Hey everybody this is Phil Town and this is Phil Town and this is Danielle Town

we're here for the invested podcast where we're learning to invest Warren Buffett Charlie Munger style we call it

Rule 1 investing for the main rule of investing don't lose money well we're

really just really digging in on how to invest and that means invest, not speculate, that means buying things for less than their worth so that you have a nice margin of safety and can expect to get a good

return on your investments in spite of the vicissitudes of life.

Oh, those bloody vicissitudes.

Yep, they will mess with you good if you don't get margins of safety.

So what we're deep into here is understanding why Jeff Bizos paid $42 a share for Whole Foods when it was selling for about $32 when he made the offer.

And we're looking at trying to understand his method of value in the business.

I have an idea, Daniel, how we should proceed.

I think I should plug in, I want to plug in Jeff's number.

He bought it for 42 bucks a share. What I want to know is what does that mean in terms

of our view of growth rates and PE ratios for our margin of safety analysis what does it mean that he bought in terms of growth?

You're saying you want to look at what growth rate he was anticipating for this company. Yeah, if he paid this much, what does that mean in

terms of how fast this company has to grow in order to make sense out of that investment.

And for us...

Let's look at what he thinks, but I still want to figure out how we, without the

Bizos knowledge, how we figure it out on our own.

Can we do that afterwards?

Yeah, for sure.

Okay.

Okay, so we're starting with some basic data, okay,

...