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3min chapter
417- Berkshire Shareholder Meeting
InvestED: The Rule #1 Investing Podcast
The Importance of Subjectivity in Business
Buffett would agree with everything you said, which means we're really just talking a term, a semantic. These are not numbers, these people who run these businesses. You have to have a sense of whether or not they're going to stick with you. That's about experience in meeting business owners and learning who to have confidence in and who not to. To me, what I'm saying is subjectivity is not gone, but it has nothing for me to do with rationality or irrationality.
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