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My Worst Investment Ever Podcast

My Worst Investment Ever Podcast

Written by: Andrew Stotz
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 Welcome to My Worst Investment Ever podcast hosted by Your Worst Podcast Host, Andrew Stotz, where you will hear stories of loss to keep you winning. In our community, we know that to win in investing you must take the risk, but to win big, you’ve got to reduce it. Your Worst Podcast Host, Andrew Stotz, Ph.D., CFA, is also the CEO of A. Stotz Investment Research and A. Stotz Academy, which helps people create, grow, measure, and protect their wealth. To find more stories like this, previous episodes, and resources to help you reduce your risk, visit https://myworstinvestmentever.com/Copyright 2026 Andrew Stotz Economics Management Management & Leadership Personal Finance
Episodes
  • Ep820: Tony Martignetti – A Flattering Binder and $13,500 Down the Drain

    Ep820: Tony Martignetti – A Flattering Binder and $13,500 Down the Drain
    Apr 20 2026
    BIO: Tony Martignetti is the evangelist for Planned Giving fundraising for small- and mid-size nonprofits.STORY: Two years into building his business, Tony convinced himself he could become the nation's thought leader on planned giving fundraising — not just for nonprofits, but for all Americans. He walked into a swanky Midtown Manhattan PR agency, got dazzled by a four-inch binder, and signed up at $6,750 per month. Two months and $13,500 later, his only return was a single bylined op-ed in a free subway newspaper.LEARNING: Check your ego. Vet your big ideas with honest, trusted people before spending any money. Understand that PR, even when it works, rarely converts to actual revenue. "This was an ego investment. I did it for my vanity project. I got one placement in a giveaway newspaper on a federal holiday when nobody was in the subway. That was it." Tony Martignetti Guest profileTony Martignetti is the evangelist for Planned Giving fundraising for small- and mid-size nonprofits. Connect with him on LinkedIn.Check out Tony's free How-to Guide on Planned Giving Fundraising.Worst investment everTwo years into running his consultancy, Tony had a big idea. He didn't just want to serve the nonprofit sector; he wanted to reach all Americans and make planned giving a concept that everyday citizens (not just charity insiders) would understand and act on.To do that, Tony decided he needed PR, the kind that lands you on 60 Minutes and gets Charlie Rose calling.He found his way to a prestigious agency in Midtown Manhattan, far from his own modest office in the Flatiron neighborhood. They had an 80-story skyscraper overhead to match. At the pitch meeting, they brought out what Tony describes as a four-inch-thick three-ring binder, every page in a plastic sleeve. Client on The Today Show. Client on Good Morning America. Client on 60 Minutes. Client with Charlie Rose.All this sucked Tony in, and he bought it all—hook, line, and sinker. They kept feeding his ego. He signed on at $6,750 per month.What he got for $13,500After two months, Tony canceled the contract. His total return: one bylined op-ed in AM New York, a free newspaper distributed in New York City subway stations. The placement ran on Martin Luther King Day. A federal holiday when subway ridership was a fraction of normal on a Tuesday.No leads from Good Morning America. No call from 60 Minutes. No magazine profiles. No newspaper reporters are following up. Nothing promising on the horizon. Just $13,500 lighter and one op-ed that almost nobody read.Why the agency let it happenThe agency saw a solo entrepreneur with ideas far bigger than the media landscape could realistically support, and instead of managing Tony's expectations honestly, they kept stoking his enthusiasm to secure the fee. They should have talked him down to what's reasonable to expect. Instead, they completely mismanaged his expectations and kept feeding his ego to capture a fee.The fundamental problem was that Tony's ambition—to educate ordinary Americans about the value of nonprofits, then about the value of supporting them long-term, then to direct them toward specific giving vehicles—was a multi-step awareness campaign that no single PR placement could accomplish. It was simply too much to ask of the media.The uncomfortable truth about PR and revenueYears after the failed agency experiment, Tony had better PR results. He hired a skilled freelance publicist who secured quotes for him in The New York Times, the Wall Street Journal, and the Chronicle of Philanthropy, the leading trade publication in his sector. Reporters on the nonprofit beat came to know him and called him when they needed a source.And yet: not one new client ever picked up the phone because they saw Tony's name in the Times. This taught him a lesson: PR is more about reputation and awareness than revenue.Lessons learnedPR might get done right, and it still won't save you. It can build reputation and awareness over the years. It is not a customer acquisition channel.For early-stage founders, the honest question to ask before writing a large check is: Is this actually going to build the business, or is this about making me feel like I've arrived?Don't go check your idea with the people who are going to get a fee for capitalizing on your pie-in-the-sky idea. The people most likely to validate an idea are often the ones most financially motivated to tell you it's great. Lawyers, consultants, vendors, agencies—all have a stake in your enthusiasm. The honest input has to come from people with nothing to gain: trusted colleagues, mentors, or experienced friends who will tell you what they actually think.Andrew's takeawaysEgo investments are a universal founder trap. Almost every entrepreneur who has started a business has made at least one purchase driven more by identity and aspiration than by clear ROI thinking. Naming it "a vanity investment" is the first step to catching it before it costs you.PR almost never...
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    26 mins
  • David Siegel – The Agentic Economy: Why AI Agents Will Redefine Work and Wealth

    David Siegel – The Agentic Economy: Why AI Agents Will Redefine Work and Wealth
    Mar 23 2026
    BIO: David Siegel is a Silicon Valley entrepreneur who has founded more than a dozen companies. He has written five books on technology and business, was once a candidate for the dean of Stanford Business School, and is now an AI thought leader leading an AI startup he hopes will pave the way for the agentic economy.STORY: Nine months after David's last appearance on the podcast, the conversation has shifted from "what are LLMs?" to agents that act. 60-65% of NYSE trades are already fully machine-to-machine—a preview of where all commerce is headed.LEARNING: You don't need to know exactly how AI works, but you need to get in the game. "The biggest investment mistake everyone is making right now is not appreciating the exponential nature of what we're in and what is coming. The next 12 months will be nothing like any 12 months that have ever happened in human history."David Siegel David Siegel is a Silicon Valley entrepreneur who has founded more than a dozen companies. He has written five books on technology and business, was once a candidate for the dean of Stanford Business School, and is now an AI thought leader leading an AI startup he hopes will pave the way for the agentic economy.David joins the podcast for the fourth time and discusses his latest progress in AI with Andrew.The health reset before we beginBefore diving into AI, David opened with an invitation that even Andrew found surprising: a free online water-fasting event starting on April 20, 2026, with a preliminary strategy session on April 12.What is a water fast? David explains that it's not a diet or a weight-loss tool; it's a physiological reset. For three to six days, your body enters ketosis and "cleans house," activating suppressed systems and energizing you. David does this three to four times per year, emphasizing it's not a monthly practice but a strategic reset aligned with your health journey.The coaching program makes fasting easier and more fun through group accountability, with no obligation, just information to help anyone at any point in their health journey. Learn about fasting, or just join a group of people doing the same thing at the same time. It's designed for people from the West Coast to Europe. Please register for the event and feel free to invite anyone: https://us02web.zoom.us/meeting/register/Tk-zp9ZERomWb0643Sypmw.The agentic economy: what's coming in 20 yearsDavid's core message centers on a profound shift: we're entering the agentic economy, where machine-to-machine communication replaces human-to-website interaction. He notes that in 20 years, you won't shop on Amazon. There won't be advertising or marketing for humans. All those "Cialdini mind tricks" of urgency, storytelling, and Russell Brunson funnels will vanish. Everything will be machine-to-machine, just like the stock market today, where 65% of NYSE trades open and close in less than one second.Even driving will be prohibited because human reaction times cannot match the frequency of machine communication. We're in an awkward transitional period where humans and machines must coexist. Nobody likes it, but it's taking us toward a future where drudge work is automated.What is an AI agent?David clarified a critical distinction that many miss: LLMs (Large Language Models) talk back, type responses, and generate images and videos—but don't do anything outside your interaction.AI Agent, on the other hand, is an LLM connected to APIs that can actually take action: send emails, order meals, book travel, make purchases, and run ads. Think of it as a virtual remote assistant working 24/7 while you sleep.OpenClaw: The framework powering the revolutionOpenClaw (CLAW = agents, inspired by lobsters from a forward-thinking fiction book) is an open-source framework created by Peter Steinberger on GitHub. It connects LLMs (the thinking entities) to APIs (the conduits for doing).This is revolutionary because it allows AI to take real-world actions. Previously, AI was confined to conversation. It can now execute tasks across systems. David strongly warns that OpenClaw is highly technical and requires API configuration. It's not designed for humans to use directly. It's for engineers building agent infrastructure.The security risks nobody is talking aboutDavid explains that agents introduce entirely new cybersecurity vulnerabilities that differ from traditional threats, such as social-engineering attacks against agents. For instance, impersonation via spoofed emails: "David wants a trip to Phoenix, book a flight," or multi-day, persistent attacks in which bots repeatedly try to extract secrets.David's approach with Claw Studio is to use APIs rather than scraping. Wherever possible, he attaches LLMs to official APIs with guardrails. This is safer and more sustainable than screen scraping, which violates Terms of Service and risks a shutdown.How to get started (without blowing yourself up)David's advice is clear: Don't do it yourself. That's suicide. With great ...
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    50 mins
  • Athena Brownson – What Happens When Trust Replaces Due Diligence

    Athena Brownson – What Happens When Trust Replaces Due Diligence
    Feb 2 2026
    BIO: Athena Brownson is a Denver realtor, investor, developer, and former professional skier whose resilience through chronic illness fuels her refined, strategic, and client-focused approach to real estate.STORY: Athena lost $130,000 in her first development project when a builder she considered a friend vanished with the upfront funds. Her trust and incomplete due diligence led to a total loss, teaching her that personal relationships can create dangerous blind spots in business.LEARNING: Due diligence is non-negotiable. Trust is a liability. “A simple conversation with someone that we know, like, and trust is invaluable, because they can point out to us the blind spots that we may have missed in our excitement.”Athena Brownson Guest profileAthena Brownson is a Denver realtor, investor, developer, and former professional skier whose resilience through chronic illness fuels her refined, strategic, and client-focused approach to real estate.Worst investment everAthena Brownson entered her first development project with confidence and a seemingly dream team. With a 45-year veteran developer—her father—by her side, she felt prepared. She had saved diligently, owned the land, and chose a builder she’d known for three years, a dear friend’s business partner.After multiple interviews where her father asked all the right questions, they felt secure. They signed a contract and paid $130,000 upfront for site clearing, asbestos abatement, and foundation work.Initial excitement turned to unease as progress was glacial. A blue fence went up, and some abatement started, but then communication stopped. Phone lines went dead. Subcontractors began calling Athena directly, asking why they hadn’t been paid.The devastating truth emerged: the builder had vanished with the funds. Athena later discovered she was one of eight victims of the same scam. Despite her real estate expertise and her father’s decades of experience, they had been outmaneuvered by a trusted contact.Lessons learnedDue diligence is non-negotiable: Trust is not a replacement for verification. Athena’s key takeaway was the need for exhaustive due diligence: calling not just a few references, but a comprehensive list of past and current clients to hear the unfiltered story of their experiences.Friendship clouds judgment: A personal connection created a dangerous blind spot. It made her and her experienced team less likely to probe aggressively or assume the worst, a bias scammers often exploit.Assume the worst, hope for the best: The mindset must shift from “I trust you until you prove me wrong” to “Show me consistent, verifiable proof that you are trustworthy.” In business, healthy skepticism is a necessary form of self-defense.Measure twice, cut once: This adage applies to money and contracts. Double and triple-check every detail, every claim, and every line item before funds change hands.Andrew’s takeawaysMoney is life energy: Andrew referenced the classic book Your Money or Your Life, emphasizing that money represents hours of your life traded for it. Guarding it fiercely is an act of self-preservation.Trust is a liability: Stories like Athena’s and others show that misplaced trust is a common thread in catastrophic losses. Systems and verification must replace blind faith.Seek counsel, not confirmation: When making big decisions, actively seek advisors who will challenge you and point out blind spots, not just those who will validate your excitement.Actionable adviceAthena advises investors to do these three things when vetting any partner:Demand a list of 10 past and current clients/vendors and call them all. Don’t settle for 2-3 curated references. Ask specific questions about communication, budgeting, and problem-solving.Before major investments, formally run the deal by a small group of mentors or experienced peers whose explicit role is to find flaws and ask the tough questions you might be avoiding.Impose a mandatory 48-72 hour “cooling-off” period between agreeing to a deal and signing or funding. Use that time to conduct the extra due diligence that your initial excitement may have skipped.Athena’s recommendationsAthena’s number one recommendation is to invest in mentorship and continuous education. Whether through formal coaching, podcasts, masterclasses, or peer groups, constantly feed your knowledge.She advocates for finding a community that provides both accountability and the ability to see your own blind spots, which are invisible to you alone. For her, this approach, ingrained from her athletic career, is pivotal for professional growth and risk mitigation.No. 1 goal for the next 12 monthsAthena’s number one goal for the next 12 months is to deepen her impact by building a powerful, trusted referral network. She aims to serve more clients in building long-term wealth through strategic real estate and to expand her team. A core part of this mission is to pay forward the mentorship she received ...
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    32 mins
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