Tag Archives: berkshire hathaway

EP27 Buffett’s Views on Good Management, External Influence, Saloman Brothers Question by Bill Ackman



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This episode covers Buffett’s views on

  • How to identify good management teams for your investments
  • How to deal with the investment analysis by others
  • Buffett’s investment in Saloman Brothers (asked by Bill Ackman)

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1994 Berkshire Hathaway Annual Meeting: https://www.youtube.com/watch?v=fjXZbW8ALRA


EP26 Buffett’s Views on Derivatives, Intrinsic Value (cash flow, discount rate), Insurance Business



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This episode covers Buffett’s views on

  • Use of derivatives
  • Intrinsic value calculation in terms of cash flow and discount rate
  • Intrinsic value calculation for insurance business

Podcast Website: http://valueinvesting.blubrry.net/

1994 Berkshire Hathaway Annual Meeting: https://www.youtube.com/watch?v=fjXZbW8ALRA

 


EP12 Owner Earnings By Warren Buffett



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Warren Buffett defined the earnings called “Owner Earnings” that is more relevant to the valuation of a company than the reported earnings on the income statement.  The owner earnings can be calculated by adjusting the reported accounting earnings in the following ways:

Owner Earnings = (a) Reported earnings + (b) depreciation, depletion, amortization and certain other non-cash charges – (c) the average annual amount of capitalized expenditures for plant and equipment

= cash flow from operating activities – capital expenditures

Podcast Website: http://valueinvesting.blubrry.net/

Reference Documents: 1986 Berkshire Hathaway Shareholder Letter


EP11 Mr. Market By Warren Buffett



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This episode covers the concept called Mr. Market that teaches how you can be prepared with short-term stock price fluctuations.  It is a very simple concept to understand, but it is not an easy concept to implement in real life if you are an emotional person and are attached to the money invested in the stock market.  Remember that Mr. Market is there to serve you, not to guide you.

Podcast Website: http://valueinvesting.blubrry.net/

Reference Documents: 1987 Berkshire Shareholder Letter; 1985 Berkshire Shareholder Letter


EP10 Warren Buffett’s Views on Boards’ Roles



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This episode covers Warren Buffett’s views on why “independent” directors may not be best positioned to represent a majority of shareholder under the current corporate system, and how the board of directors should perform their job on behalf of shareholders.  Warren Buffett provides his own criteria to select the best directors who can truly be independent and are willing to challenge a forceful CEO.

Podcast Website: http://valueinvesting.blubrry.net/

Reference Documents: 1993 Berkshire Shareholder Letter; 2002 Berkshire Shareholder Letter; 2004 Berkshire Shareholder Letter

 


EP9 (Part 2) Business Principles (Owner’s Manual) of Warren Buffett at Berkshire Hathaway



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Followed by the EP8 which covered the first 7 business principles, this episode covers the rest of 8 business principles in the owner’s manual written by Warren Buffett for Berkshire Hathaway shareholders. The purpose of the manual is to explain Berkshire’s economic principles of operation and the manual is included in every annual letter for new shareholders as a reference to understand the important principles behind how Buffett and Munger run the company.

Podcast Website: http://valueinvesting.blubrry.net/

Owner’s Manual: http://www.berkshirehathaway.com/ownman.pdf


EP8 (Part 1) Business Principles (Owner’s Manual) of Warren Buffett at Berkshire Hathaway



Support this podcast through your donation: https://paypal.me/valueinvesting

This episode covers the first 7 business principles of the owner’s manual written by Warren Buffett for Berkshire Hathaway shareholders. The purpose of the manual is to explain Berkshire’s economic principles of operation and the manual is included in every annual letter for new shareholders as a reference to understand the important principles behind how Buffett and Munger run the company. The rest of the 8 principles will be covered in the next episode.

Podcast Website: http://valueinvesting.blubrry.net/

Owner’s Manual: http://www.berkshirehathaway.com/ownman.pdf


EP7 Basics of Insurance Business and Warren Buffett’s Investment on GEIGO



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In this episode, I discuss the following two topics.
1) Basics of insurance business in terms of how insurance companies make money and why Buffett likes them
2) Warren Buffett’s investment on an insurance company called GEIGO

Podcast Website: http://valueinvesting.blubrry.net/  Continue reading EP7 Basics of Insurance Business and Warren Buffett’s Investment on GEIGO


EP6 Why Warren Buffett Closed Down His Successful Investment Partnership



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In this episode, I discuss the following two topics in Buffett’s investment partnership letters.
1) 1967 letter on why Buffett thinks that his past 10-year outstanding performance would not be replicated in the future
2) 1969 letter on the decision to liquidate Buffett’s investment partnership despite the incredibly successful past performance

Podcast Website: http://valueinvesting.blubrry.net/


EP5 Warren Buffett’s Views on Institutional Investors’ Underperformance and Diversification



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In this episode, I discuss the following two topics in Buffett’s early investment partnership letters.
1) Buffett’s views on why institutional investors do not perform as well as the general market
2) Why Buffett thinks that a conventional diversification strategy does not make sense for his investment portfolio

Podcast Website: http://valueinvesting.blubrry.net/