Tim Ferris Podcast – Tony Robbins – 10/15/2014

  • Tim has gone through most of Tony Robbin’s Books
  • The quality of your life is based on the quality of your questions
  • Tony preps intensely before meetings. 18 hours for Carl Icahn.
    • who they are?
    • what they are made of?
    • what they are after?
    • what prevents them?
    • where are their wounds?
    • what are they proud of?
  • Top performers often hit slump when they’ve accomplished their biggest goals, we need a compelling future to keep us going
  • Help them connect to the conditions that made them so effective
  • Open, Andre Agassi’s autobiography, is one of the best books Tim’s read
  • Tony eats mostly salad and fish.
  • Tony’s morning routine involves jumping into a hot pool and then river to jolt his nervous system. Helps with discipline and strength. Nothing has helped body more than Cryo-therapy. A lot of sport teams use.
  • Tony primes every day of his life (10-30 min). If you want a prime life, you need to be in a prime state. Not a meditating kind of guy. Part of it is a breathing routine. At 1:10 of link (http://tr-training.s3.amazonaws.com/UEDay2HrofPwr.mp3)
    1. Get out of head and into body
    2. Three things to be grateful for: 1) something simple. Let it fill soul. No fear if grateful. A lot of angry rich people because live life of expectation vs appreciation. 2) Total focus on presence of God or however you want to language. Inner healing, solve anything that needs to be solved. Strengthening of gratitude, conviction, 3) Focus on celebration and service.
    3. Focus on three goals for the day
  • Tony hates being referred to as motivator, need to use intelligence.
  • You can do right things but at wrong time. Sequence very important may need only a small change.
  • Money:Master the Game is first new book in 20 years. Interviews alone make the book worthwhile. Ray Dalio, Carl Icahn, David Swensen, John Bogle, Warren Buffet, Paul Tudor Jones, Mary Erdoes, T. Boone Pickens, Kyle Bass, Marc Faber, Charles Schwab, Sir John Templeton
  • Shied away from writing because lose many facets of communicating (voice, energy, etc), can never be corrected, and people don’t read.
  • Mastery comes from doing. Not just what you know. Need to get emotional intensity behind understanding and ingrain it into your body so it becomes a part of who you are.
  • Documentary Inside Job, impetus for writing book. Unfair how a few people could put economic world at risk and received tax dollars when things went wrong.
  • The finance knowledge does not come from me, is not my area of expertise.
  • What the top finance professionals have in common
    1. Obsessed with not losing money.
    2. Obsessed with asymmetrical risk-reward. Paul Tudor looks for 5 to 1 payoffs.
    3. Know that they will be wrong. Set up an asset allocation system.
    4. Life long learners. Obsessed with knowing more.
    5. All real givers
  • Learn to make your investing automatic. If you take it out before you get it, won’t be painful vs other way around.
  • 96% of mutual fees don’t beat the index. if you include all fees, eats up 3.5% of returns.
  • Math works out, they don’t risk any money, but take 60% of your growth
  • Book needed to be long because leads people in a logical progression but a lot of stories to make engaging
  • Ray Dalio shared details on his All-Weather fund. Takes into account inflation, deflation, economic growth, economic stagnation. Avg return ~10%, but not volatile.
  • Assume your favorite asset class will collapse 50-70% and have a plan for it.
  • Most people don’t want to think about finance, but you are an investor since you make decision around your time, money, and resources.
  • Most people are making bad investment decisions. Trading time for money bad because you can never get time back.
  • Few things are the most important in your life: Body, emotions, relationships, finance, career, spiritual aspect. Learn to be literate.
  • Successful people have principles and operating systems. Can protect against instincts.
  • First successful person to come to mind. Richard Branson because he lives passionately and on his terms. Close to family, very conscious of society.
  • In moments of doubt, ask what is right and what is real. Try to stay energized because when low energy will doubt everything. Put body back in the strongest place.
  • Figuring out how to solve your suffering is a gift because someone else is probably suffering in the same way and you can help them
  • Learn more at tonyrobbins.com

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