Yet Another Value Podcast

Alex Morris on what you can learn in his new book: "Buffett and Munger Unscripted"

Jan 21, 2025

Alex Morris, author of "Buffett and Munger Unscripted" and an investment analyst, shares his insights on Berkshire Hathaway's meetings and the evolution of investment strategies. He dives into the ethical considerations of investing, especially in industries like casinos. Morris discusses the notable absence of Berkshire in certain sectors, like media and minerals, and evaluates Nike's brand evolution. He sheds light on how Buffett's perspectives have shifted over the years and the vulnerability of the banking industry in today's market.

01:11:36

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Episode guests

Alex Morris

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Episode notes

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Quick takeaways

Alex Morris's motivation for writing 'Buffett and Munger Unscripted' arose from a desire to share accessible investment wisdom following Berkshire Hathaway's annual meetings.

The enduring investment philosophies of Buffett and Munger highlight the significance of aligning managerial incentives with shareholder interests while adapting to market changes.

The evolution of Berkshire Hathaway's meetings demonstrates a shift from intimate discussions to broader life lessons, reflecting changes in audience expectations and communication strategies.

Deep dives

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Intro

2min

Insights and Ethics in Investment Strategies

19min

Evolution of Investment Discussions Over the Decades

2min

The Evolution of Buffett and Nike's Brand Strategy

17min

Navigating Investment Gaps and Strategies

24min

Understanding the Vulnerability of Banking and the Evolution of Sporting Goods

2min

Retail Resilience in a Post-COVID World

6min

Alex Morris, Author of "Buffett and Munger Unscripted" and Owner & Analyst at TSOH Investment Research, joins the podcast to discuss his first book, "Buffett and Munger Unscripted."

You can buy your copy of Alex's new book, "Buffett and Munger Unscripted" here: https://amzn.to/4asUWNi

Chapters:

[0:00] Introduction + Episode sponsor: Fintool

[3:03] Why Alex decided to write "Buffett and Munger Unscripted"

[7:53] When did the repetition build up (speaking to organization of the book)

[10:23] Incentives and ethical guardrails

[21:10] Biggest differences about Buffett over the last 20-30 years

[29:53] Nike

[39:14] Is there an industry that Berkshire hasn't really invested in after all of Alex's research

[41:56] Wal-Mart and Costco

[45:27] Predictability and cyclical businesses

[49:11] Alex's view of Buffett's thoughts on the market these days

[51:55] Parallels between Berkshire to Markel

[55:42] Banks

[1:04:22] Andrew's thoughts on Academy Sports + Outdoors, and the space in general

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