It’s not winning and losing, it’s winning and learning
Pain + Reflection = Progress. Without the pain of the 1989 real estate collapse of his businesses, Keith Cunningham wouldn’t have been able to build a successful real estate career over the next 30 years. In this episode, we discuss seven of the most insightful takeaways from Keith’s book, The Road Less Stupid.
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Important Highlights:
5:49 – #1: A lack of rules, skepticism, and discipline caused every mistake that we made.
6:28 – #2: Should I pursue this opportunity? Should I make this investment?
7:33 – #3: There is no way to correct without divorcing the story and marrying the truth. Facts do not cease to exist just because you ignore them.
8:48 – #4: You must keep a conservative strategy during the good times because you generally don’t know you’re in bad times until it’s too late.
10:26 – #5: Speed kills. True wealth is built slowly. Speed and greed necessitate aggressive leverage and increase the odds of catastrophe.
13:00 – #6: Success does not make you invincible or bulletproof.
14:03 – #7: The euphoria of a hot market usually results in ignoring marketplace fundamentals.