Gustavo Ballvé on January 24th, 2011
Corporate Governance, Corporate Strategy, Food for thought, Home, Investment Themes, Mental models, Portfolio Management, Quotes, Risk management

In our latest quarterly report, we discuss the notion of “economic moat” in the second part of the Sand Castles, Concrete Walls text (here’s Part 1). In it we quote from a 1998 Warren Buffett talk to Florida University MBA students that is simply a must-see. It’s a very candid talk in which Mr. Buffett discusses not only the fundamental aspects of value investing in a bit more detail than we get nowadays, but also some sector and company-specific opinions that, again, he now seems more reluctant to share outside of the Berkshire letters to shareholders. We post the 10 videos inside with all-Buffett footage, but here’s a link to a full, complete version at Google Video (which we couldn’t embed) and the link to a transcript of the entire session (in PDF). Video number 10 alone is worth watching and sharing with friends, and not just those in the financial industry: he proposes a mental exercise about the “ovarian lottery” that’s really thought-provoking.

Part 1 of 10 (9:52)

Part 2 of 10 (10:00)

Part 3 of 10 (9:07)

Part 4 of 10 (6:33)

Part 5 of 10 (8:32)

Part 6 of 10 (8:29)

Part 7 of 10 (9:34)

Part 8 of 10 (8:48)

Part 9 of 10 (6:28)

Part 10 of 10 (7:52)

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