201- Investing Success & Indexing
b'This week, Phil and Danielle continue their discussion of Ray Dalio\\u2019s 5 principles for inevitable success. If you haven\\u2019t listened to episode 200 you probably want to start there.\\nWe also discuss how difficult it is to understand why you made a mistake and how to fix it. Phil thinks that most of the time mistakes happen because you don\\u2019t fully understand something. Phil illustrates this by telling the story of the almond orchard that he purchased. The most important thing that you can do to tell if you truly understand something is to invert the entire story.\\nFinally, we talk about index investing. When you invest in an index, you\\u2019re effectively betting on the economy of another country. There might occasionally be a company in Canada, Europe, China, or Turkey you might want to invest in, but you have to consider the government of each of these countries and what they could potentially do to that business.\\nFor show notes and more information visit www.investedpodcast.com\\nLearn more about your ad choices. Visit megaphone.fm/adchoices'