This episode is brought to you by Pepsi Max. Christmas is great, but there's loads of ways to make it better.

Like sneaking some chili into the gravy for some extra ink, or building a playlist that will even get your

none up on the table or just cracking open an ice cold Pepsi Max. Christmas better with Pepsi Max Christmas.

Better with Pepsi Max. Hey everybody this is Phil Town and this is Danielle Town.

Welcome to the Invested Podcast. We are learning teaching investing, Warren Buffett and Charlie Munger style, and what that really boils

down to is buying a few wonderful companies, Charlie calls this focused investing we found out last week.

I like that you remembered. Yeah, pretty good. We're buying a few wonderful businesses

and we're going to sit on them and they're going to compound our money and make us wealthier and that is the idea and

that sounds great where do I sign up yeah and the catch is not so much, well there's two catches, you got to figure out what of the many wonderful

businesses that are out there, which ones you can really understand, and you've got to buy them when they're on sale and that on sale thing is really a puzzle right now because man alive it's the markets have been

screamingly high for the last three years.

And they are starting to kind of pop around now

and maybe start to indicate that might be going down.

But buying companies at this level right here,

at the prices people are paying for them, especially if you

diversify and buy a whole bunch of them, have historically resulted in nearly

zero percent rates of return over the next 20 years.

And if that doesn't get your attention

for your retirement and your potential for living well,

I'm sorry, you're not paying attention. You need to be paying attention I think

don't you tell you most of us are not paying attention. This is true. That's my own

personal experience which is really really scary. I'm telling you really scary? Really scary.

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