Breaking News on Inflation & David Meltzer on Making Millions and Working with the Real-Life Jerry Maguire

Summary

Money Rehab with Nicole Lapin: Episode Summary Title: Breaking News on Inflation & David Meltzer on Making Millions and Working with the Real-Life Jerry Maguire
Release Date: December 12, 2024
Host/Author: Money News Network

---

Introduction

In this compelling episode of Money Rehab with Nicole Lapin, listeners are treated to a dual-focused session combining a thorough market analysis with an inspiring interview featuring David Meltzer, dubbed the "Einstein of Wall Street." Hosted by the Money News Network, the episode delivers bite-sized, actionable financial insights alongside a deep dive into Meltzer's extraordinary journey from immense success to significant personal reinvention.

---

Market Update: Breaking News on Inflation

Hosted temporarily by David Meltzer due to Nicole Lapin's maternity leave, the episode kicks off with an in-depth analysis of the current stock market trends as 2024 draws to a close.

Record Highs Amid Election Cycles

Meltzer provides a forensic breakdown of the market's performance, highlighting a consistent pattern observed throughout presidential cycles:

David Meltzer [01:12]: "We've been a little bit flat for a couple maybe a week and change, right? I told you that eight out of eight times in the presidential cycle."

He explains how markets typically rally into elections, experience a pullback post-election, and then surge towards the year's end, a pattern observed nine out of nine times.

Impact of Nvidia's Monopoly Accusations

A significant market movement is attributed to accusations against Nvidia for monopolistic practices in the AI sector, causing a temporary downturn:

David Meltzer [03:24]: "An attack on Nvidia around the monopoly question on Monday. And so the whole market kind of fell out of bed."

Meltzer advises investors not to overreact to such events if fundamentals remain unchanged, suggesting these downturns as prime buying opportunities.

Nasdaq Sees Historic Surge

Highlighting a landmark achievement, Meltzer announces Nasdaq's first-ever close above 20,000 points, driven by record-breaking performances from tech giants like Amazon, Google, Meta, and Netflix:

David Meltzer [05:01]: "Today was the first time in history, once again that Nasdaq closed above 20,000. That is a huge landmark."

This surge marks a significant milestone, underscoring the resilience and growth potential within the tech sector.

---

Interview with David Meltzer: Making Millions and Personal Reinvention

Transitioning from market insights, Peter Tuchman introduces a heartfelt interview with David Meltzer, exploring his personal and professional journey.

Early Ambitions and Family Influences

Meltzer delves into his early life, highlighting the profound impact of his family's struggles and his mother's unwavering emphasis on education:

Nicole Lapin [10:13]: "I wanted to be rich. That's it. So I'm in a good place here because I think a lot of young 20 year olds that were around stock exchange, that's why they were here."

Meltzer recounts his transition from law to sales, leading to a lucrative exit from Thompson Reuters in 1995, setting the stage for his subsequent ventures in technology and venture capital.

Overcoming Personal Trials

The conversation takes a poignant turn as Meltzer shares his battle with severe health issues, including COVID-19 and meningitis, which nearly cost him his life. This period of adversity became a catalyst for his spiritual awakening and commitment to empowering others:

Nicole Lapin [15:29]: "I think what creates the value add room. If you really believe that there's more than enough of everything for everyone."

Philosophies on Money and Giving

Meltzer emphasizes the importance of gratitude, forgiveness, and the principle that giving leads to receiving. He advocates for a mindset shift from scarcity to abundance, encouraging listeners to find opportunities in setbacks:

Nicole Lapin [17:21]: "I believe that there's more than enough of everything for everyone."

Mission to Empower Over a Billion People

A central theme of the interview is Meltzer's ambitious mission to bring joy and empowerment to over a billion people. He discusses the exponential impact of small acts of kindness and the importance of authentic human connections over superficial interactions:

Nicole Lapin [26:30]: "I'm on a new mission. What's that? I said to empower over a billion people."

Meltzer shares insights on maintaining personal well-being to effectively support others, highlighting the balance between self-care and altruism.

Lessons on Resilience and Fulfillment

Reflecting on his experiences of losing immense wealth and rebuilding his life, Meltzer underscores that true fulfillment comes from passion and purpose rather than sheer profitability:

Nicole Lapin [28:31]: "Happiness. This is the pursuit."

He advises listeners to pursue meaningful goals aligned with their values, suggesting that financial success naturally follows when one is driven by genuine passion.

---

Key Takeaways

1. Market Dynamics: Understanding historical market patterns, especially around election cycles, can provide valuable insights for investors.
2. Investment Opportunities: Short-term market fluctuations, such as those caused by individual stock controversies, can present lucrative buying opportunities for discerning investors.
3. Personal Resilience: Meltzer's journey illustrates the power of overcoming adversity through gratitude, forgiveness, and a steadfast mission to help others.
4. Philosophy on Giving: Adopting an abundance mindset and prioritizing giving can lead to greater personal and financial fulfillment.
5. Mission-Driven Success: Aligning one's career and financial goals with a broader mission can create lasting impact and true happiness.

---

Conclusion

This episode of Money Rehab not only equips listeners with critical financial insights but also inspires them through David Meltzer's remarkable story of resilience and purpose-driven success. Whether you're navigating the complexities of the stock market or seeking personal growth, Nicole Lapin and her esteemed guests provide valuable guidance to help you reclaim and rehabilitate your financial and personal well-being.

---

For more episodes and personalized financial advice, consider reaching out to Money Rehab at [e-mail].

Transcript

[Nicole Lapin]

I'm Nicole Lapin, the only financial expert. You don't need a dictionary to understand.

[Peter Tuchman]

It's time for some Money Rehab.

[David Meltzer]

Hey everybody, it's me, the Einstein of Wall Street. From the floor of the New York Stock Exchange. Ladies and gentlemen, I'm going to be your temporary host, sitting in for Nicole Lappin of Money Rehab. As she is on maternity leave. We're going to be doing episode after episode every day of what the heck's going on. Giving you a forensic breakdown of what's happening into the market as we end 2024. And stay tuned for some of the best interviews I've done since the beginning of this show in 2024. In food, in fashion and finance, and fun. We'll be seeing a lot of you. So stay tuned.

[Peter Tuchman]

Three, two, one. Hey, everybody, it's me, the Einstein of Wall Street. We are here with trade like Einstein. I am Peter Tuchman and we're here on the floor of the New York Stock Exchange. In the balcony. History is made in this building every single day. Somebod long term experience. I've been here for 137 years.

[David Meltzer]

It is my responsibility to help teach you how to navigate this market successfully.

[Nicole Lapin]

Boom.

[David Meltzer]

Hey everybody, it's me, the Einstein and Wall street from the floor of the New York Stock Exchange. What a spectacular day for the last two days, right? Let's, let's go over it, man. Let's forensically break this down because it is so significant. Friday we hit record highs, okay? Record highs due to the. We've been a little bit flat for a couple maybe a week and change, right? I told you that eight out of eight times in the presidential cycle.

[Peter Tuchman]

Right.

[David Meltzer]

We used to have a market rallied into the election and then we had a little bit of a follow through on the election. Then we had the market pull back until November 21st, 22nd, when we started revving up towards the November Black Monday, Black Thursday, Black Friday, you know, big Thanksgiving sales. And so we followed that thing for the ninth time. And then what you end up seeing is Santa Claus come. The market tends to flatten out as it kind of gets its bearings for the end of the year. And then Santa Claus comes to town and we have a rally into the end of the year. Well, nine out of nine. It's happened once again. Market rallied beautifully coming into the election. Nice rollover the first two days. Three days after the election, we had, we had to look up 1200 points after the election. Then we had deferred the next couple of days. That was sort of Relief rally. And then we had probably a couple of days of a Trump rally, right? And then the market sort of flattened out and pulled back for a couple of weeks trying to get bearings, all things, waiting for the unemployment numbers and the payroll numbers that came in last week. And they really, they do not disappoint, right? The numbers came in on Friday, they were good. Not great enough to take the interest rate cut at the next Fed meeting off the table, but good enough to make the rally market rally into record highs on Friday across the board, right? So just a few days ago we were at record highs. Then we had Monday and Tuesday market started to pull back. The reason market pulled back on Monday was all about Nvidia. Nvidia was being accused of some monopoly, right, Trying to take over and corner the market in AI, I guess. And so that kind of took down the whole market with it. We know that happens very often. Seen it with Walmart, seen it with Tesla, seen it with Nvidia. When an individual stock which carries so much weight in an index and just in the psychology of the marketplace, right, there's some stocks that everybody gets that they've gotten their attention and when they do that, everyone throws the baby out with the bathwater, right?

[Peter Tuchman]

And that.

[David Meltzer]

And so the market tends to get flushed out with it. Well, that's happened on Monday, right? An attack on Nvidia around the monopoly question on Monday. And so the whole market kind of fell out of bed. When those days happen, I always say to people, look, if nothing's fundamentally changed, let's take that stock out of the equation and not really overreact. And those are the days where the opportunities lie. If the market sells off around one stock, but we've got everything else getting dumped with it. And you didn't want to pay top dollar for the names. You've been looking at stocks where you like the people, the process, the product and the profitability, right? The four P's then go after those names on those days, right? Because nothing has fundamentally changed. Find an opportunity and scoop stocks at a discount of 5 or $10 that you didn't want to pay top dollar for when the market has these little bit of pulls backs. Monday, Tuesday, I said it to you. If you go back to the videotape, right, Like Warner Wolf back in the day, I said don't get excited about these days. We're off 150 on the Dow, 25 on the S P. It's nothing, nothing to be worried about. I believe that we're going to have some numbers Coming in on Wednesday, Thursday and Friday. And I believe they're going to be good. So hold your ground. And if you listen to me and I'm not your financial advisor, right. Disclaimer. Disclaimer. Disclaimer. But it turned out to be right. CPI came in this morning, right, looking for 3.3. Came in at 3.3, did not disappoint. Expectations were delivered and the market rallied. Then we've just had, you know, it's probably a bit of a short cover. We opened up about 25 handles. We ended up closing up 55 handles.

[Peter Tuchman]

Right?

[David Meltzer]

A spectacular rally. Beautiful, beautiful, solid rally. Today was the first time in history, once again that Nasdaq closed above 20,000. That is a huge landmark. Some people say the Dow is no big deal, 40,000, 50,000, whatever it may be. But NASDAQ closing above 25, 20,000. Significant. Amazon, Google, meta, Netflix, all closed at record highs. Not 52 week highs, record highs today. And that's what took the Nasdaq to a 20,000 point closed. We closed at 20,032. That is huge. So not only we had 54 record highs across the board in the markets, not only have we are trading at a record high in the Dow, not only have we taken the s P to 61, just almost 6,100, but now we have taken in the Russell trading at record highs, but we've taken the Nasdaq, the great tech sector of all time, to a close above 20,000. First time in history. That's all I got to say about that. Ladies and gentlemen, it is beautiful to be with you. Trade like Einstein. Money News Network. I love it, I love it, I love it. You got to be in it to win it. Check it out. Have a great holiday.

[Nicole Lapin]

I love you.

[Peter Tuchman]

Hold on to your wallets.

[Nicole Lapin]

Money Rehab. We'll be right back. And now for some more Money Rehab.

[David Meltzer]

Hey, everybody, now that we've done the wrap up on what the heck's going on, episode 9487, please stay tuned for one of my favorite interviews of the year from 2024. It's coming right at you.

[Peter Tuchman]

Hey, everybody, it's me. Beyond Senator Wall street from the balcony here at the New York Stock Exchange. Ladies and gentlemen, I have interviewed millions of people all over the world in finance, in fashion, in every possible genre and sector in this world. But rarely have I ever had anybody who was as meaningful in my life than this gentleman here. I always get emotional about it. So it's important for you guys to. This is David Meltzer, one of the most powerful people in social media, in life, and joy and kindness, in literally everything. So when I was. You may not know this, but in March 15th of 2020, I got Covid. I was like, patient zero. And soon after that, I ended up getting meningitis. And I was given, like, I don't know, two weeks to live or something kind of crazy like that. And, you know, as God does his amazing work and social media does the rest, I was sitting at home in bed and my Instagram pops up and there's a feed, and it says, you should probably get to know this person. And it was an interview of David with someone else. And I watched it, and it was one of David's unbelievable, inspirational motivational videos that he does. And it just kind of clicked and connected to me.

[David Meltzer]

And I reached out to him and.

[Peter Tuchman]

Said, I don't know if you know who I am. And he said, yes, I do. And we got on a phone call immediately. I was. I didn't even know that you could kind of do that on social media. And we ended up forging a relationship, and we've been friends ever since. And so that, for me, is like one of those godly God moments, right? A God shot in every possible way, like God interrupting my death. So, anyway, David Meltzer is an extraordinary human being in so many ways. He's had an amazing journey. We share so many different things in common in our messaging and the story that we love to tell the world, which is all about success and failure, how very often we learn much more from failure than success. And we've had our own share of plenty of that share of that in our lives. And so, look, I think it's important for you all before or after this interview to go read up on David Meltzer, find out more of his story, because I can't tell the whole thing here in this short interview, but it's super important for you to know everything in the nooks and crannies of where he came from, his journey, what it was like, what happened in his life, and what it is like now. Because it's extraordinary if any of you are struggling or any of you are looking for the really, the big, brighter picture in life, this gentleman will help you get through that and share with you every bit of inspiration and motivation that you need. I am honored to have you here on the stock exchange. Thanks for coming. Look, you've done millions of interviews. You've interviewed lots of people. And, you know, there are some. Everybody you know has heard about some of your, you know, Biggest, biggest failures and biggest successes and whatnot. There are parts of the story that I've never heard and so I really want to. First of all, I'm honored. Thank you.

[Nicole Lapin]

Thank you for having me.

[Peter Tuchman]

Yeah, we should be honored.

[Nicole Lapin]

I'm an Einstein fan in so many different ways. But the Einstein of Wall Street's even better than the Einstein of Princeton.

[Peter Tuchman]

Exactly. Yeah, yeah, true. I hope so. Look, I'm picking up where he left off in so many ways so.

[David Meltzer]

And look, I'm not that so I.

[Peter Tuchman]

Know I look like him. Trust me, I'm not that smart. But anyway, so let's go back. What describe to me the 20 year.

[Nicole Lapin]

Old David Melcher, 20 year old Damon Meltzer. And I get choked up thinking about it. Wanted to be rich. That's it. So I'm in a good place here because I think a lot of young 20 year olds that were around stock exchange, that's why they were here. They thought money would buy them happiness, love. And for me, I wanted to buy my mom house. I grew up single mother.

[Peter Tuchman]

What a couple of souths we are, right?

[Nicole Lapin]

That's okay. But everything in my head, my identity was about what my bank account was going to be. And I was in college, playing sports in college but wanting to figure out how I was going to make the most money with my life to take care of my mom.

[Peter Tuchman]

Was that a function of sort of the, the, the, your relationship with your dad growing up and stuff like that?

[Nicole Lapin]

My dad left six kids in a two bedroom apartment, mom working two jobs. She literally would pack our dinner in a paper bag and then fill up Turner Styles and Union stores with greeting cards so we could eat. But education was super important to my mom. My siblings all went to the Ivy Leagues. They did very well. I was blessed. But I just wanted to make a lot of money. My entire identity was around money. And that carried through until about my mid-30s. And so it really was a significant thing. My nickname in college was Money Money. The first touchdown I scored in college, I flipped the ball to my coach and I said money Money. And I nicknamed me. Everything was about money.

[Peter Tuchman]

Okay, so from college you graduated college, what was it like? What. How did that go from there to be working at Sports1 Marketing?

[Nicole Lapin]

Sure. Well, I wanted. My mom had a saying like probably your mom did or this doctor, lawyer or failure. So I knew I didn't want to be a doctor. I hated hospitals. So I did my research. My oldest brother gave me this great piece of advice which I say all the time be more interested than interesting. So when I wanted to be rich, I did my research on law schools to find out what type of lawyer makes the most money. I didn't care what kind of lawyer oil and gas litigators made the most money. Tulane University had the leading admiralty law program. That's where I went. That's where I graduated. And ironically, when you want to make the most money, you don't care what you do. So I was always. Even though I got an oil and gas litigation job back in 1992 for $150,000 a year plus a lot of money, I took a sales job in legal research online from west publishing for a $250,000 comp plan to sell, have.

[Peter Tuchman]

A multiple stream of revenue.

[Nicole Lapin]

Even though my mom said they didn't know it was a fad, don't do it. 1992. So I ended up selling in nine months out of law school, I gave my heart and soul to everything, to selling. I was a millionaire nine months out of law school. The Internet wasn't a fading. We exited the Thompson Reuters In 95 for $3.4 billion, which was a huge exit, set my career in a different trajectory. I went up to the Silicon Valley. I was really curious about branding myself as a technology guru. And so I learned to raise money on Sandhill Road, which was a superpower. Still is a superpower. I do it mostly for charities now, but I, I raise a lot of money. And I learned how to do that in my 20s on San Hill Road during the Internet boom. By 99, I was CEO of Samsung's. Since Samsung's phone division, the first Windows device, it was a convergence device, not a smartphone. They ended up being smartphones, they called them. But ironically, you talked about the universe saving your life.

[Peter Tuchman]

Right.

[Nicole Lapin]

The reason I got hired by Lee Steinberg, the famous sports agent Terry McGuire. Right. Was not because I was a frustrated athlete who was a Jewish lawyer, which there was thousands of us that wanted to work with Lee Steinberg. It was because I had two things that no one else had. I had a technology background at the highest level early on, early on, at.

[Peter Tuchman]

The beginning of technology.

[Nicole Lapin]

Yeah. So. And I also was a venture guy. I knew how to raise money. And so Lee saw the future of sports in venture, in technology, not representation. He was a visionary, which made him Lee Steinberg. So that's why I got hired in 48 hours after meeting Lee Steinberg, because I was what he was looking for. And he would always say, the universe brought you to me. Where I met Warren Moon, the Hall of Fame quarterback Ironically, a hero of mine since 1978, when on the radio I listened to him as the first black quarterback to be the MVP of the Rose bowl and literally beat Michigan. I'm on house State fan. So I loved him. And he ended up being my business partner in sports world marketing.

[Peter Tuchman]

So that's. And we never hear that part of your story because we always hear about the fast track to when you had everything and then you lost everything. But what's important for people to notice because I didn't know that about you and what. It's clear you just told us at what point it was early on. You know, some people like, you know, are born like alcoholics. Some people are born with some good things and assets. Some are born with liabilities. It sounds to me like those qualities that have made you who you are now and have participated and been the components to your success and failure were in you at such a young age. It was sort of. It was forged by. By trauma. It was forged by discontent and watching your mom.

[Nicole Lapin]

Because that idea, I think my superpower is I. And Bob Parsons said it best to me. He's the founder of Go Daddy exited for 4 billion. So he said, dave, if you can learn to love what you do. And I rolled my eyes in the interview. I'm like, you'll have to work a day. But he didn't say that. Right. He said, if you can learn to love what you do and learn to love what you don't love and don't like and you can learn to love what other people don't love and what they don't like. And you do it consistently every day, enjoy. And you do it without quitting. It will tell you all its secrets. And that has so from enjoying. Yeah. Learning to enjoy what other people don't like. So I remember sitting in second year of law school at Tulane on my bed. My oldest brother passed away of aids. He was a doctor. I had law loans that I didn't know how to pay back. There was a recession in 1991, 92. And I sat on the edge of my bed and I told God, said, you allow me to pay off my laws and buy my house. I was shoveled shit with my hand, that's it. 12 hours a day, six days a week in gratitude.

[Peter Tuchman]

Like a little El right now. It's not a pre. Quote quote for grad, right? Yeah.

[Nicole Lapin]

And every day since then, everything was better than what I was willing to do to buy my mom a house. And still everything I get to do, I still have that Baseline that I am willing to do that. Enjoy. I have figured out how to learn to love some of the most awful times, most awful things in my life to find the light, the love and lessons in it. And I am a student of gratitude and of forgiveness. And I think those two things raise our awareness of what we're giving. See here on the side of exchange, there's a bunch of people believe the more you give, the more you receive.

[Peter Tuchman]

Right?

[Nicole Lapin]

And I believe that. Yeah. But you know what they don't teach you? It's really the more you give, the more you're given. So let's elevate our awareness through gratitude and forgiveness of what we're given even when we're dying on our bed. Right. You were looking for what you were given, not for to receive anything. You were just looking. And when we do that, then we have to work on something that you need to work on it's receiving then because people, oh, it's okay. I feel bad.

[Peter Tuchman]

You've helped them teaching me that.

[Nicole Lapin]

Right. Because that's what creates the value add room. If you really believe that there's more than enough of everything for everyone. Yeah. So here's how I believe. I give everything I have. I'm going to be given more, I'm going to receive more. I'm going to ask for more than more from people who have, then I.

[Peter Tuchman]

Have more than more.

[Nicole Lapin]

And I'm giving more than more to give more than more, to receive more than more, to ask for more than more. You see, I end up with more than more than more of everything where everyone else ends up in a zero sum game because you and other people that I've met like you, that are beautiful, my first responders, just generous, kind people, they give 100%, but then they only, oh, you know what? I want to take 98% because that's enough for me. Well, your new 100% becomes 98%. It's a zero sum game. You end up at zero sooner or later.

[Peter Tuchman]

You know what that relates to so much. One of my biggest messages to young people when I talk about the stock market is investing in stocks and not stock. We are like the most, the largest consumer generation probably in history. We want what we want when we want it. Right. I always have jokes and I do it myself. I see something on Instagram that I want, I'll go to buy it and then it will offer me it may be a $19 item. And then it will say, well, if you want it, if you want it delivered yesterday, you can pay $25 to have it gotten there quicker. So I'm paying more to have what I want, when I want it for the thing that it would have no value. And. But you're describing that we are really, we don't really think of the value of time, first of all, something we'll never get back. And also to think about that we are buying things, we need things, we think we need things. And there's just want and need and what that equation gives us at the edge, which is getting things at the minute we own them, they actually start to lose value. And so that's a mindset that I try to teach people that. Let's say you have the iPhone 12 and there's nothing wrong with it, but the iPhone 13 just came out and I need it, I want it, I have to have it. And that urge, as we know, also urges on walk around the block, have some chocolate. You won't urge it, you won't need that thing as much. And think about it. If you don't buy that iPhone 13, but you buy three shoes of Apple stock, suddenly you're going to be walking around not with the flashiest phone, but you're going to be able to show people that you actually the possibility that you bought something that the minute you bought it has the potential to go up in value and all that. So look, every minute with you is just so exciting for me. I wanted to know, when you went up to your interview with Mr. Steinberg, was it like, did everybody tell you you couldn't do it? You're crazy, don't go up there, he's going to send you away. You know, I'm confronted by young people who will always say to me, oh, I can't go talk to them. I can't knock on that CBO's door. I'm not good enough for that. That whole self esteem thing that people are afraid and I always go, there is no door. What's going to happen? The worst thing that will happen is, I'm sorry, there's no spot for you right now. Good luck and have a nice day, Right? There's no door that you can't go knocking. Did everybody tell you you can't do that?

[Nicole Lapin]

For sure. I actually went, even I wasn't looking for a job and he wasn't hiring. I went to go help him. I had a friend that, you know, they were having difficulty with Magic Johnson in a reality show for Showtime. And I just volunteered because I wanted to meet him. And they're like, my wife was extremely Concerned, like, why are you wasting your day going up to help this guy with his show and talk to Lee Steinberg? I said, because I can actually help Lee Steinberg. And I know when I help people, you see, my main objective is, would it help you if. Or do you know anyone that could help me? This is what I asked.

[Peter Tuchman]

Right?

[Nicole Lapin]

Right. This is how it is. I want to add value. And so, sure enough, I didn't know everything going on with Lee at the time, but he had never met anyone like me. Said because I came in unconditionally. Hey. He asked why I was asking. Well, this guy's my friend who told me he's having a difficult time getting the deal done with you. I told him I thought I could help him. He thought it was a good idea that I just joined the meeting. He said, that's really nice. And then he said, tell me a little bit about you and kind of hit it off. I want to get to that point because you talked about buying things you don't need for instant gratification. But also, people buy things, and this is a huge void that you don't need to impress people you don't like. There's a big void right between I am and this is what I want people to think I am. And things are so easily accessible to allow people to think we're something we're not. And I think what you stand out on social media to me, and I try to do the same thing, is that people will meet you and say, oh, my gosh, you're exactly the same. Right. I'm not standing in front of. I don't own. Right. You know, I'm not. I'm around amazing people, but I'm not posting pictures all day. I'm just posting words that I know would have helped me when I was 20 years old. And look, the worst thing that can happen is you're going to learn something. Is not even you get a no. Like, I don't even. Like, I am a big asker. I still ask. People ask me, how the hell do you lose over $100 million? I never asked for help.

[Peter Tuchman]

I.

[Nicole Lapin]

If I just want to come to you, and I sincerely mean this, that at the time that I was worth over $100 million, if I would come walk in here and said, I heard of this guy. He's the oldest broker on the floor. Can I talk to him? I have a few questions. And just said, here, I have all this money. Here's how right now I'm investing it. What should I do? I promise you, I'd be the one donating a billion dollars to Einstein's medical school right now, right now, in my 50s. Now, I'm going to get there now because I have your help. But I know that's true. I just never asked anyone for help. You'd be willing to help me. You would have thrown me out 100%.

[Peter Tuchman]

And I want to go back to what happened when you lost everything and had to reinvent yourself. But also, you're known on the street. People know who you are. You have embarked on this amazing journey. Everybody go read about this. Because there'll never be enough time that you've decided that your lifelong goal is to make 1 billion people, 1 person at a time, happy. Over a billion people, right? And bring joy, right? Which is so important. It's something that I learned from my parents, Holocaust survivors who came out of the darkest moment on earth, surely, and were able to forge an incredible love and friendship and told me that joy will. Joy and love and kindness will override any of the dark evil negativity that any, any devil can ever think of. But people will come up to you, right? People will come up to me. I now get noticed on the street and I love it. It's a lot of fun and whatnot. They won't even introd. And something I learned from you is the connection, right? They'll walk up to me and they'll just say. They won't say hello. They won't say their name. They'll just go, can I take a selfie with you? And I learned that.

[David Meltzer]

I don't know if it.

[Peter Tuchman]

Maybe if it was even Michael, Magic Johnson or somebody. I saw an interview. They said, so they get to take a picture with me. They'll walk away and they will have achieved absolutely nothing except maybe posting a silly picture of me and them on the Internet, as opposed to introducing themselves, saying hi and engaging, right, people, we have lost that ability or that necessity or to actually engage with one human being and another. We're living behind this screen of the Internet and social media and all that stuff. They will have achieved absolutely nothing. As opposed to saying, you know, hi, my name is. I follow you. I respect you. You know, maybe. Thank you. And then maybe at the end, can I have a picture with you? Yes or no? It's not that.

[David Meltzer]

But then.

[Peter Tuchman]

Or at least get my contact information. I mean, this is a journey you talk about, but you also talk about the fact. How can you embark on a journey to bring joy to more than a billion people? One person At a time that you've talked about that, that exponential human reaction that if I do it with you and you do it to someone else, and then three people tell six people, that's how you do it. But people think that that's way too big a thing to embark on, right? To ever do that. So I'm not going to do it. As opposed to, you know, that baby steps towards any goal is better than waiting for the magic moment to do it. Because you'll, it'll never happen.

[Nicole Lapin]

Most importantly, what people do is they limit themselves by their own self image. You will never overachieve your own self image. So the minute you tell yourself, oh, I could never do that, that's never going to happen. You're living in a world of not enough. Why? When there's more than enough of everything. So I look at things and say, okay. And even over a billion people, people who ask me like, sad guru, why not everyone? Why are you limiting yourself, Dave? I said, well, I did the math and it was a lot easier to say over a billion if that include everyone. I'm not limiting myself.

[Peter Tuchman]

You seem a little arrogant if I say everyone, right?

[Nicole Lapin]

But honestly, I literally found my wife to think I was crazy because as I recovered and learned how to make more money, help more people and have more fun, I had to now tell my wife, as we were back really on track, I said, hey, what can I do for you? And the first thing she said is, take care of yourselves. Because if you don't take care of yourself, you're not going to take care of all. And then I told her, hey, I'm on a new mission. What's that? I said to empower over a billion people. Because I know one particle of life, like you said, overcomes a million particles of darkness. Darkness is loud. It's very loud. Especially on the Internet. Yeah, it's so weak. And when you shine your light, people, they are powering, you don't even see them, they don't even want to approach you. They won't even comment on your stuff because your life's so bright. They know how weak they are.

[Peter Tuchman]

And the more you engage that like, it's like arguing with a drunk crazy person. You have achieved will achieve nothing because they're not listening.

[Nicole Lapin]

You're just giving it.

[Peter Tuchman]

Life is too short to even waste time with that. But that even goes back to like when we get on a plane, they always say, put up the oxygen on first so that you can help the person next to it. That's why. And my Wife said the same thing to me, may she rest in peace, that when I went through what I went through in life and tried to recover through whatever dark spots I was doing, challenges of being on Wall street during the crash of 07, was, take care of yourself. And then I know you'll be able to take care of us, because I know who you are when you're your best self.

[Nicole Lapin]

Right.

[Peter Tuchman]

Which is so important. So you. So you're Suddenly, you're what, 28 years old and you had everything in the world. What you thought you had everything. Yeah. What you had strived for. You had shitloads of money. And then you lost it all.

[Nicole Lapin]

At my dream job.

[Peter Tuchman]

Right.

[Nicole Lapin]

It was a glamorized stuck. You know, when you have everything that you thought you wanted and you have everything that other people want.

[Peter Tuchman]

Right.

[Nicole Lapin]

And you are empty inside, and you're still empty inside.

[Peter Tuchman]

So success without fulfillment. Correct. Right. Okay. Just an empty bag. A very full bank account with an empty heart.

[Nicole Lapin]

And you'll get this. When you understand the stock market, people attach their emotions to an outcome with no idea of timing, risk tolerance with no idea perceived value and bottom line. And that applies to my life because I was. I will be happy. When first it was 1 million, it was buy my little house. Then it was 10 million, that was 50 million. I'll be happy. When does it work?

[Peter Tuchman]

Right?

[Nicole Lapin]

And I. Last night we had Chris Gardner, Pursuit of Happiness. And I always joke with him, there is literally no pursuit of happiness. Happiness. This is the pursuit. And when you know what you want, who you can help, who can help you, and how best to achieve that in a divine direction, by learning. I promise you, you will have passion, you'll have purpose. In the Prophet, Profitability will follow you.

[Peter Tuchman]

Three P's get away from passion, purpose and profitability.

[Nicole Lapin]

You know what?

[Peter Tuchman]

Look, we could talk forever. And I want to do this again another time for sure. I think it's more. Look, when I thought of interviewing you, I've watched other interviews, and everybody goes back to the fact that you had all this and you lost all this and whatever, but I really feel like. I think we touched on so much more important stuff, because that's not the story. The story is what it was like and what happened and where you are now and what that mission is and how that mission now suddenly is so exponentially explosive. And that David's mission is to bring happiness to more than a billion people. Think about that. And it's almost unfathomable to imagine how powerful that is. But go check it out trade with Einstein. Money News Network. For me, this is the most meaningful relationship that I have in my life. It brings me joy every single day.

[Nicole Lapin]

Awesome. Be kind to your future self and do good deeds.

[Peter Tuchman]

There you go. Giddy up. Live long and day train.