Value Hive Podcast Investor Audibles: Hosking Partners May 2025 Letter
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May 30, 2025 Dive into the fascinating world of capital cycles and long-term investing insights from Hosking Partners' May 2025 letter. Explore how Warren Buffett's strategies have shaped successful investment approaches. Discover the importance of replacement value in guiding investment decisions with examples from companies like Coupang. Learn about dynamic capital cycle investing, which encourages high-performing investments. This episode is packed with tips for navigating the market while emphasizing the significance of strong management and supply dynamics!
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Ignore Quarterly Earnings Game
- Ignore quarterly earnings manipulations when investing.
- Focus instead on a company's return on invested capital and competitive dynamics over years.
Buffett's Durable AMEX Investment
- Buffett's American Express stake grew 33x over 30 years through major economic cycles.
- He ignored short-term market noise focusing on durable competitive advantages and high returns on capital.
Find Exceptional Capital Allocators
- Find exceptional management teams who wisely allocate capital over cycles.
- Trust these "400 hitters" to navigate industry ups and downs rather than timing trades.
