464- Not-So-Secret Weapon

InvestED: The Rule #1 Investing Podcast

Phil Town & Danielle Town

Investing, Business

4.6 • 1.6K Ratings

🗓️ 24 April 2024

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

A crystal ball would be the ultimate tool for any investor, but given that we’re not living in a fantasy world, how do top investors prepare for an uncertain future? With the inevitability of market downturns, finding a balance between generating returns and being ready to strike when the iron is hot can be a tricky position to navigate. Discovering that equilibrium, along with the patience to hold on through the ups and downs once you’ve bought into a great company, can be what makes or breaks a portfolio in the long run. On this week’s episode, the deep analysis of the 2023 Berkshire Hathaway shareholder letter continues as Phil and Danielle wring every ounce of wisdom from Buffett’s annual communiqué.. For help with future-proofing your portfolio, click here for a free copy of The Ultimate Stock Market Crash Survival Guide: https://bit.ly/3xNXFlf Topics Discussed: Munger’s influence on Buffett’s philosophy Investing in the information age Mutual funds vs ETFs Modern market volatility Forgoing returns to prepare for downturns Resources Discussed: Berkshire Hathaway shareholder letter Wilshire GDP ratio Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Imagine being the first person to ever send a payment over the internet.
0:05.0	New things can be scary and crypto is no different.
0:08.0	It's new, but like the internet, it's also revolutionary.
0:12.0	With Krakin, making your first crypto trade feels easy with
0:15.7	24-7 support when you need it. Go to Krakin.com and see what crypto can be.
0:21.2	Don't invest unless you're prepared to lose all the money you invest.
0:23.7	This is a high-risk investment and you should not expect to be protected if something
0:26.6	goes wrong. Hey everybody this is Phil Town and this is Phil Town and this is Danielle Town
0:40.5	welcome to the invested podcast we We're back with more.
0:44.0	Bufit stuff.
0:46.0	Bufit stuff.
0:47.0	By the way, he's got an annual meeting coming up.
0:50.0	The first one maybe ever that they've done without Charlie Munger.
0:57.0	I know, it's gonna be, it's just gonna be hard for everybody.
1:03.0	You know, and we talked about the early part of this letter where Warren gave Charlie
1:06.8	all the credit for making Berkshire the behemoth success that it is. And to a certain degree, it's really kind of true.
1:19.8	Charlie's idea that you go for a wonderful business instead of just a cheap business really changed
1:26.9	Warren's behavior. I don't know if you guys knew this, but the early letters from Warren,
1:30.9	the ones in the late 50s, early 60s, were all about very active movement
1:36.3	off of companies.
1:38.7	He always liked a fairly focused portfolio on his long
1:44.0	on his long positions but he would carry a merger acquisition
	...

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