Hey everybody this is Phil Towne

this is Phil Towne and this is Danielle town we're here for the invested

podcast where we're talking about investing as opposed to other things investing your money

or about my daughter you said last time you said you didn't know what definition to use or what description to use and today you just went with investing.

Investing. What more do you need to know?

Okay, so what's investing, Daniel?

Investing is when you put money into something with a high degree of certainty that more money will come back to you in the future.

That is freaking gold-plated.

Outstanding. You look up investing in the dictionary you see a picture of

dandel. Oh that's really good that was really good that's exactly right

Approximately 97 hours for me to learn that. But you got it and that's huge because most people

think of investing is all kinds of things you know they think putting money

into Picasso is a Picasso painting is investing you know and

We think it's speculating so those are different and we want to keep in mind why

When we invest we should have a very, as you said, a very high

degree of certainty that we're going to come out really good on this thing. We're going

to come out with more money than we started with down the road, typically over a 10-year view of things. And we put all kinds of, you know, ideas or rules on how to do that properly, which is the source of the podcast.

I disagree on the Picasso example

because you always use things like,

oh, like venture capital investing is not investing

and like art investing is not investing,

but I would argue that for some people,

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