Teachings of Warren Buffett

MBA Talk
Part 1
Part 2
Part 3
Part 4
Part 5
Part 6
Part 7 
Part 8
Part 9
Part 10

Key notes:

On Japan
- Not many fantastic companies

On LTCM
- "To make $ that they didn't have and didn't need, they risk what they did have and did need."
- it is foolish to risk something important for something not important, whatever the odds may be.
- Beta of a stock doesn't tell you anything about the risk of the stock.

On Life
- Don't borrow $
- Work for passion not $

On choosing companies
- Choose a business that you understand and you know how it will look like 10 years from now.
- has a moat, esp one that is widening (eg. low cost, brand)
- honest, able management