Investment Philosophy

Why Does Berkshire Hathaway Insist on Not Paying Dividends? Berkshire Hathaway has maintained a no-dividend policy since Warren Buffett took control, rooted in core principles of value investing.

Warren Buffett as Activist Shareholder vs. Hands-off Manager: Is There a Contradiction? Introduction Warren Buffett is renowned for his unique investment philosophy, often characterized as a "hands-of...

Warren Buffett's Emphasis on Management Candor In his investment philosophy, Warren Buffett regards management candor as one of the most critical qualities when evaluating a company.

Warren Buffett's Opposition to Stock Options and Alternative Approaches Buffett's Reasons for Opposing Stock Options as Executive Compensation Warren Buffett has repeatedly expressed opposition to usi...

If Warren Buffett Started with $1 Million Today, How Would His Investment Strategy Differ from Managing Berkshire Hathaway? As a leading figure in value investing, Warren Buffett's core strategy has a...

Does Warren Buffett Prioritize Historical Performance or Future Potential When Evaluating a Company? As a leading figure in value investing, Warren Buffett places greater emphasis on a company's futur...

Warren Buffett's Perspective on Estimating a Company's Intrinsic Value When estimating a company's intrinsic value, Warren Buffett prioritizes being "approximately right" over precision.

Does Buffett's Investment in Utilities and Railroads Indicate Reduced Expectations for "High Growth"? Background Analysis Warren Buffett, through Berkshire Hathaway, has made significant investments i...

Why Does Warren Buffett Almost Never Invest in IPOs (Initial Public Offerings)? As a leading figure in value investing, Warren Buffett rarely participates in IPO investments due to his investment phil...

Core Premise of Buffett's "Bad News is an Investor's Best Friend" Strategy When investing in Coca-Cola (during the New Coke failure) and American Express (during the salad oil scandal), Buffett capita...

Warren Buffett's View on the Distinction Between "Value" and "Growth" Warren Buffett believes that categorizing stock investments into "value investing" and "growth investing" is an artificial and mis...

Warren Buffett's Views on Companies Growing Through Continuous Acquisitions Warren Buffett has repeatedly expressed caution and even criticism in his shareholder letters regarding companies that rely ...

"Our Favorite Holding Period Is Forever": Literal Meaning or Mindset Emphasis? This statement originates from Warren Buffett's investment philosophy, specifically appearing in his letters to Berkshire...

Warren Buffett's Three-Word Definition of a "Wonderful Business" Economic Moat: A sustainable competitive advantage that protects the business from rivals.

Is "Institutional Imperative," the Tendency to Imitate Others, Wall Street's Greatest Enemy? Concept Explanation The "Institutional Imperative," a term coined by Warren Buffett in his shareholder lett...

How Does Buffett Distinguish Between a "Temporary Difficulty" and "Permanent Decline" in a Company? As a leading figure in value investing, Warren Buffett emphasizes analyzing a company's Economic Moa...

The Core of Buffett's Investment Philosophy: Adhering to "Simple and Understandable" Warren Buffett has repeatedly emphasized in his shareholder letters that investing should focus on businesses one c...

Analysis of the Most Important Sources of Economic Moats An economic moat refers to a company's competitive advantage that allows it to fend off competition and sustain high returns over the long term...

Why Did Warren Buffett Ultimately Almost Completely Abandon Benjamin Graham's "Cigar Butt" Investment Strategy? The "cigar butt" strategy, a core investment philosophy of Benjamin Graham, refers to se...

Evolution of Warren Buffett's Circle of Competence The concept of Warren Buffett’s "Circle of Competence" stems from the core of his investment philosophy: investing only in areas he thoroughly unders...