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49. Tobias Carlisle - What is Money?

Mutiny Investing Podcast

CHAPTER

Buffett's Approach to Ergodicity

An ancient Chinese book talks about preparing yourself for conflict or preparing yourself for very bad things. Buffett would call it compounding over a very long period of time. He looks at the individual companies that he invests in to make sure they have a durable business, good balance sheet and it's run by competent managers who've got reasonably good temperament.

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