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The Reason Why I Keep A Lot Of Cash 💵 In My Bank Account 🏦

After selling three companies and a house last year, they're sitting on over 10 million in cash instead of investing it, citing inflation fears and pointing to Warren Buffett holding 25% of his company's value in cash.

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MoreMozi

Alex Hormozi ›

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Key takeaways

  • >> That would be significant.
  • >> It would be significant.
  • And so, that is why I have more cash than I probably would normally.

Chapters

  1. 0:00
    Abschnitt 1 Assuming 10-plus million dollars sitting in the bank today, maybe thanks to Layla, closer to 15, I'm guessing.
  2. 0:33
    Abschnitt 2 >> to be clear, it's not working for you.

Full transcript

Locally archived YouTube transcript with timecodes. Speakers are assigned heuristically and may be corrected editorially.

2 segments

0:00Assuming 10-plus million dollars sitting in the bank today, maybe thanks to Layla, closer to 15, I'm guessing. >> Oh, no, way more than that. >> In cash. >> [laughter] >> In cash. >> Way more than that. >> Okay. >> I sold three companies last year and a house and two cars. So, I sold everything last year. >> You're looking at what's happening, predicting. >> There was inflated pricings. I mean, a lot of people are really afraid of inflation and I think that's super warranted. Like looking at Uncle Warren, right? He's got 150 billion in cash sitting right now. He's not worried about it. Like, "Hm, he's seen more cycles than I have." So, he's got 25% of his entire company value sitting in cash.

0:33>> to be clear, it's not working for you. I mean, it's earning a tiny amount of interest compared to what you could have in stocks or investment properties. >> So, a little inflation is not going to kill me. But, like when you look at the NASDAQ during the the crash in whatever '01 or whatever the year was, it dropped by 78%. >> That would be significant. >> It would be significant. Just given the timing, I'm willing to wait a little bit and see what's going on. And so, that is why I have more cash than I probably would normally.