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: How To Spot Speculative Market Trends
Markets move in cycles, and few people understand these cycles better than Warren Buffett. In his 2006 Berkshire Hathaway Annual Meeting, Buffett offered a timeless lesson on speculation, commodities, and the dangers of chasing price trends. Buffett acknowledged that price movements often begin with legitimate fundamentals. “At the beginning, it’s … Read More
Berkshire’s Role in America’s Future and Financial Strength
In their latest episode of the VALUE: After Hours Podcast, Tobias Carlisle, Jake Taylor, and John Rotonti Jr discussed, Berkshire’s Role in America’s Future and Financial Strength: John: I’ll just say, I think the messaging was similar to 2023. So, in 2023, he actually said, “Berkshire will remain an asset to … 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
Comprehensive Analysis of Warren Buffett’s Q4 2024 Portfolio Changes
Following is a comprehensive analysis of Warren Buffett’s Q4 2024 portfolio changes compared to Q3 2024. Key Observations No major changes in top holdings like Apple (AAPL), American Express (AXP), and Coca-Cola (KO), though some valuation shifts. Financial sector trims, particularly in Bank of America (BAC) and Citigroup (C). New … Read More
Warren Buffett: Why Temperament Matters More Than IQ In Investing
When Warren Buffett spoke at the 2004 Berkshire Hathaway Annual Meeting, he reinforced a simple yet powerful truth: the fundamentals of investing have not changed over time. “There’s nothing different, in my view, about analyzing securities now than there was 50 years ago,” Buffett stated. That statement, coming from one … 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
How Warren Buffett Found 50% Returns – And Why You Still Can
Warren Buffett’s investment track record is legendary, but what’s even more remarkable is how consistent his core philosophy has remained over the decades. At a University of Kansas Q&A in 2005, Buffett shared insights that are as relevant today as they were in his early investing days. Reflecting on his … Read More
Warren Buffett: Why Great Investment Opportunities Will Always Exist
Warren Buffett has long been admired for his ability to simplify the complexities of investing. Unlike many on Wall Street who rely on complex financial models and forecasts, Buffett has built his fortune by understanding something much more fundamental—human behavior. His insights, shared during a 2007 Q&A session at the … Read More
Warren Buffett: The Cinderella Syndrome in Investing
In his 2000 Berkshire Hathaway Annual Letter, Warren Buffett warned investors about the dangers of speculation and irrational exuberance. Reflecting on the market mania of the late 1990s, he wrote: “The line separating investment and speculation, which is never bright and clear, becomes blurred still further when most market participants … Read More
Terry Smith: The Cornerstone of Smart Investing
In his latest interview with the RWH Podcast, renowned investor Terry Smith reinforced a principle that too many investors ignore: return on capital employed (ROCE). As legendary investor Warren Buffett stated in his 1979 annual report, ROCE is “the single most important measure of performance.” Terry Smith, one of today’s … Read More
Which Superinvestors Hold Acquirer’s Multiple Stocks?
Part of the weekly research here at The Acquirer’s Multiple features some of the top picks from our Stock Screeners and some top investors who are holding these same picks in their portfolios. Investors such as Warren Buffett, Joel Greenblatt, Carl Icahn, Prem Watsa, Jeremy Grantham, Seth Klarman, Ray Dalio, and … Read More
Warren Buffett: Why Opportunities Abound In This Changing World
In the 2023 Berkshire Hathaway Annual Meeting, Warren Buffett argues that opportunities in investing remain abundant, driven by others making poor decisions. He reflects on how the world has changed since 1942, noting that new technologies don’t eliminate opportunities. Over the 58 years of running Berkshire Hathaway, he has observed … Read More
Apple: Buffett’s Greatest Trade?
During their recent episode, Taylor, Carlisle, and Alex Morris discussed Apple: Buffett’s Greatest Trade? Here’s an excerpt from the episode: Alex: Yeah. I think the kicker on top of that too is to your point, it was only a handful of years after IBM, which was I think it was … Read More