Hi everybody this is Phil Town this is Phil Town

this is Danielle Town. We're here for the invested podcast where we're talking

about investing Warren Buffett style

Charlie Munger style what we call Rule 1 style I feel like I need to define it

better every time we do a podcast and we've done over what 200 of them and I've defined it differently every single time

Slightly yeah, but I really enjoy all of your different definitions

My favorite one all of your different definitions. Usually it's something like Warren Buffett says it's the best so it is. Here's the hardest one is we're gonna buy

ten dollar bills for five dollars It's like yeah that sounds really hard.

Well it doesn't sound hard it just sounds like what where how do you do that?

Yeah it sounds like what?

And then here's the easiest one.

I love this one.

We're gonna buy something now because we know it'll be worth more

in 10 years.

Yeah, that's my favorite because again if we all knew that none of us would

have any problems in our lives with money. I know and it's such a low bar all it has to do is be worth more like a

dollar more in 10 years and we have succeeded in avoiding violation of

rule number one which is don't lose money and I know money's value

over time is declining but let's just stay to the literal interpretation.

Keep it simple. Speaking of not simple.

What's that?

Bit coin is something that I cracked me.

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