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University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting

University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting

  • Downloads：4398
  • Type：Epub+TxT+PDF+Mobi
  • Create Date：2022-04-21 08:54:11
  • Update Date：2025-09-06
  • Status：finish
  • Author：Daniel Pecaut
  • ISBN：099840621X
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Summary

Will there ever be another investing book like this？ It's unlikely。

University of Berkshire Hathaway is a remarkable retelling of the lessons， wisdom， and investment strategies handed down personally from Warren Buffett and Charlie Munger to shareholders during 30 years of their closed-door annual meetings。

From this front row seat， you'll see one of the greatest wealth-building records in history unfold， year by year。

If you're looking for dusty old investment theory， there are hundreds of other books waiting to cure you of insomnia。 However， if you're looking for an investing book that's as personal as it is revelatory， look no further。

Packed with Buffett and Munger's timeless， generous， and often hilarious wisdom， University of Berkshire Hathaway will keep serious investors turning pages late into the night:

• Get unique insight into the thinking， strategies， and decisions--both good and bad--that made Buffett and Munger two of the world's greatest investors。

• Understand the critical reasoning that leads Buffett and Munger to purchase a particular company， including their methods for assigning value。

• Learn the central tenets of Buffett's value-investing philosophy "straight from the horse's mouth。"

• Enjoy Munger's biting wit as he goes after any topic that offends him。

• Discover Buffett's distaste for "commonly accepted strategies" like modern portfolio theory。

• See why these annual meetings are often called "an MBA in a weekend。"

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Reviews

Amit Singh ，

Not a university but still a good read to go through key happenings of the 30 years of Berkshire Hathaway annual meetings。

Dawid Stronczak ，

Some interesting insights， but the book was quite long and bored me quite often。

Udaibir Singh ，

It's at best a nostalgic read or for Buffet fans。 I enjoyed it for it's freshness and quips from both Buffet and Munger。 It reads like notes from a lecture。 It is indeed true to its title。 However， it does get repetetive after a few years into the book。 There is interesting financial insight from Buffet but for that if recommend reading a book purely written for that purpose。 This one was long and repetitive。 It's at best a nostalgic read or for Buffet fans。 I enjoyed it for it's freshness and quips from both Buffet and Munger。 It reads like notes from a lecture。 It is indeed true to its title。 However， it does get repetetive after a few years into the book。 There is interesting financial insight from Buffet but for that if recommend reading a book purely written for that purpose。 This one was long and repetitive。 。。。more

Giovanni Arellano ，

Probably one of the best books I’ve ever read。 It’s just full of Warren & Charlie’s wisdom。 Must read

Mohit ，

Very interesting read。 Because of how it's written， you'll likely retain a smaller % than you would a linear / storyline book - but even if you retain a few nuggets， think it's well worth it。 Sent me down an Omaha rabbit hole。 Also， "Don't wrestle a pig。 You get dirty and the pig likes it。" Very interesting read。 Because of how it's written， you'll likely retain a smaller % than you would a linear / storyline book - but even if you retain a few nuggets， think it's well worth it。 Sent me down an Omaha rabbit hole。 Also， "Don't wrestle a pig。 You get dirty and the pig likes it。" 。。。more

Bhuvanesh Kandasamy ，

The book shares valuable insights from Buffett and Munger which were shared during their annual shareholder meetings。 The authors have done a great job to summarize and keep the most relevant things without much of repeating concepts。 Some of the key takeaways from the book were:1） Focus on understanding the business and evaluating its value rather than trying to predicting macro economic factors。2） Buying a great business at a fair value will do wonders。3） Becoming a learning machine and always The book shares valuable insights from Buffett and Munger which were shared during their annual shareholder meetings。 The authors have done a great job to summarize and keep the most relevant things without much of repeating concepts。 Some of the key takeaways from the book were:1） Focus on understanding the business and evaluating its value rather than trying to predicting macro economic factors。2） Buying a great business at a fair value will do wonders。3） Becoming a learning machine and always go to bed wiser than the previous day4） Buying businesses with a strong durable competitive advantage and which are less prone to change5） Spend time in understanding the promoters quality and their capital allocation strategy6） The biggest wealth generation vehicle in the long term can be investing in ourselves。 。。。more

Raiyhan ，

Includes some real golden nuggets of information， which makes it worth reading IMO。 It is slightly repetitive， but you would expect that from a book about annual shareholder meetings。

J ，

Buffet insightI liked the books format， easy， bite sized pieces of information broken down year by year。 Smart stuff for everyone。

Hussain Murtaza Ali ，

If you're into investing and admire Warren buffet and Charlie Munger then give it a try。 Loved it， learner soo much from it。 If you're into investing and admire Warren buffet and Charlie Munger then give it a try。 Loved it， learner soo much from it。 。。。more

Mission ，

事實上，這本書不是老巴、老蒙寫的，而是一個巴粉追星追了三十年的回憶錄。本書作者記錄了三十年波克夏股東會大會上的所見所聞，與「自身的觀察與心得」。總之，從這本書入門價值投資沒什麼問題，只是要記在心中：這本書不是老巴跟老蒙寫的 讀墨：http://moo。im/a/02cpxA 事實上，這本書不是老巴、老蒙寫的，而是一個巴粉追星追了三十年的回憶錄。本書作者記錄了三十年波克夏股東會大會上的所見所聞，與「自身的觀察與心得」。總之，從這本書入門價值投資沒什麼問題，只是要記在心中：這本書不是老巴跟老蒙寫的 讀墨：http://moo。im/a/02cpxA 。。。more

Jacob Ferraiolo ，

Reading about Buffett and Munger's investing approach and life advice is always interesting， but I think I would have been better off just reading Buffett's annual letters as opposed to a second hand telling that this book provides。 Reading about Buffett and Munger's investing approach and life advice is always interesting， but I think I would have been better off just reading Buffett's annual letters as opposed to a second hand telling that this book provides。 。。。more

John Galipeau ，

Fascinating look at the BH Annual Meeting through the years。

Fen ，

Although there were many great insights to improve your mindset about the market， I think the information is too shallowed and repetitive。 Plus， the format is terrible for representing Buffet and Munger’s knowledge。

Behrouz Afshari Vafa ，

Many good lessons from the proven all times investors

Roger ，

These authors have collected most of the wisdom and operating rules presented in the Berkshire Annual Reports meetings from 1989 to 2017。 Each year's information is presented in a way that helps us learn how Berkshire and the authors use those practices to improve their business。There is a lot of information presented in how Buffet and Munger lead the businesses they own。 It would be hard not to consider the practices Berkshire uses would feel like money will be left on the table。 These authors have collected most of the wisdom and operating rules presented in the Berkshire Annual Reports meetings from 1989 to 2017。 Each year's information is presented in a way that helps us learn how Berkshire and the authors use those practices to improve their business。There is a lot of information presented in how Buffet and Munger lead the businesses they own。 It would be hard not to consider the practices Berkshire uses would feel like money will be left on the table。 。。。more

Sean Nguyen ，

To be honest， this book presents Buffet's ideas in a terrible format。It goes year by year， each year author decides to choose some random point to note down arbitrarily at best。 So if you looking for a distinct set of Buffet's knowledge， you can't there are just too many duplications between years， and the author gives each of the duplication ideas 1 small paragraph， hence none of the ideas have any depth in it。 To be honest， this book presents Buffet's ideas in a terrible format。It goes year by year， each year author decides to choose some random point to note down arbitrarily at best。 So if you looking for a distinct set of Buffet's knowledge， you can't there are just too many duplications between years， and the author gives each of the duplication ideas 1 small paragraph， hence none of the ideas have any depth in it。 。。。more

Gregg ，

There are a few really good tidbits in here but the author also repeats quite a bit。 There is no secret formula to Buffer and Munger， they read all day and invest to the exclusion of all else。 I find it interesting nobody attributes the wild success to that。

Pyry Takala ，

Good overview of Berkshire annual meetings。Highlights for me:Berkshire has been very big on insurance and banksKeep investing and your company simpleZero interests can change the picture in ways that are unexpectedStrong brands like Coke and Heinz can last a centuryBerkshire today is likely not very dependent on BuffettFind companies where you really trust the managementInsurance float can be amazing for financing investments

Stephen End ，

Required readingYikesWish I had read this book sooner。 The insight to the minds of Munger and Buffet as you traverse their 30 plus years of reports helps me rethink my own investment strategy。The big surprise is the sprinkling of humor which rivals ant standup comedians Enjoy and learn

Kristaps ，

For big fans of Buffett。 Otherwise， rather repetitive reading。 Still worth it but repetitive。 Endured through this book at 2X speed over multiple jogging sessions。

Ugh ，

Quite repetitive， and rather shallow， but there are some good pointers。Probably the most interesting thing was how Berksire Hathaway differs from what most investment funds or private portfolios can do due to its ability to purchase whole companies and act as a cross-funding conglomerate， especially using the "float" from its insurance companies。 That is， BH does something you probably can't， and fund managers can't。 Happily given the chief investment concern of today， there's also a little disc Quite repetitive， and rather shallow， but there are some good pointers。Probably the most interesting thing was how Berksire Hathaway differs from what most investment funds or private portfolios can do due to its ability to purchase whole companies and act as a cross-funding conglomerate， especially using the "float" from its insurance companies。 That is， BH does something you probably can't， and fund managers can't。 Happily given the chief investment concern of today， there's also a little discussion about protecting your portfolio from inflation。 Tl;dr is: it's hard， but the best approach is probably to buy companies with low costs and strong ability to raise prices。Also interesting was a note that Buffet flipped from investing in companies with very low capital requirements to ones that are much more capital-intensive， presumably as Berkshire got more and more cash reserves to put to use。 It seemed to be that his thinking was that Berkshire's ability to out-invest damn near everyone else would pay off， but this was one of those areas that was handled rather briefly and would have benefited from more exploration from the authors。 。。。more

Larry ，

If you are a fan of Buffett and Munger， this is as close to being at 30 years of annual shareholder meetings as you can get。

Yugal Jindle ，

Essentially the Notes of the author when witnessing all the Berkshire meetings。Disappointed where even the author will agree me， because Warren goes in deep insights responding to even benign questions。 The author's observation essentially washed away the insights。At best， I got some pointers where I was surprised oh didn't know warren had x about y。 I would much rather listen to the meetings themselves， and take away a lot more。 Essentially the Notes of the author when witnessing all the Berkshire meetings。Disappointed where even the author will agree me， because Warren goes in deep insights responding to even benign questions。 The author's observation essentially washed away the insights。At best， I got some pointers where I was surprised oh didn't know warren had x about y。 I would much rather listen to the meetings themselves， and take away a lot more。 。。。more

Ashish Pisey ，

needed financial analysis details but only ideological / physlophical concepts are introduced

Sabura ，

Definitely thought there would be more substance to this book。

Srujan ，

Well written summary from the meetings of Berkshire Hathaway annual meetings。 Learnt about the perspective and thought process of Warren and Munger around that time。

Federico ，

An incredibile view into Berkshire meetings and Buffet/Munger insights & views for the past 30 years， in a summarized， entertaining and easy to read book。 Highly recommend it。

Owais Ahmed Mohyal ，

Great read。 Suns of annual letters really wellSome repetitive messages

Robert Gebhardt ，

I enjoyed this a lot more than I thought I would。 The authors do a great job of summarizing what Buffett and Munger say， not skipping the pithy and entertaining asides and remarks。 Just a few of my notes:A good investment is a company with a product that costs 10 cents， sells for a dollar， and is habit forming。 People get into much more trouble with a sound premise than an unsound premise。example: If I offered you Alaska beachfront property， you could dismiss this out of hand as nonsense。 If I r I enjoyed this a lot more than I thought I would。 The authors do a great job of summarizing what Buffett and Munger say， not skipping the pithy and entertaining asides and remarks。 Just a few of my notes:A good investment is a company with a product that costs 10 cents， sells for a dollar， and is habit forming。 People get into much more trouble with a sound premise than an unsound premise。example: If I offered you Alaska beachfront property， you could dismiss this out of hand as nonsense。 If I recommended Florida beachfront property， you might have an interest since the premise is sound。 Yet many people have lost their shirts buying Florida land。 "If investors only had to study the past， the richest people would be librarians"Just investing in whatever BH invests in wouldn't work。 One example: BH bought General RE in a stock sale， meaning it lowered its stake in Coca-cola （and other companies） by 18%， with no leveraging and no capital gains tax。 On the other hand， another year BH bought a lot of Coca-Cola stock， and 80% of Coke's sales were in currencies other than the dollar， so this allowed BH to basically short the dollar。 。。。more

Soham ，

great book

Reference

google book https://www.google.com/search?tbm=bks&q=University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting

hathitrust digital library https://babel.hathitrust.org/cgi/ls?q1=University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting&field1=ocr&a=srchls&ft=ft&lmt=ft

The British Library https://bll01.primo.exlibrisgroup.com/discovery/search?query=any,contains,University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting&tab=LibraryCatalog&search_scope=Not_BL_Suppress&vid=44BL_INST:BLL01&lang=en&offset=0