Hey everyone. Welcome to Invested the Rule 1 podcast. I'm Danielle town. As part of our back to basic series my dad and I had the great pleasure of having our first guest on our podcast and we started off with someone we were both absolutely thrilled to talk to, Guy Speer.

Guy is a value investor, a hedge fund manager, an author of a book called Education of a Value

Investor. We got to sit down with Guy and we had such a good time

that we ended up talking for longer than the time we had for just one podcast episode.

So we're splitting it up into three episodes. This is the second of

the three. I hope you enjoy.

I've started doing something I'm really excited about. So I've done two of them.

And it started off when a friend of mine from business school, he's actually from the family.

So his name is Brian Lawrence, companies called Yorktown Partners,

there were significant shareholders in cross tax.

And he sent me a white paper on renewables.

So it doesn't even have his name at the top.

It's just a sort of like a simple word memo.

But he gathered. that document some amazing insights

based on conversations that he's had now I had no value to add to his memo on renewables because I

know nothing about renewables. But he'd but he sent it to me as a way of

giving me an opportunity to get back to him to discuss what's in the document.

And the top of the document says, if, you know, please get back to me with your feedback so that I can incorporate your ideas into the document and send it out again.

So it encourages people to give feedback.

So I tried this out and I did it on credit card networks and I

promise you this is not the state of the art knowledge on credit card

networks but I thought I'm going to try this and it was amazing I put

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