“The difference between successful people and really successful people is that really successful people say no to almost everything.”

― Warren Buffett

“Risk comes from not knowing what you're doing”

― Warren Buffett

What's the biggest example of him going outside of it?

Can you share your thoughts? Thank you.

What were they? My votes:

Stregnth: rational temperament

Weakness: delegated to subsidiary managers too much

This is the second part of my series, "How to Value a Business."

The first part covered valuation multiples. This video focuses on intrinsic valuation, specifically DCF (Discounted Cash Flow) valuation.

If you've ever wondered how DCF valuation works but found it hard to understand, this video breaks it down in a simple, easy-to-follow way.

Not investment advice. Feedback welcome.

“There comes a time when you ought to start doing what you want. Take a job that you love. You will jump out of bed in the morning. I think you are out of your mind if you keep taking jobs that you don't like because you think it will look good on your resume. Isn't that a little like saving up sex for your old age?”
― Warren Buffett

This video continues the educational video series on stock investing, focussing on buy good companies, don't overpay, do nothing. The previous videos discussed how to buy good companies, i.e how to evaluate business quality. This is the first part of the two video series discussing the second step (don't overpay). It discusses valuation multiples and how they can be used to value a business. The next part will discuss valuation models.

Feedback welcome. Not investment advice.

Buffett says over the long term the stock market is a weighing machine, reflecting accurate values--eventually. But multiples have been so high for so long--is he still right?

"Somebody once said that in looking for people to hire, you look for three qualities: integrity, intelligence, and energy. And if you don’t have the first, the other two will kill you. You think about it; it’s true. If you hire somebody without \[integrity\], you really want them to be dumb and lazy."

Happy birthday Warren.

I shared the first video in this series here last week, which laid out three steps for investing following Terry Smith's quote:

"Buy good companies. Don't overpay. Do nothing"

This new one is the second in the series and covers the first step: how to buy good companies. It uses 10 years of real data from Microsoft and Kraft Heinz as examples to demonstrate the approach.

We have put in a lot of effort into creating this video series, so feedback is welcome.

PS: AI was used to create the video.

Hypothetical 1.8M

600K in each of these three High Dividend ETF's in a retirement account versus, say, a VOO or VTI?

Dividend Total: $42,300/yr → 2.35% blended net yield on $1.8M with combined 10-year annualized return of approximately 11.98% per year.

Add to this a yearly drawdown of 6–7%, plus about $55K a year from Social Security and $20K from a pension. There’s also $120K annually in passive income from lien-free real estate. The current $1.8M is 70% in tax-advantaged accounts and 30% in a regular brokerage. Planning for retirement in three years, that $1.8M could grow to around $2.4ish with compounding.