The Next Warren Buffett


This post is by Howard Lindzon from Howard Lindzon


Good morning…

“We get this question a lot from the enterprising young. It’s a very intelligent question: you look at some old guy who is rich and you ask, ‘How can I become like you, except faster?’” Charlie Munger

I really enjoyed this post by Frederik Grieschen titled ‘Thinking About The Next Warren Buffett

The media and a new generation of investors are fascinated with how to spot or become the next Buffett.

I liked this riff at the end of the post:

Asking a better question

In The Big Short, Michael Lewis described how Michael Burry studied Buffett and found that the more he learned, “the less he thought Buffett could be copied.” Rather, the lesson from Buffett’s life was that “to succeed in a spectacular fashion you had to be spectacularly unusual.”

“If you are going to be a great investor, you have to fit the style to who you are. At one point I recognized that Warren Buffett, though he had every advantage in learning from Ben Graham, did not copy Ben Graham, but rather set out on his own path, and ran money his way, by his own rules.” Michael Burry

Munger has said as much, explaining that Buffett, “the former protégé,” surpassing Ben Graham was “a natural outcome.”

“It’s what Newton said. He said, ‘If I’ve seen a little farther than other men, it’s by standing on the shoulder of giants.’”

Speaking of giants, during the 2019 annual meeting Munger was in a (Read more...)