KAN11 — -    2
20260808 081500 UTC
517 transcript segments
Google Cloud Speech-to-Text API (Chirp) + Gemini 2.5 Flash Non-Thinking
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Machine transcription. Treat it as a searchable index of what was broadcast, not a verbatim quotation record.

[00:03:51] Money, what a strange thing. Israelis have a lot of
[00:03:54] emotions towards money, but on the other hand, what do we really
[00:03:58] know about it? What do we know about our bank, about the insurance company,
[00:04:02] about the pension fund? We invest our money,
[00:04:04] right?
[00:04:07] It doesn't matter if you're young or old, from the center or
[00:04:10] from the periphery? We all have
[00:04:13] a thing with money. So we gathered all these Israelis in one
[00:04:16] room. Together, they will be our finance committee. Together
[00:04:20] with them, we'll understand where our money is and how to take
[00:04:23] responsibility for it, so we don't have to freeze it under
[00:04:26] the tile.
[00:04:38] What makes between 400 and 500 people leave
[00:04:40] their homes at 8:30 in the middle of the week to hear a lecture on
[00:04:44] investments? Everyone I talk to knows
[00:04:47] about it, understands, starts investing at one age or another. Now, at the point
[00:04:51] in time we are in, many people feel like they are missing
[00:04:54] something. My expectations here are that I will learn
[00:04:57] to appreciate the acrobatics for 10 years. At what age did you start investing
[00:05:01] roughly? A year ago. I'm already
[00:05:03] 51. Why did you come? I also saw
[00:05:07] it on Facebook and with friends who invest in individual stocks.
[00:05:10] I started investing with them. At the age of
[00:05:13] 22. Do you feel like me that some
[00:05:17] revolution is happening? Like everyone is there, do you feel it?
[00:05:20] Yes, father and son, I assume. Who among you knows more about
[00:05:24] investments at this stage? Generally. My
[00:05:27] friend, he kind of got into the field, so you could say,
[00:05:30] "beware of girls." At what age did you start investing?
[00:05:34] Around the army. They usually ask
[00:05:36] me if it's a trend? In my opinion, it's simply, like
[00:05:40] in the market, it's a correction, it's simply a correction. Of the distortion.
[00:05:43] I have a second degree in economics. I started investing, from around age
[00:05:47] 45 plus. Significantly improved, because the younger
[00:05:51] generation is
[00:05:52] on top of things.
[00:05:55] Today I feel that people on the street, really
[00:05:58] simple people in very ordinary
[00:06:01] professions, come and say, "How wonderful, I opened an investment account." We are now
[00:06:04] at the stage of everyone saying, "Why didn't you start
[00:06:08] today?"
[00:06:12] Without us realizing it, we are in the midst of a revolution, a cultural
[00:06:16] and awareness revolution, a capital market
[00:06:19] revolution. A decade ago, it was almost impossible
[00:06:22] to fill a hall with people who wanted to hear about the stock market. The capital
[00:06:26] market was a phrase that caused people in Israel anxiety
[00:06:30] or disgust. To get rich, people relied on education
[00:06:33] and hard work. Today,
[00:06:36] the capital market has become the talk of society, the way to make
[00:06:40] money. Whether you are in your 20s or 50
[00:06:43] plus, everyone wants to take part. How did this happen?
[00:06:47] How did we go from a generation that avoided the stock market like the plague
[00:06:50] to people here debating whether to choose Nvidia
[00:06:54] stock, Apple or Google? This is what this revolution looks
[00:06:57] like, and this is how you too can be part of it.
[00:07:14] Hello to the members of the Finance Committee, thank you very much for coming. I made my
[00:07:17] first investment, investment, who heard? The first money
[00:07:21] I lost was at the age of
[00:07:23] 24. I was a student and I had a friend
[00:07:27] and he said there's a stock and you buy it and that's it. I
[00:07:31] would love to hear a bit from you. I'm
[00:07:33] 46 years old, I invested two weeks ago,
[00:07:35] so it happened that at my annual meeting
[00:07:39] with my accountant he scolded me that I have to...
[00:07:50] Age 18, good to know. With how much
[00:07:53] money? A few hundred. Eldar, at what age did you start
[00:07:57] investing? At age 41, I got divorced,
[00:08:00] learned about money, and then I started investing, because before
[00:08:04] that it didn't speak to me, it's not something that... In my house,
[00:08:07] the stock market was considered a casino, like playing
[00:08:10] with money, something like that. I, how can I
[00:08:14] simply say? I come from a home of Holocaust survivors, so the attitudes
[00:08:18] towards the stock market were very very negative. Like what?
[00:08:21] Lazy investors. The dream was
[00:08:25] stability, workers receiving
[00:08:27] a salary. In our house, they didn't talk about the stock market, but the only talk
[00:08:31] there was was the trauma they carried from
[00:08:33] when the stock market crashed, when Messiah jumped from the roof, they lost
[00:08:37] the value of video. And as a child, I remember it seemed
[00:08:41] traumatic to me. And probably something of that stayed
[00:08:44] with you.
[00:08:48] Almost every cultural revolution is a reaction to the trauma of the previous
[00:08:52] generation. This trauma is the banking stock crisis
[00:08:55] in '83. The stock market crashed, people lost
[00:08:58] everything. Shalom Hanoch wrote that the public is stupid and therefore the public
[00:09:01] pays. Shalom Zvi, how are you? Hello. And a scar remained. How many
[00:09:05] years have you been in the stock market? Not as a writer. I started
[00:09:08] the stock market at the age of maybe 15, 16.
[00:09:12] Here it happened, here were the guys with the "sell, buy."
[00:09:16] Here was a center of great noise. There were several
[00:09:19] halls here. 27, a nickname that was given
[00:09:23] to the stock market in those days, was simply a casino. Like, if you wanted
[00:09:27] to know which stock would go up or down, you had to physically walk around here in the hallways and hear
[00:09:30] that you had a good connection with the messenger who came with the order books for
[00:09:34] purchases and sales, and you could get advanced information from him
[00:09:37] about what was going to happen. This was
[00:09:40] and within this, the banking stock crisis, which is also a kind of Sodom and Gomorrah.
[00:09:44] The banks bought their own shares, they took the
[00:09:47] savers' money, for example, right, for their
[00:09:51] own needs. The bank manager told me, "We will give you credit only if you buy
[00:09:55] shares of our bank." So I had no choice and today I
[00:09:59] am a shareholder of that bank. You asked for a loan from the bank, you asked for
[00:10:02] a million, the bank came and told you, "You know what, I'll give you two million, a million
[00:10:06] two, buy bank stocks."
[00:10:09] Now, how did the bubble burst? All
[00:10:12] sorts of news in the newspapers, and then a flood of sellers were
[00:10:16] there. What does that mean? They gave sell orders? Sell orders, right,
[00:10:19] who? The public. 422. There was
[00:10:23] a great risk of a collapse.
[00:10:55] It's still a casino today, it's not safe, it goes up and down, real estate, that's
[00:10:58] what she thinks, it's not solid, it's on the ground.
[00:11:02] This is from that crisis from the early
[00:11:05] 80s, yes, unequivocally, there are many
[00:11:08] people who said, "I swear I won't go back to the stock market."
[00:11:12] And that's how it
[00:11:12] was.
[00:11:21] Over the years, and I think it's really true about older people, people...
[00:11:26] And another very interesting
[00:11:27] phenomenon that happened
[00:11:30] from this was real estate, right? Because real estate, by the way, right,
[00:11:34] real estate is perceived by us as something not dangerous. I see the asset, I see the house, it's here,
[00:11:38] it's with me. It's not like stocks that I have no idea where they are and what they
[00:11:42] are and what their form is. But real estate is no less dangerous
[00:11:45] than the stock market, and therefore it's a psychological bias of what
[00:11:48] we perceive as dangerous in these financial worlds and what we perceive as
[00:11:52] safe. Now, the stock market, the element inherent in it is
[00:11:55] risk. In life, in daily life, it's
[00:11:58] the possibility that something bad will happen to us. In the stock market,
[00:12:01] risk is not a negative aspect. The higher
[00:12:04] the risk level of an investment we make, the higher
[00:12:08] the return we can expect over time.
[00:12:11] Therefore, if we invest for the long term, risk in the
[00:12:15] stock market is actually a good thing.
[00:12:19] Since that crisis, many things have changed. First and foremost,
[00:12:22] the stock exchange itself is more regulated, more institutionalized,
[00:12:26] more sophisticated. Its total value is almost two trillion
[00:12:29] shekels. All our savings for retirement are invested in it,
[00:12:33] and without it, the economy would not
[00:12:35] grow.
[00:12:39] The stock market is no longer a closed club; it's a place where you build
[00:12:43] a future. It's accessible to almost everyone, and those who understood
[00:12:46] this are the young people. How many young people?
[00:12:49] Very. Meet Tamar. She's living proof
[00:12:53] of the revolution taking place. What are you doing to her? I'm
[00:12:57] cutting her cuticle. I also need my cuticle
[00:13:00] cut.
[00:13:01] Thank you. Cuticle. 100%.
[00:13:05] How
[00:13:10] old are you? 13 and a half. How
[00:13:13] did you start? My parents bought me as a birthday gift the basic things needed
[00:13:17] for gel nail polish and I started doing it. I earned 7,000
[00:13:20] NIS a year. Amazing. And what do you do with the money?
[00:13:23] Most of the money I invest in the stock market in SNP.
[00:13:27] Most of the money you invest in the stock market? Yes. Why?
[00:13:30] Because if I don't invest, my money will slowly
[00:13:34] erode due to inflation.
[00:13:37] And I want it to grow and, like,
[00:13:40] multiply.
[00:13:43] Tamar is not alone. Hello. Meet
[00:13:46] Hagai. I have no
[00:13:49] chance. What?
[00:13:52] Yes.
[00:14:01] Tell me, when did you start with money? I was a relatively small child, seven, eight,
[00:14:04] something like that. My grandfather
[00:14:08] passed away, and I received an inheritance of 5,000
[00:14:12] shekels, plus there was always pocket money
[00:14:16] before holidays, birthdays. So a sum accumulated
[00:14:19] for you. A sum of about 10,000 shekels, something nice. So
[00:14:23] I invested in the S&P 500.
[00:14:26] And how much money do you have now? You know, 20 thousand shekels. What are you
[00:14:29] saying? But I already changed it from what I had,
[00:14:33] 80% S&P 500, 20%
[00:14:36] bonds. I changed it
[00:14:39] to Nasdaq, which was, which is very
[00:14:42] cool because I love technology. Here are some basic terms in the stock
[00:14:46] market that even children can understand. What is Nasdaq?
[00:14:50] Nasdaq is the leading
[00:14:52] technology companies in the world.
[00:14:56] Can you explain to me what a stock is?
[00:14:59] So this is one company's
[00:15:01] stock.
[00:15:03] And I'm selling it to you for 10 shekels. Now you
[00:15:07] don't like this taste? No. So you want to sell? Yes.
[00:15:11] But you also want to profit from it. Yes. So say how much
[00:15:14] do you want to sell it for? 20? For 20? So you sold it
[00:15:17] to someone for 20 shekels. But he also doesn't like the taste of it, so he wants to sell, but he also
[00:15:21] wants. He also wants to profit. So he sells it for 60 shekels
[00:15:25] to someone else, but that someone else doesn't want it for 60 shekels because it's
[00:15:29] very expensive for him and he doesn't have that money, so he lowers the
[00:15:32] price to 40 shekels, but he still doesn't
[00:15:35] want it, so he says, "Okay, it's not working for me."
[00:15:39] And then the value of the stock really
[00:15:43] went down. We don't want to buy
[00:15:46] a stock from one company. So we want
[00:15:49] a fund of many, many, many shares
[00:15:53] from the 500 largest companies in the United States. And that's
[00:15:57] the S&P 500. Yes.
[00:16:00] Yes. And one day these companies can be.
[00:16:03] And one day these can be companies. These
[00:16:09] companies for example, because every time 500 different
[00:16:13] companies. Right. Do you already know how much money has accumulated in your investment account? In my investment
[00:16:17] account I have 27 thousand. Wow, like to what
[00:16:20] amount would you want it to reach?
[00:16:23] It will reach millions in the end because I'm really in it for the long term. What's
[00:16:27] long term? At the age of, I don't know, 20 something, 30. So I have
[00:16:31] a few
[00:16:31] years.
[00:16:36] Why didn't he take it?
[00:16:41] The money issue, and suddenly money is no longer, it becomes what
[00:16:45] can make more money from it without doing anything and not just working
[00:16:49] and digging in the dirt. Yes, what is the goal?
[00:16:52] The goal is basically very simple: to be richer.
[00:16:55] Richer? Yes, richer than me, for example? Ah, yes, very
[00:16:59] cool. Very cool. Tamar and Hagai are not just
[00:17:03] anecdotes, the data also shows that the younger generation
[00:17:06] easily does what the generation before them did not dare
[00:17:09] to do. 44% of investors who manage their own
[00:17:13] investment portfolios are between 22 and 30 years old.
[00:17:17] In contrast, only 4% of those aged
[00:17:20] 50 and over manage their own investments. The average age of
[00:17:24] independent investors is 29. In contrast,
[00:17:27] the average age of investors who prefer someone else to manage their
[00:17:30] money is 34. The younger they
[00:17:33] are, the more they take their future into their
[00:17:35] own hands.
[00:17:38] When did you feel you had to get in? When I saw that friends were starting
[00:17:42] to invest and talking to their parents about investments. At first, I would
[00:17:45] buy fractional shares of some stock I thought could
[00:17:49] succeed, putting in a few hundred
[00:17:51] shekels. And then I moved to what everyone is talking
[00:17:55] about today, the S&P 500. This was a bit before everyone started.
[00:17:59] I feel now that there's a bit of inflation in the use of the word
[00:18:02] S&P 500, like if I haven't taken many taxis, but when I
[00:18:05] take a taxi, the taxi driver tells me.
[00:18:09] My grandmother tells me to read this book and invest
[00:18:12] in S&P. That same grandmother told my mother something else. My mother
[00:18:16] also upgraded. My mother at a certain
[00:18:20] stage, yes, entered the world of
[00:18:22] investments. Two computer screens
[00:18:25] and courses and stuff. How old
[00:18:28] is your mother? My mother is 72. It's a TikTok
[00:18:31] account, ah, and listen, she's a star, she doesn't know it yet, but
[00:18:35] yes, you can see she's influential, she's registered. working in these fields, I do feel
[00:18:39] that it has now become, like, we are already at the next stage where it has become a bit of
[00:18:42] a trend.
[00:18:49] I see that many more are entering the capital market and it also seems
[00:18:53] to me, when I look from the outside, it seems contagious. Like there's one person
[00:18:56] who's a zero beginner and he tells his friend, "You won't believe it, I bought
[00:19:00] Nvidia and Apple at 100%." He shows him and then the other one says,
[00:19:04] "Oh, if this idiot can do it, so can I."
[00:19:08] To what extent is there really something contagious here? So unequivocally, these
[00:19:10] phenomena are contagious and they also have
[00:19:13] a name in the world of behavioral economics, and that's
[00:19:17] herd behavior. And we really see that in the stock market we
[00:19:20] behave like a herd, and there are fashions that influence. We
[00:19:24] have this all the time now. That is, young people who announce one
[00:19:27] stock and everyone follows them. These
[00:19:31] phenomena of herd behavior are very, very, very dangerous because
[00:19:34] what they do is they distance
[00:19:38] the price in the stock market from the true value of the stock. Social
[00:19:41] networks greatly amplify this issue
[00:19:45] because it's very easy for me to spread
[00:19:48] some information or to spread some tendency of mine towards a stock. And what
[00:19:52] they also don't understand is that behind everyone who spreads information on social media
[00:19:56] about these stocks or assets, there is a person with a vested interest. Exactly.
[00:20:00] It could be another interest. It could be that he himself invested heavily in that stock from an early
[00:20:03] stage and he wants it to go up. Or exactly in his favor. Exactly, and they influence him.
[00:20:07] What will happen to my
[00:20:08] money?
[00:20:12] The internet is full of people who promise us riches
[00:20:15] and happiness, if only we buy the stock they recommend.
[00:20:18] Or, what's more common, if only we pay
[00:20:22] them thousands of shekels for a course where we'll learn the
[00:20:25] secret. How to buy and sell to make a quick
[00:20:29] buck. Most of those who fall for these offers
[00:20:32] will lose. Because the stock market revolution is
[00:20:36] indeed here, but it requires patience. Those who seek
[00:20:39] to get rich from short-term day trading will find that it's
[00:20:43] much harder than it seems.
[00:20:46] In Ashdod, I met one of the few who succeed.
[00:20:50] Yoni Levy. Hello. He turned day
[00:20:53] trading into a profession. I want to tell you that you are fulfilling my dream. He gave us
[00:20:57] a rare glimpse into how it really works. Whoa.
[00:21:01] 1 2 3 4 5 6 7 13 14 screens. Oh,
[00:21:04] and you also have the clock of this. Yes. Do you sit here all day? I sit
[00:21:08] here from morning until 5:30. Not
[00:21:11] getting up, not moving. Almost not getting up. Pee.
[00:21:15] Getting up, of course. Did it happen that you lost money in a pee break?
[00:21:18] And you said.
[00:21:23] Sell or buy? Buy, now buy.
[00:21:26] Put me in the area code of the monthly target?
[00:21:29] 100 thousand shekels. Profit, profit. You
[00:21:33] need to tell someone, what is your job? I tell him I'm a broker,
[00:21:37] because that's what people know, even though it's not true. What are you actually? I'm
[00:21:40] a trader, a stock market trader. What does that mean? It means that I
[00:21:44] deal with money that is only mine. They open almost unlimited
[00:21:47] credit lines for you. And you start
[00:21:51] trading. Like, if I take my money and put it in an index
[00:21:54] and forget about it, right, hoping it will give me 10% a year and say
[00:21:58] thank you. You want to make over 30%
[00:22:02] a year, you want to be better than the market, and you succeed?
[00:22:05] Yes. The orders you transmit, buy, sell, are
[00:22:09] in the range of daily tens of millions
[00:22:13] of shekels. 10 million shekels a day? Yes. And it doesn't scare you?
[00:22:16] No, I really love it. It's adrenaline.
[00:22:20] Crazy for me. Did it happen that in one day of
[00:22:23] trading you made a crazy profit?
[00:22:27] Yes, six figures and... Very
[00:22:30] nice numbers. Hundreds of thousands in a day? Yes.
[00:22:33] Were there days you lost huge sums of money?
[00:22:36] Yes. During Corona in March
[00:22:39] 2020, there was one day that was very unpleasant,
[00:22:42] you can't stop the water. How much did you lose there? 100 thousand
[00:22:46] shekels in a day? In a day.
[00:22:50] People are watching now, among others, teenagers, who are intrigued by this
[00:22:53] world of trading, of making money
[00:22:56] from money. What would you say to them? I would tell them
[00:23:00] unequivocally not to enter the field of day trading. I will not put my children
[00:23:03] into day trading. Why? Because the work is
[00:23:07] Sisyphean, exhausting, and you need to have a very, very
[00:23:10] special character. A day of crazy profit or a day of crazy loss
[00:23:14] can change a person's thinking and
[00:23:17] behavior, and you need to have character.
[00:23:24] About three or four years ago, some owner of some college
[00:23:27] that teaches people to do prop
[00:23:30] trading and then employs them invited me.
[00:23:33] And he told me that there are thousands of young guys
[00:23:37] who are discharged from the army and get into this every year. I don't know anyone
[00:23:40] who was in professional trading and went and opened a college
[00:23:43] to teach. Like, whoever makes money just continues to make money. Unequivocally,
[00:23:47] don't fall for the stories they tell you about easy money. There's no
[00:23:51] easy money in trading, there's no such thing. Over 95% of people
[00:23:55] will lose their money. There's no way to get rich quickly,
[00:23:58] not in trading. So what do you need to do for it to happen and not
[00:24:02] for me to lose my shirt? I think you need to go through the whole process. That is,
[00:24:06] get a degree in economics, a degree in business administration, understand the stock market
[00:24:09] in depth, get to know the institutional bodies, get to know the investment
[00:24:12] houses, the big banks. Like, you actually need to go
[00:24:16] and work in it. There are no shortcuts even there, there are no shortcuts.
[00:24:22] You're open now with big positions, like if something happens now, Trump
[00:24:25] says the wrong word, you could lose a lot of money. Yes, I feel very
[00:24:29] uncomfortable with
[00:24:29] that.
[00:24:34] Did anyone here invest in a stock and lose? I even know
[00:24:38] about one thing I invested in, something they told me was fine,
[00:24:41] I said, "Alright." How much did you lose? I lost
[00:24:45] 18,000. In a few days?
[00:24:49] A few days? How did it feel? It was
[00:24:53] very unsettling, because I'm used to logging in every day,
[00:24:56] sometimes even twice. And suddenly, at one moment,
[00:25:00] there was a certain number, and at another moment, I had a completely different number.
[00:25:04] I cried, yes, yes, it was really a loss. I mean, I said, "Oh
[00:25:08] my, what's the point of this now?" All that, what did I
[00:25:11] do with it? But I got over it. Liron, did you try to imagine
[00:25:15] how you would feel if the stock market fell by 20%? Yes, I suppose
[00:25:19] I'd sleep a bit less well, but I wouldn't not sleep
[00:25:22] at all.
[00:25:27] One of the things that allowed the revolution to happen is that since it started,
[00:25:30] the stock market has mainly gone up. And when it goes up, everyone is an investment
[00:25:33] guru. When the stock market goes down
[00:25:36] sharply, then you can find out who truly has enough
[00:25:39] risk tolerance to stay in for the long
[00:25:42] term. My friends and I in our WhatsApp group where we
[00:25:46] share emotions, ah.
[00:25:50] Every time the stock market starts to fall, but really, really fall, then
[00:25:54] someone asks, "Why is the stock market falling so much?" And then the
[00:25:57] answers start: "It's because of this and Trump and tariffs
[00:26:00] and that." And every time I have a feeling
[00:26:03] that it's just like astrology or reading in, I don't know, a coffee
[00:26:06] cup or something? Am I right? First
[00:26:09] of all, you are right, okay? There is
[00:26:13] in the end, even though we are talking about numbers and financial
[00:26:16] reports and a very, very logical world, in the end we
[00:26:19] see that in such situations what interests us is actually
[00:26:23] psychology. The best example of this is the Corona, this is
[00:26:26] the graph of the S&P 500 over 25 years. We would
[00:26:30] expect Corona, which is perceived as one of the biggest
[00:26:33] disasters in humanity in recent times, to appear here as something
[00:26:37] very, very dramatic, right? And in the end, what we see here is a small peak
[00:26:40] in the graph, let's not minimize it, this thing is a 30%
[00:26:44] drop in one month, it was terrible, and my mother also just retired
[00:26:48] here, she ate my head, it really was a panic
[00:26:51] effect, there was a herd effect and everyone sold,
[00:26:54] but what did we actually see? Within a few months
[00:26:58] the index went back up, and not only did it go
[00:27:02] back up. Within 18 months it doubled itself, at this
[00:27:05] point in time, we didn't see that, okay, we only saw
[00:27:09] this thing, now in your head, your imagination
[00:27:12] continues it here, you tell yourself, "No, it's going to be at 80%,
[00:27:16] why shouldn't I cut my losses here?" What's irrational about that? I mean, I don't have
[00:27:20] that, how do I fight it? I think
[00:27:23] that anyone who knew about the 2008 crisis could
[00:27:27] already know that at that moment things would look different,
[00:27:30] because banks also collapsed then. And there was a very, very
[00:27:34] great distrust in the government in very, very basic institutions, and exactly
[00:27:38] from there the market recovered and eventually reached where it is. So, in other words,
[00:27:42] this understanding of the long term and the perspective of looking
[00:27:45] at the graph like this, that's what should ultimately give you confidence,
[00:27:48] and the world and the stock market have survived wars,
[00:27:52] survived pandemics, survived terrible crises,
[00:27:56] but that point where you got out
[00:27:59] and lost all your money remains forever.
[00:28:03] So the most important things when entering the stock market are patience and the ability
[00:28:07] to absorb. What else? Suppose I want to enter the stock market? Give
[00:28:11] me the rules, the guide, what do I need to know? You want to enter the stock market? Now
[00:28:15] the question you need to ask yourself is when will I
[00:28:17] need the money? Because the stock market can crash. Right. If you need the
[00:28:21] money for the long term, a minimum of five years, you
[00:28:24] can start investing in the stock market. You essentially want
[00:28:27] to diversify your risk, not to invest in a single
[00:28:31] stock and not to put all your eggs in one basket, but to diversify into several
[00:28:34] types of stocks,
[00:28:37] countries. You essentially want to create a portfolio that is
[00:28:40] diverse and broad in terms of investment. I can enter with any
[00:28:44] amount. There are also investment platforms today that don't require
[00:28:47] a minimum, and you can start investing with even hundreds
[00:28:50] of shekels. I enter the stock market and I enter with
[00:28:54] 500 NIS fixed deposit every month. Describe to me what
[00:28:58] happens to the money? So we deposited 500 NIS a month, we are talking about
[00:29:02] a return of about 10% a year, which is about the S&P
[00:29:05] 500 index, the 500 largest companies in the United States. After one year,
[00:29:09] we have 6600 Shekels. 6,000 Shekels
[00:29:12] that we deposited, and an additional 600 Shekels that we earned interest on.
[00:29:16] After 10 years, I will have 95
[00:29:18] Shekels, after 20 years, I will already have
[00:29:22] 350, at which point most of the money
[00:29:25] in the fund will be profit, it's not deposits that I made. Right.
[00:29:29] Most of the money in the fund is not the principal, the amount I put in, but rather...
[00:29:32] my returns that have accumulated more returns, which is called compound interest,
[00:29:35] and after 35 years, I will already have
[00:29:39] 2.5 million Shekels. An amazing psychological
[00:29:42] event. All of this assumes that the returns and the market and everything
[00:29:46] and everything
[00:29:47] is good.
[00:29:51] To make you and me envious, we found someone who understood
[00:29:54] the trick a long time ago. He started investing at a young age, planned well,
[00:29:58] diversified his investments, and retired early. So how old are you today?
[00:30:07] You retired. I retired completely.
[00:30:10] You worked. I worked for several years.
[00:30:13] 14 years in the job market in various places. That's
[00:30:17] less than me. Okay, how do you do it?
[00:30:20] I want to know too, teach me. So I think I'm a good example,
[00:30:24] maybe you can hear it in the accent that people
[00:30:27] who immigrated from the Soviet Union, my parents
[00:30:30] were very dear. But not very dear in money. It was clear
[00:30:34] to me that from the moment I started earning a salary, I would start investing
[00:30:38] it. I would first save it, and at the first opportunity
[00:30:41] I would invest. I started working in
[00:30:44] 2010. I saved 5,000 every month. I was
[00:30:48] earning 11, and then with those two years of salaries, which was
[00:30:52] about 120, I went and bought an apartment for half a million
[00:30:55] in Lod, and that was my foothold in investments. I started investing
[00:30:59] in the stock market in a relatively simple and diversified way.
[00:31:02] In ETFs. But at this stage, you're saving 50% of your income,
[00:31:06] something like that? Uh, and even more. So yes,
[00:31:09] very, very aggressive saving, and a lack of improvement in standard of
[00:31:13] living. You're always striving to increase your income, of course, but all
[00:31:17] that extra money, you put it into your investment portfolio, until in
[00:31:20] 2019, I started to understand that you can now, as they say,
[00:31:24] buy your freedom. In the end, it's a product. Just like you go and buy
[00:31:27] an apartment, you buy a car, you can
[00:31:30] buy freedom. There's an amount that you can put on it. You take your
[00:31:34] standard of living, meaning how much you spend, how much you spend per month, multiply
[00:31:38] it by 300, and that's roughly the amount you need
[00:31:41] to reach, and then you're free. So I did my basic calculation.
[00:31:44] So we spent around 20,000 a month, multiplied
[00:31:48] by 3, 6 million. 6 million. I saw, okay,
[00:31:52] it's not impossible. I was already at that point at around 4 million,
[00:31:55] need another two million. And I saw that I wasn't very far.
[00:31:59] And this realization that hit me that now I'm going to push harder
[00:32:03] and now I'm out, it actually changed my life.
[00:32:06] And still, for that, you need very aggressive saving of
[00:32:09] 10, 15 shekels a month. What do you feel you gave
[00:32:13] up? You need to make sacrifices. I would probably travel abroad
[00:32:16] more. Imagine a family driving
[00:32:19] a Hyundai
[00:32:21] i10. It's small, that car is small, it's small. The baby seat doesn't
[00:32:23] fit. To replace a couch, you stretch
[00:32:27] things out longer. Okay. It happens
[00:32:31] that the stock market falls, and when it falls, sometimes it's aggressive, 10%
[00:32:34] 20%. We've even seen 30% in recent years in a month. What then?
[00:32:38] So that's one of the main psychological difficulties in this whole
[00:32:42] early retirement struggle right now. How
[00:32:45] did I actually do it to make it less difficult? I divided my portfolio, as
[00:32:48] they say, into layers of risk,
[00:32:52] okay? I said that now in the first few years, I created
[00:32:56] a very, very solid portfolio. Now, simultaneously, the other portfolios
[00:32:59] I hold are 100% stocks, and I know that by the time I get
[00:33:03] to them, no matter how many crises shake them,
[00:33:06] statistically, they will probably really grow. So if you're in your early
[00:33:10] 40s, this is money for your 60s, for your 60s. I have to know
[00:33:14] the millions that...
[00:33:28] Who here feels they love their bank? To hate it is a difficult emotion.
[00:33:32] They just take your money. There's no reason. It can
[00:33:35] be zero. Not three shekels, not nine shekels,
[00:33:38] zero shekels for a checking account. If it doesn't go
[00:33:42] my way, it's the highway. Okay.
[00:36:00] and says, "It suits me to work for 20 years and then retire." What should they
[00:36:04] do? There are three things. Go ahead. The first is to take a risk
[00:36:07] and as early as possible. That's the first thing, to take a risk and die. That's to invest and take
[00:36:11] a real risk. And take a risk.
[00:36:14] Two. That's to say how much I really need. That's the absolute basic
[00:36:17] in my opinion. I save every shekel beyond that. You put
[00:36:21] it into the investment portfolio. Okay, so that's two. That's two. What's three? Three is to know what
[00:36:25] you're going to do the day after. And I think many people don't
[00:36:29] leave because they're afraid. They're simply afraid of this encounter
[00:38:19] question is valid for you, stay
[00:38:21] standing. Who, in addition to a bank account,
[00:38:25] has a savings plan, not including savings for every child?
[00:38:28] For whom is this saving in an investment channel that generates returns? What do you have?
[00:38:32] A deposit? Yes, so sit down. Whose money
[00:38:36] is spread across several investment channels? Also sit down. What is important for me
[00:38:40] is for you to understand that there is no reason why
[00:38:44] all of you shouldn't have a lot of money when you are older. A small
[00:38:47] thing you do at age 18, 19, 20 changes
[00:38:51] your life completely at age 30, 40,
[00:38:54] 50. Did you come from a wealthy family? No.