Lessons From Warren Buffett’s See’s Candies Acquisition

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Lessons From Warren Buffett’s See’s Candies Acquisition

“Let’s take a look at what kind of businesses turn us on. And while we’re at it, let’s also discuss what we wish to avoid.” In his 2007 Berkshire Hathaway annual letter, Warren Buffett provides us with a primer on what to look for in businesses, and on what to avoid. He also does something rare – he gives us a detailed post-mortem analysis of his 1972 purchase of See’s Candies. Both have a lot of gems of wisdom for us to enjoy and learn from.

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Three Questions Warren Buffett Won’t Answer At The 2022 Berkshire Hathaway Annual Meeting

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Three Questions Warren Buffett Won’t Answer At The 2022 Berkshire Hathaway Annual Meeting

My first Berkshire Hathaway Annual Meeting was in 2002. I was travelling to Omaha with the Fidelity team of 20+ investors. The new analysts had an important job – get up super early to get a spot in line. That way the Portfolio Managers and Senior Analysts could sleep in, and still get a spot upfront. I thought I was ready. I was not.

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Warren Buffett’s Big Investing Mistake

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Warren Buffett’s Big Investing Mistake

Warren Buffett is the world’s most successful investor. Yet, even the best make mistakes, as any good investor knows. Analyzing Warren Buffett’s mistakes in depth can make you a better investor. In the just-released 2020 Berkshire Hathaway annual letter, Buffett briefly tells us about a recent, big, mistake: Precision Castparts (“PCC”). Let’s dive in and see what we can learn.

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3 Insights From Warren Buffett at Berkshire Hathaway’s 2020 Annual Meeting

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3 Insights From Warren Buffett at Berkshire Hathaway’s 2020 Annual Meeting

Warren Buffett is idolized by many as the world’s greatest investor of all time. This is well-deserved based on the amazing amount of wealth that he has created for himself and others over decades. Unfortunately, if you were expecting that Buffett’s wisdom at Berkshire Hathaway’s 2020 annual meeting was going to yield easy answers about the current investment landscape, you are likely to be disappointed.

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What You Can Learn From How Warren Buffett’s Investment Process Evolved

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What You Can Learn From How Warren Buffett’s Investment Process Evolved

When I was at a group dinner with Warren Buffett 16 years ago, I asked him: what do you look for when you evaluate a stock? He answered: First he decides whether he can roughly estimate the business’s key economic characteristics 5–10 years out. If he can’t then he eliminates it from consideration right then and there.

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Why You Would Not Have Invested With Warren Buffett

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Why You Would Not Have Invested With Warren Buffett

Before becoming Chairman and CEO of Berkshire Hathaway, Warren Buffett built an amazing track record compounding capital in a small partnership in the 1950s and 1960s. Chances are you would not have invested with him: his partnership did not appear conventional and he did not invest conventionally.

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10 Insights from the 2018 Berkshire Hathaway Weekend

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10 Insights from the 2018 Berkshire Hathaway Weekend

Listening to Warren Buffett, Charlie Munger and other smart investors over the course of the weekend surrounding the Berkshire Hathaway meeting in Omaha is always informative. This year was marked by the usually laconic Charlie Munger, known for his typical “I have nothing to add” answer, answering many questions in depth. Below I examine my 10 insights from this year’s trip, which are a combination of new ideas and helpful reminders about those from the past that are still important today.

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