Recent updates:

1) As of April 2020 we have pivoted toward Graham and away from Munger 2) The challenge in the marketplace is to find meritorious businesses that are Graham oriented 3) It's important to remember Munger's concept that you need ignorance avoidance

1) Welcome participants from 6 continents and 33 countries to the 20th Annual Value Investor Conference 2)Thanks to our guest speakers and to our global audience for attending the Berkshire System Summit and Value Investor Conference. 3) Hope to see you next year for the Genius of Warren Buffett Course on April 29 - May 1; the Berkshire System Summit, May 2; and the 21st Annual Value Investor Conference and Dinners, May 2 & 3, 2024

1) Importance of predictable businesses and management incentives as a part of building a compounding machine

Chuck and Chris will focus on some of the hardest aspects of the investing journey, including 1) the difficulty of correctly evaluating people, 2) recognizing the good ones early enough, and 3) getting distracted from what really matters by all the noise.

Takeaways:

1) The need for discipline in an investment operation 2) Developing a system to buttress one’s discipline 3) Lessons from the Stonehouse system

1) The importance of not trying to predict the stock market 2) Aim for the "middle of the road" in investing 3) Develop the right behaviours: Rationality, Humility and Patience

1) Omaha connection: Is there something in the water? 2) Surprises from writing the book 3) Entrepreneurship and Buffett: Lessons learned

Takeaways:  1) Comparing Berkshire's culture to other conglomerates. 2) Developing an insurance subsidiary from scratch. 3) What is insurtech? 4) One of the most innovative products in Small Commercial Insurance in many years.

1) Investors need to radically reallocate capital based on a different economic environment. 2) Globalization 2.0 - not JUST China 3) Creating a decade plus of economic capital investment activity with new, continuing, and persistent inflationary pressures. 4) Old economy business have become better business, with barriers to entry, trading at cigar butt prices 5) VALUATION matters 6) Reinforcing the need to reallocate capital for this new environment

1) Research Analysis - will it survive in a world of quants, algos, moms, and AI 2) What is private market value - does it work?

1) How do you define the Berkshire System? 2) Why is insurance the most important subsidiary of Berkshire? 3) What are the unique opportunities and challenges of workers compensation insurance?

Chuck will focus on some of the hardest aspects of the investing journey, including 1) the difficulty of correctly evaluating people, 2) recognizing the good ones early enough, and 3) getting distracted from what really matters by all the noise.

1) Acquire a clear understanding of the seven universal Principles of Persuasion that, when employed ethically, will result in more agreement with requests, recommendations, and proposals. 2) Learn which three Principles lead to stronger and deeper relationships that, in turn, lead to favorable and efficient long-term partnerships. 3) Know the smallest changes to their persuasive approaches that produce the largest increases in their persuasive success.

1) What is your understanding of the Berkshire System? 2) What are the key components of Berkshire's model that others must get right to develop a similar system? 3) What are the major advantages and disadvantages of the Berkshire System?

1) Identifying where to find value in today's market 2) Where the crossroads meet: economic moats & Morningstar's deepest value stock plays 3) Value meets Growth: undervalued stocks leveraged to long term secular growth

1) Comparing Berkshire's culture to other conglomerates. 2) Developing an insurance subsidiary from scratch. 3) What is insurtech? 4) One of the most innovative products in Small Commercial Insurance in many years.

1) What is the Berkshire System? 2) How does Berkshire's Culture compare to previous employers? 3) How does Borsheims benefit by being part of the Berkshire Family of Businesses?

1) What is the Berkshire System? 2) Berkshire's latest acquisitions and updates. 3) Berkshire's latest board appointments. 4) Succession

1) Focus investing as a Competitive Advantage and Repeatable Edge. 2) Can institutional Imperatives be avoided? 3) Trials and Tribulations of Institutional Clients

1) An inside look into RCG investment process. 2) Necessary ingredients to being a long term investor. 3) Our investment in Berkshire Hathaway.

1) How Stonehouse Corp is similar to Berkshire 2) How Stonehouse Corp is different from Berkshire 3) Australia's cultural and economic characteristics that affect Stonehouse's investment environment and approach