Stig has invited legend investor Chris Bloomstran from Semper Augustus to teach us how to value Berkshire Hathaway on today's show. Semper Augustus has an outstanding track record with a CAGR of 11.5% since his fund's inception on 2/28/1999, compared to 6.9% for the S&P500.&nbsp;There is no one in the space we respect as much as Chris Bloomstran when valuing the intrinsic value of Berkshire Hathaway.&nbsp;IN THIS EPISODE YOU’LL LEARN:00:00 - Intro10:21 - The intrinsic value of Berkshire Hathaway and what the P/B of Berkshire Hathaway tells us & what it doesn’t tell us.&nbsp;16:34 - How to think about depreciation and maintenance CAPEX19:02 - Why the insurance business is worth approximately as much as the energy and railroad businesses combined35:17 - How to think about Berkshire Hathaway’s bigger equity positions1:13:49 - Where you can use Berkshire Hathaway to park cash?&nbsp;Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.BOOKS AND RESOURCES<ul><li>Listen to Stig’s masterclass with Chris Bloomstran on <a href="https://link.chtbl.com/WSB438" rel="noopener noreferrer" target="_blank">valuing Berkshire Hathaway</a> or watch the <a href="https://www.theinvestorspodcast.com/episodes/berkshire-hathaway-masterclass-w-chris-bloomstran/" rel="noopener noreferrer" target="_blank">video</a>.&nbsp;</li><li>Tune in to Stig’s masterclass with Chris Bloomstran on <a href="https://link.chtbl.com/WSB346" rel="noopener noreferrer" target="_blank">equity valuations</a> or watch the <a href="https://www.theinvestorspodcast.com/episodes/masterclass-in-valuations-w-chris-bloomstran/" rel="noopener noreferrer" target="_blank">video</a>.</li><li>Chris Bloomstran’s <a href="https://www.semperaugustus.com" rel="noopener noreferrer" target="_blank">website</a>.</li><li>Read Chris Bloomstran’s <a href="https://www.semperaugustus.com/clientletter" rel="noopener noreferrer" target="_blank">letters to his clients</a>.&nbsp;</li><li>Buffett <a href="https://buffett.cnbc.com/" rel="noopener noreferrer" target="_blank">resource on CNBC</a>.</li></ul>NEW TO THE SHOW?<ul><li>Check out our&nbsp;<a href="https://www.theinvestorspodcast.com/we-study-billionaires-starter-packs/" rel="noopener noreferrer" target="_blank">We Study Billionaires Starter Packs</a>.</li><li>Browse through all our episodes (complete with transcripts)&nbsp;<a href="https://www.theinvestorspodcast.com/richer-wiser-happier/" rel="noopener noreferrer" target="_blank">here</a>.</li><li>Try our tool for picking stock winners and managing our portfolios:&nbsp;<a href="https://www.theinvestorspodcast.com/tip-finance/" rel="noopener noreferrer" target="_blank">TIP Finance Tool</a>.</li><li>Enjoy exclusive perks from our&nbsp;<a href="https://www.theinvestorspodcast.com/affiliates/" rel="noopener noreferrer" target="_blank">favorite Apps and Services</a>.</li><li>Stay up-to-date on financial markets and investing strategies through our daily newsletter,<a href="https://www.theinvestorspodcast.com/newsletters/" rel="noopener noreferrer" target="_blank">&nbsp;We Study Markets.</a></li><li>Learn how to better start, manage, and grow your business with the&nbsp;<a href="https://www.theinvestorspodcast.com/podcasts/20-best-business-podcasts/" rel="noopener noreferrer" target="_blank">best business podcasts</a>.&nbsp;</li></ul>P.S The Investor’s Podcast Network is excited to launch a&nbsp;<a href="https://clicks.aweber.com/y/ct/?l=7HQTa&m=3hIUiG6T8vBkNOB&b=8NVZC.qh9__ur.qME8mcEQ" rel="noopener noreferrer" target="_blank">subreddit</a>&nbsp;devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit&nbsp;<a href="https://clicks.aweber.com/y/ct/?l=7HQTa&m=3hIUiG6T8vBkNOB&b=8NVZC.qh9__ur.qME8mcEQ" rel="noopener noreferrer" target="_blank">r/TheInvestorsPodcast</a>&nbsp;today!SPONSORS<ul><li>If you’re aware you need to improve your bitcoin security but have been putting it off,&nbsp;<a href="https://unchained.com/concierge" rel="noopener noreferrer" target="_blank">Unchained Capital</a>'s Concierge Onboarding is a simple way to get started—sooner rather than later. Book your onboarding today and at checkout, get $50 off with the promo code FUNDAMENTALS.</li><li>Have peace of mind knowing&nbsp;<a href="https://river.com/" rel="noopener noreferrer" target="_blank">River</a>&nbsp;holds Bitcoin in multi-sig cold storage with 100% full reserves.</li><li>Easily diversify beyond stocks and bonds, and build wealth through streamlined CRE investing with&nbsp;<a href="https://equitymultiple.com/WSB" rel="noopener noreferrer" target="_blank">EquityMultiple</a>.</li><li>Make connections, gain knowledge, and uplift your governance CV by becoming a member of the&nbsp;<a href="https://aicd.com.au/member" rel="noopener noreferrer" target="_blank">AICD</a>&nbsp;today.</li><li>What does happen when money and big feelings mix? Tune in to find out on the new podcast,&nbsp;<a href="https://podcasts.apple.com/ca/podcast/open-money-by-servus-credit-union/id1674940247" rel="noopener noreferrer" target="_blank">Open Money</a>, presented by Servus Credit Union.</li><li>Capitalize on the rapidly growing cybersecurity market today with&nbsp;<a href="https://invest.atakama.com/wsb" rel="noopener noreferrer" target="_blank">Atakama</a>.</li><li>Have&nbsp;<a href="https://commbank.com/success" rel="noopener noreferrer" target="_blank">Commonwealth Private</a>'s Private Bankers take the time to understand your goals and tailor solutions that create less for you to do and more for you to enjoy.</li><li>If you're into marketing podcasts that walk through how successful entrepreneurs, politicians, and influencers have convinced and persuaded people, then you should give&nbsp;<a href="https://www.nudgepodcast.com/" rel="noopener noreferrer" target="_blank">Nudge</a>, hosted by Phil Agnew, a listen!</li><li>Get yourself a&nbsp;<a href="https://store.blockstream.com/fundamentals" rel="noopener noreferrer" target="_blank">Blockstream Jade</a>&nbsp;-- An all-in-one, bitcoin-only hardware wallet that makes protecting your bitcoin so easy. Use the coupon code&nbsp;Fundamentals&nbsp;to get 10% off.</li><li>Apply for the Employee Retention Credit easily, no matter how busy you are, with&nbsp;<a href="https://getrefunds.com/" rel="noopener noreferrer" target="_blank">Innovation Refunds</a>.</li><li>Hire expert marketers, on-demand, with&nbsp;<a href="https://marketerhire.com/wsb" rel="noopener noreferrer" target="_blank">MarketerHire</a>. Listeners get a $1,000 credit for first-time customers when you use code WSB.</li><li>Discover the leading community for engaged investors, and the best source of investment analysis and opinion with&nbsp;<a href="https://seekingalpha.com/wsb99" rel="noopener noreferrer" target="_blank">Seeking Alpha</a>. Listeners get a special deal: Alpha Picks for $99 + 1 month of FREE Seeking Alpha Premium!</li><li>Support our free podcast by supporting our&nbsp;<a href="https://theinvestorspodcast.com/sponsors" rel="noopener noreferrer" target="_blank">sponsors</a>.</li></ul>HELP US OUT!Help us reach new listeners by leaving us a&nbsp;<a href="https://docs.google.com/presentation/d/1Rnl5KGxmrYISQ7UfbEREMN-AD6b40i6CwWUbXaTabmI/edit" rel="noopener noreferrer" target="_blank">rating and review</a>&nbsp;on&nbsp;<a href="https://podcasts.apple.com/us/podcast/we-study-billionaires-the-investors-podcast-network/id928933489" rel="noopener noreferrer" target="_blank">Apple Podcasts</a>! 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!See Privacy Policy at <a href="https://art19.com/privacy" rel="noopener noreferrer" target="_blank">https://art19.com/privacy</a> and California Privacy Notice at <a href="https://art19.com/privacy#do-not-sell-my-info" rel="noopener noreferrer" target="_blank">https://art19.com/privacy#do-not-sell-my-info</a>.

Podurama

Home

Trending

Personal

Your Podcasts

New Episodes

My Files

Favourite Episodes

Tags (Folders)

Recently Played

Bookmarks

Followed Playlists

TIP548: Berkshire Hathaway Masterclass 2023 w/ Chris Bloomstran

We Study Billionaires - The Investor’s Podcast Network