Saturday, April 25, 2020

2020 notes - How to Invest: Becoming a Millionaire | Phil Town

Here is the link.



Margin of safety - learn how to look up, and importance to learn the concept

Be lazy, be patient! Be so patient! Almost do nothing.

Control the fear - how to face challenge? Buffet told me in 50 years. Fear affects us too.
Margin of safety price - Buy them on sale - Do it then. Do not do it little bit. Load up a damn truck.

When it is raining gold. Load up truck.

Fear, greedy, as owner of stocks. Try to limit to 10 stocks. Do as a business owner. Read the reports from CEO, follow the news. Something about moats, ...

Start stockpiling it. - Add more. Deal with emotion rules. Every step - know the value of business
10 dollar bill for 5 dollars, for 3 dollars.

Big five numbers - are they goods.

You're going to inevitably sell it. Sell them when price were too high.

Eight step - repeat. Over and over again.

11:16/ 13:46 check the debt - copy the screen, please



Typical they only buy one or two things a year.
Be able to buy them.

8 simple steps to wealth

I like to take the image copy and make it more memorable. 


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