60 acast.com Investing Legends https://feeds.acast.com/public/shows/the-investors en Investing Wisdom Investing, business,stocks Investing Wisdom Investing Legends is a long-form podcast dedicated to the thinking, principles, and decision-making frameworks of the world’s most respected investors.


Each episode explores the ideas of investors such as Warren Buffett, Charlie Munger, Howard Marks, Ray Dalio, Jim Simons, and Stanley Druckenmiller.

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]]> Investing Legends is a long-form podcast dedicated to the thinking, principles, and decision-making frameworks of the world’s most respected investors.


Each episode explores the ideas of investors such as Warren Buffett, Charlie Munger, Howard Marks, Ray Dalio, Jim Simons, and Stanley Druckenmiller.

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]]> false Investing Wisdom investingwisdom1@gmail.com 696ceb4536ab0b526844a7bb the-investors episodic https://assets.pippa.io/shows/696ceb4536ab0b526844a7bb/1787084061621-3688457b-876c-4c8a-bd9d-9604f07d9965.jpeg https://feeds.acast.com/public/shows/the-investors Investing Legends 1870072388 <![CDATA[Warren Buffett - Investing Principles, Intrinsic value, Opportunity Costs, Compounding, Leadership & Character]]> Thu, 20 Aug 2026 06:00:00 GMT 1:12:52 6a85dcbf8b730c47c14fc6e0 false https://shows.acast.com/the-investors/episodes/6a85dcbf8b730c47c14fc6e0 6a85dcbf8b730c47c14fc6e0 696ceb4536ab0b526844a7bb full Buffett opens with a thought experiment for the students. If you could buy ten percent of one classmate's lifetime earnings, who would you pick? Not the one with the best grades, he argues, but the one whose character you'd bet on. That leads into the three qualities he hires for: intelligence, energy, and integrity, and why the third makes the other two dangerous when it's missing.

The Q&A runs wide. He explains the circle of competence using the two thousand American car companies that didn't survive, and the airplane makers whose combined earnings since Kitty Hawk added up to less than nothing. He defines intrinsic value as simply the cash a business will hand you between now and judgment day, discounted properly, and traces the idea back to Aesop.

He's candid about his failures: buying Berkshire Hathaway itself, the cigar butt years, the US Air preferred, and the filling station stake he calculates has cost him billions in foregone compounding. But the costliest mistakes, he insists, never show up in any accounting. They're the opportunities he understood and sat on anyway.

Also covered: why the Dow went nowhere for seventeen years while the economy kept improving, why the Fed's brake works better than its gas pedal, how he instructs his trustees to give the money away, and the story of Rose Blumkin, who walked out of Russia in 1921, couldn't read or write, and built the largest home furnishings store in the world.

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]]> Buffett opens with a thought experiment for the students. If you could buy ten percent of one classmate's lifetime earnings, who would you pick? Not the one with the best grades, he argues, but the one whose character you'd bet on. That leads into the three qualities he hires for: intelligence, energy, and integrity, and why the third makes the other two dangerous when it's missing.

The Q&A runs wide. He explains the circle of competence using the two thousand American car companies that didn't survive, and the airplane makers whose combined earnings since Kitty Hawk added up to less than nothing. He defines intrinsic value as simply the cash a business will hand you between now and judgment day, discounted properly, and traces the idea back to Aesop.

He's candid about his failures: buying Berkshire Hathaway itself, the cigar butt years, the US Air preferred, and the filling station stake he calculates has cost him billions in foregone compounding. But the costliest mistakes, he insists, never show up in any accounting. They're the opportunities he understood and sat on anyway.

Also covered: why the Dow went nowhere for seventeen years while the economy kept improving, why the Fed's brake works better than its gas pedal, how he instructs his trustees to give the money away, and the story of Rose Blumkin, who walked out of Russia in 1921, couldn't read or write, and built the largest home furnishings store in the world.

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]]> Berkshire Hathaway Shareholder Letters 1978 Berkshire Hathaway Shareholder Letters 1978 Wed, 19 Aug 2026 12:07:04 GMT 26:00 6a81e83aff328abd843860d7 false https://shows.acast.com/the-investors/episodes/6a81e83aff328abd843860d7 6a81e83aff328abd843860d7 696ceb4536ab0b526844a7bb full 2 2

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]]>

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]]> Berkshire Hathaway Shareholder Letters 1977 Berkshire Hathaway Shareholder Letters 1977 Tue, 18 Aug 2026 04:00:00 GMT 18:54 6a81d05b6e5b5bfda628ca5d false https://shows.acast.com/the-investors/episodes/6a81d05b6e5b5bfda628ca5d 6a81d05b6e5b5bfda628ca5d 696ceb4536ab0b526844a7bb full 2 1

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]]> Warren Buffett Partnership Letter 1969/1970 - Winding down the partnership Warren Buffett Partnership Letter 1969/1970 - Winding down the partnership Sat, 15 Aug 2026 10:00:00 GMT 37:08 6a7cb2cd91cf66ecf8a83db8 false https://shows.acast.com/the-investors/episodes/6a7cb2cd91cf66ecf8a83db8 6a7cb2cd91cf66ecf8a83db8 696ceb4536ab0b526844a7bb full 1 21

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]]> Warren Buffett Partnership Letter 1968 Full Year Warren Buffett Partnership Letter 1968 Full Year Thu, 13 Aug 2026 14:00:00 GMT 17:53 6a7cae4291cf66ecf8a648dd false https://shows.acast.com/the-investors/episodes/6a7cae4291cf66ecf8a648dd 6a7cae4291cf66ecf8a648dd 696ceb4536ab0b526844a7bb full 1 20

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]]> Warren Buffett Partnership Letter 1968 H1 Warren Buffett Partnership Letter 1968 H1 Tue, 11 Aug 2026 14:00:00 GMT 8:00 6a7a1a5befa771345a982e56 false https://shows.acast.com/the-investors/episodes/6a7a1a5befa771345a982e56 6a7a1a5befa771345a982e56 696ceb4536ab0b526844a7bb full 1 19 The Money Game for a portrait of the era.

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]]> The Money Game for a portrait of the era.

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]]> Warren Buffett Partnership Letter 1967 Full Year Warren Buffett Partnership Letter 1967 Full Year Mon, 10 Aug 2026 18:23:28 GMT 12:18 6a7a1720cfc0396cc1ad2ecd false https://shows.acast.com/the-investors/episodes/6a7a1720cfc0396cc1ad2ecd 6a7a1720cfc0396cc1ad2ecd 696ceb4536ab0b526844a7bb full 1 18

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]]> Warren Buffett Partnership Letter 1967 H1 Warren Buffett Partnership Letter 1967 H1 Thu, 30 Jul 2026 14:00:00 GMT 20:52 6a67a555a02cbcf2a1b627f8 false https://shows.acast.com/the-investors/episodes/6a67a555a02cbcf2a1b627f8 6a67a555a02cbcf2a1b627f8 696ceb4536ab0b526844a7bb full 1 17 Warren Buffett's mid-1967 letter to partners. After a rough January, the partnership finished the half up 21% against the Dow's 11.4%. Buffett names Diversified Retailing and Berkshire Hathaway as his controlled companies — and candidly warns that Berkshire's textile business faces real difficulties and won't earn a good return, dragging on relative performance in a rising market. He shares his tax philosophy ("Don't worry about the income; just the outcome") and previews a special October letter that will revise his "Ground Rules" — the coming moment where he lowers his ambitions and redefines success for the partnership.


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]]> Warren Buffett's mid-1967 letter to partners. After a rough January, the partnership finished the half up 21% against the Dow's 11.4%. Buffett names Diversified Retailing and Berkshire Hathaway as his controlled companies — and candidly warns that Berkshire's textile business faces real difficulties and won't earn a good return, dragging on relative performance in a rising market. He shares his tax philosophy ("Don't worry about the income; just the outcome") and previews a special October letter that will revise his "Ground Rules" — the coming moment where he lowers his ambitions and redefines success for the partnership.


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]]> Warren Buffett Partnership Letter 1966 Full Year Warren Buffett Partnership Letter 1966 Full Year Wed, 29 Jul 2026 14:00:00 GMT 25:03 6a67a3b80bd0d38defa5e346 false https://shows.acast.com/the-investors/episodes/6a67a3b80bd0d38defa5e346 6a67a3b80bd0d38defa5e346 696ceb4536ab0b526844a7bb full 1 16

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]]>

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]]> Warren Buffett Partnership Letter 1966 H1 Warren Buffett Partnership Letter 1966 H1 Tue, 28 Jul 2026 14:00:00 GMT 13:36 6a67a07035a551238a80403e false https://shows.acast.com/the-investors/episodes/6a67a07035a551238a80403e 6a67a07035a551238a80403e 696ceb4536ab0b526844a7bb full 1 15

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]]> Warren Buffett Partnership Letter 1965 Full Year Warren Buffett Partnership Letter 1965 Full Year Mon, 27 Jul 2026 14:00:00 GMT 33:25 6a5cce5578e0412bc6b49869 false https://shows.acast.com/the-investors/episodes/6a5cce5578e0412bc6b49869 6a5cce5578e0412bc6b49869 696ceb4536ab0b526844a7bb full 1 14

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]]> Warren Buffett Partnership Letter 1965 H1 Warren Buffett Partnership Letter 1965 H1 Sun, 26 Jul 2026 14:00:00 GMT 10:38 6a5ccb8b4d4b991ebea7538e false https://shows.acast.com/the-investors/episodes/6a5ccb8b4d4b991ebea7538e 6a5ccb8b4d4b991ebea7538e 696ceb4536ab0b526844a7bb full 1 13

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]]> Warren Buffett Partnership Letter 1964 Full Year Warren Buffett Partnership Letter 1964 Full Year Sat, 25 Jul 2026 14:00:00 GMT 45:12 6a5cca8b78e0412bc6b3f1d7 false https://shows.acast.com/the-investors/episodes/6a5cca8b78e0412bc6b3f1d7 6a5cca8b78e0412bc6b3f1d7 696ceb4536ab0b526844a7bb full 1 12

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]]> Warren Buffett Partnership Letter 1964 H1 Warren Buffett Partnership Letter 1964 H1 Fri, 24 Jul 2026 14:00:00 GMT 11:01 6a5cc6c47a878a338009b44c false https://shows.acast.com/the-investors/episodes/6a5cc6c47a878a338009b44c 6a5cc6c47a878a338009b44c 696ceb4536ab0b526844a7bb full 1 11

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]]> Warren Buffett Partnership Letter 1963 Full Year Warren Buffett Partnership Letter 1963 Full Year Thu, 23 Jul 2026 14:00:00 GMT 24:28 6a5cc3f0f782764c4cf612ba false https://shows.acast.com/the-investors/episodes/6a5cc3f0f782764c4cf612ba 6a5cc3f0f782764c4cf612ba 696ceb4536ab0b526844a7bb full 1 10

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]]> Warren Buffett Partnership Letter 1962 H1 Warren Buffett Partnership Letter 1962 H1 Wed, 22 Jul 2026 14:00:00 GMT 18:28 6a5cc10c4d4b991ebea50ca1 false https://shows.acast.com/the-investors/episodes/6a5cc10c4d4b991ebea50ca1 6a5cc10c4d4b991ebea50ca1 696ceb4536ab0b526844a7bb full 1 9

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]]> Warren Buffett Partnership Letter 1962 Full Year Warren Buffett Partnership Letter 1962 Full Year Tue, 21 Jul 2026 14:00:00 GMT 31:07 6a5cbe344d4b991ebea4708f false https://shows.acast.com/the-investors/episodes/6a5cbe344d4b991ebea4708f 6a5cbe344d4b991ebea4708f 696ceb4536ab0b526844a7bb full 1 8

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]]> Warren Buffett Partnership Letter 1962 H1 Warren Buffett Partnership Letter 1962 H1 Mon, 20 Jul 2026 14:00:00 GMT 18:41 6a5cba6d4d4b991ebea3b306 false https://shows.acast.com/the-investors/episodes/6a5cba6d4d4b991ebea3b306 6a5cba6d4d4b991ebea3b306 696ceb4536ab0b526844a7bb full 1 7

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]]> Warren Buffett Partnership Letter 1961 Full Year Warren Buffett Partnership Letter 1961 Full Year Sun, 19 Jul 2026 14:00:00 GMT 25:10 6a5b869c62e50b14bdfa14b3 false https://shows.acast.com/the-investors/episodes/6a5b869c62e50b14bdfa14b3 6a5b869c62e50b14bdfa14b3 696ceb4536ab0b526844a7bb full 1 6

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]]> Warren Buffett Partnership Letter 1960 H1 Warren Buffett Partnership Letter 1960 H1 Sat, 18 Jul 2026 13:33:51 GMT 8:11 6a5b80bf461a6a41908e888d false https://shows.acast.com/the-investors/episodes/6a5b80bf461a6a41908e888d 6a5b80bf461a6a41908e888d 696ceb4536ab0b526844a7bb full 1 5

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]]> Warren Buffett Partnership Letter 1960 Warren Buffett Partnership Letter 1960 Fri, 10 Jul 2026 14:00:00 GMT 16:28 6a4e98d20be8a67717bd3276 false https://shows.acast.com/the-investors/episodes/6a4e98d20be8a67717bd3276 6a4e98d20be8a67717bd3276 696ceb4536ab0b526844a7bb full 1 4

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]]> Warren Buffett Partnership Letter 1959 Warren Buffett Partnership Letter 1959 Wed, 08 Jul 2026 18:18:13 GMT 5:46 6a4e94652b60482dd2fc13f9 false https://shows.acast.com/the-investors/episodes/6a4e94652b60482dd2fc13f9 6a4e94652b60482dd2fc13f9 696ceb4536ab0b526844a7bb full 1 3

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]]> Warren Buffett Partnership Letters 1958 Warren Buffett Partnership Letters 1958 Thu, 02 Jul 2026 14:00:00 GMT 7:45 6a45559e06fb5d326daaef0a false https://shows.acast.com/the-investors/episodes/6a45559e06fb5d326daaef0a 6a45559e06fb5d326daaef0a 696ceb4536ab0b526844a7bb full 1 2

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]]> Warren Buffett Partnership Letters 1957 Warren Buffett Partnership Letters 1957 Wed, 01 Jul 2026 17:51:21 GMT 7:35 6a4553976771af4aa470872c false https://shows.acast.com/the-investors/episodes/6a4553976771af4aa470872c 6a4553976771af4aa470872c 696ceb4536ab0b526844a7bb full 1 1

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