Circumventing Economic Crises and the Pursuit of Wisdom – Alastair Macdonald and David Phelps: Ep #493

Alastair J. Macdonald is an entrepreneur and philosopher with an extensive amount of experience discerning signal amongst overwhelming noise. Today, we discuss the opportunity and value of mining your own experience, seeking wisdom from those who came before, and what to focus on in today’s volatile economy.

Expect to hear how Alastair predicted the previous real estate market crash and grew his wealth throughout the 2008 Great Financial Crisis. In a world that’s been trained to follow the herd, I reflect on the value and impact of the people you surround yourself with and how the challenges you face can lead to positive change.

Minute Markers:

03:15 – The #1 job in business and the value of mentorship and experience.
07:14 – Why lowering interests won’t make things better and the Ponzi scheme many fall for.
14:14 – The value and opportunity of your own experience.
16:58 – How Alastair predicted the 2008 market bubble.
22:11 – Preparing for changes in our economy and culture.
24:52 – Who you surround yourself with matters.
28:43 – How challenges and failures can make you a better person.
32:42 – What you should focus on during economic instability.

If you like this episode, here are more episodes we think you’ll enjoy:

Bob Repass – Leveraging Relationships and the Current Market Dynamics – Ep #492
Frances Stacy – Investor Alert! Navigating Market Turbulence… – Ep #490
David Phelps – Formal Education vs Street Learning – Life Experience Wins Every Time – Ep #488

Featured on the Show:

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