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  • - I don't want you to just watch and learn from me

  • and not take any action.

  • ♪ The movie is, Dan Lok ♪

  • - Dan Lok.

  • - Yeah, yeah, yeah, that's right, that's right, so,

  • now, what are these, Shannon?

  • - Chips.

  • - Chips, now, these are different kinds of chips.

  • Shannon what I want you to do,

  • I want you to think of these chips,

  • hold on to these chips,

  • I want you to think of them as your investment capital,

  • okay.

  • Now, each chip could represent,

  • doesn't matter how much you have,

  • it could represent $10, $100,

  • $1000,

  • $10000, $100,000,

  • doesn't matter.

  • These are the chips that you have.

  • So these are your investment capital.

  • What are they?

  • - My investment capital.

  • - Investment capital.

  • These are your investment capital.

  • What are they?

  • - Investment capital.

  • - Okay, so, it's quite a bit of money.

  • So, how much you want each one to be?

  • - Any amount? - Doesn't matter.

  • - Let's make it 10000 each.

  • - 10000 each, ooh!

  • A lot of money here, right?

  • All right, so how much would you say we have here, around--

  • - 10, I'm going to guess, maybe 240000, something like that.

  • - Yeah, 200 and somewhat K, right?

  • Pretty sizable investment, right?

  • Okay, so Shannon, we are going to play the game.

  • I'm going to, we'll play the game.

  • So here is a deck of cards.

  • What is this?

  • - Deck of cards.

  • - What is this?

  • - Deck of cards.

  • - This represents the market.

  • What does it represent?

  • - Market.

  • - The market.

  • So, Shannon I'm going to let you win some money,

  • see if you can multiply the investment capital.

  • That's what we-- - I'm already ready to invest.

  • I already know what my first case is--

  • - Okay, that's good.

  • - That's going to you. - Okay, okay, okay.

  • Now, there are a couple rules.

  • So Shannon, listen closely.

  • - Okay.

  • - You can invest one chip at a time.

  • You can invest two chips at a time.

  • Or all the chips, it's up to you.

  • There's no limit, okay.

  • Also, just like, how many have seen the show,

  • "Who Wants To Be A Millionaire?"

  • How many have seen that show before?

  • Right, you can also ask for friends,

  • you can also ask your friend.

  • Right here, here, right?

  • You can ask your friend here, Eva, right?

  • - I just met Eva, I think we're going to be good friends.

  • - That's right, you can ask them for their advice.

  • Because this is normal sometimes when we invest,

  • that we ask our friends like,

  • "What do you think of this investment,

  • "I'm going to buy this piece of property,

  • "what do you think?"

  • Yes, so you could do that, you can ask anybody.

  • - Okay. - Okay.

  • So here's how it's going to work.

  • This is a deck of cards.

  • Now a deck of cards, we have how many cards?

  • 52.

  • Now, what kind we have?

  • Ace, we have two, we have what?

  • Three.

  • - Hearts.

  • - Yes, hearts.

  • So this how it's going to work,

  • in a moment you going to pick a number of these cards.

  • Each time is one bet.

  • It's one investment, right?

  • You can bet on how many chips you want each time.

  • If we draw,

  • from one to 10,

  • you lose your investment capital.

  • - Oh man!

  • - Any one from one to 10.

  • - Who's, I'm the one drawing the cards?

  • - That's right, okay.

  • - I'm basically going through this question.

  • - Okay, now here's the thing,

  • if you draw a Jack.

  • - Yeah.

  • - You're going to double your money.

  • - Oh man, I love Jacks.

  • - Okay, if you draw a Queen, you're going to triple your money.

  • - What about a King?

  • - You're going to four times your money.

  • - Yes!

  • - Okay, so one to 10,

  • how much money?

  • - Zero.

  • - How much money?

  • - Zero.

  • - Okay, if it's a Jack, how much money?

  • - Double.

  • - Double, ooh!

  • Who likes to double their money?

  • Right.

  • If it's a Queen,

  • triple.

  • Oh, but if it's a King, all right, all right, all right.

  • Now you guys want to chip in right, you guys are like,

  • "Hey, let me join this, ooh, this exciting,

  • "this is Vegas time."

  • All right, so let's shuffle the cards,

  • let's shuffle the cards,

  • just to be fair, shuffle the cards.

  • - Now I am with the King of High Ticket.

  • - The King of High Ticket.

  • - I want to pull it-- - All right, all right.

  • So here we go.

  • So here you go.

  • So, the first bet, how much do you want to bet Shannon?

  • - And I don't know what I'm betting for?

  • I like the number three.

  • - Number three, all right, so three chips, three chips,

  • so it's $30000 right?

  • Represents 30000, ooh!

  • I'm sweating too .

  • I'm not though, I'm the house, but I'm kind of excited.

  • But I am not the house,

  • I'm simply the--

  • - What?

  • - Market. - The market.

  • I'm simply the market.

  • So, let's draw the first card.

  • Okay.

  • All right.

  • Shannon, any one of these?

  • Let's do it slowly.

  • - I know, I'm-- - Let's build up some,

  • some excitement, yes. - My heart's pounding.

  • - Yes. - I'm very excited.

  • - How many of you get nervous, when you invest?

  • Your heart is pounding, right?

  • Even though this is not real money.

  • Notice the emotions you're going through, right.

  • All right, here you go, pick any one of these.

  • - All right.

  • - Okay, first one.

  • And you sure about this one?

  • - Yes.

  • - You sure about this one, do you need to ask any friends?

  • - No, 'cause it's going to create doubt, just show me.

  • - Doubts, okay, first one, okay.

  • First one, and we want Shannon to win, yes.

  • - We do, right?

  • - Okay. - Yes.

  • - So let's reveal that slowly.

  • - Oh my God. - Right there,

  • the first card please.

  • What is it?

  • And then yell it out loud, what the card is, okay.

  • - Ah shit!

  • It's a five.

  • - It is a--

  • - Five.

  • - It is a five, it is a five, it is a five.

  • All right, 30000. - Ah, I feel painful.

  • - Let me put it back in pocket.

  • - How many, I get three trials?

  • - As many trials as you want,

  • next one.

  • How much you want to bet?

  • Do you want to double down?

  • I don't know.

  • Because isn't it the Vegas rule,

  • you lose the first bet, you kind of double down.

  • Is it what it is?

  • - Let's do three again.

  • - Do three again, all right, three again, how many?

  • - Three again. - Three again, here we go.

  • All right, and pick any of these cards.

  • I think, you know, we need an idea,

  • you blow it, right, is that what it is?

  • Like, let's blow it together.

  • - Okay. - Okay, one, two and--

  • Okay, here we go!

  • - A 10!

  • - A 10, oh, getting close,

  • getting close. - Okay, all right.

  • Getting close, five, 10, next one maybe a J, okay.

  • - So trust has been, you still get my card, my money?

  • - That's right, one to 10, you lose your investment capital.

  • - Just when trust was being re-established.

  • - No, but you know how it is like,

  • when you lose three, four times in a row.

  • You're sure the next one is, oh the 10 is,

  • you're feeling it.

  • - Yeah.

  • - This is, now you lost this much already.

  • - Okay but, when I win the Queen, do I get all that back?

  • - No.

  • - You said four times.

  • - No, it's four times what you bet.

  • - Oh man, I got excited. - Four times what you bet.

  • Yes.

  • - Yeah, I'm ready to like

  • bet, okay. - You ready?

  • Well now, so you lost quite a bit.

  • If you want to get that back,

  • you got to kind of bet--

  • - Yeah but I still got, I'm good, I'm good.

  • - Okay, okay, all right, all right, all right.

  • - I have a strategy now.

  • - Okay. - Not take more losses--

  • - Got a strategy.

  • She's got a what?

  • - Strategy. - Strategy.

  • Okay, here we go.

  • You ready?

  • All right, here we go.

  • How much?

  • - This is going to happen all day.

  • - All right, all right,

  • one. - I bet this, now I'm going to--

  • - Now, if you bet one, if this turns out to be a King,

  • you would be-- - I'll take that chance.

  • - You'll take that chance.

  • - Yeah, cause I'm-- - So, one.

  • - Re-establishing my self trust here.

  • - One, okay.

  • You're sure. - That's deep going on.

  • Yeah, you don't want to ask your friend anything like that?

  • - Friend, you're a good investor,

  • I saw your hand raised up, what do you think?

  • - More. - More or.

  • - Three. - Three, really.

  • - Three.

  • - Friend I'm going to trust you.

  • - What about this friend?

  • What do you think?

  • Three. - I'm going to go three,

  • because that's already stretching me.

  • - Three.

  • Three.

  • Three, what do you guys think?

  • - My chest is starting to get tight.

  • - Oh, it's not your money,

  • so you guys are like, "Who gives a fuck?"

  • You know, it's like buying a stock,

  • oh I don't give a shit, right.

  • All right, here we go.

  • Three, $30000.

  • Here we go.

  • I think, I have a good feeling about this one.

  • - Do you. - I have a good feeling,

  • about this one. - Okay, okay.

  • - At least got to get J or Q or something like that.

  • - No it's not a winner.

  • - Ah, it's a two.

  • Okay, now we can do this all, let's, one last chance.

  • One last-- - But I still got a lot

  • of money.

  • - Last chance.

  • - That means I got to bet all my money.

  • - Maybe.

  • Maybe last chance.

  • If you want to,

  • now, so far, you're like, maybe compared to that start,

  • you've lost, maybe 40% of the investment capital.

  • 30, 40%.

  • So Shannon started off with 100% investment capital,

  • in a few,

  • four investments, we've done.

  • - Yeah.

  • - We've lost 30, 40%.

  • Is this the real world?

  • Hello.

  • - Yes. - Yep.

  • - Could you make a trade,

  • could you make an investment and lose 40% of your money?

  • Relatively quickly,

  • sometimes 100% of your money.

  • So now, this is her chance.

  • This is her life savings here, right?

  • Almost 200 somewhat thousand dollars,

  • this is the last bet, right.

  • - Feeling your pain--

  • - So she needs to draw a pretty good card.

  • - Yeah.

  • - Just to get back to,

  • break even.

  • Right, get back to zero,

  • not even a return.

  • So Shannon, what are you going to do?

  • - I'm going to, let's play the millionaire game,

  • I'm going to phone a friend.

  • - Phone a friend, phone a friend--

  • - No, I'm going to take a poll from the audience.

  • - Take a poll, yes, yes.

  • - Who thinks I should just bet it all?

  • Raise your hand.

  • Bet it all.

  • - Bet it all, bet it all, bet it all,

  • bet it all, bet it all.

  • So Shannon, in the beginning, in the beginning,

  • why do we want to invest?

  • - To make a profit.

  • - To make a profit, get a return.

  • So now we're at 30, 40% lost,

  • this is the last chance you're going to bet.

  • So even though, let's say, we draw a Jack,

  • you kind of get back, depends on how much you invest,

  • you might get back most of the money,

  • not maybe, not even up ahead.

  • But if it's a Queen,

  • then you're in pretty good shape.

  • Right, then maybe you say,

  • "Hey, you know what I'll draw a Queen,

  • "that's it, I'm not going to bet anymore."

  • Right, forget about, if you're King, then it's like,

  • "I'm going on vacation."

  • So Shannon, how much you're betting?

  • - I'm betting this.

  • - Everything, how many of these do we have?

  • - Okay, let's see.

  • - So it's one, let's count them.

  • - 10, 20,

  • 30, 40, 50,

  • 60, 70, 80000 is what I have.

  • - $80000

  • of investment too, so it's got 20000 left.

  • Okay. - I can multiply that one,

  • I know it.

  • - Emergency fund, get home fund.

  • - I need a massage, 'cause I'm--

  • - It's the stress from losing the money.

  • - I need to see a therapist.

  • - Probably someone that goes to alcohol, I don't know.

  • Right, you know why we have so many bars in Vegas?

  • You win money you celebrate, you have one drink.

  • You lose money, you're depressed, you get two drinks.

  • They make money either way.

  • They make money either way.

  • This is why, all right.

  • That's called business.

  • What's it called?

  • - Business. - Business, all right.

  • So Shannon, you ready?

  • Okay, here we go.

  • Okay, ooh I feel nervous.

  • - I know me too, my heart's like.

  • - I feel nervous.

  • So far, who is winning within the game?

  • - The market.

  • - The market is winning.

  • Do the market win most of the time?

  • Hello.

  • - Yes.

  • - Why do the markets win most of the time?

  • - She's losing, someone else is winning.

  • - She's losing, so it's a zero sum game.

  • So in the marketplace someone wins

  • and someone loses, is that how it works?

  • - Yeah, yeah.

  • - Is that how it works?

  • - I'm not sure.

  • - Hmm.

  • Would that be an interesting question to

  • explore these two days?

  • Okay, so the market is closed now.

  • So please open a card Shannon,

  • one, two,

  • and three.

  • - Well, here's the good news.

  • I do like the number seven, it's just not for me.

  • - Number seven.

  • What's the number?

  • - Seven. - Oh, look at that.

  • - Number seven.

  • So, Shannon, how much we started off with?

  • - 240.

  • - 240.

  • - We got 20 left.

  • - We got 20 left.

  • So we basically, within a matter of 10, 12 minutes,

  • we've lost 200 somewhat thousand dollars.

  • Hmm.

  • That kind of sucks, hey?

  • - Oh yeah.

  • - How do you feel Shannon?

  • - Terrible.

  • - Terrible, but you were pretty excited

  • a few moments ago. - Actually terrible, pissed.

  • - Pissed right? - Yeah.

  • Is that normal?

  • - Yes.

  • - Do most investors make money or lose money?

  • - Lose money.

  • - Most of them lose money.

  • So, Shannon bet multiple times,

  • different amount,

  • right?

  • Multiple amount, but she lost the money.

  • Shiny card, exciting.

  • Oh!

  • Like in Asian culture belief,

  • like gold, it's fortune right?

  • It's good luck, it's prosperity.

  • Not so good so far.

  • But what if, Shannon, if this is the market,

  • I'm the messenger for the market.

  • If the market wins most of the time,

  • and she bets

  • and based on trust on the market,

  • not on me, because I'm just neutral,

  • I'm just the messenger right?

  • On the market, now did I tell you how much to bet?

  • - No.

  • - No, it's your decision.

  • Multiple times right?

  • But what if, Shannon, I gave you one piece of information,

  • just one small piece of information, okay,

  • that all the Jack, Queen and King.

  • - Were in your pocket.

  • - Were in my pockets the whole time.

  • Oh, but Dan that's cheating.

  • Hm.

  • Not that much different, when a stock broker tells you,

  • "Hey, the stock is going to go up."

  • Not that much different, when a real estate agent tells you,

  • "This is a good piece of property,

  • "it's going to appreciate, it's in a good location."

  • Not much different, when your friend tells you,

  • "Hey, invest in my thing it's going to make money,

  • "I promise you, we've known each other for 10 years."

  • Is that much different?

  • So, is it my job, or is it Shannon's job

  • to investigate before you invest?

  • Did I say,

  • "Shannon you cannot check my card?"

  • Would it be a simple idea,

  • "Hey, I just want to check the card."

  • Maybe after two bets,

  • "I want to check the card."

  • Just to see how it goes.

  • Maybe there's something wrong with it.

  • Because the two fives, would you say,

  • "I get a little bit suspicious.

  • "The two fives, what's going on?"

  • Right?

  • Maybe I look at a card, it's a little,

  • the card seems a little thin.

  • It doesn't look like a 52 cards.

  • Right?

  • Maybe gut instinct tells you,

  • it so looks a little thin, maybe,

  • but just like a stockbroker tells you,

  • "Just trust me on this,

  • "it's okay, oh yeah, the market dip a little bit.

  • "Don't worry about it, it's going to bounce back."

  • How many heard that before?

  • It's going to bounce back, two years later,

  • well it's going to bounce back.

  • That's how most people approach investing.

  • They think it's a word of luck,

  • a game of luck, a game of gambling,

  • versus, now Shannon, if you would have done that,

  • let's say, the third bet,

  • and you say, "Dan I'm going to check the cards."

  • And you check the cards, you say, "What the fuck?

  • "I didn't see no Jack, I see no Queen, I see no King."

  • Would you still continue to bet?

  • - No.

  • - No, absolutely not.

  • Doesn't matter what I say,

  • oh, it's going to be,

  • no, it doesn't matter what I say, something is missing.

  • Yes.

  • You know you're not going to win.

  • Write this down, lesson, the morning,

  • investigate before you invest.

  • Don't listen to your stockbroker.

  • Don't listen to nobody, including me.

  • Because no one cares your money more than you do.

  • Yes.

  • - Yes.

  • - No one cares your money more than you do.

  • Do, this called due diligence,

  • just simply check the cards.

  • So from now on any investment.

  • - Yeah.

  • - You're going to--

  • - Ask.

  • - And you're going to do--

  • - Due diligence.

  • - Due diligence, investigate, right?

  • This is a good reminder.

  • Round of applause for Shannon.

  • - Thank you.

  • - Very, very good.

  • Very, very good.

- I don't want you to just watch and learn from me

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