 Number five, practical investment insight. Proper allocation of capital is an investor's number one job. So we have capital and we have to allocate in the best way possible with the highest return at the lowest risk. That's what we have to learn to do. It's obvious that if a company generates high returns on capital and reinvests at high returns, it will do well. But this wouldn't sell books. So there's a lot of twaddle and fuzzy concepts that have been introduced that don't add much. So return on capital, businesses that do good and that's it. Everything else, costed weight of capital, blah, blah, blah, according to Munger, that's all Lula Palooza. In the real world, you uncover an opportunity and then you compare other opportunities with that and you only invest in the most attractive opportunities. Really make comparative excel table of all your investments and then you'll see which one are the best ones and which are not so good. And then invest in the top five of those. We are guessing at our future opportunity cost, Warren is guessing that he'll have the opportunity to put capital out at high rates of return. So he's not willing to put it out at less than 10% now. But if we knew interest rates would stay at 1%, we'd change. So Warren Buffett has 100 billion in cash, which means that he expects interest rates to be much higher. And he's looking at investments at 10%. We've discussed synchrony financial, store capital, airlines, all Buffett investments that yield more than 10%. So we should really stick to having higher returns than 10%. There are two kinds of businesses. The first earns 12% and you can take it out at the end of the year. The second earns 12%, but all the excess cash must be reinvested. There's never any cash. It reminds me of the guy who looks at all of his equipment and says, there's all my profit. We hate that kind of business. So really look at businesses that make you rich, not that constantly invest in their business. Because sooner or later their business will go bust and you want the cash.