Friday 5: Five Lessons on Investing from Warren Buffett and Charlie Munger

My favorite lessons on investing from Berkshire Hathaway's shareholder letters. All taken from "The Essays of Warren Buffett" by Lawrence Cunninghuman.
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Chapters
(00:00) Introduction
(03:01) Lesson 1: Seek to invest in businesses with excellent economics, able and honest management, at sensible prices. That’s the magic formula.
(07:29) Lesson 2: Don’t be afraid to let a few investments grow to represent a large portion of your portfolio. That’s inevitable if you do well.
(10:44) Lesson 3: Invest in companies you expect to be as competitive 20 years from now. The best investments compound over decades.
(13:52) Lesson 4: Forgot the growth versus value debate—they’re two sides of one coin. Look for durable value and profitable growth in companies.
(18:44) Lesson 5: Make Mr. Market your ally. Take advantage of his perpetual swings from euphoria to panic.
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The Essays of Warren Buffett: Warren's Ideas from 50+ Years Grouped by Topic
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