Few Bets. Big Bets. Infrequent Bets.

In his talk at the University of California at Irvine’s Paul Merage School of Business, Mohnish discusses five decisions by Warren Buffett and Charlie Munger over a 20-year period (1968 – 1988) that moved the needle for Berkshire. Mohnish also talks about some of the intense difficulties that Warren Buffett and Charlie Munger faced along the way. No pain, no gain!

Here is the edited version:

00:00:00 Introduction
00:03:00 S & H Green Stamps
00:05:20 Blue Chip Stamps
00:13:00 Diversified Retailing
00:14:50 See’s Candy
00:16:00 Buffalo News
00:19:35 Wesco Financial and Freddie Mac
00:24:45 Wheeler Munger Partnership
00:31:20 Tenneco Stock
00:36:14 Difference in Pabrai Funds and Dhandho
00:38:38 Patience is like law of physics in investment
00:42:56 Few Bets, Big Bets, Infrequent Bets.
00:58:00 Compounding is the 8th wonder of the world
00:59:26 Investing is for those who love to watch paint dry
01:03:54 Time spent on analysing a company’s product and services.
01:09:20 Philanthropic efforts; Dakshana Foundation
01:15:04 Principles of value investing on diversified businesses
01:20:27 Portfolio Diversification
01:24:50 Work life balance
01:28:50 Mental Models
01:34:00 Investment in Chinese market and Circle of competence
01:36:34 High uncertainty and high risk
01:46:11 Extreme patience with extreme decisiveness
01:48:15 How to network to get investment ideas
01:53:18 Leverage
02:03:41 Auto insurance
02:16:23 South Korea market

The contents of this video are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.