Warren Buffett’s Uncanny Ability To Predict The Future
During their latest episode of the VALUE: After Hours Podcast, Brewster, Taylor, and Carlisle discuss Warren Buffett’s Uncanny Ability To Predict The Future.
I think it’s been much more understanding unit economics and microeconomics of businesses and looking at this point, probably tens of thousands of businesses over this entire thing and identifying a handful of them that have something about this business that allows them to earn more than they should, theoretically, in a hypercompetitive world for a long period of time and recognizing this tiny, tiny vanishingly small sliver of them have these advantages, and then just being willing to hold those for a really long time, and earning what the business earns, which Buffett would call investing, and then the other side he would call speculation, which would be hoping to get a higher price for it later from someone else.