TIP548: Berkshire Hathaway Masterclass 2023 w/ Chris Bloomstran

The Investor's Podcast (We Study Billionaires) - The Investor’s Podcast Network

Stig Brodersen

Education, Investing, Business

4.6 • 3.6K Ratings

🗓️ 30 April 2023

⏱️ 91 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stig has invited legend investor Chris Bloomstran from Semper Augustus to teach us how to value Berkshire Hathaway on today's show. Semper Augustus has an outstanding track record with a CAGR of 11.5% since his fund's inception on 2/28/1999, compared to 6.9% for the S&P500. There is no one in the space we respect as much as Chris Bloomstran when valuing the intrinsic value of Berkshire Hathaway. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 10:21 - The intrinsic value of Berkshire Hathaway and what the P/B of Berkshire Hathaway tells us & what it doesn’t tell us. 16:34 - How to think about depreciation and maintenance CAPEX 19:02 - Why the insurance business is worth approximately as much as the energy and railroad businesses combined 35:17 - How to think about Berkshire Hathaway’s bigger equity positions 1:13:49 - Where you can use Berkshire Hathaway to park cash? Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members. Listen to Stig’s masterclass with Chris Bloomstran on valuing Berkshire Hathaway or watch the video. Tune in to Stig’s masterclass with Chris Bloomstran on equity valuations or watch the video. Chris Bloomstran’s website. Read Chris Bloomstran’s letters to his clients. Buffett resource on CNBC. NEW TO THE SHOW? Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. 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: River Toyota Range Rover Briggs & Riley American Express The Bitcoin Way Public Onramp USPS SimpleMining Sound Advisory Shopify AT&T BAM Capital 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 TI-P.
0:03.1	On today's episode, I invited the legendary investor Chris Brumström.
0:07.2	His company, Simper Augustus, has an outstanding track record, compounded annually at 11.5% since
0:13.6	his funds exception in 1999.
0:16.8	This is compared to only 6.9% for the S&P 500.
0:20.5	Aside from Buffalo Munger, in my book, only Chris Brumström understands books of hell the
0:24.7	way better.
0:25.7	The company is the largest equity position for both Chris and me, and I hope you'll enjoy
0:29.8	this masterclass in valuing Berkshire Hell the Way as much as I did.
0:37.7	You are listening to the Investors Podcast, where we study the financial markets and read
0:42.8	the books that influence self-made billionaires the most.
0:46.0	We keep you informed and prepared for the unexpected.
0:58.2	Welcome to the Investors Podcast.
0:59.9	I'm your host, Dick Brodersen, and as I said there in the introduction, I'm here with
1:03.8	Chris Brumström.
1:05.3	Chris, how are you today?
1:06.8	I'm great.
1:07.8	I'm great.
1:08.8	It's good to be doing this again this year with you and look forward to the Roma with you.
1:12.6	Chris, we recorded this April 18th, and this episode will be published on April 29th,
1:17.8	although we can't before the Berkshire weekend, if...
1:20.4	Well, at least that's what we would call it, I guess, if you're running the same circles
	...

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