I regularly get asked where my investing philosophy comes from. There isn’t an easy answer, as it comes from a lot of places, numerous people who influence my thinking (publicly and privately), my partners, and lots of reflection and critical thinking around things that have worked and haven’t worked for me over the past 25 years.
However, one public person who has influenced my thinking for a long time is Warren Buffett. I don’t know Buffett, but I’ve been a fan and follower since college. I read his annual report every year. I’ve also read several biographies on him as well as a bunch of stuff on his long-time partner Charlie Munger (who I’ve learned even more from.)
Last weekend, Amy and I watched the documentary Becoming Warren Buffett. I thought it would be a harder sell to her, but I think we needed a break from binge-watching The Expanse, so she was game to go in an entirely different direction for a few hours. She loved it, which was fun. I liked it a lot also, and, while there wasn’t much new information for me, seeing and hearing Buffett reflect on some things was fascinating.
My behavior is not to emulate Buffett. Nor is it to emulate any of the other inputs I have. All of the inputs influence how I think about things, but I view them as inputs rather than fundamental principles to follow. But Buffett has been – over an extended period – a particularly interesting and stimulating input for me.
As a bonus, his view on philanthropy and generational wealth is very consistent with mine and Amy’s.
If you are a Buffett fan, or just interested, Becoming Warren Buffett is definitely worth watching.