444- Catastrophic Mistake
b'What exactly constitutes a \\u201cmistake\\u201d when it comes to your investing practice?\\xa0Is it any time a company doesn\\u2019t pan out the way you thought it would, or is it simply when something causes you to break Rule #1 and lose money?\\n\\nWhile fear of being \\u201cwrong\\u201d on a position can be paralyzing for some, being willing and able to adapt to constantly shifting market conditions is a must for anyone looking to wade into the world of investing.\\n\\nThis week, Phil and Danielle talk about what it means to \\u201cget it wrong\\u201d in your investment practice and how that should (or shouldn\\u2019t) influence your decision-making process.\\n\\nFor more thought-provoking or debate-inspiring quotes from one of the world\\u2019s best investors, click here for the Warren Buffett Book of Quotes:\\xa0https://bit.ly/3OEPXjL\\n\\nTopics Discussed:\\n\\nDurable competitive advantage\\n\\nMistakes vs. normal market occurrences\\n\\nInvesting mindset\\n\\nFear of failure in investing\\n\\nUnderstanding and preparing for risk\\n\\n\\nResources Discussed:\\nRule #1 Investing\\n\\nLearn more about your ad choices. Visit megaphone.fm/adchoices'