University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting
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University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting
Value is what a business is worth. Price is what you have to pay to get it.
Daniel Pecaut • University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting
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
Keynes said, “I would rather be vaguely right than precisely wrong.”
Daniel Pecaut • University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting
Intrinsic Business Value (IBV): The Annual Question This is the essence of Buffett’s value approach. Buffett said to determine the IBV of an asset, simply take the present value of the net cash flows from here to eternity, based on current bond rates.