2024-09-22
1 小时 17 分钟You're listening to tip.
Lately I've been passionate about learning about Warren Buffett's early days.
Of course, his current success has many lessons, but I think his past is where I think the average investor can really best relate to him.
The reason is simple.
He invested much smaller sums of capital and was much more nimble in what he could invest in.
And he really used this to his advantage.
If you compare the Buffett from the Buffett partnership days with the Buffett from today, the overarching principles remain the same.
However, I think very specific differences are important to key in on and understand at a higher level.
The biggest one is his holding periods.
He just wasn't a long term set it and forget it type of investor at this time.
He was focused on lower quality businesses that were trading well below intrinsic value.
He knew that he wouldn't hold onto his ideas for long because there just weren't that many returns from holding once the price and value gap closed.
So onto the next opportunity he would go.
In today's episode, we'll go over why he invested differently with smaller sums, the four buckets of investments he chose to invest his capital into, how he aligned himself with shareholders to increase value while taking part in any potential downside Warren's specific views on performance and how he thought it ought to be measured and why investing principles should not be thrown away like garbage just because they go through periods of underperformance.
You won't want to miss today's episode if you want to learn more about the highest returning portion of Warren Buffett's investing career.
Now let's get right into this week's episode.
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