Aswath Damodaran: Globalization Backlash
April 1, 2025
In his recent article, NYU professor Aswath Damodaran shares his thoughts on how politics, globalization, and disruption has changed the investing landscape.
Warren Buffett: Letter to Berkshire shareholders 2023
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By Borsgade
- - Published
In keeping with tradition, Buffett has written an interesting letter to his fellow investors in connection with Berkshire’s annual report.
This year’s letter starts (appropriately enough) with a recognition of Charlie Munger’s efforts and impact on Berkshire Hathaway in the wake of Munger’s death. A role Buffett describes as the ‘architect’ behind Berkshire. Undoubtedly a title that would have pleased Munger, who was a great architecture enthusiast.
In the letter, Buffett touches on a number of topics, including what qualities he looks for when investing.
At Berkshire, we particularly favor the rare enterprise that can deploy additional capital at high returns in the future. Owning only one of these companies – and simply sitting tight – can deliver wealth almost beyond measure. Even heirs to such a holding can – ugh! – sometimes live a lifetime of leisure.
We also hope these favored businesses are run by able and trustworthy managers, though that is a more difficult judgment to make, however, and Berkshire has had its share of disappointments.
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The above has been prepared by Børsgade ApS for information purposes and cannot be regarded as a solicitation or recommendation to buy or sell any security. Nor can the information etc. be regarded as recommendations or advice of a legal, accounting or tax nature. Børsgade cannot be held liable for losses caused by customers’/users’ actions – or lack thereof – based on the information in the above. We have made every effort to ensure that the information in the above is complete and accurate, but cannot guarantee this and accept no liability for errors or omissions.
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