393 | The Top 3 Influences on Investing Success – Chat with Scott Phillips
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Have you ever wondered what the BIGGEST influences are on an investor’s success?!  Is it passion, personality, time, experience, learnt market timing or even luck?! Or are you just born with a “business brain”?!   Well folks, our very special guest today can actually narrow an investor’s success down to just 3 things!!   And if you’ve got that covered, well according to him…you’re basically going for gold!   This awesome guest – Scott Phillips – is the Chief Investment Officer at the Motley Fool Australia (Tune in to 10:08 for a fun story on how he landed his first position there!) and runs the Motley Fool Share Advisor and Everlasting Income services. He is also a fellow podcast hoster, co-presenting one of Australia’s top business podcasts: the Motley Fool Podcast!!   Today he’s dispelling so much timeless wisdom from how to tell if a business is “Investment-grade” to his golden rules for investing.  He and Ben will also discuss the differences, pros and cons when investing in shares and property, and we’ll be peeling back the layers of his money story!  So if you’re ready to learn the ultimate, simple wisdom that leads to investing success, press play now!        p.s Make sure to tune into “What’s Making Property News” too. The NSW Greens Party are introducing some seriously radical changes to its Tenancy laws that will have negative effects on Rent Control, Evictions and Termination of Rental Agreements. This has the potential to implode the Residential Property market, hurting its tenants more and forcing more people to rely on Government assistance.  If you own an investment property in NSW – we strongly urge you to contact your local member of parliament to express your concerns about the unintended consequence of this change.    To find your local member click here.     Free Stuff Mentioned…  Have a look at the Vanguard Index Chart that Scott mentions to see the power of compounding!   Sign up to watch PICA’s Webinar on Securing Finance in a Changing Economic Environment (Members can also watch the Replay!)   Looking for a new book? Check out “The 5 Second Rule: Transform your Life, Work, and Confidence with Everyday Courage” by Mel Robbins (Bryce’s Lifehack)   To take action against the radical NSW Greens Bill, please contact your local member of parliament and express your concerns over its long-term market impacts. We must act now!     Here’s some of the gold we cover…  0:42 – Ben’s joined the COVID Club 😮   3:55 – Check out PICA’s Webinar on Securing Finance in a Changing Economic Environment!   5:00 – “Success is a lousy teacher…”   6:47 – Meet Scott Phillips!   8:17 – The origins of the “Fool”    10:08 – How a Facebook article led Scott to become a Motley Fool! 
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