We Study Billionaires - The Investor’s Podcast Network TIP436: Is the Buffett Partnership Strategy Still Applicable Today? W/ Zack Oliva
Apr 3, 2022
In this conversation, Zack Oliva, an attorney and lifelong investor running a 30-person law practice in Houston, shares insights on applying Warren Buffett's 1950s partnership strategies today. They discuss the intricacies of Buffett's early methodology and the relevance of 'net-nets' in a modern context. Zack emphasizes the importance of developing one's unique investment style while mastering foundational principles. He also explores the art of value investing, individual accountability, and the need for patience and mindset in achieving long-term success.
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Early Buffett Influence
- Zack Oliva's father gifted him Berkshire Hathaway B shares after college graduation.
- This early exposure to investing made money fun and instilled a strong work ethic, influenced by Buffett's example.
Buffett's Early Playbook
- Buffett's early partnership strategy involved net-nets and workouts (special situations), adapting allocation based on market conditions.
- Net-nets offer quicker returns, while workouts require more time and may provide greater intellectual stimulation.
Finding Net-Nets Today
- Net-nets can still be found in the micro-cap space due to limited institutional participation.
- Look beyond the narrative and assess whether a company's struggles are as severe as the market perceives.
