Today's quote comes from the book Damn Right! by Janet Lowe.

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Disclosures: This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products, or services. There can be no guarantees or assurances that the views expressed here will be applicable to any particular facts or circumstances and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment. The commentary in this “podcast episode” (including all books, articles, podcasts, or any other information referenced within) reflects the personal opinions, viewpoints, and analyses of Ashby Daniels alone, and may not reflect the views of anyone else. AI was used to help produce the script for this episode. References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Any charts, graphs, data, and analysis provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others. Investments in securities involve the risk of loss.

Today's quote comes from the book Think Twice by Michael Mauboussin. 

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Disclosures: This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products, or services. There can be no guarantees or assurances that the views expressed here will be applicable to any particular facts or circumstances and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment. The commentary in this “podcast episode” (including all books, articles, podcasts, or any other information referenced within) reflects the personal opinions, viewpoints, and analyses of Ashby Daniels alone, and may not reflect the views of anyone else. AI was used to help produce the script for this episode. References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Any charts, graphs, data, and analysis provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others. Investments in securities involve the risk of loss.

Today's quote comes from the Nomad Investment Partnership Letters by Nick Sleep (and Qais Zakaria).

If you'd prefer the newsletter version (which is much shorter), you can sign up for our Rational Investor Newsletter here.

Disclosures: This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products, or services. There can be no guarantees or assurances that the views expressed here will be applicable to any particular facts or circumstances and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment. The commentary in this “podcast episode” (including all books, articles, podcasts, or any other information referenced within) reflects the personal opinions, viewpoints, and analyses of Ashby Daniels alone, and may not reflect the views of anyone else. AI was used to help produce the script for this episode. References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Any charts, graphs, data, and analysis provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others. Investments in securities involve the risk of loss.

Today's quote comes from the 2023 Giverny Capital Investor Letter by Francois Rochon.

If you'd prefer the newsletter version (which is much shorter), you can sign up for our Rational Investor Newsletter here.

Disclosures: This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products, or services. There can be no guarantees or assurances that the views expressed here will be applicable to any particular facts or circumstances and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment. The commentary in this “podcast episode” (including all books, articles, podcasts, or any other information referenced within) reflects the personal opinions, viewpoints, and analyses of Ashby Daniels alone, and may not reflect the views of anyone else. AI was used to help produce the script for this episode. References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Any charts, graphs, data, and analysis provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others. Investments in securities involve the risk of loss.

Today's quote comes from How We Got to Now by Steven Johnson.

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Disclosures: This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products, or services. There can be no guarantees or assurances that the views expressed here will be applicable to any particular facts or circumstances and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment. The commentary in this “podcast episode” (including all books, articles, podcasts, or any other information referenced within) reflects the personal opinions, viewpoints, and analyses of Ashby Daniels alone, and may not reflect the views of anyone else. AI was used to help produce the script for this episode. References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Any charts, graphs, data, and analysis provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others. Investments in securities involve the risk of loss.

Today's quote comes from The Fundsmith 2025 Shareholder Meeting.

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Disclosures: This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products, or services. There can be no guarantees or assurances that the views expressed here will be applicable to any particular facts or circumstances and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment. The commentary in this “podcast episode” (including all books, articles, podcasts, or any other information referenced within) reflects the personal opinions, viewpoints, and analyses of Ashby Daniels alone, and may not reflect the views of anyone else. AI was used to help produce the script for this episode. References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Any charts, graphs, data, and analysis provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others. Investments in securities involve the risk of loss.

Today's quote comes from a 1990 memo titled "Re: The Route to Performance" by Howard Marks.

If you'd prefer the newsletter version, you can sign up for our Rational Investor Newsletter here.

Disclosures: This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products, or services. There can be no guarantees or assurances that the views expressed here will be applicable to any particular facts or circumstances and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment. The commentary in this “podcast episode” (including all books, articles, podcasts, or any other information referenced within) reflects the personal opinions, viewpoints, and analyses of Ashby Daniels alone, and may not reflect the views of anyone else. AI was used to help produce the script for this episode. References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Any charts, graphs, data, and analysis provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others. Investments in securities involve the risk of loss.

Today's quote comes from The Little Book of Common Sense Investing by John Bogle.

If you'd prefer the newsletter version, you can sign up for our Rational Investor Newsletter here.

Disclosures: This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products, or services. There can be no guarantees or assurances that the views expressed here will be applicable to any particular facts or circumstances and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment. The commentary in this “podcast episode” (including all books, articles, podcasts, or any other information referenced within) reflects the personal opinions, viewpoints, and analyses of Ashby Daniels alone, and may not reflect the views of anyone else. AI was used to help produce the script for this episode. References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Any charts, graphs, data, and analysis provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others. Investments in securities involve the risk of loss.

Click here to see Paul Slovic's study that was referenced throughout the episode.

Disclosures: This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products, or services. There can be no guarantees or assurances that the views expressed here will be applicable to any particular facts or circumstances and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment. The commentary in this “podcast episode” (including all books, articles, podcasts, or any other information referenced within) reflects the personal opinions, viewpoints, and analyses of Ashby Daniels alone, and may not reflect the views of anyone else. AI was used to help produce the script for this episode. References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Any charts, graphs, data, and analysis provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others. Investments in securities involve the risk of loss.

Links to various articles on the nuclear plants discussed:

• Tsunami stones
• Fukushima nuclear accident
• Onagawa nuclear plant
• Why Fukushima Was Preventable

For your candid feedback, you can send an email to ashbydaniels at hey dot com.

Disclosures & Disclaimers:

This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products, or services. There can be no guarantees or assurances that the views expressed here will be applicable to any particular facts or circumstances and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment. The commentary in this “podcast episode” (including all books, articles, podcasts, or any other information referenced within) reflects the personal opinions, viewpoints, and analyses of Ashby Daniels alone, and may not reflect the views of anyone else. References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Any charts, graphs, data, and analysis provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others. Investments in securities involve the risk of loss.