Reflections on Corporate Growth and Community at Berkshire Hathaway

This chapter discusses personal insights from working at U.S. Steel and the unexpected challenges that arose leading to its closure. It underscores the significance of understanding basic business fundamentals and celebrates the community spirit of Berkshire Hathaway shareholders during their engaging annual meeting.

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Episode notes

In this episode, Clay Finck presents his favorite clips from the 2023 Berkshire Hathaway annual shareholder meeting, featuring insightful responses from Buffett and Munger during the marathon Q&A session, along with his own thoughts on their answers.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro.

05:30 - Buffett and Munger’s thoughts on the commercial real estate.

09:37 - Why value investors must evolve to the increasingly competitive world of investing.

17:36 - How Buffett allocates capital to balance profits versus building out a competitive moat.

33:04 - Munger’s stance on position sizing.

38:16 - Buffett’s updated thoughts on Taiwan Semiconductor which is a business Berkshire entered and fully exited over a matter of months.

40:09 - Buffett’s thoughts on the US Dollar’s status as the world’s reserve currency.

54:40 - Common mistakes to avoid to live a good life.

01:01:21 - Buffett and Munger’s most recent thoughts on Occidental.

01:12:23 - How Berkshire can continue to attract high quality subsidiary managers.

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

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