Warren Buffett: The Power of Corporate Governance w/ Lawrence Cunningham (TIP621)

Kyle Grieve chats with Lawrence Cunningham about corporate governance, ethical decision-making, and Warren Buffet's shareholder letters. Lawrence provided a list of businesses for investors to research and discussed the makeup of a successful incentive program.
Lawrence Cunningham is an author, professor, and board member of public companies, including Constellation Software, Kelly+Partners Group, and Markel Group. He wrote "The Essays of Warren Buffett" and has published other books on quality. As a board member, he engages with shareholders and serves on various committees.
IN THIS EPISODE YOU’LL LEARN:
00:00:00 - Intro
00:04:05 - How corporate governance protects shareholders
00:05:52 - Why Warren Buffett has created a competitive advantage by writing his shareholder letters the way he does
00:09:33 - A few businesses that have excellent corporate governance that investors should research
00:15:32 - Lessons from Charlie Munger and Philip Fisher that helped Warren better understand quality
00:18:19 - How Warren's alignment with shareholders is such a competitive advantage
00:32:02 - Why Berkshire is such an attractive buyer compared to alternatives
00:35:25 - A breakdown of some simple and complicated investments Warren has made using the 1-foot and 7-foot hurdle analogy
00:46:37 - The ABCs of capital allocation and why all board members should understand them deeply
00:52:08 - How Warren tracks intrinsic value for different business models and why you should utilize multiple tools
01:03:15 - Why it's so hard for most companies to have shareholder-friendly incentive programs
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▶️ RELATED EPISODES:
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📖 BOOKS MENTIONED:
- The Essays of Warren Buffett: Lessons for Corporate America by Lawrence Cunningham: amzn.to/43LfhKL
- Dear Shareholder by Lawrence Cunningham: amzn.to/4cEDeY1
- Common Stocks and Uncommon Profits by Philip A. Fisher: amzn.to/3TLl4Lu
- Where Are the Customers' Yachts? by Fred Schwed: amzn.to/49guqEQ
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On We Study Billionaires, we interview and study famous financial billionaires including Warren Buffett, Bill Gates, and Ray Dalio. We teach you what we learn and how you can apply their investment strategies in the stock market.
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[@pjdava]

We Study Billionaires, You're amazing! I hit the like button as soon as I saw it!

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[@brettkellypartners]

So good!

[@WeStudyBillionaires]

Much appreciated! 🙌

[@cryptogoth]

Great questions and answers by two men adding to our collective encyclopedia of Berkshire and investing.

[@WeStudyBillionaires]

Much appreciated! 🙏

[@mmm-cake]

✨✨

[@Miguel13189]

I'm favoured $130k every 4 weeks! I now have a good house and can afford anything and also support my family

[@KamilMauel]

Coca Cola could be a decent company yet its 26 years performance hasn’t. 50% higher now. In terms of Coke after the first purchase in 1988 Berkshire bottomed 22 years ago and has gone >600% since. There must be something in corporate governance for sure.