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April 12, 2020 by Wall Street Playboys 224 Comments

CLOSED Q&A

Way more than Usual so have to close it up will do another later on thanks!

Q&A CLOSED

Filed Under: Personal Finance

Comments

  1. Avatar- says

    April 12, 2020 at 2:34 pm

    What are all the stoicism beliefs you follow? (one is worry about what you can control). I’d like to be as close to tranquil as possible.

    Reply
    • Wall Street PlayboysWall Street Playboys says

      April 12, 2020 at 2:35 pm

      That is pretty much it honestly

      Reply
  2. AvatarKEG says

    April 12, 2020 at 2:37 pm

    WSPs – As mentioned previously, recently laid off from IB (after 4 years as an analyst). Looking for another IB gig or Corp Dev, but not sure if it’s right for me given underperformance as an analyst.

    Do I cut my losses and try to move into tech sales or stick with IB (given my poor track record at two firms, not sure if Associate+ will get better)? Would have to start fresh in a tech sales career in late 20s (and not able to leverage 4 years of IB experience)

    Performance review: poorer attention to detail, lower quality work product relative to peers, and general disinterest (based on creating endless pitch material and small excel modeling errors)

    Open to any recommendations/advice.

    Thanks

    Reply
    • Wall Street PlayboysWall Street Playboys says

      April 12, 2020 at 2:40 pm

      That is your call, corp dev may be better. Less strict same skill set more hours to scale a side business

      If it wasn’t politics (and your skills were really actually bad) then don’t go back into IB

      Reply
      • AvatarKEG says

        April 13, 2020 at 2:35 pm

        Just saw the tweet “if you can’t figure out how to be a high quality worker in a career: politics + high performance

        Chances of failure in online business is probably 2-300% higher”

        Don’t want to beat a dead horse, but should I try to improve my skills – attention to detail issues and modeling – or just cut the cord with IB?
        Already have a decent number of data points against continuing on, but willing to give it another shot (opportunity cost of leaving IB track is significant).

      • Wall Street PlayboysWall Street Playboys says

        April 14, 2020 at 12:51 am

        Then give it another shot, based on your questions seems like you want one more go at it.

  3. AvatarWSPJunior says

    April 12, 2020 at 3:01 pm

    Can you give some advice to current college students who have lost their internships due to COVID-19 on how to best utilize this summer?

    I lost my business development internship which was crucial for me entering software sales upon graduation. Been reaching out to VPs and senior AEs for advice/pitching them on an unpaid internship for summer (no other choice as virtual internships for sales is difficult for employers imo). Think that’s the right move given the current business environment?

    Thanks

    Reply
    • Wall Street PlayboysWall Street Playboys says

      April 12, 2020 at 3:07 pm

      Yeah that is tough, you should actually reach out and ask for an unpaid internship as a backup since you already got an offer.

      We usually NEVER recommend this, but it could be worth a shot. Experience is more important if everyone is out of work

      Reply
    • Avataranonymous0 says

      April 12, 2020 at 5:03 pm

      A long time ago, someone made a good comment on here that I didn’t really understand at the time but now do.

      Do exactly what your internship would’ve had you do anyway: prospect

      Find a simple tech product that gives affiliate commission, understand the target market, build an excel sheet of companies, find contacts

      You’ve got a lot of things working against you (no established sales strategy, no crm, no contact database etc) but no doubt you’ll impress interviewers for entry sales roles

      Reply
      • Wall Street PlayboysWall Street Playboys says

        April 12, 2020 at 5:35 pm

        Great advice

      • AvatarAnonymousModerate says

        April 14, 2020 at 7:45 am

        First time participating in one of these Q and As. Yes, I’m aware the time is over.

        This is why I like to go back to blog posts and books I’ve seen over the years that didn’t make sense. Some things make more sense when you get more life and business experience.

        Junior’s only problem is probably not taking extreme action since there’s so much information out there. In real life I’d suggest finding an older mentor, watch what he does, and try to keep up with him. Preferably in real life, preferably 5-10 years older. Even in this room I’m a small fish. Biggest mistake I’ve made in my career so far is not getting into the online sector sooner. Wisest decision, and other people will echo this, is not getting more advanced degrees. Lol at one of the comments here that getting an advanced degree will make you a weirdo. Truer words have never been spoken.

  4. AvatarDallas says

    April 12, 2020 at 3:03 pm

    The first bitcoin fund has been listed on Toronto Stock Exchange! QBTC https://web.tmxmoney.com/quote.php?qm_symbol=QBTC.U&locale=en

    Gemini is the custodian. Thoughts on this? Greater exposure to bitcoin to the general public, also we can now be investing in bitcoin as a stock, within our tax free savings accounts. No more taxable capital gains, correct?

    Reply
    • Wall Street PlayboysWall Street Playboys says

      April 12, 2020 at 3:05 pm

      Not your keys not your coins.

      Reply
      • AvatarAlex says

        April 12, 2020 at 3:58 pm

        In Canada we have something called a TFSA (Tax Free Savings Account) There’s a limit of 6k or so per year (accumulates if not all used) in which you don’t pay capital gains tax.

        I agree with holding your own coins, and yet with the potential upside of BTC (over the stocks that you would otherwise hold in the account) the lack of capital gains tax is tempting. Thoughts?

      • Wall Street PlayboysWall Street Playboys says

        April 12, 2020 at 4:48 pm

        That’s your call we don’t know all the tax rules. That said we’d still just prefer to own the keys

  5. AvatarCryptic says

    April 12, 2020 at 3:10 pm

    Trump at -400 to win Texas (via electoral votes).

    Texas hasn’t voted blue since the 80s.

    Free money?

    Reply
    • Wall Street PlayboysWall Street Playboys says

      April 12, 2020 at 3:13 pm

      Haven’t looked on state by state but if it simply means he wins, then yes looks good

      Reply
  6. AvatarRandom Data Scientist says

    April 12, 2020 at 3:15 pm

    So I’m 31, getting deployed thanks to COVID 19. Have ~$20k or so, best use for it? Dump it all in bitcoin (Sounds reckless to me) ?
    Data Scientist so not too worried about employment when I get back.
    And a good idea to use VA loans to buy some distressed properties?

    Reply
    • Wall Street PlayboysWall Street Playboys says

      April 12, 2020 at 3:17 pm

      Answered on this post, nothing just start a second stream of income
      Do not know how VA loans work (never used them) our path was 1) banking, 2) online sales, 3) use online sales to buy RE

      Reply
  7. AvatarJack says

    April 12, 2020 at 3:19 pm

    What are your thoughts on Zcash development in 2020? Is it matching up to your expectations?

    Reply
    • Wall Street PlayboysWall Street Playboys says

      April 12, 2020 at 3:23 pm

      Broadly the space is growing a bit slower than expected across the board. The good news is scalability has finally improved which is great for the future in general.

      So for now behind but that’s the name of the game

      Reply
  8. AvatarPrince of points says

    April 12, 2020 at 3:23 pm

    Still working W2 ~$150k. Most of my wealth has come from real estate (flips and rentals).
    Rentals: 20 doors, ~$40k net annual cash flow right now.
    Flips: made $120k in 2019, should make $400k-$550k this year.

    Was planning on leaving my career to focus on RE full time by end of summer. Critical to offset the capital gains by using my built up depreciation plus buying a commercial property ($1.5-2MM) in mid summer for the rest of the needed depreciation.

    Flips haven’t been affected (yet). My target customers are all first time millennial home buyers and I think right now they are trying to get the fuck out of their apartments! White collar ones haven’t lost their jobs (yet).

    Hopefully I could benefit from commercial RE crash by buying around that time too. Must buy by end of year at the latest.

    By doing all this I would still end the year with a few years of cash (have also been buying gold and crypto lately per your recs.)

    Bottom line: I’m struggling with the idea of quitting my job in the middle of a possible depression. Should I suck it up or re-evaluate?

    Reply
    • Wall Street PlayboysWall Street Playboys says

      April 12, 2020 at 3:36 pm

      The more painful answer is usually the right one, so we know the answer, suck it up. When you’re making money no reason to give it up

      Reply
      • AvatarPrince of points says

        April 12, 2020 at 4:42 pm

        Sorry, I guess my question wasn’t clear. I need to either:
        A. Quit at summers end. Focus on real estate full time And scale. Save ~$250k in taxes. Will have enough cash flow to survive from rentals and 3 years cash/crypto/gold savings.

        Or
        B. Keep working making $150k but have to pay $250k taxes for 2020.

      • Wall Street PlayboysWall Street Playboys says

        April 12, 2020 at 4:46 pm

        Not sure why you would have to pay taxes by keeping a job? Doesn’t seem to add up?

        If you are sure that you can get another job (or go back) after this tax year then do option A

      • AvatarPrince of points says

        April 12, 2020 at 4:52 pm

        Scenario A I can use real estate professional status to offset cap gains (and w2 of 3/4 of year) with rental depreciation. Just need to prove I worked more in real estate than W2.

        Thanks!

      • Wall Street PlayboysWall Street Playboys says

        April 12, 2020 at 4:57 pm

        Hmm would look into that pretty sure you can claim both? Definitely reach out to a RE focused tax person

        Esp if its under a company versus your name

  9. AvatarDerek says

    April 12, 2020 at 3:23 pm

    Q: “forever portfolio”/asset allocation for $5-10m/40+ years old?

    Reply
    • Wall Street PlayboysWall Street Playboys says

      April 12, 2020 at 3:40 pm

      Forever portfolio is 25% stocks, 25% bonds/cash, 25% gold/crypto and 25% international assets. Rebalance every 2-4 years so you catch full cycles

      Reply
  10. AvatarAnonymous says

    April 12, 2020 at 3:27 pm

    With the current circumstances do you think selling premium clothing to rich people is or will be profitable? or should i focus on other niche?

    Reply
    • Wall Street PlayboysWall Street Playboys says

      April 12, 2020 at 3:35 pm

      Depends on the niche, rich people will always be around

      If you can market it as new somehow you have a shot, but that industry is all about ego/insecurities so have to be extremely careful about positioning the product

      Reply
  11. AvatarTugboat says

    April 12, 2020 at 3:28 pm

    25x expenses still a viable “rule”
    Have more but feeling nervous

    Reply
    • Wall Street PlayboysWall Street Playboys says

      April 12, 2020 at 3:38 pm

      Still works but we’ve always recommended having a back up way to make small money if needed. Even if it only pays food/living expenses. Better for your mental health and allows you a worst case scenario to plan for

      Reply
  12. AvatarZ says

    April 12, 2020 at 3:32 pm

    Hi WSPs, really appreciate your work. Thanks for all your help!

    For people that still have 401k even if they are not adding more when the market is overvalued, should they let their 401k have the possibility of dropping 50% in a bear market (and needing 100% return to be even over several years)? Or re-balance stocks into bonds or defensive stocks for wealth preservation when market goes down 10-15% and buy back in later when market is less volatile and up again (this is what financial advisor recommended)? Just wondering your take on this.

    Reply
    • Wall Street PlayboysWall Street Playboys says

      April 12, 2020 at 3:39 pm

      You’re not going to like this but we don’t include 401K in net worth. You should basically just get the company match or get the amount that lowers your tax bracket.

      Stick with mix dollar cost averaging into S&P, reits etc. You should focus all your time thinking about income streams, things like this shouldn’t even be on your list of questions

      Reply
      • AvatarAlex says

        April 12, 2020 at 6:45 pm

        I feel what you’re saying on that, since you can’t touch that money til 59.5.

  13. Avatarp says

    April 12, 2020 at 4:22 pm

    What cities do y’all recommend living in over the coming few years? Put differently, do y’all recommend sticking around the NY area over the next two to three years?

    Currently, 26 yo software engineer in NYC with a few years of experience. The past month has made san francisco look more appealing: center of tech scene, better management of virus, more health focus. However, it also seems like a good opportunity to buy cheaper NY real estate.

    Reply
    • Wall Street PlayboysWall Street Playboys says

      April 12, 2020 at 4:49 pm

      For career? Just follow the money

      Once you’re up and running with an online biz? then go to a tax free state

      Trying to predict an exact city isn’t a good use of time

      Reply
  14. AvatarOverdeliver says

    April 12, 2020 at 4:31 pm

    Been following efficiency but all my online ventures have failed so far.

    In January I decided to focus on freelance copywriting for a year just to really get my skills up before jumping back into online biz.

    But this month I had a new product idea where I *think* I could dominate.

    Do I try to “juggle” both (plus career)? Or stick with copywriting for now and come back to the idea once other people are telling me I’m good/great at copywriting?

    Reply
    • Wall Street PlayboysWall Street Playboys says

      April 12, 2020 at 4:50 pm

      Juggle both for sure, unless you really didn’t learn much the whole time. If so, then you should learn copywriting skills until you’re comfortable with your selling abilities

      Reply
  15. AvatarRenter Guy says

    April 12, 2020 at 4:36 pm

    Would you suggest ramping on the ads in 2H? At least for white had lead gen with Facebook.

    Reply
    • Wall Street PlayboysWall Street Playboys says

      April 12, 2020 at 4:47 pm

      Yes would ramp up as soon as economy opens up maybe a week earlier to tweak it

      Reply
  16. AvatarKapil says

    April 12, 2020 at 4:48 pm

    Been battling an injury for a year or so. Sciatica on one side. Nothing shows up on X-ray or MRI structurally for hips or lower back but mobility and strength limited on one side and pain flares when lifting or running. Any advice for these types of injuries?

    Reply
    • Wall Street PlayboysWall Street Playboys says

      April 12, 2020 at 4:51 pm

      Do not know this one, would see a private doctor who specializes in that particular injury

      Reply
    • AvatarTax Man says

      April 12, 2020 at 9:50 pm

      Just want to make a recommendation, would look into a pressure massager. This is not from personal experience but I have been writing copy for my friends e-commerce store who sells these things. From the research I’ve done they apparently work great! They are a few hundred bucks and can actually massage deeper into your muscles than human hands. I’m sure using one everyday would at least bring some pain relief, although doubt it would completely solve a larger problem

      Reply
      • AvatarTax Man says

        April 12, 2020 at 9:52 pm

        Also just want to clarify, I am giving this recommendation specifically for sciatica, since I have written many blog posts on how daily percussion massager use can help with sciatic nerve pain.

        Also my apologies I mean a percussion massager, not pressure as I said In the above comment

    • AvatarAC says

      April 13, 2020 at 6:44 am

      I battled a similar one, I don’t know if it will help but here it goes:

      I did electromyography on legs to find out if a nerve was pinched and how much.

      Highly skillful orthopedic told me to do physiotherapy.

      Highly skillful physiotherapist (in a sports team) helped me unblock a bunch of stuff through various techniques (pressure, acupuncture and more) + daily exercises to increase core strength.

      Now much better but still needs work.

      I don’t know if it will help, good luck

      Reply
  17. AvatarAnonymous says

    April 12, 2020 at 4:54 pm

    What are your thoughts about buying an existing website, such as on on Exchange Marketplace?

    Reply
    • Wall Street PlayboysWall Street Playboys says

      April 12, 2020 at 5:37 pm

      It works we’ve done it, covered on here in past. Empire flippers, flippa etc. Just need to be sure you know what you’re doing (don’t buy blind)

      Reply
      • AvatarAnonymous says

        April 12, 2020 at 6:57 pm

        Searched for it in the blog. Couldn’t find it. Other than typical due diligence, any recommendations on how to not buy blind?

      • Wall Street PlayboysWall Street Playboys says

        April 12, 2020 at 7:35 pm

        Again answered many times my man.

        If you have never succeeded you can’t purchase blindly. Why? no skills.

        So you have to be successful then you can identify poorly run assets.

  18. AvatarAnonymous says

    April 12, 2020 at 4:55 pm

    Baby Boomers retiring and selling small B2B businesses without an online presence – Is this an opportunity worth exploring?

    Reply
    • Wall Street PlayboysWall Street Playboys says

      April 12, 2020 at 5:36 pm

      Maybe now that they have been forced to get updated on tech

      Reply
  19. AvatarTom says

    April 12, 2020 at 4:55 pm

    I am based in Europe, what different consequences will the crisis have, compared to the US ?
    Is the portfolio: 1) Crypto 2) Gold 3) Cash also the best one to adopt ?

    What are your forecasts for the gambling market ? Especially for 100% online operators.

    Reply
    • Wall Street PlayboysWall Street Playboys says

      April 12, 2020 at 4:57 pm

      1) we don’t know as we don’t live there so would be useless. If you want an opinion no real change from USA. Unemployment hike more tech being used. Would remain cash/gold/crypto and look for cheap real estate in 3-6 months (again don’t know foreclosure laws tehre)
      2) Gambling should be fine, much more competition though as algos take over the spreads

      Reply
  20. AvatarfukA925 says

    April 12, 2020 at 5:25 pm

    what are your top 3 books for foundational knowledge on skincare/collagen? You’ve listed a few for copywriting.. want to know the same for skincare.. (Taking preventative Measures for myself)

    Reply
    • Wall Street PlayboysWall Street Playboys says

      April 12, 2020 at 5:35 pm

      Do not know of any to be honest just have a skin care specialist work with you. everyone has different types (oily, dry, etc.)

      Reply
      • AvatarFka925 says

        April 12, 2020 at 6:03 pm

        gotcha! No skin problems here. Your ‘Spending’ book specifically mentioned reading up on collagen/blood flow etc. I figured there’d be at least one or two credible sources that provide baseline knowledge (could be wrong but there usually is).

  21. AvatarMshiddensecret says

    April 12, 2020 at 5:35 pm

    Are you part of any association/club? I.e young entrepreneur council. Any you would recommend for networking?

    Reply
    • Wall Street PlayboysWall Street Playboys says

      April 12, 2020 at 5:36 pm

      No networking is for people with no value hoping to scam their way into a good role. If you have value people look to find you

      Reply
      • Avatarkowloonboy says

        April 17, 2020 at 8:25 am

        Can confirm. If not build up skills first, it’s likely be miserable *even if* you can game the system and get yourself a nice role. Since you kind of over-promised your potential employer/business partner but you underdeliver as time goes by… Not a healthy long-term strategy.

  22. AvatarAnonymous says

    April 12, 2020 at 5:43 pm

    Have you guys dealt with jock itch before?

    Embarrassing to talk about but conventional methods have not helped me just keeps it tame.

    Reply
    • Wall Street PlayboysWall Street Playboys says

      April 12, 2020 at 7:40 pm

      No sounds like the wrong website for this

      Reply
    • AvatarHenrique S says

      April 12, 2020 at 8:51 pm

      Haha what a question
      It takes a few weeks to heal using an antifungal regularly on the affected skin

      Reply
  23. AvatarNewSales says

    April 12, 2020 at 5:44 pm

    The last few posts have been great. Thanks for staying active with incredibly useful info!

    1) Do you think lower priced residential real estate (cashflowing SFH, small multis in smaller markets) will be hit hard as well in ~120 days? Was in the market to buy / hold and buy/flip some properties right before covid hit.

    2) Who are some of the active affiliate marketers / digital products (and their websites/twitters) right now that are killing it?

    3) From another Q up there: ^ “yes we think it goes down from here and noted fair value is around 2,200-2,300. Somehow we got the bottom right and rebought but went back to neutral again at 2640 (no longer buying)”
    Curious when did you guys sell your s&p initially before rebuying at bottom? Or do you mean you just started buying again at the bottom (without selling previously)?

    Reply
    • Wall Street PlayboysWall Street Playboys says

      April 12, 2020 at 7:42 pm

      1) yes of course the apartments are levered up and rented out to people not paying
      2) Pretty much every single one of them honestly. We’re making a killing (not referring to blog) its almost mind boggling 4-5x
      3) This is answered in the prior posts which you claim to have read! Ha!

      Reply
      • AvatarAnonymous says

        April 12, 2020 at 8:31 pm

        Got it thanks!

        in regards to #3.. I remember you guys mentioning you would just hold cash / buy crypto, no more buying stocks and would announce when you would sell hahah.

        So just curious if you did end up selling at all at some point or stuck with just rebalancing % of NW with cash flow.

      • Wall Street PlayboysWall Street Playboys says

        April 12, 2020 at 10:09 pm

        Rebalance when it hit 2200 bought up

  24. AvatarMarcus says

    April 12, 2020 at 5:51 pm

    Long time reader – first time participating in Q&A.

    What long term macro trends are most interesting to you for B2B service businesses? (Examples would be #metoo giving a post to HR Compliance Businesses)

    Reply
    • Wall Street PlayboysWall Street Playboys says

      April 12, 2020 at 7:39 pm

      Uhh our view is all that stuff is dead. Hard to care about that when revenues are down 20%

      So services should be back end focused (see other comments in this Q&A). Anything that gets rid of all back end jobs

      Reply
  25. AvatarPotreroHill says

    April 12, 2020 at 6:14 pm

    Practical suggestions to stay sane right now while stuck at home? Even just a link to an article or blog post elsewhere. Definitely feeling a bit irate the past few days. I’ve heard meditation or whatever could help but I have no idea where to begin.

    Reply
    • Wall Street PlayboysWall Street Playboys says

      April 12, 2020 at 7:33 pm

      Check our twitter already have several suggestions about 5-10 tweets back

      Reply
  26. AvatarJ says

    April 12, 2020 at 6:15 pm

    39 M. Work in a University as Financial Administrator ($130K/year), have 13 units of Buy and Hold Real Estate ($159K/gross; $36k/net). I realize that I am very late to the game.

    Looking to get a CPA license to open an online accounting practice, bid on Gov’t contracts as a side gig. Even if the business doesn’t pan out as planned, the credential will help me with a higher paying job.

    Is it worth pursuing the CPA + online practice path?

    Reply
    • Wall Street PlayboysWall Street Playboys says

      April 12, 2020 at 7:38 pm

      We wouldn’t waste time with it personally, would read our books instead. That isn’t scalable and is too slow. But if you just need some more money and don’t plan on getting rich it’ll work

      Reply
  27. AvatarAlex says

    April 12, 2020 at 6:18 pm

    Given some of your tweets on levering up at the bottom – thoughts on SPXL or similar as a long term hold (until the next peak) for when that time comes? Already assuming emergency fund and so forth is taken care of. This is money I’m talking about that could safely be deployed for 8-10 years and not drawn down at all, necessary due to the extreme volatility that an ETF like that will have. Thoughts?

    Reply
    • Wall Street PlayboysWall Street Playboys says

      April 12, 2020 at 7:32 pm

      Sure this is a risk tolerance question. Only you can answer that

      Although if not even a millionaire (wasting time again)

      Reply
  28. AvatarDave says

    April 12, 2020 at 6:19 pm

    Hi, I’ve accepted a place at a top tier university in the UK, course starting this year, and am then aiming for M&A as that is where I’m best suited based off my intelligence type.

    How do you think corona will affect recruiting and internships in the next few years?

    Reply
    • Wall Street PlayboysWall Street Playboys says

      April 12, 2020 at 7:31 pm

      No change at all. Just lower number of openings so more competitive

      Reply
  29. AvatarT says

    April 12, 2020 at 6:28 pm

    Small time RE investor (buy and hold, fix and flips). Currently working a W-2 career in software sales to supplement RE business. I’ve gained footing with an investor who’s interested in partnering, which can open the doors with other potential investors (all HNW). What do you consider as the best route for growing the business – fund of property development? I’m in my twenties with a small, but proven, track record. Looking to do RE full-time.

    Thanks again for all your guidance throughout the years.

    Reply
    • Wall Street PlayboysWall Street Playboys says

      April 12, 2020 at 7:31 pm

      That is too far out of scope. On a glance we wouldnt do it as partnerships with 50/50 is usually a failure

      Find a way to pay for advice instead

      Reply
  30. AvatarMarcus says

    April 12, 2020 at 6:33 pm

    What niche B2B SaaS companies are most attractive going forward?

    My suspicion is that remote working will increase over the long term, benefiting talent management platforms for white collar industries but I would love additional insight on other areas that will win.

    Reply
    • Wall Street PlayboysWall Street Playboys says

      April 12, 2020 at 7:37 pm

      Too broad, anything that helps people work remotely and delete anything back end (from assistants to technical support) will be winners

      Reply
  31. AvatarInvisible_tracks says

    April 12, 2020 at 6:42 pm

    1) If you had a company with say 100 employees and you faced a possible recession like the one that’s probably coming, would you, instead of laying off people and cutting costs, instead increase their salaries, market more aggressively and aim for total domination, once things would start picking up again?

    2) Excactly where and how do you identify the booming markets based on the Coronavirus and the upcoming recession?

    3) Now that Cannabis is legal to grow and cultivate in so many states, would you agree that CBD oil has potential for being a surging market, especially given the large number of old baby boomers who are retired, unhealthy and overweight?

    Reply
    • Wall Street PlayboysWall Street Playboys says

      April 12, 2020 at 7:30 pm

      1) probably not, thats too big of a company would cut for sure and automate
      2) do not know yet, it will appear in 3-4 months
      3) again not sure, that could easily be monopolized by big tobacco long-term

      Reply
  32. AvatarVB says

    April 12, 2020 at 6:59 pm

    I asked a question this morning already so feel free to reject this one.

    I didn’t understand why you recommend not bothering about crypto until min investment is 250K. Did I misunderstand? If not, what is your reasoning?

    Reply
    • Wall Street PlayboysWall Street Playboys says

      April 12, 2020 at 7:29 pm

      Already answered too many times on the blog not going to allow this one

      Reply
  33. Avatarsacha says

    April 12, 2020 at 7:22 pm

    In regards to your post on Twitter:

    https://twitter.com/WallStPlayboys/status/1247932710925946880?s=20

    Does being a trade qualified horticulturalist count as a trade?
    I am one and was thinking of ways to make it work such as start a lawn care business, backyard nursery etc. Is this viable or am I much better of going into any of the other mentioned trades?

    Thank you!

    Reply
    • Wall Street PlayboysWall Street Playboys says

      April 12, 2020 at 7:28 pm

      Not sure that one is tough to scale because we don’t know how you would create recurring revs on that without man power

      But if you know it well go for it

      Reply
  34. Avatarit will go away in april says

    April 12, 2020 at 7:28 pm

    Due to some bad luck, was laid off from software engineering job prior to pandemic.

    Taking your advice about sales, was working on switching to sales/sales engineering when the pandemic hit, got lots of ongoing sales interviews cancelled.

    Would you think that this would be a tough time to try and make a career switch from SWE to Sales? A lot of companies have hiring freeze and not getting good traction with Sales job leads, but still get steady amount of recruiting calls for Software engineering jobs.

    Would it be wise to make the move to sales career now or just find a SWE job in the meanwhile to wait out the storm?

    Reply
    • Wall Street PlayboysWall Street Playboys says

      April 12, 2020 at 7:36 pm

      WAY harder to switch careers during a recession so best bet is to stay in same function and search for a new role with similar work.

      Maybe you get lucky but that’s the reality

      Reply
  35. AvatarNumber Runner says

    April 12, 2020 at 7:48 pm

    Q1) I’m getting into affiliate space, what traffic source/verticle is the best for beginners?

    Q2) Biggest change in affiliate space since you released Efficiency?

    Q3) When you were in the space (while employed I’m guessing) how much time did you spend per day on managing your camps?

    Happy Easter!

    Reply
    • Wall Street PlayboysWall Street Playboys says

      April 12, 2020 at 10:34 pm

      1) impossible to answer depends on your selling style, the major categories are in the book
      2) nothing just significantly more competitive and more bans etc. Competition goes up in every industry every day
      3) A ton pretty much all free time until making significant money. No time for “partying” except 1x a week as we knew relying on someone else for livlihood was foolish

      Reply
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