Well, hi everybody, this is Phil Town. This is Danielle Town. And we're here for the

podcast Invested. Invested. Invested. Where we talk about being invested in your life and your money.

Yeah, we sort of are taking on a lot of standard paradigms about the market.

You're going to hear that from everybody out there that you must take higher risk to get a higher reward.

You're going to hear that the market is efficient and that the price of stocks is what they're worth.

And you're going to hear that nobody can beat the market. And you're going to hear that nobody can beat the market and you're

going to hear that. But not here. You're not going to hear any of that here. We're in the

we're in the Warren Buffett Ben Graham Charlie Munger School of Investing that's commonly known and incorrectly known as value investing.

And it's incorrectly known as value investing because value investing has come to be thought of as buy a whole bunch of things with low PE ratios.

In other words, you're going to buy them at a cheap price.

But that may not reflect anything about the relationship between the price and the value.

And Charlie Munger came in a bunch of years ago and convinced Warren Buffett that the better way to go is to buy really good companies at a really fair price.

Isn't original value investing something like you do that but with a ton of companies?

Yes, Ben Graham would buy up to 200 companies and you can see that there's good value investors out there who will buy, you know, 50 companies,

80 companies, 100 companies, but Warren Buffett has 70% of his portfolio or 60% of his portfolio

in four or five companies.

And that's the sign of an investor that's what I would consider a super investor in the tradition

of Warren Buffett.

And there's not a really good name for it.

It's not really value investing.

It's maybe deep value investing,

that might be right.

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