Transcript
Introduction
Patrick
Today's business needs little introduction. Berkshire Hathaway is one of the largest businesses in the world and run by arguably the most famous investors of our time, Warren Buffett and Charlie Munger. To break down the business, I'm joined by Chris Bloomstran. Chris is the president and CIO of Semper Augustus, and has gone as deep on Berkshire as anyone I've ever encountered, making him the perfect person to do this with. Given the reams of excellent content already out there about Buffett and Berkshire. We focused our conversation on the specific elements that make the business so special. Please enjoy this breakdown of Berkshire Hathaway.
What Makes Berkshire So Special
Patrick
So Chris, we are going to try to tackle one of everyone's favorite topics with a variety of little case studies. Rather than tell the whole history of Berkshire or try to describe it in its entirety, which so many great books and podcasts and other things have done in the past, we'll try to focus on some very specific aspects of what make Berkshire so special, and try to pull investing lessons out of the many activities of this fascinating company and set of investors, Buffett most specifically, and I thought an interesting place to start would be float. People talk about float a lot as it relates to Berkshire. It requires that we talk about insurance. It requires that we talk about the team behind all this and how it relates to the investing side of the business or the ownership side of the business. Maybe you can begin by just describing what Berkshire has taught the world about float and why it is so interesting and versatile.