This episode is brought to you by Kraken.

Krypto is like the financial system, but different.

He doesn't care where you come from,

what you look like, your credit score,

or your outrageous food delivery habits.

crypto is financed for everyone, everywhere, all the time.

Visit Krakon.com slash see what crypto can be.

To learn more, Don't invest in

unless you're prepared to lose all the money you invest.

This is a high-risk investment and you should not expect to be

protected if something goes wrong. Hey everybody this is Phil Town and this is Phil Town and this is Daniel Town

Welcome to the Invested Podcast where we are working through the process of investing according to the best investors in the world.

Charlie Munger, Warren Buffett, Ben Graham, sometimes this is called value investing,

I think it's the wrong name for it. We would buy

Amazon in a heartbeat if we can get it at the right price. So we're not that sort of easily classified. What we're looking for is buying $10 bills at $5. And I don't

care if the $10 bill is Amazon or Facebook or, you know, a chocolate company that grows at 4%. I just want to buy a $10 bill for $5.

That's the whole idea.

I don't want to lose money.

One by run by wonderful people who have values that match your values.

Absolutely.

I thought since there's so large there's a large number of us out here doing this kind of investing and I thought I'd just read really quickly a letter from

2008 from Alan Meacham to his investors at Arlington.

...