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Geographic restrictions and teas and sees apply 18 plus. Hey everybody this is Phil Town and this is Phil Town and this is Danielle Town

and here we are for the Invested Podcast yet again we're so excited because we are going through the process of explaining as

best we can how to do Warren Buffett Charlie Munger style what is sometimes called value investing,

but which we think is a subset of value investing that we also call

Rule 1 type investing, which basically involves buying a relatively small number of companies

that you intend to hold forever, which you buy because they are two things, wonderful and

on sale, and you can know that they're wonderful because of two things three things they are

Submarizing 180 days just continuing on and on.

Because one, you're capable of understanding the business

and you do in fact understand the business

the way you would understand like buying the house

next door to rent out to somebody. You understand the

neighborhood, you understand the foundation's good, you understand who's going to

manage it, and you got the numbers. You understand the business and the

business has a protective moat. It is a durably competitive business, meaning like the house next door, it's in a great neighborhood. It's going to stay great for a long time.

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