Buffett and Munger Unscripted: Three Decades of Investment and Business Insights from the Berkshire Hathaway Annual Shareholder Meetings

Description

For decades, thousands of people have gathered in Omaha, Nebraska for the Berkshire Hathaway AGM, and quizzed Warren Buffett and Charlie Munger on everything from the psychology of successful investors to the future of Coca-Cola and Apple. But unless you attended, for decades you only had access to what people remembered and reported back from Omaha. In 2018, Berkshire released the archives of the annual meetings going back to 1994. Alex Morris―an equities analyst and financial writer at the TSOH Investment Research Service―watched hundreds of hours of video from these annual meetings (as well as the six AGMs held since 2018), covering more than 1,700 questions asked by shareholders over the past 31 years. He then gathered, organized and edited the most interesting material into a comprehensive and accessible form. Buffett and Munger Unscripted is the result. From the art of intelligent capital allocation to the best ways to judge and compensate management, from understanding the nature of markets to embracing the power of long-term time horizons, this is a book with compelling insights on every page. In addition to collecting many famous quotes in their original context, it is a deep treasure trove of profound insights on all aspects of investing and business. Discover the importance of avoiding difficult decisions, the first question you should ask on a potential new investment, how to recover from unsuccessful investments, the importance of finding the right owners to partner with, Buffett and Munger’s book recommendations―and much more. The perfect companion to The Essays of Warren Buffett: Lessons for Corporate America and Poor Charlie’s Almanack , Buffett and Munger Unscripted belongs on the bookshelf of everyone interested in the keys to success in business and investing. Note: Alex will donate 50% of his net proceeds from "Unscripted" to GLIDE, a charitable organization that Warren Buffett has supported for years. While his philanthropic endeavors are not the focus of this book, that is another part of Warren’s life where he has been a role model. Review: Learn to be a better investor - Warren Buffett used to be on CNBC regularly, 2 to 3 times per year. I watched EVERY time. I am convinced that those interviews made me a much better investor. When CNBC released every Berkshire meeting, I spent a lot of time watching, they're excellent, you can learn, re-watch and get smarter about investing, smarter about Berkshire Hathaway. Watching video is great, it's like you're in class. Alex takes this a step further with Unscripted. It is organized perfectly. If you want to learn about how advantaged BH Energy is, it is in the book. If you want to learn about GEICO it's in the book. Basically all the relevant comments that Buffett and Munger have uttered, its in the book. One may say, 'it's all on the internet already..'. It is. But reading it further pounds it in to your head. If you like an idea, Alex time stamps where you can find it so you can read it and listen to it at the same time further solidifying the idea. Every time I open the book, I usually just open it to a random spot, I learn something I didn't know. Pages 14-16 provide a clear description of the kinds of businesses Buffett & Munger like, how they think about them, and what they don’t like. I have heard this before, but reading it and underlining it, solidifies it into my head. I highly recommend buying the book and studying it. Review: Ton of wisdom packed on every page - What a great reminder of the wisdom from Charlie Munger and Warren Buffett.