Benefits of the Conglomerate Structure for Capital Allocation

The Essays of Warren Buffett by Lawrence Cunningham For over 50 years, Warren Buffett has written an annual letter to Berkshire Hathaway's shareholders. Many people set it as a goal to read all of Warren’s shareholder letters chronologically. Which is certainly a fascinating way to see how Berkshire Hathaway evolved year after year. This book is different. It breaks from this chronological order to instead group things Warren has said over the years by topic. So, for instance, you can see his ideas on the importance of culture or the power of incentives holistically — as a single body of work. What I love about this book is the focus on Warren’s ideas. Warren Buffett has built one of the largest conglomerates in history — full I’d incredible companies from See’s Candies to GEICO — from a standing start in 1965. I would argue that if you only have time to study one entrepreneur and investor, that you should study Warren Buffett. There’s no better way to do that than with this book. I know it’s one I’ll be rereading for the rest of my life. YouTube & Substack Watch this episode on YouTube or get new episodes in your inbox with Substack. Notes & Transcript Find my full notes and transcript for this episode at outlieracademy.com/warrens-essays. Chapters (0:00) Chapters coming… Join Outliers Club Listen to episodes a week before they're released publicly. Remove all ads. And get access to exclusive Ask Me Anything sessions, hand-written transcripts, bonus articles, and more. All for just $19/month or $149/year. Join now → Get in Touch Twitter: https://www.twitter.com/danielscrivner Instagram: https://www.instagram.com/danielscrivner/ Email: https://www.danielscrivner.com/contact Learn more about your ad choices. Visit megaphone.fm/adchoices