Welcome to our latest episode. Today, we are thrilled to welcome Salena Kulkarni, a seasoned chartered accountant, certified property investment adviser, and wealth strategist. Salena brings a unique perspective on real estate investing, combining her extensive experience in the field with her focus on building expansive networks of off-market opportunities. This episode is packed with valuable insights on how to navigate the complexities of real estate investment and wealth building.
In this engaging discussion, Salena shares her journey from being a chartered accountant to becoming a trusted advisor for investors worldwide. She explains the importance of accurate property valuation and how it can significantly impact investment decisions. Salena also talks about her approach to driving up investment cash-flow and building wealth through strategic real estate investments. Building on these insights, Salena dives into the current real estate market dynamics, touching on the effects of rising interest rates and the challenges and opportunities they present. She emphasizes the importance of having a solid understanding of market conditions and the value of reliable data in making informed investment choices.
Whether you’re an experienced investor or just starting out, this episode provides a wealth of knowledge on how to succeed in real estate investing by leveraging accurate valuations and strategic planning. Tune in to the full episode to gain invaluable insights from Salena Kulkarni and elevate your investment strategies.
HIGHLIGHTS OF THE EPISODE
00:24 – Guest intro: Salena Kulkarni
01:50 – Salena’s background and journey
04:00 – The role of property valuation in real estate investing
06:00 – Investment strategies for driving up cash-flow
10:00 – Challenges and opportunities in the current real estate market
12:00 – The impact of rising interest rates on real estate
18:00 – Strategies for successful real estate investing in 2024
22:50 – Wisdom from Salena and closing remarks
If you found this episode substantial and want to dig deeper into real estate, or maybe you want to discover better investment opportunities, be sure to check out www.tempofunding.com.
CONNECTING WITH THE GUEST
Website https://www.inkosiwealth.com/
LinkedIn: https://www.linkedin.com/in/salenakulkarni/
Instagram: https://www.instagram.com/kulkarnisalena/
Youtube: https://www.youtube.com/channel/UCNAlOIgjnz9tIMAlOPwNXYA
Facebook: https://www.facebook.com/iamSalenaKulkarni/
Linktree: https://linktr.ee/salenakulkarni
X: https://x.com/salena_kulkarni?lang=en
Full Transcript:
Intro: Welcome to The BigMikeFund Podcast, where you’ll learn about advanced wealth building strategies from real estate investing to creating massive ROI and secure retirement profits. So pour yourself a cup of coffee, grab a notepad, and lean in. Because Big Mike has got the mic, starting now.
Mike Zlotnik: Welcome to the BigMikeFund Podcast. I’m the Big Mike, Mike Zlotnik, and today it is my pleasure and a privilege to welcome back my really good friend, Salena Kulkarni. If I’m saying it correctly, Salena, you have such a wonderful name.
Salena Kulkarni: Thanks, Mike. It’s great to be here.
Mike Zlotnik: Thanks for coming back. And you hail from the land down under, right? For the U. S. audience. And how is Australia doing? What’s, what, what, let’s just start with you. What’s, what, what’s new in the world of Selena? And then we’ll go back to the Australian experience. And you talked about K shaped recovery. And we would love to hear what does that mean?
Salena Kulkarni: Yeah, look it’s, it’s been an interesting couple of years for Australia, New Zealand, in terms of you know, we’ve experienced very similar economic conditions to you guys.
There was a lot of money floating in the economy. There was a lot of spending inflation got out of control. And now there’s the repercussion of you know, our central bank trying to, you know, put that in a, in a box by hiking up interest rates. And unfortunately, a lot of the data out there right now is highlighting this is hurting the most vulnerable people.
You know, Australia is a country which, you know, we’ve talked about like Canada, it’s quite socialist in its outlook. And what that means is it’s very different to communism. I’d like to add, it’s, it’s more about just, there’s a lot of people who fall into, I would say vulnerable and require a safety net.
So, The socialist model is really about trying to make sure that people don’t fall through the, the safety net. And so they’re the people that are hurting the most right now, though. And, you know, in reference to what I’m doing, I continue to support high net worth investors who are seeking to really kind of travel through this turbulent time protect what they have, make sure they make really great decisions about their money and wealth.
And at the other end of the spectrum, I’ve recently started working with young Gen Z investors who are just entering the workforce, who are feeling a sense of hopelessness. That are wondering even in highly paid professions, how they will, you know, create wealth in today’s world. So that’s kind of my new focus as well as helping people at, at either end of the spectrums just, and in essence, you know, it’s all about helping them just have a great relationship with money.
That’s, that’s really what it’s about.
Mike Zlotnik: Well, I appreciate the mission, right? And you could help both sides of the spectrum. Kind of the folks that have achieved financial freedom and they just need to convert their wealth into some passive income, right? That’s the basic concept. And then the new generation, I’ve heard that that challenge it exists obviously here too.
The new generations just don’t know how to save. They don’t know how to invest. Even my kids are asking once they start making money, what do I do? What do I invest in? And so it’s been. It’s an important journey. It’s an important mission. So thank you for Trying to make a difference in their lives and helping them and that’s I think that’s that’s a great mission.
Have a better relationship with your money, right? That’s It’s hilarious. People don’t think of of money having relationship with your money But I guess it’s an important element to have a relationship with money. So what is a k recovery? What does it mean? Just just just To touch, touch a little bit and socialism, a socialistic structure as a safety net, as you said, Canada, I’m a little bit familiar with what Canada economy looks like maybe social medicine some kind of I guess socialized education system where folks would, no matter where they come from, they have access to good healthcare, they have access to good education and some safety nets, all that.
To me, this is not socialism. I grew up in the Soviet Union. Socialism meant something very, very, very different.
Salena Kulkarni: Yeah. Yeah.
Mike Zlotnik: It was, I don’t know how to describe it, but it was more, more of a, no incentives to work. You get paid same amount of money no matter what you do and all this free medicine and everything else that you’re supposed to get was just terrible over there.
So the, the social socialism in the former Soviet Union It was poverty for all and God forbid anybody gets well off or successful and they pull them down. That, that was socialism then. And as, as you, the way you’re describing it, it’s a, it’s a capitalism with a social safety net. So it’s not socialism the way I think of socialism.
So I appreciate that clarification. Now let’s talk about K recovery. So what does K recovery mean? What does letter K stand for here?
Salena Kulkarni: So, I mean, K is a reference to the shape really, but you know, I would say pre COVID, in every society, there’s always the, the ultra wealthy and the people who are, you know, really, you know, just scraping by.
And what happened or what has evolved in Australia is, I would say the, the median average experience was very close to the middle. So we had a very large middle class. Now, over the last half a century or so, things like real estate investing have become the vehicle to take people out of lower to, you know, middle class and really elevate them to the ultra wealthy.
And so what’s happened particularly with COVID, I, I’ve, I’ve noticed it less with other recessions or, you know, volatility in the past, but because of the additional flow of money and the insane growth. volatility That many of our assets, real estate, obviously share markets doing pretty well as well over the last couple of years have had what’s happened is those who already held assets pre COVID have just catapulted their net worth.
The success that they’ve had with their wealth has just grown exponentially in a very short space of time. And the alternative is that those who had no assets. have really gone on a very downward trajectory in an even bigger way. So to some degree, the commentary that I’ve heard here in Australia and New Zealand is that, you know, the wealthy have become even more wealthy and the poor relatively have become even more poor.
Hence the reference for a K shaped recovery. Now, this is a paradigm that’s fairly normal in the States. But for that kind of conversation to be had in Australia and New Zealand, which has a a sense of, you know, like social responsibility around making sure people at least can put food on the table and get access to, to healthcare.
This is sparking a fairly upset and aggressive response from some people that, you know, the well, and it’s, it’s obviously everybody wants to be successful, but this K shaped recovery that’s been discussed in the last couple of years Has put us in a very similar position in some ways to what’s happened in the U.S.
Mike Zlotnik: I appreciate that explanation. Now I understand what came in. It’s uneven and we were just chatting before the podcast that the effect of the higher interest rates. I’ve had disproportional effects on different parts of the, um, economy or, or, or society. The those with significant wealth are earning much high interest rate on their savings the money that they have in the bank or what they’re earning on bonds or whatnot.
And those folks that like you said, the lower part of the middle class or the working poor they don’t have the savings. And the high interest rates, in fact, costing them more money in the form of interest on credit cards and loans. So and by the way, this is a, we discussed this right before the recording, that with high interest rates as a way to fight inflation, the side effect of that is higher income on savings, but the savings are concentrated in the hands of the wealthy folks without taking any political position.
And I’ll be the first. To say that I am not a socialist, and I mean this in the Soviet Union sense. I’m pro capitalist, because I know when the government spends a lot of money, by the way, one of the reasons you kind of alluded to, what did the government do in response to COVID? The only thing they could do, and politicians love it, they love spending sport, they spend a ton of money, they spend it, And society, the way it functions, the majority of that money winds up in the hands of the few and then the poor wind up spending it.
And even though they got a little bit of a safety net for some amount of time, that money is gone while the wealth has been accumulated. This is a key in recovering the hands of the, of the few wealthy ones. So my question is really this experience and then now the fed in the U S and central bank in Australia is trying to fight inflation with high interest rates, but the fighting resistance the higher rates creating dollars, additional income in the, in the hands of those who have money saved or the checking account on money markets CDs, and they’re earning more and they’re spending more in the, the spending power.
Continues to fight the inflation pressure. So, well, I guess what the question, my question is from your kind of world, the folks you’re working with what’s their view on the world? What are they, what are they seeing? You’re working with high net worth folks, so they’re looking to invest in the U. S. And then you’re working with young generation that feel a little bit of hopelessness. So what, what would you like to see? What, what changes would you like to see and, and giving away money. The problem is it never works. This, this, this is, this is my worry. Every time the government wants to spend more.
They wind up disproportionately benefiting elite classes, elite folks and they and then they hurt, they still hurt the masses. It’s kind of, it’s not for the benefit of the masses, but the system doesn’t seem to work well. So I don’t know. I’m not just, I know we’re off the tangent and we’re trying to figure out where we take this conversation.
Yeah. I just love to hear your thoughts on what changes should we make. And then real estate has been a great wealth builder. And I, I speculate there’s going to be some reversion to the mean, and I don’t know how it is in Australia, in the U. S., there’s some reversion in the mean, in the commercial real estate, I don’t know if our Australian commercial real estate is experiencing any of the challenges U.S. real estate is experiencing.
Salena Kulkarni: Absolutely. Look, I, I know you and I, Mike have had some deeply philosophical discussions over the years about, you know, what’s happening, and, and my, I guess commentary and, and thread of, or theme that runs through a lot of my content right now to my high net worth investors is that this is a time, this is a point in history, which is very interesting where there’s high degree of uncertainty and a fundamental return to foundational principles is essential.
I feel that the, the ripple effects of the post COVID world, even though we’ve had these massive hikes in interest rate. are still to be felt. I think there’s going to be a lot of pain in the pipeline that has to come through for things to, you know, it’s the pendulum swinging the other way, right?
You know, there’s, there’s got to be some pain for all of the, the growth, the, you know, the longest bull run for over a hundred years type thing. And so where I’m directing the attention of people in my community. Is back to fundamentals. You know, this is a time to be very careful about where our money is, where the money flows.
Emphasizing the importance of stewardship really looking hard at deals and investments that our money is locked up in, and asking some good questions about what does the future likely hold. I think in many cases there are those of us that invested into what was otherwise great deals over the last, you know, five, 10 years, which are going to hit troubled times.
I’m personally you know, I, I shared a little bit at my last event about Warren Buffett and Warren Buffett’s you know, first rule, don’t lose the capital, rule number two, refer to rule number one. That is a quote that is shared ad nauseum. Like it’s shared over and over and over. But one of the things that people don’t recognize is that Warren Buffett’s had some serious financial losses along the way, some big losses in in the global financial crisis, there was you know, a series of deals that resulted in a 25 billion loss for him.
The problem is nobody talks about the losses. He’s had dozens of losses along the way. And so, you know, if Warren Buffett loses and he’s edified as the best investor in the world, and a lot of people worship at the, at the feet of Warren Buffett, I’ve heard that expression a little bit. I think we all have to recognize that there’s going to be.
Some investors that take a bit of a haircut in the next 12 months. And so the best preparation you can have for this period of uncertainty is an additional caution. You know, a return to stewardship, a reference to you know, expectations. We, we spent a lot of time at one of my events earlier this year talking about if you like a manifesto, like what are some guiding principles that we should be thinking about in order to, you know, basically as investors navigate volatility, uncertainty and loss.
And, you know, these are the sorts of concepts that I think people need to really be thinking about. So I know we’re meandering here, aren’t we?
Mike Zlotnik: Well, there’s some great wisdoms, and we’ll just, I’ll add some commentary in one. Rule number one, don’t lose money. Rule number two, refer to rule number one any time.
There is some truth to this. This is what makes people comfortable. If you can just avoid losses, you will do well. Unfortunately, it doesn’t always work like, or, work like this. And a few things that I’ve learned is Michael Jordan missed 9, 000 shots, right? If he Didn’t miss 9, 000 shots. He wouldn’t be Michael Jordan.
Right. So, and at the end of the day most even strong teams they lose enough games and certain sports if you have in us baseball, there’s 162 games in a season and a team that wins 90, 90 out of 162, which is not a ridiculously good percentage, but often makes the playoffs. And some of the best teams wind up in the nineties.
And if you, you know, go over a hundred. You win 60 some percent of your games and you lose 40 you’re considered to be one of the elite, super elite teams. So depending on how you look at it, the last thing is really. About diversification, spreading the risk among enough investments and risk diversifying over time and having enough winners that cover for the losers, but losers will happen.
And you know, I go back and I’ve had this discussion with a few folks over the last few weeks. And one thing that people miss in real estate. They, and they miss the fact that it trades on leverage. So, when times are good, leverage magnifies returns, and you get used to super strong returns during the periods of good let’s just call it bull run or optimistic.
We were in that bull run since great financial crisis. So 2008, 2009, after that, we’ve been in this long extended bull market and COVID was sort of a blimp. And then the government spent all the money and then even accelerated the appreciation. And then it broke hard. And when it broke hard, it’s the most difficult thing for, for, for everyone, including, including me, because we got all used to addicted to this low interest rate environment and everything going well.
And when it broke, it broke hard. It broke hard because of leverage. A lot of real estate deals going to feel like the next. You know, 23, 24 at least so far, it’s been a period of significant correction and losses. And we talked about exactly what you said, investors need to learn and be prepared for losses.
If you’re not prepared for losses, you have no business investing. And honestly, there’s no better way to put it. As uncomfortable as the statement is. It’s a suitability. That’s the suitability. Psychological suitability is just as important as ability to take a loss on an investment. The other thing that I wanted to bring up, and I’d just love to hear your thoughts.
Stock market is up, Bitcoin is up, and I had discussions with people and people are feeling like the game, like, like the game stock and they’re feeling Bitcoin is going, you know, to the moon and all that stuff. And it’s a cult, some people, they really think of this as a, you know, And I’m not bashing Bitcoin, I’m not bashing stock market.
All I’m trying to say is, anything you invested into, it had a good run. You gotta consider taking some chips off the table, and moving it into the beaten up asset classes, like real estate, commercial real estate, that feels like it’s gone through significant correction. And the opportunity The great opportunity, and this is back to the Warren Buffett, be fearful when others are greedy, be greedy when others are fearful.
The fear factor in commercial real estate is high. That’s the time when the capital needs to flow in because the opportunity relative, on a relative basis, is much, much deeper there versus appreciated asset classes that continue, have had a great bull run. And I don’t know what the future holds. It’s very possible for Bitcoin to continue its crazy run.
It’s very possible that the stock market will continue to keep marching forward. regardless of some of the fundamental data, but it’s something that it can happen at the same time. All I’m just saying is folks should consider diversification. Diversification in time is very important consideration.
And I know you’re educating folks but the time to think about this is now when you go through significant correction and lessons learned, you learn a lot more from mistakes than you learn from successes. And, uh, now I believe a lot more into most fundamental basic rules of diversification because a lot of people, unfortunately, were not properly diversified, and that’s why they’re feeling the pain.
And if you were properly diversified, you’re taking a little bit of pain in. Real estate, and you make it up on, in stocks, you actually have the ability to sell some of those investments and move the money back in real estate when real estate is cheap. That’s just sort of my thinking. I don’t know. What do you think?
Salena Kulkarni: I think human nature is, and this is something I an old mentor of mine shared with me is that human beings are meaning making machines. And so what that means is things that happen to us, we make it mean things. So when it comes to loss. If we experience a loss, it’s natural to make it mean that, oh, we must be bad.
We made a bad decision. And if we win, like as people are winning with Bitcoin and the share market right now, we make it mean that, oh, we must be really good at investing. And I think that that’s a very simplistic view of you know, and what we, the, the ultimate journey of an investor is really to detach from those things and focus on fundamentals.
I think if I look at the data that’s out there right now and, you know, are we technically in a recession? Are we not technically in a recession? These sorts of things, it’s almost irrelevant because the data is telling us. That there’s, there’s pain, there’s blood in the water right now. Whether or not you’re thinking about investing in Bitcoin or the share market we need to be hyper vigilant right now.
I think, you know, the, the truth of the matter is I think investors. have not yet experienced, as I said, the full ripple effect of what’s happened in recent years. And I think it’s still coming through. And I think there’s a lot of people who have been lulled into a false sense of everything will be okay.
Maybe it will, maybe it won’t. But I think there’s, you know, There are fundamental pieces of data that give us a glimpse of what’s really going on. And I think we’ve got to stay mindful of that rather than waiting for some, like I know in the States, for example, there’s a central body that will announce when there is a recession officially.
A lot of other countries don’t have that. And I know, for example, in my country, in New Zealand it’s a very loose and arbitrary decision to say we’re in recession. They, you know, they call a technical recession to negative quarters of, of GDP. But in the past, if you look past the recession, sometimes it has followed that definition strictly.
Sometimes it hasn’t. But I think the most important thing to be thinking about is you know, the, the living standards have dropped. To a degree more than the last 50 years right now unemployment is starting to climb you know, there’s, there’s no such thing as an official recession and it’s almost an irrelevant term for the purpose of, of being a great investor.
But what I mean, there’s so much gold in what you said, I think this is a period of time where it’s really important for investors to get clarity on what happens now, not to make it mean something about their abilities as an investor. You know, if they’ve made hasty decisions, if they’ve invested in deals that go south the deals could be perfectly good deals.
The deal operators could be great operators. There are great companies on the share market, but it’s, it’s often emotion and sentiment that drives a lot of what happens in the share market. And in, and as you’ve already said, in real estate, there are a number of things that drive what happens. I think the reality is you should only invest in what you understand, and you should only invest in what you can sleep at night comfortably with.
So it’s, it’s easy for people like you and I to say, well, the opportunity is there now for people to move their money back into certain sectors of real estate or whatever. But, you know, people have to be prepared to set aside their, you know, cognitive biases that may color their judgment and, and really just come back to fundamentals of have, do I understand this deal?
Does it make good sense? Is it a good deal operator? You know, do I feel comfortable with my diversification? One thing we should talk about, Mike, is the new book that’s been published by Anthony Robbins. I don’t know if you’ve if you’ve come across that as yet, but he’s, he’s advocating that he’s found the holy grail of investing and having, having looked at it, essentially what he’s doing is he’s you know, publicizing his own fund which. You know, in essence,
Mike Zlotnik: I already don’t like, I already don’t like where this is going. So Tony Robbins is a, is a, you know, so he’s a celebrity of, of, to the Nth degree. And if he’s launched a fund and he’s softly marketing his fund now, listen, we all write books and our own books, they, they, we, we, we, we softly promote our own funds.
So no, no, no argument on that front. But there is no holy, holy grail of investing. Investing is really a a, is a very, it’s a journey. It’s really, there’s no best way to describe it. It’s an ongoing, continuous journey, evolving journey. And as you said, As folks go through different stages of life, their investment journey changes.
They may be open to take more risk early in their life and career. And then they get more conservative later, later part of their career. And conservative investing. Philosophy is becoming more and more important when things go through corrections. So when, when, when the markets are hot and good people writing check following momentum investing play and they can continue to get strong returns, it’s very easy to get lost in that journey and then forget the basic fundamental conservative philosophy.
So I think what you’re saying is get back to the fundamental principles of investing, right? And back to Warren Buffett, don’t lose money, which really what it means is safety first. So understand what you invest in, understand what downside protection you have. And you also talked about something very, very important.
I really love the concept, and the more I think about it, it just comes back to me. It’s called asymmetric risk. So you, you talked about investing in, in every investment has risk. And if you think it’s got no risk, you’re either delusional or it’s a Ponzi scheme type of situation. So every investment has risk because it has risk comes down to what’s your upside relative to your downside.
That’s the asymmetric risk. And that thinking is, by the way, very applicable to pretty much every investment decision. And all I’m saying. Is that the asymmetric risk dynamics are changing what was high risk, let’s call it uncertain reward last couple of years in commercial real estate when interest rates were super low.
Now we’ve got almost the reverse because the market shifted so fast into the opposite that the asymmetric risk is improving. In certain sectors and strategies, while it’s getting worse in other ones. That’s, that’s, that’s one of the messages that I, I kind of have. And then as far as yeah, Tony Robbins, I haven’t read the book, so I can’t say anything.
I’m not saying anything negative at all about Tony. Tony is certainly brilliant inspirational and he’s changed many lives. So whatever he says, let people enjoy it. I’ll probably get the book. I’ll read the book more, more like listen to the book as I do on my, my daily walks and, um, yeah. So what are your thoughts on the asymmetric risk?
And kind of what are you teaching to your folks today? Yeah, back to the basics, big, big, big, back to the fundamental investing. But I do feel that. We got to get back to risk reward analysis and really think about that other than pure safety. Because one of the things that I’ll tell you this, is it a Jackie or a horse?
Whenever you write a check, is it, who is more important? You, you’re writing the check with the operator, with the with the sponsor, the fund manager, or you’re writing a check into a specific fund strategy or specific asset or assets. It’s a final question and the answer, and the answer is it depends.
There’s no right or wrong answer. What are your quick thoughts, and I know we’re running out of time, so I want to make sure we are get your final thoughts. Is it the Jackie has a horse or, or, or asymmetric risk? And we’ll we’ll have to bring this episode to a close.
Salena Kulkarni: Well, I think I think you’ve definitely hit the nail on the head with this idea of asymmetric risk. Everybody loves the idea of outsized returns. Especially when, when the market is really stable and, and growing, everybody wants outsized returns and the reality, if I observe what people have done with their money in recent years, it’s they have. Often chased yield because there was a sense of, you know, what could go wrong.
I would prefer to lean into a deal. That’s going to give me a, you know, a double digit return versus a single digit return, because why not? Like that, that was the main criteria for investing and what I’ve witnessed in the last probably 12 to 18 months. As interest rates have, you know, gone crazy and there’s a lot of deals falling over, there’s a lot of people losing capital, and I still think that’s kind of rolling through, as I said, but what we’re seeing now is a run to safety.
Right. Like people are saying, I’d rather take a more modest return and know that my capital is safe and that it is at least keeping pace with inflation versus trying to chase down a, a really great return where potentially the, the risk of loss of capital is high. And, you know, I think one of the philosophies that I have about this in general is.
You know, you’ve got to come back to, and I keep saying first principles, but I ran a, an event a week or so ago, and the theme of that event was a few, a few good moves. And the essence of the idea and the thinking is that to grow significant wealth, to maintain significant wealth, it doesn’t require high frequency and high velocity of your capital at all times.
What it actually requires is for you to make strategic considered decisions about where you put your money. And what I’ve witnessed on many occasions is that the more runway you have, The easier it is to execute and get a, you know, a really great result by the time you, you reach, let’s call it retirement, even though I don’t like that word like retirement, but what I’ve seen is that where people have a very short runway to retirement, there’s a recognition that they haven’t done enough.
Or that maybe they haven’t made the right moves. And so there’s this manic rush to just kind of try and make up for lost time. And I guess what I’m encouraging people is regardless of where they are on their journey, a revision to this idea of what is the minimum viable amount of capital I need to get the result that I want in the fewest number of moves.
And the metaphor that I used for that was and you’ll appreciate this is, and in fact, I kind of referenced you in a way is the chess master, you know, chess is that fabulous game where, you know, there are people out there who can get you in checkmate in two moves. And then there’s people who like me kind of wait for mistakes from the opponent or some flash of brilliance to kind of ratchet their way ahead.
And you know, I think it’s a great metaphor for life and investing is you know, it’s, it has infinite number of moves, but the, the chess master is looking for how do I get to checkmate or get to the outcome I want in the fewest number of moves. Thanks. And I think that’s a great philosophy for investors as well.
Mike Zlotnik: So I appreciate your wisdom. Don’t get me started. We could talk about chess for hours and I’ll certainly agree that pursuing a fast win strategy in chess often backfires like the same, the same is true in investing. So if you originally trying to make up for time and you’re going after the investments with the biggest potential rate of return, of course you’re probably taking too much risk.
Bye. Bye. And if the timing is wrong or, or something is just doesn’t work, you could actually lose more than you, you gain if you just get too aggressive in your investing and truly understanding the risk reward every investment is the most important fundamental skill. I, I, I will just finish the conversation this way.
It’s not about the speed getting there. It’s about understanding what you invest in and what the risk is. So it’s not about the reward upside. It’s about risk adjusted return. And this is a funny, complex. Sophisticated term, risk adjusted return is what ultimately determines whether your investing works or it doesn’t.
And the other important element you mentioned some folks don’t need to maximize their risk adjusted return. If they’re comfortable minimizing risk, that’s the right strategy for them. So it’s different. It’s different for different people. Appreciate your wisdom. I appreciate you sharing how the folks get ahold of you.
I say that almost on every episode. Unfortunately, good things must come to an end, so does this episode. How would folks reach out to Selina to learn from her wisdom or like to have a further discussion?
Salena Kulkarni: You can find me on all the socials, so yeah, any of the platforms, LinkedIn, Facebook.
Mike Zlotnik: Selena. Thank you so much for coming on a podcast. And until we chat next time, always great to have you and always great to share some wisdom with you.
Salena Kulkarni: Love our conversations, Mike. Thanks for having me.
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