11 Comments
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Daniel Nest's avatar

Man, I was kind of hoping that Warren Buffett's advice was to invest money in discarded cigar butts, but alas. Guess I'll have to put my collection of butts in the basement with my Beanie Babies, Labubus, and fidget spinners. One day. One day.

Andrew Smith's avatar

Everything has some intrinsic value. Your job is just to find the right buyer.

LL's avatar

Ooo, a favorite book! :) Mr. Market is alive and well.

Andrew Smith's avatar

One of your faves? I legit enjoyed The Intelligent Investor a great deal. Security Analysis is way too in the weeds, though.

LL's avatar

one of my faves for its category. :)

have you read the buffet biography? really good. (the snowball: warren buffett and the business of life)

Andrew Smith's avatar

Yep, and a few others to boot! I enjoyed learning about the old dude.

Read all those Berkshire shareholder letters, too. Actually, I went back to BPL and read all the ones I could find maybe six or seven years ago! I'm not sure I found all of the pre-Berkshire ones, but that took me like a year to get through reading a bit every morning.

LL's avatar

That is so cool. Where did you find them?

Andrew Smith's avatar

Well, you can buy them put together in a semi-professional book, I think- but Berkshire Hathaway's website has all the BRK letters. I *think* I found the BPL ones here (long time ago so not 100% sure):

https://www.ivey.uwo.ca/media/2975913/buffett-partnership-letters.pdf

Bill C. White's avatar

In the long run we are all dead.

Andrew Smith's avatar

I will never not think of a very tall man riding sidebar with a motorcycle