In this episode, we talked about stocks' Price vs Value. Price is simply what the market is willing to pay today, at the moment; price is arbitrary and value is fundamental. Nathaniel explained why they are often different, and the disconnect between these two is what a good investor looks for: a cheaper price for a higher value. It doesn’t matter what kind of investor you are: growth-focused, value-focused, international-focused...in the end, the goal is the same, just with different applications. Nathaniel gave great examples of how irrational markets could be, and Tim added that you shouldn’t replicate other investors’ portfolios without understanding their reasons for buying and selling.