Hey everybody this is Phil Town and this is

Phil Town and this is Danielle Town.

Welcome to the invested podcast where things are getting rather interesting. Yes they are, yes they are. We invest as much as we can the way

Warren Buffett and Charlie Munger have taught us. They learned this investing strategy we call

rule number one from Ben Graham and typically the strategy depends on

being very patient not doing much for quite a long time rather than just putting

together a list of companies you want to own and knowing what they should be bought at as

a margin of safety price, and then waiting for him to go on sale from an event.

And man, we have been waiting for a broad event probably for two or three years, expecting at some point that this country has to go into

recession and the Federal Reserve has taken on an entirely new role of

preventing the company from going into recession

rather than causing one, which was their old role.

The country, the country, preventing the country.

The country, rather than causing recessions,

which is how it kept a lid on inflation and now they just prevent them with ever more

cash flowing into the economy until we have a crisis and we have one now that is created by as you guys all

know the coronavirus which basically shut down the world economy for some chunk of time and it's shutting down the US economy for

some chunk of time and the impact of that is something that's unknown at this

point other than it's not good and stocks have responded with an enormous drop, historic

drops and historic bounces that go where the stock market's gone straight up historically levels here extreme

volatility unlike anything we've seen in history which is really saying

something yeah yeah remember when we spend a bunch of time talking

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