Up next in 10
Shark Tank’s Kevin O’Leary Drops Some Financial Gems and New Show ‘Money Court’ | SWAY’S UNIVERSE
Aug 14, 2021
Kevin O'Leary delivers financial justice as he oversees financial disputes with veteran trial attorney Katie Phang and former Judge Ada Pozo. O’Leary called into Sway In The Morning to talk about the show and give some financial tips.
Subscribe Here! http://bit.ly/SubscribeSU
Watch the Best of Sway In The Morning! http://bit.ly/BestOfSITM
Check out More From Sway’s Universe
http://swaysuniverse.com
http://twitter.com/swaysuniverse
http://instagram.com/swaysuniverse
http://facebook.com/swaysuniverse
#KevinOleary #MoneyCourt #SwaysUniverse #SwayInTheMorning #SiriusXM #Shade45
About SWAY’s UNIVERSE
Exclusive interviews from Sway Calloway and the Sway In The Morning/ SwaysUniverse.com team with some of today's biggest celebrities, like Kevin Hart, Kanye West, Eminem, Usher, Jessica Alba, Steve Aoki, Torey Lanez, Julia Stiles and so much more.
[Video Title] | SWAY’S UNIVERSE https://youtu.be/HOtQLNxZOMc
Sway’s Universe
Show More Show Less View Video Transcript
0:00
ladies and gentlemen come on man that
0:02
that right there got me excited as it is
0:04
db i want you to introduce our guests
0:06
today can you do it please db
0:09
sure citizens we've had several of the
0:11
shark tank hosts on our show from mark
0:13
cuban to our good friend damon john our
0:15
guest today learned about investing in
0:17
finances from an early age and his
0:18
mother was also a savvy investor herself
0:21
so to all of our younger listeners you
0:22
can learn a lot from your parents and
0:24
this is a guy who can teach you about
0:25
the do's and don'ts when you get some
0:27
money he's here today to talk about the
0:29
new show money corps premiering tomorrow
0:31
at 10 p.m eastern on cnbc please welcome
0:34
kevin o'leary
0:36
kevin
0:38
thank you thank you that's very kind i
0:40
appreciate it absolutely man
0:43
this is sway i'm sway uh we got heather
0:46
b
0:46
what's up kevin and we got tracy
0:49
hey kevin good to hear your voice thank
0:52
you just like you are on money court i'm
0:54
on sway in the morning i'm surrounded by
0:56
two very powerful women kev
0:59
yeah that can be a problem sometimes no
1:01
questions
1:02
wow
1:03
[Music]
1:04
welcome to the show man uh damon john is
1:07
a good friend of mine i i did the um his
1:10
i read his audio books the um i do the
1:12
audio for his audiobooks of the past
1:14
three books that he's done
1:16
and uh i've known him for years through
1:17
the culture and what he started with
1:19
fubu and then begin to grow and grow and
1:21
grow and and then you guys collaborated
1:24
on shark tank um i want to start
1:27
first of all congratulations on money
1:29
court can you tell us about money court
1:32
real quick
1:33
you know what's happened because of the
1:35
pandemic all across america is all the
1:37
courts are jammed up because a lot of
1:39
trials never happened courts were closed
1:42
now we've got tens of thousands of cases
1:43
piled up like a log jam and the trouble
1:46
with a money dispute in a business if
1:48
you don't resolve it
1:50
that's what happens so they don't want
1:51
to wait to go to trial they want
1:53
arbitration and that's really what money
1:54
court's about people are letting me make
1:56
a decision
1:57
on how to solve a problem between two
2:00
litigants and so they signed a contract
2:02
to come in and i look at the case i
2:04
listen to ad i listen to katie because
2:06
they're great on the law but i try and
2:07
decide how to solve this thing to keep
2:09
the business alive or keep the value
2:11
there so it gets pretty complicated
2:14
sometimes because money can tear people
2:16
apart it can tear families apart it can
2:18
tear you know siblings apart mothers and
2:21
daughters suing each other there's some
2:22
crazy stuff going on out there yeah can
2:25
you can you speak to that kevin uh
2:27
because it's always been said you
2:29
shouldn't do business with family or
2:31
friends for this reason
2:33
what are your thoughts about that how
2:34
can you do business with family and
2:36
friends successfully what what steps
2:38
should you take from from the from the
2:40
beginning
2:42
well in america 65 percent of new jobs
2:44
are created by small businesses and the
2:46
majority of those are family businesses
2:49
they were started by families
2:51
now you know that a lot of them are very
2:52
successful hundreds of millions in sales
2:55
but the trouble with families is there's
2:57
always attention you know you've got the
2:59
business itself which you're trying to
3:01
solve for in a business you've got
3:02
customers you've got employees you got
3:04
bank loans you got equity holders and
3:05
all that and then you've got sibling
3:08
rivalries maybe the uncle and the ant
3:10
don't get along or whatever and so it
3:12
just festers because you know you go
3:14
back to thanksgiving dinner and you're
3:16
yelling at each other about a business
3:18
it's kind of crazy but at the end of the
3:20
day you have to live with it now what
3:23
happens when you can't resolve it
3:25
particularly between family members they
3:27
hire lawyers and they sue each other and
3:30
it gets really nasty because that's
3:33
where all of a sudden it's not just
3:35
about the money it's about the family
3:37
being torn to pieces and we have lots of
3:39
those cases on money court it just
3:40
breaks your heart i mean it's really
3:42
hard to watch a mother sue her daughter
3:45
i mean come on who does that yeah got
3:47
lots of cases like that
3:49
hmm that's interesting one of the things
3:52
that i appreciate about your story and
3:53
d.b mentioned that your mother you found
3:55
out i think passed once he passed away
3:58
how shrewd of an invest investor she was
4:00
based on her investment portfolio and i
4:03
read that she also remarried someone who
4:05
was an economist so from your early age
4:08
you were exposed to conversation about
4:11
finances how how prevalent was that how
4:14
prevalent was
4:15
it for your parents and your stepfather
4:17
to really educate you on how money works
4:20
and what age did that begin
4:23
it should start at the very early age of
4:25
seven years old and that's what i did
4:26
with my kids that's what my mother
4:28
taught me you know she when she died i
4:30
got a call from the
4:31
estate attorney and said you got to come
4:33
down here you're the older brother and
4:35
your mother's died a really wealthy
4:37
woman i went what like we were middle
4:40
class family so what she'd done from an
4:42
early age in 18 years she took 20
4:45
percent of her paycheck 20 percent and
4:48
stuck it in
4:50
telco bonds like bonds from telco
4:52
companies or those days are paying six
4:54
or seven percent and the rest in s p
4:56
dividend-paying stocks and she had that
4:58
portfolio she had it you know she kept
5:00
it secret from both her husband she
5:01
could do it back in those days
5:03
and that thing
5:05
over the years over 50 years
5:07
she beat every market analyst and
5:09
everybody else she wasn't even a
5:10
portfolio manager she just really
5:12
believed in getting paid to wait she
5:14
wanted things that paid her interest or
5:16
paid her dividends i always wondered why
5:18
she could afford to help everybody in
5:20
her family including my brother and i
5:22
get through college and i thought
5:24
where's she getting all this dough from
5:26
and then i found out and that really
5:28
changed my mind about everything so i
5:30
always take a little piece of whatever i
5:32
make and put it aside and invest it and
5:34
only spend the interest or dividends it
5:36
really works i mean she was the master
5:38
of it only stand the interest or the
5:40
dividend see now he's dropping gems i'm
5:42
gonna ask you this and i'm gonna let uh
5:44
heather and tracy jump in that
5:46
conversation y'all had at seven and i'm
5:48
gonna uh
5:49
start talking about my community the
5:51
black community that i grew up in
5:53
um i started having financial
5:55
conversations
5:57
with my grandmother probably in junior
5:59
high
6:00
uh but you know in elementary we were in
6:02
little odd and in jobs like we'll cut
6:04
your line for ten dollars so on and so
6:06
forth learned how to save a little bit a
6:08
lot of folks weren't having that
6:09
conversation in uh in our community that
6:12
early on right which i think we're
6:14
starting to see better now
6:18
as a businessman when you talk about the
6:20
black community and is spending power
6:23
you know
6:24
in this country compared to other
6:26
communities how powerful is it how much
6:28
influence does it has the black dollar
6:31
in driving our economy in this country
6:34
it's huge and any business that ignores
6:36
it is missing out on 20 25 percent of
6:38
the market right there it's crazy you
6:40
got to make sure that your product fits
6:43
everybody i mean the whole idea that you
6:46
know you can target a market
6:48
or target an age and get it right is
6:50
impossible i mean black communities
6:52
dollar gets more powerful every every
6:54
year everybody knows that and when you
6:56
start to see products like on shark tank
6:58
and everything else that is specifically
6:59
designed for the black community they're
7:01
wildly successful because that community
7:03
wants to support
7:05
its own entrepreneurs so it's a great
7:07
idea and you start to see it now there's
7:09
mandates like walmart and target and
7:11
other large companies are saying we want
7:14
15 to 20 percent of everything we're
7:16
doing and bringing in product coming
7:18
from black entrepreneurs that's pretty
7:20
cool that is a very good mandate makes a
7:23
lot of sense because it matches the
7:24
market
7:26
um kevin o'leary is here but he's been
7:28
you want to jump in yeah hi kevin it's
7:30
heather again i have a question about
7:34
marriage and relationships and money how
7:37
important was it for you to marry
7:39
someone or be on the lookout for someone
7:42
who was financially responsible you
7:44
having that education so young
7:47
well let me give you some data i wrote a
7:49
book years ago and i've written three of
7:51
them now the first one was called men
7:52
women and money and i hired some
7:54
researchers
7:55
to investigate divorce because i was
7:57
wondering why is it that 50 percent of
7:59
marriages fail between the fifth and
8:00
seventh year i always thought it was
8:02
infidelity not true the reason marriages
8:06
fall apart
8:07
fifty percent of the time
8:09
is not infidelity most of them can
8:11
survive that it's financial stress one
8:14
partner outspends the other one partner
8:16
goes bankrupt once one partner lies
8:18
about what they're doing with money they
8:20
don't have a common goal and they stress
8:22
their relationship out to the brink of
8:24
where they have to divorce that's what
8:26
happened so money really matters you
8:29
know it's sort of the way you got to
8:30
think about a
8:31
marriage as a financial partnership you
8:33
got to have common goals now i was very
8:35
lucky i married somebody that had no
8:37
money i had no money when we got married
8:39
that wasn't what we were about but we
8:41
both said we got to save some dough here
8:43
pay off our mortgage and get out of debt
8:46
that was our goal when we got married we
8:48
couldn't even afford a meal we ordered
8:49
pizza for our guests at the wedding
8:51
because we didn't want to spend any
8:52
doubt on that and at the end of the day
8:55
i know she didn't marry me for my money
8:57
[Laughter]
9:01
okay i brought that other work to the
9:03
game huh
9:05
kev you're probably a thriller behind
9:07
closed doors i don't care
9:10
hey listen i try and stay in shape why
9:12
not
9:12
okay my man kevin o'leary go ahead tracy
9:15
kevin i got i got two
9:17
questions to throw your way one when i
9:19
think about the spending power of the
9:22
black community personally and honestly
9:25
like i feel a bit torn because i know
9:29
although we have the highest spending
9:30
power but we don't have the highest
9:32
wealth in the country so that just
9:34
creates like i don't know this schism to
9:36
me
9:37
and that brings me to like psychology
9:40
because we know that sometimes when
9:41
people
9:42
are spending that's a form of retail
9:45
therapy for themselves you know what i'm
9:47
saying or they're spending way beyond
9:49
their means and sometimes i feel like
9:51
that can be exploited has those thoughts
9:54
ever entered your mind when you think
9:55
about some companies that make things
9:57
that
9:58
don't necessarily have like
10:01
aren't a necessity but the marketing
10:04
around it is so sparkly you know that it
10:07
can seduce someone to pay for something
10:09
that just collects dust when they should
10:11
be focused on wealth
10:14
well you're taught to spend from an
10:15
early age i mean our society is a
10:17
commercial society because everybody's
10:19
always trying to get you to reach into
10:21
your
10:22
you know pocket and pull out money and
10:23
buy something you don't need that's
10:25
something you've got to teach your kids
10:26
too and you have to have self-discipline
10:28
you know i always say think about going
10:30
into your closet sometime and looking at
10:32
your shoes and your pants and your
10:34
shirts
10:35
you're only wearing 20 of them the rest
10:37
you bought for no reason you never use
10:39
them you might as well throw them out
10:41
this is the biggest mistake people make
10:43
i went one day i looked at all the jeans
10:45
i bought i only wear three pair that i
10:47
really like that's the crazy thing
10:49
people buy stuff they don't need and
10:52
when you do that you kill money because
10:53
that money could be invested and it
10:55
could be making you six seven percent a
10:57
year so that pair of jeans that you
10:59
bought 10 years ago is probably worth a
11:01
thousand bucks now had it been put into
11:03
the market you know 110 you paid for a
11:06
designer gene set or something and
11:08
that's what i teach these days i go into
11:09
colleges and in high schools even you
11:11
know we do a lot of this work on shark
11:13
tank we'll go to a high school tennessee
11:14
or something and say hey listen kids
11:17
don't waste your dough
11:19
it's really a bad idea and here's why
11:22
because if you continue all you have to
11:24
do is keep about 10 of your salary
11:26
average salary in america is 54 000
11:28
if you were able to just keep 10
11:30
invested in the market over the period
11:32
of your career you'd end up with a
11:33
million five in the bank when you retire
11:35
enough to live off instead of buying all
11:38
the crap you didn't need so it doesn't
11:40
matter you know you really have to think
11:42
that through and kind of teach it as a
11:44
philosophy i find myself i'm a cheap guy
11:47
these days i even go through my iphone
11:49
saying what subscriptions do i have here
11:50
i don't need and i'm checking that every
11:52
couple of months you know you you always
11:54
say yeah i'll take that for 3.99 you
11:56
don't need it that's the whole point
11:59
yeah there's definitely a difference
12:00
between materialism and wealth so thank
12:04
you for that also earlier we were
12:06
speaking about um quentin tarantino i
12:08
feel like this is an interesting subject
12:09
to get your pov on anyways he did an
12:11
interview and he was describing how to
12:14
this day still
12:15
um he does not give his mother any money
12:19
any type of financial gift because when
12:21
he was in high school she did not
12:23
believe in his dream of being a writer
12:26
and was trying to um get him to quit
12:29
and so when he was in high school he was
12:31
like you know what when i'm successful
12:33
there will be no car for you no house
12:35
etc etc do you feel like a child owes it
12:38
to their parent thinking about a lot of
12:41
the invisible work a lot of the obvious
12:43
work you know a roof over your head
12:44
paying for your school potentially do
12:46
you feel like a child when they get
12:47
older
12:48
owes it to their parents to
12:51
give some type of gift when they have
12:53
you know a lot of financial success
12:57
well i mean that's a personal decision i
12:59
think it's i'm hearing a story about him
13:02
i've heard that before
13:03
that must be a rift in their
13:04
relationship it's really hard to think
13:06
about
13:07
not loving your mother back that's a
13:09
tough one
13:10
yeah but my mother helped me out so much
13:12
she gave me so much after she passed
13:14
away that i was not anticipating you
13:17
know and i what i basically did with
13:18
that is i spread it around my family
13:20
because i thought that's what she would
13:21
have wanted you know sort of
13:23
because by then i'd already been
13:25
successful i didn't need much more from
13:26
her but she saved it and i gave it to
13:29
other people in my family that needed it
13:31
but i think you've got to think of it
13:33
this way you can't tap your parents out
13:36
because when they have become elderly
13:39
they generally don't have any income
13:40
they're living off their savings and if
13:42
you're young and you're not working and
13:44
you keep telling your mom listen give me
13:46
another thousand bucks just so i can go
13:48
hang out with my buddies that ain't
13:49
right that's not right because you're
13:51
taking away which what she's got to live
13:53
off and very often you know women out
13:55
last men your mother is alive and your
13:57
father isn't and she's all she has is
13:59
what she's saved so i don't like the
14:01
idea of people tapping their parents
14:03
after they're 21 years old you got to go
14:05
make your own living and you got to make
14:07
sure you work a little harder but not
14:09
take your parents money okay my man
14:11
kevin o'leary okay i'm gonna play this
14:12
back
14:13
i got a 22 year old so i'll let her know
14:15
what you said cavs all right
14:18
kev got a tv series money quarters
14:20
premiering um
14:22
wednesday
14:23
10 p.m yes
14:25
cnbc congratulations kev we got a few
14:28
people that got questions you know i
14:29
know everywhere you go people got
14:31
questions for you i hope you don't mind
14:33
man um i'ma put and then they have ideas
14:36
kev they have ideas kevin so this is
14:38
kelly right now on the line from north
14:40
carolina grand rises kelly and they're
14:43
all going to watch your show kevin
14:44
they're all going to watch the show
14:45
right kelly
14:47
oh yeah definitely coming in okay cool
14:50
say hello to kevin o'leary do you have a
14:52
question
14:53
or an idea
14:54
good morning everybody um i am the owner
14:58
and inventor of the dual duvet which is
15:00
a split uh comforter
15:03
and i have been trying to figure out how
15:06
to get my products out there i have a
15:09
website of course i have an instagram
15:12
page
15:13
and i'm just trying to figure out what's
15:14
going to be the best way to get my
15:17
product in front of them inventors and
15:20
where do i look for these i mean
15:22
investors and where do i look for these
15:24
investors at
15:26
it's all social media now what's
15:28
happened after pandemic is everything's
15:29
direct to consumers so what you have to
15:31
do is go find the blogs go find the
15:33
people and the clubs and all of the
15:36
groups on on facebook and other social
15:38
media platforms linkedin you name it
15:40
that love that product category and
15:43
start showing images and videos right
15:46
now videos become more important than
15:47
photography because all the algorithms
15:49
on these social media platforms are
15:51
favoring video
15:52
59 second videos you can see what's
15:54
happening with tick tock open account
15:55
there too you got to tell the story just
15:57
the way you just told it now and that's
16:00
what works because you don't want to
16:01
spend a ton of money on digital
16:03
advertising what you want to do is be a
16:04
storyteller and explain what the
16:06
benefits of your product are and push
16:08
people directly to your website that's
16:10
how it starts and then the community
16:12
starts to build if your product's good
16:14
word of mouth really kicks in and people
16:16
start saying yeah here's where i got it
16:18
here's why i like it here's why i use it
16:20
and bingo it starts to sell that's based
16:22
on the merits of a good product i've
16:24
seen that happen a hundred times in my
16:26
shark tank companies and if the product
16:28
is good it's gonna survive and you don't
16:31
have to spend a ton of money that's what
16:33
i found out the good marketers tell
16:36
stories and have little images and 59
16:38
second videos and really work hard that
16:41
people understand why the product has
16:43
merit you do that well you'll do just
16:45
fine hey kelly thanks for your call
16:47
you're a citizen okay kelly today in the
16:49
morning
16:50
[Applause]
16:52
okay you too all right um
16:55
john in ohio you have a quick question
16:57
john john hey how you doing how you
16:59
doing um
17:01
kevin um i'm definitely a big fan of
17:03
your show i'm definitely going to watch
17:04
your new program because i'm all about
17:06
reinvesting money the question i got is
17:09
this you know i'm i do decent i got a
17:12
nice tree service and i got you know i
17:13
do a lot of uh i i get consistent cash
17:16
flow but
17:18
i own some properties but i what i want
17:20
to start doing
17:21
is firing higher-end properties and i
17:24
want to be able to go to the bank
17:27
and them just you know
17:29
let you know i got assets but i want to
17:32
be to go to the banks and get like the
17:34
nice credit line for me to be able to
17:36
buy
17:37
you know different i don't just want to
17:39
be limited to properties because
17:41
sometimes you run across a good deal on
17:43
something and i'm trying to get like a
17:45
nice
17:46
credit line so i can be able to just you
17:49
know if i get an opportunity
17:51
to make you know a good power move i
17:54
want to be able to do that um so i'm
17:56
trying to find out how do i go to the
17:59
bank my credit score is great and
18:00
everything too but i'm trying to be more
18:03
you know i want to i want to make big
18:05
moves like you and i'm trying to go to
18:07
the next level that's my objective so
18:09
how do i how do you lead me in the
18:11
direction to get me here
18:13
well you mentioned credit score that's
18:15
really important i mean you never want
18:16
to screw that up and i always say to
18:18
people
18:19
do what you know and know what you do
18:21
because if you understand property and
18:23
you're making money maybe you're renting
18:24
out a property or
18:26
you're just managing it or whatever and
18:28
that's what you're good at you don't
18:29
want to stray too far where people get
18:31
in trouble is they get into debt they
18:33
take down a credit line and most of
18:35
these credit lines the banks give you
18:37
have variable rates in other words it's
18:39
great when interest rates are low but in
18:41
a couple of months or maybe even shorter
18:43
period of time we don't know when rates
18:45
will start going back up and then that
18:46
monthly payment you're paying
18:48
skyrockets and you get into trouble you
18:50
destroy your credit rating i really like
18:52
to stay in my lane i know what i'm good
18:54
at when people pitch me ideas that i
18:56
don't understand or i've never done
18:58
before i avoid them because every time
19:01
i've lost money it's because i got
19:03
involved in something i didn't
19:04
understand and i never done before and
19:06
that's how you learn of course but you
19:08
don't want to make too many mistakes
19:09
where you lose money because that credit
19:11
score is really hard to fix if you
19:15
destroy it really hard because they
19:17
don't forgive
19:18
and and every time you borrow money
19:20
after that even for something you do
19:21
know like property management you're
19:22
going to pay a lot more for it so i'm in
19:25
the fan base where i say okay
19:27
if you really are good at managing
19:29
properties or whatever you're making
19:30
money on right now do more of that
19:33
because that's where your skill base is
19:36
that's what you're good at and stay out
19:38
of trouble you know money can be a great
19:41
thing but when you owe it to somebody it
19:43
can really screw you up
19:46
john thanks for your call you're a
19:47
citizen brother all right
19:50
like you're going to take on one more
19:51
katherine is in uh miami grand rises
19:54
catherine how are you hey kathy hi grand
19:57
rising everybody hi kevin
20:00
hi there
20:02
um kevin so my question for you is i
20:05
wanted to know what your thoughts are on
20:08
prenups
20:09
before marriages and how one should feel
20:12
if your partner asks for a premium
20:15
i like you
20:17
[Laughter]
20:18
you know i really like prenups let me
20:20
tell you why you know let's talk about
20:22
dating let's talk about marriage let's
20:24
talk about that journey as you get
20:26
together you know maybe you start
20:28
generally speaking by the third date by
20:31
the time you're seeing somebody a third
20:33
time you know you're interested and you
20:34
know they're interested in you
20:36
so why is it a bad thing to start
20:39
talking about money that's when you
20:41
should start talking about it because if
20:42
you're getting into a relationship you
20:44
want to find out a little financial due
20:46
diligence about your partner have they
20:48
ever been bankrupt do they owe a lot of
20:50
money are they in debt do they gamble
20:53
you know that kind of thing is really
20:55
important to know before you enter into
20:56
a marriage and i'll tell you why i like
20:58
prenups prenups force you to do
21:01
financial due diligence they force you
21:03
to ask those questions and there's
21:05
nothing wrong with them because prenups
21:07
are important for that period in your
21:09
marriage for the first three years maybe
21:11
you don't have kids in there the minute
21:13
you have a kid those prenups are
21:14
worthless because now you have a family
21:16
and it doesn't matter no judge is going
21:18
to go back to an old piece of paper when
21:19
you have a child involved you're going
21:21
to go 50 50 from that point on but you
21:24
really want to make sure
21:26
that you have a good understanding of
21:27
who you're getting into bed with you
21:29
know when i say that you're doing a
21:31
marriage as like a business this is your
21:33
partner and if you have somebody that's
21:36
really not aligned with you you're going
21:38
to have a bad outcome and so i always
21:40
tell people you know i talk to a lot of
21:42
young kids that are dating i said look
21:43
you guys been going out now for like a
21:45
year you ever talked about money
21:47
and they say no no we don't talk about
21:49
money well that's crazy that's crazy
21:51
you're going after a you're gonna get
21:52
married probably right and so that's
21:54
what i'm thinking about all the time is
21:55
trying to tell people just like we're
21:57
talking now
21:58
yes to the prenup it just forces you to
22:01
deal with that due diligence about your
22:03
partner's financial literacy
22:07
there you have okay catherine you got it
22:09
i i love it thank you so much all right
22:12
you're a citizen um
22:14
kevin i got to ask you one last question
22:16
a friend of mine my partner king tech
22:17
was curious um because he's a investor
22:20
as well
22:22
um
22:23
two things he said out of all your
22:25
investments
22:26
which one is currently
22:29
the most profitable and why
22:33
the investment i made in myself
22:37
[Applause]
22:38
[Music]
22:40
i tell people you know
22:43
the thing you got to do is keep yourself
22:45
healthy and tuned in shape
22:48
don't do drugs don't drink too much
22:50
don't smoke i know that sounds really
22:52
corny but if i wasn't healthy i couldn't
22:55
make more money that's the way i look at
22:57
it and so i really really care about
22:59
what i eat and how i exercise and all
23:01
that stuff and when i meet people that
23:03
you know in their 50s that are smoking i
23:06
say are you out of your mind like what
23:07
are you doing that for that's crazy so
23:09
i'm i'm all about investing in yourself
23:11
number one
23:12
getting yourself in a good mental
23:14
attitude don't get stuck on something
23:16
you know you shouldn't be doing
23:18
everything in moderation my mother
23:20
taught me this and it works because with
23:22
your healthy and you're sharp and you're
23:24
focused you can make a lot more dough
23:26
that's what i've learned and i think
23:28
that's always got to be number one you
23:30
got to be number one you got to take
23:31
care of yourself always you're number
23:33
one always i don't mean in a selfish
23:34
manner i mean you got to take care of
23:36
yourself and then everything will fall
23:38
in behind you
23:39
just fine
23:40
okay and then one last question i know
23:42
you got to go and this is a field that i
23:44
i
23:46
i'm invested in is shipping containers
23:49
uh chip and then also one actually about
23:51
supply chain issues that we're dealing
23:53
with in the in in this country right now
23:55
the cost on everything is through the
23:56
roof
23:57
uh for example shipping containers from
23:59
china china used to cost us about thirty
24:01
five hundred dollars
24:03
uh from china to la and now it's around
24:05
20 000 it's just been a spike on
24:07
shipping containers so what are your
24:09
thoughts on the supply chain issues that
24:10
we're dealing with in this country
24:13
i think they could be semi-permanent
24:15
these costs because you know the world
24:16
is changing quite a bit we have lots of
24:18
competition from other economies that
24:20
are also recovering
24:22
and there's no question there has been a
24:23
lot of problems on the supply chain
24:25
management system i have that in all of
24:27
my companies because we had a lot of our
24:29
products and services manufactured over
24:31
in china now we've shifted a lot to
24:32
vietnam like love pop greeting cards we
24:34
make them in vietnam now not china and
24:37
other products and things that i do
24:39
but i've also learned you're right
24:41
you've got to be very focused on keeping
24:43
that whole thing working
24:45
and i think what's happened here is we
24:47
did not see this recovery coming as fast
24:50
as it has
24:51
we're talking about gdp growth in q4
24:54
like nine ten percent we haven't seen
24:56
that since the 1950s
24:58
and so you know america's roaring back i
25:01
know we got issues with this variant and
25:03
all that stuff but we're learning to
25:04
live with this virus and be a little
25:06
healthier about it and be a little more
25:08
cautious at least the majority of people
25:10
are and our economy is roaring back and
25:12
it's putting a lot of pressure on supply
25:13
chain so i don't see that you know being
25:16
resolved anytime soon just ask anybody
25:18
that's trying to buy a ford pickup truck
25:20
right now you can't even get one they're
25:22
having such a hard time with the chips
25:23
and everything it's crazy because the
25:26
economy is coming back which is a good
25:27
thing but the demand is insatiable and
25:30
we can't get what we need and so i think
25:32
that's going to be the new normal
25:35
well kevin o'leary thank you this has
25:37
been fun man it's been really great
25:38
having you on the show
25:40
um congratulations on money court our
25:42
our whole team our whole audience will
25:44
be supporting you and we would love to
25:46
have you back
25:47
[Applause]
25:49
i really enjoyed it tomorrow night 10
25:50
o'clock cnbc money court please watch it
25:53
i'm very proud to have made it it's a
25:55
lot of fun continued success kevin
25:57
o'leary take care of yourself and you're
25:59
a citizen
26:15
you
#Arts & Entertainment