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The Intrinsic Value Podcast - The Investor’s Podcast Network

MI Rewind: Warren Buffett, Charlie Munger, and Berkshire Hathaway w/ Adam Mead

The Intrinsic Value Podcast - The Investor’s Podcast Network

The Investor's Podcast Network

Education, Investing, Business

4.6592 Ratings

🗓️ 24 November 2023

⏱️ 73 minutes

🧾️ Download transcript

Summary

Robert Leonard chats with Adam Mead about his book, “The Complete Financial History of Berkshire Hathaway: A Chronological Analysis of Warren Buffett and Charlie Munger's Conglomerate Masterpiece.” Aside from being a Buffett enthusiast and lifelong learner of business, Adam is the CEO and Chief Investment Officer of Mead Capital Management, LLC. IN THIS EPISODE, YOU’LL LEARN: • 00:00 - Intro • 02:54 - Who is Warren Buffett and Charlie Munger? • 02:54 - How did they influence each other’s investing approach? • 06:36 - Who is Benjamin Graham and what was his impact on Buffett? • 08:46 - What is value investing and why is it relevant in today’s market? • 25:12 - The evolution of Berkshire Hathaway (BRK) and common misconceptions about it. • 37:20 - Why Buffett hasn’t deployed BRK’s large cash pile amid the COVID crisis? • 43:51 - Why investors shouldn’t just copy Buffett’s stock picks. • 45:20 - What has been the leading cause for Buffett’s underperformance over the last decade? • 52:42 - The timeless principles of the Oracle of Omaha that have led to his success and are worth following. • 57:08 - The future of BRK and if it will survive without Buffett and/or Munger. And much, much more! BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members. Adam Mead’s book The Complete Financial History of Berkshire Hathaway. Mead Capital Management website. The Oracle’s Classroom YouTube channel. Stig Brodersen and Preston Pysh’s book Warren Buffett Accounting Book. Peter Kaufman’s book Poor Charlie’s Almanack. Benjamin Graham’s book The Intelligent Investor. All of Robert’s favorite books. NEW TO THE SHOW? Check out our Millennial Investing Starter Packs. Browse through all our episodes (complete with transcripts) here. Try Kyle’s favorite tool for picking stock winners and managing our portfolios: TIP Finance. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: Fiscal.AI Connect with Adam Mead: Website | Twitter | LinkedIn | Facebook  Connect with Robert: Website  Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Transcript

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0:00.0

You're listening to TIP.

0:02.4

On today's show, we're re-sharing some of the older episodes that are my favorites for a few reasons. One, we get a bunch of new listeners each week, so new listeners may not have heard this episode before. Two, even if you've been listening for a while, you may have missed this episode when it originally came out. Or three, even if you've heard it before, it could be a great episode to learn from again. If you've already heard this episode or you're not interested in hearing it, feel free to just skip it. There's no harm in that. And you can pick up with our new episodes next week. That's all I had for you for this new intro. Everything going forward is going to be from the original episode. I hope you guys enjoy it. On today's show,

0:38.0

I chat with Adam Mead about his book, The Complete Financial History of Berkshire Hathaway,

0:42.7

a chronological analysis of Warren Buffett and Charlie Munger's conglomerate masterpiece.

0:48.5

Despite many books already published about this topic, Adam decided to make this one in order

0:54.0

to share new and fascinating facts

0:56.1

about these three financial giants. For instance, did you know that Buffett isn't actually

1:02.6

the founder of Berkshire Hathaway? We'll also be discussing a few common misconceptions about

1:07.9

Berkshire Hathaway, for example, the value of its float and the strength

1:12.7

of its insurance companies. And we'll talk about questions on everyone's mind, such as,

1:18.1

why hasn't Buffett deployed his large cash pile during the COVID crisis? Has Warren Buffett lost

1:24.3

his edge? And if so, is he still worth copying? Will his company,

1:29.1

Berkshire Hathaway, even survive without him or mugger? And what are Buffett's timeless

1:34.3

principles that made him one of the greatest investors of all time? Warren Buffett is one of my

1:39.4

favorite investors of all time. Studying him is what really got me into stock investing and what made me really

1:45.3

passionate about it. So I really enjoyed this conversation with Adam. I hope you guys like it

1:50.0

just as much as I did. So let's get right into this week's episode with Adam Mead.

1:55.6

You're listening to Millennial Investing by the Investors Podcast Network, where your host, Robert Leonard, interview

2:02.2

successful entrepreneurs, business leaders, and investors to help educate and inspire the

2:07.6

millennial generation.

2:17.4

Hey, everyone. Welcome back to the millennial investing podcast. As always, I'm your host, Robert

2:22.2

Leonard, and with me today, I have Adam Mead. Welcome to the show, Adam. Hi, Robert. Thanks for

...

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