Kyle Grieve chats with Lawrence Cunningham about Warren Buffett’s focus on value, Warren’s unique long-term perspective, how the most successful managers utilize self-reflection to help reduce further mistakes, why capital efficiency metrics are so important to the success of a business and its incentive program, a great biological mental model called “security from obscurity” to help identify under the radar businesses, why quality shareholders are so important for public corporations, and a whole lot more!
Lawrence Cunningham’s seminal work was the book The Essays Of Warren Buffett: Lessons for Corporate America. He was a Professor of Corporate Governance for 15 years at George Washington University. He serves on the board of directors for several public businesses such as: Constellation Software, Kelly+Partners Group, and Markel Group. He’s published several other books on quality such as Quality Shareholders, Margin Of Trust, and Quality Investing.
IN THIS EPISODE, YOU’LL LEARN:
00:00 - Intro.
11:29 - Overcoming the challenge of assessing management decision-making.
19:12 - Why personal connections are so underrated in investing.
22:25 - The benefits of incremental innovation and who is doing it well.
33:36 - The role of trust in Berkshire Hathaway.
50:31 - The three different shareholder types and why you should be a quality shareholder.
*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 Kyle and the other community members.
- Check out Quality Investing here.
- Margin Of Trust here.
- Quality Shareholders here.
- The Essays Of Warren Buffett: Lessons For Corporate America here.
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