Hi everybody this is Phil Towne this is Phil Towne and we're here with the

Investing podcast where we talk about stuff like Rule 1 investing and how to feel good

about what you're doing with your money how to come up with with what to do with

your money in the first place?

Is it really possible to buy $10 worth of value for only $5 the way Buffett says he does it?

Well, that's the $10 question that is

$10 question that's that's you know he obviously does it right I mean you can't you can't fault that, although there are still people who are

strong efficient market theorists who argue that you're always going to have these three four Sigma events right where where you're in a

random you're in a random marketplace or in a random game like flipping coins and or a roulette wheel or something like that where there's

known probabilities and there's always going to be that coin flip that goes 100 heads in a row, which they would argue is, you know, way, the normal

standard deviation is, you know, one Sigma is like 67% probability and then two Sigma is like 95 and then three

Sigma is like 99% unlikely and then four Sigma is is 99.7% unlikely or whatever and 5 Sigma of it is 99.99.99 unlikely and then 6, you see what I'm saying?

They're these potentially possible once in a billion years

Sigma events.

And one guy recently said,

Warren Buffett is a six Sigma event.

He's one guy like that in a billion billion years in the universe.

He's essentially a statistical, not quite anomaly, but statistical, I don't know.

I think anomalies are right word.

He's a statistical anomaly.

Well, you're right, he's not an anomaly though,

because it's predicted by the statistics

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