Two value investors: Wallace Weitz and Tom Russo talks Berkshire, Business value, Liberty Media, Transdigm, Nestle and Heineken | Investment Moats Skip to Content

Two value investors: Wallace Weitz and Tom Russo talks Berkshire, Business value, Liberty Media, Transdigm, Nestle and Heineken

 

  1. 3:07: Weitz 30% in cash: The difficulty to find business value in current climate
  2. 3.38: Russo talks about why he is always 100% invested: Global businesses
  3. 4:29: Both talks about valuing based on business value not so much on a statistical PE basis. That their companies PE is much higher. He also talks about systematic evaluation of the value of his portfolio
  4. 7:58: Weitz explaining the appeal of cash necessary in times of distress
  5. 8:31: Russo: The dangers of being all out of the market
  6. 9:30: Both their largest holdings are Berkshire Hathaway and they discuss  Berkshire here
  7. 11:50: Russo talks about Berkshire’s  purchase of IBM and Exxon
  8. 12:40: Weitz talks about the float creating the leverage, thus even if returns are 10% the leverage cause the returns to be higher at perhaps 15%
  9. 13.20: Both talks about their holding of Heineken as a long term entity
  10. 14:30: Why both of them look for family controlled businesses or great capital allocators
  11. 16:10: Russo talks about John Malone, activist investor, the ability to suffer
  12. 20:54: Russo’s one investment: Heineken Holding NV HEIO
  13. 22:40: Weitz’s one investment: Liberty Media Corp LMCA
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