1985 Buffett and Templeton interviews

[Liberty]

 

(Sorry if it was posted before)

[tede02]

I watched this last night. It's absolutely priceless.

 

A few thoughts come to mind. I just have to believe the investing environment is much tougher today because of competition. John Templeton talks of buying companies at 2, 3, or 4 times earnings. Those opportunities seem much, much more rare today. I presume it's because not only are there many more people looking for these opportunities, but all the damn algorithms. 

 

That being said, there is so much more noise in today's world with 24-7 news and the internet. Part of me thinks all the noise is to the advantage of those who can basically ignore it. The noise leads 99% of people astray.  If you can focus on what actually matters and try to limit your mistakes, you have an advantage.

 

Buffett has this magical way of cutting straight through the fog. The clarity in which he disccusses investing and what actually matters is simply second to none. 

[Guest longinvestor]

I watched this last night. It's absolutely priceless.

 

A few thoughts come to mind. I just have to believe the investing environment is much tougher today because of competition. John Templeton talks of buying companies at 2, 3, or 4 times earnings. Those opportunities seem much, much more rare today. I presume it's because not only are there many more people looking for these opportunities, but all the damn algorithms. 

 

That being said, there is so much more noise in today's world with 24-7 news and the internet. Part of me thinks all the noise is to the advantage of those who can basically ignore it. The noise leads 99% of people astray.  If you can focus on what actually matters and try to limit your mistakes, you have an advantage.

 

Buffett has this magical way of cutting straight through the fog. The clarity in which he disccusses investing and what actually matters is simply second to none.

 

Cobf is not immune to the noise ;) But then, just look at the kind of returns reported on the 2017 performance poll; This haystack is all needles. Just read the posts around here carefully, but make up your own mind.

[Voodooking]

Excellent. Thanks for posting this.

 

It's amazing how many of the things Buffett says in 1985 are the same things he also said in 2017!

[Voodooking]

Another good one...

 

 

[chrispy]

Great videos, thank you for sharing. And yes voodooking, he still says the same things...

 

It really reinforces how his way of doing business has never and will never stop producing good results. The hard part is to follow it.

 

I thought it was also interesting that Templeton also prefers investing while not physically being in NYC.

[randomep]

 

I wonder what they would say about TSLA and bitcoin?

[Voodooking]

Buffett and Munger have both spoken out on Bitcoin. Both have been very negative about it, and described it as a bubble with no intrinsic measure of value to back it up. Both said they would avoid and wouldn't even waste any time thinking about it. Munger also expressed concern that even though 'Bitcoinists' have said there are a finite amount of them, there is nothing to stop someone creating more in the future. Also, not to do it because "even if it works, it's a bad thing because it will lead you to believe in it and lose money next time..."

 

I completely agree with them both on Bitcoin / crypto currency.

 

On Tesla, to my knowledge, Buffett has never spoken publically about the company. Munger has said that (I paraphrase): "I think Musk is a genius, and I don't use that term lightly! However, I'm always wary of someone who's IQ is 140 and they think it's 180. I'd rather it was 140 and they think it's 130, and act accordingly".

 

Personally, I think Musk is such an incredible visionary, and people like him don't come along very often in a generation. I think he's done a fantastic job in his aim to accelerate the transition to sustainable energy production and consumption, and even though I know it's complete (rational) speculation, I am happy to have invested in Tesla.