Any other such Gems for Kindle?
thank you so much for providing the link professor. waiting for your upcoming interview with vishal (@safal niveshak) and BFBV Version 10 slides!!
What is the image editing application that you are using? The arrow looks really good.
Thank you for this post Sir.
Sir also these days “Kindle software can be downloaded onto normal PCs and laptops and “kindle Edition” viewed thereafter.
For those who dont wanna pay $ 3 or yet to have credit card, pls visit http://www.rbcpa.com/WEB_letters/WEB_Letters_pre_berkshireTURNEDOFF.html
You must be able to pay for this in Rupee too at amazon.in and that would be Rs.180
Warren Buffett CNBC Interview Transcripts Collection
So what kinds of questions are not being asked about Warren Buffett? And on the flip side, what is overplayed with regards to his investment style (such as focusing on brands)?
Be greedy when others are fearful and fearful when others are greedy, which is a Gus Levy (former CEO of Goldman Sachs) quote that he uses a lot.
I’ve seen people rationalize buying a beaten-down stock because other people are fearful. That’s not how Warren thinks. For the most part, he has a universe of stocks that he has analyzed. And when something hits his bid then he will buy it.
I think another thing people have gotten confused about is the sustainable competitive advantage and the moat. Durable competitive advantage and moats are not the same thing as brands. People sometimes use these terms interchangeably. I have also seen people ascribe competitive advantages to brands that don’t have them. For example, retailers — retailers have brands. We all know what Macy’s (M) is, but retailing is fundamentally a bad business.
In essence, the merits of a brand are not the brand itself; they are qualities of the product that create the consumer loyalty. What attracted him, ultimately, to Coca-Cola is that Coca-Cola’s formula make you more, not less, thirsty, and supposedly has been tested to prove that it doesn’t wear out the palate, no matter how much is consumed. This implies infinite sales potential. The cute commercials and cherry red logo create an association in people’s minds with those qualities. They aren’t what makes it Coca-Cola.
While there are moats that include brands, a brand is not a moat. The moat is whatever qualities are innate to the business that make it difficult to compete with.
Lastly, investing is not a religion. It’s not like you have to follow a creed. Warren will buy things that are simply cheap. He’s pragmatic. There’s no rule that he has to be absolutely consistent. If he sees something that he thinks is undervalued he’ll occasionally buy it, even if it’s a Korean dairy company. Then he’ll sell it. Everything doesn’t have to fit into a perfect framework.
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