Jason Hall

That's a feature of investing stocks, and when you start making that part of your mindset and the way you think about stocks,

It really helps.

Now, let's use MercadoLibre and Intuitive Surgical just as a couple of Rule Breaker examples.

These have been in the Rule Breaker service for a very long time.

They're big winners.

We can go back to the beginning of 2010 for both, just as an example.

I think the market is up around 700% in total returns since that period.

That's an incredible run for the stock market.

But Intuitive Surgical is up 1,570%.

MercadoLibre is a 39-bagger.

So we've gotten 16 times and 39 times that initial investment in total returns on those two stocks.

Now, to put it another way, Emily, and this is where it gets really powerful, let's say you bought Intuitive Surgical back in 2010, and you also bought 10 other stocks at the same time, invested the same money in those other 10 stocks, and all 10 of them went bankrupt.

you still would have earned 570% in gains because Intuitive Surgical did well.

Now, if it was MercadoLibre, you could have bought MercadoLibre and 37 other stocks that went to zero and you still would have made money.

The point is, if you sold out of either of those companies along the way because of competition concerns, valuation concerns, macro concerns, and there were plenty of opportunities along the way to do it, you would have missed out on their strong growth.

Which, by the way, Jeff, you mentioned this before, it's not over for either of these companies.

Emily, I want to start by saying I love that you used the word framework there.

I described earlier how our human nature sets us up to fail as investors, and a good framework beats rules all day.

Rules are stupid things like selling half of a stock that doubles and thinking of things as house money.

A framework helps us build a process that would assist us in making better decisions.