Codie SanchezFounder @ Contrarian Thinking

Why NOW is the time to start investing in boring businesses…

19 Jun 2022 · 1 min

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Codie Sanchez observes recent stock-market volatility and tech-company downturns, argues that many large tech firms are overvalued and likely to fall further, and recommends investing in stable, cash-flowing "boring" businesses (example: laundromats) as a way to generate daily income and financial independence. The tone is informal, observational, and prescriptive.

Chapters

Have you seen what's happening in the stock market today? Is it kind of starting to freak you out? I make jokes about this a lot. Like I did this tweet which said Uber is valued at 85 billion, loses 500 million a year. My laundromat bought for 100k net, $67,000 per year. It's kind of true. Increasingly, these huge tech companies that we've all made a lot of money on are now coming, crumbling down and lo and behold, nothing goes up forever. My prediction is that this is just the beginning. We're going to continue to see the market come back down. We're going to continue to see these companies that are just money losing machines come down in value. And that little Laundromat that everybody gave me, shit, people are going to want to buy more of those, those boring businesses that give you income every single day. Because that's how I get to live like this, a normal person, without having to raise billions of dollars just through quarters. I think this is just the beginning. Maybe watch out in the stock market.