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Here is your host, Dan Ferris.

Hello and welcome everyone to another episode of the Stansberry Investor Hour. I'm your host,

Dan Ferris. I'm also the editor of Extreme Value, a value investing service published by

Stansberry Research. We have a really great show lined up. I'm very excited about our

guests today. We've been trying to get him on for a long time, and I can't wait to talk to him.

But right now, let's get to the weekly rant. Now, last week's rant was all about my personal

model of the dominant emotion at work in the stock market. I said fear is the dominant emotion in the stock market

at all times. It doesn't go from greed to fear to greed to fear. It's just fear all the time.

Investors are only human and all humans are afraid of doing something too different from what

everyone else is doing. It's the fear of not buying at the top when everyone

else is buying and the fear of not selling at the bottom when everyone else is selling and the

fear of not owning what everyone else is owning in between, right? You may recall that I mentioned a

book called The Great Mental Models Volume Volume 1, General Thinking Concepts by

Shane Parrish and the folks at the Farnham Street website.

It's really good book.

And we're going to talk about one of those great mental models today.

It's one of the most important ones for investors.

It can keep you out of all kinds of trouble.

And also, it's just sort of naturally leads you into where you're most likely to succeed in the stock market and in life. The mental

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