Thomas Russo – All About Berkshire Hathaway (Capital Allocators, EP.89)

Tom Russo is the Managing Member of Gardner Russo & Gardner. Tom and I sat down in Episode 16 to discuss his background and investment strategy in what was one of the most popular episodes on the show. He oversees $13B in a global value strategy focused on family-operated public companies.

Our second conversation is a two-part episode for this week and next. First, we talk solely about his holding in Berkshire Hathaway, a stock he first bought 38 years ago.

The conversation covers Tom's initial purchase of Berkshire, company meetings, reaffirming his thesis and search for disconfirming information, the genius of Warren Buffett, research on Mitek, cross-fertilization of Berkshire's CEOs, the subdivisions of insurance, public market investments and regulated businesses, valuation, compensation, Berkshire after Warren, and Tom's sell discipline.

We close with a teaser for next week's episode, as Tom reveals the name of the first significant stock he's bought for his clients in eight years.

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