Hey everybody this is Phil Towne

this is Phil Towne and welcome to the invested podcast where what happens about mindful podcast. Where? What happens?

About mindful investing that ever existed.

We're talking about mindful investing.

And Daniels continues to try to actually have me understand what mindful investing is.

While I'm trying to teach her, my daughter, how to invest like Charlie Munger, Warren Buffett, Guy Spear, Maneshbabrai, and me, which would be sort of, we would call it value

investing where you try to find something and buy it for less than it's worth.

That's what I guess what we do.

What are you calling it these days?

You're calling it deep value investing?

Yeah, we say deep value because we get real focused on a small number of companies that we

understand well. Charlie Munger, by the way read anything you can written by

Charlie Munger, he's phenomenal. Charlie is very comfortable

owning three companies. Bruce Berkowitz is very comfortable owning three

companies, you know, that you know are on sale and you like them and they're great companies they're not going to go bankrupt.

Warren Buffett, he has 70% of his portfolio in about five companies and then he has a whole book.

So far you're just saying people own very low numbers of companies.

Yeah, real focused, okay, that are on sale.

That we really understand the value and we're buying them cheaply.

And I think we've talked about this in a previous podcast, but on sale essentially means

we're buying these companies as really as if they were private companies that are available

to us to own all of, right?

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