Invested: Episode 10- 26 Is The Magic Number
Phil Town 
Mohnish Pabrai has a 26 on his license plate. Buffett should have it, Munger should have it and you should have it too. Find out what it means in this episode.
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In Episode 10 You Will Learn
1. Rule #1 from Warren Buffett. "Don't lose money."
2. Why Warren Buffett and Charlie Munger have a 10 year outlook on investments.
3. Why the typical time horizons for fund managers holding your money is 3 months.
4. Are mutual funds a huge scam?
5. The tragedy of Julian Robertson.
6. Volatility and risk aren't the same thing.
7. What does buying mink coats at yard sales have to do with investing?
8. As a small investor, do you sell you stock when it hits its retail value?
9. What is the CAGR?
10. Mohnish Pabrai, "The Dhandho Investor."
11. The magic number of 26%.
Show Notes
Phil Town
Phil Town is an investment advisor, hedge fund manager, 3x NY Times Best-Selling Author, ex-Grand Canyon river guide, and former Lieutenant in the US Army Special Forces.
