WWWD | Wisdom, Wealth, and Wellness
Good morning, good afternoon, good evening. Depending on the part of the world you’re in. This is Jonathan Satovsky of Satovsky Asset Management. And on today’s episode of “Seeking Wisdom, Wealth, and Wellness,” I want to talk about a different WWW.
Today was the annual report from Berkshire Hathaway, and we generally own shares for most investors as a reminder of a mindset: What would Warren do? All right, there’s a “D” in there. WWWD – What would Warren do?
As he described it, he’s made maybe 12 great decisions in 58 years that have contributed to the vast majority of his success—which would be one great decision every five years. He doesn’t have to make a decision every day.
He also points out the great difference between gap accounting and operating earnings, showing operating earnings that have been tremendous quarter after quarter. Between $6 and $9 billion. Yet, gap reporting, which reports the fluctuation in marketable securities, people’s emotional perception of the value of securities, has been massively positive and massively negative. And of course, most investors react to that emotional perception of other investors, rather than focusing on the core operating business and seeing operating earnings grow quarter after quarter for decades upon decades. So, when you get jarred by the volatility of financial markets, get back to your mindset of WWWD. What would Warren do? On your path to Wisdom, Wealth, and Wellness.
Have a great day.
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Disclosures
This blog post is not intended to be, nor should it be construed or used as, an offer to sell, or a solicitation or offer to buy any securities or interests in any strategy offered by Satovsky Asset Management, LLC (“SAM”). SAM is a registered investment advisor with the Securities and Exchange Commission – for more information see www.adviserinfo.sec.gov. Please remember that different types of investments involve varying degrees of risk, and that past performance is not indicative of future results. Therefore, it should not be assumed that future performance of any specific investment or investment strategy (including the strategies recommended or undertaken by SAM) will be profitable. Market index information shown herein is included to show relative market performance for the periods indicated and not as standards of comparison. The market volatility, liquidity and other characteristics of SAM’s portfolio composition are materially different from the securities listed on public market indices. Market index information was compiled from sources that SAM believes to be reliable. No representation of guarantee is made hereby with respect of the accuracy or completeness or such data. Opinions are as of date of video and are subject to change. A copy of SAM’s current written disclosure statement discussing our advisory services and fees continues to remain available for your review upon request. SAM undertakes no duty to update information presented herein.
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