Episode 2: On driverless cars, spotting good investments, challenges faced by Berkshire core stock holdings, AIG, Munger’s most memorable deal, and investing on big tech companies.
Buffett discusses driverless cars and trucks and how they would negatively affect Berkshire’s auto insurance and railroad businesses. He describes how Berkshire identifies businesses to invest in. He also discusses challenges faced by American Express, Wells Fargo, and United Airlines. Munger describes lessons learned from investing in See’s Candies. The duo discuss investing in IBM and Apple, and how they “blew it” by not investing in Google and Walmart.