TIP548: Berkshire Hathaway Masterclass 2023 w/ Chris Bloomstran

<p>Stig has invited legend investor Chris Bloomstran from Semper Augustus to teach us how to value Berkshire Hathaway on today's show. Semper Augustus has an outstanding track record with a CAGR of 11.5% since his fund's inception on 2/28/1999, compared to 6.9% for the S&amp;P500.&nbsp;</p><p>There is no one in the space we respect as much as Chris Bloomstran when valuing the intrinsic value of Berkshire Hathaway.&nbsp;</p><p><br></p><p><strong>IN THIS EPISODE YOU’LL LEARN:</strong></p><p>00:00 - Intro</p><p>10:21 - The intrinsic value of Berkshire Hathaway and what the P/B of Berkshire Hathaway tells us &amp; what it doesn’t tell us.&nbsp;</p><p>16:34 - How to think about depreciation and maintenance CAPEX</p><p>19:02 - Why the insurance business is worth approximately as much as the energy and railroad businesses combined</p><p>35:17 - How to think about Berkshire Hathaway’s bigger equity positions</p><p>1:13:49 - Where you can use Berkshire Hathaway to park cash?&nbsp;</p><p><br></p><p><em>Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.</em></p><p><br></p><p><strong>BOOKS AND RESOURCES</strong></p><ul><li>Listen to Stig’s masterclass with Chris Bloomstran on <a href="https://link.chtbl.com/WSB438" rel="noopener noreferrer" target="_blank"><strong>valuing Berkshire Hathaway</strong></a> or watch the <a href="https://www.theinvestorspodcast.com/episodes/berkshire-hathaway-masterclass-w-chris-bloomstran/" rel="noopener noreferrer" target="_blank"><strong>video</strong></a>.&nbsp;</li><li>Tune in to Stig’s masterclass with Chris Bloomstran on <a href="https://link.chtbl.com/WSB346" rel="noopener noreferrer" target="_blank"><strong>equity valuations</strong></a> or watch the <a href="https://www.theinvestorspodcast.com/episodes/masterclass-in-valuations-w-chris-bloomstran/" rel="noopener noreferrer" target="_blank"><strong>video</strong></a>.</li><li>Chris Bloomstran’s <a href="https://www.semperaugustus.com" rel="noopener noreferrer" target="_blank"><stron