Buffett and Munger Unscripted: A Conversation with Alex Morris
Alex Morris, friend of the show (and IRL), author of TSOH Investment Research stops by to discuss his new book "Buffett and Munger Unscripted." The book offers three decades of insights from Berkshire Hathaway shareholder meetings, grouped by topic area to provide a coherent understanding of Warren Buffett and Charlie Munger's investment wisdom.
Alex shares his experience writing the book, including the extensive work involved and his communication with Berkshire. They also discuss various investment philosophies, the importance of transparency in investment research, and the challenges faced by consumer brands in today's market.
Further, they reflect on the impact and potential risks of long-term investments in businesses like Dollar Tree and the complexities of analyzing brands like Jack Daniels.
00:00 Welcome to the Business Brew
00:06 Introducing Alex Morris and His New Book
02:02 Personal Anecdotes and Family Stories
05:15 The Journey of Writing the Book
12:23 Insights on Buffett and Munger's Investment Strategies
28:53 Discussion on Dollar Stores and Retail Landscape
34:19 Analyzing Dollar Tree's Market Position
36:06 The Value Proposition of Dollar Stores
38:08 Comparing Retail Strategies
39:23 Brand Value and Pricing Power
41:14 Consumer Brands and Retail Dynamics
44:27 Investment Strategies and Portfolio Management
49:11 The Philosophy of Investing
55:01 The Business of Writing and Publishing
01:00:44 Reflections and Future Plans
Om Podcasten
Welcome to The Business Brew
This podcast’s mission is to dig deep into the thought patterns and analysis of investors and business people. The podcast stemmed from Bill Brewster consistently feeling like he was listening to prepackaged material while listening to podcasts. Instead, he wanted long form, in depth, discussions about finance, capital allocation, and the psychology of investing/business.
Bill is a private investor. He cohosts the podcast Value: After Hours with Tobias Carlisle and Jake Taylor. Tobias, Jake and Bill met at a Berkshire Hathaway meeting and formed a lasting friendship. And, as it turns out, people really like the podcast.
While Bill tries to replicate Warren Buffett and Charlie Munger’s thought processes, he is heavily influenced by Bill Miller III, Stan Druckenmiller, and others. This podcast is his attempt to dig deeper into other investing/business philosophies and share the knowledge with the world.
We are interested in interviewing portfolio managers, Wall Street sell side analysts, buy side analysts, private investors, owner operators, and anyone that is willing to go in depth about running a company/division. So, if you are interested in participating please email us with the subject “Guest Appearance.”
Disclaimer: Bill manages a portfolio under the name of Sullimar Capital Group. This podcast is for informational and educational purposes only. Nothing in this podcast or on SullimarCapital.Group is investment advice. All information in this is opinion based, potentially biased, and requires verification.
Bill and his guests make no representation, warranty or undertaking, express or implied, as to the accuracy, reliability, completeness or reasonableness of the information contained in these podcasts. Any assumptions, opinions and estimates expressed constitute the participant’s judgment as of the date thereof and are subject to change without notice. Any projections contained in the information are based on a number of assumptions as to market conditions and there can be no guarantee that any projected outcomes will be achieved. This podcast does not accept any liability for any direct, consequential or other loss arising from reliance on the contents of this presentation.
This podcast series DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICIATION OF AN OFFER TO BUY ANY SECURITIES MENTIONED OR DISCUSSED. Seek the your financial, tax, legal, accounting, or other advisor’s advice before making any investment decisions. We are not your fiduciary or advisor.