Value Investing

Slide Presentation – Value Investing & Warren Buffett At Concordia University, Montreal – Oct. 19, 2017

The Value Investing Approaches of Warren Buffett, Charlie Munger, Todd Combs, and Ted Weschler at Berkshire Hathaway At Concordia University, Montreal – Oct. 19, 2017

Get The Full Warren Buffett Series in PDF

Get the entire 10-part series on Warren Buffett in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues

15 Largest Common Stock Investments (12/31/2016)

Case Study: How 3G Capital Squeezed More Out Of Heinz

Lecture On Value Investing & Warren Buffett

5 Largest Common Stock Investments (6/30/2017)

Lecture On Value Investing & Warren Buffett

These 5 holdings comprise 63% of Berkshire Hathaway’s Common Stock Holdings

Lecture On Value Investing & Warren Buffett

Berkshire Hathaway vs S&P 500 (1965-2017)

In dollar terms, $1,000 invested in Berkshire Hathaway 52 years ago is now worth $18.5 million. The same amount invested in the S&P 500 would be worth $123,000.

(Values were calculated using the compounded annual gain of 20.8 percent from 1965-2017 for per-share market value of Berkshire, and the compounded annual gain of 9.7 percent from 1965-2017 in the S&P 500, with dividends included.)

Warren Buffett

  • CEO and Chairman of Berkshire Hathaway
  • 1965-present

Forbes 400 (2017)

Get The Full Series in PDF

Get the entire 10-part series on Charlie Munger in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues.

Lessons From Charlie Munger's Partnership

Lecture On Value Investing & Warren Buffett

Forbes World’s Largest Companies by Market Capitalization (2017)

Lecture On Value Investing & Warren Buffett

Early Life

  • Born August 30, 1930 (age 87)
  • Enrolled in the University of Pennsylvania’s Wharton School
    • Transferred to and graduated from the University of Nebraska-Lincoln
  • Graduated from Columbia Business School in 1951
  • Married Susan Buffett in 1952
    • They had three children: Susie, Howard, and Peter
  • That same year he began teaching “Investment Principles” night class at the University of Nebraska

Career Progression

Get The Full Walter Schloss Series in PDF

Get the entire 10-part series on Walter Schloss in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues.

  • 1951 to 1954 – Buffett-Falk & Co as an investment salesman
  • 1954 to 1956 – Graham-Newman Corp as a securities analyst
  • 1956 to 1969 – Buffett Partnership, Ltd as general partner
  • 1965 – Chairman and CEO of Berkshire Hathaway

Charlie Munger

  • Vice Chairman of Berkshire Hathaway
  • Munger and Buffett built an informal investing partnership in the 1960s and 1970s
  • Buffett refers to him as “his partner”

Charlie Munger

  • Born January 1, 1924 (93 years old)
  • Born and raised in Omaha, Nebraska
    • Worked at Buffett & Son as a teenager
  • Studied Mathematics at the University of Michigan
    • Dropped out to join the Air Force during World War II
  • He continued his education at Caltech
    • Studied Meteorology
  • Graduated from Harvard Law School in 1948
    • Graduated magna cum laude with a J.D.

Charlie Munger Career

  • Moved to California and joined the law firm Wright & Garrett
  • In 1962 he created the law firm Munger, Tolles & Olson working as a real estate attorney
  • Also ran his own investment firm from 1962-1975
    • Generated compound annual returns of 24.3%
    • Compared to just 6.4% annual appreciation for the Dow Jones Industrial Average

 

Get The Full Henry Singleton Series in PDF

Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues

See the full presentation below.