Ep 368. Favorite Buffett Lessons, Yield Curve, Inflation, Management Teams, & Matching a Style to Your Personality
Focused Compounding
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The Stock Buy Backs Centv Be Time to Warrant
Oil companies should have been using up their reserves as fast as they could. Most companies don't do that, and so you're going to see this pattern where if a commodity is a syclical,. almost all globel trade commodities are like this. The approach isn't like the way that berkshire runs things with insurance - in years when it's well priced, you write a lot of it. In years where it's not, then you shrink down.
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