Warren Buffett On The Dangers Of Using Complex Math In Investing
When he's trying to figure out if a company is a good investment, Warren Buffett does not rely on complicated formulas, spreadsheets, and higher-level math. He believes higher mathematics may actually be "dangerous and will lead you down pathways that are better left untrod," if used in the investment process. Q2 2020 hedge fund letters, Read More
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1:25 – Just curious to start out with a 30,000 foot view where the Acquirer’s Multiple fits into this and what you are adding?
6:32 – Do you think that American Express investment represented the shift in the evolution into Buffet’s style like the first non-Ben Graham style investment?
12:26 – What is the apples to apples outperformance of the Acquirer’s Multiple methodology compared to Greenblatt’s magic formula?
12:56 – Have you had the opportunity to speak with Greenblatt and present your findings to him?
14:19 – The Acquirer’s Multiple methodology?
16:42 – How do you spend most of your day?
22:51 – What are your views on the passive versus active debate?
22:50 – So you start out with the screen and look at each company and then defer back to the screen, how do you does the process work?
26:45 – Did you construct this system yourself?
29:37 – If you had to pick one stock and hold it for the next 30 years?
30:47 – How many factors due you screen on?
32:41 – What advice would you give a young millennial entering the money management business?
34:28 – What is the most important thing people do not know about you?
39:05 – What do you know now that you wish you knew then?
42:37—What do you do for fun?
Enjoy and thanks for the listen!