We consider Warren Buffett and Charlie Munger to be the masterminds of investing. We tell the backstory of how Buffett and Munger became legendary investors at Berkshire Hathaway.
While Buffett's investing style was heavily influenced by his mentor, Benjamin Graham, his style evolved after he became best friends and partners with Charlie Munger. Many people associate Buffett with this notion of "value investing," but it might be best to think of this style in the way Munger put it: "all good investing is value investing."
Buffett's investing genius lies in his ability to adapt to changing business environments and re-allocate capital into better investments. Much of Berkshire's success stems from their ability to recognize undervalued, quality businesses and buy them at a discount to their intrinsic value.
When there is an economic downturn that causes the stock market to decline, then wonderful companies may be available for us to buy at fair prices. We explain how Buffett saw volatility not as a risk, but as an opportunity to buy wonderful businesses.
