Hi everybody this is Phil Town this is Danielle Town we're here for the

invested podcast where we talk about how to invest in a way that makes the rest of the world look like they have

absolutely no clue. That's my favorite slogan ever. In particular I'm going to

make the case, Daniel.

Tell me.

That investing is only those activities where you're putting money into something

where you're nearly certain you're going to make money and that the

return on investment is immediate.

That is you're getting cash flow or the company is taking the cash flow you would have gotten and growing themselves with it.

One of those two ways.

Okay, so it's not actually coming to my pocket immediately.

Not necessarily, but it could be.

It is growing my investment immediately.

So it either could be coming to your pocket

in the form of cash, or like, let's say the rent that you get from, like we're talking about last time is an awful piece of real estate comes into your pocket and cash.

And Charlie Munger, I said last time, says we like to buy companies where at the end of the year they write us a check.

So we should want the same thing.

Does that mean dividends?

It can mean dividends.

Yeah, it means when it comes to public companies it means dividends, yeah. For sure. When it comes to public companies it means dividends yeah for sure when it comes to

private companies and by the way everything we're teaching you guys should apply

absolutely exactly the same to a private company yeah I'm getting that

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