In a recent special installment of The Yield Podcast, Yieldstreet’s Director of Product Marketing, Peter Kerr, CFA sat down with Joe “The Billionaire Boxer” Fournier to discuss entrepreneurship and how the principles of training for a big stage fight can be applied in the arena of finance. In addition to being a champion boxer, Joe is an entrepreneur who rose to prominence after selling his fitness business to a FTSE 100 company, and he currently owns a chain of nightclubs operating under the Bonbonniere trademark. Here are a few key takeaways from the conversation:
Talent Doesn’t Always Beat Hard Work
In one way or another, we have likely all experienced a hesitancy to try our hand at something new, and more specifically because we didn’t feel we possessed the inherent “talent” required to succeed. As a former basketball player with no early boxing training or experience, Joe was able to turn a simple urge to live a healthier lifestyle into an undefeated professional boxing career, complete with frequent multi-million dollar pay-per-view contracts. After working hard in the gym and winning his debut match by knockout in the first round, Joe realized that in the boxing ring, as well as in the business world, it isn’t necessarily talent that leads to victory, but rather a dedication and willingness to work hard to achieve our vision of success. “Boxing is one of those sports where hard work does beat talent, a lot of the time,” Joe said. “If you’re fitter and stronger and more consistent, and you don’t give up when it gets difficult, [winning] is something you can really achieve, which also aligns with business.”
Be Comfortable with Losses
Although people typically want to hear him talk about his various wins, both inside and outside the boxing ring, Joe will be the first one to tell you about all the times he has actually lost, and more importantly about what he has been able to learn from those losses. Joe never received a formal education in business or finance, and while he is now an expert on topics like brand building and cashflow, his expertise ultimately came from the losses he experienced in the absence of such an understanding. “If you’re investing, you have to invest, and you have to lose. That’s how it works,” he said. “And then you figure out what you’re meant to invest in, and you win.”
Investing in Yourself Means Investing In Experience
“Invest in yourself” is a piece of advice we hear repeated quite a bit these days, but very rarely do we hear the phrase clarified to reveal a deeper meaning or to suggest a specific course of action. For Joe, investing in yourself means investing in real-life experiences that bring you closer to realizing your true value and potential. To drive home this point, he recalls blindly trusting a bank to manage his money in the early days of his financial success. After the bank failed to deliver on its promises, Joe decided that he would never make an investment on the basis of trust alone, but only after he had taken the time to understand the mechanics of the investment for himself. As he reiterates more than once, “controlling the elements and factors that you can control” is critical for self-fulfillment in all areas of life, and the only way to do that in the investment world is to properly educate yourself regarding every opportunity, and use the knowledge gained from your experience to determine and leverage your unique competitive edge.
To access the full discussion and learn more about Joe’s attitudes toward business and investing, as well as the factors that he believes have enabled his ongoing success in all walks of life, check out the video here or subscribe to The Yield on the podcast-streaming platform of your choice.
Sign up with Yieldstreet and be the first to know about our latest offerings, recent news, upcoming events, and more.Your email will never be shared and will only be used for Yieldstreet updates. Already a Yieldstreet member? You're already set up to be notified.
Sign up with your email address
Securely verify your identity and link a bank account
Verify your accreditation (if applicable) to access all of Yieldstreet’s offerings.
Our weekly podcast providing ideas about how to make money work for you and bring you closer to your dreams.
1 Past performance is no guarantee of future results. Any historical returns, expected returns, or probability projections may not reflect actual future performance. All securities involve risk and may result in significant losses.
2 Represents an average net realized internal rate of return (IRR) with respect to all matured investments in your portfolio, utilizing the effective dates and amounts to and from the investments and net of management fees and all other expenses charged to the investments. Past performance is not a reliable indicator of future results and should not be relied upon as the basis for making an investment decision. All securities involve risk and may result in significant losses, including the loss of principal invested.[read more]
3 "Annual interest" or "Annualized Return" represents an annual target rate of interest or annualized target return and "term" represents the estimated term of the investment. Such target interest or target returns and estimated term are projections of the interest or returns and or term and may ultimately not be achieved. Actual interest or returns and term may be materially different from such projections. This targeted interest or returns and estimated term are based on the underlying investments held by the applicable.
4 Reflects the annualized distribution rate that is calculated by taking the most recent quarterly distribution approved by the Fund's Board of Directors and dividing it by prior quarter-end NAV and annualizing it. The Fund’s distribution may exceed its earnings. Therefore, a portion of the Fund’s distribution may be a return of the money you originally invested and represent a return of capital to you for tax purposes.
5 Represents the sum of the interest accrued in the statement period plus the interest paid in the statement period.
6 The internal rate of return ("IRR") represents an average net realized IRR with respect to all matured investments weighted by the investment size of each individual investment, made by private investment vehicles managed by YieldStreet Management, LLC from July 1, 2015 through and including Dec 22th, 2021, after deduction of management fees and all other expenses charged to investments.
7 Investors should carefully consider the investment objectives, risks, charges and expenses of the Yieldstreet Prism Fund before investing. The prospectus for the Yieldstreet Prism Fund contains this and other information about the Fund and can be obtained by emailing [email protected] or by referring to www.yieldstreetprismfund.com. The prospectus should be read carefully before investing in the Fund. Investments in the Fund are not bank deposits (and thus not insured by the FDIC or by any other federal governmental agency) and are not guaranteed by Yieldstreet or any other party.
8 This tool is for informational purposes only. You should not construe any information provided here as investment advice or a recommendation, endorsement or solicitation to buy any securities offered on Yieldstreet. Yieldstreet is not a fiduciary by virtue of any person's use of or access to this tool. The information provided here is of a general nature and does not address the circumstances of any particular individual or entity. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of this information before making any decisions based on such information.
No communication by YieldStreet Inc. or any of its affiliates (collectively, “Yieldstreet™”), through this website or any other medium, should be construed or is intended to be a recommendation to purchase, sell or hold any security or otherwise to be investment, tax, financial, accounting, legal, regulatory or compliance advice. Nothing on this website is intended as an offer to extend credit, an offer to purchase or sell securities or a solicitation of any securities transaction.
Any financial projections or returns shown on the website are estimated predictions of performance only, are hypothetical, are not based on actual investment results and are not guarantees of future results. Estimated projections do not represent or guarantee the actual results of any transaction, and no representation is made that any transaction will, or is likely to, achieve results or profits similar to those shown. In addition, other financial metrics and calculations shown on the website (including amounts of principal and interest repaid) have not been independently verified or audited and may differ from the actual financial metrics and calculations for any investment, which are contained in the investors’ portfolios. Any investment information contained herein has been secured from sources that Yieldstreet believes are reliable, but we make no representations or warranties as to the accuracy of such information and accept no liability therefor.
Private placement investments are NOT bank deposits (and thus NOT insured by the FDIC or by any other federal governmental agency), are NOT guaranteed by Yieldstreet or any other party, and MAY lose value. Neither the Securities and Exchange Commission nor any federal or state securities commission or regulatory authority has recommended or approved any investment or the accuracy or completeness of any of the information or materials provided by or through the website. Investors must be able to afford the loss of their entire investment.
Investments in private placements are speculative and involve a high degree of risk and those investors who cannot afford to lose their entire investment should not invest. Additionally, investors may receive illiquid and/or restricted securities that may be subject to holding period requirements and/or liquidity concerns. Investments in private placements are highly illiquid and those investors who cannot hold an investment for the long term (at least 5-7 years) should not invest.
Alternative investments should only be part of your overall investment portfolio. Further, the alternative investment portion of your portfolio should include a balanced portfolio of different alternative investments.
Articles or information from third-party media outside of this domain may discuss Yieldstreet or relate to information contained herein, but Yieldstreet does not approve and is not responsible for such content. Hyperlinks to third-party sites, or reproduction of third-party articles, do not constitute an approval or endorsement by Yieldstreet of the linked or reproduced content.
Investing in securities (the "Securities") listed on Yieldstreet™ pose risks, including but not limited to credit risk, interest rate risk, and the risk of losing some or all of the money you invest. Before investing you should: (1) conduct your own investigation and analysis; (2) carefully consider the investment and all related charges, expenses, uncertainties and risks, including all uncertainties and risks described in offering materials; and (3) consult with your own investment, tax, financial and legal advisors. Such Securities are only suitable for accredited investors who understand and willing and able to accept the high risks associated with private investments.
Investing in private placements requires long-term commitments, the ability to afford to lose the entire investment, and low liquidity needs. This website provides preliminary and general information about the Securities and is intended for initial reference purposes only. It does not summarize or compile all the applicable information. This website does not constitute an offer to sell or buy any securities. No offer or sale of any Securities will occur without the delivery of confidential offering materials and related documents. This information contained herein is qualified by and subject to more detailed information in the applicable offering materials. Yieldstreet™ is not registered as a broker-dealer. Yieldstreet™ does not make any representation or warranty to any prospective investor regarding the legality of an investment in any Yieldstreet Securities.
Banking services are provided by Evolve Bank & Trust, Member FDIC.
Investment advisory services are provided by YieldStreet Management, LLC, an investment advisor registered with the Securities and Exchange Commission.
Our site uses a third party service to match browser cookies to your mailing address. We then use another company to send special offers through the mail on our behalf. Our company never receives or stores any of this information and our third parties do not provide or sell this information to any other company or service.