2015.21 – Warren buffett partnership letters

Building blocks

1. What should be focus of long term investor
2. Surest means of profit is value investing
3. Think long term to evaluate performance
4. Beating index is very tough
5. True conservatism
6. Magic of Compounding
7. Price is everything aka Margin of Safety
8. Cigar butt as a group works out to be a good investment
9. Evaluate money manager even if it’s you
10. Public opinion is not a substitute for though
11. Investing edge
12. Role of luck in Investing

Types of Investment

1. What is a work-out Investment ?
2. What are Generals ?

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