If you've considered trying out Qualtrim, today is the day to do it. If you join now you won't pay anything for the full month. Sign up here for the free trial: www.patreon.com/josephcarlson I think you will love it, we have a growing number of users and I am investing a lot of money and energy into improving the platform.
Only if I had more time to play around in the market, retirement is around the corner and my primary concern is how to grow my reserve of $320k which has been sitting duck since forever with zero to no gains, I'm having serious anxiety.
I believe you should contact a portfolio manager, someone who was active before to the 2008 crisis and other similar crashes; that's your greatest chance for profit and survival through this recession.
I agree with you Luca, I have been pretty much on the sideline observing for awhile, figuring out the best strategy to get in, until I came by a coach, commended by a pundit on Reddit, reluctant at first but I went ahead and reached the coach, long story short, it's over 3years+ and I've made over 1.6million simply following the guidance of my coach.
@@drew6651 My 401k has lost all it earned since the beginning of 2020. I wouldn't mind checking into the adviser who assists you; I feel that earning more is the greatest method to overcome the recession and inflation.
I think the goverment is trying to discourage the bad buybacks, ie. buyback with borrowed money to boast EPS, and buyback at over-valued prices. Buffet's buybacks are at under-value prices, and with cash on hand.
I'm trying to practice the art of doing nothing, and it's the hardest thing when it comes to investing to do I feel. I see something drop big time that I like more than something else I'm holding, I'll rotate out into the new company. I beat the S&P 500 last year by around 6%, and I take that as a win. But I need to follow in his mindset of holding things more long term. Something runs up quickly, sit on it instead of just moving out of it.
Joseph, I really appreciate your focus on honest and dishonest accounting. I think that this is something that so many investors miss, myself included. Please keep this focus, I believe that this is a moat for you on youtube in the investor space as no one really seems to highlight this. You've just earned me as a subscriber.
Qualtrim portfolio tracker and Insights are fantastic. Finally decided to try it, figure out how to input data, and love it. Less difficult than I assumed. Thank you for your service sir.
Great episode Joseph. I've definitely been balancing out my portfolio through this downturn. Adding a lot more compounders and getting away from companies that are massively diluting.
Hi Joseph, thank you for your wonderful analysis! Really insightful. You really lived up to the expectation you made at the start to translate the Buffet statements.
Loved this episode! One of my favourite! Thank you!! May I suggest maybe to try and do a "focus" video on his "sells?buys restrospective? The more Buffer the merrier x) Thank you as usual! Lovin' the process!
The difference is: Buffet earns money with his investments. Wood earns money from her followers. She does not need to care if her investments make profit. She only needs to sell her story.
Buffet wins because he doesn't overpay, regardless of how good the company is he has a fair value, what he has estimated the intrinsic value to be and he doesn't pay over that value. "Whether we’re talking about socks or stocks, I like buying quality merchandise when it is marked down" Warren Buffett
I recently purchased some ETFs. Saving for a market fall is also a bad idea. There are different perspectives on recessions and depressions; we cannot always expect significant rewards; and taking risks is preferable to doing nothing. The bottom line is that by diversifying your portfolio and making sensible judgments, you will accomplish exceptional outcomes. In 2022, my portfolio returned $608,500.
You’re right! The current market might give opportunities to maximize profi.t, but in order to execute such effective transactions, you must be a skilled practitioner
@Lloyd Bernard This is useful information; I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
Joel Greenblatt compounded ~40% for 20 years multiplying +800 times his client's money. The thing about Buffet is that he manages hundreds of billions so of course he can't get mind blowing returns now but I'm sure he would compound+40% if he only had a couple of billions to manage
He did mention that he can easily make 50%+ a year given if he only had a few million to manage in one of Berkshire’s annual shareholder meeting quite a few years back
I began accumulating wealth when I started following up my investment properly, The value of expert mentorship cannot be overstated. Without proper mentoring, people tend to make mistakes and loose money. This is why I prefer to invest with Juliann Hart because her methods are unique and extremely profitable-
Overtime I have come across people earning consistent returns with the assistance of a professional manager but how do I find one? This is something that piques my interest-
I invest with Juliann Hart. She's the best when it comes to making gains in the financial market she's well accredited and proficient to help beginners through managing your investments-
Thank you for emphasing on the SBC through your videos...Yestereday I was looking at the Tyson Food financial statements and noted that they add SBC to the OCF calculation.
Imagine for a moment that there’s an equity that’s as close to the risk profile as the U.S. Treasury Bond (i.e. a strong durable competitive advantage), but with a much higher coupon rate. That’s what Buffet is looking for!
Joseph, really like your videos and learn alot from your analysis. I would love to hear a deeper dive on share buybacks. This was an activity that was not legal until the 80's and I wonder about the overall impact to the economy they have caused. With so many executives looking quarter to quarter instead of focusing on long term success due to their stock based compensation, I wonder if they really had to find a way for that money to work if their results might be better. This is also money that could be invested into employee compensation and improving the talent pool of the company. Stock buybacks ignore all other stakeholders other than owners. Just a thought.
Great seeing you learn more Joseph. Work on valuations and you will be a decent investor. You find great companies but buy them at elevated prices have some patience. After all the stock market is a mechanism to movie money from impatient to the patient. Have a good night.
As some who went to business school, it’s crazy to me that Warren Buffett’s mentality is what sets him apart when it’s his mentality is what’s taught in schools
This was a good call to action for me, I've been slowly trimming away any holdings that aren't represented excellently but now I want to redouble my efforts, thanks Joseph!
Buybacks can be good or very bad, and this is one of many reasons Buffett must have great faith in the skill of the management of companies he invrsts in.
My insights that I don’t hear discussed: 1) Buffet knows the value of investing in companies that sell addictive products. I include oil in this. Society’s addiction to fossil fuels. 2) Buying low is about buying when others are afraid to. Buffet knows how to be a very special kind of sentiment investor. He does it not by looking at fear and greed indices or how companies are being talked about in the news; instead he is able to read sentiment off financial statements and stock prices. To give a sense of what I mean: suppose a company has a decade long track record of slow and steady growth, but they’ve had a few relatively bad quarters and the stock is down. Buffet can be counted on to accurately discern whether the stock price is hurting more than the financial fundamentals. In other words, he understands companies and economies well enough to accurately gauge whether a warranted selloff is overdone.
Buffet’s performance can largely be explained by his exposure to risk factors such as value , and at times also to his use of leverage. He has some excellent advice , but his best advice is probably that most people are better off investing in a broad market index fund. Copying his investments or even his strategy as a whole simply won’t work for everyone as we all are investing with different life circumstances and different attitudes to risk which affects everyone’s ability to remain invested long term differently. Stay the course friends!
Most of Warren's big gains came years ago, however, he has beaten the market over every rolling ten year period. LITTLE KNOWN: Roughly half of Warren's outperformance has come from leveraging his insurance float.. something not available to individuals. However, without this leveraging he still would have made roughly 15 percent a year. Large capital is the enemy of large outperformance and Warren correctly points out that it will not be possible for Berkshire Hathaway to continue beating the market by a huge margin, though Berkshire Hathaway will be safer.
Over the last several years, you've reposted clips from "financial experts" that were on you tube and tic tok. There was one guy (I don't remember who he was) who was blasting (mocking?) Buffet, and bragging about how the performance of his portfolio was blowing Buffet's (BRK) performance out of the water. Maybe you should do a few "where are they now" videos and revisit past clips.
What I don’t understand in 18:30, why does he keep the coca cola shares, if he finds it to be the suboptimal investment for the reinvestment of the received dividends. I don’t get why coca cola is the better place to have his money than the other stock he is buying with their dividend. I am guessing he wouldn’t buy coca cola shares (especially not in that amount), if he had to invest that money, they are worth today, now. I hope someone understands what I want to say and can help me better understand.
His stock portfolio is one thing. The stock price of Berkshire is another. That is based primarily on its performance. Buffett is a great capital allocator and manager which resulted in Berkshires phenomenal return. His stock portfolio does not beat the S&P 500 but Berkshire stock has up until the last fifteen years.
In the hedge fund world, there is the legendary Medallion Fund from Renaissance Technologies that has averaged 66 percent a year (before fees) for over thirty years with one tiny losing year. You can't compare this to Buffett as Medallion is capped at 10 billion because they cannot find enough worthwhile quant edges to hold more money and the founder is worth only an estimated thirty billion.
I find Warren Buffett's position on not paying dividends to be hypocritical. He says it's ok for a company to pay a dividend when they can't invest the money to get a better return. He cites Coke as an example. Then, he sits on over $100B in cash doing nothing with it for years on end without paying a dividend while he waits for a good investment to come along, but that's somehow ok. If that's ok, then why wouldn't it be ok for Coke to stop paying a dividend and then stockpile cash while they wait for a good investment to come along? I guarantee you that Warren Buffett would not like that one bit. I also don't like the whole buyback philosophy that Warren Buffett employs. Berkshire Hathaway fans always tell people to just sell shares if they need income. They point out that buybacks increase the shareholder's stake in the company when done correctly and are superior to dividends. The problem is that's only true if you don't sell your shares. However, if you have to sell your shares in order to generate income because no dividends are paid, then you wind up reducing your stake in the company. If your only source of income to pay your expenses is to sell your shares of stock, then, since you have no other income available to replace the shares you sold, you will eventually run out of shares to sell, and therefore will eventually run out of income. That doesn't happen with dividends. I think his whole philosophy on not paying dividends is immensely hypocritical. It basically comes down to his belief that keeping the cash and doing nothing is better than giving it to shareholders who will just spend it and get no return on that cash. Nevermind that they will eventually run out of shares to sell, that's their problem. It's BS.
Something that people forget is a company has to get back the money to shareholders and always has been the best by dividends BUT Buffet do prefer (And also do I) return through buybacks, which has the compound effect. That's the point.
Little noticed is management that manages to unfairly dilute shares and give themselves far too much of their companies earnings through various machinations.
Shares outsanding is actually a superior way to look at efficient buybacks. If you just look at buyback amount, a company can issue 1 billion worth of shares, then "buy back" 1 billion, and the share count is actually flat, you did not benefit at all. But if they issue 500 million worth of shares and buy back 1 billion, you did benefit by a net 500 million of buybacks, and that's what's reflected on the shares outstanding graph. So a simple way of looking at it is the shares outstanding. If that's going up, they're diluting, if it's going down, they're doing buybacks beyond the rate of dilution.
The only people I regard as even being in the same room as Warren Buffet is Peter Lynch, and John Bogle. Even Warren's partner Charlie Munger doesn't compare. Peter Lynch's returns were great, and his book "One up on Wallstreet" is my favourite book for his type of investment strategy, there's even a free audiobook for it on TH-cam where he reads it himself. I said Jack Bogle because he understands how people should be investing and made S&P500 ETFs a thing, at a low cost for the investor.
@@williams11372 Charlie gave him a new prospective and helped him. Charlie has also made some massive mistakes. One of them was recently. Since he doesn't diversify, a mistake that big is huge.
@@williams11372 Well I told you why I think that, the first rule of value investing by Warren Buffet is don't lose money. You haven't told me why I should think differently. CM helped give WB a different prospective, but he was making 50% returns on small sums of capital before the two of them even met. You're comparing someone with 2.3b to someone with over 100b, you're the one who has to justify their viewpoint lol. It's as simple as that. 🤷♀
@@Aubatron this is the problem with people like you! You say some ignorant shit, get set straight, act like you didn't get set straight, completely change the goalpost of what you're saying, and then claim I need to disapprove some secondary nonsense 🤦♂️ Doesn't work like that nor do i care enough to play 20 goalposts. Your original statement is invalid. If you wanna pretend you said some earth shattering deep shit go nuts. Enjoy your life!
What’s missing is that in his early years of he did take a lot more risks on companies, it wasn’t until he first big hit that he ended up going conservative in his approach. Of course way back then there were nowhere near the amounts of companies there are now, so less companies less risk. I believe you need a mixture of high risk and highly profitable stocks nowadays in other to attempt to be wealthy. 🤷🏻♂️
Always great to see Buffett on top! Joseph, what is your take on Renaissance Technologies as a contender? I know it's an institution, not a person, so it's not a fair comparison
I don’t know what he said or care I just clicked to say warren buffet said “your right because your facts are right” “in the long run the market is a weighing machine but in the short term a voting machine”-Benjamin Graham
Trustworthy managers in my opinion is one of his biggest criterion. Why I think he chose Paramount over Disney-Paramount’s management has already been overhauled and Bakish is solid and they clearly aren’t doing deceptive things to hit their earnings numbers, something that cannot be said about Disney
31:07 apple has monopoly only in USA and I dont get it. I live in europe in country with average income of 1000$. We have 2 options here. Buy apple with whole monthly salary, or buy android for 200$. Most people use phones to call, take pictures or search the internet. The only difference in this field is the camera, apple has nothing to offer besides its better cammera and justifices that with 5 times higher price? Now imagine a family of 2 adults having mothly income 2k dollars, with 2 children living in a rent appartment. You pay 600-800 dollars just for rent, heat and elecricity, you pay another 400-500 for food, you pay 100 for toys, clothes and entertainment, 300 for gas for 2 cars, 250 for car insurance and what are you left with? You pay in total 1650-1950 each month. This leaves you with 4200$ a year for average 4 person family at best. Do you really want to buy each member new Iphone for 1k$? Also a lot of europeans like to spend most money on holidays instead of things. Yes, there are families with higher budged that can offer to buy useless iphone, but those are in the minority. Literaly most people live paycheck to paycheck. Where is the moat you are talking about? Fk apple, there is no growth for it, it can only grow into rich countries. Android will rule them all. Will take most europe, all asia, and all developing countries. Warrren buffet will never understand this becouse he doesnt understand daily struggle of normal people. The path to future doesnt lay in expensive quality, it is in cheap quantity. This is why free to play games are so popular. People dont even have enough money to try new games. If people go into grocery store, they dont buy what they need, they buy what is on sale. They are desperately trying to save some money and apple goes into the other direction. There is not very large market for premium goods. USA is about 300mil people. Just india and china is 2 bilion. Why would they buy apple? They live in much worse conditions than europeans. They couldnt buy apple even if they wanted. At least in europe most people can buy it, but it is a stupid waste of money so almost noone does that.
He is down about 2.5 billion on HPQ, so imagine how much better it would have been. By the way, his returns are growth and dividends. Dividends he doesn’t share, except in share price of his fund.
At a certain point, Buffett can just throw a dart at a stock and it will go up just because he bought it. We know that is true. Buffett could buy Palantir tomorrow and it would go up 30%.
What sticks out to me about all of these people vs. Warren Buffet is they are all FUND managers. That comes with certain problems, expectations, and limitations. Warren Buffett is the CEO of a Holding Company, not a fund. His business model isn't a 2 & 20 fee / carry.
1. Warren Buffett - the GOAT. 2. Jim Simons 3. Peter Lynch And then a massive cliff to everyone else. Cathie Wood and Chamath are not even at an average investor level. Dave Portnoy is not even an investor.
Buffet has a few advantages nobody can compete with. He can see a companies books before he buys it. He knows their numbers. Other fund managers buys the same stock he buys which raises its price. No other investor gets that effect.
If you've considered trying out Qualtrim, today is the day to do it. If you join now you won't pay anything for the full month. Sign up here for the free trial: www.patreon.com/josephcarlson
I think you will love it, we have a growing number of users and I am investing a lot of money and energy into improving the platform.
Honest question: if you say Buffett is the best, then why not just buy Brk.a or Brk.b instead of picking individual stocks?
Only if I had more time to play around in the market, retirement is around the corner and my primary concern is how to grow my reserve of $320k which has been sitting duck since forever with zero to no gains, I'm having serious anxiety.
I believe you should contact a portfolio manager, someone who was active before to the 2008 crisis and other similar crashes; that's your greatest chance for profit and survival through this recession.
I agree with you Luca, I have been pretty much on the sideline observing for awhile, figuring out the best strategy to get in, until I came by a coach, commended by a pundit on Reddit, reluctant at first but I went ahead and reached the coach, long story short, it's over 3years+ and I've made over 1.6million simply following the guidance of my coach.
@@drew6651 My 401k has lost all it earned since the beginning of 2020. I wouldn't mind checking into the adviser who assists you; I feel that earning more is the greatest method to overcome the recession and inflation.
The coach that guides me is Jane Irene Sawyer, it shouldn't be a hassle finding her, she's quite known among her peers, so just search her name.
Sell all you have, move to a country like India or Vietnam and live rest of your life in peace and luxury.
"Investing is simple, but not easy." Warren Buffett
You’re as passionate as Mr Buffett when it comes to share buybacks and shady financial reports 😁. Excellent video!
I think the goverment is trying to discourage the bad buybacks, ie. buyback with borrowed money to boast EPS, and buyback at over-valued prices. Buffet's buybacks are at under-value prices, and with cash on hand.
@@EarlOSandwich Yes, I meant to say that the poicatician should crack down only the abuse of buybacks.
Stock buybacks are just "legal" stock price manipulation, which should go back to illegal.
Old school mind wins vs new school. Still sharp mind for his age. Legend!
it's hard to teach a new cat old tricks!
I'm trying to practice the art of doing nothing, and it's the hardest thing when it comes to investing to do I feel. I see something drop big time that I like more than something else I'm holding, I'll rotate out into the new company. I beat the S&P 500 last year by around 6%, and I take that as a win. But I need to follow in his mindset of holding things more long term. Something runs up quickly, sit on it instead of just moving out of it.
Joseph, I really appreciate your focus on honest and dishonest accounting. I think that this is something that so many investors miss, myself included. Please keep this focus, I believe that this is a moat for you on youtube in the investor space as no one really seems to highlight this. You've just earned me as a subscriber.
Some gold in here, nice one Joseph.Great point on the 90:10 ratio of people looking at the price of a stock vs. researching it.
I'm 58, Joseph. It makes you think when you realise WB has averaged almost 20% over one's entire life.
Qualtrim portfolio tracker and Insights are fantastic. Finally decided to try it, figure out how to input data, and love it. Less difficult than I assumed. Thank you for your service sir.
Great episode Joseph. I've definitely been balancing out my portfolio through this downturn. Adding a lot more compounders and getting away from companies that are massively diluting.
Hi Joseph, thank you for your wonderful analysis! Really insightful. You really lived up to the expectation you made at the start to translate the Buffet statements.
Warren Buffet is the Michael Jordan of Investing. GOAT.
Some might argue He's Lebron with the longevity. When others retire...He's still ballin out.
@@jaylenbrownfan2112 Fair point
Loved this episode! One of my favourite! Thank you!!
May I suggest maybe to try and do a "focus" video on his "sells?buys restrospective? The more Buffer the merrier x)
Thank you as usual! Lovin' the process!
The difference is: Buffet earns money with his investments. Wood earns money from her followers. She does not need to care if her investments make profit. She only needs to sell her story.
I dont know why, but i can listen to you All day long 😊. Very good impact on me. Continue the good work
Buffet wins because he doesn't overpay, regardless of how good the company is he has a fair value, what he has estimated the intrinsic value to be and he doesn't pay over that value. "Whether we’re talking about socks or stocks, I like buying quality merchandise when it is marked down" Warren Buffett
Good for you Joseph, maybe you will be the next WB; I agree with you 100%...Thanks for doing this.
I recently purchased some ETFs. Saving for a market fall is also a bad idea. There are different perspectives on recessions and depressions; we cannot always expect significant rewards; and taking risks is preferable to doing nothing. The bottom line is that by diversifying your portfolio and making sensible judgments, you will accomplish exceptional outcomes. In 2022, my portfolio returned $608,500.
You’re right! The current market might give opportunities to maximize profi.t, but in order to execute such effective transactions, you must be a skilled practitioner
@Lloyd Bernard wow! who is this individual guiding you? I lost over $9000 just last week, so I’m in dire need of a financial-planner.
@Lloyd Bernard This is useful information; I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
BALONEY!
Joel Greenblatt compounded ~40% for 20 years multiplying +800 times his client's money. The thing about Buffet is that he manages hundreds of billions so of course he can't get mind blowing returns now but I'm sure he would compound+40% if he only had a couple of billions to manage
He did mention that he can easily make 50%+ a year given if he only had a few million to manage in one of Berkshire’s annual shareholder meeting quite a few years back
This was a very educating video, thanks a lot, I watched it several times.
I began accumulating wealth when I started following up my investment properly, The value of expert mentorship cannot be overstated. Without proper mentoring, people tend to make mistakes and loose money. This is why I prefer to invest with Juliann Hart because her methods are unique and extremely profitable-
Overtime I have come across people earning consistent returns with the assistance of a professional manager but how do I find one? This is something that piques my interest-
I invest with Juliann Hart. She's the best when it comes to making gains in the financial market she's well accredited and proficient to help beginners through managing your investments-
Her investing strategy and risk management is well structured. She also offer copytrading
Okay, how do I contact her for advice on investment recommendation?-
Damn. This is truly one of the most comprehensively accurate analysis of the Wizard I've ever heard. Bravo.
Class video, exactly right in everything your saying but the only thing is, it’s easier said than done! Keep up the good work appreciated 😊
Excellent show... thanks for sharing your insights and knowledge... Buffet is a great investor...
Outstanding job and analysis. Many thanks👏
Thank you for emphasing on the SBC through your videos...Yestereday I was looking at the Tyson Food financial statements and noted that they add SBC to the OCF calculation.
Great Video Joseph. Warren Buffett is truly an amazing and Unique investor. 😀
@JosephCarlson, you are the real young WB 😊
Best take on the shareholder letter I've seen. Interesting that Berkshire doesn't return cash to shareholders - breaking their own rules!
Imagine for a moment that there’s an equity that’s as close to the risk profile as the U.S. Treasury Bond (i.e. a strong durable competitive advantage), but with a much higher coupon rate. That’s what Buffet is looking for!
Joseph, really like your videos and learn alot from your analysis. I would love to hear a deeper dive on share buybacks. This was an activity that was not legal until the 80's and I wonder about the overall impact to the economy they have caused. With so many executives looking quarter to quarter instead of focusing on long term success due to their stock based compensation, I wonder if they really had to find a way for that money to work if their results might be better. This is also money that could be invested into employee compensation and improving the talent pool of the company. Stock buybacks ignore all other stakeholders other than owners. Just a thought.
Great seeing you learn more Joseph. Work on valuations and you will be a decent investor. You find great companies but buy them at elevated prices have some patience. After all the stock market is a mechanism to movie money from impatient to the patient. Have a good night.
What a great video. Thank you for this excelent work!
As some who went to business school, it’s crazy to me that Warren Buffett’s mentality is what sets him apart when it’s his mentality is what’s taught in schools
Modern people would rather memes to simple wisdom
does qualtrim cover stocks outside the US?
This was a good call to action for me, I've been slowly trimming away any holdings that aren't represented excellently but now I want to redouble my efforts, thanks Joseph!
Buybacks can be good or very bad, and this is one of many reasons Buffett must have great faith in the skill of the management of companies he invrsts in.
My insights that I don’t hear discussed:
1) Buffet knows the value of investing in companies that sell addictive products. I include oil in this. Society’s addiction to fossil fuels.
2) Buying low is about buying when others are afraid to. Buffet knows how to be a very special kind of sentiment investor. He does it not by looking at fear and greed indices or how companies are being talked about in the news; instead he is able to read sentiment off financial statements and stock prices. To give a sense of what I mean: suppose a company has a decade long track record of slow and steady growth, but they’ve had a few relatively bad quarters and the stock is down. Buffet can be counted on to accurately discern whether the stock price is hurting more than the financial fundamentals. In other words, he understands companies and economies well enough to accurately gauge whether a warranted selloff is overdone.
Superb video, greetings from Malaysia
Buffet’s performance can largely be explained by his exposure to risk factors such as value , and at times also to his use of leverage. He has some excellent advice , but his best advice is probably that most people are better off investing in a broad market index fund. Copying his investments or even his strategy as a whole simply won’t work for everyone as we all are investing with different life circumstances and different attitudes to risk which affects everyone’s ability to remain invested long term differently.
Stay the course friends!
Thank you Joe, as always great market and investing insights! ... Love researching with Qualtrim but it needs search filters, are those coming?
The fact Renaissance Technologies next levels Berkshire’s profits by almost 40% is insane.
Most of Warren's big gains came years ago, however, he has beaten the market over every rolling ten year period.
LITTLE KNOWN: Roughly half of Warren's outperformance has come from leveraging his insurance float.. something not available to individuals. However, without this leveraging he still would have made roughly 15 percent a year.
Large capital is the enemy of large outperformance and Warren correctly points out that it will not be possible for Berkshire Hathaway to continue beating the market by a huge margin, though Berkshire Hathaway will be safer.
This is one of your best videos, especially the stuff on his Dividends growing over time
This definitely deserves a good like 🎉
Appreciate your content and your approach to investing
Great video, thanks from Portugal.
Over the last several years, you've reposted clips from "financial experts" that were on you tube and tic tok. There was one guy (I don't remember who he was) who was blasting (mocking?) Buffet, and bragging about how the performance of his portfolio was blowing Buffet's (BRK) performance out of the water. Maybe you should do a few "where are they now" videos and revisit past clips.
Is qualtrim available in patreon?
Thats a good episode there.
Excellent analysis 👏
thanks for trying to break through buffets' wide moat to understand his wide moat strategy
What I don’t understand in 18:30, why does he keep the coca cola shares, if he finds it to be the suboptimal investment for the reinvestment of the received dividends.
I don’t get why coca cola is the better place to have his money than the other stock he is buying with their dividend. I am guessing he wouldn’t buy coca cola shares (especially not in that amount), if he had to invest that money, they are worth today, now.
I hope someone understands what I want to say and can help me better understand.
Great video!!! Buffett is the GOAT and it isn't even close.
Buffet does benefit from being buffett in that others see what he buys and piles in after him thus raising his prices
Great video Joseph!
There is only one grand father in value investing no matter how you see it. And we all know who he is 😀
His stock portfolio is one thing. The stock price of Berkshire is another. That is based primarily on its performance. Buffett is a great capital allocator and manager which resulted in Berkshires phenomenal return. His stock portfolio does not beat the S&P 500 but Berkshire stock has up until the last fifteen years.
In the hedge fund world, there is the legendary Medallion Fund from Renaissance Technologies that has averaged 66 percent a year (before fees) for over thirty years with one tiny losing year.
You can't compare this to Buffett as Medallion is capped at 10 billion because they cannot find enough worthwhile quant edges to hold more money and the founder is worth only an estimated thirty billion.
Great video!! ❤
What about his TSM buy / sell? Thx
check out Buffetts 13 F he buys and sells stocks every quarter. It's not uncommon.
I find Warren Buffett's position on not paying dividends to be hypocritical. He says it's ok for a company to pay a dividend when they can't invest the money to get a better return. He cites Coke as an example. Then, he sits on over $100B in cash doing nothing with it for years on end without paying a dividend while he waits for a good investment to come along, but that's somehow ok. If that's ok, then why wouldn't it be ok for Coke to stop paying a dividend and then stockpile cash while they wait for a good investment to come along? I guarantee you that Warren Buffett would not like that one bit.
I also don't like the whole buyback philosophy that Warren Buffett employs. Berkshire Hathaway fans always tell people to just sell shares if they need income. They point out that buybacks increase the shareholder's stake in the company when done correctly and are superior to dividends. The problem is that's only true if you don't sell your shares. However, if you have to sell your shares in order to generate income because no dividends are paid, then you wind up reducing your stake in the company. If your only source of income to pay your expenses is to sell your shares of stock, then, since you have no other income available to replace the shares you sold, you will eventually run out of shares to sell, and therefore will eventually run out of income. That doesn't happen with dividends.
I think his whole philosophy on not paying dividends is immensely hypocritical. It basically comes down to his belief that keeping the cash and doing nothing is better than giving it to shareholders who will just spend it and get no return on that cash. Nevermind that they will eventually run out of shares to sell, that's their problem. It's BS.
Something that people forget is a company has to get back the money to shareholders and always has been the best by dividends BUT Buffet do prefer (And also do I) return through buybacks, which has the compound effect. That's the point.
Were are you able to view what chamath, investment? Or are these just some investment he has spoken publicly on?
Great videos. Very informative and helpful. Keep it up.
Little noticed is management that manages to unfairly dilute shares and give themselves far too much of their companies earnings through various machinations.
Does Qualtrim also analyse Australian stocks ?
Joseph, you are absolutely right, no one can beat Warren's record.
Joseph, could you please add the shares buy back graph on Qualtrim? That would be really helpful going through 2023.
There's already a shares outstanding graph on Qualtrim
Shares outsanding is actually a superior way to look at efficient buybacks.
If you just look at buyback amount, a company can issue 1 billion worth of shares, then "buy back" 1 billion, and the share count is actually flat, you did not benefit at all. But if they issue 500 million worth of shares and buy back 1 billion, you did benefit by a net 500 million of buybacks, and that's what's reflected on the shares outstanding graph.
So a simple way of looking at it is the shares outstanding. If that's going up, they're diluting, if it's going down, they're doing buybacks beyond the rate of dilution.
one of best youtube chanhel on stocks
WB definitely GOAT of investing, but what happens to Berkshire when he's no longer with us?
Delightful episode!
Great video! Thank you Joseph
The only people I regard as even being in the same room as Warren Buffet is Peter Lynch, and John Bogle. Even Warren's partner Charlie Munger doesn't compare. Peter Lynch's returns were great, and his book "One up on Wallstreet" is my favourite book for his type of investment strategy, there's even a free audiobook for it on TH-cam where he reads it himself. I said Jack Bogle because he understands how people should be investing and made S&P500 ETFs a thing, at a low cost for the investor.
Charlie munger is the reason buffet changed how he invested.......... no charlie no current buffet....
@@williams11372 Charlie gave him a new prospective and helped him. Charlie has also made some massive mistakes. One of them was recently. Since he doesn't diversify, a mistake that big is huge.
@@Aubatron sorry but your message is beyond irrelevant.
Your claim that C.M. isn't in the same room as W.B. doesn't make sense. Simple as that 🤷♂️
@@williams11372 Well I told you why I think that, the first rule of value investing by Warren Buffet is don't lose money. You haven't told me why I should think differently. CM helped give WB a different prospective, but he was making 50% returns on small sums of capital before the two of them even met. You're comparing someone with 2.3b to someone with over 100b, you're the one who has to justify their viewpoint lol. It's as simple as that. 🤷♀
@@Aubatron this is the problem with people like you! You say some ignorant shit, get set straight, act like you didn't get set straight, completely change the goalpost of what you're saying, and then claim I need to disapprove some secondary nonsense 🤦♂️
Doesn't work like that nor do i care enough to play 20 goalposts.
Your original statement is invalid. If you wanna pretend you said some earth shattering deep shit go nuts.
Enjoy your life!
What’s missing is that in his early years of he did take a lot more risks on companies, it wasn’t until he first big hit that he ended up going conservative in his approach. Of course way back then there were nowhere near the amounts of companies there are now, so less companies less risk. I believe you need a mixture of high risk and highly profitable stocks nowadays in other to attempt to be wealthy. 🤷🏻♂️
Always great to see Buffett on top! Joseph, what is your take on Renaissance Technologies as a contender? I know it's an institution, not a person, so it's not a fair comparison
@@maxaffe3195 I dunno why you had to throw shade. I literally said Buffett is at the top but I wanted to throw this into the mix too
I don’t know what he said or care I just clicked to say warren buffet said “your right because your facts are right” “in the long run the market is a weighing machine but in the short term a voting machine”-Benjamin Graham
I'm not even a huge fan of you, but this video is wonderful, out of the park!
You're awesome 👌
Hi Joseph.. just curious, why not just buy brk?
Trustworthy managers in my opinion is one of his biggest criterion. Why I think he chose Paramount over Disney-Paramount’s management has already been overhauled and Bakish is solid and they clearly aren’t doing deceptive things to hit their earnings numbers, something that cannot be said about Disney
Hey Joseph, would like to know your opinion on American Water Works.
Greetings from germany
Do buybacks actually reduce the number of shares or does the number stay the same and the company just holds a larger stake?
31:07 apple has monopoly only in USA and I dont get it. I live in europe in country with average income of 1000$. We have 2 options here. Buy apple with whole monthly salary, or buy android for 200$. Most people use phones to call, take pictures or search the internet. The only difference in this field is the camera, apple has nothing to offer besides its better cammera and justifices that with 5 times higher price?
Now imagine a family of 2 adults having mothly income 2k dollars, with 2 children living in a rent appartment. You pay 600-800 dollars just for rent, heat and elecricity, you pay another 400-500 for food, you pay 100 for toys, clothes and entertainment, 300 for gas for 2 cars, 250 for car insurance and what are you left with? You pay in total 1650-1950 each month.
This leaves you with 4200$ a year for average 4 person family at best. Do you really want to buy each member new Iphone for 1k$? Also a lot of europeans like to spend most money on holidays instead of things. Yes, there are families with higher budged that can offer to buy useless iphone, but those are in the minority. Literaly most people live paycheck to paycheck. Where is the moat you are talking about?
Fk apple, there is no growth for it, it can only grow into rich countries. Android will rule them all. Will take most europe, all asia, and all developing countries. Warrren buffet will never understand this becouse he doesnt understand daily struggle of normal people. The path to future doesnt lay in expensive quality, it is in cheap quantity. This is why free to play games are so popular. People dont even have enough money to try new games. If people go into grocery store, they dont buy what they need, they buy what is on sale. They are desperately trying to save some money and apple goes into the other direction.
There is not very large market for premium goods. USA is about 300mil people. Just india and china is 2 bilion. Why would they buy apple? They live in much worse conditions than europeans. They couldnt buy apple even if they wanted. At least in europe most people can buy it, but it is a stupid waste of money so almost noone does that.
i fell for ARK a while back. Bad move but i learned my lesson.
It’s easy, Warren said it himself. “Invest in good companies”
hi Joseph, do you hold and BRKB? if so, at what % level in which of your portfolios?
Joseph when are you coming to the great state of Nebraska for an investor meeting?
He is down about 2.5 billion on HPQ, so imagine how much better it would have been. By the way, his returns are growth and dividends. Dividends he doesn’t share, except in share price of his fund.
Terry smith was talking about high gross margins.
Because hes wise and hes patient!
At a certain point, Buffett can just throw a dart at a stock and it will go up just because he bought it. We know that is true. Buffett could buy Palantir tomorrow and it would go up 30%.
Speaker volume 60%
TH-cam volume 50%
Joseph Carlson audio volume- Jumpscare%
You know what helps - being 90 years old and holding stocks for 20 years.
What sticks out to me about all of these people vs. Warren Buffet is they are all FUND managers. That comes with certain problems, expectations, and limitations. Warren Buffett is the CEO of a Holding Company, not a fund. His business model isn't a 2 & 20 fee / carry.
Wouldn't Peter Lynch be a close second? Who knows how close he could've been to Buffett if he didn't retire from Magellan.
1. Warren Buffett - the GOAT.
2. Jim Simons
3. Peter Lynch
And then a massive cliff to everyone else.
Cathie Wood and Chamath are not even at an average investor level. Dave Portnoy is not even an investor.
Great job
Buffet has a few advantages nobody can compete with. He can see a companies books before he buys it. He knows their numbers. Other fund managers buys the same stock he buys which raises its price. No other investor gets that effect.