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

and we're here for the invested podcast where we are really digging in. We are taking heart. We are taking heart. We are

Warren Buffett Charlie Munger's style investors which we call rulers,

Rule 1 investors following the rule of investors. style investors which we call rulers,

rule one investors following the rule of investing.

Warren Buffett said there's two rules of investing.

Rule number one, don't lose money.

Rule number two, don't forget rule number one. And of course I want to reiterate why

rule number one isn't a joke like buy low sell high is the secret to great profits.

Rule number one isn't about buy low sell high. Rule number one isn't about buy-low sell high. Rule

number one is about not focusing on making a money in the stock market. It's about

shifting your focus from making money to being very careful not to lose it.

And this is really important if you're going to do this kind of investing.

You can't invest like this with an eye on what you're going to make because you will make

mistakes with that wrong focus. You have to invest with an eye on never making an investment where you could lose money.

That's the deal.

It's such a like Zen attitude and of course because it's like that I love it desperately and yet I remember

Sometime at the one we did some early episode of this podcast where we did a whole bunch of discussion on that because I didn't get it at all.

I was like it doesn't, it's so obvious like what's the point of saying this dumb sentence, don't lose money like hello. like,

what's the point of saying this dumb sentence,

don't lose money, like hello, you're right,

everybody agrees with you,

...