My guest today is Cristina Espinal. She was born in Venezuela, lived in the US and Asia, made the UK her home, and joined me from Madrid today.

After a successful first career, she decided to pivot, follow, and trust her curiosity.

She helps ambitious mid-career professionals gain the clarity and confidence to secure bigger, more aligned roles and turn their uniqueness into a side business. Her Play Big newsletter is a fascinating read—all links are in the notes below.

She has a great passion for the work she does and shares many inspiring stories. I learned a lot and enjoyed this discussion very much—I trust you will, too.

My dear friend Matt Zeigler had something to do with connecting us—thank you, Matt. You are one of Talking Billions' patron saints, but you know it already. If you are not following Matt, you should—look up his Cultish Creative blog, Just Press Record, and the Intentional Investor Podcast—both are phenomenal, and I’m not just saying that—I read, watch, and listen to all three.

Please help me welcome Cristina Espinal!

Takeaways:

Self-reflection and understanding our stories and beliefs are crucial for personal growth. There are multiple paths to making a difference, and it's important to define success on your own terms. Playing big means uncovering who you are and challenging the default path. Expanders, people who inspire, challenge, support, and are vulnerable, can help us grow and achieve our goals. Stress addiction is a societal issue that keeps individuals in a constant state of chronic stress. Defining success based on personal values and having an inner scorecard leads to fulfillment. Rejection can be seen as a redirection towards a more aligned path. Rejection can lead to new opportunities and a more aligned path. Confidence is a skill that can be developed through taking small steps outside of one's comfort zone. Trust is built through vulnerability and the willingness to make oneself important to someone else. Asking better questions involves being present, leading with curiosity and compassion, and considering the context. Infinite games are those that bring joy and fulfillment, and they should be prioritized in life.

https://playbig.beehiiv.com/

https://www.linkedin.com/in/cristinaespinal/

https://www.linkedin.com/posts/cristinaespinal_in-june-2020-my-career-hit-a-wall-i-was-activity-7171852818574745600-RqCG

Podcast Program – Disclosure Statement

Blue Infinitas Capital, LLC is a registered investment adviser and the opinions expressed by the Firm’s employees and podcast guests on this show are their own and do not reflect the opinions of Blue Infinitas Capital, LLC. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice.

Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed.

Information expressed does not take into account your specific situation or objectives, and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance.

A fascinating, wide-ranging discussion.

John Candeto is the Founder and Managing Partner of the Phronesis Fund. Co-Founder of JoinWDA (Workforce Data Alliance).

Tom Morgan connected us. We met at Markel’s meeting in Richmond earlier this year. I’ve been looking forward to this conversation, and you will see in a moment why.

John applies the study of Complexity to investing, and he is open to discussing it with others, please feel free to reach out to him.

Takeaways:

• Survival is a crucial aspect of investing.

• Exposing oneself to power law outcomes is essential for wise wealth growth.

• Volatility is not the same as risk; risk involves the potential for permanent loss of capital.

• Traditional statistics and averages have limitations in understanding complex systems and long-term investing.

• Taking a long-term view in investing allows for a different perspective and reduces the focus on short-term fluctuations.

• Power laws are prevalent in various aspects of life, such as economic output and company size.

• Living by a set of values helps prioritize and make intentional choices.

• Learning in public and engaging in feedback loops accelerates personal growth and understanding.

• Asking the right questions is essential in navigating complex issues and finding valuable insights.

• Writing family stories can help reflect on values and create a sense of gratitude.

• Balancing structure and serendipity is important for productivity and creativity.

Here are some resources that could help with your prep:

JohnCandeto.com (links to everything)

HowWeWantToLive.com (family values and journey)

Partnership Letters

Power Laws Rule the World

Partnership Summary

Podcast Program – Disclosure Statement

Blue Infinitas Capital, LLC is a registered investment adviser and the opinions expressed by the Firm’s employees and podcast guests on this show are their own and do not reflect the opinions of Blue Infinitas Capital, LLC. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice.

Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed.

Information expressed does not take into account your specific situation or objectives, and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance.

RP Stevens is the author of The Sloth Investor book, the host of a podcast, and a YouTube channel with the same name. He is a personal finance author & YouTuber. He is committed to educating people about how to invest their money in a common-sense, ‘sloth-like’ manner.

RP firmly believes that the slow-moving, inactive sloth is THE best animal to characterize successful investing.

After we stopped recording, he shared with me how he received a personal note from his proofreader who read the book — instead of a harsh feedback that he feared, he learned the she never thought investing is for her, and now she wants to become an investor herself — to me it’s the best testament to what this book can do for many listeners curious to embrace investing as a lifelong pursuit.

It was a late night recording for RP, early morning for me, we kept talking long after I hit stop — I greatly enjoyed this conversation, and I hope you do, too.

https://slothinvestor.co.uk/

Takeaways

• Investing requires a long-term mindset and patience.

• Minimizing regrets is a key factor in investment decisions.

• Investing should be viewed as business ownership.

• The 'Sloth Investor' philosophy promotes a less is more approach.

• Financial literacy is essential for overcoming psychological barriers to investing.

• Time in the market is more important than timing the market.

• Investing should continue even after retirement.

• The idea of 'forgotten money' emphasizes long-term investment strategies. The stock market's returns can vary significantly year to year.

• Volatility can create both discomfort and buying opportunities.

• Investing consistently is crucial, regardless of market conditions.

• Loss aversion can impact how investors perceive their portfolios.

• Success is defined by how we treat others and stay true to ourselves.

• The importance of lifelong learning and curiosity in investing.

Podcast Program – Disclosure Statement

Blue Infinitas Capital, LLC is a registered investment adviser and the opinions expressed by the Firm’s employees and podcast guests on this show are their own and do not reflect the opinions of Blue Infinitas Capital, LLC. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice.

Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed.

Information expressed does not take into account your specific situation or objectives, and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance.