Financial Intelligence
How can you increase your financial intelligence? In this episode of Incorporating Superpowers, host Justin Recla is with guest Henry, the author of FQ: Financial Intelligence and the CEO of Daas Knowledge. He is a business coach and works with business owners and entrepreneurs who want to increase their financial intelligence. He takes a no BS approach to work with people and brings a refreshing Earth; call it like it is the approach to the investing world. Tune in to gain financial intelligence for up-scaling your business.Â
Justin Recla:
Welcome back to Incorporating Superpowers. Today, we are going to be talking about financial intelligence, and my guest today just happens to have written a book on financial intelligence. My guest today is Henry Daas. He is a business coach, finance coach, and he’s out there shaking some shit up, folks, let me tell you. Because he made a pivot, just like a lot of us did during COVID. I mean, we made a pivot here in our own organization, our own business, but he made a pivot in that industry. Well, a lot of you are aware of this. It’s getting shaken up right now. Henry, welcome to the show.
Henry Daas:
Thanks for having me, Justin. Great to be here.
Justin Recla:
This is good. We were talking a little bit before the break, just about where the markets are at right now and people are starting to get scared and so forth. And you and I both know that the markets have been up and down, up and down ever since they were created, right?
But I think there’s a lot of new information out there. 20 years ago, 30 years ago, we didn’t have Bitcoin. We didn’t have all these new options that were seen in the investment field. Talk to me about what you do and what you’re seeing in that sector.
Henry Daas:
What’s interesting is that I write a couple newsletters. I write a long-form newsletter twice a month. I call it the daasFQ Update. And then I started something a couple of months ago that’s weekly, so I go through a number of articles. I call it the Daas Five. I found five articles that I think all the FQers, which is what I call my flock, my following, my tribe, things that I think that they should know about, usually financial related.
But in the early part of the pandemic, I wrote in my long-form newsletter about how, at that time, there were close to a million new trading accounts that were opened. I don’t even know what the number is now since the pandemic. There’s been a flood, let’s just call them what they are: newbies. Rookie traders. They’re coming in, they’re seeing these crypto gazillionaires and NFT royalty or whatever it is, and they’re getting FOMO. All right.
Combine that with the fact that you’re sort of housebound. I was hunkered down for months. I wouldn’t even go to Costco. I sent my kids to do all of that, to do all the shopping.
What’s interesting is that they haven’t had that black swan event that all traders or all investors have had. Now, I’ve had four or five of them, I guess, going back to the ’87 crash and the da bomb and the Great Recession. Stop me. Feel free to stop me at any time.
Justin Recla:
Yet you’re still here.
Henry Daas:
I’m still here. I bought my first stock when I was 17-years-old. It was the 1970s. It was a Chrysler. I was in high school. I took my money working in a Perkins Pancake House and I bought Chrysler, and it went up and I made a profit. So I’ve been doing this a long, long time and I’ve seen that, but the rest of the world hasn’t.
Here we are in early February and the market’s been hiccuping a little bit, but this is nothing. This is really normal activity. The markets think the S&P was up 28%. That’s a huge, huge number for 2021, especially considering all the people that were going on. You got to expect people to make some profit. I took profits on January 3rd. I waited for the new tax year. I was leaving on a flight to go to Nairobi. My wife and I went on a safari, a photo safari, for the month of January. And I said, “I’m going to make some money off the table.” I’m going to make some profit. I’m going to de-risk a little, anticipating that there was going to be a little bit of a hiccup because the market was overbought.
And sure enough, there was some craziness. Now, I didn’t anticipate a catastrophic drop in Facebook. I mean, I’m holding Facebook, and Facebook’s a money machine. That was a little humbling. I’ve seen some big drops; that was a big drop. 26% in one day was like, “Wait, am I reading this right?” I mean, that’ll wake you up in a cold sweat. Same thing with Bitcoin. Bitcoin was in the $50,000 plus range. And I didn’t really look at anything when I was away. I’m on holiday, so I’m going to ignore all that. I took care of business, I was in a good spot. And I come back, now it’s in the 30s. That’s a huge drop. You haven’t seen that sort of stuff before. It will wake you up in the middle of the night.
Justin Recla:
That it will. Henry, I want to pause right here.
Henry Daas:
Sure.
Justin Recla:
Because I want to dive down this rabbit hole even deeper on the back end because I think you have some valuable information for our listeners to sort through on this new space of investing. But before we go on break, where can people find more information about you?
Henry Daas:
You can go to my business site Daas Knowledge. My personal site is henrydaas.com. That has all my stuff, including an assortment of some of the 20,000 pictures that we took in Kenya. It’s a little bit of all that stuff. So either one of those sites, you’ll find out all about me.
Justin Recla:
Fantastic. Folks, go check out Henry’s site. Go take a look at what he’s doing in the financial sector. I think you’re really, really going to like what he’s doing. Stay with us, we’ll be right back.
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