Classic 11: Warren Buffett’s Biography
We Study Billionaires - The Investor’s Podcast Network
Warren Buffett: Lessons from Salomon Brothers
This chapter examines Warren Buffett's trustworthiness and crisis management during the Salomon Brothers scandal, contrasting his candid approach with conventional legal counsel. It also explores his fundamental investment philosophies as highlighted in Michael Lewis's 'Liar's Poker', emphasizing their continued relevance in modern investing.
IN THIS EPISODE, YOU’LL LEARN:
- 04:02 - How Warren Buffett already read financial statements when he was a kid.
- 12:05 - Why Warren Buffett was sitting behind the counter at the local steakhouse collecting receipts, and how that lead to one of his best investments.
- 24:13 - How a gentleman that counted sheets of toilet paper convinced Warren Buffett to work with him.
- 25:41 - Why Warren Buffett never replaces management in the companies he acquires.
- 27:04 - How Warren Buffett picked the CEO of Salomon Brothers in a simple, yet very orthodox way.
- 41:01 - Ask the Investors: How do you generate ideas for new stock investments?
*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
- Check out our five-page executive summary of Buffett: The Making of an American Capitalist.
- Roger Lowenstein’s book, Buffett: The Making of an American Capitalist – Read reviews of this book.
- Alice Schroeder’s book, The Snowball – Read reviews of this book.
- Preston, Trey & Stig’s tool for picking stock winners and managing our portfolios: TIP Finance Tool.
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