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Phil Town
On the road across the U.S.
Phil Town is the bestselling investing author of RULE #1 and PAYBACK TIME.
Interests: travel, business, finance, speaking, personal finance, teaching, investing, my iphone
Recent Activity
Making what available? Another course?
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point well taken.
Toggle Commented Mar 10, 2013 on JOEY MILLER ON THE RECENT 10-10 TRADE at PHIL TOWN
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Hey guys, we know that 3 days of firehosed knowledge is a lot to take in. We're going to have our team contact everyone who asked to be contacted and see where you're at and what we can do to help. What we don't want to do is to have the blind leading the blind ... not that Garrett or Michael are blind but that there was a lot of new stuff there this weekend and we want to be sure our coaching staff has had a chance to assimilate it. We're trying hard to get the dissemination of Rule #1 education under control so it doesn't just leak out everywhere and get diluted.
Toggle Commented Mar 7, 2013 on JOEY MILLER ON THE RECENT 10-10 TRADE at PHIL TOWN
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Awesome, Grant. Thank you.
Toggle Commented Mar 6, 2013 on JOEY MILLER ON THE RECENT 10-10 TRADE at PHIL TOWN
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Good luck on the 65 today. And thanks for the Garth poetry. I'll keep this around.
Toggle Commented Feb 28, 2013 on JOEY MILLER ON THE RECENT 10-10 TRADE at PHIL TOWN
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That's as clear as it gets. Thank you.
Toggle Commented Feb 28, 2013 on JOEY MILLER ON THE RECENT 10-10 TRADE at PHIL TOWN
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You guys understand that she did well with a small amount of capital, poured in more of her own and did well and then with a track record brought in over $100 million to work with. In other words, she's made $41 million on about $110 million in 2 years or so. Quite good considering she has a lot of that money sitting on the sidelines as part of the strategy. The best part of this is that she's like most of us, a regular person, but she applied herself, was fully committed to her goal and she got there. I don't know if the lesson is that you can do it, too. Maybe that's true. Maybe it isn't. What I do know is that if you stay on your boat, you'll be a river guide forever. You get off the boat, something interesting is going to happen for sure. I worked with Dr. Jonas Salk for a while, investing in a company he was Chairman of. He believed in burning the ships and going fully committed, that doing so somehow got the laws of nature on your side to bring you things you need when you need them. That's been my life experience too. Don't know if its been yours. But when I commit to a goal find that I either get there or I get somewhere else that on reflection and the benefit of 20-20 hind site is even better than where I thought I was going. Having that outcome over and over makes you unafraid to leap in. But there is a skill set that goes with it. Just leaping isn't enough, but leaping in is required to attain the skill. When I was a beginning guide I had to learn to NOT go with the flow but to actively seek out the down stream current on a big muddy dangerous river and to try to feel and see the smoothest line through a rapid, through the rocks and holes and eddy's because I was rowing a huge 24 foot boat loaded with gear and food and 7 people and if I got in the wrong place I quickly found out I'd have to bust a gut to get back to the right place and sometimes even that wasn't enough. You remember the story about nearly killing those guys in Crystal. But I found that doing it for 30 miles a day is enough to learn how to actively seek out the line without exhausting myself. I think about that for life, too. Like we're each on a river we can't see but its there with the current pulling at us. If we just 'go with the flow' we'll usually end up stuck in an eddy or going over a waterfall. The trick is to be actively feeling for the line and it isn't necessarily 'the flow'. In fact, some of the time it is certain to not be the flow, that the flow is exactly the wrong thing to follow. Sometimes you have to work your ass off to get out of the flow to get into position for what's coming. Usually because you waited too long before seeing where you should be going. Skill in living is like that I think. The Hindus call it Dharma. The line of your life that feels like you're in the zone doing what you were put on earth to do. Like you're doing everything and yet you're doing nothing much. A skilled guide can take that huge boat down the river with a stroke of the oar here and a push there and it just seems to go in the right place all the time, just sliding by the eddy's or just catching one perfectly. You've seen that with great athletes. Watch Tiger Woods hit a 5 iron and its just effortless. Watch Melissa ride a cross country course and it looks like child's play. That's the way life should be for us and its a great skill that makes it that way. Its mastery. I've studied this stuff my whole life and believe me when I tell you that most great people I know believe life is something like this....
Toggle Commented Feb 28, 2013 on JOEY MILLER ON THE RECENT 10-10 TRADE at PHIL TOWN
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Michael, She got pumped up about this at a big arena event where I sent about 5000 people to the classes we set up with Investools back in those days. We've gone on our own since Investools used to teach a lot of Rule #1 stuff but gradually left it out over the years ... and to me, the critical part of doing investing well is all Rule #1. By the way, we'll talk this weekend about what she's doing.
Toggle Commented Feb 28, 2013 on JOEY MILLER ON THE RECENT 10-10 TRADE at PHIL TOWN
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Hey Layne! Long time! See you soon!
Toggle Commented Feb 28, 2013 on JOEY MILLER ON THE RECENT 10-10 TRADE at PHIL TOWN
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Exactly Sent from my iPhone
Toggle Commented Feb 27, 2013 on JOEY MILLER ON THE RECENT 10-10 TRADE at PHIL TOWN
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Wyndham Peachtree City, GA.
Toggle Commented Feb 27, 2013 on JOEY MILLER ON THE RECENT 10-10 TRADE at PHIL TOWN
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And let's not get into "teaching" advanced option combination trades here on the blog. Trying to learn from reading about these trades is like learning snowboarding from a book. When you go out and try it for real, you're probably gonna get smacked down. It can be done but its a bit painful. My recommendation is you take the classes we have available when you can and then get into Joey Miller's trading class. Write Michelle at support@ruleoneinvesting.com. I get it that if you don't have a lot of money, trading is a big deal because you can go from a little to a lot in a big hurry if you know what you're doing. I started out rolling the dice, too. And it still works for a few of us. I just heard from a student who I taught in 2002 who has made $41 million trading OTM puts and calls on the index. She started with a little. Made a bunch. Then she did a smart thing and went full time. Made a bunch more and with a track record went after investment capital. She now has over $150 million under management. In 2011 she had 1 losing trade. In 2012 she had none. So, yes, I get it and I teach it but learning it here isn't a good plan.
Toggle Commented Feb 27, 2013 on JOEY MILLER ON THE RECENT 10-10 TRADE at PHIL TOWN
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Its up to each of us what we consider to be foolish on the part of CEOs doing stock buy-backs with our money and that's the way to look at it ...its our money. Are they spending it wisely or foolishly? If they are spending it foolishly, they should stop and give it back to us to let us reinvest it. Of course that's without the tax considerations that often cause CEOs to mal-invest. So use that as a guideline: Are you happy he's buying the stock because its cheap or are you mad at him for buying stock instead of giving you the money. If you'd buy stock, then probably he should, too. That means 80% of Sticker and below. And if you wouldn't buy, well, he shouldn't be buying either, so buying stock well above Sticker is bad. And buying at Sticker is a judgment call on the CEO's part but probably not to our likely most of the time.
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That will work just fine.
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Its definitely a typepad limitation. No response from them so far.
Toggle Commented Feb 16, 2013 on AND THE WINNERS HAVE BEEN NOTIFIED at PHIL TOWN
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Typepad. Looking to migrate and improve but it's down the list. Sent from my iPhone
Toggle Commented Feb 16, 2013 on AND THE WINNERS HAVE BEEN NOTIFIED at PHIL TOWN
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Brilliant. Exactly.
Toggle Commented Feb 10, 2013 on AND THE WINNERS HAVE BEEN NOTIFIED at PHIL TOWN
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Start time is 9 am Day One (registration between 8-9). Day 3 we will finish our Cash Flow work at 3 pm. From 3-4 I'm going to show you guys how to get your financial house in order and how to bring in some serious money doing part time revolutionary work with Rule One Financial Group (RFG). From 4-5 we'll take questions and applications to join an RFG A-Team, we'll show you how to get licensed quickly and how we plan on helping you build your part time piece of the RFG business.
Toggle Commented Feb 7, 2013 on AND THE WINNERS HAVE BEEN NOTIFIED at PHIL TOWN
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Yup. That works. But watch out that you don't unwittingly sell naked puts when you don't want more of the stock. We do naked puts where we want to own the shares we contracted to buy.
Toggle Commented Feb 5, 2013 on AND THE WINNERS HAVE BEEN NOTIFIED at PHIL TOWN
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We capped the winners at 200 plus guests and a number of our bloggers are going as guests. If you can hook up a guest spot, you more than welcome. I'll forward this to michelle but email her at registration@ruleoneinvesting.com. And congratulations on the great results this year.
Toggle Commented Feb 5, 2013 on AND THE WINNERS HAVE BEEN NOTIFIED at PHIL TOWN
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thanks, Scott. See you there.
Toggle Commented Feb 5, 2013 on AND THE WINNERS HAVE BEEN NOTIFIED at PHIL TOWN
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Check with Michelle, guys. She's working out all the details. If she can get you in, she will. registration@ruleoneinvesting.com
Toggle Commented Feb 4, 2013 on AND THE WINNERS HAVE BEEN NOTIFIED at PHIL TOWN
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Awesome, Sam. Thank you.
Toggle Commented Feb 4, 2013 on AND THE WINNERS HAVE BEEN NOTIFIED at PHIL TOWN
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email support@ruleoneinvesting.com
Toggle Commented Feb 4, 2013 on AND THE WINNERS HAVE BEEN NOTIFIED at PHIL TOWN
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Hah!
Toggle Commented Feb 4, 2013 on AND THE WINNERS HAVE BEEN NOTIFIED at PHIL TOWN
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