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Global Leaders Investment Letter: June 2022

Brown Advisory

We discount each year at our 10% minimum weighted average cost of capital (WACC) and some infinite series maths gives us the basis for some rough approximations 2. Maths has a long half-life and a DCF correctly done accounts for inflation.

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2018 Berkshire Hathaway Annual Shareholder Meeting

Brown Advisory

The archive has complete audio/video and transcripts as well as highlights of past meetings from 1994 through the present. Buffett and Munger celebrate good business and investment practices, the potential for human achievement, high ethics and decency to one’s fellow man. The format of the meeting is question and answer.

Assets 52
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2018 Berkshire Hathaway Annual Shareholder Meeting

Brown Advisory

The archive has complete audio/video and transcripts as well as highlights of past meetings from 1994 through the present. Buffett and Munger celebrate good business and investment practices, the potential for human achievement, high ethics and decency to one’s fellow man. The format of the meeting is question and answer.

Assets 52
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Transcript: Ramit Sethi

The Big Picture

I have this one-hour presentation I do on money. That led to the next three or four years of learning how to sell, how to create value, and not worry about selling out, but do it in a very ethical way. It’s much deeper than math. And they were like… RITHOLTZ: Wait, this is in college you would do this? No kidding.

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Transcript: Dave Nadig

The Big Picture

And we literally talk about during the show, I got a tag to present to the SEC, about their new single stock product. I was the one reviewing marketing copy and doing presentations to groups of institutions about how to use the darn things. I read all those academic papers, I understand where the math comes from. NADIG: Right.

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How to CRACK the secret costs in an insurance illustration

Sara Grillo

Quick math: If you have $1.828 million in the bank. And , you have to do the math by hand. Now, quick math, if you have 128 million in the bank in your Christmas or Hannukah Club, and the bank is going to credit you 5% on your money 0:18:18.4 So ethically, I think it applies everywhere. Here’s another example.

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Transcript: Benjamin Clymer & Jeffery Fowler, Hodinkee

The Big Picture

And so this is one of the few places, really, in the world that unites my pre-Hodinkee and present-day world. RITHOLTZ: So wait, you’re, I’m trying to do the math, if you were 24 in ‘08, so you got this watch in 2000, 99? But there were a lot of other purveyors of watches that really were not super, super ethical folks.

Retail 170