CategoryBenjamin Graham

10 Lessons from the Berkshire Hathaway Annual Meeting

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 1. “All you had to do was figure that America was going to do well overtime.” – Buffett Buffett kicked off the meeting by providing the audience with “a perspective on how you might think about investing.” The entire audience leaned in. Isn’t this why we all traveled to Omaha? On March 11, 1942, young Warren Buffett made his first stock purchase. He was eleven years old. Warren held up a copy of the front page of the New York Times that day.  It was filled with bad news...

The 8 Best CEOs from the Past 50 Years

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In the 2012 Berkshire Hathaway Letter to Shareholders, Warren Buffett recommended the book The Outsiders, by William Thorndike, calling it “an outstanding book about CEOs who excelled at capital allocation.” It tells the story of eight unconventional CEOs who managed to outperform the S&P 500 by over twenty times. How did they do it? It wasn’t through charismatic leadership – they were not cheerleaders or marketers. In fact, they rarely landed on the front page of a...

Charlie Munger on Bitcoin and Second-Order Thinking

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Charlie Munger turned 94 this year. He grew up in Omaha, Nebraska during the Great Depression. Through hard work, continuous learning, persistence, and generally avoiding stupidity, Munger has become one of the wealthiest individuals on the planet. Warren Buffett looks to Munger for advice. He’s literally seen it all. So I find it fascinating that people are clamoring for his opinion on Bitcoin. In a recent interview he offered this response: I think it’s perfectly asinine to even pause...

To Make Better Decisions, Think Independently

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Photo by Rachele Caretti, Licensed under CC by 2.0 One of the qualities shared by great decision makers is the rare ability to disregard the opinions of others and think for themselves. There is a strong gravitational pull to conform to the conventional wisdom. If you’re looking to avoid accountability or even regret (which is a powerful force in decision making), then it’s much easier to agree with the group as opposed to doing the research and analysis to make your own determination. It’s...

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