1,000+ pages
of Berkshire Hathaway Shareholder Letters

40+ interviews
with Warren Buffett

10+ talks
by Charlie Munger

​Why is this the best summary yet?

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I

 

Clear framework for long-term investing

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Guidelines for long-term investing, drawing on Buffett's own words

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Key concepts and ideas explained, answering practical questions, e.g. how to navigate today's volatility and uncertainty, how to identify good investment opportunity, what assets perform best over long-term, how many stocks should you have in your portfolio, when does it make sense to diversify more and when not, and many more.

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II
 

Breaking myths

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Using Buffett’s own words, I will argue that:

(i) Warren Buffett is not a value investor

(ii) Diversification does not reduce risk

(iii) Bonds are not less risky than stocks

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III

 

Practical tools for evaluating investments

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Explaining tools that Berkshire uses and that are often underestimated or misused in the finance industry.

 

Highlighting common pitfalls when using financial ratios, offering guidance on how to use them the correct way, including why EBITDA is banned at Berkshire.

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Who will benefit most?

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While the investment principles are universally applicable, my focus  is on the everyday individual, like myself. I also chose this format in response to the growing interest in investing particularly among smaller, “retail” investors.

 

For most retail investors, gaining exposure to a passive index fund is often the simplest and most effective approach to building long-term wealth. However, if you choose to invest in individual stocks, it is essential to adhere to certain principles that Berkshire would advocate.