2025-02-07
1 小时 7 分钟You're listening to tip.
On today's episode, I'm joined by Lawrence Cunningham to discuss the value of trust based cultures and organizations and the value Warren Buffett has created by implementing such a culture at Berkshire Hathaway.
Cunningham is the Director of the University of Delaware's John Weinberg center for Corporate Governance.
He's also the sitting director on three public company boards, Constellation Software, Markel Group and Kelly Partners Group and a best selling author of a number of books including the Essays of Warren Buffett, Quality Investing and Quality Shareholders.
During this episode we discussed the primary role of the Board of Directors for a public company, the key attributes and the value of trust based cultures and organizations, How Warren Buffett identifies trustworthy people, the story of David Sokol breaking Warren Buffett's trust, Lawrence's thoughts on Berkshire's $300 billion cash position, how Lawrence navigates investing in a world where a premium is placed on high quality businesses and so much more.
With that, I really hope you enjoyed today's discussion with Lawrence Cunningham.
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Now for your host Play Fink.
Welcome to the Investors Podcast.
I'm your host Clay Fink and today I'm happy to welcome back Lawrence Cunningham.
Lawrence, it's so great to have you back on the show.
Great to be here.
In 2017 you joined the board of Constellation Software and just to provide full disclosure at the top, I do own shares of this company and since you joined the board of Constellation you've also joined the board of Markel Group and Kelly Partners Group and upon adjoining Constellations board.
You reached out to Warren Buffett for advice on how to best serve a company on their board and add value.
What did Buffett advise you on this manner?
He said you have two jobs.
One is to hire an outstanding CEO and two to stay out of the CEOs way.
And so we could have left it at that.
But he emphasized that if you do get number one right, you don't really have any any problems.