MI305: Exploring the DNA of Quality Businesses w/ Lawrence Cunningham

<p>Kyle Grieve chats with Lawrence Cunningham about Warren Buffett’s focus on value, Warren’s unique long-term perspective, how the most successful managers utilize self-reflection to help reduce further mistakes, why capital efficiency metrics are so important to the success of a business and its incentive program, a great biological mental model called “security from obscurity” to help identify under the radar businesses, why quality shareholders are so important for public corporations, and a whole lot more!</p><p>Lawrence Cunningham’s seminal work was the book The Essays Of Warren Buffett: Lessons for Corporate America. He was a Professor of Corporate Governance for 15 years at George Washington University. He serves on the board of directors for several public businesses such as: Constellation Software, Kelly+Partners Group, and Markel Group. He’s published several other books on quality such as Quality Shareholders, Margin Of Trust, and Quality Investing.</p><p><br></p><p><strong>IN THIS EPISODE, YOU’LL LEARN:</strong></p><p>00:00 - Intro.</p><p>11:29 - Overcoming the challenge of assessing management decision-making.</p><p>19:12 - Why personal connections are so underrated in investing.</p><p>22:25 - The benefits of incremental innovation and who is doing it well.</p><p>33:36 - The role of trust in Berkshire Hathaway.</p><p>50:31 - The three different shareholder types and why you should be a quality shareholder.</p><p><br></p><p><em>*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.</em></p><p><br></p><p><strong>BOOKS AND RESOURCES</strong></p><ul><li>Check out Quality Investing&nbsp;<a href="https://amzn.to/3QEg0IC" rel="noopener noreferrer" target="_blank"><strong>here.</strong></a></li><li>Margin Of Trust&nbsp;<a href="https://amzn.to/47bwayz" rel="noopener noreferrer" target="_blank"><strong>here</strong></a>.</li><li>Quality Shareholders&nbsp;<a href="https://amzn.to/3MpuJon" rel="noopener noreferrer" target="_blank"><strong>here</strong></a>.</li><li>