't ever you know nine months I

did get a black belt legitimately in the

shortest time history but I hated never

want to do it again but I'll never

forget I was doing these moves and it's

like she is 4:00 in the morning I'm

doing the same freaking move and I've

done over and over and over again and I

said mystery I said can we go to the

next move and he said grasshopper this

is the next move it on he started laughs

he goes the fact that you think this and

this is the same move is why we're still

doing it it's like I like but you know

what it was really true so I'm into

mastery and so what I really want to

make sure happen with people is that

that we got them to that place and when

I went to Simon Shuster there's a crazy

thing so I'm doing these events alumnus

I'm she's been begging me for a book for

decades a huge contracting that bigger

and bigger and I said only the money I'm

not doing with the money so they finally

came back and I what triggered me is I

saw this documentary called inside job

yeah great yeah Matt Damon did the audio

on it and it won all kinds of awards but

what's happened if you didn't see it I

really recommend you see it but I do

want to prepare you at the end you're

either extremely pissed off or you really

really

depending upon your personality and I

was pissed off because they show how a

small number of people basically put the

entire economic world at risk and and

when they put us near imploding the

punishment for that was to reward them

by putting in the charge of the recovery

printing more money and then taxing

everybody else on earth and giving their

money back just my it's the greatest

thievery that's happened in human

history and so I thought this is making

a because there's no solution and I

thought there's got to be a solution I

thought you know well I got access the

one thing I got access because I call

you know coach Paul for 21 years and I

mean he's never lost money in 21 years

and mine Bobby his company's never lost

in 28 years I was brought in when he's

having a tough time to help take things

to the next level and I thought I know

these people I know this process what if

I took with the ultra-wealthy nutball

out and brought it in so I think I got

this great strategy but assign Mystery's

wanted book forever the first thing he

says no way you get tell me know your

Tony no you know Jonathan's your brain

man turn to carpet study you don't want

to do this he goes people are dying for

a book on peak performance for you're

dying for a book on anything but not

finance this this category is a dead

carcass is what he said it's been picked

clean sandbender sailer I qur'anic like

so did the head of the financial

division he goes there's nothing new to

say I said that's because everybody's

attacked the same way I'm gonna go to

the people that know nothing platitudes

of the same BS he actually offered me a

larger advance to not new financial book

and I said what I'm not doing it for

that I'm in for this book and so now

he's really through which is really

wonderful in fact the head of that

division came back and said he said I

really thought the categories dead I had

the division he goes this is a wife so

I'm real proud of it but I think what's

great about the book is there's not a

word in there that's coming from me on

the financial side I don't tell you my

opinion who gives a with my opinion

is I want to write values opinions owner

Jack Boggs man I want no car likens but

no no no it Mary Callahan Erdos who's

head of JP Morgan and manages 2.3

trillion with a t I want to know her

opinion when it comes to the emotional

psychological side yeah that's my baby

for 36 years

those big nerds are clearly mine I'll

stand on them so I'm real proud of what

it is and I think anybody reads it will

be touched and I wrote it to empower

readers of all pipes but I also wrote it

because I was looking thinking about a vehicle

vehicle

or writing another wrong in my opinion I

think the system is clearly you know

guys you know if you read Flyboys or you

talked to Michael Lewis or anybody like

and they'll describe to you how

high-frequency trading today is so

extreme we've all heard about it but

it's just so extreme it takes 500

milliseconds for you to click on your

each trade and say I want to buy the

stock of Apple and you got guys that

have spent a quarter of a billion

dollars to straighten lines with using

Chicago New York so they can save 1.4

milliseconds and they're going to trade

hundreds maybe thousands of times they

know you're going after Apple they know

what to do to make money little micro

profits one of the H of T groups was

going to go public last year said into

their filings you know how many losing

days they had in four years and you're

not one one losing day in four years

it's front-running so the system's

rigged but even though it's rigged you

can still win that's why I wrote this

book I want you you can still win and

here's how to win and here's the people

showing you how to win so I want to

write that wrong I wanted people to have

an advocate but I also I'm pretty

passionate about take care of people as

society's forgotten and I decided in

Italy I wanted that like raise my game

they they cut eight point seven billion

dollars in food stamps last summer most

people didn't notice it it's equivalent

every family who's being supported going

without food for one week out of the

month for 12 straight months and I've

been supporting I've you know my family

was fed when I was 11 years old I had no

food family this man came by and

delivered a turkey and food he was just

the delivery guy changed my life and

made me believe strangers care so I

cared about strangers I've been paying

it forward and I've said 42 million

people in 37 years this year I'm going

to feed 50 million people and myself

personally I'd started what I'm gonna

dance the book I'm gonna I'm gonna wait

and sell books and see how it goes I'm

just gonna dance all that was like well

I want I don't want to do ten nine

hundred twenty million to thirty so now

I'm doing fifty million and I'm getting

matching funds I have feeding America

delivering the food and I'm getting

matching funds targeting a hundred

million people this year alone and then

I'm putting a system in place to sustain

to sustain that so doing this book has

been opening up doors to thinking larger

because when you're sitting with Carl

Icahn and he goes yeah I just closed the

deal today I made two billion dollars

two billion the day I was there after

only 18 months of investment where he

put anything every start was a small

number in net finet flex yeah I made it

that day and he's now putting all this

money in a polito's you know does it

little tweet and 17 billion of value

goes up right away or you're sitting

with Kyle bass who took 30 million and

turned in a two billion to two years in

the middle the sub-prime god you know

crisis and again tell me that's like

holy cow I mean I started learning

things which it changes the scale of

your thinking so I'm babbling here

because what I want people know is two

things yes I think this truly if you

give yourself the gift of this book it's

a category breaker but it'll show you

step by step but I go where you where

you want to be if you're highly advanced

you're going to learn out of the 55 plus

say 50 but is really 55 plus Nobel

laureate self-made billionaires henchmen

guys biggest in the world

I put the 12 biggest in the book and you

know I wanted these guys with a the

promise of a 45-minute interview of my

average one was three hours so I know

how you functions I do the same thing

but what was really cool but it's like

you don't go with a Carl and I get there

with Carl the first thing he does is he

throws the video crew out it's like Carl

what's the deal I never met her before

he's like no I said I just changed my mind

mind

like okay how did you leave you will do

the audio no I don't what the audio no I

want to do this interview take your

pencil and your pen here get over here

and I said I'll give you ten minutes

right and you know Howard your friends

and it's you know three hours later I'm

out you know pictures of you his wife

then you know and he said you got it

really you got a way to help change this

world you know at any doors of the book

and supports it so I want people to know

that this has been a four year journey

of going to the smartest people on earth

and finding out the vast majority of

them are incredibly genuine and wanting

the average person to do well they just

didn't think there was anybody who could

translate and when they saw that I could

and I could pitch and catch with him

because I knew eighteen hours of prep

before I sit down with Ray Dalio they

won't want to share things that they've

never shared before it later on me we

can talk about what I learned from my

dad it was pretty amazing oh yeah no I

do want to talk about Ray and

fascinating guy I mean I'm so

fascinating at the entire world I mean

whether it's and there's so many

different breeds this is something I

want to talk about but you have say the

Paul Tudor Jones for those who probably

haven't ever seen a very old

I think it's available like bootleg VHS

called the traitor yes is an amazing old

documentary you can find it I but you

can see his style versus say you know

the high frequency guys or a renaissance

yes at all PhD is right outside of wall

street's but and once and then you have

the the Ray Dalio types and all things

in common if you look a lot of different

strategies if it's summer let's let's

let's shake the tree of the corporate

guys and make sure we get more value out

of it right now Carl you know and some

guys are like Templeton I got dated him

multiple times for he died it's like

wait for it you know the bloodletting no

one the streets that's an advice on the

streets but it's like when maximum

pessimism hits that's when you make all

your money that's what he did and then

there's the guys like bold which is it's

the index baby and and Wednesday's even

more above it it's the index baby so

they hope you approaches but what's in

common I think is I tell you four things

I thought stood out and one is overly

simplistic and that's why people don't

pay attention to but these guys pay

attention to it they don't lose half the

Pico linking is not losing and they are

obsessed every single one is obsessed

they're not losing money I mean a level

of obsession that's mind-boggling and it

isn't just these investors you know Sir

Richard Branson for example you know

people see Richard and he's such an

outgoing playful crazy guy kind of

introverted that's hilarious but when it

comes to athletics and taking on

challenges he's out in the world but you

know his first question every business

is let's the downside now I protect it

right like when he did his piece with

virgin I mean that's a big risk and

start an airline

he went to Boeing and negotiated a deal

they could send the planes back of it

didn't work out he wasn't liable without

the lovelies guys think that so they

look to see how do I not lose money first because the average person has no

first because the average person has no clue if I lose fifty percent in 2008

clue if I lose fifty percent in 2008 well guess what you got to make a

well guess what you got to make a hundred percent to get even not fifty

hundred percent to get even not fifty percent because your principles gone

percent because your principles gone down so I should have like people don't

down so I should have like people don't understand you lose 60 percent it's two

understand you lose 60 percent it's two hundred percent to get even and so the

hundred percent to get even and so the average person you know lives in a world

average person you know lives in a world where they try not to lose money but

where they try not to lose money but they're not obsessed these are obsessed

they're not obsessed these are obsessed second thing you all have in common

second thing you all have in common every single one of them is obsessed

every single one of them is obsessed with asymmetrical risk/reward which is a

with asymmetrical risk/reward which is a big word it's simply

big word it's simply means they're looking to use the least

means they're looking to use the least amount of risk to get the max amount of

amount of risk to get the max amount of upside and that's what they live for

upside and that's what they live for so I'll give an example Paul Tudor when

so I'll give an example Paul Tudor when I first went to do the turn around when

I first went to do the turn around when Paul was having some challenging times

Paul was having some challenging times we broken his leg you know think about

we broken his leg you know think about this he did better than anybody in

this he did better than anybody in history of the world during the big

history of the world during the big stock market drop in history literally

stock market drop in history literally and then he went to the mountain he went

and then he went to the mountain he went to the moon now what and so lost a bit

to the moon now what and so lost a bit of the edge and you know got involved in

of the edge and you know got involved in other things and so forth and now he's

other things and so forth and now he's got a broken leg he's not going the

got a broken leg he's not going the office I got to come inside and go watch

office I got to come inside and go watch that film it's first thing I did I will

that film it's first thing I did I will light tennis shoes I wanted to go see

light tennis shoes I wanted to go see everything about him and study his

everything about him and study his physiology the way he used to move this

physiology the way he used to move this guy's not moving at all what his face

guy's not moving at all what his face was like I would breathe tone of his

was like I would breathe tone of his voice

voice what were the physical strategies what

what were the physical strategies what were the psychological strategy or the

were the psychological strategy or the financial strategies I got to go you

financial strategies I got to go you know to Druckenmiller and Soros I mean

know to Druckenmiller and Soros I mean the word got access to vac that was

the word got access to vac that was unbelievable see what was he like then

unbelievable see what was he like then to put the Planum together to do this

to put the Planum together to do this turn around and when I started making

turn around and when I started making those shifts in him and you can see the

those shifts in him and you can see the shift happen immediately they got really

shift happen immediately they got really exciting I got hooked on what was going

exciting I got hooked on what was going to happen so as I did this same process

to happen so as I did this same process basically guess what I was triggered I'm

basically guess what I was triggered I'm think about do things once I did the

think about do things once I did the same process during these interviews I

same process during these interviews I didn't just look at the trading

didn't just look at the trading strategies I looked at the psychology

strategies I looked at the psychology what set it up but here's what I found

what set it up but here's what I found with Paul to the very beginning in him

with Paul to the very beginning in him back on track when he was at his best he

back on track when he was at his best he made sure every single trade had what he

made sure every single trade had what he called a 5 to 1 that means if he was

called a 5 to 1 that means if he was gonna risk a dollar he wasn't about to

gonna risk a dollar he wasn't about to risk unless he was certain he was gonna

risk unless he was certain he was gonna make five now you're not always right so

make five now you're not always right so guess what if I risk it all to make five

guess what if I risk it all to make five and I'm wrong I can risk another dollar

and I'm wrong I can risk another dollar I still make four I can be ruined four

I still make four I can be ruined four times out of five I still break even

times out of five I still break even their secret is not the theta they're

their secret is not the theta they're not wrong if they set themselves up

not wrong if they set themselves up where they risk small amounts for big

where they risk small amounts for big rewards proportionally pull you know

rewards proportionally pull you know he's right at one hour three times he

he's right at one hour three times he still makes twenty percent so the

still makes twenty percent so the average person wrists a dollar trying to

average person wrists a dollar trying to make how much dollar 10-track about but

make how much dollar 10-track about but if I could get 10% Wow my dollar I have

if I could get 10% Wow my dollar I have 20% would be unbelievable how often can

20% would be unbelievable how often can you be wrong not very often not at all

you be wrong not very often not at all right you're in the hole you're starting

right you're in the hole you're starting from the hole you got to build back up

from the hole you got to build back up so they're a significant worth like I

so they're a significant worth like I was with Kyle Bass and

was with Kyle Bass and ass risk - check this out in the middle

ass risk - check this out in the middle of the subprime crisis he made two

of the subprime crisis he made two billion dollars out of 30 million

billion dollars out of 30 million because he risked for every six cents he

because he risked for every six cents he risked he had an upside of a dollar

risked he had an upside of a dollar six cents four hundred well you get me

six cents four hundred well you get me wrong 15 times and you're still looking

wrong 15 times and you're still looking at her I mean he was brilliant to figure

at her I mean he was brilliant to figure it out he's a genius figured out but

it out he's a genius figured out but that risk reward is why it is he showed

that risk reward is why it is he showed his kids he ties how do I teach us to

his kids he ties how do I teach us to the average investors in it and he said

the average investors in it and he said that well you could teach the laptop my

that well you could teach the laptop my kids and I said you know he goes

kids and I said you know he goes we bought nickels and so what do you

we bought nickels and so what do you mean you bought nickels he said well I

mean you bought nickels he said well I did research I had this question that's

did research I had this question that's another thing that all these guys did

another thing that all these guys did they ask a better question we talked

they ask a better question we talked about they get better answers right

about they get better answers right better quality question better quality

better quality question better quality answer what's wrong with me you'll come

answer what's wrong with me you'll come up with stuff how do I make this happen

up with stuff how do I make this happen no matter what they'll come up with

no matter what they'll come up with different answers so his question was

different answers so his question was where in the world is there a riskless

where in the world is there a riskless trade with total upside and he started

trade with total upside and he started looking around he said I'm worried about

looking around he said I'm worried about inflation so he decided oh gosh of all

inflation so he decided oh gosh of all the currencies in the world a nickel

the currencies in the world a nickel what it's made of today it's not made

what it's made of today it's not made mostly of nickel by the way he said it's

mostly of nickel by the way he said it's costing the US government nine and a

costing the US government nine and a half cents to make a nickel that's how

half cents to make a nickel that's how our government functions it was been

our government functions it was been almost ten cents to make something with

almost ten cents to make something with half as much right depending on plan

half as much right depending on plan yeah

yeah perfect plan so he said but you know

perfect plan so he said but you know what just the actual material value

what just the actual material value right is 628 whatever was six something

right is 628 whatever was six something six and half will call for round numbers

six and half will call for round numbers so he said if I buy a nickel it's never

so he said if I buy a nickel it's never going less than a nickel I should

going less than a nickel I should believe the US government's gone so I've

believe the US government's gone so I've got something that never goes down in

got something that never goes down in value so I got a guaranteed return you

value so I got a guaranteed return you know I'm not gonna lose my principle but

know I'm not gonna lose my principle but day one it's worth 36% more than the day

day one it's worth 36% more than the day I bought it

I bought it how many investments can you have a 100%

how many investments can you have a 100% guarantee of no Osun if 36% I said yeah

guarantee of no Osun if 36% I said yeah but that's melt value and I saw they

but that's melt value and I saw they passed the law a few years ago like

passed the law a few years ago like Charlie Rangel ever was this was what I

Charlie Rangel ever was this was what I pushed it through and goes yeah but Tony

pushed it through and goes yeah but Tony said that doesn't matter let me tell you

said that doesn't matter let me tell you why you said look at pennies when they

why you said look at pennies when they changed it from pure copper to 10 and

changed it from pure copper to 10 and all the things they've changed what

all the things they've changed what happened to the old pennies there's a

happened to the old pennies there's a scarcity of them and now a penny from

scarcity of them and now a penny from those days they're worth two cents it's

those days they're worth two cents it's a hundred percent more valuable so he

a hundred percent more valuable so he said that at some point the government

said that at some point the government cannot continue to do something cost

cannot continue to do something cost twice as much some point they'll make a

twice as much some point they'll make a change in the materials and then all

change in the materials and then all these nickels worth an unbeliever melt

these nickels worth an unbeliever melt so he said I just showing my kids here's

so he said I just showing my kids here's a risk

a risk you need think different than everybody

you need think different than everybody else don't think I have to take huge

else don't think I have to take huge risk for huge awards say how do I take

risk for huge awards say how do I take no risk and get your drawers and because

no risk and get your drawers and because you asked that question continuously and

you asked that question continuously and you believe in answer you get it so you

you believe in answer you get it so you know he said listen if I could put mine

know he said listen if I could put mine to convert my entire wealth and matrix

to convert my entire wealth and matrix that I do and I said you're insane

that I do and I said you're insane because I haven't say but it's the best

because I haven't say but it's the best possible fundamental investment he

possible fundamental investment he started telling me how to do

started telling me how to do he bought 40 million nickels Wow he has

he bought 40 million nickels Wow he has 40 million nickels goes up a room bigger

40 million nickels goes up a room bigger than this right there's the on the

than this right there's the on the ground floor yet his kids dragging them

ground floor yet his kids dragging them here else laughing have in front of you

here else laughing have in front of you this like the old treasures so he can

this like the old treasures so he can legitimately do like the scrooge mcduck

legitimately do like the scrooge mcduck backstroke painful and real say so so

backstroke painful and real say so so that's a summer school I'll give you one

that's a summer school I'll give you one more and I'll shut the hell up like

more and I'll shut the hell up like you're asking me that with it you tell

you're asking me that with it you tell me the difference is the one you know

me the difference is the one you know there are differences we've spent hours

there are differences we've spent hours now the difference is by the way things

now the difference is by the way things useful is what's a wine because then it

useful is what's a wine because then it gives something Universal that you apply

gives something Universal that you apply absolutely now the other one for them is

absolutely now the other one for them is they absolutely beyond a shot of a doubt

they absolutely beyond a shot of a doubt no they're going to be wrong you look on

no they're going to be wrong you look on these talking heads on television of

these talking heads on television of people screaming you and hitting bells

people screaming you and hitting bells and telling you what to buy and they're

and telling you what to buy and they're right right right

right right right the best on earth or a values right the

the best on earth or a values right the the pebbles that you know I don't give

the pebbles that you know I don't give it he'll you talk about you want to look

it he'll you talk about you want to look at Carl Icahn they all know they're

at Carl Icahn they all know they're gonna be wrong so they set up a NASA

gonna be wrong so they set up a NASA location system that will make them

location system that will make them successful they all agree asset

successful they all agree asset allocation is the single most important

allocation is the single most important investment there was one person in terms

investment there was one person in terms of your vehicle that was the most

of your vehicle that was the most important thing about how they attacked

important thing about how they attacked it asset allocation was the element

it asset allocation was the element there and the last one is they are their

there and the last one is they are their lifelong learners I mean these people

lifelong learners I mean these people are machines like you like me like Peter

are machines like you like me like Peter like most people you and I share his

like most people you and I share his friends they just are obsessed with

friends they just are obsessed with knowing more now because the more they

knowing more now because the more they know the more they realize what they

know the more they realize what they didn't know and then they apply that and

didn't know and then they apply that and they go to another level and every time

they go to another level and every time you think you're the best you can be in

you think you're the best you can be in anything in life your body or motion

anything in life your body or motion spirit your finances

spirit your finances there's always another level and these

there's always another level and these guys live by and the last one I thought

guys live by and the last one I thought almost all the more real givers not just

almost all the more real givers not just give her some surface like money givers

give her some surface like money givers that's wonderful but really passionate

that's wonderful but really passionate about giving and it showed up once they

about giving and it showed up once they saw what I was doing was legitimate that

saw what I was doing was legitimate that was really real that I mean then they're

was really real that I mean then they're opening up three hours at a time

opening up three hours at a time something whether these guys will never

something whether these guys will never get oh yeah I mean their hours are worth

get oh yeah I mean their hours are worth a lot

a lot I say no Heath thank you for supporting

I say no Heath thank you for supporting the sponsors of this show I've used them

the sponsors of this show I've used them I liked them and I think you will too

I liked them and I think you will too 99designs comm forward / Tim it's the

99designs comm forward / Tim it's the world's largest marketplace of graphic

world's largest marketplace of graphic designers you can see the projects that

designers you can see the projects that I've put up the competitions that I've

I've put up the competitions that I've spearheaded including the book cover of

spearheaded including the book cover of the 4-hour body and you can also get a

the 4-hour body and you can also get a $99 upgrade for free so check it out at

$99 upgrade for free so check it out at 99 designs com forward slash Tim of

99 designs com forward slash Tim of course you can subscribe to this show on

course you can subscribe to this show on iTunes you can also find every other

iTunes you can also find every other episode the show notes links from this

episode the show notes links from this episode at for our blog.com that's fo u

episode at for our blog.com that's fo u rho u r VL og calm and just click on

rho u r VL og calm and just click on podcast there's all sorts of other cool

podcast there's all sorts of other cool stuff including my interactions when

stuff including my interactions when people like Warren Buffett Mike Shinoda

people like Warren Buffett Mike Shinoda Linkin Park the list goes on and on and

Linkin Park the list goes on and on and on and I would love your feedback let me

on and I would love your feedback let me know what you thought of this show who

know what you thought of this show who would like to hear on the show next and

would like to hear on the show next and any other thoughts really you can find

any other thoughts really you can find me at twitter @ @ t ferrus that's

me at twitter @ @ t ferrus that's twitter.com /tf ER Riss and on facebook

twitter.com /tf ER Riss and on facebook at facebook.com forward slash Tim

at facebook.com forward slash Tim Ferriss with two R's and two S's until

Ferriss with two R's and two S's until next time thank you for listening

Click on any text or timestamp to jump to that moment in the video

Most transcripts ready in under 5 seconds

One-Click Copy125+ LanguagesSearch ContentJump to Timestamps

Paste YouTube URL

Enter any YouTube video link to get the full transcript

Most transcripts ready in under 5 seconds

Get Our Chrome Extension

Get transcripts instantly without leaving YouTube. Install our Chrome extension for one-click access to any video's transcript directly on the watch page.

Add to Chrome — Free

Works with YouTube, Coursera, Udemy and more educational platforms

Get Instant Transcripts: Just Edit the Domain in Your Address Bar!

YouTube

←

→

↻

https://www.youtube.com/watch?v=UF8uR6Z6KLc

YoutubeToText

←

→

↻

https://youtubetotext.net/watch?v=UF8uR6Z6KLc

YouTube TranscriptPreparing your results…