During their recent episode, Taylor, Carlisle, and Colin King discussed: Return on Headache: The Hidden Metric in Small Business Investing How to Spot a Good Private Acquisition: Paying Half of Revenue and Scaling Smart Why the World Needs a Little Bit of Crazy: Entrepreneurs, Elon Musk, and Creation Engineers vs. … Read More
Mohnish Pabrai: How To Identify Bullet-Proof Businesses
Capitalism isn’t just competitive—it’s downright ruthless. Most businesses don’t just struggle to turn a profit; they vanish entirely within a few decades. As Mohnish Pabrai explained in this interview, “Most businesses are not going to be around… forget even making a lot of money or not making money—they’re not even … Read More
Mohnish Pabrai – Why Cloning is the Ultimate Investing Strategy
In a world obsessed with originality, there’s a widely misunderstood yet powerful tool that many overlook: cloning. While innovation is celebrated, cloning—replicating a successful model and executing it well—has built some of the greatest businesses in history. Yet, for some reason, many people resist it. As Mohnish Pabrai put it … Read More
Lessons from Warren Buffett: Missing Amazon and Microsoft
In this interview with Andy Serwer, Warren Buffett reflects on his admiration for Jeff Bezos and his remarkable execution of Amazon’s vision, acknowledging that he didn’t foresee its success. He admits to missing investment opportunities like Microsoft but doesn’t regret them as they were outside his circle of competence. Instead, … Read More
Warren Buffett: Find Businesses That Can Thrive With Less Ongoing Effort
During the 1995 Berkshire Hathaway Annual Meeting, Warren Buffett explained the difference between businesses that require one-time smart decisions and those needing continuous smart management. Retailing, he notes, demands constant adaptability since competitors quickly mimic successful strategies. In contrast, some businesses benefit from structural advantages, allowing them to thrive with … Read More
Why REITs Can’t Compound Like Berkshire
During their recent episode, Taylor, Carlisle, and Bill Lenehan discussed Why REITs Can’t Compound Like Berkshire. Here’s an excerpt from the episode: Jake: Yeah. Do you have any– Is there any reticence or– I don’t want to say regret, that’s not the right word. But the fact that the REIT … Read More
Warren Buffett: Why Acquisition Departments Don’t Work
During the 2019 Berkshire Hathaway Annual Meeting, Warren Buffett discusses Berkshire Hathaway’s approach to acquisitions, particularly in Europe, inspired by Eitan Wertheimer after the ISCAR purchase. Buffett emphasizes targeting sizable, well-established businesses, ideally family-owned for decades, that align with Berkshire’s philosophy. He avoids auctions or deals driven solely by maximizing … Read More