Alec and Bryce are joined by Lauren Simmons, the youngest female trader in the history of the NY Stock Exchange. Together they have a conversation about hype investing, the dangers of crypto, trends she’s heard and noticed in fellow millennials who invest, and her new venture as the host of Going Public. At 22 years old, Lauren Simmons shattered glass ceilings by becoming the youngest, and only full-time, female equity trader on Wall Street, as well as the second African American woman in 226 years.
If you want to let Alec or Bryce know what you think of an episode, contact them here.
Some of our favourite resources and offers to help you during your journey:
- $50-$200 OFF some amazing investing courses by our friend-of-the-show, Owen
- Track your investment portfolio with Sharesight.
- Get a free stock when you sign-up to Stake, using the code EQUITYMATES
- Get exclusive access to our favourite data and insights platform, TIKR
- Take the emotion out of investing in Bitcoin, Ethereum, Gold and Silver with micro-investing app, Bamboo. Use EQUITY MATES for $10 when you sign-up
- Get $15 of Bitcoin, using one of our favourite crypto-currency exchanges, Swyftx
- Get 5 free trades if you plan to use the broker SelfWealth
Equity Mates Investing Podcast is a product of Equity Mates Media.
All information in this podcast is for education and entertainment purposes only. Equity Mates gives listeners access to information and educational content provided by a range of financial services professionals. It is not intended as a substitute for professional finance, legal or tax advice.
The hosts of Equity Mates Investing Podcast are not financial professionals and are not aware of your personal financial circumstances. Equity Mates Media does not operate under an Australian financial services licence and relies on the exemption available under the Corporations Act 2001 (Cth) in respect of any information or advice given.
Before making any financial decisions you should read the Product Disclosure Statement and, if necessary, consult a licensed financial professional.
Do not take financial advice from a podcast or video.
For more information head to the disclaimer page on the Equity Mates website where you can find ASIC resources and find a registered financial professional near you.
In the spirit of reconciliation, Equity Mates Media and the hosts of Equity Mates Investing Podcast acknowledge the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respects to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander people today.
Bryce: [00:01:36] Welcome to another episode of Equity Mates, a podcast that follows our journey of investing, whether you're an absolute beginner or approaching Warren Buffett status, our aim is to help break down the barriers from beginning to dividend. My name is Bryce and as always, I'm joined by my equity buddy Ren. How's it going? Right. [00:01:51][15.1]
Alec: [00:01:51] I'm good. Bryce very excited for this episode. As we continue to go to the podcast, we're managing to speak to more and more people from outside Australia. And I'm excited to have another American guest joining us today. Absolutely. [00:02:03][11.7]
Bryce: [00:02:04] It is our pleasure to welcome Lauren Simmons to the show. Lauren, welcome. [00:02:06][2.5]
Lauren: [00:02:07] I'm so excited to be here. So excited to be talking with you all today. [00:02:10][3.4]
Bryce: [00:02:11] So there's plenty to go through in today's episode. But for those of you who haven't come across Lauren before, at 22 years old, Lauren was the youngest and only full time female equity, tried to make it on Wall Street as well as the second African American woman in history. So it's an incredible story and one that we really want to unpack here. Lauren, your journey on Wall Street, what you're doing in life after Wall Street and then also some of the work that you're doing on the going public show, that sounds super interesting that we also want to crack into. But before we do, we always like to start with a game. So Ren, let's do it. [00:02:51][40.1]
Alec: [00:02:52] Yeah, let's do it. So, Lauren, we call this game overrated or underrated and we like to throw a few concepts, news items or indexes out that we might not otherwise get to touch on in the interview just to get your view on them and whether they're overrated or underrated at the moment. So we'll start with what has to be the most popular index in America at the moment, the Nasdaq 100. Overrated or underrated? [00:03:15][23.1]
Lauren: [00:03:16] Underrated. [00:03:16][0.0]
Alec: [00:03:18] And why is that? [00:03:18][0.7]
Lauren: [00:03:19] You know, I think the Nasdaq 100 tech is it's what's leading the market. And I think that there's always more tech stocks that will be added to it that are that are better than not that are not part of the Nasdaq 100 at the moment. So I would say underrated, [00:03:35][15.8]
Bryce: [00:03:35] nice, overrated or underrated bitcoin. [00:03:38][2.9]
Lauren: [00:03:40] Overrated, overrated all day. Every day. Why? I do think that crypto currencies it's a very interesting topic. And I know we don't have enough time to go into all of it. But I will say that countries are definitely going above and beyond to try to create a digital currency because that is going to be the next wave. And when that happens, I don't think that that will be Bitcoin or any other cryptocurrency that are topic of the day, Bitcoin. And a lot of these other cryptocurrency will go obsolete. I do believe in etherial. I think a theory on the block chain technology behind it is wonderful. But I think the one that holds the largest market cap at the moment is Bitcoin. And I'm not even we know why institutions have put so much money into it. But once the digital currency is created and it is globalized, I really believe that Bitcoin will not be around. So it's overrated. [00:04:38][58.2]
Bryce: [00:04:39] We've just lost half of our audience, including Bryce Salone. [00:04:46][6.1]
Alec: [00:04:47] A big story of twenty twenty one has been the return of inflation and what that means. But now some people are saying those fears are overblown. So overrated or underrated fears around inflation underrated? [00:04:59][12.8]
Lauren: [00:05:00] No. Who says that it's overblown? We are still due for a couple of market crashes this year and I don't think this is going anywhere. We see countries are still being shut down due to the pandemic and how the coronavirus is playing out. So I don't think that we're out of this. I think we have a long way to go. And at least here in America, I'm really curious on what the next five years will look like, especially when it comes to inflation, [00:05:28][27.8]
Bryce: [00:05:30] overrated or underrated, the the rise or potential bubble in stocks. [00:05:34][4.1]
Lauren: [00:05:37] Oh, my God, [00:05:37][0.3]
Alec: [00:05:40] everybody knows it. [00:05:41][0.9]
Lauren: [00:05:41] I'm not anybody who knows me knows I don't like specs at all. It is one of the most hyped speculation outside of Bitcoin that has happened through this twenty, twenty, twenty one year. And I tell people, stay far away from it and, you know, don't get too caught up into the speculation and to hype. And what's the next trendy thing. I, I [00:06:05][24.7]
Alec: [00:06:06] yeah. Yeah. Well if we stick on the topic of hype, overrated or underrated, Wall Street bets overrated. [00:06:15][8.8]
Lauren: [00:06:17] Have you guys been on there. I mean, I appreciate what some of them have to say. And I think that they definitely have brought a lot of awareness of what goes on on Wall Street. But a lot of information on there is very much misinformation. If you try to tell them otherwise, they'll say no. And so I think that they. They have created their own cult like group and they have all the answers, even though they don't, and I wish them the best of luck and their journey in their endeavors. [00:06:44][26.7]
Bryce: [00:06:46] And to close out, Lauren, much like here in Australia, the American residential property market is pretty hot at the moment and it's causing a fair bit of a particularly here in Australia anyway, overrated or underrated, a U.S. residential property. [00:07:00][14.3]
Lauren: [00:07:01] I just feel like if you ask me this question in the next 12 months is going to be a different conversation, especially here in America. Oh, Stacey, underrated. I mean, we still have a long way to go, like the pandemic is still going on. I think the market is crazy for the housing market, but I do think that come 2022, it'll be a different conversation. [00:07:26][25.0]
Alec: [00:07:28] So on when when we get expert investors on the show, we love to start the conversation by hearing the story of their first investment. We find those generally a good story or perhaps a good lesson that comes out of it. So to kick us off today, can you tell us the story of your first investment? [00:07:44][16.9]
Lauren: [00:07:45] When I started on the trading floor, I had never invested in the stock market, and I learned pretty quickly with my time on the trading floor that a lot of the men on the floor don't invest in the market. These are men who have spent about two decades going on, three decades or three recessions now. And for them, they feel like you can't beat the game, so don't play in the market. I always found that interesting because you can't really beat the game or play the game if you're not in the game. So I always made sure that when I made my first investment that I was financially ready to be in a place to invest. I know that there's so much advice to young adolescents. The earlier you invest, the better. But I always felt like an asterisk next to that. Like, if you're not ready to invest, if you're financially not in a place to invest and don't, I think especially during this pandemic, the conversation of investing and famo and all these things, all these, you know, things that are going on that people feel like they need to be investing now. And there's no rush. If it's meant for you, great. If it's not great. But you want to make sure that you have financial security. So for me, I actually didn't invest until March of last year when the crash happened. And I was really proud of myself, like I was financially in a place where I was secure. I had a safety net built out for over two years financially. So I was ready to, you know, start investing. And I obviously worked on the trading floor. I did thorough due diligence. I knew what companies I wanted to invest in two years prior to even investing. So when that moment happened and the crash happened, it was a great opportune moment to buy in. [00:09:26][101.3]
Bryce: [00:09:27] Yeah, awesome. So you speak of companies that you knew you were going to buy, but you didn't take the plunge until March. Twenty twenty. Great time to get into the market. Do you have a personal investing philosophy or guidelines that you try and follow? [00:09:42][15.5]
Lauren: [00:09:43] So I am all about ESG investing, environmental social governance, investing and investing in companies that make sure that they're investing in communities that look like mine, that are giving back to the community. That is that makes environmental environmental issues a priority. So for me, it's really not what your balance sheets look like or how healthy, you know, your revenues are. It's really about the ethos of the company and really where am I put my money? And I think they're just not that many companies that do that. I'll give one example that I think does a great idea. Nike, they're doing a phenomenal job. I'm on so many different fronts. But I think if we look at most corporations or most companies that are listed at the New York Stock Exchange or even the Nasdaq, they they're they're doing a terrible job, whether it's worker's compensation, hiring practices, women, minorities, et cetera, et cetera. So that is that is what I really lean into when I'm thinking of investing. [00:10:38][55.1]
Alec: [00:10:39] Mhm. Yeah. It's it's definitely such a big topic of conversation in the Equity Mates community as well as GE Sustainability Climate. It's a real focus I think globally for young people when they think about how they allocate their money. But learn if we if we take a step back, as Bryce said in the introduction, you were when you were just 22 years old, you were the youngest and only full time female trader on Wall Street and just the second African-American woman in the New York Stock Exchange with two hundred and twenty six year history, which is a pretty astounding story. Can you take us back and I guess tell tell us a little bit about your background and your journey to Wall Street? [00:11:20][40.9]
Lauren: [00:11:21] Yeah, my journey was not the normal one. I came from Georgia, Marietta, Georgia, which is the suburbs of Atlanta. I studied genetics and I thought for sure that. That was what I was going to pursue, I now know that most people, only 32 percent of people go into the career in which they majored in. So a lot of people pivot for me. I ended up moving to New York the day that I graduated, had no idea what exactly it is or was that I was going to be doing. But I leaned heavily on my statistics math background and networked with a man who worked at Goldman Sachs. And the first five minutes of meeting him, he told me that Goldman would not hire me. I said, Oh, OK, cool. And he said, Would I be interested in working as an equity trader at the New York Stock Exchange? And I said, yes, I had very limited knowledge on the New York Stock Exchange. Like, I certainly didn't know what they did down there. I didn't know that it was, you know, iconic in so many different ways. And for me, before even going onto the floor, I said, I'll get this job. I'll stay on the floor for two years, and then I'm going to leave and I'm going to do something else in finance. And at the time, I thought I really wanted to be a financial analyst. So boring, even like saying that, like going into the mindset of like a 22 year old and coming out of genetics and had studied statistics so heavily that just made the most sense at the time. But yeah, I end up coming to the floor meeting Richard Rosenblad. I was hired on the spot. I had to take the series 19, which has an 80 percent fail rate. And for people who don't know the series 19 or anyone who says it's easy or I've heard the series 19 is the in-house New York Stock Exchange exam. And so it's not anything that you can Google. It's not like the Series seven or any other exam that you can look online and and get an idea of what the test is like. Also, before the New York Stock Exchange was public, it was private and a lot of the rules for people taking tests were done in very shady ways. And maybe that's not the word, but you didn't have to pass the exam. You could give the test, administer a pack of beer, and you could self grade your exam and you would pass. Once the exchange was under became public and the test was administered under FINRA, you had to actually take the exam. So going on to the floor and asking them in on the floor, how do I pass? A lot of them had no idea because they never actually took the exam. So that's one of the reasons why the exam is so hard. But yeah, I studied the book cover to cover. I passed and the rest is literally history, literally. [00:14:04][163.6]
Bryce: [00:14:06] Literally. So you've spoken about the exam on TV. We say a lot of yelling and screaming on the trading floor. And if you have a look at what happens on the trading floor here in at the Australian Stock Exchange, it's not like that at all. It's just all screens or computers now and there's no emotion or anything. I don't think there's anyone on the trading floor. I think that's [00:14:26][20.1]
Lauren: [00:14:26] Australians in general. Hey, hey, hey. [00:14:28][1.9]
Bryce: [00:14:32] You take us onto the trading floor. Is it actually like that? What was your typical day like? [00:14:36][4.5]
Lauren: [00:14:37] Yeah. So for context, a lot of people don't know. The New York Stock Exchange is the only place that still has human traders. And, you know, there are pros and cons to that. I think DMM specialists are I'm not going to say more worthy, but I think that they have a more important role on the trading floor than than traders themselves. But as far as what you've probably seen on, Wolf, Wall Street or what you've seen in a lot of shows in the past, it's not like that. No, the reality is, is the open the close is the busiest times of the day, which, yes, there is shouting and running around as we're trying to, you know, get looks for our clients and looks meaning if a stock is about to open, we could access from the DMM specialists on what that stock will look like when it opens, what the price will be. And so we can give that relate that information in real time to our clients, which, you know, there is a benefit of that. But I think what we have seen during the pandemic and the first time in a very long time, the New York Stock Exchange shutting down and there were no traders, there were no specialists on the floor. It makes you wonder how how valuable it is actually have human traders on the floor when others when other exchange floors are able to do it just fine. So I think, you know, it is definitely exciting, especially with a new IPO and depending on the company that's being listed in the open in the close. But during the day, it's very passive and and not not a lot going on. [00:16:06][89.4]
Alec: [00:16:08] It's not quite like what we say in the movies. [00:16:09][1.6]
Lauren: [00:16:11] I know. I know. [00:16:12][1.0]
Alec: [00:16:14] So, Lauren, it's pretty phenomenal that you shot glass ceilings and being the second African-American woman in two hundred twenty six years is is pretty phenomenal. But but it also points, I guess, to some pretty, I guess, a problem with the the traditional way they hired or. Pass the exam soon, since you joined the trading floor, have you seen improvements as the New York Stock Exchange got more racially diverse and more diverse with gender as well? [00:16:45][30.7]
Lauren: [00:16:46] No, I don't I don't really think that that is the initiative of the New York Stock Exchange. I think that they are very much a traditional company in the sense of that's not a priority. And I think that when it comes to younger millennials and definitely Gin's years, that is something that we're going to very much be looking into. How what is the focal point? What is the focus of making sure that diversity and inclusion is on the forefront? It's not about just hiring a minority to be in the room, but still hiring qualified talent and doing that in a way where it matters, but it doesn't. So, for instance, if you are getting a whole bunch of applicants and all the applicants out of the hundred are all white men, it's not to say that those white men aren't qualified because they probably are. But there should be at least more numbers within that pool. And I think when it comes to the New York Stock Exchange or a lot of Wall Street, they will it'll be a new future. And I say that in the sense of we will now start seeing new startups, new companies, new hedge funds that will make diversity and inclusion a priority. And they people will get tired of waiting for the gatekeepers to make the change. And we see that happening in real time. This is this 20, 20 has been the year of innovation even before 20, 20, but definitely going into twenty twenty one and and companies that don't make it a priority, Bill, they're just not going to withstand the test of time. Mhm. [00:18:13][86.9]
Bryce: [00:18:14] So during your time on Wall Street, you know, we all built up an idea of what Wall Street is and the people that work there. But are there any sort of big misconceptions that we might have about Wall Street or that that you found? [00:18:26][12.0]
Lauren: [00:18:27] It's not as intimidating as people think. I do think like coming into Wall Street, you think, oh, my goodness. I mean, certainly there are the characteristics of like the alpha type men, but they're everyday people. And the information that's out there isn't harder to understand. It's all about accessibility. And I think for the most part, most common people, especially when it comes to investing and trading, can can make very informed decisions if they're given the information to do so. I think a lot of the jargon that's on TV or what's like pushed out to the world, they use, you know, terminology that people don't really understand. And so they think it's above their pay grade or it's above anything that they would understand. But really, it's all their finance has been here since the beginning of time. Everything is pretty accessible. It is going to take a little bit of due diligence and reading more than you probably would want to. But I wouldn't say that the people on Wall Street are like rocket scientists. I believe that the information there can be easily digestible and relatable and and all the information is kind of out there. I don't like. Wall Street isn't doing anything new, meaning curing cancer, rocket science, Tesla innovating new cars, Aebi vehicles of vehicles at all. But finance has been there, which is why I think this crypto space is can be really innovative because there is new technology that is there and it is innovative and it brings, you know, just newness to what we have known so long to be the traditional status quo. [00:20:07][100.7]
Alec: [00:20:09] Hmm. Yeah, I couldn't agree more with what you were saying around. You know, finance is accessible once you cut through the noise and the jargon. And, you know, that's something that we really try and get across here at Equity Mates. The, you know, investing can be for everyone. So when you left Wall Street in twenty eighteen, why the decision to leave? And I guess in looking back on that time, what was some of the biggest lessons that you walked away from that experience with? [00:20:35][26.5]
Lauren: [00:20:36] Yeah, I mean, for me, I always stand on the morals and ethics and like what is going to drive me? I love going into new spaces where I'm, quote unquote the dumbest person in the room and learning as much as I can. And while I did really thoroughly enjoyed my time on Wall Street and everything that I learned, there were two distinctive things that I said, I'm leaving. One was the pay. I was only making twelve thousand dollars American US dollars while working on the floor, which was no money. And I was living in New York City, but I loved my job and I never complained about my pay. And that was what the pay was. And that was what other men that I worked with were getting paid as well. But I learned as I was leaving the floor that other companies on the floor, they are starting salary was one hundred and eighty five thousand dollars. And for anyone who I guess is wondering, like how that works, think of the New York Stock Exchange, just like the NFL. Right. So the NFL is an association. With a whole bunch of different teams and those teams set their pay, they set their rules, they set their standards, et cetera, et cetera. So that's how the New York Stock Exchange's we all talk and we speak to each other. But different rules and how things are done are going to be done differently depending on the team that you're on. So what that being said, I was only making 12000. So that was an easy, easy way for me to say I don't want to stay. But the second thing is I felt like my story went viral for a reason. And I still to this day, I'm now twenty six contemplate what that reason was for. But I really wanted to bring more awareness to making finance more easily digestible, relatable and being the new face of finance. I love Bloomberg, I love CNBC. I'm a nerd. Like I get off on those things, but I don't see and not even from like a young component I don't even see from a diversity component women, minority women being on TV or in this space making finance cool. And for me, that that became my mission and my purpose. And that's a lot of the work that I do today. [00:22:40][124.9]
Bryce: [00:22:47] So, Lauren, you're now, as you said, your story has gone viral and he's traveling the world as a keynote speaker and, you know, positioning yourself as an expert on on youth finance, women's finance and as you said, trying to make investing cool. What what are some of the trends that you're starting to see globally when it comes to youth finance, women in finance and sort of what are you trying to really address? [00:23:13][26.8]
Lauren: [00:23:14] I see one of the trends, especially with this pandemic, that that we are still very much in. Well, let me take a step back. So prior to the pandemic, I knew that a recession was coming. I didn't think that a recession was going to come from coronavirus. But I knew that we every 10 years, plus or minus, we we go into a recession. So we were due for one. I thought we would really be going into a recession based off of student loans, which I still think that we are very much due for a recession based off of student loans. But that's another story for another day. But what we have seen throughout history is during times when there is a recession, people spheres come out and they really lean on what is going to make them rich, especially in times when they are not doing so well financially. And so this was very much the catalyst, a mixture of so many things that people are very much leaning into a space where they want to become rich overnight. And then we all know that that's not how it works. And how do we do that quickly and how do we stay? And like this mindset of getting caught up in the speculation that we talked about earlier. So for me, I want to be the voice, the North Star that guides people through this and to realize that a lot of it is psychological. And if you are not mentally in a good place when it comes to finances, you are going to lean into any and everything that presents itself. As with crypto currencies, as wetbacks, as with name, anything under the sun that's happened throughout this pandemic. And so that's what I've seen a lot of the conversation and a lot of things that have come out of this twenty, twenty, twenty, twenty one year. And I can't wait to for us to get back to a place of normalcy where people are back to working, where they're where we could touch people again and be in person and not on Zoom calls. And until then, I don't know. I think I think we still have some dark days ahead of us. [00:25:12][117.9]
Alec: [00:25:14] So, Lauren, when you talk about, you know, getting right financially and then you can sort of avoid some of those hype stocks or, you know, main stocks or whatever the thought of the moment is, what are some of those things that everyone can do to start getting right financially? I guess both practically, but also psychologically? [00:25:32][18.4]
Lauren: [00:25:34] I think it's psychological. It's the first step. And how you do that, it's like being OK with living in your means, budgeting and saving. And everyone always wants to throw out those words. And how do you budget and save? And I've actually gone back and forth with, like even my team on social media and like, how can I give practical advice on how to budget and save? But the one thing is that everyone's financial journey is going to look completely different because everyone's financial situation is completely different. So to put something in a box and to say save, great. But like, is that really helping the masses? Probably not. I mean, the general rules, like the 50, 30, 20 rule, which, you know, but it for me, it's like psychologically being in a place of being OK with wherever you were at standing exactly wherever you're at and being OK. Being wealthy is a mindset. Being poor is a mindset. And people often don't love, you know, people saying that. But there's truth in that. When I was making twelve thousand dollars, I never felt like I was poor. Like I was happy. I was budgeting, I was eating every day. I was smiling. I was energized. I did over balance my account, which wasn't a great feeling, but I was at the time twenty two and it wasn't frequently. And every time it happened, I pretty much my heart would race so fast that I would say I wouldn't. I don't ever want this to happen again. But I knew that that was my situation, that time and space and day. I knew that that was not going to be my situation come a year or six months or even, you know, a month later. And once you get into a place and realize that one, if it sounds too good to be true, then it probably is. But to realizing that your situation today is not going to be your situation tomorrow. And if you can just ride the wave and immensely be in a healthy, good place, you won't get too caught up of what is going on in this world and letting that feed your your moves both financially and mentally. So before we can even talk about getting good with your finances, it's very much getting into a healthy psychological place of where you're at with your finances, if that makes any sense. [00:27:41][126.6]
Bryce: [00:27:41] Yeah, yeah. So, you know, often here at Equity Mates, once you've sorted your finances, a lot of our audience here in. Position where they want to do something with their money and actually start to build wealth, but we're confronted with the view often that investing isn't for me, so to speak, in inverted commas. How have you learned to break down that resistance when people obviously would say the same things to you? It's too risky. Stock market crashes, you know, how are you encouraging people to start investing when that time is right? [00:28:11][29.5]
Lauren: [00:28:11] I think the stock market is safer than investing in cryptocurrency. So maybe just making the argument on the latter, I'm like, what? But yeah, I mean, but but at the end of the day, like, don't invest more than what you have, like the only up five Dollars your name. Do you really want to be investing all five Dollars? Whatever you're investing, you're thinking about this long term i.e. anything over 12 months. So what that being said, you shouldn't be looking for that money. I rarely check. And this is a person who used to trade on the floor my own personal portfolio. I might check it once a quarter, maybe. Why? Because the money that I put in, I'm not looking for that money like I'm I'm looking for that money in five to ten years from now, and that's when I'll check. But other than that, I'm not following. Are we having like the Dow was down today? Like, if I did that, I would go insane. And so so do a lot of people as we know. So for me, it's just once you were in a place where you can start investing, don't give me all the reasons on why you can't. But also one of the reasons why you can is not to make quick money overnight. If you're doing that, then you're already doing something wrong of your investing with emotions. You're already doing something wrong. You want to come from a place of detachment. I have extra money. I'm not looking at this money. I'll look at this money in a year or so and let that be that you shouldn't be. You know, you can follow the markets. I do like I'm reading the news on a daily basis. Again, I'm a nerd about it, but I'm not checking what is actually in my portfolio or what's going on in my account because I'm not looking to get a quick return on that. And if anyone is looking to get a quick return, then, yeah, you shouldn't be investing because that's gambling. And if you want to gamble, you go ahead gamble. But that that's not investing. [00:29:57][105.6]
Alec: [00:29:58] Mhm. Yeah. Now learn your, you know, post Wall Street, you've been doing a lot, you've been the keynote speaker helping educate people which we've touched on. But you're also going into the media and your you're hosting a TV show called Going Public. And for people that haven't heard of the show, think of it like Shark Tank. But rather than watching other people invest, it lets you, the viewer, be Mark Cuban and invest in contestants companies as they prepare to go public with an IPO, which sounds like a really cool concept and something that I'm really excited for. So can you tell us a little bit more about the show and sort of what went into making it? [00:30:39][40.5]
Lauren: [00:30:39] Yeah, so Todd and Darren, they're the creators and they're all about democratizing the space when it comes to IPOs. And essentially what that means is we want to close the generational gap, wealth gap. We want to have conversations that empower people. And one of the ways to, quote unquote get rich or wealthy is to invest in pre-IPO companies, as a lot of people that are on Wall Street get the accessibility to do so typically, typically to invest in a pre IPO for a company, you have to be an institution. You have to have a net worth over a million. What this series allows viewers to do in real time is that you don't have to have a network of a million. You are everyday people who want to invest anyone over the age of 18. But you really get to hopefully invest in the next Amazon and you get to do it in real time. And you get to understand the story of five founders as we follow their story in real time and what it means to invest. Do your due diligence, understand why you're investing in the company as they get prepared to get listed at the Nasdaq. And I don't know. I think the show is so innovative. It speaks to everything that I've talked about since leaving Wall Street and what I've wanted to do. And I'm so excited to to to bring this to life and and to be on this journey with everyone, the the companies, Todd Darran, the creator, the producers, everyone. And I really think that we get to change this narrative and we're also seeing it done with other companies as well. Making IPOs more accessible is now become the trending topic, and I think it's wholeheartedly come from going public. We see it happening with Robin Hood. Robin Hood just announced a few weeks ago that they were going to allow their users to and pre-IPO invest in companies. And and I really think that going public has had a has had has put that in people's minds on how can we make it more accessible, because there's a lot of money that's being left out there that people just don't get access to. And I'm happy to be part of that and to change that narrative to Australians. [00:32:45][125.6]
Bryce: [00:32:45] Get to participate. [00:32:46][0.2]
Lauren: [00:32:47] Yes, everyone. Anyone over the age of 18? Yes, global, we want you guys, please. [00:32:53][6.0]
Bryce: [00:32:56] Are you able to share any of the companies that are going to be on the show or is that something that we're going to have to wait and see, [00:33:03][6.7]
Lauren: [00:33:04] something that you guys are going to have to wait and see? But I will say that companies. No, no, that's fine. And some of the companies there, they're absolutely amazing. Like they are a representation of what Wall Street should look like. Right. Like there's not just all old white guys, like we have women founders, we have men. We have so many different backgrounds, which I think it's just absolutely important. Like you want to invest in companies that are a reflection of you as I speak to two white men today. But but I am really proud of the companies that we have on the show. And I think it's a great reflection of the direction that we're trying to go into. So I'm excited, but yeah, more to come and we will be premiering in October. [00:33:47][42.6]
Alec: [00:33:47] Nice looking, though. It's very exciting. Put that in the diaries, I guess. Learn with with the IPO process. A lot of people get very excited about these shiny new companies that are coming to market for the first time. You know, new stories, new found as new opportunities through this show, through your time in Wall Street. What have you learned about assessing IPOs and what do you look out for that might indicate a good IPO compared to one that you may not be the best investment option? [00:34:16][28.7]
Lauren: [00:34:17] You know, I think valuations over the last couple of years have been crazy. I just don't even think like a lot of companies that are being listed, they their IPO plummets. And I think a lot of that speaks to the institutional investors that are going that are buying into these companies versus really getting a grasp on everyday common people on where this company stands in the world, which is why I think shows like going public or being in a place to democratize the space and really get to hear what everyday people globally. So not just Americans, Australians, everyone get to access on what these companies are. I mean, I think that we have definitely have been in a time of innovation where especially with tech startups like these things sound great. But when we're really looking at the valuations of a company, they're not I mean, we work is going to go public the rupiahs back, which is a whole nother thing. Why I don't believe in Spatz, but even before they were going to his back, they were going to, you know, premier and their valuations were completely off. You want to know why? Because it was one decision maker, one institutional client that was putting a lot of money into them. That that wasn't that wasn't that wasn't real. Like, where did we work actually stand in the world of things. And so I don't know. I'm curious to see how companies are going to do going forward. But I think if we give more accessibility to everyday people, we will get a true valuation of where companies stand. And so we won't see what we've been seeing with a lot of IPOs is them popping right when they list and then doing terribly as soon as they open. So that is that is the hope going forward. [00:36:05][108.3]
Bryce: [00:36:06] Mhm. Yeah. I'm certainly keen to see how this all plays out because the more you know it's, it's always a barrier. And we get so many people in the Equity Mates community as well, always asking how we can get access to IPOs before that pop. So you're really keen to see how this plays out. Laurine Unfortunately, we have almost run out of time. So firstly, a massive thank you for coming on. We do have three final questions that we always end with for our guests. But before we do, if our audience want to follow you or find out more information about what you're doing, what would be some of the best places for them to do so? [00:36:37][31.3]
Lauren: [00:36:37] Yeah. So you guys can follow me on LinkedIn at Lauren Cement's. You also can follow me on my Instagram at L-A Cement's. And yeah, if you guys ever have any questions, please feel free to do me. I try to respond to as many messages as I can. [00:36:51][13.3]
Bryce: [00:36:52] Be careful what you wish for. Yeah. Yeah. No I'm massive. Thanks, but as I said, we always finish with the final three so we will get stuck in. Do you have any books that you consider. Must read. [00:37:04][11.9]
Lauren: [00:37:05] Let's see. Must read. I mean all of them are really self-help books because I'm really into that versus tech investing books which I know people are going to hate, but the one I'm actually reading right now. But Power of Intention by Wayne Dyer. Again, it's really changing the psychology and your mindset and how you think and what you eat and everything else. If you're looking for more techie books, honestly, I really don't know. Like, I've just I've never I've never actually picked up a like a finance book. Got everything I've learned. Everything I've learned is from Mike Bloomberg and CNBC recording in real time and then going back, listening to what they said and anything that I didn't understand, I would Google. I mean, that's what I did for about a year and a half, which I think. It's just way easier, but I'm a visual learner, so I guess it just depends on the type of learning style you have. [00:37:52][47.6]
Bryce: [00:37:53] Yeah, nice. So then in 60 seconds or less, what is the best what's the best company that you've ever seen? [00:37:59][6.7]
Lauren: [00:38:00] Oh, recently. [00:38:01][0.8]
Bryce: [00:38:02] ATSE Online. [00:38:03][1.2]
Lauren: [00:38:04] Yeah, they're really good when it comes to environmental issues. They really have a space for again, representation and everyone to have a voice on that platform. And I think that they're one of the leading retail companies at the moment. So I like a lot of their efforts and what they're doing. And also I don't really care for cosmetic companies, but I think Alaf is also doing a really good job as well. They have great paid family time leave off and they're really intentional with their hiring practices. And, you know, they are based on like vegging royalty free products. So I, I really love it. And then I know you said one. And then lastly, everyone's always going to say this, but Tesla, even if Elon Musk is a mad man, he's innovation wise, is is an incredible human being. I do think he is a master at being a market manipulator. But as far as the innovation, what he's doing, I think is absolutely phenomenal. [00:38:59][55.4]
Bryce: [00:39:01] Yeah. Let's separate the market manipulation from what he's doing with this business is unbelievable. And to close out, what advice would you give your younger self thinking back to when you were twenty two on the trading floor, even perhaps when you were starting school, what advice would you give to your younger self? [00:39:18][17.6]
Lauren: [00:39:19] Asking questions is not a weakness. And like shows that you're powerful and shows that you're curious. It's OK to not know all the answers. I was coming out of college twenty one and I felt like I needed to know the answers to everything. And now I'm twenty six and realize I don't know the answers to a lot of things and I don't know why I ever put that pressure on myself and also, you know, continuing to take a risk, which I already did. But I wish I wasn't so calculated in my head sometimes. And just, you know, I envy people who just, you know, just take a risk on a whim. I think it's it's so powerful. [00:39:54][35.0]
Bryce: [00:39:55] Mm. Nice. A great way to finish. Lauren, I know that there will be plenty of people in our community who have found your story very inspiring. And I encourage them to to follow you on social zol through LinkedIn and just continue following the work that you're doing. We certainly think that your ambitions to make investing cool and accessible is certainly something that we're trying to do here at Equity Mates as well. So thank you very much. Really appreciate your time. [00:40:20][24.8]
Lauren: [00:40:21] Thank you for having me. I really appreciate it. [00:40:21][0.0]