In their Q1 2025 Earnings Release, Berkshire Hathaway reported a sharp year-over-year decline in Q1 2025 net earnings, falling to $4.60 billion from $12.70 billion in Q1 2024. This decline was driven primarily by a $5.0 billion investment loss, compared to a $1.5 billion gain in the prior-year quarter. As … Read More
Warren Buffett: Key Takeaways from the 2025 Berkshire Meeting
At 94 years old, Warren Buffett still has a firm grip on the essence of long-term investing—and life. Speaking to tens of thousands at the 2025 Berkshire Hathaway Annual Meeting, Buffett offered more than just market commentary. He shared his hard-earned knowledge from decades of discipline, trust, and humility. One … Read More
Warren Buffett: Key Takeaways From The 1984 Berkshire Letter
If you’re an investor looking for practical advice that still holds true today, Warren Buffett’s 1984 Berkshire Hathaway letter is packed with insights—and he doesn’t sugarcoat anything. First, Buffett reminds us that “economic gains must be evaluated by comparison with the capital that produces them.” Even though Berkshire’s net worth … Read More
Key Takeaways From The 1989 Berkshire Hathaway Letter
In his 1989 letter, Warren Buffett provided a number of key takeaways for thoughtful, long-term investors. One of the clearest lessons is his obsession with intrinsic value: “What counts, however, is intrinsic value—the figure indicating what all of our constituent businesses are rationally worth.” He explains that value comes down … Read More
Best Takeaways From The 1994 Berkshire Hathaway Letter
Just re-read the 1994 Berkshire Hathaway Annual Letter—Buffett’s full of sharp, clear-eyed takes on investing and leadership. I pulled out a few of the best takeaways. “A fat wallet is the enemy of superior investment results,” he wrote, acknowledging that Berkshire Hathaway’s growing size made it harder to find needle-moving … Read More
Warren Buffett: Why Investors Should Ignore Wall Street Projections
At the 2011 Berkshire Hathaway Annual Meeting, Warren Buffett and Charlie Munger reminded everyone why they’re value investing legends. In their signature no-nonsense style, they talked about what really matters when evaluating a business—and it’s not the slick projections investment bankers love to push. Buffett put it plainly when asked … Read More
Warren Buffett: Why Concentration Beats Diversification
In his 1993 Berkshire Hathaway Annual Letter, Warren Buffett explained how he and Charlie Munger figured out early that trying to make dozens of brilliant investment decisions is a losing battle. As Buffett puts it, “Charlie and I decided long ago that in an investment lifetime, it’s just too hard … Read More
Warren Buffett: The Problem With Today’s ‘Electronic Herd’
The stock market today feels like it’s running on caffeine – jittery, reactive, and prone to wild mood swings. Warren Buffett saw this coming way back in 2007 during the Berkshire Hathaway annual meeting when he described what’s fundamentally changed in markets. “There is an electronic herd of people around … Read More
Jean-Marie Eveillard On Buffett’s Counterintuitive Truth
One of my favorite value investor’s is Jean-Marie Eveillard. In his interview with the Graham & Doddsville Newsletter, Eveillard reminds us that Warren Buffett’s approach isn’t about rigid formulas—it’s about understanding what makes a business truly durable. As Eveillard puts it, Buffett’s genius lies in figuring out the “three, four, … Read More
Warren Buffett: Don’t Wait Around Trying To Time The Perfect Entry
Back in 2009, during a CNBC Town Hall Event with Bill Gates, Warren Buffett sat down and gave some of the most no-nonsense, practical investment advice you’ll ever hear. It was the aftermath of the financial crisis, panic was everywhere, and people didn’t know where to turn. But Buffett, he … Read More
Warren Buffett: Great Investments Go Beyond the Balance Sheet
Investing is a balance between hard data and good judgment. As Warren Buffett put it in his 1967 Partnership Letter, “The evaluation of securities and businesses for investment purposes has always involved a mixture of qualitative and quantitative factors.” On one side, you’ve got the believers in business fundamentals—the ones … Read More
Mohnish Pabrai: Buffett’s Geiger Counter Approach
An often-overlooked aspect of Warren Buffett’s investment philosophy is his ability to pivot when opportunities arise outside the mainstream equity markets. This flexibility is what Mohnish Pabrai calls Buffett’s “Geiger counter approach” in his book – Mosaic: Perspectives on Investing. The Geiger counter metaphor suggests an investor constantly scanning for … Read More
Buffett’s Rule: How Much to Invest in a Single Stock
As investors, we constantly grapple with the question of how much to allocate to each position in our portfolio. When students from Emory’s Goizueta Business School and the McCombs School of Business at UT Austin had the opportunity to visit Warren Buffett for a Q&A session, they gained valuable insights … Read More
Warren Buffett: Investing Without Hurdle Rates
At the 2007 Berkshire Hathaway Annual Meeting, Buffett addressed a topic that confounds many investors: discount rates and hurdle rates. Unlike Wall Street analysts who obsess over these metrics, Buffett made it clear that he and Charlie Munger don’t operate that way. “We don’t formally have discount rates,” he said. … Read More
Why Mohnish Pabrai Puts Nvidia, Tesla & Palantir in the “Too Hard” Pile
Investing is often shrouded in complexity, with analysts and retail investors alike trying to predict the future of companies like Nvidia, Tesla, and Palantir. But according to legendary value investor Mohnish Pabrai, most of these stocks belong in what Warren Buffett calls the “too hard” pile—a concept that could save … Read More
Warren Buffett: The Dangers of Overstimulation
In a world that glorifies hustle, constant activity, and the illusion of productivity, Warren Buffett’s timeless advice to MBA students at the University of Florida in 1998 serves as a stark reminder: sometimes, the best action is inaction. His words, delivered over two decades ago, remain as relevant today as … Read More
Warren Buffett: The Simple Math of Share Repurchases
In his 2022 Berkshire Hathaway Annual Letter, Warren Buffett once again demonstrates his unparalleled ability to distill complex financial concepts into simple, relatable truths. His discussion on share repurchases is a masterclass in clarity and logic, offering a timely reminder of why thoughtful capital allocation matters. As Buffett writes, “The … Read More
Warren Buffett: The Wisdom in Owning Our Mistakes
Mistakes—no one likes to admit them, yet they are inevitable, even for the most successful investors and business leaders. Warren Buffett, in his 2024 Berkshire Hathaway Annual Report, does something that few corporate leaders dare to do: he openly acknowledges his errors. “Sometimes I’ve made mistakes in assessing the future … Read More
Warren Buffett – Top 10 Holdings – Latest 13F
One of the best resources for investors are the publicly available 13F-HR documents that each fund is required to submit to the SEC. These documents allow investors to track their favorite superinvestors, their fund’s current holdings, plus their new buys and sold out positions. We spend a lot of time … Read More
Value Investing Reimagined: How Buffett Moved Beyond Cigar Butt Stocks
Warren Buffett’s approach to investing has evolved significantly over the decades, and his remarks during the 2003 Berkshire Hathaway Annual Meeting offer a glimpse into that transformation. What began as a strict adherence to Benjamin Graham’s quantitative approach to investing eventually shifted toward a more nuanced understanding of business quality—largely … Read More