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InvestED: The Rule #1 Investing Podcast

87- Inspirational Takeaways from Guy Spier’s Office Space

InvestED: The Rule #1 Investing Podcast

Phil Town & Danielle Town

Business, Investing

4.61.6K Ratings

🗓️ 6 December 2016

⏱️ 47 minutes

🧾️ Download transcript

Summary

For show notes and more information visit www.investedpodcast.com Are we bound for a stock market crash? This week we're reflecting on some of the fantastic points that came up during our interview with investor, Guy Spier. We will expand on Guy’s style of being invested in the market all the time, and we will discuss why there is bound to be a market crash in the future. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Hey everybody this is Phil Town and this is Phil Town and this is Danielle Town and

0:08.7

welcome to Invested the podcast about Rule 1, Warren Buffett style investing.

0:15.0

Rule 1 being don't lose money.

0:18.0

That's kind of a key thing.

0:20.0

And Daniel...

0:21.0

Rule number 2, Dad.

0:22.0

Oh, Rule number 2 is, don't forget rule number one.

0:24.8

Which is don't lose money.

0:26.5

Which means we invest when we think that we have a high degree of certainty

0:31.9

that we're buying something a lot cheaper than what it's worth,

0:35.0

kind of like going to a garage sale and finding things you know are valuable and then buying them really super cheap that you can sell on eBay.

0:42.0

That's Rule 1 investing.

0:45.0

So we have...

0:47.0

Yeah, don't lose money. And Danielle and I have this ongoing discussion about whether

0:51.5

there's any other sort of thing you could call investing.

0:54.8

And that we take a very hard line here, I don't know that she agrees with it, that that's investing.

1:01.9

Everything else when you just put money into something

1:05.3

you pay what it's worth then what you're doing is speculating that something good's going to happen in the future. And since the future is highly unpredictable,

1:15.9

this idea that you're buying things below their value

1:18.5

is critical.

1:19.6

It's the three most important words of investing

1:21.5

according to Ben Graham, of safety and I just want to say

...

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