IN THIS EPISODE, INVESTMENT TOPICS COVERED INCLUDES:

• Circle of Competence
• Buffett’s purchase of Apple
• Phil Town’s Canyon Analogy
• Capital Allocation via Circle of Competence
• Mitigating Risk with a Circle of Competence
• 6 Zones of the Investment Canyon

EPISODE RESOURCES:

• Read the article that inspired this podcast: In Praise of Phil Town's Canyon Analogy. Finding your Circle of Competence.

OTHER RESOURCES FROM VALUE THOUGHT INVESTING:

• Download the FREE Value Thought Stock Analysis Tool
• Visit the Value Thought Website
• Subscribe for the Value Thought Investment Newsletter 
• Read the Value Thought Investment Blog
• Visit the Value Thought YouTube Channel
• Join the Value Thought community at the Value Thought Facebook Group

SUBSCRIBE

• Subscribe to the Value Thought Investment Podcast

HAVE A QUESTION?

• Send me an email at [email protected]
• Or visit the contact page at Value Thought: https://valuethoughtinvesting.com/contact/ 

DISCLAIMER

• Please make sure to complete the following: 
  Do your own research when investing, and then do some more.  The content provided here is intended to be used and must be used for entertainment and educational purposes only.  It is very important to do your own analysis before making any investment based on your own mental models and personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you gather from Value Thought Investing and wish to rely upon, whether for the purpose of making an investment decision or otherwise.  

Thank you for listening, and remember to stay fundamentally thoughtful.

IN THIS EPISODE, INVESTMENT TOPICS COVERED INCLUDES:

• BRK Historic Share Buybacks
• When a company should buyback shares
• Assessing if BRK was cheap
• Valuation via Price-to-Book Value
• Valuation via EBT Yield to AAA Bond Yield Multiplier
• Why BRK had made no previous buybacks
• Is the stock market overvalued?
• Hedging with Gold
• Why Buffett won’t pay dividends
• The future of Buybacks at BRK

EPISODE RESOURCES:

• Read the article that inspired this podcast: Buffett has bought back nearly $42 billion in shares… and I think I know why.

OTHER RESOURCES FROM VALUE THOUGHT INVESTING:

• Download the FREE Value Thought Stock Analysis Tool
• Visit the Value Thought Website
• Subscribe for the Value Thought Investment Newsletter 
• Read the Value Thought Investment Blog
• Visit the Value Thought YouTube Channel
• Join the Value Thought community at the Value Thought Facebook Group

SUBSCRIBE

• Subscribe to the Value Thought Investment Podcast

HAVE A QUESTION?

• Send me an email at [email protected]
• Or visit the contact page at Value Thought: https://valuethoughtinvesting.com/contact/ 

DISCLAIMER

• Please make sure to complete the following: 
  Do your own research when investing, and then do some more.  The content provided here is intended to be used and must be used for entertainment and educational purposes only.  It is very important to do your own analysis before making any investment based on your own mental models and personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you gather from Value Thought Investing and wish to rely upon, whether for the purpose of making an investment decision or otherwise.  

Thank you for listening, and remember to stay fundamentally thoughtful.

IN THIS EPISODE, INVESTMENT TOPICS COVERED INCLUDES:

• Efficient Market Hypothesis
• Unique Investors vs. an Average Investor
• Auction Market
• Business Consultant’s Market
• Analyst vs. Business Owner
• Business Ownership
• Owning a Piece of Paper (stock)
• Retail Arbitrage & Value Investing
• Valuing in one market
• Selling in another market

EPISODE RESOURCES:

• Read the article that inspired this podcast: Is Retail Arbitrage Value Investing?

OTHER RESOURCES FROM VALUE THOUGHT INVESTING:

• Download the FREE Value Thought Stock Analysis Tool
• Visit the Value Thought Website
• Subscribe for the Value Thought Investment Newsletter 
• Read the Value Thought Investment Blog
• Visit the Value Thought YouTube Channel
• Join the Value Thought community at the Value Thought Facebook Group

SUBSCRIBE

• Subscribe to the Value Thought Investment Podcast

HAVE A QUESTION?

• Send me an email at [email protected]
• Or visit the contact page at Value Thought: https://valuethoughtinvesting.com/contact/ 

DISCLAIMER

• Please make sure to complete the following: 
  Do your own research when investing, and then do some more.  The content provided here is intended to be used and must be used for entertainment and educational purposes only.  It is very important to do your own analysis before making any investment based on your own mental models and personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you gather from Value Thought Investing and wish to rely upon, whether for the purpose of making an investment decision or otherwise.  

Thank you for listening, and remember to stay fundamentally thoughtful.

IN THIS EPISODE, INVESTMENT TOPICS COVERED INCLUDES:

• 10 Biggest Utility Stocks
• Capital Allocation
• Utility Stocks and Dividends
• Free Cash Flow Analysis
• CapEx-to-Sales Ratio Analysis
• Internal vs. External Source of Capital
• Companies Stuck in a Dividend Trap
• Return of Equity & Return on Invested Capital
• Investing in Utilities as a Cigar Butt (Old School Value)

EPISODE RESOURCES:

• Read the article that inspired this podcast: The Trouble with Utilities: Why I Don’t Invest in Utility Stocks

OTHER RESOURCES FROM VALUE THOUGHT INVESTING:

• Download the FREE Value Thought Stock Analysis Tool
• Visit the Value Thought Website
• Subscribe for the Value Thought Investment Newsletter 
• Read the Value Thought Investment Blog
• Visit the Value Thought YouTube Channel
• Join the Value Thought community at the Value Thought Facebook Group

SUBSCRIBE

• Subscribe to the Value Thought Investment Podcast

HAVE A QUESTION?

• Send me an email at [email protected]
• Or visit the contact page at Value Thought: https://valuethoughtinvesting.com/contact/ 

DISCLAIMER

• Please make sure to complete the following: 
  Do your own research when investing, and then do some more.  The content provided here is intended to be used and must be used for entertainment and educational purposes only.  It is very important to do your own analysis before making any investment based on your own mental models and personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you gather from Value Thought Investing and wish to rely upon, whether for the purpose of making an investment decision or otherwise.  

Thank you for listening, and remember to stay fundamentally thoughtful.

IN THIS EPISODE, INVESTMENT TOPICS COVERED INCLUDES:

• Capital Allocation
• Core business feeding poor expansions
• Amazon as a “spawning” business
• Financial alchemy 
• 2 rules for success in acquisitions
• Poor economics of early Berkshire
• Transformed economics of modern Berkshire 

EPISODE RESOURCES:

• Read the letter: Link to Buffett's 1984 Letter to Shareholders
• Read the article that inspired this podcast: Buffett's 1984 Letter (Part 8)

OTHER RESOURCES FROM VALUE THOUGHT INVESTING:

• Download the FREE Value Thought Stock Analysis Tool
• Visit the Value Thought Website
• Subscribe for the Value Thought Investment Newsletter 
• Read the Value Thought Investment Blog
• Visit the Value Thought YouTube Channel
• Join the Value Thought community at the Value Thought Facebook Group

SUBSCRIBE

• Subscribe to the Value Thought Investment Podcast

HAVE A QUESTION?

• Send me an email at [email protected]
• Or visit the contact page at Value Thought: https://valuethoughtinvesting.com/contact/ 

DISCLAIMER

• Please make sure to complete the following:
  Do your own research when investing, and then do some more.  The content provided here is intended to be used and must be used for entertainment and educational purposes only.  It is very important to do your own analysis before making any investment based on your own mental models and personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you gather from Value Thought Investing and wish to rely upon, whether for the purpose of making an investment decision or otherwise.  

Thank you for listening, and remember to stay fundamentally thoughtful.

IN THIS EPISODE, INVESTMENT TOPICS COVERED INCLUDES:

• Restricted vs Unrestricted Earnings
• Disbursement of Unrestricted Funds
• The mythical bond example
• Downfall of the Dividend Trap
• Banking example of Return of Capital
• Duality of CEO rationale 
• The multi-divisional company example
• CEOs who follow the crowd

EPISODE RESOURCES:

• Read the letter: Link to Buffett's 1984 Letter to Shareholders
• Read the article that inspired this podcast: Buffett's 1984 Letter (Part 7)

OTHER RESOURCES FROM VALUE THOUGHT INVESTING:

• Download the FREE Value Thought Stock Analysis Tool
• Visit the Value Thought Website
• Subscribe for the Value Thought Investment Newsletter 
• Read the Value Thought Investment Blog
• Visit the Value Thought YouTube Channel
• Join the Value Thought community at the Value Thought Facebook Group

SUBSCRIBE

• Subscribe to the Value Thought Investment Podcast

HAVE A QUESTION?

• Send me an email at [email protected]
• Or visit the contact page at Value Thought: https://valuethoughtinvesting.com/contact/ 

DISCLAIMER

• Please make sure to complete the following:
  Do your own research when investing, and then do some more.  The content provided here is intended to be used and must be used for entertainment and educational purposes only.  It is very important to do your own analysis before making any investment based on your own mental models and personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you gather from Value Thought Investing and wish to rely upon, whether for the purpose of making an investment decision or otherwise.  

Thank you for listening, and remember to stay fundamentally thoughtful.

IN THIS EPISODE, INVESTMENT TOPICS COVERED INCLUDES:

• Diversification
• 20 Punch Card Investing
• Theory of Portfolio Diversification
• Diminishing marginal risk reduction
• Diversification over time
• Random diversification VS Focused Diversification
• 1984 macroeconomic conditions
• Bottom-up analysis
• All terrain equities

EPISODE RESOURCES:

• Read the letter: Link to Buffett's 1984 Letter to Shareholders
• Read the article that inspired this podcast: Buffett's 1984 Letter (Part 6)

OTHER RESOURCES FROM VALUE THOUGHT INVESTING:

• Download the FREE Value Thought Stock Analysis Tool
• Visit the Value Thought Website
• Subscribe for the Value Thought Investment Newsletter 
• Read the Value Thought Investment Blog
• Visit the Value Thought YouTube Channel
• Join the Value Thought community at the Value Thought Facebook Group

SUBSCRIBE

• Subscribe to the Value Thought Investment Podcast

HAVE A QUESTION?

• Send me an email at [email protected]
• Or visit the contact page at Value Thought: https://valuethoughtinvesting.com/contact/ 

DISCLAIMER

• Please make sure to complete the following:
  Do your own research when investing, and then do some more.  The content provided here is intended to be used and must be used for entertainment and educational purposes only.  It is very important to do your own analysis before making any investment based on your own mental models and personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you gather from Value Thought Investing and wish to rely upon, whether for the purpose of making an investment decision or otherwise.  

Thank you for listening, and remember to stay fundamentally thoughtful.

IN THIS EPISODE, INVESTMENT TOPICS COVERED INCLUDES:

• Reevaluation of past losses
• One-time events vs. A deteriorating trend
• Analyzing expenses and future effects
• Comparison Valuation
• Berkshire Hathaway’s simple investing strategy
• Buffett’s Yield Requirements on WPPSS Bonds
• EBT yield hurdle rates
• Creating a valuation formula from scratch
• Real life example with Google (Ticker GOOG)

EPISODE RESOURCES:

• Read the letter: Link to Buffett's 1984 Letter to Shareholders
• Read the article that inspired this podcast: Buffett's 1984 Letter (Part 5)

OTHER RESOURCES FROM VALUE THOUGHT INVESTING:

• Download the FREE Value Thought Stock Analysis Tool
• Visit the Value Thought Website
• Subscribe for the Value Thought Investment Newsletter 
• Read the Value Thought Investment Blog
• Visit the Value Thought YouTube Channel
• Join the Value Thought community at the Value Thought Facebook Group

SUBSCRIBE

• Subscribe to the Value Thought Investment Podcast

HAVE A QUESTION?

• Send me an email at [email protected]
• Or visit the contact page at Value Thought: https://valuethoughtinvesting.com/contact/ 

DISCLAIMER

• Please make sure to complete the following:
  Do your own research when investing, and then do some more.  The content provided here is intended to be used and must be used for entertainment and educational purposes only.  It is very important to do your own analysis before making any investment based on your own mental models and personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you gather from Value Thought Investing and wish to rely upon, whether for the purpose of making an investment decision or otherwise.  

Thank you for listening, and remember to stay fundamentally thoughtful.

IN THIS EPISODE, INVESTMENT TOPICS COVERED INCLUDES:

• Downside Risk
• Asymmetric Returns
• Mohnish Pabrai’s “Free Lottery Ticket”
• Calculating Weighted Probabilities 
• Gambling vs. Investing
• Stock Market Data vs. Business Data
• Leaving your wife, husband, or partner example
• Market noise and active investing
• Market noise and passive investing

EPISODE RESOURCES:

• Read the letter: Link to Buffett's 1984 Letter to Shareholders
• Read the article that inspired this podcast: Buffett's 1984 Letter (Part 4)

OTHER RESOURCES FROM VALUE THOUGHT INVESTING:

• Download the FREE Value Thought Stock Analysis Tool
• Visit the Value Thought Website
• Subscribe for the Value Thought Investment Newsletter 
• Read the Value Thought Investment Blog
• Visit the Value Thought YouTube Channel
• Join the Value Thought community at the Value Thought Facebook Group

SUBSCRIBE

• Subscribe to the Value Thought Investment Podcast

HAVE A QUESTION?

• Send me an email at [email protected]
• Or visit the contact page at Value Thought: https://valuethoughtinvesting.com/contact/ 

DISCLAIMER

• Please make sure to complete the following: 
  Do your own research when investing, and then do some more.  The content provided here is intended to be used and must be used for entertainment and educational purposes only.  It is very important to do your own analysis before making any investment based on your own mental models and personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you gather from Value Thought Investing and wish to rely upon, whether for the purpose of making an investment decision or otherwise.  

Thank you for listening, and remember to stay fundamentally thoughtful.

IN THIS EPISODE, INVESTMENT TOPICS COVERED INCLUDES:

• Business Economics of the Specialty Candy Industry
• See’s Candies
• Inelastic demand
• Expense management
• Durable Competitive Advantage examples
• Economies of scale
• Key metric to measure: Cost-per-Pound
• Creating a profitability formula
• Business Economics of the Newsprint Industry
• The Buffalo News
• Unions and Investing
• Regional newspaper’s competitive edge
• Key metric to measure: News Hole Ratio

EPISODE RESOURCES:

• Read the letter: Link to Buffett's 1984 Letter to Shareholders
• Read the article that inspired this podcast: Buffett's 1984 Letter (Part 3)

OTHER RESOURCES FROM VALUE THOUGHT INVESTING:

• Download the FREE Value Thought Stock Analysis Tool
  
  
  
• Visit he Value Thought Website
  
  
  
• Subscribe for the Value Thought Investment Newsletter 
  
  
  
• Read the Value Thought Investment Blog
  
  
  
• Visit the Value Thought YouTube Channel
  
  
  
• Join the Value Thought community at the Value Thought Facebook Group
  
  
  

SUBSCRIBE

• Subscribe to the Value Thought Investment Podcast

HAVE A QUESTION?

• Send me an email at [email protected]
• Or visit the contact page at Value Thought: https://valuethoughtinvesting.com/contact/ 

DISCLAIMER

• Please make sure to complete the following: 
  Do your own research when investing, and then do some more.  The content provided here is intended to be used and must be used for entertainment and educational purposes only.  It is very important to do your own analysis before making any investment based on your own mental models and personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you gather from Value Thought Investing and wish to rely upon, whether for the purpose of making an investment decision or otherwise.  

Thank you for listening, and remember to stay fundamentally thoughtful.