VALUExBRK 2024: Life Lessons from Charlie Munger, Mohnish Pabrai, William Green and others.
Guy Spier
27,396 views
This livestream of VALUExBRK look place during the Berkshire Hathaway weekend.
Transcript can be access here: https://aqfd.docsend.com/view/iusk2v9...
Charlie Munger used to call the Berkshire meeting a celebration. Of course it is. But it’s also so much more. I’ve been making the pilgrimage to Omaha for more than 25 years and I can’t think of a more auspicious opportunity to learn and grow – both as an individual and as an investor.
It is in this spirit that last year I decided to host VALUExBRK. The gathering is a variation on the theme of my annual VALUExKlosters conference – where each speaker shares their thoughts on an “investment idea worth sharing.”
Organized in a similar vein, VALUExBRK was an opportunity to hear from people who have been life-long students of Warren, Charlie and the Berkshire Hathaway system.
I requested that each speaker tell a story connected to Berkshire Hathaway that increases our worldly wisdom – and to keep it really short, TED style, to five to 10 minutes.
You could call it, “Berkshire stories worth sharing.”
Many of the speakers were well known to the audience and need no introduction: Mohnish Pabrai, Robert Hagstrom, William Green, Gillian Zoe Segal, Michael OBrien and Paul Johnson are amongst them.
But here are a few other highlights
Doerthe Obert was Charlie Munger’s assistant for more than 30 years. I’ve learned as much from people who’ve worked with Warren as from Warren and Charlie directly.
Luca Dellanna is the author of a recent book on long-term thinking.
Despite my knowing that a key to success is to play long-term games, there was so much that I did not understand. In his book, Luca Dellanna has revealed many of the pieces of the puzzle that up to now had been obscure.
Sheena Iyengar is the author of the books “Think Bigger” and “The Art of Choosing.” Many of us think of a true value investor as sitting in a dark room and thinking. In a way, Sheena embodies that. Growing up largely blind, she has spent her life in a space with no physical light – but despite that, plenty of enlightenment.
Chris Sparling is the co-founder of Tiny Capital. It was only recently that Chris and his partner Andrew Wilkinson met with Charlie Munger - and they almost merged with Daily Journal. Chris will likely tell part of that story. Andrew's book - telling that story more fully will be coming out later this year.
Rosie Rios is a former Treasurer of the United States. That means that her signature used to be on every US$ bill. Lory (my wife) and I met Rosie some years ago at the Buffett brunch.
Monsoon Pabrai – despite being my friend Mohnish’s daughter – is a very different sort of investor to her father. These days, I learn as much from her as I do from him.
Andy Slavitt was the man behind the “Obama Dream Team” that turned around Obamacare and was a key advisor on the US response to Covid. He has thoughts about healthcare.
Content
(00:12:09) Welcome
(00:14:13) Adam Franks Introduces Monsoon Pabrai
(00:16:10) Monsoon Pabrai on 8 Companies in India Worth Investing In
(00:24:04) Monsoon’s Story About Charlie Munger and Q&A with Monsoon
(00:30:44) Michael O’Brien on the Famous Charlie Munger Portrait
(00:41:42) William Green on His Experience Interviewing Charlie Munger
(00:49:48) How to Get Charlie Munger’s Famous Portrait
(00:53:54) Luca Dellanna on How to Leverage the Iterated Nature of Long-Term Games
(01:07:10) Chris Sparling on the Story of Meeting Charlie Munger
(01:21:22) Robert Hagstrom on the Intellectual History of Modern Portfolio Theory
(01:39:50) Gillian Zoe Segal on How She Managed to Interview Warren Buffett
(1:51:15) Doerthe Obert: Anecdotes About Charlie Munger
(01:08:38) Break
(03:04:42) Schedule of the Afternoon
(03:05:58) Ariel Hsing on How She Played Table Tennis Against Warren Buffett and Bill Gates
(03:08:34) Lessons Ariel Learned from the Duo
(03:14:18) Sheena Iyengar on How to Solve Any Problem in 6 Simple Steps
(03:37:49) Rosie Rios on Exchanging Gifts with Warren Buffett and Their Friendship
(03:47:06) The America250 Initiative
(04:01:53) Bryan Lawrence introduces Andy Slavitt
(04:05:42) Andy Slavitt on the American Healthcare System
(04:23:10) Paul Johnson on Earnings Power Value vs. Market-Implied Value of Growth
(04:40:32) Mohnish Pabrai Reflects on His Friendship with Charlie Munger
(04:59:37) How Charlie Munger Faced Adversity
(05:06:01) Guy and Mohnish’s Favorite Memories of Charlie Munger
More about VALUEx here:
https://www.valuex.ch/about/
More about Guy Spier here:
https://www.guyspier.com/
More about Aquamarine Fund here
https://www.aquamarinefund.com/
More about Paul Johnson here
https://business.columbia.edu/faculty...
20 Comments
I wanted to express my heartfelt gratitude for live streaming the Valuex event. Your decision to share this valuable content embodies the essence of one of Charlie Munger's fundamental principles: "To Be Useful”.
Your generosity in providing access to such insightful discussions demonstrates a commitment to enriching the lives of others in the investing community and humanity as a whole by giving us insights of Charlie munger life and his wisdom
You've truly made a difference.❤❤
Love From INDIA.
All the best,
Guy and Matt
VALUExBRK 2024: Life Lessons from Charlie Munger, Mohnish Pabrai, William Green and others.
Guy Spier
27,396 views
This livestream of VALUExBRK look place during the Berkshire Hathaway weekend.
Transcript can be access here: https://aqfd.docsend.com/view/iusk2v9...
Charlie Munger used to call the Berkshire meeting a celebration. Of course it is. But it’s also so much more. I’ve been making the pilgrimage to Omaha for more than 25 years and I can’t think of a more auspicious opportunity to learn and grow – both as an individual and as an investor.
It is in this spirit that last year I decided to host VALUExBRK. The gathering is a variation on the theme of my annual VALUExKlosters conference – where each speaker shares their thoughts on an “investment idea worth sharing.”
Organized in a similar vein, VALUExBRK was an opportunity to hear from people who have been life-long students of Warren, Charlie and the Berkshire Hathaway system.
I requested that each speaker tell a story connected to Berkshire Hathaway that increases our worldly wisdom – and to keep it really short, TED style, to five to 10 minutes.
You could call it, “Berkshire stories worth sharing.”
Many of the speakers were well known to the audience and need no introduction: Mohnish Pabrai, Robert Hagstrom, William Green, Gillian Zoe Segal, Michael OBrien and Paul Johnson are amongst them.
But here are a few other highlights
Doerthe Obert was Charlie Munger’s assistant for more than 30 years. I’ve learned as much from people who’ve worked with Warren as from Warren and Charlie directly.
Luca Dellanna is the author of a recent book on long-term thinking.
Despite my knowing that a key to success is to play long-term games, there was so much that I did not understand. In his book, Luca Dellanna has revealed many of the pieces of the puzzle that up to now had been obscure.
Sheena Iyengar is the author of the books “Think Bigger” and “The Art of Choosing.” Many of us think of a true value investor as sitting in a dark room and thinking. In a way, Sheena embodies that. Growing up largely blind, she has spent her life in a space with no physical light – but despite that, plenty of enlightenment.
Chris Sparling is the co-founder of Tiny Capital. It was only recently that Chris and his partner Andrew Wilkinson met with Charlie Munger - and they almost merged with Daily Journal. Chris will likely tell part of that story. Andrew's book - telling that story more fully will be coming out later this year.
Rosie Rios is a former Treasurer of the United States. That means that her signature used to be on every US$ bill. Lory (my wife) and I met Rosie some years ago at the Buffett brunch.
Monsoon Pabrai – despite being my friend Mohnish’s daughter – is a very different sort of investor to her father. These days, I learn as much from her as I do from him.
Andy Slavitt was the man behind the “Obama Dream Team” that turned around Obamacare and was a key advisor on the US response to Covid. He has thoughts about healthcare.
Content
(00:12:09) Welcome
(00:14:13) Adam Franks Introduces Monsoon Pabrai
(00:16:10) Monsoon Pabrai on 8 Companies in India Worth Investing In
(00:24:04) Monsoon’s Story About Charlie Munger and Q&A with Monsoon
(00:30:44) Michael O’Brien on the Famous Charlie Munger Portrait
(00:41:42) William Green on His Experience Interviewing Charlie Munger
(00:49:48) How to Get Charlie Munger’s Famous Portrait
(00:53:54) Luca Dellanna on How to Leverage the Iterated Nature of Long-Term Games
(01:07:10) Chris Sparling on the Story of Meeting Charlie Munger
(01:21:22) Robert Hagstrom on the Intellectual History of Modern Portfolio Theory
(01:39:50) Gillian Zoe Segal on How She Managed to Interview Warren Buffett
(1:51:15) Doerthe Obert: Anecdotes About Charlie Munger
(01:08:38) Break
(03:04:42) Schedule of the Afternoon
(03:05:58) Ariel Hsing on How She Played Table Tennis Against Warren Buffett and Bill Gates
(03:08:34) Lessons Ariel Learned from the Duo
(03:14:18) Sheena Iyengar on How to Solve Any Problem in 6 Simple Steps
(03:37:49) Rosie Rios on Exchanging Gifts with Warren Buffett and Their Friendship
(03:47:06) The America250 Initiative
(04:01:53) Bryan Lawrence introduces Andy Slavitt
(04:05:42) Andy Slavitt on the American Healthcare System
(04:23:10) Paul Johnson on Earnings Power Value vs. Market-Implied Value of Growth
(04:40:32) Mohnish Pabrai Reflects on His Friendship with Charlie Munger
(04:59:37) How Charlie Munger Faced Adversity
(05:06:01) Guy and Mohnish’s Favorite Memories of Charlie Munger
More about VALUEx here:
https://www.valuex.ch/about/
More about Guy Spier here:
https://www.guyspier.com/
More about Aquamarine Fund here
https://www.aquamarinefund.com/
More about Paul Johnson here
https://business.columbia.edu/faculty...