Monday, February 27, 2017


A few years ago, I put a post together—both for my own reference and also to have something easy to send to any small-company CEOs that we could potentially invest with at my day job—of Warren Buffett's comments on share repurchases over the years. I just updated that post to include his comments from this year's letter, in case it may be of use to anyone else out there as well: Warren Buffett on Share Repurchases

For those already fluent with the Berkshire-gospel, I think the letter largely just served as a reminder of a few particular things things (share repurchases, ignore EBITDA as a metric, etc.). My favorite quote was probably: "First, widespread fear is your friend as an investor, because it serves up bargain purchases. Second, personal fear is your enemy."

Warren Buffett on CNBC.... Links to videos (the full transcript is HERE):

Buffett: American dynamism 'overwhelms' everything else

Buffett: Don't make this investment mistake

Buffett: Our market system is why America succeeds

Buffett: There are wonderful assets out there

Buffett: Bought a big chuck of Apple

Buffett: Apple product has incredible 'stickiness'

How Warren Buffett values banks

Buffett: Tweaked airline position

Buffett: This is how we sold Dow Chemical

Buffett: I own about 20 suits

Buffett: Don't mix politics with your investments decision

Warren Buffett: I like airlines because they just 'got a bad century out of the way'

Buffett: Trump's number one job is to keep US safe

Buffett: I'll judge Trump by how safe the country is in four years

Buffett: Low rates and Europe

Buffett: Here's what happened between Kraft Heinz and Unilever

Buffett: No one is any better in product development than 3G

Buffett: Self-driving cars could be negative auto auto insurance companies

Buffett: I wouldn't buy 50-year bonds at these rates in a million years

Buffett: Insurance industry catastrophes remarkably 'benign'

Buffett: Government-sponsored mortgages important, but not necessarily Fannie & Freddie

Buffett: We don't hold stocks forever

Buffett: These two newspapers will likely survive...

Warren Buffett breaks down his $1 million March Madness challenge

Buffett: Amazon's Jeff Bezos is one terrific businessperson

Buffett: Wells Fargo's huge mistake was its failure to act

Buffett: Pros won't get a better result than index funds

Buffett: You don't have to be special to outperform index funds

Buffett: Stocks are safe in the long run and very unsafe for tomorrow

Buffett: Growth is all about productivity


Full Transcript of Charlie Munger at the 2017 DJCO Meeting [H/T Santangel's Review] (LINK) [And in case you missed the videos, see HERE and HERE.]

The Broyhill Annual Letter (LINK)

Asset Markets as Banks (LINK)

Why has the level of business competition levels been turned up to 11? Or: Why is the lean customer development process important? - by Tren Griffin (LINK)

Shane Parrish talks with Naval Ravikant on The Knowledge Project Podcast (audio and transcript) (LINK)

Twitter, Live, and Luck - by Ben Thompson (LINK)

There’s No Magic in Venture-Backed Home Care [H/T @BrentBeshore] (LINK)

a16z Podcast: Tech and Entertainment in the ‘Era of Mass Customization’ (with Reed Hastings and Marc Andreessen) (LINK)

How I Built This podcast -- Atari & Chuck E. Cheese's: Nolan Bushnell (LINK)
Before he turned 40, Nolan Bushnell founded two brands that permanently shaped the way Americans amuse themselves: the iconic video game system Atari, and the frenetic family restaurant Chuck E. Cheese's.
Now That We Can Alter Our Genetic Code, Should We? - by Siddhartha Mukherjee (LINK)
Related book: The Gene
The first known image of a female green anaconda squeezing her mate to death (LINK)