Hey everybody this is

this is Phil Town and this is Danielle town

welcome to the invested podcast where we're

studying Warren Buffett charlemunger we're studying the great

investors in the world who follow what we call the

Rule 1 investing strategy. And Danielle, my lovely beautiful, wonderful daughter, is learning with me and I'm learning from her and it's it's quite interesting I think

how we're doing this we're down it we're about it in our hundred and third we're on hundred and four

hundred and four yeah means we've spent let's say a hundred hours talking about

this now together which is pretty nuts.

Yeah it is that's like a couple of weeks to two to almost three weeks of

chatting about it full time as a a job, you know, two or three weeks.

You think about it, when I started learning this stuff, I was kind of an apprentice out to a

guy who took me under his wing, who had become a very successful investor in this strategy and it's kind of a family.

I mean it goes around kind of word of mouth.

They don't teach this or they didn't use to teach this in any business schools anywhere.

And the reason that they didn't teach it anywhere, Charlie Munger says of course is it's too simple

but that's just Charlie being funny.

The...

It's Charlie saying it's obvious like you don't really need to learn it and then the rest of us who are not Charlie Munger like wait a second we need to spend hours figuring this thing out.

Trying to figure out what he what he really means but the the real reason it isn't taught anywhere is because it

violates the fundamental rules and it it basically says that the that the fundamental axioms of the modern portfolio theory paradigm,

which are how your mutual fund is invested almost entirely.

...