Hey everybody this is Phil Towne this is Phil Towne this is Danielle Towne

we're here for the invested podcast where we're talking about Warren Buffett style rule one investing where we try to buy things

that we know are going to be worth more in 10 years and that is pretty much the

whole investing strategy that we've been unwinding for 18 months.

That's the whole shebang right there.

That is all there really is to it.

I mean phenomenal simplicity and it's not that easy to execute. It's so simple

that we're on part 8 of our Back to Basic Series Dad.

And in Part 8, we are still on Moat.

We're still on Moat. Because out of the four, so out of the four original, we're on number two still, which we're

going to finish up today. No, number two, is it number two?

You mean the second of the four?

The second of the four? Yeah, the second of the four? The second of the four.

What we call the four-ims, meaning management margin of safety.

Oh, look at you.

Mm-hmm.

Got a whole little, little mnemonic device right there. Random House made me do that.

They love that stuff for books. So they said come up with something that's you know all

the same letter or something like that.

Well Charlie Munger didn't do that and I won't make everyone listen to it again maybe next time

I'll play him but he in a BBC interview

listed four principles of investing that he and Warren Buffett follow the first

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