The Digest #173
Berkshire's Q3 earnings, Munger on retailing, SBF's strange philosophy, Rob Henderson on reading, Howard Marks on a full return world, Morgan Housel on writing that sells, Cities on Mars ...
The Digest #172
Pilot's Founders vs. Berkshire, I Bonds, Ted Weschler interview transcript, Expanding circles of competence, Damodaran on Tesla, Thompson on AI, Charlie Munger, Chris Davis ...
Costco’s Director Compensation
Charlie Munger's service on Costco's board makes the retailer's director compensation approach a potential model for Berkshire Hathaway in the future ...
The Digest #166
The media landscape, Dollar General's meltdown, The written word, Damodaran on Instacart, The human condition, Herb Kelleher, Merger arbitrage, and more ...
Warren Buffett on Inflation — Part 3
During periods of high inflation, capital-light businesses have important advantages. See's Candies during the Great Inflation of the 1970s and early 1980s is a perfect case study ...
The Digest #164
Howard Marks on intelligent risks, Li Lu's amazing life story, Damodaran on streaming, Thompson on Charter vs. Disney, Taleb's favorite literary works, Buffett's Japanese investments, and more ...
The Berkshire Hathaway MBA
Studying Warren Buffett, Charlie Munger, and Berkshire Hathaway's history can provide a level of fluency in business and investing rivaling a costly MBA degree ...
A Very Strange Public Offering
The story of the initial offering of Berkshire Hathaway's Class B stock is an excellent example of Warren Buffett's unconventional approach toward his business partners ...
The Digest #157
Munger on windowless dorms, Damodaran on country risk, Disney's brand, Working without working, The comfort crisis, Fairfax, Markel, Vision Pro's breakthrough, iPhone hacks ...
The Use of Letters
As Mark Twain said, a person who won't read has no real advantage over a person who can't read. It makes no sense to refuse to learn vicariously ...
Berkshire Hathaway’s Q1 2023 Results
Operating earnings have been on an upward trend as higher interest rates boost investment income and Berkshire's subsidiaries turn in a solid performance ...
Berkshire Hathaway’s 2023 Q&A Session
Warren Buffett and Charlie Munger answer nearly fifty questions in a five hour marathon session prior to Berkshire Hathaway's 2023 annual meeting ...
Berkshire Hathaway Meeting Links
This post contains a compilation of articles published over the past year about Berkshire Hathaway, Warren Buffett, and Charlie Munger ...
Berkshire Hathaway Annual Meeting Questions
I have submitted questions for the 2023 Berkshire Hathaway annual meeting on the following topics: Voting control in 2050, Repurchase taxes, and Apple's exposure to China ...
The China Question
Geopolitical tensions are rising, calling into question longstanding deep economic ties between the United States and China ...
Falling in Love With Investments
It makes no sense to engage in short term relationships with investments, but it is also hazardous to fall in love with a company or its management ...
The Perils of Blind Coat Tailing
13F filings can be a minefield. It is tempting to emulate investors who we admire but it is unwise to blindly follow any investor into a stock ...
Daily Journal Annual Meeting Questions
Daily Journal Corporation’s 2023 annual meeting of shareholders will take place on February 15. I submitted three questions to Becky Quick for consideration ...