John Grace is the Founder and President of Investors Advantage Corp., a Westlake Village, California-based financial advisory firm. With over four decades of experience, John is known for his client-first approach, emphasizing data-driven decision-making and loss mitigation. Under his leadership, Investor’s Advantage has established a regional stronghold managing over $1 trillion in assets through its collaboration with LPL Financial Corp. A renowned financial advisor and author, John translates complex economic data into actionable intelligence through his work as a contributing writer for Pacific Coast Business Times.
Here’s a glimpse of what you’ll learn:
- [1:39] John Grace’s entrepreneurial roots of mowing lawns in South Los Angeles
- [4:17] The pivotal mentorship that launched his financial advisory career
- [9:04] Why John founded Investors Advantage Corp in the mid-80s
- [11:32] Overcoming self-doubt through investment in high-level research
- [13:16] Transforming limiting beliefs through critical questioning
- [15:23] Why John chooses independent research over commission-driven sales
- [17:30] Building trust with engineers through analytical rigor
- [20:21] How proactive planning helped clients avoid 2008 losses
In this episode…
Mentorship can be a powerful catalyst in shaping a person’s career, especially in industries where representation is lacking. Too often, young professionals miss out on guidance that could unlock their potential and set them on a transformative path. How can a single mentor alter the course of someone’s life and career trajectory?
According to John Grace, who founded and leads Investors Advantage Corp., his entry into the financial world began with an unexpected offer from the father of a friend — a seasoned advisor who saw promise in him and offered to be his mentor. That relationship gave John not only the technical knowledge to earn his license but also the confidence to succeed in a field where few looked like him. Decades later, he continues that legacy by mentoring the next generation, including the grandson of his original mentor.
On this episode of the Top Business Leaders Show, Rise25’s John Corcoran welcomes John Grace, Founder and President of Investors Advantage Corp., for a conversation about financial resilience, mentorship in underserved communities, and what makes engineers the ideal clients. John also offers powerful advice on independent thinking in a saturated financial world and the importance of proactive planning for uncertain futures.
Resources mentioned in this episode:
- John Corcoran on LinkedIn
- Rise25
- Email the team at Rise25: support@rise25.com
- John Grace on LinkedIn
- Investors Advantage Corporation
- Redondo Beach (formerly TRW, Inc.)
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Episode Transcript
Intro: 00:04
Welcome to the Top Business Leaders Show. Powered by Rise25 media, we feature top founders, executives, and business leaders from all over the world.
John Corcoran: 00:20
All right. Welcome everyone. John Corcoran here. I’m one of the hosts of this show. And you know, every week we feature smart CEOs, founders, and entrepreneurs from all kinds of companies.
And if you check out our archives, we’ve got lots of great episodes in there for you to listen to, including companies like Netflix, Grubhub, Redfin, Gusto, Kinkos, and many more. And before we get into this interview, this episode is brought to you by Rise25. At Rise25, we help businesses to give to and connect to their dream relationships and partnerships. How do we do that? We do that by helping you to run your podcast.
We are the easy button for any company to launch and run a podcast. We do three things: strategy, accountability, and full execution. And we even invented what some are calling the Wix of B2B to be podcasting. It’s our platform. Podcast Copilot.
So if you want to learn more about that, you can go to our website at rise25.com or email our team at support@Rise25.com. All right. My guest today is John Grace. He’s the founder of Investors Advantage Corp, an expert in wealth management.
And we’re going to talk about that as well. But we’re also going to dive into his background. His story grew up in South Los Angeles. And John, a pleasure to have you here today. And I was talking to you last time about what you were like as a kid, and I always loved to know what people were like.
And it kind of entrepreneur hustles they had at a young age. And you grew up mowing lawns, and you said that you loved the smell of fresh, fresh cut grass, which is one motivation. The other kind of green is the other kind of motivation behind mowing lawns. I imagine it wasn’t just the smell of the grass that was motivating you. So talk a little bit about what that was like when you were growing up.
John Grace: 01:54
Well, it used to be a lot easier. John, is it good to be with you? Right. Whether it was throwing your newspaper or you had your own money. That’s the point, right?
So for the first time, you weren’t looking for a handout increase in your allowance? No, this is my money. So I get to save and do with it as I wish. That’s very satisfying. And being outside to me is also very satisfying.
So yeah, it hits a lot of notes.
John Corcoran: 02:21
And so you started doing that, and you had a lot of gardeners in the area and you started. Did you go around knocking on doors? Did you ask neighbors like, how did you get your first few clients?
John Grace: 02:33
Yeah. Well, I started on my own lawn. Right. And the neighbors would notice how that looked really good, and some of them would approach me sometimes, when I noticed that a lawn needed some work, I would go knock on the door. So that’s the way you kind of figure out, hey, maybe you didn’t notice how these lawns are looking, but guess what?
We can take care of your lawn. And I do hedges too. So let’s get started. And yeah, it was it was great fun. Good memories there.
John Corcoran: 02:59
Talk to me a little bit about what your upbringing was, was like, because you grew up on the South Side and you ended up to school on the West Side. For those who don’t know Los Angeles. Explain that to me. Like socioeconomically, what was that like, and what was that experience like for you?
John Grace: 03:14
Well, to my friends at school, yeah, I grew up in the flatlands. That’s what they called it, because they lived on the hill. Right? And that was an area.
John Corcoran: 03:22
For those who don’t know, California hills, generally nicer flats, generally not as nice views and people. Everyone wants a view in California.
John Grace: 03:31
Everyone wants a view. Yes, yes. And that’s what I saw every day, you know, going back and forth to my, my I had a set of godparents. He was a pharmacist. And they bought a house on the hill and they said, yes, you can use our address to go to elementary, middle school and high school.
And every day I would see the people who were, you know, working good people. But these folks on the hill, my goodness, where there’s two Cadillacs and you could look out the back window over the fence and see the view of Los Angeles. And it’s just commanding all this growth and all this opulence. So I think that probably planted a seed, if you will, because, you know, on a daily basis, you’re seeing the people who are really well-to-do and the ones who are not so well-to-do. And that probably was the catalyst for me to kind of wonder about all this.
And then, I happen to be a best man in a Jewish wedding. And the family had bought in the Marina, and he heard me talking.
John Corcoran: 04:28
Del Rey and Marina del Rey, the beautiful areas of Los Angeles.
John Grace: 04:32
Beautiful area. More. More water, more views. You know, more vistas. Who doesn’t like the ocean, right?
I certainly do. And this the father of the groom said, hey, I’m a financial advisor and I’m willing to be your mentor. If you’d like, I’ll coach you on how you too, can be a financial advisor. I’m like, really? I’ll explain more.
How much blood do you want? Okay, let’s get started.
John Corcoran: 04:55
Yeah. What did he see in you? Why do you think? Why did he make that offer to you?
John Grace: 05:00
I you know, I never asked that question, but I was, I suspect that, well, I you know what? I had to come over to the house for training. I had to make sure the car was clean. I had to make sure that I showed up in suit and tie for the training. Just with him for the classes.
Right. And we would go through some of the things that, he learned so I could get licensed, and it might have something to do that I, you know, for the most part, I wasn’t disheveled and I was clean cut and I could speak pretty well. And he thought that that might be a good combination to see where I might go under his tutelage.
John Corcoran: 05:38
It’s funny how life just pivots. It’s funny how life just takes a turn on that one relationship. You know, one person. Well.
John Grace: 05:46
And to your point, this is just 2019. I was flying up to Seattle for a conference, and that’s where the groom and his wife now live. And I’m on the airplane on the phone with the groom’s son in Boston, who says, I wanted to talk to you because my dad says you’re you’re you’re were trained by my grandfather. And maybe you could give me some pointers on whether or not I should be a financial advisor. I’m like, oh my goodness.
You know, talk about who would have thunk. I’m like, listen, you need to know Zach. You own me. All right. Whatever I can do.
Count on.
John Corcoran: 06:23
It. That feels like a heavy sense of obligation.
John Grace: 06:27
100%. I’m like, I don’t know how this happened, but, man, I am here. You tell me what you need, and I am. I am there. And by the way, you might be interested to know that I can tell you some stories about your grandfather.
You didn’t. You didn’t get. Because I know you two never met.
John Corcoran: 06:41
Oh, that’s really nice.
John Grace: 06:43
We can talk about that, too.
John Corcoran: 06:44
That’s true. Was that really gratifying, being able to tell him stories about his grandfather?
John Grace: 06:49
Yeah. Priceless. Both combinations. And by the way, he did get licensed, and he’s in the business.
John Corcoran: 06:54
Wow. Wow. Why do you think it skipped a generation like that? Why did the grandson get interested in going into it?
John Grace: 07:01
Well, the son became a biomedical engineer. You know.
John Corcoran: 07:05
Not too.
John Grace: 07:06
Shabby. Yeah, really smart guy. And that’s what. That’s what he wanted to do when he grew up. And that’s what he did.
John Corcoran: 07:13
He also had a mentor, Ken Morse.
John Grace: 07:16
That’s his name.
John Corcoran: 07:16
That was that was. That was the same one.
John Grace: 07:18
Yes. Yes, sir. That’s the groom’s dad. Yes. Got it.
Morse? Yes.
John Corcoran: 07:23
So? So you get this. You get this training. And then what happens next? You get a job in the industry.
John Grace: 07:30
Oh, yeah. Yeah. And I’d like to say, you know, it’s sometimes it’s better to be lucky than good. Back in the old days, you know, if you weren’t with Mother Merrill as a stockbroker, you weren’t really legit.
John Corcoran: 07:42
And Merrill Lynch was the brokerage that everyone depended on. Yeah. Huge.
John Grace: 07:48
Mother. Merrill. All right. They wrote the rules. Until they went away.
But at that time, it was like a boxing match, you know, because for the most part, people were either stockbrokers or they were insurance brokers, and never the two shall meet. And I happened he happened to be with the company that was the largest independent financial planning organization, not with Mother Merrill. They didn’t do financial planning. They were stockbrokers. But this was like a marriage, if you will, between.
Well, we need to put a plan on both sides of the equation. If you live too long or die too soon, we want it financially to be a non-event. So we’re not mired too far to the left in stocks, nor to right on the side of insurance. We need to do both so that, whether you, as I say, live too long or die too soon financially, you can see what it takes to be better off. So that was a beautiful beginning.
And lo and behold. And then we got to the point where we would say about ourselves, because we weren’t Mother Merrill. We were on the dark side. Okay. And guess what, Mother Merrill?
Merrill Lynch went away. Now, Bank of America Merrill Lynch and so many of the advisors that were with the big wirehouses came to the dark side and started doing financial planning.
John Corcoran: 09:08
So but you were way ahead of your time then, because you founded your company in 1979, back when there weren’t as many independent advisories back then?
John Grace: 09:18
Well, that’s when I got my first license. I started Investors Advantage around 86. Okay, so.
John Corcoran: 09:23
Still early though, right? I mean, was it still early? Was that pretty contrarian at the time? What did that take some convincing to to explain to people why you shouldn’t go with a big company like Merrill, why you should go, why they should trust you?
John Grace: 09:36
Well, you know, for me, it’s about determining what you think is the better or the best offer, not to be too mired in whatever you do to me. We should all be a lot more agile. And as I say, if we’re going to do a financial plan, it’s not just how much money can you put in the stock market? And it’s not about what your budget for buying the most insurance someone can sell you. It’s it takes a more thorough approach to really figure out when you want to make work optional.
You know, most people aren’t doing that. But for me, that just seemed like the right thing to do. And by the way, when I talk to young people now and they’re saying, well, I’m getting these offers, what do you think I should do? I said, you need to go home and look in the mirror before you take any offer and assess what’s important to you. What do you think constitutes doing really good work in this industry?
Then look for the firm that thinks like you, because there are a lot of firms that will hire you and they will get you high on their system, and then you can’t leave there or you can’t take your clients with you. They’ve got you by the short hair. So really look in your own heart and figure out, do you want to be with the banking company? Do you want to be more insurance-based? Do you want to be more of a product person?
Do you want to be commissioned? Do you want to be paid as a flat fee for the assets under management? These are the questions you need to ask yourself and look at the operations that are doing what it is they do, and then go interview these operations that you already believe are close to how you think business should be done. Otherwise you’re going to you’re going to get in and then you’re going to have regrets. And it’s going to be really difficult to to break rank.
John Corcoran: 11:22
I want to ask you about what I think was maybe a bit of a turning point for you. You have said that you started with a bad attitude, thinking you’d never be good enough, and then you started paying up to $10,000 a year for research, which in the, you know, at the time that you started must have been a massive amount. Talk a little bit about how that played a role in kind of changing your attitude, changing your thinking.
John Grace: 11:46
Yeah, That’s an interesting experience. As I look back, you know, you can imagine being African American and talking about stocks. This is not a place that we generally play. This isn’t basketball or football or track, right? And I’m not a musician, not an entertainer.
And so when I went to my first class, the instructor was there. And he had you had to sign in and sign out to verify that you were there for the class. But I’m looking at the people in the room and I’m like, and you just look at these folks, and they’ve all got their fancy calculators, and they just look smart as they could possibly be. And, and I look at me walking in that room going, oh, am I in the right room? Is this am I going to am I going to make it here?
But that probably reveals a lack of confidence, right? It’s like, you know, basic decision, am I? I’m not good enough. That wasn’t a question. That was a statement.
And as I’m signing out the first day for this class, Joe, was instructor’s name. He said, I was looking forward to meeting you. I said, why, what’s wrong? He said, what’s your name? I go, why?
What’s wrong? He goes, well, you know what grace means, don’t you? And I go, what’s it mean? He goes, well, it means unmerited favor and he can see me.
John Corcoran: 13:07
Unmerited favor.
John Grace: 13:08
Unmerited favor. Well, you don’t get it, do you? And, you know, you’re just standing there and you’re like, I can feel the boom coming. I can’t tell where it’s coming from, but I know I’m being set up for something. And he finishes with, well, you know, it’s unmerited favor, John means like God’s gift.
You know, where you get something you didn’t deserve. That’s the definition of grace. And I’m like, really?
John Corcoran: 13:31
Was it a dis or was I can’t tell.
John Grace: 13:36
No, no. He was he thought it was a great name. That’s why he was looking forward to meeting Grace.
John Corcoran: 13:40
Okay.
John Grace: 13:42
But, you know, I never heard that before, so I didn’t know where he’s coming from.
John Corcoran: 13:46
I can see how you like. Your shoulders are hunching up like. Wait a second. What is he trying to say to me here?
John Grace: 13:53
Yeah. Where am I going to get booted? Okay. What’s going to happen next? Can I come back for the next class?
So. But that’s that’s how the the first stage, if you will. And then ultimately, as I said, I realized I made a bad statement saying, you know, you’re you’re you’re not enough. That’s a bad statement. So I discovered that what I needed to do was turn that around into a question, because when you make a statement, what you do is you fill in all the blanks with why that is true.
But if you ask an open ended question, guess what? You have to fill in the blanks with some answers, but you don’t already know the answers. So what I decided to do is to really determine what’s average. Let me what do I have to do to figure out in the profession, regardless of complexion, age, gender? What’s average?
What do most advisors do? Let me see if I can figure that out. And then once I have that basis, the question becomes, how can I beat average? Now that’s a damn good question. All right.
Let’s see what everybody else is doing. You know, kind of like the advice I’m giving to the young people now. And what you need to do, John, is figure out what you think is the right thing and see what averages. And then see what you can do to be better than average. If you get better than a C, that’s that’s better than average.
And so that’s how we actually started finding out about a research company that doesn’t have product to sell. Because you know John, when you have a product to sell, whatever the provider, the hierarchy is telling you what, how much of this you should sell.
John Corcoran: 15:26
Therefore, you must buy my mutual fund or whatever. Yeah, exactly.
John Grace: 15:29
Yeah, yeah. My ETF, my mutual fund, my annuity. Okay. Long term care. But put that in everybody’s pockets.
[Continue to Page 2]
Okay.
John Corcoran: 15:36
Right.
John Grace: 15:37
So yeah that’s that’s probably not the best way to to go about business. But if you’re paying for research where they don’t have anything to sell except information. That’s different. All right. And if the information is doing something unlike most firms, rely on looking at the buying and selling behavior of consumers based on age.
Well, that’s different than looking at the data relative to how much of what you sold.
John Corcoran: 16:04
I want to go back, though, to this this idea that you you believed you were less than good and you paid more money for independent research. What else did you do in order to convince yourself that you were less than good? Did you do personal development? Did you read inspirational books? Did you start hanging out with a crowd of more successful people?
Like, what are the specific things that you did?
John Grace: 16:29
All of the above. And on top of that, I managed to secure a supervisory license so that I could talk to other supervisors about what my peers are doing. So now I can and, you know, so I had a number of people where I was a supervisor, but I also had access to other supervisors where I could get from them. What are you guys thinking? What are you guys doing?
What are you preparing for? I love engineers because they their logic is let’s look at the worst case scenario, see if we’re prepared for that. If we’re ready for that, we’re probably ready for just about anything. But they don’t look at it from the standpoint of give me the rosiest story you can pass on. They don’t like that pie in the sky stuff.
Their attitude is particularly aerospace engineers. And guess what? We work a lot with engineers. Their attitude is, listen, we put a man and a woman on the moon. We brought them back safely.
So what have you done? You know.
John Corcoran: 17:27
And fortunately, in Southern California, there are a fair amount of aerospace engineers. There have been over the last 30 years. There’s a lot of aerospace companies. How did you. It’s one thing to know I like working the engineers.
Did you just kind of like build a reputation working with some of the clients, and then they recommend you to their peers and colleagues.
John Grace: 17:45
Okay, so here’s my first time with a group of engineers. A client introduced me to her boyfriend. We became friends and turned out that we grew up in the same neighborhood. But I did not go to the high school that I was supposed to go to. So we never met.
But he managed to start doing business and he posted me coming in to a TRW member in Manhattan Beach back in in the 70s and 80s and had me do a presentation in front of his peers. It was a round auditorium, as I recall, and I will tell you, I had practiced. I met with my supervisors, my mentors. You know, I thought I was ready, man. They asked me some questions.
I walked out of there, like with my hat on, and the door wasn’t open. I mean, I just slid underneath the closed door because I got obliterated. So when I got back to the office and everybody’s going, how’d it go? How’d it go? I said, well, I have to tell you the truth, It did not go well and I will be back.
So I used that to say, okay, that wasn’t fun. But these are smart people. And man, if you can work with smart people, that’s a good way to go. So I kept working on my, my presentation and, and the ideas and tested them with other engineers and got back to a couple of other presentations a year or two later and and we’re off.
John Corcoran: 19:07
So, so so it actually had a result of motivating you to 100%. Yeah. To to be more prepared the next time to answer the questions, the engineers probably ask very detailed specific questions.
John Grace: 19:19
Very specific questions. And they look at you to see if they can discern your lying through your teeth. They will call you on it. Okay.
John Corcoran: 19:28
So they’re so they’re a tough crowd.
John Grace: 19:30
They’re not afraid of a of conversation okay. They they’re they’re not afraid also to be mistaken or they’re willing to learn. Well gosh darn it, that’s healthy.
John Corcoran: 19:40
Yeah, that’s an interesting insight that you realize that that was the that was kind of psychosomatic qualities around the, the type of client that you were drawn to.
John Grace: 19:52
Yeah. Yeah. So we’ve got engineers of all stripes now. I love these people because they, they, they are good at critical thinking. And I mean, couldn’t we use some more of that?
John Corcoran: 20:01
Yeah. Yeah. I want to ask I want to ask about.
John Grace: 20:05
They don’t have a problem with math. Maths. The only four-letter word Americans are afraid to use.
John Corcoran: 20:10
Yeah. Right, right. I want to ask you about you. You started the company in the 80s. There have been so many booms and busts in that period of time.
You know, just so many from the .com meltdown to Covid to the 2008, you know, Great Recession. What do you think that has been the reason that you’ve stuck around all these years. You’ve managed to survive?
John Grace: 20:36
Yeah. Well, you know, it’s we’re willing to learn. And we’re learning. We’re willing to apply the technology and also look at do some introspection and look at how the average advisor works. And it’s a great question, because I submit that millennials have a problem with many of my peers because they saw their parents go through not one, but 250% losses.
- That’s two in a decade. Okay. Now, by the way, it was in late oh six that my leading math man and I was new hire at the time, and I went to a workshop where the speaker said this, ladies and gentlemen, let’s be ridiculous. There’s been 150% loss so far this decade.
Let’s be ridiculous and imagine there could be 250% losses in the same decade. On the way back to the office, I looked to my leading math man and go, you’re better at math than I am. And I’ve been looking at some technology that I think could be useful, but I can’t tell which ones are good. So here’s the one two punch we need to work on immediately. He got my attention with the question.
Nobody asked a question like that. But I love the question. Who knows what’s going to happen? Please look at the technology, figure out what we can use, and let’s see what we can do to start as early as possible. Going to our clients to say, here’s what we think makes sense for you to do.
In the case that losses are around the corner, where we might be able to limit your losses. Okay. And that’s what we did. And we started to be better to be lucky than good in January of oh seven. Long before 2008 saying, hey John, here’s some things we think you can do to they’re not here yet, but they could be around the corner to limit your losses.
And some clients say, oh yeah, let’s do that. Some clients said, we’re fine. And then in oh nine, the ones who said, yeah, let’s do that. They come back going, that was a good thing. And the ones who didn’t said, is this what you were talking about?
Maybe we should we should do what you had in mind. But notice. Look, the good news back then, like your parents, right? They were making contributions to their 401 K accounts to their retirement accounts. So those 50% declines was actually a blessing when you’re making contributions.
Yeah. Now that blessing becomes a curse when you start taking withdrawals. So one of the reasons that I love doing what I’m doing is because we don’t we don’t look nor talk like most of my peers who say things like, write it out, don’t look at your statements. I mean, really live with the losses. No, no no, no, no, I’ve got good news for you.
There are ways that investors have been successful at limiting their losses. You might want to see what others have done in the event the next time is worse than the last two times, and it takes even longer to recover. This is a good time to see what you can do in advance before the dam breaks, to see how you can limit those losses, as opposed to get kicked in the assets again.
John Corcoran: 23:39
Yeah. I want to ask about, you know, how do you push back on clients. You mentioned that, you know, in in 2007, you had you went to the clients and said, okay, we think you should be prepared for adjustments, losses in the future. How much do you how do you know how much to push back against the ones you’re like, oh no, it’s fine. This will keep on riding.
John Grace: 24:04
Yeah. No, you leave them there. This is your money. This is your call. You make the call.
But I let’s put it this way. I would rather be the canary in the coal mine before the grits hit the pan. To say, I don’t know that this will play out, but here’s some things that we now see are available to you. You want to partake? Yeah.
You don’t know. And if you do, fine. And if you don’t, that’s fine. But I won’t feel guilty if the grits hit the pan again and your engineer counts down 50% again when it didn’t need to be, because we had that conversation about what might happen and you chose to put it on ice. You chose not to take any action.
John Corcoran: 24:45
Only so much you can do, I guess. Yeah. Yeah.
John Grace: 24:49
To water.
John Corcoran: 24:50
Almost or almost out of time here. But I want to ask, you know, you mentioned when you first got into the profession, there weren’t many that looked like you. And you know, they were you know, most African Americans are at the time were known for sports or music or something like that. How do you think the profession has come along now? Is it a more diverse profession now?
John Grace: 25:12
It’s not really. I mean, it’s I, I don’t know the numbers, but let’s let’s put it this way. We’re with LPL financial. They are 25,000 licensed advisors around the country. Best I can tell, they’re there may be.
well. Let’s see. I like to look at not just African Americans, but all ethnicities. This is America, and I guess some people have a problem with the browning of America. But it is real and it is happening.
So what I believe I’m looking at are the numbers that I’m aware of, whether it’s Latinos or Asian Americans or African Americans. I would be surprised. I would be absolutely surprised if the number was as high as 400 out of 25,000. Wow. So not much has changed.
John Corcoran: 26:04
Wow. And so why? What do you think can be done about that?
John Grace: 26:09
Well, I think it starts with this. We need to encourage each other to do critical thinking. We need to recognize that we just can’t buy the biggest house and expect life to be fantastic. We need to encourage each other to do math, to really assess what’s important to you, to encourage folks to recognize, let’s do what it takes for you to see how you might make work optional on your terms. And and and we’ve got to we’re going to.
It would not surprise me that we see some big surprises where people made some magnificent bets that played well for the last 30 years, and so they get 100% comfortable with this tree still going to grow to the sky. And, you know, if we have a real reckoning as far as the economy, which would not surprise me, where the things that people got really high on and they’re, they’ve got like one client who happens to be an engineer. He’s got a lot of money in his 401 K, but their five paid-off homes. That’s probably 75% of his net worth in one asset class. If that’s not a situation that’s poised for an awful moment, I don’t know what is.
And whether it’s Nvidia or Amgen or, you know, one friend of mine has 12 houses. People have made some big bets in the economy and the great gains have been so fantastic. They’re not looking to see what the Yales and the endowments are doing, where they only have 3% of their portfolio. Last I looked Yale endowment in US stocks. The industry is still suggesting you, your mother, your parents, and your sister.
Everybody 6040. You know, we can agree that’s a two-legged stool. And we look at the endowments like Yale and Harvard. I count five, six, seven legs under their stool. I also notice that their portfolio is no more.
Not one position is larger by than 24%. So for most of us, that’s a small bet.
John Corcoran: 28:10
Yeah, yeah. Well, John, this has been great. Thanks for your time. Where can people go to learn more about you and learn more about Investors Advantage?
John Grace: 28:19
Well, you can see us at Westlake Financial Advisors. Investors Advantage. We’d love. By the way, John, we’d like to take 15 minutes with folks to see how we might be of value. Maybe we can, maybe we can’t.
But we want people to be better prepared than they ever have been because things have a way of going, oh, in the middle of the night. And now it’s spoils. And maybe, like I say, you know, if we look at the Great Depression, it took 25 years for stocks to come back. It took New York real estate 40 years to come back when life expectancy was 57.
John Corcoran: 28:55
Wow wow wow. Yeah, yeah.
John Grace: 28:57
It’s a long time. And remember, with the stocks for 25 years, you had to do what? Not sell a share for it to come back.
John Corcoran: 29:03
Yeah. Yeah. John thanks so much for your time. Appreciate it.
John Grace: 29:07
My pleasure, my friend. Thank you. Good to be with you. Take care.
Outro: 29:10
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