Warren Buffett, Charlie Munger and Bill Gates sit down with Becky Quick to discuss a variety of topics including the markets, the state of the economy, the China trade talks and the state of health care around the world.
Did not focus much on the relevancy of the news or their detailed opinions on the views of the economy and certain topics. Notes are the few hint of theories I’ve picked up over the conversaion that had more insight into their investment methodologies.
- Trade war with China will have negative effect on the global economy but cannot predict the extent and severity, so time is better spent not predicting
- Not buying stocks because he thinks it’s going to go up tomorrow or next week but a long horizon
- Watch price over current events
- Love when companies reinvest in shares repurchases only at the right price, but can be dumb in the wrong prices
- Bad at investing on the day and week, but good at investing in businesses. You will be wrong some of the time, but will never be wrong on America
- If you believe the stock is undervalued, you should buy the stock (advise to all companies on share buybacks)
- When investing in a company, answer the question of I’m buying the company at X valuation because… and if you can’t answer that question, move onto something else
- Munger don’t waste time on little ripples in the news like the trade tariffs