Hey Reader, Warren Buffett transformed investing by emphasizing “moats”—the lasting competitive advantages that protect great businesses. As he wrote, “The key to investing is determining the competitive advantage of any given company and, above all, the durability of that advantage.” In today's issue:
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💎NUGGETS My Favorite Finds 🎥 Pat Dorsey dives deep into moats and how they can help investors in this fantastic Google Talks. 📖 Terry Smith discusses the art of compounding and how he looks for investments. 📻 Daniel and Shawn break down TSMC, arguably one of the biggest moat companies out there. 📖 Morgan Housel shares some "very bad advice." Channeling Charlie Munger and presenting contrarian takes. 🎥 Warren Buffett breaking down valuation in 5 minutes. Worth your time. 📖 Michael Mauboussin helps us understand probabilities and payoffs, enabling investors to make smarter decisions and manage risk more effectively. 📖Knowledge Tidbits
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Hey Reader,Did you know Professor Damodaran constantly emphasizes that there is no single "correct" value for a company? Valuation is filled with uncertainty and bias. The goal isn't to be perfectly right, but to be "less wrong" over time. He views valuation as a craft that improves with practice, humility, and a willingness to acknowledge what you don't know. In today's issue: Aswath Damodaran covers the dark side of valuation Checklist to help evaluate management and capital allocation...
Hey Reader,Warren Buffett once said, “Nobody buys a farm based on whether they think it’s going to rain next year. They buy it because they feel good about owning it over 10 or 20 years.”Why it matters. Invest in businesses you’d hold for decades, not stocks you’d flip next quarter. Ignore short-term noise and focus on durable companies. In today's issue: Warren Buffett explains his approach to valuing a company. Google is fighting back against the rumors Search is coming to an end. Moats and...
Hey Reader,Did you know Warren Buffett considers his investment in Berkshire Hathaway his greatest investment mistake? It's true, he has said many times over the years it was his biggest mistake. In today's issue: How to avoid investing mistakes. Buffett's thoughts on a DCF. How to intrepret drawdowns and recoveries. Much more.... 💸Sponsored by: Finchat.io Analyzing companies is tough. But having the right tools can make it that much easier. That's why Andrew and I's #1 recommended stock...