Saved by Daniel Bakalarz
The Superinvestors of Graham-and-Doddsville
14 more ideas from Buffett and Munger I don’t want to forget:
1. The one thing that has surprised me all my life is how many people with high IQs do massively stupid things.
2. Berkshire was a small business at one time. It just takes time. It is the nature of compound interest. You can't build it in one day, or one week.
3. Unfortunately, Bert... See more
Warren Buffett has said he doesn't do due diligence. This was a statement about Precision Castparts which is one of his largest acquisitions ever. And everybody just ignored that comment, but it was a profound comment. And what he meant by it was that he didn't need to do due diligence. He had been reading every 10-K published by Precision Castpart... See more
Gavin Baker • Security Error | Columbia Business School
The Graham-and-Dodd investor saw a stock as a share of a business, whose value, over time, would correspond to that of the entire enterprise. It is an almost unbelievable fact that Wall Street never asks, “How much is the business selling for?”
Roger Lowenstein • Buffett: The Making of an American Capitalist
“Here is an all-too-brief summary of Buffett’s approach: He looks for what he calls “franchise” companies with strong consumer brands, easily understandable businesses, robust financial health, and near-monopolies in their markets, like H & R Block, Gillette, and the Washington Post Co. Buffett likes to snap up a stock when a scandal, big loss,... See more