In his recent interview with Yahoo Finance, Tom Russo discussed Warren Buffett’s number one strength. Here’s an excerpt from the interview:
Q1 2022 hedge fund letters, conferences and more
Russo: It’s been amazing. Ever since I started to come, Warren, early days decried the inability for his investment style to embrace technology because of its inherent short shelf life and the need to reinvest. And so that was the message.
But somehow, as that message was articulated, quietly, they built a $31 billion stake in Apple which is today worth over $150 billion. It’s unbelievable. For somebody who will say that they were slow off the start for technology, that’s a pretty good outcome to buy the leading company at such scale and to hold it as well as they have done at Berkshire.
So I think there are a host of other businesses. There’s some geographic reach that’s underway at the moment. Berkshire’s been making investments internationally with more frequency.
The number one strength of Berkshire is that Warren Buffett, as he sets about his own work, believes that he has the ability to do anything in the investment business. And he showed us that by all the steps that he’s taken over the decades.
But he’s able to do nothing. He’s able to do nothing for extremely long periods of time. And that gives him extraordinary power. And he’s not forced to swing at any pitch. He waits for the perfect pitch. And that’s what we come to hear.
We’d much rather hear him say I’m waiting for the perfect pitch than I think I’m going to go off into direct investments in cryptocurrency.
You can watch the entire discussion here:
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Article by The Acquirer’s Multiple.
