We Study Billionaires - The Investor’s Podcast Network

TIP443: Buffett's Biggest Blunders w/ David Kass

Apr 29, 2022

Trey Lockerbie chats with Dr. David Kass, an economist and professor at the University of Maryland, known for his expertise on Warren Buffett. They dive into Buffett's emotional pitfalls, notably his costly acquisition of Berkshire Hathaway and notorious missteps like overpaying for Precision Castparts. Dr. Kass reveals how investing in insurance could have earned Buffett billions more and discusses his missed opportunities with tech giants like Google and Amazon. Listeners gain fascinating insights into the emotional and strategic aspects of investing.

55:34

Episode guests

David Kass

AI Chapters

Episode notes

Intro

5min

Journey into Value Investing

7min

Lessons from Investment Blunders

13min

Investment Insights and Missteps

10min

Buffett's Insights and Business Trust

4min

Examining a Costly Acquisition: The Precision Cast Parts Debacle

3min

Warren Buffett's Lessons on Investment and Leadership

18min

Trey Lockerbie chats with Dr. David Kass, who is a Ph.D. economist and professor at the University of Maryland. They discuss how Buffett bought Berkshire after letting his emotions get the best of him and why it was originally a huge mistake, his overpayment for Precision Castparts, and much more!

IN THIS EPISODE, YOU'LL LEARN:

09:47 - The story of how Buffett bought Berkshire after letting his emotions get the best of him and why it was originally a huge mistake.
15:04 - How he could have made hundreds of billions more had he simply invested in insurance.
20:49 - His position in Conocophillips that resulted in a loss and how even through all of that, 1 single dollar invested with Buffett in 1965 would now be worth $3.65M
23:00 - Why buying Dexter Shoes was, in Buffett's words, the worst purchase he ever made.
30:42- How he missed out on Google, Amazon, and others
41:29 - His overpayment for Precision Castparts.
And a whole lot more!

*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
David’s Blog on Warren Buffett
David Kass Twitter.
Supermoney Book.
Trey Lockerbie Twitter.

NEW TO THE SHOW?

Check out our We Study Billionaires Starter Packs.
Browse through all our episodes (complete with transcripts) here.
Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.
Enjoy exclusive perks from our favorite Apps and Services.
Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!

Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Learn more about your ad choices. Visit megaphone.fm/adchoices

Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Remember Everything You Learn from Podcasts

Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.