Uploaded September 2021 | Updated September 2026, 5 hours ago
Alibaba, Lyft, Uber and other IPOs discussed by perhaps the most successful investors in history, who prefer to zoom out and use behavioural psychology and incentive bias to explain why Berkshire Hathaway has never bought an initial public offering. Until Snowflake in 2021. Interestingly, Warren admits he accepted “a free ride on 100 shares” of Ford in 1955 received “as a favor.”
Charlie points out that a lot of problems are caused by envy.
12:40 “The average person buying IPOs is going to get creamed.” Charlie Munger.
12:10 Buffett teaches a lesson on valuation based on future earnings, what a company selling for $50bn should be earning in revenue. “You should certainly expect it to be earning $5bn pre tax…”
Alibaba, Lyft, Uber and other IPOs discussed by perhaps the most successful investors in history, who prefer to zoom out and use behavioural psychology and incentive bias to explain why Berkshire Hathaway has never bought an initial public offering. Until Snowflake in 2021. Interestingly, Warren admits he accepted “a free ride on 100 shares” of Ford in 1955 received “as a favor.”
Charlie points out that a lot of problems are caused by envy.
12:40 “The average person buying IPOs is going to get creamed.” Charlie Munger.
12:10 Buffett teaches a lesson on valuation based on future earnings, what a company selling for $50bn should be earning in revenue. “You should certainly expect it to be earning $5bn pre tax…”
