Key insights

• 📈 When investing in companies, it's important to view stocks as businesses.
• 💼 Using market as a tool to serve you rather than instruct you, following principles from B. Graham's book.
• 💭 Warren Buffet discusses the companies Berkshire Hathaway owns and the importance of mindset in investments.
• 💰 Berkshire Hathaway is currently paying 21% federal tax rate on gains, which was previously 35% and 52%.
• 💸 Berkshire sends over $5 billion to US federal government, the contribution could cover taxes for 800 other companies.
• 🔍 View stocks as businesses when investing, Focus on understanding the company's operations and value.
• 📊 Market is a tool to be used rather than followed, Principles from B. Graham's book, Evolving investment strategies with Charlie.
• 💵 Building cash position is a current strategy due to market conditions, Emphasis on tax management as a significant factor.

Q&A

• How does Berkshire Hathaway's contributions relate to its taxes and Warren Buffett's views on contributing?

  Berkshire Hathaway sends over $5 billion to the US federal government, which could cover taxes for 800 other companies. Warren Buffett believes in contributing his fair share and hopes to be in the '800 club' of contributors. Additionally, Berkshire Hathaway sold some Apple stock this year.

• What is the current federal tax rate paid by Berkshire Hathaway, and what does Warren Buffett anticipate regarding taxes?

  Berkshire Hathaway currently pays a 21% federal tax rate on gains. The tax rates were previously 35% and 52%. Warren Buffett anticipates the possibility of higher taxes due to current fiscal policies.

• What are the key points discussed about investments by Warren Buffett?

  Warren Buffett discusses the companies Berkshire Hathaway owns, the importance of mindset in investments, the strategy of building a cash position due to market conditions, and the significance of tax management in investments.

• What approach does Warren Buffett emphasize in using the market?

  Warren Buffett emphasizes using the market as a tool rather than as an instruction. He follows principles from Benjamin Graham's book, evolves strategies with Charlie, and invests in strong businesses like American Express and Coca-Cola.

• How should stocks be viewed when investing?

  When investing, it's important to view stocks as businesses. Focus on understanding the company's operations and value, rather than trying to predict markets or pick stocks. This perspective is influenced by 'The Intelligent Investor' by Benjamin Graham.

• What did Berkshire Hathaway do regarding its Apple shares?

  Berkshire Hathaway sold 115 million shares of Apple, its largest holding.

• 00:00 Berkshire Hathaway sold 115 million shares of Apple; discussion on Apple's position as Berkshire's largest stock holding and its attractiveness as an investment. No change in the investment manager's view of Apple's business.
• 01:30 When investing in companies, it's important to view stocks as businesses. Focus on understanding the company's operations and value as a business, rather than trying to predict markets or pick stocks.
• 03:04 Using market as a tool to serve you rather than instruct you, following principles from B. Graham's book, evolving strategies with Charlie, and investing in strong businesses like American Express and Coca-Cola.
• 04:22 Warren Buffet discusses the companies Berkshire Hathaway owns and the importance of mindset in investments. He also mentions the strategy of building cash position and the significance of tax management.
• 06:15 Berkshire Hathaway is currently paying 21% federal tax rate on gains, which was previously 35% and 52%. Warren Buffett anticipates the possibility of higher taxes due to current fiscal policies.
• 08:06 Berkshire Hathaway sends over $5 billion to the US federal government, which could cover taxes for 800 other companies. Warren Buffett believes in contributing his fair share and hopes to be in the '800 club' of contributors. He sold some Apple stock this year.