In one sentence: A rerun of 149, the interview with mindfulness teacher Dawa Tarchin Phillips on how presence keeps fear and greed from distorting an investor's decisions. The full notes are in 149; this note records only what's new.
Key ideas
- Rerun. The episode is the same interview as 149, re-released after a break in the feed. The conversation itself is unchanged. [02:00–49:00]
- New: the framing. In a short intro, Danielle says the podcast had taken an unplanned break, the first in eight years, and promises to explain on the next regular episode. She picked this interview because it is about making investing a regular practice, for people who struggle to find the time, the intention or the desire. [00:00–01:00]
- Practice over outcome. Phil and Danielle both return to the idea that investing is a practice you never fully master, and Dawa calls it a discipline of self-mastery. This is the thread to take away if you only skim 149. [04:00–05:00, 28:30–31:00]
- Pointers back to 149. Fear versus discernment, the TAIWA levers, anchors, triggers, fund-manager emotions and Buffett's "wait for the pitch" are all covered there. [11:00–45:00]
How it maps to RuleOne
- See 149. Nothing new to add: the link is the written buy price and watch list, so a scary day is answered by a note, not a reaction.
Buffett, Munger and Graham links
- See 149 (Graham's Mr. Market, Buffett's fear and greed lines, temperament over IQ).
Words to know
- Practice: a skill you keep working at and never finish mastering, which is how Phil and Danielle describe investing.
Try this
If 149 is already done, do something different: put a recurring 20-minute slot in your calendar this week for investing practice (reading a 10-K section, or reviewing /holdings/ notes), and keep it for four weeks. A small slot you keep beats a big one you skip.
Check yourself
- What is different about this episode compared with 149?
Answer
Only the new intro from Danielle about the podcast break and why she chose this interview. The interview is the same. - Why does Danielle say she chose this interview for a gap in the feed?
Answer
It is about making investing a regular practice, which many people struggle to fit into their routine.
Short quotes
"Fear is essential to survival. It is not essential to thriving." (Dawa, ~21:00, auto-transcribed)