You're listening to the Weekend Collective podcast from News Talks ed be Welcome back to the Weekend Collective. I'm Tim Beverage And if you're missing in the previous hours, I would recommend going to check out the podcast Fantastic Chat with Alex Flint there just about getting your exercise habit started and and all of that should I say about anyway, you can check out the Weekend Collective podcast at iHeartRadio. Right now, it is time for Smart Money and my guest,
well he needs no introduction really, Martin Wores. How you doing?
Yeah, very well?
Thinked if you got a business card, that's one who has a business card. But you could probably just write financial guru, couldn't you.
I don't have a big business card, and I if I had one, what would probably financial writer and financial speaker.
Oh well, that's not as much fun as guru. I like guru.
Yeah, yeah, I like as well.
Maybe it's promising too much. It's a little bit SI. Yeah, it could be reminded of how many books have you written.
I've written twenty three books. I've actually written twenty four because I handed the manuscript of my twenty fourth book into the publishers a couple of weeks ago and doing their thing on it. At the moment. It won't be out till next year or so, but that'll been number twenty four.
What how I can look. I can imagine someone going, I've got a book in me and I'm going to start writing it. And you've done twenty three. And now, as you say, twenty four is not out yet, but you've written it. Yeah, what motivated number twenty four?
About five years ago I had a real old disruption of my life and I left Queenstown, where I'd live for twenty odd years, and moved to christ Church, which is where I live now. And you know, whenever you have a big disruption in your life, you meant to go through your finances, aspect by aspect, all the different things. And I did that, and I made a new will, I wound up the family trust that I've had, I
got my investments managed by someone else. And it was such an interesting process which happened over two or three years that I thought I would be writing up. So the book is partly biographical, but it's partly also advice. Here are the things that I did, and here are the thing here's how it worked out warts and all. Wow, made a few mistakes and doing that, well, they weren't really mistakes. One of the things I did was I canceled my health insurance to self insure, and I put aside,
you know, quite a sizeable some of money. And the idea was that I would pay what had used to be the equivalent of the premiums into.
A get ahead of it yep, yep.
And within three months of doing this, I was under the knife, having having an operation, and then a month after that I had another operation.
So did you spend it all?
No? No, I haven't spent I've still still got a bit of back up there and I can afford to self insurance. I mean, it would be a disaster for somebody who hadn't put the money aside and such like. And you know, I'm of an age retirement age where I see a lot of people who ask questions about health insurance because getting as you get older, it gets really really expensive.
That is a problem, Isn't it actually funny? As you were talking about that and saving it, I have you still got it? And I was thinking of that black added quote when somebody stolen some money from Baldrick and he goes, what about that tuppence? It was under my pillow and he goes, seen it, pinched it, spent it. I was wondering, if you're about to deliver that line on your health insurance.
No, no, no, there's still some money there. So and you know, health insurance, you know it's important to some people, but it's mostly about Q jumping. I've had a bit of experience now in both the public and the private system, and the public system is slow to get into it.
But it's fantastic when you're in.
But it's fantastic once you're in there.
Well, I didn't realize that the really good surgeons. I've learnt this probably in the last few years, but the really good surgeons have a public They work in public. It was to be the public, you have to be the best. And so if you're looking for a private surgeon, look for one who's also in the public system. And you're you're away. But it is Q jumping. Yes, you're right, but if you've got a dodgy knee, then you know.
Then you want it done. Yeah yep.
Hey, Actually you have distract me with that talk about health insurance because we're going to talk about small businesses and we will do it. But I just wanted to ask, when you are paying for it yourself, do you have do you try and haggle? You know? It's like when they say you've got to go into this private hospital and they say it's going to be so much a night, and you're like, oh, come on, give me a break. I'll give you such and such. I don't.
I don't think there's any haggle room in there whatever. I'd love to say, yeah, wouldn't. I got fifteen percent off, But they just presented me with the price that here's the surgeons for the this fee, here's the hospital fee, here's the theater fee.
That's it.
They never said take it. They never said take it or leave it?
But was it did? Do you look at it and go, yeah.
It's well they warned me it was, but it's a fair bit of money, you know. One well they were both about fourteen thousand dollars each, so you know I took a thousand dollars.
That sounds like a hip and a knee.
No, it wasn't either of them.
Okay, no, no, no's going on. Don't don't don't tell us we do. I'm not going to ask. I'm not going to you know, we're not going to push it any further. Hey, I wanted to have a chat about suffening about small businesses. And when I say small businesses, I mean I don't know how we define a small business. There is a particular definition, isn't it. In fact for some people. If you some small businesses, if you described it to the average punter, that they'd be like that
sounds like a pretty big deal to me. And there have been a lot of headlines around recently about the number of businesses that are folding. We've seen the very public ones, of course, when people just notice that their favorite restaurants no longer there. We've seen some fairly well known establishments that have suddenly disappeared. But of course there will be people who set up small businesses at times like this, because if you've got a good idea, then
you don't want to wait around. Have you Are there some basics when it comes to small businesses on what you can absolutely get right and what you can absolutely get wrong. And sometimes I don't know if it's just a question of luck either, because I've spoken to small people who just about every small business person I've ever spoken to will say, in fact, I've even done a couple of things myself where I've looked back and gone, well, thank goodness X didn't happen because I wouldn't have been
ready for it. And a lot of them will say, oh, my goodness, if I'd known, if I had known how hard it was, I never would have even done it, And yet here I am a success. So can we just still that into some basic dos and don'ts for small business big Core Martin.
Yeah, yeah, it is actually, and you're right about the definition of a small business. There are definitions. I think in New Zealand it's under maybe fifty staff something something like that.
If you have forty staff, that's massive.
But I may I may have that wrong. It might be twenty, but it's something like that, whereas in the US it's it's five hundred and so forth. But you know, a lot of them to a pretty marginal sort of operations, and a lot of them, I would argue, aren't really businesses at all, paid directly that it was paid hobbies. Yeah, and that's one of the don'ts. You know, it's not not necessarily a thing that you've got to love. But
it's largely self employment, you know. So if you imagine a trade or myself I was self employed, I wasn't. Really I didn't have a business. You know, I could have had a business, and I could have built up a financial advisory practice with fifty staff and so on, but I quite deliberately and consciously decided not to because I want a better lifestyle than that. I'd argue a lot of a lot of small business owners don't have
great lifestyle. That is, you know, they not only have to carry on with their trades, but they've also got a market that they've got to give quotes, they've got to do the books, they've got to do all those other other aspects, and they actually find they have very little life at all. I think the number one bit of advice I would give to people is to start with the end in mind, so to start thinking about
how is this going to play out? And ideally you want to be able to sell your business for preferably serious money. So you build something, you take all the risks, you live, eat and breathe your small but business and most small business people do. You want a really good payoff at it, so you've got to think about who's going to buy this business, and what are these people who are going to buy the business, what are they
going to be looking for? And the answer to that, in almost all cases is that they will seamlessly keep the profit going. That is, from day one when you're the owner. Today too, when the other person is the owner, the profits keep flowing. And that means that you don't have your name on the door. You're not you know, the business is not dependent on you. You don't have your name online, so that you're the number one person
in whatever the field is. The Other thing I'd say is that hospo is something that a lot of people go into. Somebody described that about thirty years to me, they have this little vision of themselves standing around the bar at lunch time with a five ounce glass of beer. This is when we had five hour glasses of beer. And they see themselves as being mine host and that sort of thing. Most hospo is bloody hard work actually, and.
That you've got all the stuff and that your mind host and you're going around the table saying hi, and everyone's going, hey, hey, are you going Martin, And I'm loving, loving, loving your chef's work today, and as opposed to.
Yeah there's a there's a snail in my cello, so so and so hasn't turned up again. Very difficult businesses to run, and I know they're quite high profile and you really do notice when your local cafe closes. But I suspect I've never seen numbers on it, but I suspect that more hospital hospitality businesses cease to be help we polite, and then most other business SIPs.
Yeah, it's interesting that you you would an unsurprising I guess that you'd say you have a think about the endgame where do you want to end up? Because there'd be many people who end up. Maybe I should also include myself employed, but that's usually just only responsible to yourself. But let's say small business that a lot of people's motivation would simply start from I want to be my own boss and nothing more. That would be very common, I managed, wouldn't it.
Yeah, yeah, it's very common, And yes you might be your own boss. But the staff not turning up are also, in a funny sort of way, you're your boss as well. They certainly motivate you to do things. It's it's a tough road to hoe. I love you know. I mean, there are used to be lots of figures around about seventy percent small businesses failing within the first five years. And I don't know whether that right or not.
There are those spectacular figures though there that there's so many do fail, aren't they I don't know what the stats are either. I could probably look up a meme somewhere there'll be.
I'm not sure I trust them all that much. I wouldn't know where to where where they come from. But it's for a lot of people. It is very, very hard work. It's sixty hours a week, it's seventy hours a week. Being your own boss often comes at a price.
And the other thing tim is there if you go into business and you put capital into that business, whether whether it's a relatively small amount because you know it's for tools and that sort of thing, or whether it's a big amount and you take on a lease for the hospitality business and so forth, you need to get a return on both your time and your capital. Yeah, and a lot a lot of small businesses don't get a return on either. Actually, they're not often terribly profitable.
Well, that's the other thing. If you speak to small business owners, they might tell you. And that's what often comes up when they're when the government's sticking another responsibility on employers, and how employers will say, well, listen, everyone thinks I'm living on the pig's back, but I haven't paid myself a wage for eighteen months. I think we heard a lot of that obviously through COVID.
Yeah, yeah, I've been pretty negative to them. But the other side of it, you know, there are there are joyous examples of people A making a lot of money and b having a very very good lifestyle.
So what, okay, is there a simple reason why why so many fail? And and what's the difference between the ones that become a roaring success? Is it just that they've had a great idea.
I think there's a lot about that. I think that, you know, it's it's what they go into, it's how they manage it, it's how they manage to staff it. It's how they manage the staff that they have, it's how they market it. You know, I look around the place and I do see a lot of very successful small small businesses. And then of course you know Apple, the computer people, you know, Steve Jobs, they started as a micro business as the Juti pack up quite now.
Garret trade me started in Sam Walken's garage. So all these people have an idea and we only know it's a good idea with the passing of time.
One of them is one of the mistakes that you might make in a small business is if you've started it with your own ambition in mind, is a stubbornness to share the to share it around. So if if you've got an idea for a business, you might not, for instance, have all the money or the capital you need, but then it's like, my idea, why should I give it to someone who's simply going to stump up with a bit of money to make it a bit easier
for me? Is that one of the mistakes small businesses make that they go in a bit undercooked on the financial side, but simply because they're unwilling to share in their genius.
Yes, of course, taking on a partner and a business is like a second marriage to triumph of hope over experience. So it's you know, that doesn't always work out. But I always say to people that I think that you're better to have fifty percent or sixty percent of a thriving large business than one hundred percent of something which is struggling and a lack of capital. You know, after people have more into the house to put money in and managed to beg borrow of steel, bits of other
other money from finance companies and things like that. After that, the capital drives up. And where do you get the expansion from. I think you've got to bring staff and to turn a small business into a medium size. To turn a medium size into a large one, you really do need capital, and that means bringing other people on.
If somebody was to I mean, I don't know how much how much time you would spend advising people in small business and things, because that's a specific area of expertise, isn't it. But what would if you had a family member, for instance, he said, look, I've got a great idea. This is what I want to do. I want to enter into business. Would there be a small checklist you'd run through them, or a list of you know, absolute
musts before they even sort of take step one? Well step one to be talking to you, I guess.
Not or somebody somebody like me and I do see I have seen over the years an awful lot of small business owners. No, I wouldn't really have a checklist. I think you'd have to work through. They all tend to be quite different. But I would keep coming back to that. Start with the end in mind. Who's going to buy your business, what are they going to look like,
what are are they going to look for? And what are you going to build where you can sell your business for two million dollars and fifteen years time.
Oh that sounds nice, doesn't it?
Look?
We'd like to hear from you as well, because it's been well, it's just from my own point of view've always been curious about setting out small businesses and what it takes because I think a lot of the time when it comes to discussions around politics and things, people like to have a crack at business owners without having an inkling on it, absolutely on how incredibly difficult challenging
it is. So if you're one of those small business owners that has either made a great fist of your business and you're doing very well, where did you go right? But also if you feel like sharing experience on something where you went wrong, because many successful business owners will probably say, look, you know, I might be successful now, but about a few failings. It give us a court
we'd love to hear your experience with Martin Hawes. This is smart money and news talk, said b. It's twenty four the number is oh, eight hundred and eighty ten eighty of course in text on nine two nine two. But we'd love love your input. It's twenty four past five. Yes, and we're with Martin Hawes. This is smart money talking about the dos and don'ts of setting up a small business, but of a bandwidthm with Martin. But joining us is ivor good day. A bit of a delay on the line there either.
Hello, Yeah, I'll just put you. I'll just take your speaker mm hmm, okay, right right, you're on phone. Good Yeah, yeah, So you're just you're just mentioning that if you started a small business and you're not very successful, you'd like to hear from us.
Yeah, sure, is that you?
Yes, yes, yes, I started a lolly importing company with about five thousand dollars from a second man vati bike in nineteen eighty eight and sold it to my brother, he's a couple of years older. Million two thousand and five for you know that part of the deal. It had a million dollars in the bank.
Oh really, and where do you consider went right?
Yeah, well, hiring staff, hiring staff, yeah, yeah, yeah, lots and lots of stuff.
Yeah, what did you have to hire a lot because you also had to fire a lot? What did you distill your if you had a couple.
Of I think they only fired two people. Yeah, I had about I had about twenty workers at one stage, and then talking them on a fifty fifty partner and he sort of turned it back to ten, but not firing them, just that just saying I don't need to and afford it, but then actually fired not two people.
Yeah. Hey, there's a bit of a delay on the line either. Unfortunately, I don't think we can because we're about five seconds behind each other. So it's going to be a bit of a different bit of a difficult conversation, which is a shame. But I guess, you know, hiring the right stuff, as you say, Martin, that's the bleeding obvious, isn't it. You know, if you hire bad stuff, you're.
Screwed, and it's one of the hardest things as well, you know, and management by yelling doesn't work anymore. Yeah, you probably won't. It was certainly a thing in the past. I think there's too probably fundamental barriers for a lot of small businesses want to be staff. The other would be marketing, marketing, marketing slash sales. I guess that people often have an expertise, and it may be an expertise and plumbing or or you know, some sort of trade
or something like that. What they don't necessarily have an expertise and it's hard to buy in is marketing slash sales and staff.
Yeah. Actually, did you see there was There was a case that not particularly any particular reason, but was there's a report in the Herald about a company in Dunedin that's gone well. They're no longer a small business, they're quite big. Who started these guys decided they could design their own coffee roaster and they were One of them was software sort of expert. I can't remember the details.
But now that they've gone global, they've made manufacturing thousands of coffee machines and selling them around the world.
I did see something like that. It never ceases to amaze me. The little niches like you know, somebody important lollies, no doubt, bagging them up into different bags and putting a different label on them or whatever, and being able to make good money out of that. Similarly, with coffee roasting, you would have thought that that was a market that was pretty well penetrated and catered forth, and then somebody makes a coffee roaster.
Yeah, I just I guess. And that was actually one of the story that made me ask you the question around getting capital investment on board and getting other people and stakeholders. And I think that would be one of the mistakes that people make when they're getting for successes to go no thanks, hey, look on that side, because these guys made us. I think one of the guys who was behind it was a software engineer. One of your interests that we're going to talk about today as
well was tech investments. That's my clumsy segue talking about tech. But I've been asking about this because we did see some dramatic headlines with the amount of money that the share price for Nvidia at one station. It generally has gone through the roof, hasn't it. Yeah, And so that would attract a lot of intention attention. Are you quite curious about the teach investment market.
I'm heavily weighted to it on my own portfolio. Now that my own portfolio is not exclusively tech, but it's it's certainly got a favor deteck at it and it most definitely has en Video and that's the company that makes most of the chips for right AI.
When did you know?
I think it's been in the portfolio for three or four years on you Martin, Yeah, but it should have been twenty years ago, because over twenty twenty year period in videos returned thirty eight percent per annum. How much so thirty yeah, this is on average over twenty years thirty eight. If you invested an twenty years ago, you put your money in on listing, you have had thirty eight percent per random gains. I'll tell you another one, which I think if anything's even even better is Amazon.
Now.
Amazon listed on the USAir market twenty seven years ago. And if you'd come to me and you said, oh, look, you know do you know do you know Amazon? I would have said, yeah, yeah, yeah, I get a box of their books most weeks.
And they started off as books, didn't they.
That was a bookseller, yeah, basically, And you know I would have said, well, you know, they're a bookseller by a few shares shares if you like. But they expanded into just about everything known that you can buy and sell. It happens on Amazon now. But also they've gone into I think about a decade ago, cloud computing as well,
which is a hugely profitable part of their business. They for twenty over twenty seven years, they've given a thirty three percent thirty three point five percent return per anim so just an absolutely stunning performance. I know, I know nothing nothing like that for such a long long period of time. But there's lots of others as well. You know, Apple twenty one percent over thirty four years, Google twenty
three percent over twenty years. You know, the tek is not just beginning to tech has been around probably since the Enlightenment. That actually, but this curve is ever steepening, and there is so much disruption now and tech is becoming so front of mind that the returns are just getting astonishing, and that you know, it's not going to go away, it's going to people can keep them.
Somebody's just messaged me now saying I'm vested in Tesla in twenty eighteen and it paid for most of my house deposit in four years. Yes, And I think the problem is there's there's a problem with with these stories though is that it leads to this mentality that you can just pick the right spot stock you got it made.
So if you bought Amazon shares in twenty in two thousand, you could have bought them for ten cents, you know, or twelve cents, and even in two thousand and five, I can see you could have well two dollars right, and now they're worth what a couple of hundred bucks and hundred and seventy dollars? Yeah, yeah, so yeah, not a bad not a bad return if you get on the ground level. But how many people really spot what? How do you spop the next mover?
No? Nobody and tim you've got in front of me, Because that was one of the things I was going to make that I think was John Bogle said, don't go looking for a needle in a haystack. You're not going to find the one company if you if you're really interested in AI, for example, as an investor, you can't just sit back and say, so who's the leader in IAI Well it's Microsoft, okay, so I'll put all my money in Microsoft. It's probably not going to work
because Google could leap for them tomorrow. Instead. I think you've got to think about well, you say, who are the producers of AI? And that's the like some Microsoft, from Google and a whole host of others. Who's enabling it in vera am the various other companies, And who are the users? And that's like Amazon and the banks and lots and lots of different different businesses. And then you've got to you probably own thirty odd companies to
get your exposure properly to AI. So you're not just going to pick one.
What makes tech so good? I mean is it a sector that and are there vulnerabilities that if you look to the future, Because some people do like to specialize just in a particular investment sector, don't they. Yes, I mean look at New Zealand. I mean the number of people who put everything into property for instance. But I mean if you'd start all your money into in video
into tech stocks, you probably be doing all right. But what are the risks and how do you sort of how do you sort the wheat from the chaff when you're putting together a tech portfolio.
I don't think you put together a tech portfolio. I think you do it through managed funds. They give you the exposure generally in that market and are.
So unexciting because I want that two thousand percent gain.
Yeah, so the returns might be only one thousand percent or five hundred percent or something like that, they will still be very good. I think that's you're you're going to look for the needle in the haystack, and if you find the needle, you'll you'd be absolutely delighted. But
the chances are you're not going to find it. So I think you're much better to get wide exposure over thirty companies or even fifty companies or even one hundred companies who are associated in the in the area investing in that in that area, it's very Unless you're going to spend all day every day, yeah, trying to study this, you're very unlikely to pick the winner.
Okay, look, I want to dig it. We're going to dig into this a little more. Actually, if you have any questions on the tech stock industry, because Martin's quite into it, and so I tend to think while we've got the guy who's into it, who knows a little bit about finance, having written his twenty fourth book. Oh, by the way, have you got a title for it?
No, I haven't. It's probably going to be entitled something like Retirement Ready, because one of the things I was really concerned about was that being oft retirement age, that I could quickly and easily push the button and become retired, if that's what I wanted to be.
Pushing the retirement button.
Yeah.
Yeah, that's not a bat bee. You go. You can have that. You can have that for nothing. I'll be back in just a moment. It's twenty minutes to Sex News Talks. He'd be welcome back to Smart Money on the weekend, Collective ont and Beverage. My guest, Martin Hawes, author of twenty four twenty three coming on twenty four books. I was always about to say twenty five because I was chatting with my producer that I have an idea for your twenty fifth book mark and it as actually
it's a corker, and we'll talk about it later. Anyway, Let's, by the way, with one bit of advice on small business, just to text here before we go to our call a Ross. This is probably quite good advice here from the small business owner says we have a small business that we're about to wind up. In fact, they're seeking some legal advice which we won't be able to help with. But it says we put our house under family a family trust to protect it in case the business failed.
Probably not a dumb move, is it, Martin.
Now, A lot of people would do that, and you know a lot of people would be advised to do that when they're going into business by their lawyers and accountants.
But Sue's asking, how do we go about unwinding it? But I think we'll leave legal advice to other people. Yeah, okay, let's take some calls Ross.
Hello, Yeah, you true? It mean that? Just ranked it mean that you said before that.
We're a bad connection.
Oh you did?
Yeah, you know we had a bad connection. You're talking about the one we were talking about.
Oh yeah, yeah, yeah, the guy that said that he made god At deposit from his house from an American seer market. That be an awful lot of money, because you know, the shear market, the currency at the moment's only sixty one dollars. Sixty one dollars through one hundred New Zealand you've got in. So they reason, I won't put a lot of money into epple because yeah, it is quite a big rest posed to something that's but lower. You can get more for a better price, you know.
Yeah, but ross that there. I mean that that person was just lucky. That person speculated that person wasn't. It was an investing. It was just a very short term play and he managed to get the timing right. Forget about whatever about the exchange rate, whatever about anything else. There was that fear better playing old luck.
And they actually, you know what, she's given me permission to say this, But it was my producer, Tyra. That wasn't. It wasn't anyone from overseas Ross. It was Tyra. She invested in Tesla, thought she liked the idea, and boomfa. She's brought her first house. But she would acknowledge it was like I was looking at it. I said, can I out you now? Can I assert to you Tyrann? She goes, yeah, all right, and she just said it was She said,
I was seventeen. Look at this. I was seventeen. It was pure luck and I had no idea what I was doing. And you know what, good on you.
Yeah, but kids don't try this at home. I would not be suggesting that somebody puts, you know, all the money that they've got for the house to pulse up on some tech stock or any other stock.
No, I guess at least if you do it when you're seventeen, you're going to recover. But anyway, so I hope that was a nod of the head I could out you, Tyra, because now we've done it on nationwide radio. I think there's a slight sense of like, I know I was lucky, but I feel quite smu and good on you. Anyway. Hey, sorry, let's get onto the tech thing.
What's so the managed funds thing? I guess you know when you mentioned the way to get into the tech industry and tech investments is through the managed funds because they are spending all their life and their time on it. The only thing that some people will have this sort of thing. As soon as you have a managed fund, it always feels like the returns you get are always a bit muted. But is that the case when an industry goes gangbusters?
Yes, it will be because they are owning not only the one as, they're owning the losers. And you know, diversification comes with it takes the volatility out of it, and tech stops are volatile. You know, I ought to make that warning, right, you know, they are very volatile, they're ups and downs. You asked before what the risks of this is. It isn't the tech industries will all just go away or stop doing whatever it is they're doing.
It's that the shares will be volatile, and if you end up being rattled out of the market in a big downturn, then you no longer have your money in that when the upturn comes and tim The other thing to say is that when we're talking about tech, it's not just AI, and it's not just robotics or automation, or it's gene therapies. It's blockchain, it's battery storege it's clean tech. There's a whole bunch of different of different technologies that you can invest in.
So you can choose. You can choose, like if you like the certain area of technology and an area of science which you think is really rocking and rolling, you can look for a fund that specializes in that part of that industry, can.
You, Yes, you can. So you can buy a managed fund, for example, that invests only in medical devices. And as somebody who's had two operations in the last week, while medical devices is something close to my heart, but you yes, literally, but you know there are you know, lots and lots of medical devices that are being invented. Some come to market and they don't they don't work properly, or they
don't sell properly. Others will be incredibly successful, and if somebody owns the patent for that, they make a large amount of money.
Do most large I mean the most credible investment fund managers will they have that ability to Will they have a fairly broad portfolio where you can go, look, I'm interested in tech, but I really am interested in medical devices, and that they should have something for you.
Yes, you know there well, a lot of fund managers or a lot of financial advisory houses will have, you know, the ability to point those out. The other thing to say is that most people who are listening to this will have key we Save accounts and keep we Save. You know, most key we Saver providers now will have exposures to technology, possibly quite big ones, some more, some more than others. I personally, well, with my own portfolio, it's reasonably heavily weighted towards technology.
Yeah, is there a part of you He mentioned medical devices just as a throwaway, but is there just getting to know Martin Hawes A little bit more, is there a part of Martin Hawes that has spent some of that money you set aside for medical procedures and you're thinking, you know what, I'm going to go get some of that money back. So I'm going to tell me, I'm going to go for looking for a fund that specializes medical devices because I want some money out of you. Guys.
No, no, no, but I I'm not sure. I don't manage my own money now, somebody else manages for me. And there was a fund in there which was a medical device's fund. I don't think there was, okay.
I just thought there was a slightly revenge investment sort of thing, like, well, I've had to spend thousands on this operational go get some of it back. Hey, Martin, just hold there, because we'll be back in a moment. Because the one final question I want to ask Martin is about how do you find that investment fund manager? And because everything involves research, doesn't it or does some of it involve just a little bit of blind luck? When you buy Tesla shares at the age of eighteen
and buy a house as a result, it's ten to six. Yes, welcome back to smart money. When my guess is. Martin Hawes actually just had a clarification from my young producer Tyra about because some think she's worried. People think that she thinks she had a lot of money and shoved it into Tesla. She literally had a job at McDonald's and every spare sense she actually shoved into Tesla and it just happened to work out quite well for her.
She said, her story is about just dumb luck. But I tell you what, if it's good on you for at least being in the game. Hey, Martin, So if you're looking for a fund manager and someone is listening and thinking, you know what, Actually I didn't realize you can invest in specific injury in industry, so specifically any Obviously you can't recommend. You're not going to recommend any particular fund man. But how would people do their research on that aspect?
I think one of the key key things there were two things to think about. One is you might be looking for fund management. You might also be looking for a financial advisor, because financial advisors, you know, run people's money, you know, and they invested for them. A fund manager, I would be tending to look for somebody who's been around and had good performance for a fairly long period of time.
Yeah, so not just sort of like twelve months. Look at me, I'm the miracle kid.
No, there's a very good story from a woman called Kathy wood Ark Investments. She's still investing in technology out of the US. But in her first year, which was about five five years ago, maybe seven, she produced one hundred and fifty percent and just billions of dollars flooded than to that fund.
Wow.
She's never performed any good ever since.
So don't go for the one hit wonders. No, exactly excellent. Hey Martin, thanks so much for your time and stuff, and now that time's flown by. Yeah. Then my only disappointment was I really wanted you to say that you bought in medical investment funds as a revenge for your procedures. But hey, so when's the book out?
Probably March.
I think it is excellent. Okay, well, good luck we're finding that title pushing the retirement button. That's my suggestion. Anyway, Thanks Martin, good to see you, mate, and thanks you Jim. There we go. Hey, that wraps up the show. Thank you so much for your companies, and thank you very much to my producer Tyra Roberts for looking after me so well and actually sharing her little story there about
a bit of luck on the old Tesla. She is good on your Tira job at McDonald's, put everything in at the age of eighteen and to Tesla got her house deposit. By the way, that's not the moral of the story. The moral of the story is diversification and fund managers, not just luck, but enjoyed hearing that story. Hey, Sunday Out six is next, so stick around for Petra and Frank and we'll be back the same time next weekend. And as you know, you can check out the podcast.
There's some great material on there. Look for The Weekend Collective on iHeartRadio. Have a fabulous evening, or catch again soon for more from the Weekend Collective. Listen live to News Talk ZEDB weekends from three pm, or follow the podcast on iHeartRadio.