Links - 05/05/2024
“Opportunity cost is a huge filter in life. If you’ve got two suitors who are really eager to have you, and one is way the hell better than the other, you do not have to spend much time with the other. And that’s the way we filter stock buying opportunities. Our ideas are so simple, people keep asking us for mysteries, when all we have is the most elementary idea.” —Charlie Munger (1997)
The replay of the 2024 Berkshire Hathaway Annual Shareholders Meeting (video) (LINK) [If you watch nothing else, I recommend at least watching the annual video, which was a tribute to Charlie Munger this year, at the 30:54 mark, and Warren Buffett’s answer to the last two questions, starting at the 6:41:11 mark.]
Value Investing with Legends Podcast: Todd Combs - Charlie Munger’s Legacy (Podcast, Transcript)
The Rational Walk on Berkshire Hathaway’s 2024 Q&A Session (LINK)
There’s More to Warren Buffett’s Game Than Just Picking Great Stocks (LINK)
The replay of VALUEx BRK 2024 (video) (LINK)
The Investor’s Podcast: TIP628: The Inner Scorecard w/ Mohnish Pabrai (Video, Podcast)
Broyhill Asset Management’s thesis on Avantor (LINK)
Scott Miller from Greenhaven Road Capital published his Q4 Letter as well as a recent interview with Value Investor Insight.
Behind the Balance Sheet Podcast: #34 The Letter Reader [w/ Lawrence Cunningham] (LINK)
The 10-K Podcast: The Architect and Succession (LINK)
The Meb Faber Show Podcast: Hendrik Bessembinder - Do Stocks Outperform T-Bills? | #532 (LINK)
The Prof G Podcast: Conversation with Josh Wolfe — Where to be Bearish and Bullish in 2024 (LINK)
How to Take Over the World Podcast: The Making of George Washington (LINK)
“There’s so many wonderful people out there. And there’s so many awful people out there. And there’s signs frequently, like flags, particularly over the awful people. And generally speaking, those people are to be avoided. The amount of misery you bring into your life by trusting some awful person and the amount of felicity that you can bring in by making the right business associations — look around this room. And there’s some wonderful people who have created some wonderful businesses. And their customers can trust them. The employees can trust them. The problems can trust them to be fairly faced and reasonably solved. And those are the kind of people you want. And people who take their promises seriously.” —Charlie Munger (1997)