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

and welcome to the invested podcast where we're learning to invest like Warren Buffett, Charlie Munger, and other great long-time value-type investors who buy a relatively small number of companies and hold them for a relatively long period of time.

They're buying them well below intrinsic value, which is what they're worth,

and they're selling them when they get up to intrinsic value or more if they're not continuing to grow quickly.

And this is what we're learning to do, and the reason we're learning to do it is because my daughter

Danielle is learning to invest from me.

And I've written a couple of good books about this.

And we just finished a book that is now out

called Invested, where we take Daniel

through the process of learning over the last year or so over a year period of time and

You Charlie Munger and Warren Buffett all together all together

together teaching her to invest and it is a really good book if you haven't read it yet.

Take it take a second and grab it and read it.

It's super good and it's a real good basis for this podcast and for any kind of investing you're going to do and

the reason we're taking our time doing this the reason we want you to learn this stuff

is because there is a major paradigm shift going on in the in the world of investing

philosophy from what's been the paradigm for the last gosh 40 years which says

that the market's always rational and its price correctly and that price and value are the same thing in companies.

And therefore, the only way to invest is to diversify broadly across enough stocks in the market, that you

get the general market result, and you can't beat the market.

Nobody can beat the market.

And of course, if everything that theory holds is true, then they'd be right.

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