UNSHAKEABLE - Tony Robbins

Takeaways:

1. Dream of being Unshakable: not just Money, State of Mind.

• Fear is like a virus, spreading everywhere. Now Virus is the fear.
• Any decision made in a state of fear is likely to be wrong. Decisions equal Destiny.
• Emotions get hold of us, and we, as investors, tend to do very stupid things. Learn to “Silence the enemy within.” If you live in fear, you have lost the game before it even begins.
• The market never took a dime from anyone! Don’t do something - just stand there! Especially in crisis times.

2. Winter (bear market) is there in the past, present, and future. Get Freedom: Learn to live fearlessly.

• On average corrections (10% less) have occurred about every year since 1900.
• Leas than 20% of all corrections turn into a bear market. Only 20% of Corrections convert into a bear market. The Stock Market rises over time despite many short term setbacks.
• Nobody can predict consistently whether the market will rise or fall. 
• Historically bear markets have happened every 3-5 years.
• Bear markets become bull markets and pessimism becomes optimism.
• The greatest danger is out of the market. The bad news is an investor’s best friend.

3. Knowledge is the first defense: 

• Hidden fees and half-truths. Know the fee structure. Average MF’s costs 4%-6% includes Expense ratio, transaction costs, cash drag, tax cost, forty other different fees. 
• Advisor types: Broker (90%), Dually Registered Independent Advisor(8% - Multi hat - they act as brokers as well), Registered Independent Advisory (2%) - Trust them only after verification, and most importantly they should be connectable, trustable and likable. 

4. Execution is everything: 

• Don’t Lose Money. Low risk - high demand. Apply five to one rule. Focus and maximize your net. Diversification - Hold Max 10 - 15 good. Diversify across different asset classes, markets, countries and most importantly time (dollar-cost averaging).
• Never underestimate the awesome power of disciplined saving combined with long term compounding.

5. Path to Achievement:

• Achieving anything you want is the focus. Wherever your focus goes, your energy goes.
• Go beyond hunger, drive and desire and to consistently take massive action. 
• Focus Creates Feelings, Feelings Creates Experiences. 
• Losers react and leaders anticipate. Avoid Suffering Triggers: Loss, Less, Never.
• There’s only one real barrier to financial success: you! Once you know how to silence the enemy within, nothing can stop you.
• Know what to do, do what you know. A system is effective only if you use it.  
• 80% psychology and 20% mechanics. If you know your limitations you can adapt and succeed. If you don’t know them, you are going to get hurt.

6. Art of fulfillment:

• The secret to happiness is progress. It is about living a magnificent life on your own terms. Real wealth is emotional, psychological, and spiritual. Money is just a tool.
• Giving: Money doesn’t change people. It just magnifies who they already are.
• Flying High - A beautiful state. Falling low - A suffering state.  
• Unless you help yourself first, how can you hope to help others?

Finally, pledge: I decided that I would do everything in my power to live in a beautiful state for the rest of my life and to become an example of what is humanly possible. 

There People to know more:

• Jack Bogle, the legendary investor and founder of Vanguard: We live in an uncertain world, and face not only know unknowns but also the unknown unknowns. 
• John Templeton - American-British investor - The best opportunities come in times of maximum pessimism 
• Paul Tudor Jones - one of the greatest trader of all time

This book has a lot of information on the BEAR-BULL markets and MF, Index and interviews summary of some of the great people interviews, images, etc. I highly recommend you read this book.

For a long time, I am thinking to share my takeaways from those books that inspired and taught me a lot. My first one from book series.

Please read and share your thoughts: [email protected]