17 Burst results for "Danielle town"

"danielle town" Discussed on Invested: The Rule #1 Podcast

Invested: The Rule #1 Podcast

08:07 min | 11 months ago

"danielle town" Discussed on Invested: The Rule #1 Podcast

"Everybody this is Phil Town and Danielle town. Welcome to the invested podcast where we're talking for a long time about how to invest, which seems to be something. That is very simple and not easy. I think it's just a plethora of things to learn and details and squiggly bits that may have seemed here to for unknown, and that's what's fun is we're getting into all those little nooks and crannies these days? I think it's the snowboarding of money I think is. Because it was really cool for a while, and now it's not. Really snowboarding, no longer cool. No, I think snowboarding's very cool, but what happened as you well know is that skiing stole all the ideas of snowboarding, and in created way, fatter skis and way shorter skis and. What are those called like dual ended skis so now everybody's doing tricks on skis and doing all the snowboarding stuff on skis and frankly learn a lot of people on doing snowboarding as much anymore. Wow, I didn't know that because it's been a little while, but if I have to go to something really steep. I'm on a snowboard. So why is investing the snowboarding? Wait? What was it snowboarding? The snowboarding of money the snowboarding of money. It's rive, and that is because snowboarding, unlike skiing and many other sports has a really steep learning curve, but it's fast if you apply yourself. And it's a tad painful to start with unless you use protection. Right but pad knee pad risk pads. Wrist braces. And you need a good instructor. We tried snowboarding on our own and it was really scary. Painful. And then had we not gotten instruction I'm quite sure we would have quit. which is I think what happens with investing all the time? Instruction is extremely important and here's the coolest thing about it is that I have seen people including my stepson Daniel. You're you're brother-in-law abroad her stepbrother. Who never snowboarded and didn't hardly ski and he got on a snowboard in five days was doing black diamond deep powder. Believe it. It was just full application totally fearless for five straight days. So. You're saying if you like fully apply yourself to learning buffet investing. You can be an expert in five days. You can expert very quickly. Take, the metaphor to to literally. But I would say thank you, too can fall down a black. He didn't fall down a black diamond. Oh. Remember things a little bit differently. He may fall down some of the bike, but he went down the black diamond. This is something not everyone can do, and it's probably reasonably good metaphor for actually range of speed which people you know, learn this. But I think another part of it is that there is a right way to snowboard. There's definitely people have figured out like back. When I started in. You started then they sort of taught kind of. You know get certain kind of bored. Turned out. Leg would never use a kind of today and. and. The instruction is was pretty close, but it wasn't. As good as it became and. Good instruction takes a lot of the pain out of learning speeds up the whole process and get to be kind of told when you're ready to go on to the next level. But in any case I. Think it's an apt metaphor of you can get good very quickly and snowboarding relative to skiing. Are A lot of people get really good. In one season turn and can vary certainly do parts of the mountain. They couldn't have done on a ski. That's what this is about this is this is kind of investing warning. Charlie have boil it down so nicely to you know basically four principles, and then there's a lot of books written. That expand on those and kind of expound on including three by us. But also just lots of youtube videos by people like bill, Ackman and Monash Bri. There's tons of books out there like guys, spear and Has Written some great great book, and so you can, you can expound on at eight. You can stretch it out. You can learn about it in more detail, and that's fantastic and you should, but the basics are really simple. They are really simple. Just like snowboarding. The basics are dead simple. It's the application of them. That really takes practice and and. I guess discipline would be part of it is just the discipline digest? Keep doing it the right way. Don't try to take shortcut. Because soon as the hill get steeper, the shortcuts are going to absolutely fail. Completely fall apart. Yeah, that's the same thing here. The shortcuts off. There's all kinds of little shortcuts you could probably try from other kinds of investing, but. You don't take them here. You you and and the the worst one to take is to stop being patient. You know you WANNA. Take a shortcut to get going. And so you. You start to buy Stephanie Cracked Danielle. You absolutely did this and just went okay. I'm just GONNA. Buy Something now. Didn't. The true did practice shares. Oh, but that wasn't investing. As we very clearly discussed. Here's me. I called it the wrong thing, but you launched into it to just have the experience of buying stock, which is true. It wasn't investing and now, but that would be the kind of shortcut that could, obviously if you didn't realize Oh my God, it's not shortcut. Take I take umbrage. It's not a shortcut. It's a vital component of educate sounds like a Portuguese where. Know what it is! I think I. Practice shares is an absolutely essential component to learning investing for anybody who is freaked out about buying stock, absolutely fair enough fair enough so anyway, not not dwell on this too long. We have been unfolding this for lots of podcast and we're GONNA unfolded more today with a little more depth on the checklist last time because you are not available. Yes, so last time I missed our recording, because I was hosting a group of investors talking about how to evaluate boards of directors which was. Fascinating, and like wonderful and. And if you subscribe to my newsletter, you guys got to read about that. So if you're not subscribed, go subscribe. You can read about it on the US the short version here like not really not really. Nothing useful. I'm trying to think what a short version would be so it's a tidbit so okay I'll try. So I came to this idea because I've been really focused on understanding, executive teams, and CEO's and I started thinking. Why am I focusing on these people so much when they're just the hired guns, and really the people who hire them are the representatives of the shareholders are the boards of directors, and shouldn't I be looking at who these people are doing the hiring and the firing and making big strategic decisions about companies, or at least that's what we would hope. They're doing so I want to see if I could figure this stuff out about people who really have ultimate control and. And Power and who are very little discussed in the media in corporate documents. We really don't know a lot about the people who make up most boards of directors, so just really fascinated by that question and I wanted to see if I could even find out stuff, and obviously.

snowboarding Danielle town Phil Town US youtube instructor Daniel Monash Bri Charlie Power Ackman executive Stephanie CEO
"danielle town" Discussed on Invested: The Rule #1 Podcast

Invested: The Rule #1 Podcast

05:57 min | 1 year ago

"danielle town" Discussed on Invested: The Rule #1 Podcast

"Is still town and Danielle town. Welcome to the invested podcast where we are following as best we can the rules of investing created by the greatest investors in the world. Essentially key guys like Warren. Buffett Charlie Monger Ben Graham. Mash. Guys Spear..

Buffett Charlie Monger Danielle town Ben Graham Warren
"danielle town" Discussed on Invested: The Rule #1 Podcast

Invested: The Rule #1 Podcast

11:34 min | 1 year ago

"danielle town" Discussed on Invested: The Rule #1 Podcast

"Danielle town. Welcome back to the PODCAST. Cast were on for keeping count. I think around two fifty two are we kept count to fifty and then after that. It's too many numbers. It's a lot of numbers we've been doing this awhile Doing once a week that would add up to about five years with the podcast. Can you believe we have five years worth of podcasts on here it's been five years. No wait we started in the worst years. Did we start in two thousand sixteen. No we started in two thousand fifteen and now it's twenty twenty so it's been about four full years right most years like half of 2015. That'd be a little over two hundred and we have two hundred and fifty two. I think we're very very very close to five years worth here at two sixty. Aren't we at five years. Here's at two sixty. Yeah we are so that is unbelievable with you about investing for five years and you've got in quite good at it so everyone out there take heart. I agree with that. Should be our slogan to stop. Stop Stop above the explanation at the beginning. Welcome to the Invest podcast. Take heart you too can get over your block doc with numbers and deal with craziness your step brother just sent me a really cool thing from business school. He sent over a a business school chart that shows the standard deviation between having a thousand stocks eight hundred seven hundred six hundred five hundred four hundred three hundred two hundred one hundred ninety eight seventy six hundred forty thirty twenty like that the standard deviation of returns if I understand this correctly and if you're an efficient market theorists I'm sure you're gonNA shoot us an email about what screwed up on this but it looks to me like like the standard deviation of returns is almost identical it's just slightly slightly slightly Lest enter deviation if you have thirty stocks or for more than if you have twenty or tin I'm lost and admittedly I'm not a statistician but a standard deviation is statistically significant separation of data from one area one part of data to another. So you're saying there's a whole standard deviation between stocks and ten stocks cause like if you have twenty stocks your standard deviation is around twenty and if you have like a thousand stocks it's like nineteen in other words you don't get any real benefit benefit in terms of The idea of diversifying diversifying. Your portfolio. You don't get any real benefit much past twenty stocks a twenty stock that's not a standard deviation but instead of deviation of returns okay. I think thinks that's a help your Turkey. Brenda this because of my work I have to. I think I think it's a different term but tell me tell me the point of what you're getting at that point. Is that you anything. In terms of of of less risk by shifting from twenty stocks to one thousand thirty or forty or fifty or sixty percent make an enormous MS difference of which stocks you own. Well that's of course what they don't tell you. How can you put that into a statistic? It doesn't make any. I mean people. People put things into statistics all the time so good question. I mean if you have a thousand stocks you're GONNA you're going to end up with the market return and it because because that's I mean shoot the S. and P.. Five hundred five hundred of them. So you'RE GONNA end up with the market return if you have twenty stocks efficient market theory would suggest you won't won't you won't have. You'll have a much wider deviation from a market return thousand so thousand stocks should give you just exactly clear market return with very little deviation right and it turns out a thousand stocks is GonNa give you only a slightly different amount of deviation from the market but then twenty stocks well in other words stocks. We'll do the market. There's just no way that's true listening. It's not true what your lawyer sister-in-law's or step sisters is not true. I don't know if he ran the numbers but Yeah it depends which which companies are. I haven't actually seen statistics before. This was a statistical chart and I will get one hundred away in here on. This isn't and find out more about this but I have heard this before that if you have a you know a reasonable reasonable twenty stock portfolio. It's not all in one industry or something right that you have all the diversification you can get from having a thousand stock portfolio royal. Don't you think if you had like really diversified those twenty different stocks and really had them in different geographical areas has an industries and different cycles. I could I could totally see somebody being able to do that with twenty. Yeah exactly proof because the index is do change stocks when something gets out of When when it's not doing well but the Dow Jones industrial average is only thirty stocks? And it is my view of what the market's doing Turner's quite nicely church very very well. It's it's acceptable to use. The Dow Jones Thirty Stock Gandak says a reasonable proxy proximate for a reasonable proxy for the market. So to say that you know if you have twenty I think you're roughly within ninety percent of the same the same result and if you have versus if you have ten stocks which is kind of where we are. We're more toward the ten stock than the twenty stock You have eighty percent of the same standard deviation. So you're going to be a little. You're you'RE GONNA be a little bit like twenty percent. More volatility assuming you have a diversified ten stocks and that might be very acceptable for most people to have a little more volatility than the stock market. If the end result were to get a twenty percent return instead of seven seven percent. Return what I'm saying. I mean that's it. That's crazy. Good news for investors that are thinking about taking this on this. Do this rule one investing stuff and try to learn you know the way Warren Buffet and Charlie monger teach it best as best we can. We can do that and end up with ten stocks and maybe twenty and a lifetime. I mean at the same point like it really depends what the stocks are of course what the stock had yet I don't know I struggle with these stats. That are like with twenty stocks. You'll come up with this. Well no you. Won't it depends on what they are and if ten stock with even more depending ah what do they do a random sampling of twenty stocks and then run the standard deviation on it and see what they came within just throw darts at twenty seven standard the deviation out of that I do not think that word means what you think of. Let's say you take the Beta out of it. I think that's really what it does this. Compare to the to the S. and P. Five hundred. Yeah yeah in terms of its vote. How much movement around it do you have? And what your rate of return relative to the index. So how you get there but I do know this. If if you're using your brain you should come out at least as good as a broad random sample at least as good and if at least as good as abroad. Random sample is getting you the same level of volatility roughly as the market itself than what's to worry about you. Then let's learn this stuff and go after that twenty percent return instead of being down here at five five percent. I think it'd be pretty smart. Well the part to worry about is that you're not diversified so those ten stocks that you choose may turn out to be the bottom ten instead of the top ten well. That's what I worry about. If let's say you did let's say you picked so okay. Let's say you're right. That's the point. We're getting an edge by by picking by choosing that's the concept here so the you know equally one must admit that the other side of that coin is the possibility that your picks are bad briskly saying that the edge has has two sides to it. It's two edged sword. It can cut both ways as you can get you higher lower returns and I'll bet chew that's what that standard deviations talking about. It's the range of returns. You'd get just randomly applying twenty stocks across the entire market over and over and over and over and over and over and yeah probably because that's how statisticians do that sort of stuff like that you're going to have the you can have a bigger range than you would on the five hundred. Yeah the the beauty picking your own stuff though we just to get back to what we've done almost five years of podcasts about this stuff is because the stock market doesn't just go up all the time right. I mean if you could say. Hey I'm just GONNA put my money in the stock market and it'll make aikman and nudity like return seven percent a year. Well okay that would be like having a bond but the problem is the stock market. Doesn't do that in fact it does. It's something radically different than that. It can go down fifty percent backup to where it was and keep doing that Yoyo without ever getting higher than it was and it can do that for as long as so far historically twenty-six years yeah totally switching George Soros saying saying hey yeah the stock market goes up in the long run but in the long run. We're all dead meeting. You can't count on the stock market coming back but it's funny super quickly Brinkley. And it's so funny how they how the market place plays with this at CNBC. And and at your mutual fund advisers all the whole thing is to maximize their desire to hold onto your money and maximize their ability to do so. By giving you really really bad statistical stuff and then the the latest one that I just think is just financial pornography. Is these guys basically saying look. Look how great the stock market did in two thousand nineteen. Isn't this amazing. What a rocket ship stock market we've had is just like freaking unbelievable how the stock market is exploding in two thousand.

Stock Gandak Danielle town George Soros Brenda Warren Buffet CNBC Turner Brinkley aikman Charlie monger
"danielle town" Discussed on Invested: The Rule #1 Podcast

Invested: The Rule #1 Podcast

13:13 min | 1 year ago

"danielle town" Discussed on Invested: The Rule #1 Podcast

"Is Phil Down and Danielle town. Welcome to the invested podcast cast. I know you guys know what this is about. Please tell us again. Dad For the two hundred and fiftieth breath time. The Two Hundred Fiftieth Time Fiftieth episode which is so wild we're investors and we are are among I think in my humble opinion. We're we're doing good. We're good investors investors because we're following the best industries in the world Warren Buffett Charlie monger. Good you're smart enough and dog on people like you Stuart Smiley has made an appearance. Finally on our podcast so happy and yeah and.

Warren Buffett Charlie monger Phil Down Stuart Smiley Danielle town
"danielle town" Discussed on Invested: The Rule #1 Podcast

Invested: The Rule #1 Podcast

09:05 min | 2 years ago

"danielle town" Discussed on Invested: The Rule #1 Podcast

"The. Hi, everybody. Welcome to invested. I'm Danielle town. We had so much fun. Chatting with Jacob Taylor for invested book club last week. If you missed that episode, go back and listen to it. And if you missed buying his book in time Cohen by it, it's called the rubble allocate. Our I cannot tell you how many messages I've gotten from you guys who bought the book who listened to the episode saying how helpful this was to your investing practice. I'm so glad because we love recommending good stuff for our invested. But club we've only ever had to books on it. And this one the rebel allocate. Our is a real classic. So go and pick it up. If you have an already read it this week, we wrapped up our finding buffet or finding buffet treasure hunt. And we did our ask us anything. Call for everybody who bought the misprinted book and entered our giveaway. They also got three months free to my investing practice newsletter and they get special seating at my dad's weekend. Investing workshops, so this is obviously a special giveaway for everybody who went ahead and bought those books and entered but we had two questions that were so good. And we enjoyed chatting about so much that we decided to play them here on our podcast. And then we're going to talk about the more next week. So enjoy listen, and we'll be back next week with additional detail and great amounts of thoughts around these particular questions. Enjoy of. Then is actually hedged manager. And is a student firm, gosh, Mr. four or five years ago is a debt has a daughter says in your podcast. It's become clear to me that you try to teach yell when she was younger get involved investing. I have myself just turned thirteen tried over the past couple years year cage with investment headed a luck. She loves to read and asked her to read your book along with some other investing books, and she wants nothing to folks that have to do with learning. Learning that's a broad category of books to avoid. Or really is escape. Really is. And I certainly don't wanna take that away because she lives with me. And she needs to escape just added that last partner that. Your father done anything differently. When you were younger to get you to take on investing some form or another. This question has come on over thirty guys. So there you go Honey have I'd be very curious this enters. It's such a good first question, and you're right. We got tons of questions with that exact deem. So yes, I think there are with hindsight. There are many things that could have been done differently too. In investing. Totally really to Ben's daughter because reading per be was a huge escape, and I would read for hours and hours and hours stuff that everybody else thought was really weird just to like be entertained. So I totally understand where she's coming from. I did write that book invested specifically to write a book that was really fun about investing and interesting and like and like not boring about investing. So maybe at some point she would be interested. But I was just speaking on Friday as you guys know because you're all the people who bought the finding it finding book. We've set up a donation to girls Inc. Which is a charity around the US and has a chapter in Omaha. And so we've set up with the Omaha chapter in the New York City chapter, and I'm working on other chapters to donate these books and to support the book we've been talking about programming to help teach teenage girls about finance investing and really make it accessible them. So I was just really working on this on Friday. And I think for me thinking a lot about like, what would what would have changed for me? And I think for me just happiness. Be connected. My real life would have been really amazing. I mean to me until I was thirty five and started this. I did not connect to the stock market as being acceptable to me or or in any way related to my life. That was the just seemed completely like this grey fog that I had no clue about and that was filled with scary people and scary decisions and scary moves, and I would never understand it at a nothing to do with me except to create recessions that made it so it was hard for me to get a job. And that's not something you to gauge with. So what I would do differently is if if if somebody had like connected, the idea of public companies of big companies companies that you could actually invest in to my real life a lot the way you do now with with all all of your students like saying like, what are you interested in? Okay, you're interested in you have an apple iphone will. That's accompany. Somebody makes that I phone like, let's go find out about these people who make the iphone who make other apple products out what they're doing. Okay. What's your opinion about the iphone? Has gotten better overtime or gotten worse? Overtime. Oh, you think it's gotten worse over time. Okay. You have an opinion about a huge public company that seemed really far away. But now as actually sitting in your hand at something you use every day now, we can go when I was a kid. We didn't have such excess -able accessibility to the internet. So it's a huge. Also, you can go online and start to learn about the company apple and see what other people think about apple about the iphones future and simple as that. Suddenly we've connected something that you use every day that every kid wants to use to this market this big amorphous. And I think that if we had talked more about that stuff. And and really I think if we ever talked about numbers and have been more about people in products and services, and like who are these people making things what are they doing? And you can actually become an owner of that company really easily. I think that would have sparked it a lot more for me. I think this really good because I've ever trying to teach you overs all time all the time. Yeah. I mean numbers kind of a live for that. They were not in your in your will house. And I love this idea. I wanted to ask him I self if I had helped him we been cuss starting your own business. All did. But I mean, I started thirteen thirty day beauty shop in my bedroom. My sister was the only client. Yeah. She paid us top dollar for beauty service. Tastic huge moat. And I had the maids stands, and then and then everything kind of disintegrated in our lives and the stopped. You know, true. Will get Orson. That's when it kind of strange to a hall. Yeah. Became the Disneyland that and I think as you put it. Which is now we're near my attention. And what I should have done is. Maybe I should have helped you figured out real Ashra business business. Maybe. Yeah. I don't know. I don't know. I don't know starting a business necessarily relates exactly to like realizing that you could begin investor. I think those are they're related, but they're different and business is very hard. This is let's say instead what I maybe could have done like one mom. She taught her daughter how to make money at garage sales. Right like finding things are singer ceviche in-house about and flipping them selling them in the newspaper. I don't know. Fix something. You would probably enjoy when you.

apple Omaha Danielle town Jacob Taylor Cohen US girls Inc partner Disneyland Ben Ashra Orson New York City thirteen thirty day three months five years
"danielle town" Discussed on Invested: The Rule #1 Podcast

Invested: The Rule #1 Podcast

13:12 min | 2 years ago

"danielle town" Discussed on Invested: The Rule #1 Podcast

"The. Everybody Billtown Danielle town. Welcome to invested the podcast where we're learning to invest like the best investors in the world. To do the exact thing that all of the financial services industry says you can't do which means your financial advisers gonna tell you you can't do this that if it was this easy to invest. Well, everybody would be doing it. And every other excuse that everybody gives you to keep you right where you are in your life unintentionally with the best intentions, actually. And every that I completely believed until like three years ago. Exactly you have convinced me I admit it. But it's true is fascinating. We have more and more financial advisers are coming to the the workshop that we do if if only to learn about what their what their clients are telling them like their clients are now starting to go to them who've been listening to this podcast and working on the materials, and who have maybe gone to the workshop or they've taken your newsletter. Something you know, started to really build up there. They're under standing of investing and coming to the conclusion that they could actually get a lot of benefit from this. A lot of clients have got back to their financial advisers and said, hey, what's the value of these stocks that I own Comey one? There were interesting, really. Yeah. And the financial advisors are a little bit out to sea because if you've gone to work for J P Morgan or if you've gone to work for Morgan Stanley and your financial adviser, you know, that you're training was about. Selling not about figuring out the value of things for that. You rely on their analysts desk to tell you what to tell your clients to buy. Yeah. And you don't know when you're climbing. Titties to them like financial advisers, that's not really their job to announce the value of things that people have that they've steered clients into various products of. Well, yeah, I guess it's I mean certainly isn't their job the way their job is defined braid. Come on doesn't the client kind of thing that when the sales guys recommending that you buy this thing that they sort of know that it's a good deal for you. Yeah. And yet when you think so yeah, I do and yet also it's not their job. And there's that that disconnect between the expectations of an ignorant client and the expectations of a semi informed. Financial adviser who understands the parameters of their job like it's just not set up to actually meet those kinds of questions. Like, what is the value of the stuff? You've put me into is there. Yeah. It's completely fascinating. That there's this disconnect between the expectations of a client. In other words, if you were to go to a real estate agent and say, should I buy this house? I can tell you that the real estate agents are have a pretty good idea of what things are selling for. But they may not have much of an idea of what things are worth. So that same problem can exist out there is so we're not picking on financial advisers, don't send us any nasty letters. It's all right. We know that there's a really important value to financial advisers. These people earn their money, but exactly. I have friends who have done that job financial advisor for very big banks. And I mean, they had some training on sort of how you research companies and funds. And so that they can talk about it adequately. You know? But the the job really is sales, and nobody is confused about that on the banking side. But I think potential clients can be unsure about that role. Well, yeah, I mean if. And fortunately, most financial advisers. I mean, virtually all of them that are in the United States are required to be a fiduciary for the client and are not paid commissions. And so they are doing their best because they're gonna they're gonna make more money. If you make more money because they're taking a percentage of your assets under management, and and they do I think financial advisors have very very good job in in the complex world of wealth management. That's very complex trusts. We're talking insurance. We're talking nuit ease. We're talking. Absolutely, calm complex investments are. Really have to be re you just really have to know your stuff. But that doesn't mean that part of what you know is necessarily that the value of the stocks, you're buying and in fairness almost everything else that they're going to advise you to get involved in. If you have a lot of money, they don't have to know the value of it because it's itself evident in other words, the the bonds that you buy produce a certain return for a certain amount of time, and they have a certain level of risk and the annuities have certain level of risk in a certain level of return, and they're very stable. And so, you know, all of those kinds of things are relatively straightforward for an advisor. But what is not straightforward is the stock market. And so at visors have are clinging to the notion almost with a bit of desperation that stock prices are the same as stock values because that totally gets them off the hook. If. Somebody says what's the value of this? You know, Boeing stock that I own the adviser can point to the stock price and say it's that. Well, they can say like that's a concept that doesn't really have a lot of applica- -bility to our current situation. And the stock prices that you know, like, I'm not like it's not necessarily that they believe that the value is the price, but they can just say like that's a bit more complicated than we're going to get into and the price is right here. And that's what I can tell you. And they'll also said something very intelligent and correct. If they've got the right companies, and that is look we're in it for the long haul. All right, Danielle and these are great companies Boeing's, a great company and in spin around forever, and it's going to be around forever. And if if the price is a little off right now. That's all right. The long run it won't matter that much. And that's actually reasonable right for person that's gonna have broad diversification. What you'd like to do is broad diversification? Means you have, you know, dozens if not hundreds of stocks in your portfolio or your brother diversified across indexes, which takes the adviser off the completely, and they don't have you can't even ask the question to that adviser because it's a nonsense question. You might ask well is a stock market drop. And should I be in here for another forty percent drop or should I get out of the way of this? Because, you know, I'm sixty six and I need to make sure that I don't have ten years of zero return because that's gonna really hurt me. Right. Right. That that's the question. And and I think that what we talked about last time was that we were going to deal with some of the things that point to that question answering that question really hard for an advisor to answer. I think most of them are going to just say look. We can't know in the move in and out of the market. Nobody knows when to move in and out of the market not filter down Danielle town, not Warren Buffett. No one knows that. And they're absolutely right. So there we're not we're not knocking financial advisers per se what we're saying is that if it's the case as Warren Buffett has believed and taught for fifty years, if it's the case that the stock market can vastly miss price assets can can give you stocks at a way too high a price to pay and can present you stocks at way on sale prices that you could steal. Then does it make sense to just a -ssume that everything's fine? All the time. And and I think that for some everything's fine. All time. What is that? Well, okay. It'd means. All right. It means that if all stocks are priced at their values than everything is properly done. Everything's done. There's nothing you can do about it. It's a fifty fifty bet. Whether those stocks go up or down all the time. So everything's okay. All the time. You're in a situation where it's it's a coin flip and any moment in the stock market. Whether that's going to go down or up. Okay. Okay. And what what? And what and the person that's that's appropriate for our the fact that people that financial advisers are after to help and those are people with wealth. Those are people who are not concerned about whether they're going to have any retirement. They're not concerned about working at WalMart at seventy five years old what they're concerned about is sustaining a lifetime of comfortable, living and generational wealth. Right. Which is I mean, that's if you're in that ballpark. Honestly, God bless you. And you don't you can you can change podcasts. I told you time. No, they cannot change podcasts who they have to understand what's going on. But I'm afraid that people afraid they'll understand just enough to be dangerous upset and have nowhere to go with it. Right. Because they're not going to do the work that it takes to become competent at this. Oh my God. What a generalization? Okay, horrible. Why? Why? Okay. Bye generalization is that people have a lot of money in general, which would a generalization in general are not willing to do the work that it takes to take over responsibility for your your assets. Wow. Maybe we know different people who are wealthy. But the people who are wealthy I know tend to take it extremely seriously that they are the stewards of their family capital, and to be the one who would break the chain and lose the money because of. Not understanding what's going on. And what they're doing is just like the worst thing they could imagine. So what thing that's different person? Honestly, I well, not a different person. It's different. It's a different approach to understanding. What's going on? In other words, if understanding what's going on means as everyone agrees, Warren Buffett, you may we all agree in the long run. The stock market's going to go up and in the long run. You know, just putting your money in a in an index is going to be perfectly acceptable to a wealthy. Client. Then if they understand that they'll leave it alone. I'm so confused. I mean, are you saying that you've kept friends out there who are wealthy who are thinking about pulling their money out of the stock market. Of course, they're thinking about all of it all the time. They're managing their money actively they have multiple advisors. They are debating who's right about which advice. They're choosing funds. Actively managing their own money. Yes. Well, so they actually may have advisers who are saying, yeah, let's let's yank your money out of the market now. Probably hold hot of doubt out of people are saying that. So I would not be surprised, man. I'd be so surprised. All right. You visors who are busy telling your clients. Okay. We in fact, do no into get out of the stock market, and we're going to get out. Now, you gotta shoot Danielle an Email and let her know you doing that. Yeah. I make you bet right now. Okay. Value fund managers have all been saying that for three years the fund managers are different. I'm talking about financial advisers who are actually going to go against the the the paradigm, which is clients have the money. There's no reason to exit the market they they should stay in for the long. So we're. So we're. What about our impressions of how wealthy people handle their various fortunes, which okay fine. They handle it in different ways. Let's agree on that. We agree on. I don't know what the point the point. Is you shouldn't end of this podcast. I think that was the point. And then the second Terry.

Warren Buffett advisor Danielle Boeing Morgan Stanley United States J P Morgan applica- -bility Terry WalMart fiduciary three years seventy five years forty percent fifty years
"danielle town" Discussed on Invested: The Rule #1 Podcast

Invested: The Rule #1 Podcast

06:03 min | 2 years ago

"danielle town" Discussed on Invested: The Rule #1 Podcast

"The. Hi, everybody in this town and Danielle town welcome to the podcast where we're talking about. How to be a real investor not a speculator in the markets, which is by definition. What almost all of you are doing in my humble opinion here invested in mutual funds and indexes, and basically you're speculating that somebody else knows more than somebody else. I guess and helping the market will go up and just hoping the market will go up, and that's just by definition speculation. What we want to do as an investor is. We wanna buy things when we know their value, and we're buying them on sale that's actually investing. So you're probably better at investing going to garage sale than you are with you for a one K. I would I would I would strongly suggest you mean just sort of like naturally if you're somebody who's never looked into investing or. Yeah. Listen to your doing what everybody tells you to do. If you're doing what everybody tells you to do, you're you're putting your money and indexes in 4._0._1._K in your 4._0._1._K. And and I promise you you go down to garage sale. And you see something that, you know, about, and you know, what it's worth, and you know, it's super cheap and you buy that that is investing. You could turn around and sell it on EBay for more money than you did then you just paid for it. And there are people actually do that. That's because you have a strong. I wanna say strong certainty. I think it's actually impossible to quantify to what do you call that? When you adjust something that's a certainty have no idea autumn. I trying to say qualify, you can't qualify certainty, but a strong opinion that something is going to be worth more than what it is you paid for it. I like I like certainty. I mean buffet uses certainty does he? Yeah. He's definitely used certain anybody investing. I mean, I understand investing. Yes. We've talked a lot about that. But I don't think anybody can say that there's a certainty because you can't predict what's going to happen with other people. You are correct. But that doesn't mean that the market price is going to go to what is correct. Okay. Look it though. Is the sun gonna come up tomorrow? How certain are you that? It will. I'm certain. Yeah. Very certain. But as it half to no, no, we could get hit by an asteroid would be no Sunday Marl current. So there's no such thing as infinite certainty, you know, the the certainty of God or something there. We don't have that capability. Right. We don't even if the sun comes up for everybody tomorrow. It might not come up for me. Right. The sun would come up for everybody. But not for you. I would be dead you'd be dead. Hello. So. You just wouldn't see it. Right. So what we're shooting for is human level of certainty, and when it comes to businesses your hundred percent, right? There's no perfect certainty of things can happen. But I'm not sure darn certain. I mean up. Yeah. But I pretty certain Southwest Airlines will be around ten years. I'm pretty certain delta will be around in ten years. And I have a high degree of certainty about that. Walmart say very very high degree certain Amazon will be around in ten years. I mean, there's not perfect certainty. But there's some things that are a lot more certain than others. That's for sure let's go with a very high probability. Okay. Very high probability high level of comfort to the point that. And this is the key thing to the point that you'd be willing to put almost all of your retirement money into that company. Yeah. Yeah. To that level that is a very high level of Suryati. That's when you gotta do. I mean, it's where you gotta be. Yeah. That and then yeah, we're going to diversify. We'll we'll diversify off that a little bit. But not not stupidly stupid diversification. That's what everybody teaches you to do. Stupid diversification is over diversification. And they they're telling you to do it for all the right reasons because they're afraid you're gonna lose your money. If you go out and do what I'm telling you today. Right. I mean, the world is full of of people academe IX, and professional investors who truly believe that you can't beat the market that it's a rare rare investor who can beat the market, which is the the hypothesis of modern portfolio theory. That says literally you can't beat the market that the only people who do are lucky, but there's now a greater and greater number of people who are investing in a certain kind of way, which has predictably beaten the market now for eight years through world wars and depressions, and everything and these investors are all doing it. And exactly the same. Not exactly. But in almost. Same kind of way, which is by and large to follow at Warren Buffett. Charlie Munger have practiced for sixty years, and that is incredibly careful patient investing sitting on the sidelines for absurdly long. Periods of time relative to what professional investors are capable of doing. And then pulling the trigger really aggressively. When you get the opportunity to buy something wonderful that's on sale that is so hard for other professionals to practice. I can almost assure you that with a few exceptions out there. No one does because pension fund money is what most of these professionals are are are investing for funds like, you know, Cal CalPERS. And by the way, Cal I just read the CalPERS the largest investment in in the country three hundred eighty six billion dollars under-

CalPERS Danielle town Charlie Munger Warren Buffett EBay Southwest Airlines Walmart Suryati Amazon ten years three hundred eighty six billi hundred percent eight years sixty years one K
"danielle town" Discussed on Being Boss: Mindset, Habits, Tactics, and Lifestyle for Creative Entrepreneurs

Being Boss: Mindset, Habits, Tactics, and Lifestyle for Creative Entrepreneurs

04:17 min | 2 years ago

"danielle town" Discussed on Being Boss: Mindset, Habits, Tactics, and Lifestyle for Creative Entrepreneurs

"Your rainy day and putting money for retirement now you can. I mean, that's a really privileged place to be in. Right. So looking at other ways to take risks with your money, calculated risks, but also to help people if that's something that is also important to you. Gosh, there's so much art. I bought a few pieces of art in the last couple of years. I don't buy them because I think they're gonna appreciate, but it will be like icing on the cake. And frankly, I would like for this to go down in the family, but some people really look at art as an alternative investment gold, you know, there's all sorts of things. It's really more about like you have to answer these questions. What is my risk tolerance? What am I interested in? So they can keep up with it for some people. It's purely stocks like open up or full EEO and just pick stocks and not. I'm not of the camp where you know, pick stocks and trade them every day and watch them every day. But if you believe in companies and you think that they will last the test of time and you wanna have them in your portfolio for retirement, go for, I just had a woman on my podcast, Danielle town, who were the book invested if anyone's looking for a book on investing and she is the daughter of Phil town who is wrote the book rule number one, and he's very famous invest investment educator like he has investor some in our, he's he's very well known in that world. She's like, I never really cared for until I got to my thirties and civil. What are you investing in? She was, I'm investing in one stock right now. I said, really, I thought you're like the investor expert. She's like, well, I know like what's going on. She said, well, I'm, I'm building my portfolio and you kinda wrote this book more about like how to. But my picks she's got one pick, and that's AAA. I would've never bought because I was like, well, now it's like four hundred dollars. I mean, but she bought it after the e-coli crisis, would it tanked now they have a new CEO and they're on the right trajectory. And she's like, I just really believe in the company and people love the food. And I was like, okay, I don't have like the stomach for stocks. I think Ryan interested. I'm Mike fascinated by how companies grow in the business of stocks, but to put down money for a stock. I think I don't really think the ROI's is for me now. I want to start close out the conversation with the conversation about financial freedom because I feel like that's what a lot of creative entrepreneurs really crave whenever it comes to living and working on their own terms and insists freedom and flexibility when it comes their schedules, but also winner, it comes to their money, and I've found that people are using the word financial freedom in a lot of different ways. For me, it means having enough money and investments I can live off of the interest. I've calculated the amount I know exactly how much money I need. It's three point, two, five million dollars to live like the lifestyle that I want a could be a lot less if I was like in a tiny house or something, but. What does financial freedom? I mean for some people just means making enough money in their own business to pay their bills like it could mean a lot of different things. What does it mean for you? Financial freedom for me means never having to worry about money, plain and simple. It doesn't mean I don't think about it. I doesn't mean that I don't plan my life around my money, but it's it's also about like not having to worry about, I think to think about, can I afford this thing that I really want, you know, and and if I don't have the money, knowing that I have the financial ability and capability to go out there and make the money. So I don't really see it as this finite thing. I don't think you just like hit freedom, and then you can just stop. You know, for me, it's like it's an ongoing thing that I'm always trying to kind of enhanced my financial freedom. So I'm financially free today, but I don't wanna sustain this just I don't wanna keep status quo until I die..

Danielle town CEO Ryan Phil five million dollars four hundred dollars
"danielle town" Discussed on Invested: The Rule #1 Podcast

Invested: The Rule #1 Podcast

02:28 min | 3 years ago

"danielle town" Discussed on Invested: The Rule #1 Podcast

"Everybody. This is still town and Danielle town. They were here for the invested podcast, and I'm so glad to be back. Missed you or doing this with you to just been off for a little while. And I'm excited to get cranking on this again because we just had a really good workshop for three days in Birmingham, Alabama. First time we ever went to Birmingham, Alabama that your role on workshops that you do that weekend like three day weekend works out. As soon as I say, Alabama, I kinda wanna do that thing from Forrest Gump. You know, Accu remember what he was saying about Alabama, USA, someplace in Alabama, would he would he gets fight with that with that, that hippie. He's. I'll be Greb, oh, Alabama or something like that. Anyways, really keep Tom Hanks. The movie was on TV the other day, and I hadn't seen it in years and I just watched like ten minutes of it and all I thought was cut. This really holds up. It's really good movie holds up. Well, it does feel like a little Forrest Gump in may tell you. I think you do actually you've had not just nine lives you've had about thirty different lives. Totally relate to that whole scene where he's, he's back. He's in the military and he's back from Vietnam. He's part of that peace demonstration and he's part of this Black Panther party. And you know the whole, the whole Sikh. Haven't seen it and show on that brought it all back to me in a big way. 'cause I was for for a period of time. I was was involved in both sides of this thing, and it was just man crazy time back in the sixties and early seventies, that's for sure. I think when you get like ultra old and you're confined to a chair and you just have people like bring you what you want. I think that your brain will still work totally well, and you should write your memoirs. I think they'd be really boring unless I could figure out a way to ride them really an interesting way because memoirs are generally pretty boring reads. You don't think Morris, like crazy. We're talking about, I, I guess I love I love autobiographies. Is that a memoir? Yeah..

Forrest Gump Alabama Birmingham Danielle town Tom Hanks Accu Greb Morris USA Vietnam ten minutes three days three day
"danielle town" Discussed on Millennial Money

Millennial Money

07:50 min | 3 years ago

"danielle town" Discussed on Millennial Money

"Problem with keeping a count separate. In fact, from what I've seen, it's definitely the majority of people who do this and a lot of people do this because they think, well, this is the way we won't fight about money, but I caution you to have that kind of thinking in your head because there will be something that comes up that you will really seriously have to explore together even with separate accounts to figure your way through. So it sounds like you have talked about money together. You have a really open relationship, and that is an amazing start because a lot of couples. Want separate accounts because they don't wanna have to deal with the crap than want to have to deal with talking about this stuff in all of the potential landmines that come along with it. So it sounds like you're in a great position with that. I would just say, look, weather, you join accounts or you don't join accounts that you have discussions about these tough things. What happens if someone gets laid off, what happens? If somebody is sick and can't work were injured? What do these scenarios look like? What are the snarls look like? When we want to have a big purchase, how are we going to work our way through that? And I think that if you can come to a place where you both are accepting of that. That's fantastic. And who's to say that down the line, you might not join accounts, maybe you might? I don't know necessarily what that looks like. I don't even know what state you live in. Some states are what are called community property state. So you start putting money together. And it's fantastic. But if you got divorced or anything kind of tough like that happened, separating the money out gets a little bit more complicated. It's it's kind of fifty fifty in the lines, get real blurred. And you know, I'm not in a state Turney or CPA, so I'm not going to go down that road, but just something for you to know. I don't know what what state you live in and I don't know what the state laws are in your particular state. So I think as long as you go into it with the understanding of, okay, we're separate right now. We're okay with it. Be stabber it, but we're also okay with really rolling up our sleeves and talking about the tough money subjects, especially when they come up and we're trying to think about things like, you know, after you get married, maybe you should start thinking about life insurance. You should start thinking about getting a will in place these sorts of things where it's going to be hard to ignore the fact that you're still going to have to make money decisions. Together. So as long as you can get to a place where you can talk about tough things in a really open place and where you can go to experts when you don't know when you can go to a CPA when you can go to Terni when you can go to funny planner and help them have them help you figure your way through it as long as you're willing to do that, there's nothing necessarily wrong with having separate accounts. Personally, my personal opinion. This is just again me asterik Mark speaking, personally, I feel like it's a lot easier to have them combined. Maybe you have your own separate spending account, but there's just not any of those conversations around you make more. I make less my money, your money who's going to pay for what? There's just not conversations about that. So when we got married, it's together, it's hours. It's a real mutual connection decision, and I believe in my heart of hearts that money is one of. Those things where you have to have a good partnership in place regardless of together Bank accounts together Bank accounts separate. So I hope that's maybe giving you a little bit of guidance. Again, there isn't one way there isn't one right way, especially right when you first get married, but I think you know having some of those tough discussions particularly after you married just so that you have some sort of comfort in knowing, okay. If something happened, what is going to be our strategy from there and what are we going to do for those big purchases? I really feel like those are extremely necessary conversations to have and will definitely help you continue to not fight about money. So for what it's worth MandA. Hope that's given you just a little bit of guidance. I honestly, I'm going to say I am so excited for today's podcast episode. I get sent a lot of books to review and. Honestly, most of them I'll read a few chapters kind of skim through at the idea of what's going on enough. So to have a really educated discussion on the podcast, but I got this book called invested by Danielle town, and, okay know it's going to be dry boring investing book. And I started reading it and honestly, put the book down. I was like, oh my gosh, like this is the best investing book I've ever read because it was written for me. I feel like I feel like it's written for you too, and it really walked through this twelve month process that Daniel went through to find her financial freedom through getting really educated with stock investing and each chapters broken down to each different month. And so it's really tangible tips that you can follow and you can break them down into these bite size bits so that it can come alive for you doesn't feel overwhelming, but you know, it was. Really excited to interview. Danielle. She lives in Cirque Switzerland now. So we had to work out a little bit of the time schedule there, and I thought, oh my gosh, like totally fingers crossed. I hope she's really is cool as her book as she wrote in her book. And sometimes you know. People don't necessarily live up to our expectations. And so the second that we hopped on the call to interview for the podcast, I was like, she is just as mazing and fantastic as I had hoped she would be and more than that, she dishes so many pearls of wisdom. I just feel like this is probably one of the best podcast episodes that we've done and definitely one that you're to want to bookmark and have on repeat and comback and listen to over and over again. She's got her own podcast. She's got the book and I just again, it is truly from an honest place in my heart that I'm saying this book. It's like a, it's really like a roadmap, like a guidebook for investing through somebody else's journey, and I just think it's so incredibly relatable. So before we had into the awesome interview with Danielle, a quick word for podcast episode sponsors, big, thanks to our podcast episode sponsor, Brooklyn. You know a couple of months ago I went on this quest to upgrade our nightly routine, so I could just feel a lot more well rested every day. I was feeling totally worn out, and I'm so happy I did. I miss leaping on Brooklyn and she's now for well over a month, and they're awesome. Breathable soft at the touch, a total luxury experience without the big markup. What I love is that Brooklyn was founded in twenty fourteen by millennial couple, and they wanted to create the most beautiful and comfy homosexuals without the crazy prices. Brooklyn is also the fastest growing betting brand in the world with over twenty thousand five star reviews of happy sleepers. Just like me. And they were even named the winner of the best of online betting category by good housekeeping. They have so many colors and patterns you can choose from and you can mix and match that exactly what we did, but you have to do yourself a favor and try these sheets because honestly, my

Danielle town Brooklyn Terni Turney Mark Cirque Switzerland Daniel twelve month
"danielle town" Discussed on Millennial Money

Millennial Money

06:11 min | 3 years ago

"danielle town" Discussed on Millennial Money

"You may be thinking, I would love to start investing, but a really have no idea where to start. I don't even know how to figure out what companies good what company isn't. I'm Sean accounting game. This is millennial money in today. We're talking a twelve month plan to financial freedom. Getting invested with author, Danielle town plus an ask Shawna question all about couples and money. Millennium money with Shauna. It will expand your brain. I wanna give ache thanks to college backer for supporting millennial money podcast in college backer it's the easiest way to save for college with family and friends. And if you're totally overwhelmed by the idea of saving for college, they've got you covered. You can get started in just a few minutes without spending hours and hours doing research college backer. They're going to help you find a great five twenty nine plan that grows tax free over time. And then they'll give you a custom link for you to share with your friends and family for your next birthday or holiday. Just imagine turning all those extra toys and clothes into college savings, sign up at college, backer dot com. Slash my money and get ten dollar match. When you start a college fund for your child or send a gift to kick someone else's college front off, that's college, backer dot com. Slash my money to start saving for college today. So I know I answer a lot of questions about couples and money, but I think that just shows that it's Huey a tough subject. I mean, I think even when I feel like, oh, we have this down. We're not arguing about money. There's no issues. We know the plan. We know where we're going than something comes up and it's like. Wait a minute. Now we're gonna go ten steps backwards and this isn't that way for every couple. But I've worked with a lot of couples. I've talked with a lot of couples and I can tell you that more couples than not have some sort of big question issue, complexity, frustration argument, even just those things that you hold onto, like he bought what or she spent money on what those things tend to bubble and linger and develop underneath the surface. And then something seemingly innocent innocent. Bill that you're trying to figure out how to pay or I don't know. Maybe you're trying to do something more complex by a house, those little things underneath the surface, they tend to bubble up and bubble abusively pretty fast, and it's just not good from there. So I love to answer lots of different questions about couples and money and share my own experience. And of course share stories from other people. Non Asli of course. Of how they deal with these things because I think it's a really real subject that a lot of aren't prepared for and we don't talk about a lot. So I was really happy. I got this question from Amanda, and I thought it was such a good one, especially with wedding season coming up. It's probably always wedding season, but I think that something about rolling around this time of year gets a lot of people thinking about money and marriage, and you know, how do you do this? So Amanda says, I have a question regarding joints accounts. I'm getting married next month. And right now, my fiance and I are not planning to sub join accounts together. He makes more than I do, but we've always been open about money, debt and savings and never thought about it. The way we pay for things has been working for us and we use the same Bank which also makes it easy to transfer money to each other paying for utilities, etc. My question is, what would be the pros and cons of getting joint accounts for married couples? And I love this question and I'll say. Right off the bat. There isn't a right way. There isn't a wrong way to do this again. This is one of those completely grey areas when it comes to finance and you really have to figure out what works best for you. I will say that in my experience and with a lot of people I've worked with, they've had similar experiences where they have kepting separate. They really haven't thought about money, the understand each other situation. And then when they get married, it's just not that it gets more complex, but sometimes you're hit with bigger issues and bigger issues. Like what if one of the persons in the relationship gets laid off, which is really real, a lot of people are getting laid off without even expecting it, and they're getting smaller and smaller severances and it could really put a strain. What happens in that situation? Does the other person. Takeover more of the share or is that person who got laid off still responsible for quote, unquote their part? What does that look like? Also, what does it look like? If God forbid, one of one of the parties in the relationship gets hurt or sake or injured and can't work? What if there's a long-term disability? Gosh, there's so many different scenarios that could happen. What if that happens? What is that look like for you? And what if let's say you come up against a big purchase, right? You wanna buy a house or let's say there's infertility and you're trying to figure out, you know, you need. I've e f and it's really expensive. Say it's thirty or forty thousand dollars, which I think is actually on the low side, but you have this big expense. How're you going to tackle that? So while I don't think there's a problem

Amanda Shauna Danielle town Huey Shawna Bill forty thousand dollars twelve month ten dollar
"danielle town" Discussed on Millennial Money

Millennial Money

07:49 min | 3 years ago

"danielle town" Discussed on Millennial Money

"Decisions and it's causing more stress. It's causing more fear or it's commune just be confused about my finances. Even if I'm in a really good position, even if I don't have that, even if my income is thriving, even if all of those, you know outside factors to somebody else might look really good to me. It's still confusing, and I learned working with people that had really big states that had a lot of money. And it was like, well, they can't possibly have a money worry because they have more money than God, but that a lot of money worries probably more money worries than you. I have. Maybe they had more stake. I don't know. It's really interesting the psychology behind money when you start looking at the psychology of why people think certain ways about money, why they make certain decisions. It's really interesting to peel that back and look at. At what the different onion layers are underneath and what has, I guess, made this person think act feel about money the way they do, but we all do it. We're all guilty of it one way or another weather. We're in a healthy relationship. I will say with our finances or maybe not so healthy relationship or maybe just in a completely confused relationship trying to figure out how you do this thing because money touches everything. It touches career. It touches our housing situation touches. Our relationships touches the things we buy, the things we do, it's at the cornerstone, and so I thought, okay, I'm going through this process trying to write this book proposal eventually this book because I am going to write this book and because I have something to say, and I think it's, I think it's important. And I also think it's important that I share my story more of by story really honest. RAV version of my story because I think that maybe you can relate to it in some way. Maybe you can find some sense of victory by hearing my own story. But this all prompted me to to do this podcast episode and again, doing a lot of podcast swaps lately. I thought, okay, I really want to refine like, what are the things that nobody talks about with money that I know to be true because I've sat across from these people who are in these situations, and I've seen these things firsthand. I witnessed these conversations. I've been a part of these conversations. Sometimes there isn't a best choice or right choice. There's just choices. There's just options. I think, especially when we're thinking about, you know, I think big, like paying off debt. Let's say you have a lot of student loan debt, and you're trying to figure out what in the world do I do with this? Well, there's not always a best choice. There's not always a well. You should definitely do this. And I think that personal finance sometimes because there are so many different articles and there's so much discussion about personal finance. It's great. It's creating this awesome culture where I dare I say. An enthusiasm for figuring out what to do with your finances. I love it. I love that there are alternative options for banking and for savings and for investing and all sorts of different. It's different take on on money and it's really been a longtime coming, and thank God it here because we've all been screaming for this. I mean, I write a lot of articles about online Bank accounts, and I think I've almost found one that I'm really thrilled about, but it's taken me a while because there's been pros and cons as there is with anything. But I don't know if I necessarily totally happy with my money at a big Bank. I don't really like, you know what they're in the words of Janet Jackson. What have you done for me lately? Nothing they haven't done anything for me lately. They haven't given me more interest on my checking account. I'm not three. About the savings account. I just have it because of necessity to move money back and forth. They don't know my name. I'm just gonna count number to them. And so all of these things I went on a complete rant, even know how to get back to where I started. But we point is I think that it's it's great to have these healthy discussions about finances. I think it's a little bit dangerous to get in the mode of thinking that you have a list of certain things that you have to do, and if you don't do those things, you're not successful. And that's not to knock these. I've written plenty of articles and done plenty podcast about the five things to do this or the ten things do this. Those are great because they help you start thinking about your own situation. You can pull apart the different pieces of that really resonate with you. But I think getting your brain thinking that it's not. So it's not so linear for your finances is a really good place to be. Because it starts take a little pressure off of you. And I think that because we don't talk about money a lot with other people. We tend to think that we're so isolated. So if I didn't even five things that I think no one tells you about money, but are the five key things that I've seen. You know, sitting ne- I with hundreds and hundreds and hundreds of people. I would say the first one is that you're not so unique. Your situation is not so different than somebody else. In fact, it may be exactly the same situation as one of your friends or. Your neighbor or your co worker or your cousin, or could be anybody. But the point is that you're, you're not so unique. Your situation is not that different than anybody else's, and I think you can impre so that you can at least get to a place of realizing that I'm not alone. Whatever situation I'm in whatever decision I have to make millions and millions and other people at the exact same time are having to make that decision right alongside you are it's gonna jump into our remaining list of things, but we have a quick short break from our podcast sponsor. Audio books are just such a great site kick for summer activities, everything from hiking sunbathing on the beach, which is my personal favorite summer activity running road tripping, whether you're enjoying downtime outdoors or just hanging out, and I totally find that. Listening is a better way to binge content that you love while you're also doing the things that you love. And we recently went on a really, really short two day cruise. It actually didn't stop anywhere, but it was still fantastic this past weekend and my complete happy place was on the balcony, listening to my new awesome book on audible called invested by Danielle town. She's actually going to be on the podcast next week, in fact, and I cannot wait to share that interview with you. But with audible, you can listen to more books by switching seamlessly between all your devices and picking up just where you left off. This is awesome for anybody who is just constantly on the go and audible members. You get eight credit every month. Good for any audiobook in their store regardless of the price.

Janet Jackson Danielle town two day
"danielle town" Discussed on Invested: The Rule #1 Podcast

Invested: The Rule #1 Podcast

07:14 min | 3 years ago

"danielle town" Discussed on Invested: The Rule #1 Podcast

"Yeah. Everybody has Billtown and this is Danielle town. Welcome to the invested podcast. We are so excited today. We're so excited to be talking about the best investing strategies in the world that come from the best investors in the world who have been doing this successfully for eighty five years. And if you didn't grow up in a family with a lot of money and you've, you didn't grow up in a family where they understood proper investing. Then we're going to invite you to join the rule. One family here this I was just thinking as you'd made that description, does that call? Does that do I qualify for that particular nation because I sort of going to second. I don't know what I'm doing, but. But. Family with a lot of money that knew about investing. So I guess I would say. Out there even if you grew up in a family who people who knew about investing, and I have to say, I've talked to a number of you out there who say to me, hey, my dad also is a financial advisor or, hey, my dad works in a Bank, or, you know, my mom taught people about accounting, like people come up to me and say this stuff, and they always end it with and I don't know anything about it either like, yes, because that's not the kind of thing, unless you somehow have this. Special interest in those kinds of things. It's just not the kind of thing that you hear about at home. So it's all of us, dad, it's all of us. I think it is. Actually, it really probably is I made man. I mean, it's very hard for kids to just jump into adult activities that are sort of from kids point of view. Not really. Very interesting until later. Do you grow up and then you find out, oh, well, interesting or not. I better do this because I'm. Well, you know. Yeah. Well, it's like if you have a parent who's let's say, like tax advisor, nobody really expects you to be going around going, oh my God, what my parent does is so interesting and I'm learning so much about it and eight years old. And even when you're a grown up, all of us want to avoid the tax stuff and true like that. But I think people who are in the financial world don't think of it like that because you guys all think it's fascinating and we're kind of out here going. I'm not sure about that. This is by the way one of the great conundrums of modern life is that back when we were living in tribes. I'm have a cert romantic envy of tribal alive. So you know, because essentially you're bringing your children up right there where you are all the time and pretty much everything you're doing Mel and female is pretty vital if you don't do it. Well, you're gonna die and you're, you're part of this community. You're deeply invested in their deeply invested in you because you need to do well for the community to be. Okay. So you have this automatic great connection with your family. And then of course, that evolves into farming ultimately hurting, and then farming both both of which are also kind of, you know, family enterprises, and yet it's true. Really, it's the industrial age that set things off and isolated are kind of skill set and made our skills incredibly difficult to to learn. You know the skill of a surgeon, the skeletal lawyer, the skill of of a great business. Mind take many, many years of adult life to learn and access that. And I think investing is probably one of the easier things to access if we could figure out how to get kids started in it. Part out. Yeah, we should think about that. We haven't really thought about that much. You're so right? And also another thing. A lot of people have been saying to me since our book invested came out is how can I get my kid meaning like actual, you know, under fifteen kind of kid interested in this financial stuff interested in investing because they see us as father daughter, and I think they don't realize that I didn't come to us till I was like thirty something. It's a great question. You know, like looking back what would have worked for me and I'm frankly not sure what would have worked for me, but I think it's something we could really think on. And I honestly have been answering that question badly for for most of the time I've ever been ousted because I always answer it. Well, you know, the apple doesn't fall far from the tree, and so you know, you really must be an investor for your children to be interested at all. In other words, they're gonna, do you do? They're not going to do what you say. So if you're not following D good principles investing, they're not either and. Well, I've come to realize that even if you are following good investment advice, your child probably won't follow it either. So we've been. I think, I think actually have to do both. You have to, you have to do it or your kids probably aren't going to be at all interested. And then we've got a in that's acceptable to an eleven year old. So I'm working on it. It's a good future project for us. So before we Trinite value and technical indicators got a quick announcement which I've, we've now mentioned the last two episodes and now I have real information for you guys. My dad and I are going to be at the Berkshire Hathaway annual meeting coming up very, very soon this weekend, and we've got three different events that we're doing all of which are on my website, Danielle town dot com. If you go down, if you go to the blog section or you go to the in the news section, it's on both of those sections on Daniel town dot com. And here's what it is we are going to be at this incredibly exciting book signing. It's not just us. There's fifteen or sixteen other authors who are going to be there including Warren Buffett's grandson himself. So we're so honored to be in this comes. Any at Creighton university in conjunction with their value investing panel that is on the Friday, this coming Friday, and it's from one to six PM then on Sunday. So Saturday we're going to be at the meeting all day. Come say, hi to us. Sunday were doing a live podcast from the bookworm bookstore in downtown Omaha at one o'clock sharp. So come a little earlier than one and there's limited seating if you guys want to be in on that and see how we do the podcast and we're going to have special guest Eljay Rittenhouse who of mentioned a few times on here. I adore her and I think it's going to be so interesting to talk to her because she is an expert on buffet and on the meeting and is gonna tell us all the secret stuff. And that podcast, we're gonna put up as usual on Tuesday next week. So everybody who's not going to the meeting, which I know it's most of you will get to hear that on Tuesday as usual, and then Sunday night or Sunday. Late afternoon, we're going to be at the airport

advisor Billtown Eljay Rittenhouse bookworm bookstore Berkshire Hathaway Omaha Creighton university Warren Buffett Mel apple eighty five years eight years eleven year
"danielle town" Discussed on Invested: The Rule #1 Podcast

Invested: The Rule #1 Podcast

01:46 min | 3 years ago

"danielle town" Discussed on Invested: The Rule #1 Podcast

"The everybody this billtown and this is danielle town for bus above yazd where we are figure it out this particular podcast how to invest like warren buffett charlie mugger other great investors we call value investors would or sometimes called rule one investors and today we are going to really get into understanding how they invest 'cause we're going to look at specifically what they are buying yes by looking at the filings with the sec called thirteen are filings which are compiled in various websites including rule one invest in dot com toolbox or data roma and others you can google looking for what wouldn't look for for googling this kind of stuff i guess i echo gold at thirteen dash ask filings with which brought up a bunch of sec websites and then if you go pass those uh you'll get to the secondary websites we did a whole episode mature three episodes ago about why using the sec is website to look up thirteen of filings actually isn't rally super userfriendly and go back and check that out the short version is that they don't show you what's happened over time from quarter to quarter from your ear and what we really want to know is how these people been changing what they've been buying and selling so we like the secondary websites my dad's website will want investing dot com has a curated list as he named it last time of uh of investing gurus that he follows and then there is a bunch of out there.

sec warren buffett google googling thirteen dash
"danielle town" Discussed on Invested: The Rule #1 Podcast

Invested: The Rule #1 Podcast

01:53 min | 3 years ago

"danielle town" Discussed on Invested: The Rule #1 Podcast

"Hey everybody welcome to invested i'm danielle town last episode my dad and i were in the middle of talking about how to know it investing girls are doing from their public sec filings and we're going to keep talking about that but next week specifically how to use that information not just copy them i'm not going to just blindly copy some invest in girls not even charlie munger or warren buffett so i want to know what i should do when i see them buying a company and we're going to get into that next week this week though we're playing one of our episodes from the vault on how to make your first stock purchase just as with those sec filings talking about how to go about buying stock was a really cool view into how companies and stock markets work and the details most importantly that you don't think about before you do it through it's worth listening to again as we go into what the girls are doing in our episode next week my dad and i have a big announcement coming up in a few weeks that we're working hard on so please enjoy this episode from the vault and we'll be back to you next week and stay tuned for that exciting announcement in a few weeks worth thrilled about it thanks everybody die however running the spill town has is danielle town and we're here talking about investing and how to make money doing it warren buffett style and make your life better by investing with confidence instead of fear how to have money when you're old how they have money when you don't have any to start with how does who that's a good one that qatar how to get a high rates of return with very low risk almost no downside investing who could call that no downside invested almost no doubt almost no downside interesting sounds realists 98 present good result.

stock markets danielle town charlie munger warren buffett sec qatar
"danielle town" Discussed on Invested: The Rule #1 Podcast

Invested: The Rule #1 Podcast

01:48 min | 4 years ago

"danielle town" Discussed on Invested: The Rule #1 Podcast

"Do the everybody this is bill down listen danielle town of welcome to the invested podcast where we are teaching and learning at the same time well our new is one learns learning a lot actually you know you you of course i should mention what we're what we're doing here were stand what are you doing here we're we are studying warren buffett in charlie munger of try to channel these guys this is something i been doing for thirty years of danielle has been learning from me and we our i don't know about a hundred in twenty podcast into this learning process it sounds like where i'm like those people who contact the dead trained to channel warren and they're not dead they're not dead we we were just visited charlie last february dan degnon i would choose annual meeting ed charlie was making a joke about the age of his board of directors he said they just added a new border director member quite young and that reduce the average age of the board of directors to eighty nine correctly up he's in very good humor about his age is our i think you've had a really good life it must get to the point where you're dislike things are good you know like i'm if i kick the bucket tomorrow it's okay if i keep on for another twenty years that'd be great things are good it so interesting were both these guys are at right now for investing as well because.

danielle town warren buffett charlie munger ed charlie director thirty years twenty years
"danielle town" Discussed on Invested: The Rule #1 Podcast

Invested: The Rule #1 Podcast

01:59 min | 4 years ago

"danielle town" Discussed on Invested: The Rule #1 Podcast

"The the regardless will tell this danielle town woke up to the aggressive podcast where we're talking about football or talking about investing with us today through the lens of football i think is okay because we are talking about investing in your football team and how the supposedly rational approach to vested in your football team finding expressed players addi players to the whole thing starts to look at an awful lot like the way the stock market actually functions as opposed to the way the stock market supposed to function the stogran is supposed to function danielle as we now as a very efficient marketplace and what actually happens is occasionally it acts like that it acts like what efficiently ex officially occasionally near prices are values occasionally as it goes almost like you're looking at a wildly fluctuating line that goes through the middle line occasionally sometimes it's a valid sometimes beloit but an it averages the middle line and occasionally actually touches it that is more like what's really going on in this market and it's fascinating that there's been a fabulous book written about the attempt so far by behavioral economic economists led by kenny mid to verse ski schiller it yale and failure at the currently university chicago formerly at cornell to show that the the markets are not efficient because the markets are not necessarily rational all the time and the reason the markets are rational all the times because markets are made up by people we laws.

football stock market cornell danielle beloit kenny mid chicago