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

welcome to the invested podcast where we're talking about how to invest like the

best investors in the world

Warren Buffett Charlie Munger deep value in my dad we can add that now dad

since it's the title of our book invested. That's right.

Except for this podcast where we're not talking about how they do it.

We're talking about one little tweak,

maybe a little tweak, because as we were saying last time that we have a certain advantage of being small and

nimble that Warren and Charlie have long ago given up. But they used to use that advantage substantially

by doing lots of different kinds of options trades and lots of merger acquisition

kinds of trades and much much different than their you know sort of

historical sort of track record would indicate and and this is not to say that Warren and Charlie are traders per se but that they didn't just do long you know long value investing.

There's another element, right, back in the day.

Okay, wait a second now.

This is, you might have mentioned this before,

but I'm feeling like it's new information for some reason.

So I mean it would make sense I guess that they wouldn't do only long trades because people who are really smart and

who get really into this stuff tend to do other kinds of investing other kinds of I guess you would call it trading not investing right right right where we're speculating to a degree. So what long, long trades, the term means

is that it's what I think of is just buying a company.

You're just straight up, buy the stock of a company, the the end and you hope it goes up eventually.

Right and you're on you're on with with Warren and Charlie right there.

Yeah, yeah, yeah. And then the opposite of a long trade just to be clear here for everybody who doesn't know,

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