Path to Confidence: Build an Investing Playbook

Mike Tyson famously said, everybody has a plan until they get punched in the mouth. And in the stock market, it's pretty much the same thing. It looks like your favorite company is randomly cutting their dividends or the stock price drops by 15% by lunch. If you rely on your gut instincts in that moment, you're going to lose money almost every single time because emotion takes over. You're not prepared for it. So today, Andrew and I are going to talk about how to build a mechanical plan, a playbook, if you will. We're gonna tell... Walk you through how to build that plan so that you can survive when the punches start landing and you don't freak out. So buckle up. Here we go. Support comes from Wise, the smart way to manage the currencies you need around the globe. Fed up with losing out to hidden fees when you send money abroad with your everyday bank? Choose the smart way, Wise. You can count on the exchange rate you'd usually find on Google. No unwelcome surprises. Plus, ditch that where's my money feeling. Most transfers arrive in under twenty seconds. Join millions saving billions on hidden fees. Be smart, get wise. Download the Wyze app today. Ts and Cs apply. This episode is brought to you by State Farm. You know that feeling when something fits just right? Your go to jeans, your perfectly customized coffee order, a playlist that somehow knows exactly what song you need next? Personalization makes a difference, and your insurance should be no different. State Farm can help personalize coverage that fits your life and your budget because your insurance coverage should feel right for you. Like a good neighbor, State Farm is there. You're tuned in. You're tuned in. To the investing for beginners podcast. Investing for beginners podcast. The show for the long term investor. We cut through the noise to focus on what works. Compounding, discipline, and the conviction to buy wonderful businesses and stick with them. Your path to financial freedom. Start now. And welcome back to the investing for beginners podcast, everybody. Just as a warning, I am having trouble speaking today. I keep getting tongue tied. So bear with me because I'm not about to edit all that out. No. I'm kidding. But, so today, Andrew and I are talking about just how to take away the emotion when when we should be panicking. And, you know, Andrew, I I don't know about if you've ever had an an experience like that, but there there are certain... Well, I'll I'll share a story. When I was in basic training, I asked one of my my drill instructors, you know, what what it was like for them the first time they ever saw combat. And he's like, you know, I honestly don't even remember it. And I was like, like, that's so crazy to me. How how can you not remember something like that? He's like, …