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Wednesday, July 19, 2006
Buffett and Rose
I watched Charlie Rose interview Warren Buffet this weekend. A 3 part series...very interesting. The key learnings:

Buffet view his job as:
-asset allocation
-assessing managerial talent

Buffett thinkg his key skills are:
-capacity to focus
-concentrating on what is important

Buffett's simple view on investment decisions:
-If you dont know how much a business is worth, dont buy it...have a margin of safety
-4 tests for an investment:
-Can I understand it?
-Do I like the management?
-Do they have an enduring comp advantage?
-Is it the right price? (least important)

Other items of note:
-Buffett reads 5 newspapers a day
- He suggests you focus on your inner scorecard, not outer scorecard
- He defines friendship as "who will hide you"
posted by Rob @ 7:24 PM  
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