In Part II of our Berkshire Hathaway Trilogy (!), we pick up the story with Warren wandering in the woods of Omaha, searching for his life's next chapter after retiring from the professional investing business at the top of his game at age 39. How does he emerge from those woods anew, transforming from Ben Graham's cigar-butt cocoon into the butterfly collector of Berkshire's wonderful businesses? (Spoiler: Charlie Munger.) And how did one rotten-to-the-core business nearly bring it all down — everything he'd ever worked for — in the span of one terrible week? Tune in! 

Sponsors:

Anrok: https://bit.ly/anrokacquired
Statsig: https://bit.ly/acquiredstatsig24
Anthropic: https://bit.ly/acqclaude

More Acquired!:

• Get email updates with hints on next episode and follow-ups from recent episodes
• Join the Slack
• Subscribe to ACQ2
• Merch Store!

© Copyright 2015-2025 ACQ, LLC

The Charlie Munger Playbook is available on our website at https://www.acquired.fm/episodes/berkshire-hathaway-part-ii

Links:

• Chuck Rickershauser's corporate flow chart: (left half) (right half)

 Carve Outs:

• The Sopranos: https://www.hbo.com/the-sopranos
• Macklemore on Armchair Expert: https://armchairexpertpod.com/pods/macklemore