As every year, I enjoyed watching the Berkshire Hathaway Shareholders Meeting. (Here are my live-tweets.) Here is what I learned this year: Remember that cash has option value Berkshire currently holds $125 billion in cash. They have not spend any of it this year. First, Buffett seems to be quite cautious and conservative at this…
Tag: Value Investing
12 Takeaways From Charlie Munger At The 2020 Daily Journal Annual Meeting
Charlie Munger, business partner of Warren Buffett, recently spoke at the 2020 Daily Journal Annual Meeting. You can watch the full recording here. It turned out to be a great one, full of wisdom and juicy punches. A 96 year-old with a sharp mind and snappy tongue! Takeaways: #1: Take the high road, because it’s…
Real Estate Investing Framework
[This is a talk I recently gave at The Frankfurt Conversation 2019 by MOI Global.] I’d like to summarize some of the lessons I learned from helping to run a buy and hold real estate portfolio: Lesson 1: Find a framework Before my involvement, I had no prior experience in the real estate industry. So…
Investing Lessons from Running a Startup
[This is an edited version of a talk I recently gave at a MOI Global event.] I’d like to share some of the lessons I learned from being a startup founder, and how these can be applied to investing: Lesson 1: I’m a better investor because I was a founder As Warren Buffett famously said:…
“Margin of Safety” as a Principle of Life
In my last post I talked about the key principles of value investing. The one principle I keep using almost daily is the “Margin of Safety” principle. It’s such a powerful concept that I try to apply it almost everywhere in my life, especially to time management. When I have an appointment, I give myself…
The Key Principles of Value Investing
The style of investing that speaks most to me is value investing, as practiced by Warren Buffett and Benjamin Graham. I’m often asked: “What is value investing exactly?” Here is my understanding of the core principles: Have more purchasing power in the futureThe goal of all investing is laying out money today, so that you…
What I Learned at Warren Buffett’s 2019 Berkshire Hathaway Shareholders Meeting: Plus A Complete Guide on How to Attend
It took me 11 years after becoming a Warren Buffett enthusiast to finally attend my first Berkshire Hathaway Annual Meeting in Omaha, Nebraska. Here are my notes and my guide for first-time attenders. Key Learnings from 2019 Meeting Write down your thesisBefore you buy a stock, write down: “I’m buying this company for [insert market…
6 Key Takeaways from Charlie Munger’s 2019 Daily Journal Annual Meeting
Charlie Munger, business partner of Warren Buffett, recently spoke at the 2019 Daily Journal Annual Meeting. You can watch the full recording here. Here are my key takeaways: #1: Fish where the fish areFor Charlie, that means China. High-quality companies in China are currently available for cheaper prices than similar companies in the USA. #2:…
Deferred gratification
Recently I watched this Q&A with Charlie Munger. Pure wisdom, and two hours very well spent. He talked about a key principle of (value) investing: Deferred gratification We live in a world of instant gratification. It’s very hard to get rich if you eat your seeds, instead of planting them. That’s what makes value investors…
Building a compounding engine
Ever since reading The Intelligent Investor many years ago, I subscribe to the “value investing” school of thought. It boils down to buying undervalued companies and being a long-term investor. What Has Worked In Investing (PDF) is a great start if you are new to the concept. Here is what I learned so far: While learning…