Warren Buffett on how to value a business .

True legend. Many investors make valuation too much number-focused imo. That might sound strange, but it is all about the story, which is based on your conviction about the competitive advantage. That is where the focus should be.

Can you please share the name of tue lecture, i am unable to find this on youtube

Warren Buffett Teaches You How To Value Businesses

Wow he looks old even back then

2003 or so. Don’t know why it’s in Black and White

Good explanation

The smartest thing Buffet does is explain how he invests without giving away zero secrets. After 70 years in the business no one has matched his success. No one. Even though, supposedly, he gives many clues in his lectures and letters. The sign of a true genius is to keep beating them while also explaining to them how you do it!

Great lecture.