During his recent interview with Richard Hsu, Guy Spier explains how Warren Buffett’s is constantly updating his investing models. Here’s an excerpt from the interview:
Spier: Because there’s a lot of problems that go away when you have permanent capital.
I think that the story of my investing career has in part been Guy Spier falls in love with Ben Graham and the Intelligent Investor and this idea of buying net nets.
And has been catching up to Warren’s evolving thought processes because he’s a learning machine, and he’s constantly updating his models and views of the world.
Such that I still hadn’t caught up to Warren when he started buying Apple, however long ago it was, and I was still in the mindset that said, well Apple’s a tech company, why on Earth?
I’m in the mould of Warren Buffett, people like me and Warren Buffett don’t buy Apple until Warren Buffett goes and buys Apple, and I had to go and do a whole bunch of thinking about why it might be the case that Warren Buffett had bought Apple and what does that mean for me.
You can watch the entire discussion here:
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