Thomas Russo – All About Berkshire Hathaway (Capital Allocators, EP.89)

<p>Tom Russo is the Managing Member of Gardner Russo & Gardner.  Tom and I sat down in Episode 16 to discuss his background and investment strategy in what was one of the most popular episodes on the show.  He oversees $13B in a global value strategy focused on family-operated public companies.</p> <p>Our second conversation is a two-part episode for this week and next.  First, we talk solely about his holding in Berkshire Hathaway, a stock he first bought 38 years ago.</p> <p>The conversation covers Tom’s initial purchase of Berkshire, company meetings, reaffirming his thesis and search for disconfirming information, the genius of Warren Buffett, research on Mitek, cross-fertilization of Berkshire’s CEOs, the subdivisions of insurance, public market investments and regulated businesses, valuation, compensation, Berkshire after Warren, and Tom’s sell discipline.</p> <p>We close with a teaser for next week’s episode, as Tom reveals the name of the first significant stock he’s bought for his clients in eight years.</p> <p style= "margin: 0.0px 0.0px 0.0px 0.0px; line-height: 19.0px; font: 16.0px Georgia; color: #262626; -webkit-text-stroke: #262626;"> <span style="font-kerning: none;"><u><strong>Learn More</strong></u></span></p> <p style= "margin: 0.0px 0.0px 0.0px 0.0px; line-height: 14.0px; font: 12.0px Times; color: #000000; -webkit-text-stroke: #000000; min-height: 12.0px;">  </p> <p style= "margin: 0.0px 0.0px 0.0px 0.0px; line-height: 19.0px; font: 16.0px Georgia; color: #6b006d; -webkit-text-stroke: #6b006d;"> <span style="font-kerning: none;"><a href= "http://capitalallocatorspodcast.com/transcripts"><u>Discuss show and Read the Transcript</u></a></span></p> <p style= "margin: 0.0px 0.0px 0.0px 0.0px; line-height: 14.0px; font: 12.0px Times; color: #000000; -webkit-text-stroke: #000000; min-height: 12.0px;">  </p> <p style= "margin: 0.0px 0.0px 0.0px 0.0px; line-height: 19.0px; font: 16.0px Georgia; color: #6b006d; -webkit-text-stroke: #6b006d;"> <span style= "font-kerning: none; color: #262626; -webkit-te