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InvestED: The Rule #1 Investing Podcast

439- FROM THE VAULT: Speculating vs. Investing

InvestED: The Rule #1 Investing Podcast

Phil Town & Danielle Town

Investing, Business

4.61.6K Ratings

🗓️ 11 October 2023

⏱️ 44 minutes

🧾️ Download transcript

Summary

Before purchasing a company, Rule #1 Investors conduct extensive research to ensure that the company they intend to acquire aligns with the four key principles laid out by Charlie Munger. These principles are meaning, moat, management, and margin of safety. In this week's Vault episode, Phil and Danielle return to the topic from last week’s listener question to dive into a discussion about the distinction between investing and speculating. They also take a closer look at the concept of "risky investing" and why Rule #1 considers the term an oxymoron. To see how your investing knowledge stacks up and find ways to improve your approach to the practice, click here to take the Rule #1 Investing IQ quiz: https://bit.ly/3Faf7ks Topics Discussed: Buffett and Munger Depression-era investing The value of good management Venture capital Equity bonds Investing vs. gambling Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

Here's something that will blow you away, heat pumps, the low carbion future of home heating,

0:07.0

and now is the perfect time to upgrade with a 7,500 pound government grunt.

0:13.0

And if you get yours from British gas, we guarantee you will heat your home to your perfect temperature,

0:18.0

or your money back.

0:20.0

And what's more, we won't be beating on price.

0:23.0

So it's British gas, heat pumps, exclusions and conditions of the flag, government grunt subject to an eligibility.

0:30.0

Hey everybody, welcome to invested. I'm Danielle Towne.

0:43.0

I really should have done this in the opposite order, but I wasn't sure if we were going to be able to record this week.

0:48.0

So here is one from the vault also on investing versus speculating just like last week,

0:54.0

but this one is from way back at the very beginning, like very beginning.

1:01.0

Like I was like, my head was swirling about this long term public investing stuff.

1:09.0

And as a private company attorney who worked with emerging companies in venture capital,

1:16.0

the concept of investing being more certain than the people I worked with made zero cents to me.

1:24.0

And yeah, this is, I suppose, second in our little series here on speculation versus investing.

1:33.0

So enjoy. I'm sure you'll notice differences in the way we talk about things.

1:38.0

And we'll be back next week. Thanks everybody. Have a great week.

1:42.0

Bye.

1:45.0

Hi everybody. This is Phil Towne. And this is Danielle Towne.

1:48.0

We're here for the invested podcast where we talk about investing in businesses, also known as stocks.

1:56.0

We talk about buying the whole business or acting as if you buy the whole business.

2:02.0

Exactly. You buy one share of stock.

2:04.0

And we've been, we've been talking lately about the basic idea that Warren Buffett has.

...

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