The Berkshire Hathaway weekend was truly fantastic. It was great to see Warren and Charlie in person. We’ve mapped everything we’ve learned in a free course for you.
Beginners' question here: what does "integer people" mean in the statement "Skin in the game matters. Invest in stocks which are managed by highly capable and integer people"?
People who run the company not for their own gain / because they want to earn as much money for themselves as they possible can, but who put the creation of shareholder value creation first.
When management has a lot of stocks in the company, it is already a great indication that the incentives of you as a shareholder and the ones of management are aligned.
Thanks for the explanation, Compounding Quality. I became confused when I looked up the dictionary definition of "integer" and it said "a whole number and not a fraction".
Next week I'll publish an article about the investment philosophy of Mark Leonard (Constellation Software). After that, I'll explain how to do a reverse DCF!
Beginners' question here: what does "integer people" mean in the statement "Skin in the game matters. Invest in stocks which are managed by highly capable and integer people"?
People who run the company not for their own gain / because they want to earn as much money for themselves as they possible can, but who put the creation of shareholder value creation first.
When management has a lot of stocks in the company, it is already a great indication that the incentives of you as a shareholder and the ones of management are aligned.
Thanks for the explanation, Compounding Quality. I became confused when I looked up the dictionary definition of "integer" and it said "a whole number and not a fraction".
Glad I could help! Never hesitate to contact me if you have any questions.
Thank you for a great summary. I would be happy if you at some point would expand on the concepts of reversed DCF and reverse engineering problems.
Hi Chris,
Next week I'll publish an article about the investment philosophy of Mark Leonard (Constellation Software). After that, I'll explain how to do a reverse DCF!
CQ, this is another superb article, and the course is an excellent resource of timeless wisdom and investment guidelines.
Thank you for giving so much to all of us!
It's an honor, Pavel! Got a lot of inspiration from the Omaha Weekend. Great things are coming your way!
love your posts ! you are doing an amazing job sharing and caring
It's an honor, Suveer!
"The best thing a human being can do is to help another human being know more." - Charlie Munger
The e-pub link is not working. Would you mind uploading the course again?
Hi Sushant,
Apologies for that. I am having a lot of troubles with the link.
You can get the course here: https://drive.google.com/file/d/1lMLg9VAckctx4J75oZYI-j8QH75yM7AM/view
Thank you, appreciate it!