Market Valuations and Investment Strategies

Stig has invited legend investor Chris Bloomstran from Semper Augustus to teach us how to value Berkshire Hathaway on today's show. Semper Augustus has an outstanding track record with a compounded annual growth rate of 11.4% on equities since its fund's inception on 2/28/1999, compared to 8.2% for the S&P 500.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:45 - The importance of being trusted for Warren Buffett and Chris Bloomstran

18:20 - Why you may want to own a 10-year treasury over the S&P 500 over the next decade 

20:28 - How to estimate whether you’re in a secular peak

27:43 - How active Berkshire should be on the boards of portfolio companies

36:03 - How to take a deep dive into Berkshire Hathaway’s culture and business model

43:53 - What the intrinsic value of Berkshire Hathaway is, and what type of return you can get moving forward

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

• Join Clay and a select group of passionate value investors for a retreat in Big Sky, Montana. Learn more here.
• Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
• Stig’s 2024 interview with Chris Bloomstran about Berkshire Hathaway. 
• Stig’s 2023 interview with Chris Bloomstran about Berkshire Hathaway. 
• Stig’s 2022 masterclass with Chris Bloomstran on valuing Berkshire Hathaway. 
• Chris Bloomstran’s website. 
• Read Chris Bloomstran’s annual letters.
• Buffett resource on CNBC. 
• Alex Morris’ book, Buffett and Munger Unscripted – read reviews of the book.
• Check out all the books mentioned and discussed in our podcast episodes here.
• Enjoy ad-free episodes when you subscribe to our Premium Feed.

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