Charlie Munger, Vice Chairman of Berkshire Hathaway, speaks on behalf the companies stock investing formula. Munger mentions that Buffett follows a 4 step formula which has been the way he has managed through business in the past.
Those four steps include:
1. Understand the business
2. Sustainable competitive advantages
3. Able and trustworthy managers
4. Bargain Price (Margin of safety)
Watch the video below to listen to Charlie Munger explain these key points:
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