Phil Town: Rule 1 investing is about understanding the business, making sure it's got a big moat and good managers. He says if you don't like learning things or digging into stuff, then you're probably going to be better off just putting your money into an index. And so what Charlie Munger basically said, it's so simple. Anybody could do it; any teacher doesn't teach it in college because. It's simple and easy.
Phil and Danielle read through a 10-K report step by step so you can see exactly what it takes to understand a business. For show notes and more information visit www.investedpodcast.com
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