Hey everybody this is Phil Town

this is Phil Town this is Danielle Town

and welcome to the invested podcast we're here to talk about how to invest like, you know, the best investors in the world.

Charlie Munger, Warren Buffett, people who are investing, using a very specific strategy

where you're focused on really a couple basic simple things that

we're talking about that when you unpack them turn out to be full of possible

minds to step on.

But...

That's true, Dad.

The basic things are very, very basic.

You buy a company when you have a very high degree of confidence that

that company is going to be worth more than you paid for it in about 10 years and

that's just a fundamental criteria and then figuring out how to know

that that's the case that's you know that's kind of where the rubber meets the road.

Yeah exactly and last time we Robert meets the road. Yeah, exactly.

And last time we talked about the broader market in general.

We talked about how afraid we should be.

And we talked about what people should be doing who are currently invested in the market and how to prepare for

what's happening with this market.

And then we wrapped up talking about psychology and what the

psychology of being an investor is. So today we wanted to talk about some

behavioral economics which is a fancy word or a fancy phrase,

...