The Intrinsic Value Podcast - The Investor’s Podcast Network

MI358: The Essays of Warren Buffett w/ Shawn O'Malley

9 snips
Jul 1, 2024
Guest
Shawn O'Malley
Shawn O'Malley discusses insights from Warren Buffett's Essays including Munger's influence, Berkshire's success factors, valuation principles, Buffett's views on gold and index funds. They explore risk in investing, company valuation, Buffett's no-dividend policy, and his character traits that stand out.
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ANECDOTE

Berkshire Hathaway Purchase

  • Buffett bought Berkshire Hathaway out of spite, which he later called a "monumentally stupid" decision.
  • He overpaid for a struggling textile company due to a petty disagreement over a small price difference.
ADVICE

Munger's Investing Advice

  • Buy wonderful businesses at fair prices, not fair businesses at wonderful prices.
  • Focus on companies you can hold for the long term.
INSIGHT

Berkshire's Success Factors

  • Berkshire Hathaway's success stems from avoiding permanent capital loss and the "ABCs of business decay": arrogance, bureaucracy, and complacency.
  • Buffett prioritizes long-term value creation over short-term gains and fosters a unique corporate culture focused on trust and win-win situations.
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