Palm Beach Confidential is a private newsletter subscription program with an annual renewal fee of $3500. Teeka Tiwari is running the ship, a retired hedge fund manager that is giving people within this group suggestions on which crypto one should invest in.
He’s a guy that made a small fortune in 1998 during the Asian crisis but lost it all & had to file bankruptcy, on record he has said “he got too greedy & held on too long”
But isn’t it that to challenge with investments? when do you harvest your profits?
2 years after losing everything, he rebuilt himself from the markets and went on to launch a successful hedge fund.
He is now applying decades worth of experience in the cryptocurrency space.
The question is, are people really making money in this group by investing in cryptocurrencies?
what did I learn from Palm Beach Confidential so far?
what is the best way to make money with cryptos?
so I’ve been part of this group some time & I have to tell you its not just another bitcoin course about how the blockchain technology works or why cryptocurrencies are disrupting the world.
Teeka gives you real world strategies on crypto investing.
He doesn’t tell you how much to invest.
He simply speculates the best alt coins to invest in.
Alt coins are new cryptos that come out with very cheap prices but has the potential to grow massively.
So the idea is to buy these coins when it first comes into the market at dirt cheap prices, wait for it to rise hundreds of percent in value & then sell it. Sometimes Teeka has recommended coins that went up 1000% to 2000%.
Which means if you put down $50, you would end up with $1000
Now there was a particular coin called the NEO which Teeka did recommend, unfortunately, I wasn’t in the group back then that famously went up by 30,000%
One lady put in $50 and it turned into $17,000
She was sad that she only put in $50
Everyone in the group says most of these coins though don’t ever go up crazy like that.
you also have to factor in money you will lose with other coin investments, you’d figure?
“Asymmetric Risk” Investing Technique
This is the method Teeka teaches inside Palm Beach Confidential.
This is when you invest smallllll amount of $$$ into an idea that has the potential to go big in the future.
Well if the idea flops then your loss is low but if it goes big, you could have big earnings.
He’s seen his subscribers who invest $400 taken out profits three times the original investment
The successful subscribers have “harvested” profits anywhere from 500% to 1000% generally.
Teeka likes to say that this is how they manage bubbles at Palm Beach Confidential, they profit from them.
Similar to the dotcom bubble.
This is what guys like Teeka do, opportunistically leveraging from either a crisis or a sudden boom in popularity of some commodity.
He calls it harvesting from a bubble.
The question is, are people smart enough to harvest early enough?
Because we all know what happens to bubbles eventually.
Should I be investing in Bitcoin or other Cryptocurrencies?
I’ve invested $6000 in Bitcoin and some other coins.
Unfortunately back when Bitcoin was at $17K and now it is at $9K
But I only invested what I could afford to lose.
I mean it sucks but I just forgot about it.
I think the problem is most people are looking into investing in cryptocurrencies as a way to make real money from it or even earn a living.
Yes there are short-term trades that people are getting into to make some money.
But in my opinion here is the real problem with that kind of thinking.
Investing in cryptocurrency as a means to earn income is not a long-term strategy.
Because you’re attempting to make money based on speculation.
If you look at all the successful people in the world, they’re where they’re at today because they developed high-income skills.
Its not about the stuff & the money around that successful entrepreneur.
The real value is in whom that person became because of his journey of entrepreneurship.
You become a person of real skills.
Their income is a direct reflection of how much value they’re able to bring to the marketplace.
Most people fail in business or investing because they jump into it thinking that’s the vehicle that’s gonna lead them to freedom but they’re still missing the first part of the Wealth Triangle, which is high-income skills.
Seek to develop high-income skills because that’s what leads to financial confidence.
Then you can always count on you to make yourself money.
It erases the doubt & the fears.
Because you’re not worried about if the cryptocurrency bubble is going to burst tomorrow.
Or if the new business venture like real estate you go into begins failing because the economy tanks.
Seek to be have Financial Confidence, Not Financial Freedom
My mentor Dan Lok from above video says the concept of financial freedom is a myth.
Since in business, there’s highs & lulls. Up & down. Even in the crypto world.
Bitcoin was surging like crazy in November & December of 2017, but now 4 months later it halved in value & its not as much of a hot topic on social media.
In a world where things are constantly changing around you.
What is the one thing that can give you stability?
Its developing your high-income skills.
You cannot be taxed.
& No one can take your skills away from you.
As there are up & down in the economy & business, your high-income skills can independently grow & develop each & every year.
guys really pay attention to this concept, I know it to be true down to my bones because I have lived it.
& The Truth Will Set You Free
Mose people get fucked in business because they fail to first develop high-income skills
Taking the advice from a hedge fund guy on which new cryptocurrencies to invest is not developing any of your own skills that would be of any use to the marketplace in the future.
Investing in Cryptocurrency is something I recommend that you do on the side as a hobby at best.
Only investing in amounts you are willing to lose like gambling.
I would not look at it as your main source of income.
Because you’re training your mind to be reliant on external circumstances & people.
Also it causes the mind to get addicted to get rich fast type of thinking.
Yes there is a cryptocurrency bubble happening but will it really last for 10, 20, 30 years?
When you look back into the history books, it doesn’t take long to see that those that relied on fads or bubbles, don’t stay wealthy for long.
Our mind is a funny thing. When things are going good (great economy), we think that its always going to be good this way.
Then once the bubble comes crashing down because much of that value was built on pure speculation & nothing tangible.
Many people get hurt.
But those that survive these bubbles & continue to live rich & successful lives are those that have high-income skills.
That no matter what happens to the economy, because they themselves are a person of value, they will always be paid handsomely for the tremendous value they can bring to the marketplace.
Financial confidence is knowing that even if everything were to be taken from you, all your finances & assets, you can still rise up & get back up to where you were at before.
Seeking financial freedom is overrated.
Seeking financial confidence is where it’s at.
My Story: How I developed High-Income Skills, Became Financially Confident & Changed as a Person on a Deep Level
I had always wanted to be successful from a young age. Pretty competitive spirit always wanted to outdo my peers or impress people. Although not to the psychopathic levels of Michael Jordan, I’d say I always enjoyed grinding my way to the top from being at a deficit.
The earliest I can remember, was when I first came to the United States, from Japan at age 9 (4th grade). I couldn’t speak a lick of English but with 2 years I was able to speak & I would make it onto the Honor Roll which is ranking kids with certain grade point average. By my 4th & 5th years, I was on the 4.0 GPA rankings, which there were only like 8 students on there out of couple hundred.
In high school, I remember playing World of Warcraft, & I strived to be the best player there was & I eventually became pretty widely known in the community, had the best gear & everything. I mean its obvious but I got there because of practice, continually putting in time & I developed my skills. To the point where I reached the pinnacle of that game due to my skills.
I was that way when I played soccer as well through middle school & high school. It was becoming obsessed with it, practicing that craft over & over again, my skill levels went up and then eventually became one of the best players on the top select team in Ohio.
I was able to reach success in these different pursuits because I was able to develop skills by practicing.
But somehow in my early adulthood, when I was stuck at a job that I hated only making $35K per year, I thought it was going to be some sort of personal development method or some business opportunity that I needed to find to become successful.
I went through a phase of devouring personal development material.
As well as trying out many various business opportunities like network marketing, dropshipping, selling on ebay, etc
Personal development & mindset helps to a degree.
But there’s a lot of them that have been doing motivational stuff for years but their bank account is still zero.
“Mindset can only get you so far, after that you need actual skills, what value can you bring to the marketplace” -Dan Lok
After failing over & over again with business opportunities.
In 2014, I go into a coaching program and got a mentor for the first time in my life.
This mentor changed my life because he taught me several high-income skills.
- SEO (Highly sought after skill of ranking websites in Google)
- How to generate & track your lead generation
- How to close deals with other business owners, how to prospect & sell
I didn’t know it at the time.
I thought this was just another business opportunity.
But this time the big difference was, that I was learning some powerful high-income skills that can deliver tremendous value to the marketplace today.
Every local business out there needs a lead generation specialist.
I now had a skill set that all small businesses needed, a skill that makes them more money.
When I started making $10K per month using these new skills, something did change within me just like Dan Lok says. Its hard to explain.
Something deep was shifting within me, suddenly I was growing financially confident.
That my goals to reach massive success & have that awesome lifestyle everyone dreamed about didn’t seem so far-fetched at all.
The wealth triangle explains how to get rich & stay rich, the three main pieces are
- High-Income Skills
- Scalable Business
Without knowing it, this coaching program was teaching me the number 1 & 2, simulatneously.
Investing is not till after you have so much money that you don’t know what to do with it.
Then you can get into long-term investment, not for income but simply to grow your networth.
I feel most people are getting into bitcoin & cryptocurrency investment for the wrong reasons.
If you rely on the crypto-bubble to set you free, you’re most likely in for a very precarious roller coaster ride.
If you want true financial independence for the long term, work on #1 of the wealth triangle first.
Developing your own skills that no one can take from you.
The huge demand for Lead Generation Skill is here to stay.
The internet’s not going anywhere soon & neither are local businesses.
Go here for the program that taught me the exact skills I’m using to make $50k per month online.
Talk soon, lppei