TIP443: Buffett's Biggest Blunders w/ David Kass
IN THIS EPISODE, YOU'LL LEARN:
- 09:47 - The story of how Buffett bought Berkshire after letting his emotions get the best of him and why it was originally a huge mistake.
- 15:04 - How he could have made hundreds of billions more had he simply invested in insurance.
- 20:49 - His position in Conocophillips that resulted in a loss and how even through all of that, 1 single dollar invested with Buffett in 1965 would now be worth $3.65M
- 23:00 - Why buying Dexter Shoes was, in Buffett's words, the worst purchase he ever made.
- 30:42- How he missed out on Google, Amazon, and others
- 41:29 - His overpayment for Precision Castparts.
- And a whole lot more!
*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.
BOOKS AND RESOURCES:
- David’s Blog on Warren Buffett
- David Kass Twitter.
- Supermoney Book.
- Trey Lockerbie Twitter.
- Preston, Trey & Stig’s tool for picking stock winners and managing our portfolios: TIP Finance Tool.
- New to the show? Check out our We Study Billionaires Starter Packs.
- Find people with the right experience and invite them to apply to your job. Try ZipRecruiter for FREE today.
- Find Pros & Fair Pricing for Any Home Project for Free with Angi.
- Invest in the $1.7 trillion art market with Masterworks.io. Use promo code WSB to skip the waitlist.
- Have a business checking that’s built for you, will go the distance with you, and admires your brave - Novo. The Investor’s Podcast Network listeners get access to over $5,000 in perks and discounts.
- Buying or selling Gold is as easy as buying a stock with Vaulted. No minimum investment required.
- Updating your wardrobe or just simply looking for a new fall flannel? Head to Mizzen+Main and use promo code WSB to receive $35 off an order of $125 or more!
- Send, spend and receive money around the world easily with Wise.
- Learn about the next big thing – months before everyone else with Trends. Start your 7-day trial today for just $1.
- Canada’s #1 employee benefits plan for small businesses! The Chambers Plan evolves with the way you work and live while keeping the rates stable. Opt for the simple, stable, and smart choice for your business.
- Live local in Melbourne and enjoy $0 Stamp Duty*!
- The interval fund, a breakthrough innovation. Only at Mackenzie.
- Balancing opportunity and risk? The golden answer can be literally gold! Start your investment journey today with Perth Mint.
- Confidently take control of your online world without worrying about viruses, phishing attacks, ransomware, hacking attempts, and other cybercrimes with Avast One.
- Gain the skills you need to move your career a level up when you enroll in a Swinburne Online Business Degree. Search Swinburne Online today.
- Design is already in your hands with Canva. Start designing for free today.
- Invest in crypto and trade it without tax headaches with AltoIRA.
- Browse through all our episodes (complete with transcripts) here.
- Support our free podcast by supporting our sponsors.
HELP US OUT!
Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!