Buffett’s Annual Letters
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My Notes – 2017 BRK Letter
At Berkshire what counts most are increases in our normalized per-share earning power. That metric is what Charlie Munger, my long-time partner, and I focus on – and we hope that you do, too. Acquisitions: There are four building blocks that add value to Berkshire: (1) sizable stand-alone acquisitions; (2) bolt-on acquisitions that fit with Continue reading
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Warren Buffett on market valuations and much more
[On current market valuations] Well, valuations make sense with interest rates where they are. I mean, in the end you measure laying out money for an asset in relation to what you are going to get back, and the number one yard stick is U.S. governments. When you get 2.30 on the ten-year, I think Continue reading
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My Notes – 2016 BRK Letter
My Notes – CNBC interview with Warren Buffett: – American dynamism my theme for decades – US always comes back and wins – I don’t know anyone who can time markets – People should buy stock consistently over time – Interest rates act like a gravity on valuation – We are not in a bubble Continue reading
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My Notes – Investment advice for non-professionals
Here are the investing lessons for common investors from Buffett’s Annual Letters. My Notes – Investment advice for non-professionals The “what” of investing: American business has done wonderfully over time and will continue to do so. The Dow Jones industrial index advanced from 66 to 11,497, paying a rising stream of dividends. The goal of Continue reading
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My Notes – Buffett’s Best Investment
Here are the investing lessons for common investors from Buffett’s Annual Letters. My Notes – Buffett’s Best Investment Of all the investments he ever made, buying Ben Graham’s book “The Intelligent Investor” was the best. Buffett said, the key points were laid out in Chapters 8 and 20. These points guide his investing decisions today. Continue reading
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My Notes – The Four Filters
My Notes – Four Filters Buffett and Munger look for businesses 1) that they can understand 2) with sustainable competitive advantage 3) operated by able and honest people; and 4) available at a very attractive price Because of both market conditions and Berkshire’s size, they now substitute ‘an attractive price’ for ‘a very attractive price.’ Continue reading
My Value Picks 