The first rule of compounding never interrupted unnecessarily. The longer you can let that unrealized gain continue over year after year he describes as it allows you to comp how more forcefully now the company might not be growing maybe at the same rate that it was. There's real advantage in just not getting in the way of it and i think it's a bigger lesson for us as investors even with the best intentions our tendency is to mess it up right.
IN THIS EPISODE, YOU’LL LEARN:
02:00 - What led Chris into being so passionate about studying Warren Buffett and Charlie Munger.
08:45 - Why Chris chooses to allocate most of his portfolio to index funds.
17:18 - Why Chris typically avoids investing in more mature companies.
23:20 - How Warren Buffett’s definition of risk differs from that of the academics.
29:14 - What makes Costco such a great business.
36:21 - The opportunities for growth that Costco will be pursuing.
55:22 - How Warren Buffett and Charlie Munger’s investment strategies differ.
And much, much more!
*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.
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