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

3:07: Weitz 30% in cash: The difficulty to find business value in current climate
3.38: Russo talks about why he is always 100% invested: Global businesses
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
7:58: Weitz explaining the appeal of cash necessary in times of distress
8:31: Russo: The dangers of being all out of the market
9:30: Both their largest holdings are Berkshire Hathaway and they discuss Berkshire here
11:50: Russo talks about Berkshire’s purchase of IBM and Exxon
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%
13.20: Both talks about their holding of Heineken as a long term entity
14:30: Why both of them look for family controlled businesses or great capital allocators
16:10: Russo talks about John Malone, activist investor, the ability to suffer
20:54: Russo’s one investment: Heineken Holding NV HEIO
22:40: Weitz’s one investment: Liberty Media Corp LMCA

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Kyith is the Owner and Sole Writer behind Investment Moats. Readers tune in to Investment Moats to learn and build stronger, firmer wealth foundations, how to have a Passive investment strategy, know more about investing in REITs and the nuts and bolts of Active Investing.

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Kyith worked as an IT operations engineer from 2004 to 2019. Currently, he works as a Senior Solutions Specialist in Fee-only Wealth Advisory firm Providend.

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His investment broker of choice is Interactive Brokers, which allows him to invest in securities from different exchanges all over the world, at very low commission rates, without custodian fees, near spot currency rates.

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