In this Vault interview, Phil and Danielle revisit a conversation with mindfulness expert Dawa Tarchin Phillips. His insights on leadership and mindfulness equip investors with the patience, clarity, and resilience needed for volatile markets. By integrating mindfulness into investing, he provides tools to stay focused and make rational, long-term decisions—essential skills for any serious investor.

For more inspiration from some of the investing world’s most brilliant minds, click here for Phil’s free guide to The Best Investors in the World: https://bit.ly/4haMBQ6

Topics Discussed:

• Empowerment Holdings
• IMTA
• Mindful Leadership Tribe
• Transformational Leadership Council

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As with anything in life, if we practice value investing for long enough, we’ll inevitably make some missteps. By reflecting on failures, we uncover insights and lessons that not only strengthen our decision-making but also help us grow as more informed and resilient investors.

On this Vault episode we look back on the troubled story of Horsehead Holdings, and Phil dives into his connection to the company and what he took away from his experience watching a business defy expectations.

If you’re looking for help with how to plan, save, and invest—at any age—make sure to get our free guide, Map Out Your Investing Journey: https://bit.ly/3DTy4qN

Topics Discussed:

• Horsehead Holding Corporation
• 13F filings
• 10-K reports
• Zinc industry
• EBITDA
• P/E ratio

Resources Discussed:

• GuruFocus
• DATAROMA
• Seeking Alpha

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As we close out 2024 and as InvestED nears its 500th episode, this week we’re looking back on an episode from very early in the show’s run. This Vault pull serves as an excellent primer to anyone who’s new to the show and gives a great overview of Rule #1/Buffett-style investing.

For some great year-ending insights into the mind of the Oracle of Omaha, click here for a free copy of Phil’s Warren Buffett Book of Quotes: https://bit.ly/3OEPXjL

Topics Discussed:

• Humanizing companies
• Crowdfunding and regulation
• Cash flow vs. earnings
• Certainty in investing

Resources Discussed:

• Payback Time

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Phil and Danielle check in to reflect on the holiday season and express gratitude for the support of all InvestED listeners throughout the year. As our hosts prepare for some vacation time to close out 2024, we want to share a warm reminder to cherish the season (while staying mindful of long-term financial goals).

Whether you’re new to InvestED or just looking to revisit some classics, click here for curated playlists featuring some of the best episodes from over the years: https://bit.ly/3MUOiFn

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Investing success hinges on finding antifragile companies—those that thrive in adversity and compound growth over time. Focusing on a few resilient businesses, rather than over-diversifying, leads to better long-term returns, especially during downturns.

Rather than timing the market, investors should prioritize companies with strong fundamentals and compounding potential. Patience and discipline are vital to benefit from their growth through adversity.

On this week’s show, Phil and Danielle discuss how to approach your investments having events and what the Rule #1 philosophy can tell us about these situations.

For help in planning out your investment journey in the year ahead, don’t miss your free copy of Phil’s 12-Month Financial Success planner:  https://bit.ly/45AP6Xh

Topics Discussed:

• Chipotle’s E. coli outbreak
• San Diego real estate problems
• Intrinsic value
• Antifragile businesses
• Emotion in investing
• Sprouts
• FOMO
• Tulipmania

Resources Discussed:

• All In
• Rule #1

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When you focus on what you know best, you gain a clearer view of potential investments. This clarity can help you navigate market shifts with greater confidence and resilience than when you’re taking on an investment with more unknowns.

In this episode, Phil and Danielle discuss how your perspectives can change over the years, and how expanding and refining your circle of confidence can use that change to your advantage.

If you’ve found your circle of competence and you’re ready to invest, click here for your free copy of How To Pick Stocks: The 5-Step Checklist for help with identifying which businesses are right for you: https://bit.ly/3ros8mU

Topics Discussed:

• Figuring out “wonderful”
• Qualitative vs quantitative analysis
• Continuous education
• Circle of competence
• Finding your “one thing”
• Rule #1 of investing

Resources Discussed:

• Groundhog Day
• City Slickers

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In fact, this applies even more to newcomers than it does to seasoned investors, as working with more capital can make it difficult to find impactful investments compared to a modest portfolio.  As you grow in your investing practice, those added complications can be countered by an expanded circle of competence and deeper market knowledge.

This week, Phil and Danielle discuss how an investor’s mental state and learned habits can aid their investing journey more than their sheer brain power.  They also dig into the ongoing antitrust trial over Google’s practices and what the outcome could mean for the tech world.

For more insights on the fundamentals practiced by Buffett and other investing greats, make sure to get your free copy of these 6 Market Crusing Investing Principles :  https://bit.ly/45szJ2v

Topics Discussed:

• Jim Simons/Renaissance Technologies
• Amazon founding
• Buffett’s change of heart re: Apple
• Reliance on China
• IQ vs hard work
• Circle of competence
• Google antitrust cas
• Lina Khan
• Differentiating between short- and long-term problems
• Fiat/Ferrari

Resources Discussed:

• Mohnish Pabrai on Ferrari
• Gemini (Google AI)

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A good starting point is using Google to gather basic insights—stock charts and financial summaries provide a broad overview. From there, explore their reports to assess transparency: are they forthcoming with information, or does it seem like they’re withholding details?

Finally, conduct a deep analysis to determine whether the company aligns with your values and investment philosophy.

In this follow-up to the previous episode's discussion, Phil and Danielle return to Terumo to talk through a recent application of their research process.

For help to find the right business to start your own deep dive, don’t miss your free copy of the “3 Circles” Exercise Guide:  https://bit.ly/3LOexg2

Topics Discussed:

• Buffett selling stock
• Treasury bonds and P/E ratios
• Boeing woes
• Rule of 72
• Terumo
• OTC companies
• 
  

Resources Discussed:

• All In podcast
• Rule #1 by Phil Town
• Invested by Danielle and Phil Town

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Discover why thorough research and decisive action are key to uncovering value in today’s fast-paced markets, offering timeless insights for smarter investing.

Join Phil and Danielle as they analyze Terumo, a leading medical technology company, and explore its fundamentals via key investment principles and the impact of consistency in financial data.

To learn more about the philosophy behind Rule #1, click here for sample audiobook chapters from our NYT best sellers: https://bit.ly/3N21M18

Topics Discussed:

• Thanksgiving
• Terumo
• Increased access to information
• Rule of 72
• Windage

Resources Discussed:

• InvestED on YouTube

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While there’s something to be said for limiting unnecessary impulse buys, the benefit of small wins in our daily lives isn’t something that we should overlook.  While the #1 rule of investing is “don’t lose money,” it’s important for each investor to decide what “losing” money means to them.

Join Danielle as she checks in for the beginning of this holiday season and talks through her idea of what it means to set yourself up for success no matter what.

For a better understanding of your own investing profile, click here to take the Rule #1 Investing Personalities Quiz:  https://bit.ly/468F8eW

Topics Discussed:

• Gift giving
• “Either way” account

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After several weeks away from the podcast studio, our hosts are back together to cover their tumultuous October. From incapacitating sickness in Europe to lively nuptials in Belo Horizonte, all set against the backdrop of one of the wildest election seasons in recent US history, it’s been an eventful autumn.

Phil and Danielle also speculate on the potential economic forecast under the next administration, and what deficit spending from either party could mean for future markets. Following years of high inflation, what results could more government spending bring in the years ahead?

Valuation is a critical part of the investment process. For help with calculating a company’s market capitalization so that you can make smarter investing choices, click here for your free copy of Understanding Market Capitalization: https://bit.ly/44p1xE9

Topics Discussed:

• The Algarve
• COVID-19
• Brazilian weddings
• Chuckwalla Valley Raceway
• Porsche Owners Club
• The 47th presidential administration
• Government spending
• Inflation hedges
• Nixon and the gold standard
• Carter and interest rates

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Although global events like wars in Ukraine and the Middle East have shaken the stock market, Phil argues that uncertainty in the investment climate presents the best opportunities for investing.

Tune in to this episode of InvestED where Phil and Danielle discuss when and if you should invest in an uncertain investing environment, how to take advantage of lower prices, and how to find antifragile companies.

Learn where to find antifragile companies with Phil Town’s Ultimate Stock Market Crash Survival Guide. Get your free copy of the guide now: https://bit.ly/3xNXFlf

Topics Discussed:

• Investing with uncertainty
• Finding antifragile companies
• Markets responding to the war in Ukraine
• Depressions and recessions
• Inflation and buying power

Resources Discussed:

• Ray Dalio signaling 100 year depression
• Antifragile: Things That Gain from Disorder

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Many people struggle with this due to stress, market fluctuations, or other distractions. Managing your emotions is key to making rational investment decisions, which depends on how well you take care of yourself. Stress and fear lead to poor choices, so practice staying mindful, whether through meditation, exercise, or reading, to keep a clear head and avoid emotional decisions.

On this Vault episode pulled from the last presidential election cycle in the US, Phil and Danielle discuss the negative effects of stress on one’s investing practice and how mitigating that stress can improve your well-being in addition to your portfolio.

For more help with avoiding costly investing mistakes, click here to get a free copy of 10 Do’s and Don’ts of Successful Investing: https://bit.ly/3XyEDbD

Topics Discussed:

• COVID-19
• Li Liu
• Self-improvement and self-discovery
• Ralph Lauren
• Tesla
• Circle of competence
• Dealing with stress
• Transcendental meditation 

Resources Discussed:

• The Seven Storey Mountain
• For Love of the Game
• Turtles All the Way Down

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Given the global dominance of some of the big tech companies in 2024, it might seem like the Amazons and Googles of the world are here to stay. However, issues like misplaced investments, anti-competitive behavior, and a myopic view of the future have seen industry giants topple in the past.

This week, Phil and Danielle grapple with the growth dilemma faced by successful companies, and what that can mean for your portfolio as a value investor.

To see more sustained growth in your own investments, click here for your free copy of the Rule of 72 Cheat Sheet: https://bit.ly/47awVb6

Topics Discussed:

• The American Dream
• Investing in “big” companies
• City life vs small town life
• Competition and ethics
• Sprouts
• TikTok

Resources Discussed:

• The Anxious Generation by Jonathan Haidt

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As stakeholders in a business, investors don’t just own a stock—we own a portion of the actions that are taken by that company.  With the rise of the internet and easier access to up-to-date information around the world, the social component of investing has become a major factor for many in the market.

In this continuation of last week’s topic, Phil and Danielle discuss the headquarter dilemma that some corporations are wrestling with and weigh the costs and benefits of activism in the corporate sphere.

If you’d like to gauge your own investing knowledge and learn how to improve your investing practice, click here to take the Rule #1 Investing IQ Quiz:  https://bit.ly/3XL7URR

Topics Discussed:

• Corporate tax rates
• Companies moving out of the US
• Apple’s Ireland woes
• Business ethics in investing
• DEI initiatives/reversals
• Bud Light controversy
• ESG

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The ultra-wealthy, facing heavy taxation, often protect their assets through investments, relocating funds, or even engaging in deception. Meanwhile, multinational corporations hold immense power, frequently manipulating markets and governments, creating widespread challenges for economies and individuals.

Staying abreast of developments in this nascent field is beneficial to investors, as the volatility in crypto markets can distort valuations and complicate the search for long-term investments. In this week’s episode, Phil and Danielle delve into the crypto scene and discuss how the tech sector seems to always be a step ahead of regulators.

For further resources in identifying a company’s long-term trajectory, click here for your free copy of The 5 Moats Investment Guide: https://bit.ly/3Kmb33J

Topics Discussed:

• Daily dives into trade publications
• Tether
• Goldcoin
• Apple’s Ireland tax troubles
• Coach/Michael Kors merger

Resources Discussed:

• WSJ
• NYT
• Barron’s
• All-In Podcast

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In last week’s Vault episode, Phil and Danielle explored this issue through the lens of Liberty Media Corporation’s acquisition of Formula One Racing. Building on that discussion, they take a deeper dive into using the 10 cap formula to uncover a company’s true value—debt included—and help investors make smarter decisions.

They also touch on the inherent unpredictability of investing, using Tesla’s past and future as a prime example of the uncertainty you should always anticipate.

For some Rule #1 tips on dealing with debt in your own financial life, don’t miss your free copy of our Get Out of Debt Checklist: https://bit.ly/3TjolSK

Topics Discussed:

• Value Investing
• Factoring debt into investment opportunities
• The 3 Fs of shorting
• Unpredictability in investing

Resources Discussed:

• InvestED by Danielle and Phil Town
• Investing Lessons from Formula 1

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Take Formula 1, for example. Owned by Liberty Media Corporation, it stands out as a rare opportunity for sports fans to invest in the sporting world. But is it a wise addition to your portfolio?

Phil and Danielle explore the increasing popularity of Formula One and discuss the factors that could make stocks like this a good fit for your investment strategy.

They break down the first step of their investment approach, using Formula One's background as a case study to demonstrate why it’s essential to fully understand the business behind any stock before making a purchase.

If you want a greater degree of certainty with your next investment, download The Four Ms for Successful Investing for help finding the right business at the right price: https://bit.ly/3LhVUAR

Topics Discussed:

• Warren Buffett’s investing strategies
• Value investing
• Real-life investing
• Investing in Trusted Management
• Formula 1 Stock

Resources Discussed:

• The Innovation Stack
• Bill Ackman’s 8 Principles
• Phil’s Go-To Investing Checklist

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With some businesses updating their former “lifetime” warranties to cover shorter periods of time, how can we know whether those changes are due to declining quality or potential abuse from customers trying to take advantage?

Join Danielle as she takes a look at a new policy from one of her favorite companies, as well as some other examples from well-known companies, and what that means for the value investor.

If you’re in the early stages of your investing journey, click here for a free copy of The Complete Guide to Investing for Beginners: https://bit.ly/3MBzewf

Topics Discussed:

• lululemon warranty policy change
• Aldi
• Dr. Martens
• Patagonia return/repair policy

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Likewise, the same issues that can arise in interpersonal relationships–keeping secrets, communication breakdowns, divergent goals–can lead to deterioration of trust and change the dynamics of what would otherwise be a long-term investment. It is critical for successful value investors to have the ability to reevaluate positions when new information comes to light, regardless of their prior feelings about a given company.

This episode of InvestED finds Phil and Danielle offering a candid analysis of recent developments in Phil’s own investments, and what lessons can be learned when you’re buying into a business with the objective of holding it through the ups and downs that come over the years.

Whether you’re seeking a new company to buy or deciding whether an existing investment is staying true to your initial assessment, get your free copy of the Must Have Investing Checklist to avoid unnecessary risk in your portfolio: https://bit.ly/49bSWZ7

Topics Discussed:

• Paris Olympics
• Athletic sponsorships
• Bank OZK concerns
• Difficulty in reevaluating positions
• VIX

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While the financial, societal, and cultural contexts have drastically changed over the course of three and a half decades, the underlying business principles and inherent behavioral characteristics can offer insights into how wise investors can find success during times of uncertainty in the modern world.

This Vault episode offers us a glimpse into both the recent and not-so-recent past as Danielle considers how a post-pandemic world can benefit from Buffett’s wisdom following one of the most volatile decades of the 20th century. 

For help with protecting your investments in unstable markets, get your free copy of the Rule #1 Inflation-Ready Checklist: https://bit.ly/3yyrDdS

Topics Discussed:

• Berkshire Hathaway shareholder letters
• Inflation in the 70s/80s
• Indexing investments to inflation
• Investing into companies with little debt
• Prioritizing gains in purchasing power over earnings
• Post-housing bubble concerns related to 30 years prior
• Anti-fragility

Resources Discussed:

• DanielleTown.com
• Buffett’s 1979 letter
• Buffett’s 1980 letter
• Buffett’s 1981 letter
• Buffett’s 1983 letter
• Buffett’s 2010 letter

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Additionally, aligning investments with personal values and the way you see the world ensures that your portfolio reflects your beliefs and principles. With a limited lifetime portfolio, it’s crucial to balance passion-driven investments with those that have a solid track record of stability and growth. It makes sense that many people are drawn to flashy consumer-facing businesses, but those aren’t necessarily the best move for every investor.

In this continuation of the utility of expert networks, Phil and Danielle discuss how and why value investors might place restrictions on their research process in order to find the best companies to buy, even if it doesn’t fully match their personal passions.

If you’re searching for the next business to add to your portfolio, click here for an assortment of Rule #1 investment calculators that can help you identify key metrics in your research process: https://bit.ly/3A57OeC

Topics Discussed:

• Expert help
• “Buying companies” vs buying stocks
• Buffett’s punch card
• 10-K reports

Resources Discussed:

• SBA SCORE network

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However, you're not guaranteed to get completely reliable or unbiased information, so it's important to stay prudent and do your own research to make well-informed investment decisions. The knowledge and advice coming from the person you speak to can depend on the caliber of vetting taking place or the hourly rate you’ll be asked to pay, so the value of these networks will change depending on the specifics of your own investing goals.

Listen in as Phil and Danielle discuss the merits and drawbacks of these networks, who they might be best suited to help, and where they’ll be taking this conversation in the weeks to come.

To get some expert help directly from Rule #1, make sure to grab your free copy of How to Pick Stocks: The 5-Step Checklist: https://bit.ly/3ros8mU

Topics Discussed:

• Micro-cap companies
• Expert networks
• Manipulating financial statements

Resources Discussed:

• SBA SCORE network
• TEGUS
• Knowledge Ridge
• Damodaran on Valuation
• Understanding Financial Statements
• Financial Intelligence

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With billions of dollars on the line at times, there’s no limit to what some people will do to see their companies achieve success, regardless of the ethics involved. Therefore, one of the best tools we can have in our toolbox is knowing how to spot red flags and steer clear of the deception and fraud that can fool even the savviest investor.

In this week’s episode, Phil and Danielle tell us how “being a reporter for your own newspaper” is not only among the more interesting aspects of investing, but why it can safeguard your portfolio and avoid costly missteps.

To know exactly where to start when researching companies to invest in, don’t miss out on your free copy of Phil’s Value Investing Cheat Sheet: https://bit.ly/3QeCCje

Topics Discussed:

• Oliver White
• Confirmation bias
• Terrence Howard’s questionable math
• Peer review
• Scuttlebutt investing
• Theranos

Resources Discussed:

• Bad Blood: Secrets and Lies in a Silicon Valley Startup

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Investing involves betting on the future of the country where you place your money, making a comprehensive worldview essential for success. While some may dismiss those without formal education in a specific field, unconventional thinking can offer unique and valuable insights in the investment world.

On this week’s episode, Phil and Danielle take a look at the frontier economics of Daniel Boone, and how going outside the bounds of investing and finance can be a huge advantage for value investors.

To learn how to better plan, save, and invest at any age, click here for a free copy of Rule #1’s guide Map Out Your Investing Journey: https://bit.ly/3DTy4qN

Topics Discussed:

• July 4th
• The importance of reading broadly
• Daniel Boone/Westward expansion
• Buffett on betting against America
• Confirmation bias

Resources Discussed:

• Last of the Mohicans
• Irrational Exuberance
• JRE with Terrence Howard and Eric Weinstein

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Few investors have understood this as well as Warren Buffett and his team at Berkshire Hathaway. With Munger having recently passed and Buffett offering insights into his twilight years as the world’s premier value investing superstar, what does the future hold for BH with the potential for a huge shakeup in leadership?

This week finds our hosts back in the “studio” to discuss the question of succession planning at Berkshire Hathaway, and what that means for the value investor and the market at large.

For more knowledge from some of the most successful minds in value investing, click here for your free copy of The Best Investors in the World: https://bit.ly/3DhbmIS

Topics Discussed:

• Instagram
• Dataroma/Gurufocus
• Li Lu and Timberland
• Institutional imperative at Berkshire

Resources Discussed:

• The Intelligent Investor

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In this week’s truncated “tidbit episode,” Danielle reminds us that every conversation can be an opportunity to dig a bit deeper into an unfamiliar subject, and that a good value investor keeps their eyes, ears, and mind open to the wealth of knowledge and perspective that comes from the people in their life.

To get a handle on your own investing practice for all 4 seasons, don’t miss out on your free copy of Phil Town’s 12-Month Financial Success Planner: https://bit.ly/45AP6Xh

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A short squeeze occurs when investors betting on a stock's decline are forced to buy shares to cover their positions, driving the price up further. This phenomenon was vividly demonstrated with GameStop, causing substantial losses for hedge funds and prompting a regulatory response.

In this week’s throwback episode, we check back on the early days of the ongoing GameStop/Reddit saga to see where it all began.

To discover your investing weaknesses and learn how to manage your money smarter, click here to take the Rule #1 Investing Personalities Quiz:  https://bit.ly/468F8eW

Topics Discussed:

• Reddit
• GameStop
• Robinhood
• Shorting stocks
• SEC regulation

Resources Discussed:

• Chamath Palihapitiya interview

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Understanding your own strengths and being able to identify the fields that are of interest to you are crucial components of a fruitful investing practice, and maintaining a limited scope in your research and analysis can help you maintain focus and avoid wasting energy on superfluous data.

This week, Phil and Danielle take a look (and listen) to the latest Berkshire Hathaway shareholder meeting and discuss some key takeaways from one of value investing’s most important financial summits.

If you’d like to evaluate your investing knowledge, discover areas for improvement, and enhance your investment strategies, click here for the Rule #1 Investing IQ Quiz: https://bit.ly/3Faf7ks

Topics Discussed:

• 2024 Berkshire Hathaway Shareholder Meeting
• Market indices
• The importance of mentorship
• Investing in your interests
• Circle of competence

Resources Discussed:

• The Intelligent Investor
• Moody’s Transportation Manual
• Value Line

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As investors the world over grapple with the rapidly changing financial landscape, where ETFs, meme stocks, and cryptocurrencies are all carving out their own space in a well-established ecosystem, how do value investors gauge the future of a business?

While some might see these changes as a massive disruption to the market at large, there are others who, from a Buffett perspective, see the same cycle of boom/bust/reset playing out as it’s done so many times in the past.

This week, Phil and Danielle continue from their jumping off point of the cosmetics industry to tell us why the difference between growth and value stocks isn’t nearly as significant as establishing the value of the business in order to plan for the future.

For some great tips on what to do (and what not to do) when building your value investing portfolio, click here for your free copy of 10 Do’s and Don’ts of Successful Investing:  https://bit.ly/3XyEDbD

Topics Discussed:

• P/E ratio
• Wall Street vs value investing future outlook
• Growth stocks
• Intrinsic value
• ETFs

Resources Discussed:

• The Weather Matrix

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With market stability and consumer confidence taking hits in recent years, small luxuries like makeup continue to do well despite the struggles of luxury brands in general.  With the success of some niche brands in this highly competitive and specialized sector of cosmetics, what does the weather look like for some of the more established players in the makeup industry?

This week, Phil and Danielle wrap up their discussion about the beauty industry and the way that boutique brands might affect the bottom line for the big names in cosmetic products.

If you want a huge clue as to whether or not you’re looking into a business that will deliver predictably strong returns, don’t miss out on your free copy of The Big 5 Numbers Guide:  https://bit.ly/3psMESQ

Topics Discussed:

• ETFs
• Augustinus Bader
• Victoria Beckham Beauty
• Ulta
• Sephora
• Kering
• LVMH
• D2C vs retail
• Cosmetic science

Resources Discussed:

• Lisa Eldridge

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For value investors, having a strong understanding of a business’s weather, i.e. their moat, competitive advantage, and other factors that determine their long-term success, is paramount to generating returns on a multi-year timeline. From the Rule #1 perspective, that’s the key difference between investing and simply gambling on the market.

After a few weeks’ break on the subject, Phil and Danielle return with part 1 of an extra long 2-part episode breaking down the weather of the makeup industry giant Ulta, and share some of their insights into their own weather analysis of their history with this business. 

For help identifying the durable advantage of a company you’re looking to invest in, click here for your free copy of The 5 Moats Investment Guide: https://bit.ly/3Kmb33J

Topics Discussed:

• Primary market vs Secondary market
• CFO CEOs
• Ulta
• Augustinus Bader
• Victoria Beckham Beauty

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With the inevitability of market downturns, finding a balance between generating returns and being ready to strike when the iron is hot can be a tricky position to navigate.  Discovering that equilibrium, along with the patience to hold on through the ups and downs once you’ve bought into a great company, can be what makes or breaks a portfolio in the long run.

On this week’s episode, the deep analysis of the 2023 Berkshire Hathaway shareholder letter continues as Phil and Danielle wring every ounce of wisdom from Buffett’s annual communiqué..

For help with future-proofing your portfolio, click here for a free copy of The Ultimate Stock Market Crash Survival Guide:  https://bit.ly/3xNXFlf

Topics Discussed:

• Munger’s influence on Buffett’s philosophy
• Investing in the information age
• Mutual funds vs ETFs
• Modern market volatility
• Forgoing returns to prepare for downturns

Resources Discussed:

• Berkshire Hathaway shareholder letter
• Wilshire GDP ratio

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Knowing the difference between having confidence in your investing process and being arrogant or blindly confident in a position can allow investors to act on proven strategy as opposed to being driven by fear and emotion.  Having a long-term outlook and a diligent methodology is the way for capable value investors to find the deals and realize the returns that many others in the market get wrong.

This week, Phil and Danielle tackle another constant issue for investors as they dig into when, how, and why you should (or shouldn’t) stick with a purchase that doesn’t seem to be panning out the way you’d suspected.

For help finding businesses that you feel confident investing in, click here for the “3 Circles” Exercise Guide:  https://bit.ly/3LOexg2

Topics Discussed:

• Patience and discipline in value investing
• The dangers of hubris and confirmation bias
• Informed assumptions vs speculation

Resources Discussed:

• Berkshire Hathaway shareholder letter (2013)

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After the growth and maintenance expenditures are accounted for, the way a company deploys its additional capital can signal the strength of management and the potential for future returns. As Buffett tells us in his recent letter, once you’ve got companies that check all of the boxes he’s looking for, this is the icing on the cake.

Join Phil and Danielle as they continue their analysis of this year’s shareholder letter from Berkshire Hathaway, pulling out key takeaways that might’ve been overlooked by some readers.

For help in crunching the numbers in your investment research process, click here to get your free Rule #1 Calculators for Investing Analysis: https://bit.ly/42dBHSn

Topics Discussed:

• Individual values in investing
• Entrepreneurship
• See’s Candy
• Operating cash flow
• Growth/maintenance capital expenditure
• Rare companies

Resources Discussed:

• Berkshire Hathaway shareholder letter

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In a world full of people rabidly vying for your attention in every imaginable arena, knowing how to focus that attention on what’s important while weeding out the noise of the pundits and snake oil salesmen is what separates successful investors from the rest of the pack.

In this week’s show, Phil and Danielle get a bit more granular on the most recent Berkshire Hathaway shareholder letter and discuss what separates Bertie Buffett from her competition.

To get the inside scoop on more ways industry leaders mislead investors, click here for your free copy of The 3 Greatest Stock Market Myths Ever Told: https://bit.ly/45NycoE

Topics Discussed:

• Flashy and half-baked or simple and flawless
• Simplifying the research process
• Snowboarding lessons for investing
• Typical CEO letters
• Punditry vs information

Resources Discussed:

• Berkshire Hathaway shareholder letter

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In these times of inflation, shrinkflation, and other types of -ations that we’ve yet to ascribe catchy names to, some brands are seeing once-loyal customers jump ship and look for better value as prices rise. While some brand relationships can’t stand the test of time, perhaps we can look to the long-lasting friendship and business partnership of Warren Buffett and Charlie Munger for inspiration.

In this week’s episode, Phil and Danielle are back to talking from different continents (and dealing with the inherent technological mishaps of that setupt) as they discuss what constitutes a brand moat, and how strong that supposed moat can be in moments of economic instability.

Think you know Warren Buffett as well as the people who’ve spent decades building Berkshire Hathaway with him? Take our Buffett quiz and find out for yourself: https://bit.ly/43qtOLz

Topics Discussed:

• Jackson Hole, WY
• Heliskiing/snowboarding
• Unilever dumps Ben & Jerry’s
• Brand moats
• Buffett and Munger’s friendship

Resources Discussed:

• Cambridge Long COVID study
• Berkshire Hathaway shareholder letter

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But remember, while dividends offer stability and returns, they're not without their tradeoffs. We'll uncover the complexities of managing dividend-paying companies and navigating potential risks. Tune in to learn how to strike the balance between steady returns and prudent risk management in your value investment journey.

Keep in mind the Rule #1 that’s the namesake of Phil’s company: “don’t lose money.” Click here for a deeper examination of that rule that’s helped so many value investors over the years: https://bit.ly/43jTNEr

Topics Discussed:

• Weather Matrix
• Ben Graham’s Margin of Safety
• RULERS
• Compound return
• Free cash flow (FCF)
• Maintenance capex

Resources Discussed:

• Berkshire Hathaway shareholder letter
• Email us your questions!

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To become a top-notch Rule #1 investor, having a well-defined investing strategy is essential. It starts with crafting a compelling narrative for the company you're eyeing and understanding why it's a stellar investment. But here's the twist: flip that narrative on its head and scrutinize the opposing viewpoint.

Challenge yourself to construct a case against the investment. If you can't, it's a sign that you might lack comprehensive knowledge about the company. When applying inversions to business acquisitions, consider formulating a robust inversion for every reason supporting the purchase.

Familiarize yourself with every argument against buying the company, surpassing even the short sellers' insights. Develop compelling rebuttals for each inversion, effectively nullifying them and proving the short sellers wrong!

Join Phil & Danielle in this throwback episode as they delve into the significance of inversion and highlight four essential aspects to contemplate when integrating it into your investing strategy. Click here for your copy of The Four Ms for Successful Investing: https://bit.ly/3LhVUAR

Topics Discussed:

• How to create a story
• Why you should always invert
• How to invert to own a business
• Four key points of inversions
• Relating to Chipotle and Gamestop

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Being able to stomach market fluctuations isn’t something that everyone is capable of, but the mindset of buying into a business with long-term goals of generating cash flow means buying with the confidence that you’ll be able to weather the storms that may, and often do, come your way.

As the series on the Weather Matrix continues, Phil and Danielle discuss the importance of being in the “high understanding” quadrant of this tool as you consider potential investments and how that position makes it easier for you to decide what to buy and what to reject.

For a leg up on practices for generating consistent returns, click here for your free copy of How to Pick Stocks: The 5-Step Checklist: https://bit.ly/3ros8mU

Topics Discussed:

• The power of compounding
• Vanderbilts vs Rockefellers
• Owner earnings
• Investments vs speculation
• Inverting
• Durable competitive advantage
• Pitch decks

Resources Discussed:

• David Einhorn’s pitch decks

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If jumping into the deep end of the S&P 500 seems like a daunting proposition, keeping your investing practice focused on a smaller scale can make the process of understanding “the weather” a much more manageable task. Keeping the boundaries of your research close to the boundaries of your own circle of competence can go a long way in terms of keeping the process from being overwhelming.

This week we join Phil and Danielle in a continuation of this series discussing their idea of business meteorology, a topic that has utility for everyone from investing novices to the most seasoned of financial forecasters.

To get started on your own Weather Matrix, click here for your free copy of The 5 Moats Investment Guide: https://bit.ly/3Kmb33J

Topics Discussed:

• Investing circle of confidence
• Intimidation in the research process
• Buffett on taking advantage of the moment
• Spotting warning signs
• Netflix vs. other streamers

Resources Discussed:

• The Weather Matrix (value/understanding)

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With decades of investing experience and a bit of basic mathematics, Phil explains a tool to classify companies into four groups based on their price/value ratio and the investor’s understanding of the business. If you find yourself getting bogged down or stuck in the weeds on your investing journey, this method could be the thing you need to streamline your research.

For more help calculating the ever-important metric of price vs value, get your free copy of Understanding Market Capitalizatin: https://bit.ly/44p1xE9

Topics Discussed:

• How much effort is too much effort?
• Accumulation of knowledge
• Price/value discrepancies
• Being prepared to “weather the storm”
• How to capitalize on market downturns
• Importance of repetition

Resources Discussed:

• The Weather matrix

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Whether you’re looking into a company’s direct competitors or doing a bird’s eye view of a whole market sector, knowing when to go deeper vs when to stop digging is an incredibly useful skill to have in the world of 21st century global finance. For the value investor, the ability to reliably ascertain the value of a business is crucial for finding the right moment for a good deal.

Listen in this week as Phil and Danielle ponder the age old question of “what is enough?” When it comes to your investments, where is the magic line between being adequately informed and wasting your time?

For a better understanding of a business’s future success, click here to get your free copy of The 5 Moats Investment Guide: https://bit.ly/3Kmb33J

Topics Discussed:

• Being paralyzed by the research process
• Netflix growth issues
• Evaluating a business’s moat
• Instinct in the investing process
• Change vs stability

Resources Discussed:

• Invested

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From government overregulation to corporate mismanagement, there are risks inherent to investing that we can identify and include in our analysis for a more complete picture of the economic landscape. Staying current with the news doesn’t just make for a good citizen, but a good investor as well.

Join our hosts as they discuss Argentina, Medicare, CEO compensation, and why all of those should matter to the value investor of the 21st century.

If you want to start the new year on the right foot, get your free copy of Map Out Your Investing Journey to mark your progress and plan for the future:  https://bit.ly/3DTy4qN

Topics Discussed:

• Inherent risks of investing
• S&P 500 and other market indices
• SEC rules
• Argentina/USA in the 20th century and today
• Governmental influence in economics
• GM borrowing to pay dividends
• Clinton’s executive pay reform
• When to stop researching (more next week)

Resources Discussed:

• Invested

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To start your new year by planning for the ones to come, click here to get a free copy of our “Rule of 72” Cheat Sheet and gain a better understanding of retirement planning: https://bit.ly/47awVb6

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Understanding the Federal Reserve's interest rate maneuvers and their correlation with inflation is vitally important for assessing investment opportunities. The intricate dance between interest rates and the economy can impact borrowing, spending, and investment behaviors, so it’s crucial to keep up with the Fed’s moves in order to plan ahead.

To stay prepared for any changes in inflation or to the market as a whole, claim your FREE copy of the Rule #1 12-Month Planner: https://bit.ly/31ImPCl 

Topics Discussed:

• Inflation
• The future of the economy & markets
• Supply & labor bottlenecks
• Wage increase
• Substitution

Resources Discussed:

• Federal Reserve Economic Data (FRED)
• FRED M1 Chart
• Shadowstats

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Join us as we explore the wisdom of investment gurus, uncover the power of "cannibal companies," and unearth the untapped potential of valuable spin-offs. As we look back on the life and lessons of one of the investing world’s heavyweights, we learn how these insights can elevate your returns to an entirely new level of success.

For more ways to bolster your portfolio, click here for your free copy of the Rule #1 Must Have Investing Checklist: https://bit.ly/49bSWZ7

Topics Discussed:

• Net-net investing
• Cannibal companies
• Apprenticeship

Resources Discussed:

• Security Analysis
• You Can Be a Stock Market Genius
• Avatar
• DanielleTown.com

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Rule #1 owes a debt of gratitude to Charlie and the wisdom he’s contributed to the investing community over the past several decades. The legacy he leaves behind—from his outsized impact on the business world to the Mungerisms he was so fond of sharing—will be irreplaceable to those who looked to his guidance in their practice of value investing.

For a peek into some of the sharpest minds that the field of investing has to offer, click here for Rule #1’s free guide to The Best Investors in the World: https://bit.ly/3DhbmIS

Topics Discussed:

• Charlie Munger

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By conducting thorough research and understanding the genuine value of investments, value investing offers a sense of security that traditional trading cannot. It's a method rooted in solid evaluation, making it a less intimidating option for those uneasy about the inherent unpredictability of investing and seeking a more stable approach.

This week, Phil and Danielle follow up the Thanksgiving holiday with a discussion on the importance of having a grateful attitude, and how being cognizant of the advantages and resources available to many who venture into this practice can have a positive effect on your mental (and financial) well-being.

If you’re feeling hesitant to take the plunge into the world of value investing, don’t miss your free copy of The Four Ms for Successful Investing: https://bit.ly/3LhVUAR

Topics Discussed:

• Fears about investing
• Retirement planning
• Swiss vs American social programs
• Societal factors impacting social mobility
• Ben Graham
• Value investing’s track record
• Importance of being grateful
• The power of the internet in investing
• Internet deserts

Resources Discussed:

• A Random Walk Down Wall Street
• Starlink

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We here at InvestED want to wish all of our listeners a safe and happy Thanksgiving break, and Phil and Danielle will be back next week to discuss food comas and all sorts of topics related to the exciting world of value investing.

To catch up on all of the must-listen episodes from our back catalog and get better connected to the world of Rule #1 Investing, click here for the Best of InvestED: https://bit.ly/3MUOiFn

Topics Discussed:

• Thanksgiving traditions for expats
• Food traditions
• Solo holiday tips

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While fear of being “wrong” on a position can be paralyzing for some, being willing and able to adapt to constantly shifting market conditions is a must for anyone looking to wade into the world of investing.

This week, Phil and Danielle talk about what it means to “get it wrong” in your investment practice and how that should (or shouldn’t) influence your decision-making process.

For more thought-provoking or debate-inspiring quotes from one of the world’s best investors, click here for the Warren Buffett Book of Quotes: https://bit.ly/3OEPXjL

Topics Discussed:

• Durable competitive advantage
• Mistakes vs. normal market occurrences
• Investing mindset
• Fear of failure in investing
• Understanding and preparing for risk

Resources Discussed:

• Rule #1 Investing

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For investors, recognizing the importance of founders is crucial. Founder-led companies tend to be more resilient and innovative than their competitors while having a unique focus on lasting success. Their leadership often results in strategic advantages, making such investments more attractive to value investors.

This week, Phil and Danielle discuss why having a central figurehead can be extremely valuable for companies, and how having the wrong person in such a crucial role can hamstring even the most promising of organizations.

To learn more about ways you could improve your own investing practice, click here for the Rule #1 Investing Personality Quiz: https://bit.ly/468F8eW

Topics Discussed:

• Indian Wells, CA
• Rebuilding VW engines
• Shake Shack
• Danny Meyer
• Sanderson Farms
• Apple in China
• Succession planning

Resources Discussed:

• Seven Samurai
• Eleven Madison Park

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Going public also exposes a company to scrutiny from shareholders and the public at large, which can bring heightened pressure to meet short-term financial targets at the cost of long-term strategic decisions. All of this weighs heavily into the consideration of whether or not a company should pursue an IPO.

After several weeks of discussing penny stocks, Phil and Danielle explore the reasoning behind why some companies choose to make this move while others are content keeping ownership private.

Make sure you’re covering all of your bases when looking to invest in a new business by getting your free copy of the Rule #1 Must-Have Investing Checklist: https://bit.ly/49bSWZ7 

Topics Discussed:

• Listing a company in US stock markets
• Microcap stocks
• Megacap stocks
• Raising capital for new businesses
• Pacific Exchange

Resources Discussed:

• Shake Shack
• Rule of 72

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For those willing to dig into the thousands of pink sheet stocks and do the necessary due diligence, the penny stock market can be a gold mine of prospective businesses that don’t get attention from the vast majority of investors. However, this entirely hinges on avoiding the countless scams and schemes that plague these unlisted stocks.

This week, Phil and Danielle return once again to the topic of pink sheet stocks and why they may or may not be worth your time and attention as a value investor.

If you’re in the early stages of your investing journey, don’t miss out on your free copy of The Complete Guide to Investing for Beginners: https://bit.ly/3MBzewf

Topics Discussed:

• Pink sheet stocks vs. OTCBB stocks
• Reverse stock split
• Issues of scale/accessibility

Resources Discussed:

• Got something you’ve been wanting to ask Phil and Danielle? Send it to questions@investedpodcast.com

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There are ways to approach investing at this level, and with the Rule #1 approach towards researching investments and analyzing price vs. value, the risk of speculation diminishes greatly when we’re buying into a company that we truly believe in.

On this week’s episode of InvestED, Phil and Danielle come back to the topic of penny stocks and discuss why the fundamentals of value investing can be applied to the smallest of companies in addition to the behemoths.

To understand more about the potential and reliability of a company you’re researching, click here to get your copy of the Big 5 Numbers Guide: https://bit.ly/3psMESQ

Topics Discussed:

• Price volatility
• Boiler rooms
• Bid/ask
• Activision/Blizzard acquisition
• Chick-Fil-A
• John Elway’s car dealerships
• GameStop

Resources Discussed:

• The Wolf of Wall Street
• r/wallstreetbets

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In this week's Vault episode, Phil and Danielle return to the topic from last week’s listener question to dive into a discussion about the distinction between investing and speculating. They also take a closer look at the concept of "risky investing" and why Rule #1 considers the term an oxymoron.

To see how your investing knowledge stacks up and find ways to improve your approach to the practice, click here to take the Rule #1 Investing IQ quiz: https://bit.ly/3Faf7ks

Topics Discussed:

• Buffett and Munger
• Depression-era investing
• The value of good management
• Venture capital
• Equity bonds
• Investing vs. gambling

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While many people look at investing as something akin to gambling, being a conscious value investor is vastly different from speculating, where the high risk is a fundamental aspect of the process.

In this week's Vault episode, Phil and Danielle delve into the distinction between being an investor and a speculator, highlighting just how crucial it is to truly grasp the nature of your investments. 

For an exercise that can help simplify your investing research process, click here for The “3 Circles” Exercise Guide: https://bit.ly/3LOexg2

Topics Discussed:

• Zürich pronunciation
• Investing/Sports analogies
• Investing as ownership
• Stocks vs. bonds
• Strategy for recessions
• Getting out early vs. late
• Making money vs. preserving money

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It’s hard to argue that a low cost of entry and the potential for high returns aren’t tempting, but the illiquidity of penny stocks and their heightened potential for fraud tend to be warning signs for value investors.

On this episode, Phil and Danielle share their opinions and experiences related to the penny stocks side of their investing journeys.

For help in finding the right businesses to see your investments generate consistent returns, click here to get your free copy of How To Pick Stocks: The 5-Step Checklist: https://bit.ly/3ros8mU

Topics Discussed:

• Surgery
• Penny stocks
• Netflix
• Fair Use
• Colombo Family fraud case
• Penny stock liquidity problems
• Microcap fraud

Resources Discussed:

• The Wolf of Wall Street
• Barbie

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Join Phil and Danielle as they recap their captivating journey through the stunning landscapes of Iceland on a quest to explore where their ancestors once called home. Journeying over land and water, from hot springs to breathtaking fjords, they traced the footsteps of their forebears to discover the stories that connect them to that land of fire and ice.

If you’re looking ahead to your future and thinking about living or vacationing in far-off, exotic places, click here for the Rule #1 Retirement Calculator to see if you’re prepared for life after work: https://bit.ly/3Zkye4F

Topics Discussed:

• Icelandic ancestry
• Touring Iceland
• Lifestyle of Icelandic homesteaders
• Risks of investing vs living off the land

Resources Discussed:

• Íslendingagbók
• North Iceland tours with Thor

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The Rule #1 method puts a focus on buying into a company at a discount based on fundamental analysis and holding it until the market reflects its true value, while simply picking stocks relies heavily on taking advantage of short-term fluctuations to capitalize on market movements. The risks of day trading are far greater than that of responsible value investing.

Join Phil and Danielle as they break down the disparities between these approaches, explain the philosophy behind Rule #1, and struggle to remember names of what they’re discussing.

The key to value investing is buying the right company at the right price—for some sound guidance on finding the perfect investment, click here for your free copy of The Four Ms for Successful Investing: https://bit.ly/3LhVUAR

Topics Discussed:

• Stock investing vs. value investing
• Modern portfolio theory
• Price vs. value
• Overthinking in investing
• Institutional imperative
• Multilevel Marketing
• Responsibilities of corporate governance
• The importance of due diligence

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We'll be back next week with a full episode, but for this week we hope that everyone's enjoying these last days of summer and appreciating the workforce that allows our investments to flourish.

If this change of seasons has you reevaluating your investing practice, click here to get our 12-Month Financial Success Planner: https://bit.ly/45AP6Xh

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As more shopping moves to the internet and the big box stores continue to streamline their operations with the help of big data, countless mom-and-pop stores are continuing to go under due to the inability to compete with the massive resources of this corporate competition and the stifling effect of regulations that these giants lobby for.

In this week’s episode, Phil and Danielle discuss the ethics and implications of investing in these big box retailers, and what their success means for the business community at large.

Comprehending a company’s market capitalization can help you make smarter investing choices—click here for your copy of Understanding Market Capitalization, our guide which can help you navigate this important and complex metric: https://bit.ly/44p1xE9

Topics Discussed:

• Research tangents
• Ethics of big box stores
• Activist intervention
• Ag-gag laws
• Predatory pricing
• Big box inflation
• The waterbed effect
• Microsoft monopoly lawsuit
• Tulsa dollar store ordinance

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In reality, there are an enormous number of factors that can affect whether or not a company is successful, especially in a capitalist system where they have a high degree of freedom to operate without being hamstrung by regulations.

While competition is an important feature in capitalism, it can also sap profitability from businesses when too much of their output is focused on separating themselves from their rivals. The key is finding businesses that have unique qualities that allow them to rise above the competition and carve out their own niche within their industry.

Join Phil and Danielle as they discuss the various ways companies find an edge in the cutthroat world of international big business, and how investors can use the data and tools available to discern who might come out on top.

If your investment research could benefit from tools that can help to simplify and streamline the process, click here for our free Rule #1 Investing Calculators: https://bit.ly/42dBHSn

Topics Discussed:

• Conditions under which companies can succeed
• Imperfect competition
• Swiss house cleaning customs
• Moat vs competitive advantage
• Calculating return on capital
• Tangible vs intangible assets

Resources Discussed:

• Glanbia
• Lululemon
• Sephora

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While all of these factors can seem intimidating for those looking to buy into foreign companies for the first time, it’s not an impossible task by any means – after all, companies in every country exist for the same reason: to make money.

This week on InvestED, a slightly worse for the wear Phil and Danielle dig into the process of researching a foreign company that was mentioned in previous weeks

Whether you’re looking to invest capital at home or abroad, these 6 Market Crushing Investing Principles can help give you an edge in your practice: https://bit.ly/45szJ2v

Topics Discussed:

• Risks of horseback riding
• Researching and weighing potential risks of overseas investments
• Similarities between investing and dating
• Irish business practices
• EU vs US corporate disclosures

Resources Discussed:

• Glanbia
• Exor

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With the myriad factors that dictate whether or not a company is worth investing in, we must take into account the additional considerations that are necessary when dealing with a company that operates within a different culture, language, and political/regulatory climate than the companies we encounter within our own countries.

With Phil and Danielle reunited following their summer vacations, these recent travels brought them back this week ready for a discussion about their own practices when it comes to foreign investments.

If thinking about international investments has you reaching for a guidebook, click here to get your copy of the Rule #1 guide to gaining financial freedom, Map Out Your Investing Journey: https://bit.ly/3DTy4qN

Topics Discussed:

• Researching companies overseas
• Analyzing trends and forecasting future developments
• How to compile and prioritize companies
• Finding enjoyment from the process

Resources Discussed:

• Seeking Alpha
• Glanbia
• Ryanair
• Kerry Group

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This week, we head back to the vault to hear part 2 of last week’s analysis of Bill Ackman’s investing checklist. This week, Phil and Danielle go into greater depth on the topic and discuss why it’s important to keep things simple with your investing.

To gain a better understanding of the moats your investments ought to have, click here for The 5 Moats Investment Guide: https://bit.ly/3Kmb33J

Topics Discussed:

• Irish companies
• The snowboarding of money
• Power structures of corporate governance
• The value of patience and humility in investing

Resources Discussed:

• Origin Enterprises
• I-RES
• Permanent TSB 
• AIB
• Bank of Ireland
• Kingspan
• Ryanair
• Smurfit Kappa
• CRH
• Glanbia
• Kerry Group

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Central to his strategy is the belief that exceptional companies boast simplicity and predictability, alongside a dominant market position and a limited exposure to intrinsic risk. By studying Ackman's successful investment strategies, one can glean invaluable insights into the world of finance, making it a compelling learning opportunity for investors of all levels.

In this week’s episode from the InvestED Vault, Phil delves deeply into Ackman's checklist, shedding light on its nuances and exploring why he himself has embraced this distinctive style of investing.

For further tips to boost your value investing IQ, click here to get your copy of Phil’s Value Investing Cheat Sheet: https://bit.ly/3QeCCje

Topics Discussed:

• Danielle’s recent travels and related recommendations
• Staying focused when broadening your investing practice
• Ackman’s checklist compared to Munger’s
• Common pitfalls for amateur investors
• Understanding your investments
• Barriers to entry

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With every passing year, it gets easier to invest outside of our own borders. However, the enticing potential of emerging markets and discovering relatively unknown companies is balanced by the risks associated with cultures, governments, and business practices that are foreign to those with a Western-centric mindset.

This week on InvestED, Phil and Danielle discuss the pros and cons of buying into companies overseas, and why many people are more comfortable keeping their investments close to home.

To expand the borders of your own investing knowledge, check out our guide of The Best Investors in the World to pick up some tips from top minds in every corner of the globe: https://bit.ly/3DhbmIS

Topics Discussed:

• Buffett on USA
• Living and investing outside of one’s country/region
• Michael Burry/The Big Short
• Listeners in Ireland: send company suggestions to questions@investedpodcast.com
• Euronext Dublin

Resources Discussed:

• The End of the World Is Just the Beginning
• Investment Biker: Around the World with Jim Rogers

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As the world becomes smaller, supply chains become more interwoven, and people’s expectations of immediacy grow, the future looks very uncertain. Following decades of relative peace, geopolitical jockeying has taken on a previously unseen context in a world where the chief rivals depend on each other for our modern way of living.

With declining populations ushering in a declining need for consumption, investors will have to adapt to this new era of global commerce in ways that many nations seem unwilling or unable to do. On this week’s show, Phil and Danielle discuss some of the unique aspects of the US, and what it means for America to get ahead of the demographic curve and avoid catastrophe.

Although this podcast doesn’t pick stocks, Rule #1 has these great tips available to help investors learn how to start generating generational wealth: https://bit.ly/3ros8mU

Topics Discussed:

• Ancestral immigration
• Munger on Musk
• Post-WWII hegemony
• European manufacturing changes

Resources Discussed:

• 1883
• The End of the World Is Just the Beginning
• The Intelligent Investor

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To keep the fireworks in the sky instead of your portfolio, check out our investing checklist, 10 Do’s and Don’ts of Successful Investing:  https://bit.ly/3XyEDbD

Topics Discussed:

• July 4th

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The first question is answered by the fact that none of this would function without human creativity guiding the process, and the second will be answered in a multitude of ways as this technology continues to be refined and democratized in the coming years..

This week on InvestED, Phil and Danielle are joined once again by AI expert Nuno Neves Cordeiro as they discuss the ways that investment firms are implementing open source machine learning processes to streamline the way they analyze data, as well as how the average investor can take advantage of this technology.

Click here for your copy of 5 Numbers to Determine a Smart Investment, Phil’s guide for discovering and calculating the numbers that matter most in your investments: https://bit.ly/3psMESQ

Today's Guest:

• Nuno Neves Cordeiro (LinkedIn)

Topics Discussed:

• LLMs
• Quant trading 
• AutoML
• Econometrics

Resources Discussed:

• ChatGPT
• Chaos Kings

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In the constant battle between businesses and the legislators trying to reign them in, the deck is often stacked against the little guy. Luckily, that’s not always the case, and successful investors know how to find every advantage possible to build a portfolio that can withstand market volatility.

This week on InvestED, Phil and Danielle answer some great questions they’ve received about how to find investing gurus that you can learn from. They’ll show you how to easily find the information you need from these investors, which will paint a clearer picture for you when it comes to your own personal investing journey..

To find out more about our investing philosophy, check out our NYT best sellers and get the first 2 chapters of each of our audiobooks: https://bit.ly/3N21M18

Topics Discussed:

• Index funds
• Pre-COVID Bitcoin
• Importance of following public filings of large scale investors
• Primary sources/secondary sources

Resources Discussed:

• EDGAR
• InvestED
• Dataroma
• GuruFocus
• Holdings Channel
• WhaleWisdom

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With the speed of technological development and the amount of resources available to anyone who wants to seriously pursue coding, the next society-changing app could always be right around the corner. As problems become more complex, so do the solutions–as well as the tech required to implement them.

This week on InvestED, Danielle talks with returning guest Nuno Neves Cordeiro about his journey to becoming an expert in the field of AI, and what that journey had in common with value investing.

To find out more about our investing philosophy, check out our NYT best sellers and get the first 2 chapters of each of our audiobooks: https://bit.ly/3N21M18

Topics Discussed:

• Learning to code
• Understanding and applying algorithms
• Process vs results

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However, the recent releases of some powerful AI tools has reframed the popular understanding of what AI really is, and the investing world has taken note. At times when technology takes an exponential leap forward, how can companies avoid being behind the curve?

Following some recent discussion about the prominence of artificial intelligence in the current cultural conversation, Phil and Danielle brought in an expert on the topic (Nuno Neves Cordeiro) to clear the air and answer some of their lingering questions and dispel some of the pop culture myths surrounding AI.

To clear up some other common market misconceptions, click here for a free copy of the The 3 Greatest Stock Market Myths Ever Told: https://bit.ly/45NycoE

Today’s Guest:

• Nuno Neves Cordeiro (LinkedIn)

Topics Discussed:

• Rule-based vs machine learning
• APIs and AI
• Fears about AI replacing humans

Resources Discussed:

• ChatGPT
• Bard

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Is the latest wave of machine learning composed of actual breakthroughs, or have users been fooled by elaborate systems of smoke and mirrors? Knowing the risks of involving artificial intelligence in the investing process is a tricky challenge to navigate, and one that seems to grow more complicated every day.

This week on InvestED, Phil and Danielle turn their sights back to AI and talk through the potential implications of computer brains and their effects on the financial world.

If you prefer a more traditional technological approach to your investing journey, click here for your Rule #1 Calculators for Investing Analysis: https://bit.ly/42dBHSn

Topics Discussed:

• AI hallucination

Resources Discussed:

• Bard
• ChatGPT
• BloombergGPT
• The Intelligent Investor

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This year’s meeting took place in the midst of a tumultuous period of post-pandemic supply chain disruptions, worldwide inflation, and the looming threat of the next big recession.

In the final episode of this three-parter, Phil and Danielle focus on the role of currency in the current economic crises facing the markets. Listen in as they break down the comments of Buffett and Munger and offer their own insights on the topic.

For more pearls of wisdom from the Oracle of Omaha, get your free copy of the Warren Buffett Book of Quotes: https://bit.ly/3OEPXjL

Topics Discussed:

• Currency in circulation
• Hoarding cash/luxury assets

Resources Discussed:

• FRED (Federal Reserve Economic Data)

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This year’s meeting brought a number of insights, both personal and business-related, from the leaders at Berkshire. What do some of the world’s most successful investors have to say about what guides their strategies in 2023?

This week on InvestED, Phil and Danielle dive deeper into the weeds of the Berkshire Hathaway shareholder meeting and share some wisdom of their own.

To mark your own financial progress and plan for the future, click here for your copy of Map Out Your Investing Journey: https://bit.ly/3WbuIbe

Topics Discussed:

• Porsche Owners Club
• Berkshire Hathaway shareholder meeting
• USA vs China
• Taiwan Semiconductor
• Stock buybacks

Resources Discussed:

• Damodaran on Valuation

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The weekend saw over 30,000 investors descend upon Omaha to hear from the megacorp’s leadership and vie for the chance to pose a question to some of the world’s most successful business magnates.

Covering topics ranging from AI and technology to geopolitics and the role of emotion in finance, the meeting’s Q&A session left attendees and listeners with a lot to digest.

On this episode of InvestED, Phil and Danielle break down their takes on Berkshire’s big gathering and parse the wisdom from a couple of value investing heavy hitters.

To learn more about Buffett, Munger, and others, click here for a free copy of the The Best Investors in the World: https://bit.ly/41kGW2g

Topics Discussed:

• Berkshire Hathaway Annual Shareholder Meeting
• President Biden’s stock buyback proposal

Resources Discussed:

• Starlink
• Invested
• The Intelligent Investor
• The Tractatus

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The meeting always makes waves in the investing world – whether it's two of the industry's titans sharing valuable insights and taking questions from attendees, or upwards of 40,000 shareholders having access to an incredible variety of networking opportunities.

On this week's episode, Danielle gives us a brief overview of what to expect in the upcoming meeting (as she and Phil watch the livestream).

To see how well you know the Oracle of Omaha, take our Warren Buffett Quiz: https://bit.ly/3HzseNB

Topics Discussed:

• Berkshire Hathaway Shareholder Meeting

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The latest iterations of chat AI tools range from fun gimmicks to incredibly useful tools, but it’s important to approach them with caution. Whether it’s limited knowledge, problems interpreting data, or even the occasional hallucination, these tools are far from perfect.

On this week’s episode, Phil and Danielle continue their discussion about ChatGPT and what the future could hold for a society dependent on AI.

For help avoiding mistakes and making smarter investing decisions, click here for you free copy of 10 Do’s and Don’ts of Successful Investing: https://bit.ly/40z6gkx

Topics Discussed:

• Robo-Advisors
• Chatbots
• OpenAI
• X.AI
• BloombergGPT

Resources Discussed:

• ChatGPT
• Bard

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The relatively young world of AI hold a huge amount of both potential, and also countless unknowns. What’s the utility of a tool with such a huge amount of information both good and bad, and how much can we trust that tool to discern the difference?

As financial corporations develop their own AI tools, the ability to take advantage of their power without succumbing to their weaknesses will be a difficult but crucial skill to master.

This week, Phil and Danielle take a look at the state of AI and machine learning in 2023 and the potential impact it could have on the investing world.

To find your own weaknesses as an investor, click here to take our Investing Personalities Quiz: https://bit.ly/40k6k7M

Topics Discussed:

• Rule #1/Value Investing
• SmartLess
• AI Hallucination
• BloombergGPT

Resources Discussed:

• ChatGPT
• Bard

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To examine this potential investment, it’s important to be equipped with the proper tools to complete a proper analysis. From reviewing time frames and understanding operations to gauging wider interest, gaining a comprehensive understanding of a company’s valuation is key in making wise purchases.

Join Phil and Danielle as they continue to follow a thread that was sparked by a discussion of helmets, but has since evolved into a lesson on why a seemingly great bargain might not be worth the risk.

If the idea of learning from some of the world’s most successful financial mentors appeals to you, click here to get your free copy of The Best Investors in the World: https://bit.ly/4129j5R

Topics Discussed:

• Vista Outdoor
• 13F Filings

Resources Discussed:

• The Innovation Stack

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With the gamification of investing in recent years, the idea of holding an investment for a lifetime is being presented as less appealing than the app-driven, short-term profit mentality.

Are you prepared to do the work up front so that you can feel confident in a less hands-on approach in the long run? By starting off with a careful analysis of these potential compounding investments, you can be less concerned with the day-to-day movements of the markets.

If you’re searching for possible compounders to add to your portfolio, get your free copy of Phil’s Value Investing Cheat Sheet for help with those first steps: https://bit.ly/3KvCsjT

Topics Discussed:

• Vista Outdoors
• Compounders

Resources Discussed:

• 100 Baggers: Stocks That Return 100-to-1 and How To Find Them

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When leadership is beholden more to shareholders than to their patrons, it can lead to wildly different outcomes regarding the security of their customers’ assets.

This week, Phil and Danielle continue to analyze the recent bank failures and discuss some of their problems with the structure of current financial systems.

For insight into how you can better research your next investment, get your copy of The Value Investing Cheat Sheet: https://bit.ly/3Z8PXdw

Topics Discussed:

• Silicon Valley Bank
• Public vs Private banks
• Amadeo Giannini/Bank of America
• White-shoe Law Firm

Resources Discussed:

• The Innovation Stack

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Unwise decisions from leadership compounded by market uncertainty and rising interest rates is certainly a recipe for disaster. How can we analyze these and other warning signs, like an over-reliance on a volatile tech sector, to anticipate and avoid future losses?

Join Phil and Danielle for a postmortem of SVB and a discussion of how its failure could impact value investors.

If you need help identifying warning signs of impending crashes, download your free copy of Your Ultimate Stock Market Crash Survival Guide: https://bit.ly/3YLope0

Topics Discussed:

• Rule #1 Investing
• Silicon Valley Bank
• It’s A Wonderful Life

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What are the best first steps to take when we stumble across a new company while browsing the web? If investors don’t want to be outside of their element or their ethical and moral boundaries, a few minutes on Google is time well spent.

This week on InvestED, Phil and Danielle continue the previous episode’s topic and take a deeper dive into the process of researching a new company.

For help setting up your own priority list, get your copy of How to Pick Stocks: The 5-Step Checklist: https://bit.ly/3kUBXWE

Topics Discussed:

• Circle of competence

Resources Discussed:

• Vista Outdoor

For show notes and more information visit www.investedpodcast.com

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With the sheer quantity of information that’s available to investors in the digital age, being able to sort the signal from the noise is a must.

This week on InvestED, Phil and Danielle discuss how viewing life through an investing lens can shape our experiences when we encounter something new.

For help picking winning investments and avoiding risky stocks, get your free copy of our Must Have Investing Checklist: https://bit.ly/3IZucI9

Topics Discussed:

• Helmets (MIPS)
• Research potential of the internet
• Public > Private shift
• CEO letters

Resources Discussed:

• Vista Outdoor

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From blue chip companies to venture capital, the options are limitless in terms of what modern investors can do with their money. In this week’s episode, we discuss the difference between investing and speculating, and why the term “risky investing” is an oxymoron.

Learn what to watch out for when trying avoid overly risky investments with your own copy of the Must Have Investing Checklist: https://bit.ly/3YRI90n

Topics discussed:

• Charlie Munger's 4 Principles

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That checklist includes only investing in simple and predictable businesses with a dominant market position, limited risk, a strong balance sheet, excellent management, high return on capital, free cash flow generative, and large barriers to entry.

Sound familiar?

There’s a lot of talk in the financial community about “diversification,” which simply means investing your money in a variety of ways in order to provide a safety net should one investment go south. The thing is, you don’t need to diversify if you know how to invest and understand what you are investing in.

By taking the time to research and learn about the companies you are investing in, you are providing your own safety net, because you won’t invest in any company that doesn’t meet the standards for a wonderful company, as it is defined in Rule #1 Investing. That is key. 

This week on InvestED, Phil and Danielle discuss Bill Ackman’s checklist more in-depth, and explain why you can’t blindly put your money in stocks chosen at random and expect to achieve great returns.

In order to succeed investing in the stock market, you have to use a system and a strategy. Learn how to find and pick quality stocks with this FREE Four Ms Guide: https://bit.ly/3krSdvB

Topics discussed:

• Bill Ackman
• Valuation methods of investing
• Rational investing
• Tesla stock
• Coca-Cola stock

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Preparation and practice can help us face our fears and improve our investing process, and dealing with doubts is part and parcel of being an investor.

This week on InvestED, Phil and Danielle discuss the hero’s journey and what it means to set and pursue goals.

To better prepare yourself for investing success, download your copy of 10 Do’s and Don’ts of Successful Investing: https://bit.ly/3RDQtxU

Topics Discussed:

• Steve Jobs
• Setting oneself up for success/failure
• The Hero’s Journey
• Commitment

Resources Discussed:

• Joseph Campbell
• Free Solo

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With the advent of new technologies, can the tech giant adapt and compete with the products and companies currently defining the landscape of Silicon Valley? And what does a tech monopoly look like when the world of virtual connectivity begins to incorporate A.I. users in addition to human ones?

This week on InvestED, Phil and Danielle talk about shakeups in the tech world and the difficulty of balancing planning for the future vs living in the present.

For help planning for your future, don’t miss a free copy of the Rule #1 Early Retirement Calculator: https://bit.ly/3HqBLFQ

Topics Discussed:

• Challenges to Google’s dominance 
• ChatGPT
• Planning ahead vs being present

Resources Discussed:

• Be Here Now

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Short selling, or shorting, plays an important role in public markets as it improves prices, rational capital allocation, prevents bubbles, and shines a light on fraud.

A recent example of this is the Gamestop event which caused many investors to either gain or lose money, as shorting isn’t ideal for all investors. This is why it’s important to invest with your values—so you can invest with confidence and reduce your risk of making bad investing decisions. 

In today’s podcast, Phil and Danielle discuss the important role short sellers play in our market and why it’s important to invest with your values. 

Learn about the Four Ms and how they can help you invest in the right businesses at the right time with this FREE guide: http://bit.ly/3btAqhM

Topics Discussed:

• Confirmation bias
• GameStop squeeze of 2021
• Short selling
• Hedge fund collusion

Resources Discussed:

• Beat the Dealer
• Black-Scholes Model

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Investors often deal with an enormous amount of pressure and uncertainty, and being able to identify the source of those stressors can help set us up to prosper in the market.

In this episode, Phil and Danielle return to the Four Tendencies Framework and examine what it is that really makes us tick and how we can harness that knowledge in our investing practices.

If you want to be better prepared to set realistic goals, don’t miss our handy checklist of The 10 Do’s and Don’ts of Successful Investing. Download your copy now: https://bit.ly/3H9Fzwd

Topics Discussed:

• Audiobook reading
• The Four Tendencies Framework

Resources Discussed

• Why We Sleep
• Better Than Before
• The Four Tendencies
• Mostly Invested
• Rule #1 Virtual Investing Workshop

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What does it look like to find success with the message you’re trying to share? There are millions of people with an idea, a passion, or a unique perspective, but managing to have it resonate with others in the attention economy is no small task. 

This week on InvestED, Phil and Danielle discuss the importance of setting goals, and they return to the recent topic of four buckets, this time in terms of dealing with expectations both external and internal.

Get your year started on the right foot with the Must-Have Investing Checklist. Download your copy now: https://bit.ly/3XjgNix

Topics Discussed:

• Publishing/PR industries
• The importance of a platform
• The Four Tendencies Framework

Resources Discussed:

• Invested
• Rule #1
• Better Than Before
• The Four Tendencies

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Having spent the past two weeks going over the All Weather Portfolio, are there certain profiles of investors who would be better suited to this strategy than others? How can you use the four buckets to hedge your bets against the ups and downs of the market?

Join us as we close out 2022 and nearly 8 years of the InvestED Podcast, and see where the inflation roller coaster takes us in 2023.

Find ways to secure your investments for the next big downturn with the 12 Month Financial Success Planner. Download your copy now: https://bit.ly/3Vd1973

Topics Discussed:

• Ray Dalio’s All Weather Portfolio
• Tony Robbins and Ray Dalio

Resources Discussed:

• MONEY Master the Game

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What does it look like to put together a portfolio that’s prepared for any economic environment? Inflation or deflation, boom or bust, there are opportunities in every situation.

This week on InvestED, Phil and Danielle dive deeper into the four buckets theory and how societal and economic dynamics can help you develop a strategy for security.

Find ways to secure your investments for the next big downturn with the Market Crash Survival Guide. Download your copy now: https://bit.ly/3hnrTUw

Topics Discussed:

• Four Buckets/All Weather Portfolio
• Efficient Market Theory

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There are countless approaches to take towards investing your wealth, but for a certain segment of the population, safeguarding financial progress is a higher priority than finding the next hot stock.

This week, Phil and Danielle talk through Ray Dalio’s All Weather Portfolio and how you can utilize this strategy to weather any economic storm that may hit the market.

If you’d like a metric for making smart investing choices, download your copy of Understanding Market Capitalization to get our guide for navigating price versus value: https://bit.ly/3P6m1eK

Topics Discussed:

• The importance of reading
• EBITDA
• Efficient Market Theory

Resources Discussed

• Unsettled by Steven Koonin
• The All Weather Portfolio by Ray Dalio

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As the buying power of the Chinese middle class continues to grow, how do investors approach the market in a nation where so much economic influence is under the control of a one-party government?

Tune in to InvestED this week as we discuss the political and economic situations in China and what they might look like in the near future, as well as how you can profit from the immense potential in that market.

To read more about the top investing minds from around the globe, download your copy of The Best Investors in the World to broaden your horizons: https://bit.ly/3ONRbri

Topics Discussed:

• China’s Party Congress
• Future of US/China relations
• Hermès vs LVMH

Resources Discussed

• Rule #1 Blog
• Ray Dalio’s Notes on China
• Principles by Ray Dalio

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There is no shortage of opinions about when to sell in the ever-changing world of investing, but those taking the Rule #1 approach know that buying a great business on sale is paramount for maximizing your returns.

While analyzing the countless factors that influence markets can seem like a formidable task, it really boils down to understanding a stock’s price versus its value. Having a grasp on these two metrics can be one of the most powerful tools in your arsenal of knowing when to hold and when to sell.

This week on InvestED, listen as Phil and Danielle talk through the evolving methods that tech companies use to retain their user base and minimize risk. As these businesses grow to encompass a wider range of hardware and software in an increasingly interconnected world, investors can utilize this understanding to inform their decisions to either hold or sell.

To learn more about how the tech giants maintain their advantages over their competitors, download your copy of Moat Types for Durable Advantage to successfully invest: https://bit.ly/3tWwFe5

Topics Discussed:

• P/E ratio
• Venture capital in US vs abroad
• Government regulation
• Tech ecosystems

Resources Discussed

• Rule #1: The Simple Strategy for Successful Investing in Only 15 Minutes a Week!

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It’s important to keep in mind that, when looking at the methodologies of successful value investors, different strategies are required for different stages of managing your portfolio. The positions that Buffett is taking in 2022 are a far cry from his process 50 years ago.

This week on InvestED, Phil and Danielle discuss why buy and hold might not be the best move in every situation, and when it is the right thing to do, how do you choose the companies to stick with?

To learn more about how to pick and choose profitable businesses, download your copy of How to Pick Stocks: The 5-Step Checklist to successfully invest: https://bit.ly/3tz0Vfc

Topics Discussed:

• Intrinsic value
• Modern portfolio theory vs Value investing
• Deciding when to sell

Resources Discussed

• Riding a Backwards Bike
• The Education of a Value Investor
• The Dhando Investor: The Low-Risk Value Method to High Returns

For show notes and more information visit www.investedpodcast.com

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Getting in (or out) at the right time is what separates top investing minds from the rest of the pack, and whether it’s finding a sale on a great company or knowing how to read the tea leaves and avoid being left holding the bag, having the proper analytics can help you navigate the tumultuous investment landscape.

This week on InvestED, Phil and Danielle dig deeper into topics raised by last week’s listener email, and they take a look back at how superstar investors like Buffett have changed their approach over the past few decades in response to market volatility.

To see how well you know the wisdom that has inspired the Rule #1 investing strategy, take our Warren Buffett quiz and find out how you stack up: https://bit.ly/3WO1jUy

Topics Discussed:

• Intrinsic value vs. timing the market
• Understanding your investments
• Velocity of money
• Market distortion
• Building financial independence vs. preserving portfolio

Resources Discussed

• Rule #1 book

For show notes and more information visit www.investedpodcast.com 

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She also dips into the mailbag to hear a listener’s thoughts on our recent dialogue regarding when to hold and when to sell during market downturns.

To get insight into how today’s top financial minds approach their investments, download your copy of The Best Investors in the World: https://bit.ly/3UjWpfE

Topics Discussed:

• Big changes at Twitter
• Listener email

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This week on InvestED, Phil and Danielle talk through the long and short-term repercussions of inflation, how a generation of investors will face their first true test in a bear market, and why Rule #1 is so vital to coming out ahead when markets dip.

To learn more about how to stay centered in your investing practices, download your copy of the Inflation Checklist to successfully invest: bit.ly/3DoVtQD

Topics Discussed:

• Navigating a turbulent market
• Risk-free rates
• Historic market downturns
• Value vs price

Resources Discussed

• Modern Portfolio Theory

For show notes and more information visit www.investedpodcast.com

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Teaching kids about the value of their money doesn’t have to be as complicated as most people think, though. 

There are actually a number of ways parents can get creative with introducing investing basics to their kids while keeping them engaged with the process. One of the easiest ways is to simply teach one of the Rule #1 Investing principles: invest in something you're actually interested in and believe in.

This week on InvestED, tune in as Phil and Danielle discuss growing up with parents who do (or don’t) invest, winning strategies with allowances, and how to set kids up for success in the future.

To learn more about getting you or someone you know started off with some investing basics, claim your free copy of Guide to Investing for Beginners: https://bit.ly/3CGzh42

Topics Discussed:

• Teaching finances at a young age
• Representation in investing

Resources Discussed

• Investing Guide for Beginners

For show notes and more information visit www.investedpodcast.com

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However, before diving right in, it’s essential for investors to prioritize balance between creating strategies they believe will lead to success and being patient enough, especially through times of market volatility, in order to see long-term gains.

Truth is, most people want to be in successful, long-term investing positions, but when you’re just starting out, it can be challenging. The best investors show their true potential in how well off their portfolio is, even after an economic downturn.

This week on InvestED, tune in to hear Phil and Danielle explain that while it can be difficult to know how to navigate a turbulent market, having patience and a strategy for enduring the hard times is key in order to see any payoff coming out on the other side.

To learn more about how to stay centered in your investing practices, download your copy of 4 M’s Investing Guide to invest successfully: http://bit.ly/2TZ3Bls 

Topics Discussed:

• Big picture investing
• Market downturns
• How to stay prepared

Resources Discussed

• Li Lu article
• 4 M’s for Successful Investing Guide

For show notes and more information visit www.investedpodcast.com

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But getting so depe in the weeds, you lose track fo the forest and end up doing way too much that ends up leading to you missing the strategy that actually works: staying patient.

Find other things to do to keep you centered

The purpose of life isn’t to make money. It’s a pre-condition for handling what you’re here to do. 

While it’s important to live a life in which you can provide for yourself and your loved ones, it’s also important to do things that make you feel whole and happy. 

That’s why investing is so important. One of the greatest things about investing, especially when using Rule #1 strategies, is that it gives you the ability and financial freedom to live a vital life. You’ll no longer have to commit to the daily “grind” just to pay the bills.

Tune in to this week’s episode of InvestED to learn more about how Phil and Danielle find purpose in their lives and how you can, too. Because at the end of the day, you don’t have to be a genius to invest. 

It’s not a game where IQ wins – it’s a game where discipline wins.

To learn more about how to stay disciplined in your investing practices to help you live a purposeful life, download your copy of Phil’s FREE 4M’s guide to successfully invest: https://bit.ly/3BiRJA1 

Topics Discussed:

• Emotional centeredness
• Rule #1 Investing

Resources Discussed

• And There Was Light
• Man’s Search for Meaning

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That’s why investing is so important. One of the greatest things about investing, especially when using Rule #1 strategies, is that it gives you the ability and financial freedom to live a vital life. You’ll no longer have to commit to the daily “grind” just to pay the bills.

Tune in to this week’s episode of InvestED to learn more about how Phil and Danielle find purpose in their lives and how you can, too. Because at the end of the day, you don’t have to be a genius to invest. 

It’s not a game where IQ wins – it’s a game where discipline wins.

To learn more about how to stay disciplined in your investing practices to help you live a purposeful life, download your copy of Phil’s FREE 4M’s guide to successfully invest: https://bit.ly/3BiRJA1 

Topics Discussed:

• Risk-taking
• Financial freedom
• Personal finances
• Meditation and transcendence
• Life values

Resources Discussed

• War of the Worlds, HG Wells
• Empire of the Summer Moon, S.C. Gwynne
• InvestED Book
• SmartLess Podcast

For show notes and more information visit www.investedpodcast.com

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This week, Phil and Danielle return with a new episode of InvestED to discuss risk and how to decide if a company is dangerous enough to sink a potential investment decision.

When you first start out with investing, it can be overwhelming and intimidating. But it’s important to go deep and really do your homework before making a truly sound decision, especially in today’s tough market.

Tune in to this week’s episode of InvestED to learn more about risk inversion, what it takes to make a sound investment decision and how to overcome overwhelm.

To learn more about how to be confident in a company, download your copy of Phil’s FREE guide about the 4 M’s to successful investing: https://bit.ly/3BiRJA1 

Topics Discussed:

• Risk inversion
• Investment Overwhelm
• Uncertainty
• Predicting Success
• Events

Resources Discussed

• Netflix Episode
• Netflix Part 2
• Netflix Part 3
• FAANGM Stocks Episode

For show notes and more information visit www.investedpodcast.com. 

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Phil and other expert investors – including Warren Buffett – have owned real estate. From subdivisions to large farms, apartments, commercial property, and single-family homes, if you assess it’s valuable for your investing goals, real estate could be a good option for you.

This week on InvestED, in an episode from The Vault, Danielle and Phil discuss whether or not it’s possible to make real estate a beneficial component of a high-performing financial portfolio.

Learn more about following the Rule #1 method of successful investing! Click here to download your copy of Phil’s Value Investing Cheat Sheet: https://bit.ly/3qBJfxU 

Resources Discussed:

• Atul Gawande Books
• Fortune Article

Topics Discussed:

• Rule #1 Investing
• Real Estate Investing
• Warren Buffet Berkshire Hathaway Letters
• Risk Management
• Skuttlebutt
• All-Weather Portfolio

For show notes and more information visit www.investedpodcast.com

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However, it’s important, that when that risk – and possible loss – crosses your investment path, you don’t fall back to hoping the market will climb back into your favor. You must stay disciplined and continue to do what’s best, even if it means taking a rare loss. 

In this episode of InvestED, Phil and Danielle discuss a recent loss Phil took, despite making textbook investing decisions. See how he overcame it so you know what to do if that happens to you and your portfolio. 

Learn how to make the best textbook Rule #1 investing decisions that will prepare you for times of uncertainty or rare loss, while still staying in control of your portfolio. Download your free copy of the 4 M’s of Successful Investing: https://bit.ly/3BiRJA1 

Topics Discussed:

• Alibaba
• Variable Interest Entities (VIEs)
• Difference between the US and Chinese Stock Exchange
• Government risk
• Rule #1 Investing
• Dealing with losses
• When to sell

Resources:

• Successful Investing Guide

For show notes and more information visit www.investedpodcast.com

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Munger is the Vice Chairman of the world’s greatest compound interest machine: Berkshire Hathaway, Inc. 

During the time of his and Warren Buffett’s reign as the leaders of Berkshire, the company has returned roughly 2,000,000% on its initial value. It’s safe to say we can all learn a lot from Charlie Munger.

Today’s episode of InvestED is a favorite from the vault, where Phil and Danielle explain some of their favorite Charlie Munger quotes and cover how so many Rule #1 principles are based on his teachings.

Get inspired to invest like some of the world's greatest investors, Charlie Munger and Warren Buffett, with this free guide: https://bit.ly/3wGZz3T 

Topics Discussed:

• Charlie Munger
• Rule #1 Investing Principles

For show notes and more information visit www.investedpodcast.com 

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This week on InvestED, Phil and Danielle circle back to their discussion on Google, specifically, its regulatory risks that may convince believers in the company to consider not investing. 

Tune in to this week’s podcast to learn more about Google’s unique position, its risks, and other world happenings to keep in mind when it comes to investing in big companies. 

To learn more about how to responsibly plan for a successful investing future, download Phil’s 12-Month Financial Success Planner: https://bit.ly/3AmNEud 

Resources Discussed:

• Ray Dalio’s LinkedIn
• Ray Dalio’s Principles for Dealing with the Changing World Order
• The Big Short Movie

Topics Discussed:

• Investing during world conflict
• Regulatory Risk
• Regulatory intervention
• Confirmation bias
• Inversions

For show notes and more information visit www.investedpodcast.com.

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Truth is, when it comes to long-term investing, you don’t need to have your nose in the numbers every day, or even every week. If you feel tired, take a break!

One of the benefits of investing the Rule #1 way – long-term investing – is that you don’t have to be as attentive on a daily basis to what the market is doing, the way you’d have to pay attention if you were a short-term trader. 

Tune in to this week’s podcast to learn more about how to stay on top of your portfolio, even when you need to step away for a bit and put your energy somewhere else.

To learn more about how to plan for a successful investing future while still being able to take and enjoy time off for things like vacation, download Phil’s 12-Month Financial Success Planner: https://bit.ly/3AmNEud 

Resources Discussed:

• 12-Month Financial Success Planner

Topics Discussed:

• Short Term Trading
• Long Term Investing
• Warren Buffett Investing Strategy

For show notes and more information visit www.investedpodcast.com 

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In this episode of InvestED, Phil and Danielle dig into what has and could happen to Google’s growth and price, and what that means for you as an investor.

Between Google’s unique way to track and store data, ad-revenue generation, and changing data and privacy laws, tune into this episode of InvestED to learn more about the strategic position Google (now Alphabet) has on the market and what it means to investors.

To understand whether or not investing in certain businesses is right for you, download Phil’s 4 Ms to Successful Investing Guide: https://bit.ly/3JlhmTm 

Resources Discussed:

• GOOG on the NASDAQ

Topics Discussed:

• Warren Buffett Style Investing
• Google’s price
• Data collection and regulation
• FAANG Stocks
• Network Moats
• Google’s Moat

For show notes and more information visit www.investedpodcast.com

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Specifically, Phil and Danielle dig into Google this week. Covering everything from YouTube and Ad Revenue to Google Cloud and Google Play, you’ll learn how the online giant sets itself apart from the others and continues to grow, despite rapid change and competitors in spaces like streaming. Essentially, Google-- now Alphabet -- is as close to a monopoly as you can get. 

To learn more about how to know if investing in certain businesses is right for you, download Phil’s 4 Ms to Successful Investing Guide: https://bit.ly/3JlhmTm 

Resources Discussed:

• Rule #1 YouTube Channel
• GOOG on the NASDAQ

Topics Discussed:

• FAANGM Stocks
• Google’s Moat

For show notes and more information visit www.investedpodcast.com

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From the creation of new popular content to switching to an ad-based subscription model, Netflix continues to tinker with how to provide the most long-term value for their customers, as well as investors. 

This week on InvestED, Phil and Danielle dig deeper into the changes happening within Netflix and its earnings to help you better understand the nuances, values, and risks associated with investing in a company like Netflix.

To learn more about what types of questions to ask and what you need to understand to invest with success, download Phil’s 4 Ms to Successful Investing Guide: https://bit.ly/3zCiorb 

Resources Discussed:

• Netflix Part 1
• Netflix Part 2
• Netflix Part 3
• Netflix Questions
• Quarterly Report
• Rule #1 Toolbox

Topics Discussed:

• Earnings Reports
• Free Cash Flow
• Ad-based subscription
• Real Owner Earnings

For show notes and more information visit www.investedpodcast.com

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This week on InvestED, Danielle is getting to all of those questions to help provide more clarity for you when trying to understand Netflix’s business model and if it’s right for you to invest in or not. 

To learn more about what types of questions to ask and what you need to understand to invest with success, download Phil’s 4 Ms to Successful Investing Guide: https://bit.ly/3zCiorb 

Resources Discussed:

• Netflix Part 1
• Netflix Part 2
• Netflix Part 3
• Netflix Q2 Investor Call

Topics Discussed:

• Debt
• Free Cash Flow
• Budling of Streaming Services
• Culture of Management

For show notes and more information visit www.investedpodcast.com

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While most of the companies you invest in seem to be clear-cut, there could be some outliers. So how do you handle them? What are the red flags? How do you identify the moat?

Tune in to this episode of InvestED to learn how to invest in riskier businesses and identify their moats, and why it’s important to buy wonderful businesses at fair prices instead of fair businesses at wonderful prices. 

To learn more about what types of questions to ask and what you need to understand to invest with success, download Phil’s 4 Ms to Successful Investing Guide: https://bit.ly/3zCiorb 

Resources Discussed:

• Netflix Part 1
• Netflix Part 2
• Netflix Part 3
• Ben Graham’s Formula
• InvestED Book
• Rule #1 Book

Topics Discussed:

• Valuation 
• Big moat businesses
• Margin of safety
• Debt
• Basic investing rules

For show notes and more information visit www.investedpodcast.com

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The Towns provide a refresh on investing basics, like what a Moat is, and how getting back to those basics can help you better understand the biggest investing questions you have, even around difficult companies to understand, like Netflix.

Learn how to answer the hard questions about confusing companies like Netflix and figure out what they’re worth and what their future can look like in this episode in InvestED.

To learn more about what types of questions to ask and what you need to understand to invest with success, download Phil’s 4 Ms to Successful Investing Guide: https://bit.ly/3zCiorb 

Resources Discussed:

• Netflix 10-K
• Netflix Part 1
• Netflix Part 2

Topics Discussed:

• Depreciation and amortization of content
• Moats and intrinsic value
• Rule #1 investing basics
• Netflix’s moat

For show notes and more information visit www.investedpodcast.com

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While Netflix may be almost impossible to understand and wrap your head around investing in, there’s still value in looking at it through the lens of basic Rule #1 investment practices that will help you learn how to avoid confirmation bias and invest logically. 

Tune in to this episode of InvestED to hear what we can learn about investing from complex companies like Netflix, and people that do choose to invest in them. 

To learn more about what types of questions to ask and what you need to understand to invest with success, download Phil’s 4 Ms to Successful Investing Guide: https://bit.ly/3zzKVOd 

Resources Discussed:

• Netflix 10-K

Topics Discussed:

• Confirmation bias
• Investing in companies that are “too hard”
• Rule #1 investing basics
• Understanding moats and management

For show notes and more information visit www.investedpodcast.com

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On the surface, the technology and entertainment company seems to be doing well, however, there’s one big elephant in the room: it doesn’t have free cash flow.

This is a huge red flag in the world of Rule #1 Investing, and something that typically leads Warren Buffett and Charlie Munger to avoid investing in a company. But that doesn’t necessarily mean Netflix isn’t a good investment opportunity.

Join Phil and Danielle this week as they dig into how to understand a complicated company like Netflix and how to decide if it’s the right investment for your portfolio and long-term success. 

To learn more about what types of questions to ask and what you need to understand to invest with success, download Phil’s 4 M’s to Successful Investing Guide: https://bit.ly/3zzKVOd 

Resources Discussed:

• Netflix 10-K

Topics Discussed:

• Free Cash Flow
• Debt
• Earnings
• Depreciation Schedule

For show notes and more information visit www.investedpodcast.com

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If you’ve ever asked yourself these questions when beginning your investing journey, you’re going to want to tune in to this week’s episode of InvestED.

Phil and Danielle break down the questions everyone should ask themselves and dig into the laws of investing to better help you decide if you’re on the right track to creating generational wealth.

To learn more about what types of questions to ask and what you need to understand to invest with success, download Phil’s 4 M’s to Successful Investing Guide: https://bit.ly/3zzKVOd 

Topics Discussed:

• Investing for Beginners
• Laws of Investing
• Company Hooks
• Mutual Funds

For show notes and more information visit www.investedpodcast.com

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In the letters, you’ll learn Buffet’s warnings to other investors that we do not know what will happen with the stock market or the underlying currency, and that long-term fixed interest bonds may not continue to serve as a financial instrument and may even become obsolete. 

Danielle also digs into Buffett’s points that there may not be a corporate solution to the problem of growing inflation, however, he does explain other solutions.

To learn more about what type of companies to look for that can withstand inflation and this uncertain market, register for Phil’s NEW investing webinar: https://bit.ly/3GT2drc 

Topics Discussed:

• Inflation
• Interest Bonds

Resources:

• Warren Buffett’s 1979 letter
• Market Timing & Inflation

For show notes and more information visit www.investedpodcast.com.

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Tune in this week to learn some background on the popular streaming platform and a reminder of the basics of what to look for in a company before investing to ensure you make the right investment for long-term financial success.

To learn more about how to set yourself up for successful investments early on, download your FREE copy of Phil Town’s Ultimate Investing Guide: https://bit.ly/3lHi5mU 

Topics discussed in this podcast:

• How to Start Investing
• Netflix Investor Resources
• Market Cap Definition
• What Makes Netflix Different (Their Value-Add)

Resources discussed in this podcast:

• Netflix Investor Relation Page
• Netflix Annual Stockholder Meeting Webcast

For show notes and more information visit www.investedpodcast.com

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The Area method is a decision-making system to solve complex problems, like the question posed above. With years of experience, knowledge, and practice on deciding whether or not to invest in a company with an uncertain future, Cheryl Einhorn shares her insights with Danielle, and you, on this week’s podcast. 

To learn more about how to set yourself up for successful investments, download your FREE copy of Phil Town’s Ultimate Investing Guide: https://bit.ly/3lHi5mU 

Topics discussed in this podcast:

• Investing uncertainty
• Netflix
• Inflation
• Area Method

Resources discussed in this podcast:

• Problem Solved by Cheryl Strauss Einhorn
• Investing in Financial Research: A Decision Making System for Better Results by Cheryl Strauss Einhorn
• areamethod.com

For show notes and more information visit www.investedpodcast.com

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Learn answers to these questions and more in this week’s episode of InvestED. Phil and Danielle are covering their final conversation on the takeaways from this year’s Berkshire Hathaway Annual Shareholders meeting and helping you figure out how to make intelligent investing decisions.

Tune in to learn how to stay disciplined and keep emotional investments in check during crazy times to build generational wealth in any environment!

Learn more about how to successfully and safely invest your money, even in times of inflation, using Phil’s Four Ms for Successful Investing Guide. Download your copy here: https://bit.ly/3sdzw1V 

Topics discussed in this podcast:

• Annual Berkshire Hathaway Shareholder meeting
• Market timing
• Inflation

Resources discussed in this podcast:

• Shareholder Meeting Information
• Trillion Dollar Triage

For show notes and more information visit www.investedpodcast.com

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While there was no massive new idea presented at the meeting, it served as a fantastic reminder of the great financial advice Buffett and Munger have been talking about for years.

This week, Phil and Danielle continue their conversation from last week recapping their takeaways and learnings from the meeting, and explaining how you can use those takeaways in order to succeed with your investments.

Learn more about how to successfully and safely invest your money, even in times of inflation, using Phil’s Four Ms for Successful Investing Guide. Download your copy here: https://bit.ly/3sdzw1V 

Topics discussed in this podcast:

• Annual Berkshire Hathaway Shareholder meeting
• Market timing
• Bonds vs the S&P 500
• Inflation
• American Express

Resources discussed in this podcast:

• Shareholder Meeting Information

For show notes and more information visit www.investedpodcast.com

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As lifelong learners from Buffett and Munger, Phil and Danielle recap their takeaways and learnings from this year’s meeting and explain how you can use those takeaways in order to succeed with your investments.

Learn more about how to successfully and safely invest your money even in times of inflation using Phil’s Four Ms for Successful Investing Guide. Download your copy here: https://bit.ly/3sdzw1V 

Topics discussed in this podcast:

• Annual Berkshire Hathaway Shareholder meeting
• How to define an investment
• Real intrinsic value of companies
• Bitcoin

Resources discussed in this podcast:

• Shareholder Meeting Information
• Story of The Bank of Italy (United States)

For show notes and more information visit www.investedpodcast.com 

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You’ll learn how to determine how and who to invest in during a period of stagflation to help you avoid debt and truly take control of your finances.

Ready to start picking your recession-proof companies to invest in? Use Phil’s Ultimate Stock Market Crash Survival Guide to further help you figure out where to invest your money. Get your free guide here: https://bit.ly/3LF6EHk 

Topics discussed in this podcast:

• Inflation proof companies
• Company moats
• Stagflation
• Rule of 72

Additional resources discussed in this podcast:

• Episode 364- Pricing Power (Part 1)
• CNN Business List of big companies with pricing power
• 
  

For show notes and more information visit www.investedpodcast.com

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In this episode of InvestED, Phil and Danielle discuss purchasing power, the future recession, and the changes in the value of money due to an increase in interest rates. 

Discover companies that will bring value to your investing practices and are predicted to continue to raise prices. Learn from Warren Buffet’s experiences and study the same basic investing principles. 

Understand how the proven Rule #1 strategy can help keep your money safe during the next market crash. Download a copy of Phil’s Ultimate Stock Market Crash Survival Guide. Get your free guide here: https://bit.ly/3O8nzDX 

Topics discussed in this podcast:

• Inflation proof companies
• Wage increases
• Buffets buying and selling decisions 

Additional resources discussed in this podcast:

• Episode 363- Inflation Proof Companies (Part 2)
• CNN Business List of big companies with pricing power

For show notes and more information visit www.investedpodcast.com

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In this episode of InvestED, Phil and Danielle continue their discussion on inflation, the future recession, and investing in antifragile companies to remain afloat. Learn how you can be successful with your investments, despite a recession making it difficult to do so with companies that have a big, strong moat.

Prepare even more for the upcoming recession by downloading a copy of Phil’s Ultimate Stock Market Crash Survival Guide. Get your free guide here: https://bit.ly/3LF6EHk 

Topics discussed in this podcast:

• Economic expansion
• Recessions
• Interest rates
• Supply chain disruptions

Additional resources discussed in this podcast:

• Episode 362 - Inflation Proof Companies (Part 1)
• Episode 361 - Investing in Uncertain Environments
• Buffett's Investing Strategy
• 
  

For show notes and more information visit www.investedpodcast.com

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Higher prices lead investors to ask if a company's moat will crumble. However, a big moat has a durable competitive advantage and an inflation-proof company brings value to investing in an uncertain investing environment.

Tune in to this episode of InvestED to understand more about the importance of value investing and take Phil and Danielle’s advice on finding safe, big moat companies. 

To learn even more about where to find inflation-proof companies, download a copy of Phil’s Ultimate Stock Market Crash Survival Guide. Get your free guide here: https://bit.ly/3qvca75 

Topics discussed in this podcast:

• Value investing
• Successful investing in uncertain times
• Inflation proof companies
• Pricing power
• Broken moats 

Additional resources discussed in this podcast:

• Podcast 361 - Investing in Uncertain Environments

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Despite the stock market being affected by the world's current events including the war in the Ukraine, according to Phil, an uncertain investing environment is THE WAY to invest. 

Tune in to this episode of InvestED where Phil and Danielle discuss when and if you should invest in an uncertain investing environment, how to take advantage of lower prices, and how to find antifragile companies.

Learn where to find antifragile companies with Phil Town’s Ultimate Stock Market Crash Survival Guide. Get your guide now: https://bit.ly/3qvca75 

Topics discussed in this podcast:

• Investing with uncertainty
• Finding antifragile companies
• Markets responding to the war in the Ukraine
• Depressions & Recessions
• Inflation & Buying Power

Additional resources discussed in this podcast:

• Ray Dalio Signaling 100 Year Depression
• Nassim Nicholas Taleb‘s Antifragile

For show notes and more information visit www.investedpodcast.com

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This podcast is focusing on moat.

Most people know a moat to be the water around a castle but in investing terms, a moat is the durable competitive advantage that a company has that protects it from being attacked by competitors.

A moat is what makes a company predictable and allows us to put a value on the business. Charlie Munger said that “Coca-Cola is the perfect business because it has this gigantic durable competitive advantage, or moat, which gives it predictable cash flow.” 

This allows us to figure out what the future cash flow will be and value the company today, so we know whether we can buy it on sale or not.

Finding a business with a wide moat is key to finding a successful business to own, because a business with a wide moat is much more predictable for the next 20 years than a business with no moat.

The idea of the moat is really simple. If an industry looks as if it might be very easy to get into, there probably isn’t a moat. On the other hand, if an industry looks as though it might be really hard to get into and be successful, you’ll probably find some wide-moat businesses.

In today’s podcast, Phil and Danielle discuss moat and value, and the processes in which they pick stocks with confidence.

Learn more about moat and the other three Ms of investing with this free guide that I’ve created for you: https://bit.ly/3MrOtpE 

Topics discussed in this podcast:

• Moats
• Value
• Picking Stocks with Confidence

For show notes and more information visit www.investedpodcast.com

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Next week's episode will focus on making important and intimidating investing decisions while taking current events into consideration. What do you do when you don’t know the future? Should you lean on the least bad of options to make your choice?

Tune into the next episode of InvestED to learn more about these topics.

If you’re looking for more investing resources until the next episode of InvestED, download your FREE copy of the 4 M’s of Successful Investing to learn how to invest with certainty: https://bit.ly/3MrOtpE 

Topics discussed in this podcast:

• The changing market given current events with Russia and Ukraine
• More on Charlie Munger: decision making by picking the least bad option

Additional resources discussed in this podcast: 

• Charlie Munger’s Video with Yahoo Finance

For show notes and more information visit www.investedpodcast.com 

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The topic of this meeting is contradicting investing and whether it is ethical to invest in countries who have different strategies than those of the US. 

Tune in to this episode of InvestED where Phil and Danielle debate on Morals vs Money. Is it okay to invest in a company whose morals are different from your own?

Learn how to build a successful financial future for yourself with Phil Town’s FREE 12-Month Financial Planner. Download your copy now: https://bit.ly/3Gfa1l5 

Topics discussed in this podcast:

• Investing in Cryptocurrency 
• Investing in other countries
• Investing Ethics
• Contradicting Investing

Additional resources discussed in this podcast:

• Charlie Munger’s Video with Yahoo Finance

For show notes and more information visit www.investedpodcast.com

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The topic of this meeting is contradicting investing and whether it is ethical to invest in countries who have different strategies than those of the US. 

Tune in to this episode of InvestED where Phil and Danielle debate on Morals vs Money. Is it okay to invest in a company whose morals are different from your own?

Learn how to build a successful financial future for yourself with Phil Town’s FREE 12-Month Financial Planner. Download your copy now: https://bit.ly/3Gfa1l5 

Topics discussed in this podcast:

• Investing in Cryptocurrency 
• Investing in other countries
• Investing Ethics
• Contradicting Investing

Additional resources discussed in this podcast:

• Charlie Munger’s Video with Yahoo Finance

For show notes and more information visit www.investedpodcast.com 

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Continuing on that conversation, Phil and Danielle dive deeper into researching Peloton to determine the success of the company in the stock market by calculating the strength of its moat. 

Tune in to this episode of InvestED for their final thoughts on how to interpret whether a company is worth investing in, given the state of the stock market, current assets and liabilities, long-term debt, and operating cash flow of the company.

Learn how to invest with certainty in the right business at the right price by understanding a company’s moat. Download your FREE copy of the 4 Ms of Successful Investing: https://bit.ly/3gwwWxY 

Topics discussed in this podcast:

• Peloton’s moat
• What to research in a company before investing
• How companies rebound after stock dips
• The 4 Ms of Successful Investing
• 
  

Additional resources discussed in this podcast:

• InvestED Episode 355: Investing Lessons We Can Learn from Peloton (Part 1)
• InvestED Episode 267: Peloton Company Analysis
• https://bit.ly/3gwwWxY
• 
  

For show notes and more information visit www.investedpodcast.com 

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In this episode of InvestED, they use the example of Peloton’s stock history to highlight why the Rule #1 method of Investing is the best tool you can use to find long-term success, despite fluctuations. 

From understanding what a moat is, and identifying Peloton’s Moat, to having a good idea of a company’s financial and management situation prior to investing, tune in to this episode of InvestED to learn how to assess if a company is right for you and your long-term investing strategy, despite any uncertainty that may arise.

Learn how to invest with certainty in the right business at the right price despite market fluctuations. Download your FREE copy of the 4 Ms of Successful Investing: https://bit.ly/3gwwWxY 

Topics discussed in this podcast:

• How to Understand Market and Inflation Fluctuations
• 4 Ms of Successful Investing
• Moats

Additional resources discussed in this podcast:

• InvestED Episode 267: Peloton Company Analysis
• 4 Ms of Successful Investing Guide

For show notes and more information visit www.investedpodcast.com

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From discussing how the Federal Reserve used to calculate inflation, to understanding all of the nuances to the way it’s calculated now, tune in to this episode of the InvestED Podcast to gain a better understanding of what the current inflation rate is and what it means for the world economy.

To stay prepared for any changes in inflation or to the market as a whole, claim your FREE copy of the Rule #1 12-Month Planner: https://bit.ly/3Gfa1l5 

Topics discussed in this podcast:

• Inflation
• The future of the economy & markets
• Supply & labor bottlenecks
• Wage increase
• Substitution

Additional resources discussed in this podcast:

• Federal Reserve Economic Data (FRED)
• FRED M1 Chart
• Shadowstats

For show notes and more information visit www.investedpodcast.com 

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Continuing on that conversation, tune in to this episode of InvestED where Phil and Danielle dig into what would happen if the Federal Reserve raises interest rates and how much they could raise them without crushing the economy. And, don’t miss as they start discussing changes in inflation.

To stay prepared for any changes in inflation or to the market as a whole, claim your FREE copy of the Rule #1 12-Month Planner: https://bit.ly/31ImPCl 

Topics discussed in this podcast:

• Inflation
• The future of the economy & markets
• Supply & labor bottlenecks
• Wage increase
• Substitution

Additional resources discussed in this podcast:

• Federal Reserve Economic Data (FRED)
• FRED M1 Chart
• Shadowstats

For show notes and more information visit www.investedpodcast.com

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This week on InvestED, Phil and Danielle discuss using the “margin of safety” when looking to buy their stocks. Truth is, while the Rule #1 Investing Method will put you on the right track, there’s still so much opportunity to be flexible depending on your own situation and values.

Tune in to learn how to define your margin of safety to help you avoid investing mistakes – whether it be ignoring your margin of safety, or staying too far within the lines of it.

To help keep yourself on track for success as you navigate your financial future, download the FREE 12 Month Planner that will help you organize your priorities and promises to set yourself up for financial gain in 2022: https://bit.ly/31ImPCl 

Topics discussed in this podcast:

• How to tell if you’ve made a mistake
• Defining your own investing rules
• Difference between founder-led and non-founder led companies

Additional resources discussed in this podcast:

• Lou Simpson Passed Away
• Activision Scandal & Stock Patterns

For show notes and more information visit www.investedpodcast.com.

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Whether you believe there is or not, knowing when and how to invest can be a confusing and overwhelming process for some. But there’s one way to feel certain and confident about your investment decisions: Investing the Rule #1 Way.

Join Phil and Danielle Town as they dive into the history of the market, what to expect of it in the future, and why value investing will allow you to feel confident and stable with your investments during market fluctuations. 

To put yourself on the track to financial success, download the FREE 12 Month Planner that will help you organize your priorities and promises to set yourself up for financial gain in 2022: https://bit.ly/31ImPCl 

Topics discussed in this podcast:

• Value Investing
• Emotional Investing
• When to Buy & Sell
• History of the Stock Market
• Control Company for Investors

Additional resources discussed in this podcast:

• Biggest Investing Mistakes with Jeremy Deal
• How Investing Works

For show notes and more information visit www.investedpodcast.com

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While there are many ways to successfully invest, Phil and Danielle run through the positives and negatives of each in this first podcast episode of 2022.

Tune in as they also walk through the history of the market, how it can help you understand what’s going on in the market today, and how you can use that knowledge to understand how to invest your money for the best.

To learn more about how to successfully invest your money in the new year and beyond, download a copy of Phil’s Complete Guide to Investing for FREE here: https://bit.ly/3mVqxQs 

Topics discussed in this podcast:

• Interest Rates
• Buffett Investing
• Long Term Investing
• Bond Investing

Additional resources discussed in this podcast:

• Shiller PE Ratio
• Net-Net strategy

For show notes and more information visit www.investedpodcast.com

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But, when you put in the effort to find that one thing in your life that allows you to transcend and pull back from what is truly happening in the world, you’ll be able to find yourself at peace.

This week, Phil and Danielle Town take a look back on 2021 and reflect on everything that has happened. They discuss how to be your best self by practicing a form of meditation that’s best for you and allows you to clear your mind and go beyond your abilities. 

To start off the New Year with a plan to succeed and be your best self, register for Phil’s Transformational Investing Webinar where you can learn how to invest as a beginner. Sign up here: https://bit.ly/3sDcmTJ 

Topics discussed in this podcast:

• A look back at 2021
• Life’s constant changes
• Learning how to transcend
• Using meditations
• Beginning your investing journey

For show notes and more information visit www.investedpodcast.com.

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As the market started booming again post World War II, Buffett found the Net-Net strategy to be extremely difficult, so he transitioned to trading options – a riskier, but higher return strategy.

Tune in as Phil and Danielle explain everything you need to know about options trading, why it should not be considered as investing, and what is in between both of Buffett’s two investing extremes.

To learn more about how to successfully invest as a beginner, download a copy of Phil’s Complete Guide to Investing for FREE here: https://bit.ly/3oSjWaK 

Topics discussed in this podcast:

• The Net-Net Investment Strategy & History
• Options Trading
• Investing Extremes
• Put Option
• Call Option
• Meme Stocks

Additional resources discussed in this podcast:

• The Net-Net Strategy Explained
• The Complete Guide to Investing for Beginners

For show notes and more information visit www.investedpodcast.com.

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The Net-Net Strategy was actually developed by economist Benjamin Graham, who Buffett studied under after graduating from Columbia. The Net-Net strategy is generally seen as an extremely conservative investment strategy, and after following it throughout the great depression, Benjamin Graham saw extreme success.

Join Phil and Danielle as they dive deeper and explain the history of Net-Nets, how and why to use them today, and briefly touch on the other extreme of Buffett’s investing strategies.

To learn more about how to successfully invest as a beginner, download a copy of Phil’s Complete Guide to Investing for FREE here: https://bit.ly/3oSjWaK 

Topics discussed in this podcast:

• The Net-Net Investment Strategy & History
• Stock Options
• Investing Extremes

Additional resources discussed in this podcast:

• Investing Checklist Logistics - Part 1
• Investing Checklist Logistics - Part 2
• Net-Net Definition

For show notes and more information visit www.investedpodcast.com.

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A good place to start is by choosing a company or industry that’s relatively easy for you to understand and practice digging deeper in research using the checklist...even if you don’t end up investing in that company.

Join Phil and Danielle as they continue their conversation about the Investing Checklist Logistics to dig even deeper and help you better understand the companies you’re interested in and the best process you should follow to see success when it comes time for you to invest.

To see the must-have investing checklist Phil and Danielle use, download your own copy for FREE here: https://bit.ly/3Inmmpv 

Topics discussed in this podcast:

• Investing Checklist
• The Role of Competition
• Investing Research
• Investing Resources

Additional resources discussed in this podcast:

• Investing Checklist Logistics - Part 1
• Peter Thiel’s “Competition is for Losers”
• Innovation Stack by Jim McKelvey
• Must-Have 90 Question Investing Checklist
• Evernote

For show notes and more information visit www.investedpodcast.com.

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This week on InvestED, Phil and Danielle discuss the critical step to take after you’ve made it through the Investing Pyramid and before diving deeper into the investing checklist: Having Patience & Staying Simple.

It’s no secret how effective the Rule #1 Investing Strategy is, and it’s because Rule #1 Investors do two things:

1. They keep things simple and invest in what they know and believe
2. They’re patient and wait for the best time to buy

To learn how to pick the right stocks for your portfolio and help you keep things simple, download the 5-Step Checklist for How to Pick the Best Stocks for FREE here: https://bit.ly/3riDBSW 

Topics discussed in this podcast:

• Investing with Patience
• Investing Checklist
• How to Invest
• When to Invest
• Best Time to Invest

Additional resources discussed in this podcast:

• Charlie Munger’s 4 Principles of Investing
• Bill Ackman’s 8 Point Checklist
• The Investment Checklist Pyramid
• Investing Checklist Logistics - Part 1

For show notes and more information visit www.investedpodcast.com.

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In this episode, Phil and Danielle walk through the first few steps of the Investing Checklist, explaining the importance of basic valuation, company research, and how your decision to include a company in your portfolio should be an iterative process.

You’ll also learn about helpful resources Phil, Danielle, and Rule #1 Workshop attendees use to see success, which are also linked below.

To dive deeper into the checklist, download your own copy of the must-have investing checklist for FREE here: https://bit.ly/303Fs2U 

Topics discussed in this podcast:

• Investing Checklist
• Company Valuation
• Investing Research
• Helpful investing tools
• Case Studies/Historical Examples of Companies that Have Passed the Investing Checklist Steps

Additional resources discussed in this podcast:

• Warren Buffet Partnership Letters
• Warren Buffet Berkshire Letters
• Bill Ackman’s 8 Point Checklist
• Rule #1 Investing Checklist
• Charlie Munger’s 4 Principles of Investing
• Evernote

For show notes and more information visit www.investedpodcast.com.

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These steps include understanding the business you’re interested in adding to your portfolio, finding a rational, trusted partner to bounce ideas off of, and completing each level of the 3-step investing research pyramid.

This week, Phil and Danielle Town break down all points of research you should consider and explain the 3-step investing research pyramid, which includes Charlie Munger’s 4-Step Investing Checklist, Bill Ackman’s 8 Principles to Successful Investing, and the Rule #1 Investing Checklist.

To help you complete your investing research pyramid in the most effective way possible, download the must-have investing checklist for FREE here: https://bit.ly/303Fs2U 

Topics discussed in this podcast:

• Investing Research
• Investing Checklist
• Charlie Munger
• Bill Ackman
• How to invest
• Investing for Beginners
• The First Step to Successful Investing

Additional resources discussed in this podcast:

• Charlie Munger’s 4 Point Checklist
• Bill Ackman’s 8 Point Checklist
• Rule #1 Investing Checklist

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Phil and Danielle discuss the importance of taking small steps and being patient with your comfort in investing in order to see success.

Taking your ego and hubris out of your investing process is going to be critical to success. While you may be excited and sometimes feel like you’re ready to take a big step when it comes to your portfolio, always be sure to take a step back and re-assess if you’re actually ready to take that step. 

To help you take that critical step back and fully understand where you’re putting your money, use Phil’s must-have investing checklist to guide you to success. Download it here:https://bit.ly/303Fs2U 

Topics discussed in this podcast:

• How to Invest Safely
• Investing Mistakes
• When to Invest
• Investing Preparedness
• Value Investing

For show notes and more information visit www.investedpodcast.com.

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Stemming from a conversation about the role of debt in Liberty Media Corporation’s purchase of Formula One Racing from last week’s episode, Phil and Danielle dive deep into a conversation about how to use the 10 cap formula to accurately find the true valuation of the company you’re investing in, even when they’re carrying around debt, to ensure you’re making the right investment decision.

Phil and Danielle also discuss the level of unpredictability of investing you should almost always expect, using the history and future of Tesla as an example.

Discover the 5 long-term advantages you should look for in your business investments in Phil’s free guide. Download it here: https://bit.ly/3nMiyEQ 

Topics discussed in this podcast:

• Value Investing
• How to factor debt into investment opportunities
• The 3 Fs of Shorting
• Unpredictability in Investing

Resources discussed in this podcast:

• InvestED by Danielle and Phil Town
• Investing Lessons from Formula One | Podcast Episode #340

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For sports fans — especially racing fans — Formula One Racing (owned by Liberty Media Corporation) seems like an attractive stock to add to your portfolio, as it’s one of the few opportunities to invest in sports.

As Phil returns from the United States Grand Prix, he and Danielle reflect on the sport growing in popularity and discuss when to give stock, like Formula 1, the green light to drive into your portfolio.

Phil and Danielle dive deep into the first step of the investing checklist to explain what the history of Formula One can teach you about investing and the importance of understanding the business behind your investment...before you actually buy.

Download the easy-to-use checklist discussed in the episode and learn how to find the best companies for your portfolio: https://bit.ly/3mivmDe 

Topics discussed in this podcast:

• Warren Buffett’s investing strategies
• Value investing
• Real-life investing
• Investing in Trusted Management
• Formula 1 Stock

Resources discussed in this podcast:

• The Innovation Stack by Jim McKelvey
• Bill Ackman’s 8 Principles
• Phil’s Go-To Investing Checklist

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Before you buy shares in a company, it is essential to thoroughly investigate that company’s mission, management, goals, outlook, and fundamentals.

Think of it this way: you would never buy 100% of a company without thorough due diligence, and, likewise, you shouldn’t buy a small percentage of a company without doing the same.

You can do your due diligence by using an investing checklist, so you can reduce your risk and maximize your profits over time.

In this podcast, Phil and Danielle discuss investing using a checklist, and how it oftentimes relates to experiences in the real world. 

Download my easy-to-use checklist and learn how to apply the Four Ms of investing: https://bit.ly/305Cr1p

Topics discussed in this podcast:

• Investing metaphors
• Real-life investing scenarios
• How to pick stocks
• The Four Ms of investing
• Company valuations
• Understanding companies 

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First, understand that Rule # 1 literally is “Don’t Lose Money,” but what it means in practical terms is to invest with certainty. 

Certainty comes from this: buying a wonderful business at an attractive price. The word “wonderful” actually encompasses three out of four elements in the Four Ms. This is a part of the must-have checklist before purchasing any stock.

In this podcast, Phil and Danielle discuss why sticking to this checklist is critical for never losing money in investing. 

Learn more about the Four Ms with this guide: https://bit.ly/305Cr1p

Topics discussed in this podcast:

• How to pick stocks
• The Four Ms of investing
• Company valuations
• Understanding companies 
• Recessions
• Market fluctuations

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If you want to really be a great Rule #1 investor, you must have an investing strategy in place to help guide you. 

You must create a story for the company you want to invest in and determine why this is a great company. Once you have that story, invert it by flipping to the opposite point of view. 

You should try to create the argument that this investment isn’t the best idea, and if you can’t, then that is a sign that you don’t know enough about the company yet.

So, as a part of your Four Ms checklist, one of the last steps is to invert. 

When you apply inversions to buying a business, there are four key reasons to look at: 

• You have a serious inversion for every key reason to own the business
• You know every reason not to buy a company, better than the short sellers
• For every inversion, you know a solid rebuttal that erases the inversion
• Short sellers are wrong!

In this podcast, Phil & Danielle cover why it’s important to invert along with four key things to consider for your checklist inversions.

Learn more about buying wonderful companies with the Four Ms Guide! Click here to get started: https://bit.ly/3uHlZ2T

Topics discussed in this podcast:

• How to Create a Story
• Why You Should Always Invert
• How to Invert to Own a Business
• Four Key Points of Inversions
• Relating to Chipotle & Gamestop

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Smart investors are those that are disciplined and have an investing strategy in place to help guide them as they go along with their investment choices. And that includes having a checklist to help you make important investing decisions.

Rule #1 investors like to use the Four Ms checklist.

They tie into the strategy of, “Buying wonderful businesses at attractive prices” and are important to consider when investing your money for the long-term.

“Wonderful” indicates that any business you invest in strongly meets the criteria of three of the Four Ms:

• Meaning: You understand the business enough to want to own the whole thing if you could, that you’d be proud to own it, and that it reflects your values.
• Moat: The business must meet certain criteria in terms of financial strength and predictability, creating a symbolic Moat to surround and protect it from competitors.
• Management: The business is led by skilled, experienced individuals that you respect.
• Margin of Safety: You are buying the business on sale relative to a known value (which I teach you to calculate easily).

Rule #1 is straightforward, but you must be thorough. That’s why Phil created this Four Ms Checklist to help make sure you don’t miss a thing. 

In this podcast, Danielle covers a few of her checklist takeaways, and explains why it’s important to have your own checklist and stick to it to reduce your risk in the stock market.

Learn more about buying stocks on sale with the Four Ms Guide! Click here to get started: https://bit.ly/3ocoMQg

Topics discussed in this podcast:

• Stock market events
• How to find stocks on sale
• How to pick stocks
• Company valuations
• Understanding companies 

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Let’s say that cotton prices start to go nuts because of the Arab Spring. Maybe they’re not going to harvest Egyptian cotton crops, so cotton prices go from $1 to $3. The guys who own companies that depend on cotton prices to be low look at the price and say, “Oh no. It’s going to take over a year before cotton prices come down, I need to get out of this company.”

This happens even if there isn’t anything wrong with the company, it’s just going to have a bad year. That company could go from $45 to $15 simply because there are no big buyers. They all get out of the company on momentum. This is what causes stock market prices to change.

So, how do Rule #1 Investors take advantage of stock market events?

Rule #1 investors buy for the long term. They wait, and when they see something that’s on sale because the big guys have sold it off, it takes them just a few seconds to get in there and take advantage of these stock market events.

In this episode of the InvestED podcast, Phil and Danielle discuss stock market events more in-depth, and how to take advantage of when stocks go on sale.

Learn more about buying stocks on sale with the Four Ms Guide! Click here to get started: https://bit.ly/3hRUZs1

Topics discussed in this podcast:

• Stock market events
• How to find stocks on sale
• Uncertainty in the market
• Warren Buffett
• Tesla

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What’s a Rule #1 event? It is when something happens that affects the entire market and makes the stock price of a good company drop far below its real value. This could be a recession, a pandemic, an election — you name it. 

Remember, the stock price doesn’t reflect the actual value of the company. We know that the company’s price will bounce back in time, and because we take a long-term approach to investing in stocks, we aren’t worried. 

During an event, when others are panicking, we can take advantage of the downturn and buy wonderful companies at a tremendous discount.  

This is why it’s so important to have your watchlist of wonderful companies ready to go. When you do, you can just sit back and wait for a Rule #1 event to temporarily lower the price of the stocks on your watchlist, and then BUY. When the company recovers from the event and returns to its previous price, your investment could double.

In this episode of the InvestED podcast, Phil and Danielle discuss stock market events more in-depth, and how to take advantage of these opportunities as an investor.

Learn more about buying stocks on sale with the Four Ms Guide! Click here to get started: https://bit.ly/3Ac9Ogl

Topics discussed in this podcast:

• Stock market events
• How to find stocks on sale
• Uncertainty in the market
• Greed in the market
• Warren Buffett
• Mohnish Pabrai
• Valuation methods
• Chipotle stock recovery

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Consistently pouring your life and efforts into the things you care about — that matters. As much as 85% of the stock market is controlled by small investors.

Imagine the impact those small investors could have if they invested based on their passions and values, rather than the values (or just the blind greed) that drives financial institutions’ investment decisions.

You can choose to invest in whatever you want and wherever your passions lie. And the great thing about it is that everyone values something different. Invest in stocks that you value.

If you’re not sure what your values are, it’s time to step back and do a little searching. In general, it might make sense not to invest in products or companies that make the world a worse place to live in, but that’s totally up to you.

In today’s episode, Phil and Danielle talk about taking charge of your investments and making sure that you’re putting your money where your passions and values lie.

Because at the end of the day, you’re better off knowing that you’ve used your resources as wisely as possible, and that you’ve done your best with what you’ve got.

Learn more about investing in companies that you already know and love with this Four Ms Guide! Click here to get started: https://bit.ly/2X0sRvq

Topics discussed in this podcast:

• Warren Buffett
• How to pick stocks
• Company analysis
• Investing with your values
• COVID-19 vaccines

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First, we focus on Warren Buffett’s 1979 letter, where inflation rose to 11.2% in the United States. Buffett decided to write about this in the letter along with larger financial issues in the macro-economic world. He starts by telling other investors that we do not know what will happen with the stock market or the underlying currency. Long-term fixed interest bonds may not continue to serve as a financial instrument and may even become obsolete. 

Warren Buffett also points out that there’s no corporate solution to the problem of growing inflation. As currency becomes more worthless, companies do not have a solution to this problem - they just have to do their best. As we fast forward to the early 1980s, Warren Buffett writes some solutions to these types of problems. 

First, choose an investment that is adaptable to inflation. This means that earnings will increase consistently with its raised prices without adding in additional capital.

The second solution is to choose an investment with very little bad debt, which could sink the company. And lastly, shift your measure of success from earnings, which no longer mean anything on their own, to gains and purchasing power.

Danielle leaves us with a final thought on how the pace of economic change has become breathtaking and we need to be ready to adapt.

If you want to learn more about what type of companies to look for that can withstand inflation and this uncertain market, register for my NEW investing webinar: https://bit.ly/3mQCVlh

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It’s a shortcut that you, as an investor, can use to estimate if an investment will double your money quickly enough to be worth pursuing. When you see how quickly your money can double, you’ll understand the power of compound interest. 

Compound interest is what makes you wealthy over time; the longer your money is invested, the more it grows. But, how?

As you earn interest on your initial investment, those earnings are added to the initial amount while earning interest. This produces more earnings, which can then be reinvested as well. 

It’s a powerful cycle that can lead to incredible growth. The Rule of 72 paints a picture of how quickly your money can grow without any additional investment on your part. 

You don’t need a special ‘Rule of 72’ calculator to figure out this equation — it’s easy. 

Simply divide 72 by the fixed annual rate of return and you’ll know how many years it will take for your money to double. 

72 / rate of return = # of years

If you’re trying to compute when your money will double at a given interest rate, this formula can be used to determine the interest rate you need your money to double in a set timeframe: 

72 / # of years = rate of return

In this vault episode of the InvestED podcast, Phil and Danielle discuss the Rule of 72 more in-depth and explain why it’s critical to understand this rule in order to be a great investor.

Topics discussed in this episode:

• Rule of 72
• Compound interest
• How to pick stocks
• How to double your money

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Take gold, for example. The price of gold rises and falls, depending on the demand.

Demand tends to go up only when people are feeling afraid or uncertain about the future. The problem with investing in gold is that you can’t accurately predict what the demand will be at any particular time. That makes investing in gold more like gambling than like smart investing.

If you really want to learn how to invest the smart way, it takes a good amount of due diligence and patience but the long-term payoff is worth it. By following smart investment practices that have made people like Warren Buffett extremely wealthy, you may not make money fast, but you have the potential to make more of it.

Warren Buffett started with a small amount of money too, and he turned it into $30 billion. This goes to show that it isn’t about the money you have, it’s about the knowledge you have. 

In this vault episode of the InvestED podcast, Phil and Danielle discuss investing in commodities, whether or not they keep up with inflation, and in what scenarios they could be a worthwhile investment despite their inherent risk. 

If you want to learn how to reduce your risk while investing, check out this guide where Phil explains how to pick stocks the Rule #1 way: https://bit.ly/3fX1adE

Topics discussed in this episode:

• Valuation methods of investing
• Types of investments
• How to pick stocks
• Commodity stocks

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A commodity stock has several key attributes:

• Its products compete primarily on price, but it is not a low-price competitor.
• Its products are the same as another company’s products.
• It has no brand identification. 
• It can’t raise its prices with inflation or increasing costs.  

Let’s take gold for example. The practice of investing in gold goes way back, but that doesn’t necessarily mean it’s a great investment. Gold’s price is based on scarcity and fear, which can be impacted by political actions or environmental changes. 

If you are investing in gold, be aware that your protection against a price drop, your moat, is based on external factors so the price can fluctuate a lot, and quickly. The price tends to go up when scarcity and fear are abundant and down when gold is widely available and fear is abated.

If you think the world is going to be a more fearful place in the future, then gold could be a good investment for you. But this isn’t the case for everyone. 

In this vault episode of the InvestED podcast, Phil and Danielle delve further into commodities and discuss what sets them apart from other types of investments.

If you want to learn more about how to pick the right investments for you and your lifestyle, check out this guide where Phil explains these principles more in-depth: https://bit.ly/3CGUQkf

Topics discussed in this episode:

• Valuation methods of investing
• Types of investments
• How to pick stocks
• Commodity stocks

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Why does Phil call it the Sticker Price? You know how you have a sticker on the window of a new car and it tells you what the price of the car is, and you never pay the Sticker Price? That’s why we named the value of the business the “Sticker Price.”

Rule #1 investors never pay the Sticker Price. They always want to buy it at a significant discount to its true value.

How do you find the Sticker Price? That’s the critical part of this whole equation of understanding what businesses to buy. First, you have to make sure it’s a business that you understand the meaning of. You understand it has a big, durable moat and it has a great management team. Now you can start looking for the value.

Next, in order to evaluate the Sticker Price you want to find the Future Growth Rate, the P/E Ratio, and your Minimum Acceptable Rate of Return. The Future Growth Rate is always an estimate, the other numbers you can find on financial statements and plug them into the calculator above to see the value, or Sticker Price, of the company's stock. Next, you simply cut that price in half (or take 50%) and that is your Margin of Safety price.

For example, if you wanted to buy into a business that was worth $80 per share (Sticker Price), you would look for a Margin of Safety of $40. If the company cannot be bought at $40, then you should add it to your watchlist, update your calculations periodically as new information becomes available, and exercise patience.

This week on InvestED, Phil and Danielle discuss Phil’s investing valuation checklist more in-depth and discuss why it’s critical to only purchase companies with a large Margin of Safety, at a discounted Sticker Price.

If you want to learn more about evaluating companies using the Four Ms of Rule #1 Investing, check out this guide where Phil explains these principles more in-depth: https://bit.ly/37hIOPv

Topics discussed in this episode:

• Valuation methods of investing
• Rational investing
• The Four Ms of investing
• How to pick stocks
• Chipotle Stock
• Warren Buffett
• Charlie Munger

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So, what is a wonderful business? 

A wonderful business is understandable, and we’re passionate about it. We call that the meaning of the business. It’s durable, we call that the moat. Like the water around a castle protects it from attack. 

The CEO is honest, passionate, and owner-oriented, and we call that management. Those are the first three M’s. We make sure that we understand all three M’s before we go forward, then we look at the price.

Ben Graham, who taught Warren Buffett how to do this said, “The three most important words in investing are margin of safety”.

The margin of safety is a measure of how “on sale” a company’s stock price is compared to the true value of the company.

You need to be able to determine the value of a company and from that value determine a “buy price”. The difference between the two is the margin of safety. The goal is to find wonderful companies for 50% off their actual value. This allows you to purchase a company when it is undervalued at a price that all but guarantees a great return on your investment.

This week on InvestED, Phil and Danielle discuss Phil’s investing checklist in-depth and explain why it is the essence of Rule #1 Investing, as well as value investing as a whole.

If you want to learn more about the Four Ms of Rule #1 Investing, check out this guide where I explain these principles more in-depth: https://bit.ly/3eZYvPQ

Topics discussed in this episode:

• Warren Buffett
• Charlie Munger
• Valuation methods of investing
• Rational investing
• The Four Ms of investing
• How to pick stocks

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That checklist includes only investing in simple and predictable businesses with a dominant market position, limited risk, a strong balance sheet, excellent management, high return on capital, free cash flow generative, and large barriers to entry.

Sound familiar?

There’s a lot of talk in the financial community about “diversification,” which simply means investing your money in a variety of ways in order to provide a safety net should one investment go south. The thing is, you don’t need to diversify if you know how to invest and understand what you are investing in.

By taking the time to research and learn about the companies you are investing in, you are providing your own safety net, because you won’t invest in any company that doesn’t meet the standards for a wonderful company, as it is defined in Rule #1 Investing. That is key. 

This week on InvestED, Phil and Danielle discuss Bill Ackman’s checklist more in-depth, and explain why you can’t blindly put your money in stocks chosen at random and expect to achieve great returns.

In order to succeed investing in the stock market, you have to use a system and a strategy. Learn how to find and pick quality stocks with this FREE Four Ms Guide: https://bit.ly/3krSdvB

Topics discussed in this episode:

• Bill Ackman
• Valuation methods of investing
• Rational investing
• Tesla stock
• Coca-Cola stock

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Michael Burry has been in the news recently after regulatory filings revealed that he had PUT options on more than 800,000 shares of Tesla (TSLA).