0:00– Introduction

2:43– How Buffett has influenced our investing journey

14:34– Our favorite Buffett investments

27:35– Berkshire under Greg Abel 

40:58– Berkshire highlights and mistakes over the years

44:42– Mailbag: What if Buffett starts today?

49:55– Mailbag: Could Berkshire be broken up? 

52:51– Mailbag: Berkshire's valuation today​

The end of an era: With Warren Buffett's retirement, Barry and Ernest discuss lessons and highlights from his career and speculate how Berkshire might evolve under new CEO Greg Abel. 

0:00 – Introduction

2:05 – Impact on tariffs on markets

5:20 – How companies respond to tariffs

11:58 – Service companies tend to be more protected from macroevents

14:05 – Uncertainty of investing in equities

16:45 – Importance of balance sheet health

21:25 – The risks of using margin

25:27 – How we define portfolio diversification 

33:50 – Why we don't predict macro

35:53 – Finding high quality businesses during the market pullback