Berkshire Hathaway: The Incomparable Compounder - [Business Breakdowns, EP. 63]
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Berkshire Hathaway: The Incomparable Compounder - [Business Breakdowns, EP. 63]
Effectively all of Warren Buffett’s financial success can be tied to the financial base he built in his pubescent years and the longevity he maintained in his geriatric years. His skill is investing, but his secret is time.
Morgan Housel • The Psychology of Money: Timeless lessons on wealth, greed, and happiness
He especially assesses a company’s management well beyond conventional number crunching—in particular, the degree to which they are “able, trustworthy, and owner-oriented.” For example, how do they deploy cash? Do they allocate it intelligently on behalf of the owners or do they overcompensate themselves or pursue ego-oriented growth for growth’s s
... See moreCharles T. Munger • Poor Charlie’s Almanack: The Essential Wit and Wisdom of Charles T. Munger
On the Ideal Business Buffett: “Something that costs a penny, sells for a dollar and is habit forming.”
Daniel Pecaut • University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting
Charlie counts preparation, patience, discipline, and objectivity among his most fundamental guiding principles. He will not deviate from these principles, regardless of group dynamics, emotional itches, or popular wisdom that “this time around it’s different.” When faithfully adhered to, these traits result in one of the best-known Munger characte
... See moreCharles T. Munger • Poor Charlie’s Almanack: The Essential Wit and Wisdom of Charles T. Munger
