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InvestED: The Rule #1 Investing Podcast

190- Circle of Competence

InvestED: The Rule #1 Investing Podcast

Phil Town & Danielle Town

Investing, Business

4.61.6K Ratings

🗓️ 27 November 2018

⏱️ 28 minutes

🧾️ Download transcript

Summary

In this week’s episode, we’ll discuss the importance of the circle of competence and that you should be careful about investing in anything that you don’t have a great understanding of. We also talk about what you should avoid as an investor. For show notes and more info, visit ruleoneinvesting.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

This Winter, memberships will never be the same again.

0:03.4

Amazon Prime presents Eddie Murphy's new Christmas movie, Candy Kane Lane, and Fast Delivery,

0:09.0

all for 899 a month. I've got to sign up now.

0:12.2

Get great entertainment and fast delivery,

0:15.0

all for 899 a month.

0:17.0

It's on prime.

0:18.0

Geographic restrictions and Ties and Ties and Sies apply 18 plus. Hey everybody this is Phil Town

0:26.3

this is Phil Town and this is Danielle Town.

0:28.1

Welcome to the Invested Podcast we are diving into the deep water of investing your own money, your very own money, not

0:37.0

letting some financial advisor do it for you, not having the financial advice priest class tell you how to talk to God.

0:48.0

That's a good one.

0:50.0

This is a reference to the Gutenberg printing press completely changing the way the world functions.

0:56.5

Made the world made literacy possible for the little guy by printing the Bible all over the place and these guys giving it away, literacy happened,

1:05.0

then democracy happened. And today, financial literacy is happening because of the internet.

1:10.4

All of that valuable financial information that used to be hoarded behind high walls on Wall Street and paid for at the tune of $50,000 a year for data is now available online, virtually free.

1:26.8

It's just a question of how much do you want to save some time you can pay for some tools.

1:30.8

But if you just want the data, the way you used to get it out of the library, it's free and it's fast.

1:36.0

And you can do it all yourself.

1:38.0

So financial literacy is now possible and we are teaching you how to take advantage of these tools that are out there now.

1:45.3

It's pretty cool. Well, you're teaching me is what's happening here. Yes. I'm trying to

1:52.2

figure this stuff out. That was a good intro though. I liked that one. You know people say to me that they love all the different intro as you give. So I don't think we should ever come up with a canned boring intro.

2:04.5

Okay, no canned boring intros at all.

...

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