It’s safe to say Buffett and Munger came through, as usual, with a wealth of information in this year’s Berkshire letter. Before I break down the letter into the many select quotes and lessons, there is a greater lesson throughout.
As expected Buffett spent a good portion of the letter discussing his own imperfection. Despite being the greatest investor ever, he does make mistakes. He freely admits his failures for the world to see. This regular dose of humble pie is a recurring trait among great investors.
The fact Buffett still remembers his mistakes decades later, says more than the rest of the letter. I’d bet he spends more time reworking those mistakes in his head, then he does studying his successes. Continue Reading…
Dividend investing seemed to get more popular after the financial crisis. Not that investors didn’t want dividends before then, but a good crisis can make investors rethink and change their strategy. In hindsight, the trend toward dividends makes sense. But why?
The past few years has seen a growing discussion around how to best value the market. More recently, the argument turned toward just how overvalued is the market and what does it mean? I thought I’d try to answer those two questions.