Hi everybody this is Phil Town this is Phil Town

this is Danielle Town we're here for the invested podcast where we're learning to figure

out we're figuring out how to learn. I don't know. I feel like I'm figuring out how to learn and you're figuring out how to describe value investing.

Well, I tell you what I've learned for sure in the last year and a half at least is that

when you're teaching something you learn maybe more than you learn when you're learning it. I don't know. You really

have to figure things out. Especially when my daughter here is an attorney who likes to

ask hard questions. Well they say if you want to know if you really know something, teach it.

Because then you'll see the, oh, oh, oh.

You'll see all the holes in what you thought you knew.

Yeah, exactly.

And of course, what we think we know is with my 30 years of

investing is pretty close to how to invest Warren Buffett's style.

This isn't to say that I'm anywhere near in the ballpark even of how great an investor Warren Buffett is, but we have certain advantages as small investors.

Number one being that Mr Buffett said a while back that if in this market

if all he had to work with was a million dollars he'd be making 50% a year and he

said and I guarantee it. So I figure it like this Daniel if Warren Buffett has an IQ of one

let's say 180 is like I have no idea what the IQ scale is.

Giant genius genius right and he's could make 50% with a million

dollars then if I have half his IQ I should be able to make 25% with a million dollars.

Sure.

I don't know what to say about that math.

I'm pretty sure somebody could disprove that one but let's go with it.

...