201- Investing Success & Indexing

InvestED: The Rule #1 Investing Podcast

Phil Town & Danielle Town

Business, Investing

4.6 • 1.6K Ratings

🗓️ 19 February 2019

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

This week, Phil and Danielle continue their discussion of Ray Dalio’s 5 principles for inevitable success. If you haven’t listened to episode 200 you probably want to start there. We also discuss how difficult it is to understand why you made a mistake and how to fix it. Phil thinks that most of the time mistakes happen because you don’t fully understand something. Phil illustrates this by telling the story of the almond orchard that he purchased. The most important thing that you can do to tell if you truly understand something is to invert the entire story. Finally, we talk about index investing. When you invest in an index, you’re effectively betting on the economy of another country. There might occasionally be a company in Canada, Europe, China, or Turkey you might want to invest in, but you have to consider the government of each of these countries and what they could potentially do to that business. For show notes and more information visit www.investedpodcast.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Whether it's an under the radar genre or a proper out there podcast, sometimes it's better when you get weird, especially when it comes to switching up your soft drink, introducing new Dr Pepper Zero
0:12.6	with the same blend of 23 unique flavors,
0:15.4	it tastes just as weird as regular Dr Pepper,
0:18.9	but with zero sugar and zero calories.
0:21.7	It's a taste you can't quite put your finger on.
0:24.1	Weird. But in a surprisingly good way, try more weird with Dr Pepper Zero. Hey everybody this is skill town
0:36.4	this is skill town and this is Danielle town welcome to the invested podcast where we are
0:40.8	figuring out how to be a great investor. I mean it's I gets right down to it is
0:47.0	how to be a great investor not not a not a speculator not an ignorant person that just pours money into a 401k and hopes for the best down the road,
0:57.4	but somebody actually knows how to buy things that are really high quality companies when they're on sale.
1:04.0	That's what we're after.
1:05.0	Yeah, I like that.
1:07.0	Sissinct, succinct analysis.
1:10.0	And this is our 201st podcast and we started the 200
1:16.5	podcast with Ray Dahlio's view of the five things that you must do and if you do them you will inevitably become successful.
1:26.0	Yes and we made it through two of them. We did so let me run through the five again.
1:32.4	Yeah I was just gonna say for anybody who missed that episode I would recommend going back and listening, but yeah, let's run through all five.
1:38.8	Okay, number one, set goals. Number 2, notice your mistakes.
1:43.4	No, no, no, no, no, no, no, no,
1:44.4	set audacious goals, you said.
1:47.3	Right, okay, set audacious goals.
1:50.2	Yeah, big audacious goals.
	...

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