458- FROM THE VAULT: Checklist Inversion

InvestED: The Rule #1 Investing Podcast

Phil Town & Danielle Town

Investing, Business

4.6 • 1.6K Ratings

🗓️ 6 March 2024

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

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Summary

"Invert, always invert" — Charlie Munger To become a top-notch Rule #1 investor, having a well-defined investing strategy is essential. It starts with crafting a compelling narrative for the company you're eyeing and understanding why it's a stellar investment. But here's the twist: flip that narrative on its head and scrutinize the opposing viewpoint. Challenge yourself to construct a case against the investment. If you can't, it's a sign that you might lack comprehensive knowledge about the company. When applying inversions to business acquisitions, consider formulating a robust inversion for every reason supporting the purchase. Familiarize yourself with every argument against buying the company, surpassing even the short sellers' insights. Develop compelling rebuttals for each inversion, effectively nullifying them and proving the short sellers wrong! Join Phil & Danielle in this throwback episode as they delve into the significance of inversion and highlight four essential aspects to contemplate when integrating it into your investing strategy. Click here for your copy of The Four Ms for Successful Investing: https://bit.ly/3LhVUAR Topics Discussed: How to create a story Why you should always invert How to invert to own a business Four key points of inversions Relating to Chipotle and Gamestop Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:25.0	Contentful, where content drives business momentum. Hey everybody this is still town
0:37.0	this is tell town this is Daniel town
0:38.7	welcome to the invested podcast we have been diving in for five years on the process of unfolding Warren Buffett and
0:47.7	Charlie Munger's investing strategies and we're just going to continue right on.
0:51.3	We've been doing a kind of a checklist thing.
0:54.3	Kind of. Well, it's a major, major checklist thing.
0:58.8	Uber checklist. It's got to be really brutal if you're driving if you're listening to this podcast commuting and we're going through this checklist
1:07.8	Which naturally you would want to write down right?
1:11.2	Well all the more reason to listen to it twice. Yeah, I guess. Maybe three times just to make
1:17.1	sure you don't miss anything. And then you want to put in your own stuff too. Well, anyway, get it written down type down printed out someplace and
1:26.6	build your own checklist so and by the way one of the great ways to start this is to
1:32.3	read all right this is a major project you guys, but it's super worth it.
1:37.6	What's the major project?
1:39.2	Read all of Warren Buffett's letters.
1:41.6	Oh, well, everybody doing that with me
1:44.0	for the invested practice has done that.
	...

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