Invested: How I Learned to Master My Mind, My Fears, and My Money to Achieve Financial Freedom and Live a More Authentic Life (with a Little Help from Warren Buffett, Charlie Munger, and My Dad)

by Danielle Town

Diversify and hold is commonly thought of as investing, but that strategy is really just a cleverly disguised form of speculation that provides $100 billion a year in fees and commissions to Wall Street sharks and sycophant financial advisers. Buying stocks and bonds that you don’t understand isn’t investing.

real investing is about having a high degree of certainty that you’re going to make money because of the difference between what you paid and the cash flow value you bought; everything else is speculating.