In this podcast, we've got a 5-minute listen from Chapter 3 of David Gardner's latest Rule Breaker Investing book. In "After Yesterday," David tells the CNBC story of a co-host stunned that he still liked cloud stocks and why Rule Breaker investors don't let yesterday's tape write tomorrow's script. Enjoy the excerpt, then share it with a friend who could use a smarter, happier, and richer mindset.
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A full transcript is below.
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This podcast was recorded on Sept. 13, 2025.
David Gardner: Hey, Fools. Happy weekend. David here with a quick Rule Breaker investing Weekend Extra. I've got something special for you today. It's a five minute listen in from the Rule Breaker Investing audio book, which arrives just days away September 16, alongside the hardcover and the eBook versions. Now, if you're an audible fan or you just like hearing ideas rather than reading them, this is your sneak peek, or listen. A quick word on what you're about to hear. This excerpt captures the spirit of my book, practical, optimistic, maybe a little mischievous, equal parts, habits, stock picking traits, and portfolio principles, all in service of making us smarter, happier, and richer. This is the start of Chapter 3. It's in my own voice, of course, with a few points you may recognize as a regular listener of this podcast and a story you probably haven't heard yet. If you enjoy it, you can pre order wherever you get your books and audio books. Here's a pro tip. Pre orders helps signal to the world that investors still read and listen. If someone in your life could use a friendly on ramp to investing, and send them this episode, consider it the audio appetizer before the main course lands on September 16. Enough for me. Let's queue it up, producer Bart Shannon, five minutes from the Rule Breaker Investing Audio Book. I hope it entertains here on your weekend as a Weekend Extra, and I hope this audio book, pays for itself many times over in the years to come. Let's get started. Fool on.
You still like Cloud computing stocks? The host queried me during the commercial break. After yesterday, I was co hosting the early morning CNBC market Show with a smart young anchor. Our perspectives couldn't have been further apart. During the first commercial break, I'd mentioned several of my favorite stocks like Salesforce, and her jaw dropped. The Cloud computing sector had sold off 7-10% the day before. You still like cloud computing stocks after yesterday? My co host, we shall call her after yesterday, wasn't a day trader or a high frequency trading supercomputer. This was a well educated, successful broadcast journalist who got up at dawn to cover the markets. People tuned in to her to learn the days ins and outs of business and market developments. Except maybe in a sense, she was a day trader. Anyone who follows the markets for a living and makes other people feel like rubes for still liking a stock after yesterday would seem to be day trading the headlines, trends, and buzz, even if not day trading the stock market. If you follow something minute by minute, every zig zag, pass, shot, or tackle becomes noteworthy. You magnify it, and heck, after yesterday isn't being paid for her financial advice, she's great at what she does. Anchoring live TV at any hour of the day is a demanding job. Just don't confuse her perspective with financial expertise or let it guide your money. I'd guess some people watching CNBC think the opposite. In most aspects of life, I'd bet after yesterday is well mannered and exemplary. It's only with the stock market that she thinks and likely acts contrary to her and your best outcomes, ironic and crazy. If you ever wonder how common capital F Fools like you and me can outperform Wall Street and its indices, you now know your answer.
The surest way to beat the market over time involves maintaining the same equanimity and perspective with your money that you do in other aspects of your life. Maybe Billy Joel crooned the greatest investment secret of all, don't go changing. In other words, buy stocks to keep them, not trade them. You'll do so much better if you invest for at least three years. If your absolute minimum holding period is less than three years, you're doing it wrong. We often misunderstand what invest means and what investing looks like. The Latin root for invest is investire, meaning to put on the clothes, wear the garments. Think of a related phrase like priestly vestments. Picture fans wearing the jerseys of their favorite teams. As they walk to the stadium, find the way to their seats, cheer their team on, they are sporting the home team colors. And whether their team wins or loses, they keep that jersey on. Whether their team has a good or bad season, they keep that jersey on. Why? Because they're deeply invested. Ironically, many may be more invested in their sports teams than in something of far more value the financial investments they make. Sports fans know their team is not going to win every game or year. Rule Breaker investors know the same of our stocks. If you find a great team, stick with it. Putting on the clothes can be literal. People wear shirts with an Apple logo, love their Lululemon's, have Harley tattooed on their shoulder. These are not the same people. You likely have logo garments in your wardrobe. My wishes for you are A, that you own those stocks, and B, that those investments will outlast your clothes. Whether or not you have the shirt yet, I want you to love the companies you're invested in. My portfolio includes enterprises that I believe do good things in this world, are purpose driven, manage for the long term, show resilience, exhibit optionality. I believe their success leads to a better world. When you're actually invested like this, it's natural, even in hard times to keep that jersey on. If people treated financial investments like their lifelong emotional investments in their sports teams, they'd be smarter, happier, and richer.
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