My guest this week on the Wealthy Wellthy Podcast is Richard Thalheimer.
Richard is the former CEO and original founder of The Sharper Image. He led The Sharper Image to its peak as CEO with annual revenues of $750 million, 200 stores, catalogs, an online store, and 4,000 employees. The company became a public corporation in 1987 when its stock was listed on NASDAQ.
His experience talking to analysts for 20 years as the CEO of The Sharper Image has given him great insight into how Wall Street analysts think, and consequently, when and why investors should confidently follow their judgments.
Richard now runs The Sharper Fund, a successful private fund, and shares his investing wisdom and stock picks through his blog at TheSharperInvestor.com. In June of 2022, he appeared on Fox News and today we are grateful to have him with us today!
Discussed in Episode:
- Managing your Money & Your Emotions in a Bear Market
- Will this bear market turn around? When?
- How to manage your portfolio in a bear market.
- The psychology and emotions involved in a bear market.
- Does money buy happiness?
Richard shares his personal story of how he became the man we know today. From his early days selling door-to-door in San Francisco all the way to today where he is a major player in the Tesla stock market.
We reach many angles during this conversation. From entrepreneurship to investing.
And, to bring the two worlds together, Richard found early on that the best way to create cash flow within your business is to negotiate with your suppliers. He follows up with: “You’ve got to press quickly and take risks when you see something working. And the way you make sure it’s a good risk, is you have enough knowledge and enough experience that you’re sure your idea is a good idea.”
This is what your confidence will be built upon.
He reminds us to always be the first one to do it. The trick is to create something that people don’t even know they need. BOOM.
So, what is that for you?
Hint: You may just get inspired from listening to Richard’s life…happy visualizing!
Psst… BTW, if you enjoy investing like I do, Richard shares his top favorite brands to invest in! “Buy stock that you touch, feel and know.” – Richard T.
“You want to try your own ideas when you start your business– because you’ll have lots of them. And you see what works and what doesn’t work. And the ones that work yo try to expand as quickly as you can. And the ones that don’t work you want to turn off as quickly as you can. That is called management and OPPORTUNITY!”
“You need to communicate personally with as many people as you can. And the ones at the ‘lower’ levels rather than the ones at the ‘higher’ levels.”
“Be obsessive about refining the fine points to make them really perfect.”
Richards Book: The Sharper Investor: The Winning Formula That Boosts Your Returns
Join me for A Wise Money Talk!
LIVE on August 18th at 3:00pm CT 12 things to do with your money and business right now as the economy is changing.