Greg Filbeck – Author of “Working Capital Management: Concepts And Strategies”

Greg Filbeck’s Financial Wisdom: Mastering Investments Like a Pro

Mike interviews Greg Filbeck.

In this episode of “Million Dollar Stories,” we had the pleasure of diving deep into finance and investment with Greg Filbeck. Let me bring you up to speed if you haven’t heard of Greg. Greg Filbeck is a distinguished finance expert and the mastermind behind several insightful books, including “Working Capital Management: Concepts and Strategies.” This episode was a goldmine of wisdom, especially for those looking to navigate the complex terrain of investments and financial management.

SUMMARY

One of the most profound moments in this episode was when Greg shared a nugget of wisdom he picked up from a top advisor to the wealthiest families in America. “The greatest investors are those who invest like dead men,” he said. At first, it sounded like one of those cryptic sayings you’d expect from a fortune cookie. But as Greg broke it down, it made perfect sense. The idea is simple yet powerful: once you make a sound investment decision, set it and forget it. Don’t constantly try to outsmart the market. This ‘buy and hold’ strategy often yields better results than trying to time the market, which is notoriously tricky and usually leads to disappointing outcomes.

Greg emphasized that a buy-and-hold strategy typically outperforms active management in the long run. While seemingly passive, this approach aligns with the investment philosophies of some of the most successful investors. However, Greg also highlighted that there are exceptions, particularly during periods of market volatility, where active management might add significant value. Manager selection becomes crucial for those looking to dabble in alternative investments, like hedge funds or private equity. But overall, Greg’s personal and professional advice leans towards a diversified buy-and-hold strategy for sustained wealth building.

One key takeaway from Greg’s insights was the importance of financial literacy. He stressed that many people lack basic financial knowledge, a significant hurdle in achieving economic independence. Greg recommended starting with simple yet comprehensive books like Andrew Tobias’ “The Only Investment Guide You’ll Ever Need.” Such resources can demystify the world of finance and equip individuals with the knowledge needed to make informed decisions.

In addition to financial fitness, Greg is a firm believer in physical fitness. He shared his daily routine, which starts at 3:15 AM with a workout at 4:30 AM. This commitment to physical health keeps him in shape and sets a positive tone for the rest of his day. Greg’s approach aligns with the philosophy that a healthy body supports a sharp mind, ultimately contributing to better decision-making in all areas of life, including finance.

Greg delved into alternative investments, discussing opportunities in hedge funds, private equity, and direct real estate investments. He pointed out that while these investments can be risky on their own, they often provide diversification benefits that can reduce overall portfolio risk. However, he cautioned that such investments are typically suitable for accredited investors with a higher risk tolerance and a solid understanding of these complex financial instruments.

Mike Fallat and Greg Filbeck talk about the book Working Capital Management: Concepts And Strategies.

When asked about cryptocurrency, Greg’s response was clear and unequivocal: he’s not a fan. Despite the stories of massive gains, he pointed out the high volatility and the lack of a physical asset backing cryptocurrencies as significant drawbacks. While some investors use crypto as a diversification tool, Greg prefers traditional investments that offer more predictable and stable returns.

Greg also shared his outlook for the next six to twelve months. He acknowledged the factors causing uncertainty, such as inflation, geopolitical tensions, and potential market volatility due to the upcoming election. However, he remains optimistic about the US economy’s resilience and believes that staying the course with a sound investment strategy will pay off in the long run. He advised listeners to be prepared for potential changes but not to make impulsive decisions based on short-term market fluctuations.

This episode of “Million Dollar Stories” with Greg Filbeck was a masterclass in financial management and investment strategy. From the power of the buy-and-hold approach to the importance of financial literacy and physical fitness, Greg’s insights are invaluable for anyone looking to build and maintain wealth. Whether you’re a seasoned investor or just starting, the lessons from this episode will inspire and guide you on your financial journey. Remember, a million-dollar book leads to a million-dollar life.

Get his book here:

About Mike Fallat

Mike Fallat, aka The BookMan, is the owner of Dreamstarters Publishing and the Million Dollar Book Agency. They have helped 300+ entrepreneurs become bestselling authors. His goal is to help 1,000 entrepreneurs publish books and teach them how to use their books as a gateway to generating 7-figures.

Visit website for more information: https://www.milliondollarbookagency.com/

About Dreamstarters Publishing


Dreamstarters Publishing offers ghostwriting, cover design, and everything that is required to take an idea to a finished book (kindle, paperback, hardcover, and audiobook).


The Million Dollar Book Agency is the ultimate marketing CRM system for author-preneurs. Services include automated funnels, lead generation campaigns, book fulfillment, podcast management, press releases, virtual assistants, course development, and more.

Mike also hosts a podcast known as Million Dollar Stories and runs a membership-based site known as Million Dollar Circle. In addition to owning the book business, he invests in self storage real estate.

https://dreamstarterspublishing.com/

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