What exactly constitutes a “mistake” when it comes to your investing practice? Is it any time a company doesn’t pan out the way you thought it would, or is it simply when something causes you to break Rule #1 and lose money? While fear of being “wrong” 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. This week, Phil and Danielle talk about what it means to “get it wrong” in your investment practice and how that should (or shouldn’t) influence your decision-making process. For more thought-provoking or debate-inspiring quotes from one of the world’s best investors, click here for the Warren Buffett Book of Quotes: https://bit.ly/3OEPXjL Topics Discussed: Durable competitive advantage Mistakes vs. normal market occurrences Investing mindset Fear of failure in investing Understanding and preparing for risk Resources Discussed: Rule #1 Investing Learn more about your ad choices. Visit megaphone.fm/adchoices