Classic 11 - Warren Buffett’s Biography

We Study Billionaires - The Investor’s Podcast Network

Stig Brodersen

Education, Investing, Business

4.6 • 3.6K Ratings

🗓️ 5 April 2022

⏱️ 48 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

IN THIS EPISODE, YOU’LL LEARN:

04:02 - How Warren Buffett already read financial statements when he was a kid.
12:05 - Why Warren Buffett was sitting behind the counter at the local steakhouse collecting receipts, and how that lead to one of his best investments.
24:13 - How a gentleman that counted sheets of toilet paper convinced Warren Buffett to work with him.
25:41 - Why Warren Buffett never replaces management in the companies he acquires.
27:04 - How Warren Buffett picked the CEO of Salomon Brothers in a simple, yet very orthodox way.
41:01 - Ask the Investors: How do you generate ideas for new stock investments?

*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.

BOOKS AND RESOURCES:

Check out our five-page executive summary of Buffett: The Making of an American Capitalist.
Roger Lowenstein’s book, Buffett: The Making of an American Capitalist – Read reviews of this book.
Alice Schroeder’s book, The Snowball – Read reviews of this book.
Preston, Trey & Stig’s tool for picking stock winners and managing our portfolios: TIP Finance Tool.
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Transcript

Click on a timestamp to play from that location

0:00.0	You're listening to TIP.
0:03.0	On today's classic episode, Preston and I decided to read Roger Lerman's Dean's book,
0:07.9	Buffet, the Making of an American Capitalist.
0:10.4	Our episode was originally published as episode 64 back in November 2015.
0:16.2	Many listeners perhaps do not know this, but back in 2014, when Preston and I started
0:20.4	the MSS podcast, the idea was just to talk about Warren Buffet.
0:24.7	We also wanted to record an episode a week.
0:27.5	After three weeks, Preston and I were looking at each other and we were like, we can't
0:32.4	talk about Warren Buffet every single week.
0:34.5	So instead, we came up with the idea of we studied Billioness with the intention that we
0:39.0	would mainly focus on Warren Buffet and then later talk about various Billioness.
0:43.8	So after we not only ran out of Warren Buffet topics, we also ran out of Billioness
0:48.7	to study.
0:50.0	And then our podcast turned more into a podcast of Finnee's and Muggets.
0:54.4	Now all of that being said, we always return to the topic of Warren Buffet and it's no
0:59.1	different for this episode.
1:01.5	Warren Buffet is such a fascinating person and Robert Lerman's Dean's book, Buffet,
1:05.5	the Making of American Capitalist is a book that everyone serious about investing should
1:10.0	read.
1:11.0	So without further ado, here's Preston's and my book review.
1:15.6	We study Billionaires and this is episode 64 of the Investors Podcast.
1:21.6	From Bel Air, Maryland, this is the Investors Podcast.
	...

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