Ep 386. Takeaways from Warren Buffett’s Shareholder Letter and Analyzing Ted Weschler’s Dillards Investment
Focused Compounding
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The Importance of Communicating With Investors
Munger is willing to make very big bets on things that he thinks are going to pay off in a big way. He hasn't always said that that is only in the really good businesses. His biggest mistake ever, he said, is an oil company. And you think it was too small to do in the portfolio that he manages for Berkshire. Say if he's managing 10 or $20 million, he made a $30 million bet, clearly that's not something he would do.
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