InvestED: The Rule #1 Investing Podcast

On this bittersweet episode of InvestED, Phil and Danielle come together after taking some time to reflect on the impact of Charlie Munger, both in the financial world as well as in their own personal lives and investing journeys.

The loss of such a magnanimous figure will surely leave a void in the value investing community, but as Li Lu penned in his eulogy for Munger (link below), the man’s contributions to the collective understanding of investing practice will be felt utilized and pored over for generations to come.

Looking back on a life of great successes, philanthropy, and pithy wisdom that has inspired so many great investors to reach new heights, we have nothing to add.

For help following Charlie’s process of finding new companies to invest in, click here for Phil’s Value Investing Cheat Sheet: https://bit.ly/3QeCCje

Topics Discussed:

• Investing as enlightenment
• Munger’s aphorisms
• EBITDA
• Modern Portfolio Theory

Resources Discussed:

• Li Lu’s eulogy for Charlie Munger
• Autobiography of a Yogi
• Munger’s BBC interview

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As value investors, we aim to identify and monitor exceptional, well-managed companies that dominate their industries, effectively operating as unique monopolies.

A good starting point is using Google to gather basic insights—stock charts and financial summaries provide a broad overview. From there, explore their reports to assess transparency: are they forthcoming with information, or does it seem like they’re withholding details?

Finally, conduct a deep analysis to determine whether the company aligns with your values and investment philosophy.

In this follow-up to the previous episode's discussion, Phil and Danielle return to Terumo to talk through a recent application of their research process.

For help to find the right business to start your own deep dive, don’t miss your free copy of the “3 Circles” Exercise Guide: https://bit.ly/3LOexg2

Topics Discussed:

• Buffett selling stock
• Treasury bonds and P/E ratios
• Boeing woes
• Rule of 72
• Terumo
• OTC companies

Resources Discussed:

• All In podcast
• Rule #1 by Phil Town
• Invested by Danielle and Phil Town

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This week’s brief check-in comes as Americans in the US and around the world prepare for one of the country’s greatest traditions, Thanksgiving Day. Families everywhere are braving busy airports, clogged interstates, and crowded kitchens as they come together to give thanks, eat large amounts of food, and digest in front of the annual gridiron classics.

We here at InvestED want to wish all of our listeners a safe and happy Thanksgiving break, and Phil and Danielle will be back next week to discuss food comas and all sorts of topics related to the exciting world of value investing.

To catch up on all of the must-listen episodes from our back catalog and get better connected to the world of Rule #1 Investing, click here for the Best of InvestED: https://bit.ly/3MUOiFn

Topics Discussed:

• Thanksgiving traditions for expats
• Food traditions
• Solo holiday tips

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In this episode, Phil and Danielle answer another “Quick Questions with InvestED” left by a listener of the podcast. For show notes and more information visit www.investedpodcast.com.

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This week on InvestED we discuss how to find CEOs and management with integrity and talent. For show notes and more information visit investedpodcast.com

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