Hi everybody this is Phil Towne

this is Phil Towne and we're here for the invested podcast we're

real excited to be with you guys. On this podcast, as you probably

know by now, we are talking about how the best investors in the world make 20, 30 percent

per year compounded with, I know know with less risk than most people taking a

mutual fund. And they do it... What else are you going to sell me dad? And they do it. All right, now listen, they do it incredibly regularly over long

long periods of time. We're talking 30, 40 years compounded at high rates of return like that and the

key is are you ready the key is to buy investments those are businesses whether they're public or private, you buy

investments where you have a high degree of certainty that you're going to be selling it 10 years

out for more money than you paid for it.

Oh, so who knows what will happen in the interim 10 years, but on the magical 10-year

mark, you will be able to sell it for more money than you put in.

Yeah, you bring up an interesting point.

Do we really care about what happens between year one

and year 10?

And the answer is, yeah, naturally we do,

because we're watching our retirement.

But the right way to be in this game emotionally is whenever you buy something you think of the 10 10 rule

Yeah, I thought you might ask that. The...

What's the 10-10 rule, Dad?

The 10-10 rule.

Can you tell it to me?

...