Money and Finance
From Charlie Munger: The Complete Investor:
- Learning From Mistakes...
From Tren Griffin in his book Charlie Munger: The Complete Investor: Buffett has said that if you cannot explain why you failed after you have made a mistake, the business was too complex for you. In other words, Munger and Buffett like to understand...
- A Few Notes From The Berkshire Hathaway Annual Meeting
I'll put up some of the better transcripts that start to appear over the next few days, but until then, here are a few highlights from the notes that I took during the meeting. These are based on my scribbling and aren't exact quotes, just summaries...
- Excerpt From Warren Buffett's Annual Letter
In an exclusive excerpt from his upcoming shareholder letter, Warren Buffett looks back at a pair of real estate purchases and the lessons they offer for equity investors. Link to: What you can learn from my real estate investments – by Warren Buffett"Investment...
- Berkshire's No. 2 Man Helps From The Background
Buffett's No. 2 man Charlie Munger plays his role at Berkshire mostly in private The two men who run Berkshire Hathaway Inc. have an arrangement: Warren Buffett is the face of the company and Charlie Munger stays mainly in the shadows. That works...
- A List Of Good Investing Books
Must-Haves for Serious Investors Benjamin Graham. The Intelligent Investor. The value investor's bible. Make sure you get an edition with Jason Zweig's commentaries.Peter Lynch. One Up on Wall Street. The retail investor's bible. Lynch's...
Money and Finance
The question Warren Buffett used to ask every CEO...
From Charlie Munger: The Complete Investor:
Munger is a believer in the investment approaches and ideas of Philip Fisher. Fisher was a successful investor based in California who wrote an influential book entitled Common Stocks and Uncommon Profits, first published in 1958. One of these ideas is that the successful investor is usually inherently interested in business problems. It is precisely for this reason that Ben Graham said that the best approach to investing is to be businesslike. The idea is that, in order to understand the stock, you must understand that the business is fundamental to the Graham value investing system. For this reason, investors like Fisher and Munger developed a “scuttlebutt” network of people who can help them to learn more about a business. What they inevitably find is that people involved in an industry will talk freely about their competitors as long as they believe they will not be quoted. Buffett uses the same approach:I would go out and talk to customers, suppliers, and maybe ex-employees in some cases. Everybody. Every time I was interested in an industry, say it was coal, I would go around and see every coal company. I would ask every CEO, “If you could only buy stock in one company that was not your own, which one would it be and why?” You piece those things together, you learn about the business after a while. —WARREN BUFFETT, UNIVERSITY OF FLORIDA, 1998
- Learning From Mistakes...
From Tren Griffin in his book Charlie Munger: The Complete Investor: Buffett has said that if you cannot explain why you failed after you have made a mistake, the business was too complex for you. In other words, Munger and Buffett like to understand...
- A Few Notes From The Berkshire Hathaway Annual Meeting
I'll put up some of the better transcripts that start to appear over the next few days, but until then, here are a few highlights from the notes that I took during the meeting. These are based on my scribbling and aren't exact quotes, just summaries...
- Excerpt From Warren Buffett's Annual Letter
In an exclusive excerpt from his upcoming shareholder letter, Warren Buffett looks back at a pair of real estate purchases and the lessons they offer for equity investors. Link to: What you can learn from my real estate investments – by Warren Buffett"Investment...
- Berkshire's No. 2 Man Helps From The Background
Buffett's No. 2 man Charlie Munger plays his role at Berkshire mostly in private The two men who run Berkshire Hathaway Inc. have an arrangement: Warren Buffett is the face of the company and Charlie Munger stays mainly in the shadows. That works...
- A List Of Good Investing Books
Must-Haves for Serious Investors Benjamin Graham. The Intelligent Investor. The value investor's bible. Make sure you get an edition with Jason Zweig's commentaries.Peter Lynch. One Up on Wall Street. The retail investor's bible. Lynch's...